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Business & farm
You can't fund a Sole Proprietorship as a silent investor, but you can loan an individual money. If you treat the amounts you charged on your credit card as part of the loan, then yes, he can deduct those amounts.
To be clear, this is not a business investment, this is a personal loan. If you wish to be a partner and treat the money as a capital contribution, the two of you need to formally create a partnership.
March 29, 2023
6:56 AM