As we gather with family and friends over the upcoming holidays, they may use this togetherness as an opportunity to ask for a loan. If you are in a position to do so and are considering saying yes, it is helpful to understand how tax rules may affect your generous gesture. This newsletter article addresses how the structure of the loan can impact your tax liability.  

https://www.sharrardmcgee.com/newsletter.php#4

If you have questions about the best way to make and document loans to family and friends, ask your tax advisor at Sharrard, McGee & Co., PA. Call (336) 884-0410 in High Point and (336) 272-9777 in Greensboro.