Business or Personal Loan ???
I know that a business loan is tax deductible and that a personal loan is not. Other than that.. I have no idea about the differences and which loan would be best suited if I wanted some cash to do any of the following:
* Extra money to help cover expenses to travel for work interstate (cover airfare and accommodation only)
* Money to help me form my own company
* Money to help me form a SMSF (self managed superannuation fund)
* Money to help me attend the DancerWealthTraining in Las Vegas (cover airfare, accommodation and the training)
Whilst I plan on minimising my taxes so I can either pay the bare minimum or get something back (as I've been taxing myself 35% after each shift .. I'm 'over-taxing' myself on purpose).... I just want to consider maybe a loan so I can travel around Australia to dance (instead of locally), form my own company (for investment purposes, tax minimialisation and asset protection), form a SMSF (for the tax breaks it can provide) and attend the DWT (Dancer Wealth Training) in Las Vegas (only have one personal day/night in my time there otherwise I will only have time for the training).
I really want to attend the training as I feel it will help me immensely. There isn't anything like it available in Australia.
Would I be better of with a personal loan, business loan or a bit of both ? Which loan would suit each of the above goals ?
I know I'm Australian and we do have slightly different system down here... yet I feel some of it might be applicable to US people.
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