News & Articles

Tax Consequences of Borrowing From a Retirement Plan

Posted on Mon, Jun 04, 2018

If you participate in a qualified retirement plan through your job or self employment — such as a 401(k), profit-sharing, or Keogh plan — you might be allowed to borrow from the account. (The borrowing option is not available for traditional IRAs, Roth IRAs, SEPs or SIMPLE-IRAs.)

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Tags: 401k Plan, Retirement Plan, Interest, Loan

Business Borrowers: Here's What to Include in Your Loan Application

Posted on Fri, Nov 10, 2017

Whether in expansion mode or facing a short-term cash crunch, small businesses often find themselves in need of capital.

But applying for a loan is a time-consuming process that can easily become overwhelming. And there's always the nagging doubt that — despite your best efforts — the bank will decline your application.Yet with careful planning and preparation, small business owners can make the process move much faster and increase the odds of getting the loan.

Here's what lenders typically want applicants to focus on when applying:

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Tags: Business, Loan

How to Set Up an IRS-Approved Family Loan

Posted on Mon, Jul 17, 2017

Today's relatively low-interest-rate environment makes it easy to loan money to family members on favorable terms with full IRS approval. Here's a rundown of what the law covers and why now might be a good time to set up loans.

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Tags: IRS, Interest Rates, Family Loans, Loan

Loan Applications: Put Your Best Foot Forward

Posted on Wed, Sep 14, 2016
Need a loan to start or expand your business? Nearly a decade after the financial crisis of 2008, many banks remain hesitant about loaning money to start-ups and small business owners. Stricter lending policies often make applying for financing a nerve-wracking and time-consuming process. Here are some ways to give your loan application a leg up on other applicants.

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Tags: Line of Credit, Loan