Business Bad Debt Deduction

The tax traps of personally guaranteeing a loan to your corporation

If you’re considering guaranteeing, or are asked to guarantee, a loan to your closely held corporation, it’s important to understand the potential tax consequences. Acting…

Read More: The tax traps of personally guaranteeing a loan to your corporation
Deduct a loss from making a personal loan to a relative or friend

Suppose your adult child or friend needs to borrow money. Maybe it’s to buy a first home or address a cash flow problem. You may…

Read More: Deduct a loss from making a personal loan to a relative or friend