Thank you all so much for your input. He does have a professional that's he's using. That's one thing he learned from me 🙂 Thank goodness. He has expensed all that he can. But my question really is if he pays off 70,000 in business debt then his taxable income is increased by 70,000? Or are his expenses just decreased by that amount? Now maybe he just didn't explain to me right, all I know is that he owes taxes because he paid off the debts. thank you!
