- Joined
- Nov 19, 2007
- Messages
- 47
Can anyone please advise me about the corporate accounting details of
re-covering your original dollars input to place a down payment. Does that qualify as a LOAN?
I know that there is something about waiting for 18 months before you can withdraw it? Can the down payments be recorded as Loans to the company (rather than as Owner's Equity), so that you can have a repayment of your loan later?
Or must they stay in the corporation as Owner's Equity, locked in, and not removed unless the property is sold?
If so, would this mean that the only loans possible would be for things other than down payments?
Or would it be possible to re-claim the down payment as a loan, if it were entered as a loan to begin with.
Is it not possible at some point to remove your down payment equity and let the corporation stand on it's own feet?
And... there is something about depositing money every so often as a loan, and then withdrawing again right away, so that you can re-claim earlier loans on the 18 month cycle?
Any help is appreciated.
Everyone having fun?
re-covering your original dollars input to place a down payment. Does that qualify as a LOAN?
I know that there is something about waiting for 18 months before you can withdraw it? Can the down payments be recorded as Loans to the company (rather than as Owner's Equity), so that you can have a repayment of your loan later?
Or must they stay in the corporation as Owner's Equity, locked in, and not removed unless the property is sold?
If so, would this mean that the only loans possible would be for things other than down payments?
Or would it be possible to re-claim the down payment as a loan, if it were entered as a loan to begin with.
Is it not possible at some point to remove your down payment equity and let the corporation stand on it's own feet?
And... there is something about depositing money every so often as a loan, and then withdrawing again right away, so that you can re-claim earlier loans on the 18 month cycle?
Any help is appreciated.
Everyone having fun?