Results 1 to 6 of 6
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09-28-2021, 04:12 PM #1
- Join Date
- Jan 2014
- Posts
- 1,378
Can the cost of MCA be written off ?
since mca is fixed costs not compounding like a loan. Do any vets know the answer? I have spoken to several accountants some tell me yes some say its a grey area
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09-28-2021, 05:58 PM #2
- Join Date
- Jul 2015
- Location
- Tampa Florida
- Posts
- 502
Jason H l Sales & Business Development
Quikstone Capital Solutions l Tampa FL
Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
Jason.Hausle@quikstonecapital.com
www.quikstonecapital.com
Direct Lender Since 2005
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09-28-2021, 06:59 PM #3
- Join Date
- Jan 2014
- Posts
- 1,378
Thank you Jason.
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10-12-2021, 09:33 AM #4
- Join Date
- Oct 2020
- Location
- Ontario,Canada
- Posts
- 141
Any INTEREST you pay whether variable or fixed interest on borrowed capital is still a cost/expense and is all Tax Deductable.
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10-12-2021, 09:37 AM #5
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,501
Here is the challenge...... Most of the time when I review a company that has taken an advance they are not reporting it correctly on their balance sheet or income statement. 99% of the time they report the cash, but do not report the liability of cost. Inevitably this throws off the financials......
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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10-12-2021, 09:39 AM #6
- Join Date
- Oct 2020
- Location
- Ontario,Canada
- Posts
- 141
That is a selling point --- I tell clients that as long as the return on their use of the capital is greater than the cost of the money they paid it is favorable money. The cost of the money they pay and balk about becomes irrelevant on top of which the money is a tax-deductible expense- that is why we are called Growth Capital.
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