What is a debt acknowledgment?

An official acknowledgment of debt is concluded by means of a contract between the debtor and the creditor. At the same time, it describes the debtor’s obligation to pay a sum x to date x to the creditor. Also a installment payment agreement can amount to a debt acknowledgment, if this is linked by one. …

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What credit costs you can deduct from the tax

Under certain conditions, loan interest can be deducted for tax purposes. Once you use the borrowed money to secure your own income, you can credit your borrowing costs. Such expenses are part of the business expenses that reduce your tax burden. Basically, this applies just for loans around the topic of employment, training or real …

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