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+--- Thread: lending money (/showthread.php?tid=147106)
Re: lending money - freeradical - 01-11-2013
http://www.prosper.com/
http://www.lendingclub.com/home.action
Re: lending money - space-time - 01-11-2013
freeradical wrote:
http://www.prosper.com/
http://www.lendingclub.com/home.action
what does this have to do with this topic?
Re: lending money - freeradical - 01-11-2013
space-time wrote:
[quote=freeradical]
http://www.prosper.com/
http://www.lendingclub.com/home.action
what does this have to do with this topic?
Shakespeare...
Re: lending money - Buck - 01-11-2013
Many people will want to be your friend.......
Re: lending money - Ken Sp. - 01-11-2013
If you do decide to structure it as a "loan" then to offset what interest you need to charge, to satisfy the IRS, you're actually able to "gift" the amount of interest payment to that person as a gift, up to $13,000 per year.
Re: lending money - NewtonMP2100 - 01-11-2013
transfer to unmarked bonds......???
Re: lending money - Michael - 01-12-2013
Minimum interest rates for IRS purposes are published each month by the IRS. They are called Applicable Federal Rates (AFR) and vary for short term (less than a 3 years), midterm (3-9 years) and long term (9 years and beyond). Here's a link for the current one:
http://www.irs.gov/pub/irs-drop/rr-12-31.pdf
So, the December ruling was that the minimum short term interest rate was .24% annually; for midterm it was .95% annually and for long term it was 2.40% annually.
The Jan ruling should be out any time now.
A simple document indicating the amount loaned between the two parties listed, the term and the interest rate of at least the AFR should satisfy the IRS.