Obtaining Bad Debt Deductions from Loans to Closely-Held ...

Shareholders of closely held corporations are often asked to guarantee loans made to their corporations by lending institutions and third parties.

Before a shareholder agrees to serve as guarantor, endorser or indemnitor of a debt obligation, the shareholder should consider the tax consequences of a default by the corporation.

If a shareholder is compelled to make good on a corporate obligation,...

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Website: http://www.korntax.com

Related topics : shareholder loan bad debt / business loan debt / employee loan bad debt / debt loans for bad credit / loan bad debt

Deducting Nonbusiness and Business Bad Debts

Bad Debts


Bad debts arise because money was lent to a borrower or credit was extended to a customer for the purchase of a product or service, but the recipient was unable to partially or fully repay the liability. The following required factors determine the deductibility of bad debts:

there was a bona fide debtor-creditor relationship

the debt was worthless, meaning that there is...

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Date: 2017-01-10 19:58:32
Website: http://thismatter.com

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Credit Union Car Loans for Bad Credit - CarsDirect

Credit union car loans traditionally require good credit for competitive rates. There are still ways to get a credit union car loan with bad credit.

Finding credit union car loans for bad credit standings can be difficult, but not impossible. Many people who have poor credit scores face the possibility of not qualifying for traditional loans at reasonable rates. Before you seek an "alternate"...

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Website: carsdirect.com

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Related Parties Debt Remission - EY - Global

Tax Watch Edition 3, March 2015

Related Parties Debt Remission


Inland Revenue gives taxpayers half a loaf

Last year, Inland Revenue put out its draft view that corporates converting debt to equity to clean up their balance sheets could amount to tax avoidance. We strongly disagreed .

Inland Revenue has now released Related parties debt remission , which will - in part - overrule its earlier...

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Date: 2015-08-28 04:50:38
Website: http://www.ey.com

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5 Ways to Borrow Money With Bad Credit - wikiHow

Getting a Loan from a Friend or Family Member


Find someone to borrow from. If you have a friend or family member who is willing to loan you some money, this may be your best option, as someone you know is more likely to loan you money on flexible terms and/or at a better rate.


Agree to terms. Make an agreement with your friend or family member about how much they are willing to loan you and...

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Website: http://www.wikihow.com

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Law Central - Div 7A Loan Agreement

Only a "private" Pty Ltd Company can fully use the "Div 7A loan agreement".

This hint is provided by Law Central Legal.


Why do I need a Div 7A Loan Agreement?

Ever grabbed your Company cheque book and purchased something personal for yourself? Then you said, "I will leave it to my accountant to document that later". That documentation process is now much more complex than it once was.


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Website: http://www.lawcentral.com.au

Related topics : company loan interest rate / company loan agreement / bank loan interest rates / mortgage loan rate of interest / interest rates loan

The Banking System: Commercial Banking – How Banks Make ...

As mentioned before, banks basically make money by lending money at rates higher than the cost of the money they lend. More specifically, banks collect interest on loans and interest payments from the debt securities they own, and pay interest on deposits, CDs, and short-term borrowings. The difference is known as the "spread," or the net interest income, and when that net interest income is...

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Date: 2017-02-28 08:48:59
Website: http://www.investopedia.com

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