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How exactly to lend cash to a member of family without getting whacked by the IRS

Donnerstag, Februar 27th, 2020

How exactly to lend cash to a member of family without getting whacked by the IRS

You need to loan cash to a family member that is cash-strapped? That’s a pleasant sentiment, but be sure to simply take my advice and also make the way that is tax-smart.

Here’s how exactly to accomplish that:

Charge IRS-approved interest rate

You may face unfavorable and complicated tax rules, as I’ll explain later if you make a loan to a family member and charge zero interest. (mehr …)