What is the best way to deal with back tax debt?

Is there a way for personal debt to be tax deductible? Quebec, Canada?

I live in Quebec, Canada. I have some personal debt on a line of credit. I am an incorporated independent consultant, and pay myself a salary through my company. Is there any ...show more
Answer:

No can do. You will need to pay yourself (salary or dividends) and pay off the debt with the after-tax proceeds.

YLK6FFH5XNYTZ4M6IEHP3FZO7I at Yahoo! Answers Visit the source

Was this solution helpful to you?

Related Q & A:

How To Manage Personal Debt?Best solution by Yahoo! Answers
How can I search for a person's personal cell phone number?Best solution by Yahoo! Answers
Are Canadian donations tax deductible in the US?Best solution by irs.gov
What is the best way to settle debt?Best solution by Yahoo! Answers
Are legal fees for attorney tax deductible?Best solution by Yahoo! Answers

Just Added Q & A:

How many active mobile subscribers are there in China?Best solution by Quora
How to find the right vacation?Best solution by bookit.com
How To Make Your Own Primer?Best solution by thekrazycouponlady.com
How do you get the domain & range?Best solution by ChaCha
How do you open pop up blockers?Best solution by Yahoo! Answers

For every problem there is a solution! Proved by Solucija.

Got an issue and looking for advice?
Ask Solucija to search every corner of the Web for help.
Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.