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I'm ***** ***** Wakefield. I want to discuss recovering

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Hi. I'm ***** *****...
Hi. I'm ***** ***** Wakefield. I want to discuss recovering my initial investment from business income before taxes.
JA: Thanks. Can you give me any more details about your issue?
Customer: Yes. I invested 250,000 in my business early in 2015. The business produced enough income the first year for me to completely recover this investment. Can I recover the money and deduct it from income before taxes?
JA: OK got it. Last thing — Tax Professionals generally expect a deposit of about $32 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 1 year ago.Category: Tax
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Answered in 5 hours by:
4/3/2016
Tax Professional: Stephen G., Sr Income Tax Expert replied 1 year ago
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,243
Experience: Extensive Experience with Tax, Financial & Estate Issues
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Well, how this "recovery" as you put it, is treated for income tax purposes depends, in part, on how your business is organized. Are you operating as a sole proprietorship, corporation, etc.?You probably can recover your investment one way or another, but there would be no tax deduction related to that.Please give me some more details of your operation; what type of business is it & as noted above, how is your business organized?
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