The American Institute of Professional Bookkeepers VOLUME 2: Issue 10

Rules for expensing interest

As your company's or client's financial statements and tax returns are being prepared, questions may arise about interest expense. What is deductible and what is not-from loans on life insurance to commitment fees for lines of credit? Here is an update we recently gave in The General Ledger newsletter(www.aipb.org/general_ledger.html), the free monthly briefing for members. As a member, you have access to valuable information like this from prior issues at the AIPB Web site on the "Members Only" page.

The rules are as follows:

 

This is one example of the practical help you get free as a member. Join now and let the February General Ledger  (www.aipb.org/general_ledger.html)  show you:

 

Join now (www.aipb.org/member_benefits.html) and you also get these special benefits:

Free Report #1: "21 Key Bookkeeping Changes in Current Tax Laws." Discover:

Free Report #2: "Better Bookkeeping in 15 Minutes-the 25 Best Bookkeeping Tips of 2006." Find out how to:

Free Report #3: "The Bookkeeper's Guide to Internal Controls." Know easy ways to protect yourself . . .

Pick up ways to protect your company or clients, including...

And these 3 free reports are just a sampling of your membership benefits.

 

Join now and you also get monthly updates on new bookkeeping and reporting requirements... instant answers to bookkeeping questions on our free telephone Answerline... member discounts on products and services for bookkeepers, and more. To join now, click on www.aipb.org/membership_application.php.

 


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