Hi, Can a business pay the debt incurred by another business?If so, are there any tax benefits?Thanks?

Question

Hi, Can a business pay the debt incurred by another business?If so, are there any tax benefits?Thanks?

Answer 1

Hi,

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Answer 2

Only if there is some business advantage for the business paying the debt.

Answer 3

There are no tax benefits.  This is not your debt, not your expenses, etc.