Starting Business with Home Equity Loan

[mgators]

What is the name of your state? FL

If you get a home equity loan and use 60% of that loan value to start a business can you use 60% of the loan payment as a business deduction (expense)?

 

[seniorjudge]

Starting a business with a home equity loan is a very bad idea and extremely risky behavior.

 

[divgradcurl]

What is the name of your state? FL

If you get a home equity loan and use 60% of that loan value to start a business can you use 60% of the loan payment as a business deduction (expense)?

Contact a CPA or other tax pro in your area.