PDA

View Full Version : C-Corporation and Officer Loan Receivable Account



sri74
01-22-2010, 12:25 PM
Hello

What are the accounting rules on a officer loan account? I have a new client that wants me to take his business rent expense and reclass it to his officer loan account and the officer will run it through payroll probably next year.

What are the accounting rules behind this or tax rules? This seems to be a bona fide business expense "rent expense" but the owner doesn't want to show it as an expense.

Help!

Thanks!

Evan
01-24-2010, 09:34 PM
So the corporation is paying him rent? For the use of his home?

More details, and I'd be glad to provide a more educated answer.

Evan
01-24-2010, 10:05 PM
Oh, and is this for tax, or financial statement purposes? GAAP? I'm a bit confused as to your background. :)