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24 Jul

Write off repayment of a business loan

Are business loan payments tax deductible? In short, business loan payments aren’t tax deductible. When a business loan is received by a company, it’s not included as taxable income. In turn, when that loan is repaid, you are not able to deduct loan principal payments. You are simply paying back money you borrowed, not income […]

24 Jul

Wells Fargo tells customers it’s shuttering all personal lines of credit

Wells Fargo is ending a popular consumer lending product, angering some of its customers, CNBC has learned. The bank is shutting down all existing personal lines of credit in coming weeks and has stopped offering the product, according to customer letters reviewed by CNBC. The revolving credit lines, which typically let users borrow $3,000 to […]