Personal Interest

Personal Interest
Interest that taxpayers pay on personal and consumer loans. Personal interest is nondeductible, and the rates charged for this type of interest are often quite high. Personal interest that is received by the lender is usually reported on a cash basis.

Personal interest includes interest on car loans, credit cards, loans for appliances and furniture and interest on loans made by one person to another.

Many consumers elect to take out lines of credit on the equity in their homes so that they can pay off their personal-loan balances and deduct the interest on their lines of credit instead.


Investment dictionary. . 2012.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • personal interest — personal and genuine concern, individual interest …   English contemporary dictionary

  • personal interest — /pɜsənəl ˈɪntrəst/ (say persuhnuhl intruhst) noun an involvement that affects one s wellbeing or financial position, or, in some circumstances, that of one s family and relatives …  

  • Interest aggregation — is the activity in which the political demands of groups and individuals are combined into policy programs.Methods by which individuals and groups may effect changebringing people of like minds together to seek change or make demands on the… …   Wikipedia

  • Personal god — The expression, Personal God, refers to the belief that God is and can be related to as a Person. The personhood of God is one of the characteristic features of monotheism. In the sacred scriptures of Judaism, Christianity and Islam, God is… …   Wikipedia

  • interest — n. & v. n. 1 a concern; curiosity (have no interest in fishing). b a quality exciting curiosity or holding the attention (this magazine lacks interest). 2 a subject, hobby, etc., in which one is concerned (his interests are gardening and sport).… …   Useful english dictionary

  • personal — per|son|al W1S1 [ˈpə:sənəl US ˈpə:r ] adj 1.) [only before noun] belonging or relating to one particular person, rather than to other people or to people in general ▪ My personal view is that we shouldn t offer him the job. ▪ Style and colour are …   Dictionary of contemporary English

  • personal — /ˈpɜsənəl / (say persuhnuhl) adjective 1. of or relating to a particular person; individual; private: a personal matter. 2. relating to, directed to, or aimed at, a particular person: a personal favour. 3. a. relating to the physical presence or… …  

  • Personal Recollections of Joan of Arc — Mark Twain s work on Joan of Arc is titled in full Personal Recollections of Joan of Arc, by the Sieur Louis de Conte who is identified further as Joan s page and secretary. The work is fictionally presented as a translation from the manuscript… …   Wikipedia

  • interest — in·ter·est / in trəst; in tə rəst, ˌrest/ n [probably alteration of earlier interesse, from Anglo French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter between, among + esse to be] 1: a right, title, claim …   Law dictionary

  • personal property — see property Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. personal property …   Law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”