The decision to lease or buy a vehicle for your business is often not a simple one. Buying gives you more flexibility and typically a lower long-term cost of ownership. Leasing can allow for a lower monthly cost, better tax deductions and the ability to swap your vehicle every four to five years. Three […]
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 […]
