Deductions

“I incurred massive personal credit card debt to fund my struggling business, is the crippling interest I pay on those cards tax deductible?”

Whether credit card interest tied to a struggling business is deductible often depends on how the debt was used, how the charges were documented, and whether the spending was truly for business rather than personal purposes. In many cases, the distinction between personal borrowing and business borrowing matters more than the card itself, especially if funds were mixed across expenses. Recordkeeping, the nature of the underlying purchases, and how the business is organized can all affect the tax treatment. Because interest rules can vary with the facts, the answer is often less about the balance owed and more about tracing the use of the borrowed money. A targeted review with a CPA can turn the uncertainty into a clear next step.

This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.