How Does A Loan Modification Effect Your Income During Tax Time? Does The Company Write Off The Loss?

February 7th, 2010 at 06:53am Under Loans

When a company writes of part of a debt, it is then recorded as income to the IRS and you pay taxes on it. Does the loan modifcation work the same way?

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How Do I Write A Loan Proposal For The Bank To Obtain A Loan To Open Up A Coffee Shop?

October 16th, 2009 at 06:45am Under Loans

My friend is paying me to write her a loan proposal to the bank so that she can get the loan to open up her coffee shop. I need help on where to begin or can someone point me to a sample copy? Thanks.

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If I Consolidate My Student Loan With A Personal Loan Can I Still Write Off The Interest?

September 16th, 2009 at 06:56am Under Loans

I had a federal student loan which I consolidated about 8 years ago to someone who eventually sold that loan to Citibank. I pay about 8.35% in interest. I am considering paying off that student loan with a personal loan where I can get a better interest rate. If I do this will I still be able to write off the interest I pay on my taxes?

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