Business in wife's name. best way to adjust for losses?
This query is : Resolved
23 July 2012
My wife started a home business couple of years ago (Proprietorship). It suffered losses and we closed down the business.
NOTE:
1. I loaned the startup capital for the business
2. My wife does not expect to earn income (salary or other) for next few years
What is the best way to adjust for losses in the business?
Can I adjust for losses against my income. I have salary and other income (investments).
Thanks,
Kapil
NOTE:
1. I loaned the startup capital for the business
2. My wife does not expect to earn income (salary or other) for next few years
What is the best way to adjust for losses in the business?
Can I adjust for losses against my income. I have salary and other income (investments).
Thanks,
Kapil
25 July 2012
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