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| *The Commerce Journal>>>Investing |
When you loan money to someone with the promise of a good interest return, is that considered as investment? |
If I loan some money to a company like Minvestment, which would give me a fairly good return in interest, can I declare this as money invested like I would for mutual funds for example? If you invest money with Minvestment you can declare it as a loss when you lose all your money. The site looks like a scam to me. They are offering over 2% interest a day. (not 2% a year, 2% a day) No one can honestly offer rates that high. Yes, it is an investment. an investment is a vehicle that enables you to have your money earn more money. Whether you put money in a savings account to earn 2% interest or in a personal note receivable that earns 6% interest, you have investment money in order to earn income. If the investment is risky, the return is higher to compensate for the risk. yes. interest income from loans is an investment. yes, it is. |
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