The best way as a business owner to file taxes to show a personal income w/o showing my business as income?

I am a new small business owner, at this time I am able to show a small loss on my taxes which has made it hard for me to apply for a personal loan. Is there a way I can do my taxes seperatly and not have to show the business' loss and still show me as having an income. My goal is to be able to walk into a bank and get a personal loan like I did prior to owning this business when I would just get a W2 from my employer. I was not planning on being dishonest. I was just saying that there is no need for them to know my business about my business for a personal loan.

Public Comments

1. I don't think that what you propose would be the best course of action. Honesty is one of the primary things that lenders look for in a person. Lying to them about what is happening with your business is not something you want to do. Most new business lose money initially. What you need to do is prepare a business plan with projections as to income and expense over the next 5 years. Bankers look for this information before lending money to owners of new businesses. You will never walk into a bank again like you did as an employee. You are now an entrepreneur which puts you into a totally different category. Be honest and upfront. If your business is a good one, you will be able to obtain financing. Good luck in your new venture.
2. Incorporate your business. You will be a regular W-2 employee, with a salary, and your corporation's finances will be of no interest to the bank for a personal loan. Then at tax time, your salary is a tax deduction from the corporation's finances, so you can still take a loss on the business for tax purposes.