3 Reasons Many Family Loans Turn into Grants

September 4, 2012 Tax News 1 Comment Print this page Share

Have you made a loan to a child or grandchild?

When making a loan, you have an expectation of getting paid back.  When a family loan turns into a grant, you’re not going to get paid back. Here are 3 reasons a family loan may turn into a grant.

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3 Easy Ways to Financially Help Your Children or Grandchildren

July 17, 2012 Tax News 1 Comment Print this page Share

Do your children or grandchildren need some financial assistance?

 

Here are 3 Easy Ways to help them:

 

1) Make a Loan

Parents and grandparents can loan to their child or grandchild.  If this is the approach taken, a formal loan agreement should be drawn up.  This should include interest and the repayment terms.  The Internal Revenue Service ("IRS") will require a minimum amount of interest to be … Continue reading »

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