I've been in small business for over 20 yrs now without even being able to clear my debts. During this time all my interest payments have been written off against the business..... except for the wife's car. These include margin loans, L of C, overdraft etc. I will write a cheque or charge my plastic for all private expenses [including her plastic] charging the ex as drawings in my cash book. My overdraft increases by that amount but, I repeat, all interest and charges are deducted. Once we decided to build an investment home on a block of land we owned, we deducted all ex's there too. My wife does work for one the big4 and would never try to pull a swifty.
