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| Author: | Knight, L. Knight, R. |
| Title: | Family loans and loan guarantees |
| Journal: | Journal of Accountancy
1995 : OCT, VOL. 180:4, p. 45-50 |
| Index terms: | LOANS GUARANTEES RISK |
| Language: | eng |
| Abstract: | Borrowing from a family member or having a relative guarantee a loan can be vital to the economic well-being of certain individuals. Unfortunately, these loans often are granted in less than ideal economic situations, increasing the probability of default and inviting Internal Revenue Service scrutinity of any related bad debt deductions. Without careful planning at the outset, family members may find a conflict in the tax goals of borrowers and lenders. |
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