Hi I currently own a small business for the last five years and now am trying to get a commerical credit loan. Bank asked for financials and my cpa returned to me a 'suspense list', totaling 375,000 for '08. Since this is for the whole year of 2008 I do not recall the purpose of a lot of the items listed if personal or business related. My objective of course is to secure this loan and want to make sure I turn in finacials that are credit worthy. My question is is it better to list the items on the suspense list as either business related or personal and what the implications are tax wise? Any advise would be greatly appreciated.
