Loans To Family and Friends

Tax Consequences of Loans to Friends or Family

  If you loan money to a friend or family member to help them buy a car or a house, or start a business, the expectation is that they’ll pay you back. But what if they don’t?   Capital Loss Election Unless you’re in the money-lending business, your right as a creditor to receive repayment […]

Death and Taxes

Death and Taxes

  As Mark Twain pointed out, the only two certainties in life are death and taxes. And even in death you can’t escape taxation. In this article we’ll look at some of the tax issues that will arise after your death.   Final Tax Return Your final tax return will include all income received in […]