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Interest Rates

Deduct a loss from making a personal loan to a relative or friend

Applicable Federal Rates (AFRs_, Business Bad Debt Deduction, Capital Losses, Federal Taxes, Personal Loans, Tax Implications Of Making a Personal Loan /

Suppose your adult child or friend needs to borrow money. Maybe it’s to buy a first home or address a cash flow problem. You may want to help by making a personal loan. That’s a nice thought, but there are tax implications that you should understand and take into account. Get it in writing You […]

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Weathering the storm of rising inflation

Business Mileage, Cash Flow, Inflation, Internal Revenue Service (IRS), Recession, Small Business, Tax, Tax Deduction, Tax Savings /

Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies. Is it time for business owners to panic? Not at all. As of this writing, a full-blown recession is possible but not an absolute certainty. And the impact of inflation

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