I am a musician who never thought id do well enough to have to deduct business interest, but I had some good years followed by some rough ones and I am trying to get everything caught up and made right. I had enough advice that I formed an LLC and opened a business account, but I had been terrible at cross utilization out of short term convenience. The credit card debt has held me under, but I am very relieved to find I can write-off that interest. How the holy hell do I calculate interest paid on specific purchases? Much appreciated.
