Tax implications of loaning money to family
The Paycheck Protection Program (PPP) loans came to save the day for many business owners struggling financially due to the COVID-19 pandemic. However, despite the evident financia...
The rules for withdrawing money from a 403(b) tax-deferred retirement plan vary by plan, but some allow for a hardship withdrawal or loans, according to the Internal Revenue Servic...
Uber Eats has become a popular platform for individuals looking to earn extra income by delivering food to customers. If you are considering becoming an Uber Eats driver, it is ess...
Do you ever worry that you may outlive your savings in retirement? With rising cost of living, and increasing rates of inflation, it’s more understandable than ever to be unsure of...
A person can gift money to a family member without paying tax by not exceeding the basic exclusion amount, notes the official web site of the Internal Revenue Service. The basic ex...
There are many, many times when you need money for something but don’t have it on hand. There are a lot of ways to borrow money to get what you need, but not all of them are create...
If you work in certain employment sectors, you can access different types of retirement accounts than you can with jobs that are typically limited to traditional 401(k) investing. ...
The term “social implications” refers to the effects that the actions of an individual or group have on such variables as the values, demographics or economic condition of an indiv...
Most qualified retirement plans, including pensions, allow employees to borrow against them and then repay the plan with interest, according to Investopedia. One benefit of taking ...
When borrowers default on 401(K) loans, they must pay regular income tax on the amount defaulted, and they are subject to a 10 percent federal tax penalty unless they qualify for a...