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Guarantee a Loan to Your Corporation

The tax traps of personally guaranteeing a loan to your corporation

Leave a Comment / Business Bad Debt Deduction, Closely Held Corporations, Small Business, Small Business Owners, Small Business Tax Tips, Small Business Tips /

If you’re considering guaranteeing, or are asked to guarantee, a loan to your closely held corporation, it’s important to understand the potential tax consequences. Acting as a guarantor, endorser or indemnitor means that if the corporation defaults, you could be responsible for repaying the loan. Without planning ahead, you may face unexpected tax implications. A […]

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Guaranteeing a loan to your corporation? There may be tax implications

Closely Held Corporations, Corporations, Small Business, Small Business Owners, Small Business Tips, Tax Planning /

Let’s say you decide to or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser, or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax implications. If your corporation defaults on the loan and you’re required to pay principal or

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