I.O.U note to buy equipment

Discussion in 'Starting a Lawn Care Business' started by Green Quality, Feb 20, 2004.

  1. Green Quality

    Green Quality LawnSite Member
    Posts: 176

    Just wondering if any body has tried this ? pay cash, get a note i.o.u to your business. your business pays you back. without being doubled taxed. or charge interest%,a demand note or a loan installment agreement.with your business.
  2. Soupy

    Soupy LawnSite Gold Member
    Posts: 3,125

    If you are a sole proprieter it doesn't matter. You should be talking to your accountant though.
  3. jajwrigh

    jajwrigh LawnSite Bronze Member
    Male, from Martinsville, IN
    Posts: 1,405

    Why? Like soupy says its all your money, don't make things more difficult than they need to be.
  4. Green Quality

    Green Quality LawnSite Member
    Posts: 176

    but the whole idea is to let your money work for YOU!( right )you worked hard for it. put little hats on dollars bills and put them to work! Do you walk to school ,or carry your lunch?
  5. gogetter

    gogetter Banned
    Posts: 3,256

    Huh?:confused: :alien:

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