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How Sales Taxes Affect Your Bids: Loans Between Loved Ones

How Sales Taxes Affect Your Bids: Loans Between Loved Ones

Loaning money to family and friends is tricky business for many reasons. Taxes are among them. Funds received as proceeds of a loan aren’t taxable if the borrower is expected to pay it back. However, the moment some or all of the debt is forgiven (doesn’t need to be...

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Loans Between Loved Ones

Loans Between Loved Ones

Loaning money to family and friends is a tricky business for many reasons. Taxes are among them. Funds received as proceeds of a loan aren’t taxable if the borrower is expected to pay it back. However, the moment some or all of the debt is forgiven (doesn’t need to be...

read more