Can a friend loan me $100,000 without paying taxes?

  1. profile image45
    harryblesyposted 7 years ago

    Can a friend loan me $100,000 without paying taxes?

  2. KeithTax profile image75
    KeithTaxposted 7 years ago

    Yes. A loan is not income. Loans go on the balance sheet, not on the P&L.

 
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