How much money can I give or receive a gift, tax-free? This is a common question tax-payers have in mind. The answer depends on how well you use the gift tax laws to your advantage. During your lifetime you can Read More
No law prevents you from loaning money to family members. But, when you do so, it’s important to exercise caution. Why? Because, apart from the risks involved in mixing family and money lending, you may also have to deal with Read More
Are loans taxable? You’re probably wondering how a loan you’re about to take would affect your taxes. But before attempting to understand the tax implications of a loan, answer this basic question. What is a loan? It’s a sum of Read More