Consider the tax effects of interest-free family loans before lending money. The IRS may see the loan as a gift, which could be subject to unexpected taxes. This article covers six steps to avoid a tax bill.
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IC-DISC: What is it and how does it work?
An Interest Charge Domestic International Sales Corporation, or IC-DISC, offers a significant federal income tax savings for making or distributing U.S. products for export.
Understanding Tax Issues Related to Shareholder Loans
This article explains the importance of treating shareholder loan transactions as bona fide loans and charging an “adequate” rate of interest.
Grantor Retained Annuity Trusts (GRATs)
Grantor Retained Annuity Trusts (GRATs) are a powerful estate planning… Read more »
A Beginner’s Guide to Vacation Home Rentals
A vacation home that generates income and provides a place… Read more »
Will New Tax Benefits for Film TV Production Make Tennessee Ready for Its Close Up?
During the recently concluded 2021 legislative session, the Tennessee General… Read more »
Three Reasons a Daily Money Manager is Right for You
Keeping track of your money can often feel like a… Read more »
Cryptocurrency and Tax Planning
Most of us are familiar with some forms of digital… Read more »
Tax Obligations from Transitioning to a Remote Workforce
The COVID-19 pandemic has forced many businesses to close physical… Read more »
Online Submission for Form 2848/8821 Available for Tax Professionals
Per IRS Issue IR-2021-20 dated January 25th, 2021, accounting and… Read more »