Forgiveness of debts, also known as debt cancellation, is a relief to anyone who has been in debt. But what happens afterward with the taxes? When your debt is canceled or forgiven,...
Posted by CORE PERFORMANCE on 07/31/2021
As long as you repay such a loan fully, there is no need for income taxes on a personal loan. However, the forgiveness of any part of the loan or paying the loan for a lesser amount...
Posted by Karen Munoz, EA on 06/06/2021
There are cases in which some people will be able to get rid of all or part of their student loans using a forgiveness plan targeted at student loans. This removes the burden of dealing...
It is one thing to get admitted to the school and it is another thing to get the money to pay the fees. Getting into school (college) is an exciting thing. Thinking about the new atmosphere,...
If you are overwhelmed with student loan debt, there may come a time when it will be difficult for you to move forward. You make payments as at when due, but you are not even close...
The CARES Act (Coronavirus Aid, Relief and Economic Security Act) came up with a new assistance program for small businesses (with employees below 500) to cushion the coronavirus's...
If a creditor acquires your property through foreclosure and evicts you, or if you surrender your property before the eviction, the lender will send you an IRS Form 1099-A Acquisition...
Student loan interest stands out for having a lower rate, which might be attractive to many. However, there are still a couple of things to know if you consider taking a student loan. Effect...
While taxes for 2020 are not due until 2021, many important financial decisions made now can have a major impact on farm taxes and when they are paid. An important resource is the...