Guaranteeing a Loan to Your Corporation? There May Be Tax Implications
Let’s say you decide to, or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax implications. If your corporation defaults on the loan and you’re required to pay principal or interest under the guarantee agreement, you don’t want to be caught unaware.
Copy and paste this URL into your WordPress site to embed
Copy and paste this code into your site to embed