Accounting question for personal loan with title in LLC
Hi guys,
I know there are tons of discussion regarding getting a loan under your name and putting the title in your LLC.
May be I am not looking hard enough but I can't seem to find how to do accounting in this situation.
How would you bookkeep expenses (closing costs, property tax, mortgage interests, etc )? Are you able to deduct these expenses that are originally in your name on LLC tax returns?
Hope this makes sense.