Tennessean for Fair Taxation!

Top Story and Bottom Line: 2014 Voter Education

Incredibly and unbelievably, our elected officials in 2012 and 2013 ducked the question on how to best fund basic services in Tennessee.

Rather than finding fiscal solutions, they kicked the ball to the general public.

The November 4, 2014 ballot will contain Ballot Measure #3 which, if approved, will ban for all time an income tax in Tennessee.

Those who may say "Hooray!" do not understand the issue - that taxes will eventually go UP, not down. In fact, many Tennesseans don't even know this will be on the ballot.

    VOTE NO on 3. SAY NO TO:
  • Handcuffs on funding options for basic civic services
  • Higher sales, property and business taxes
  • A permanent food tax
  • The highest sales tax in the nation, forever..

Our leaders will need options. Our children will need options.

    I AM a Tennessean for Fair Taxation!
  • Because every child deserves a quality education and a healthy start.
  • Because police, fire and environmental protections are foundations for safe and healthy communities.
  • Because food is a basic human necessity and should never be taxed.
  • Because jobs and business successes are tied to our investments in an educated workforce, effective transportation systems, and other public services.
  • Because I believe in preserving Liberty for future generations to best fund services lifting Tennessee.

    TAXES liberated us from:
  • driving on dirt roads,
  • disease-ridden communities from poor sanitation,
  • and one-room school houses.

TFT has a positive vision for Tennessee:

We can lower taxes overall for our citizens and businesses, AND achieve higher levels of funding for education, transportation, health and other key services.

"I like paying taxes. With them, I buy civilization." Oliver Wendell Holmes

Tennessean for Fair Taxation!

Paying off the business loan is a major headache for small business owners that take a loan in the struggle of growing their business because the interest rates are very painful. We are glad to inform you that you can write the interest payments as business expenses in your tax returns because the business loan is tax deductible.

Without any doubt, paying off a small business loan is a huge pain in the neck. But there are some advantages as well. You are going to use this money to grow your business, and you won’t have to worry about interest as it will be considered a business expense. It’s your responsibility to make sure that you meet all requirements of IRS that are important for a business loan interest tax deduction.

In some situations, the interest on the business loan isn’t tax deductible. So, it’s your responsibility to figure out if you are eligible for this write-off or not. We’ve prepared some information for small businesses that will help you understand if the interest on your business loan is tax deductible or not.

Things you need to know about Business Loan Interest Tax Deduction

In most situations, the interest on business loans is tax deductible. The business owners that are using the funds for business purposes can take advantage of this opportunity. Thus, you’d be able to deduct the interest payments from your taxes. And it will help a lot in reducing your annual taxes. Moreover, you’d also find it easier to make your loan repayment.

Here is some information about how you can become eligible for business loan interest tax deduction:

  • You are legally liable for the debt
  • There is a true lender-debtor relationship between you and the lender
  • Both you and the lender have signed an agreement for the loan to be repaid