lending money

[freeradical]

http://www.prosper.com/


http://www.lendingclub.com/home.action

[space-time]

freeradical wrote:
http://www.prosper.com/


http://www.lendingclub.com/home.action

what does this have to do with this topic?

[freeradical]

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...

[Buck]

Many people will want to be your friend.......

[Ken Sp.]

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.

[NewtonMP2100]

transfer to unmarked bonds......???

[Michael]

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.