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re: how can I justly avoid paying taxes on this?
Posted on 6/24/13 at 2:41 am to Poodlebrain
Posted on 6/24/13 at 2:41 am to Poodlebrain
quote:
If there was no interest paid on the loan, then you need to follow the rules for below market rate loans. You'll have to look them up, or consult with someone familiar with them, to see what the requirements are since they depend on the facts and circumstances of the original transaction and any subsequent payments.
Whoa now. There's something accounting-related that Poodle doesn't know?
1
Posted on 6/24/13 at 8:56 am to foshizzle
quote:Actually, I am familiar with accounting for below market rate loans, usually loans made between related parties. It's just not possible to guess all of the facts and circumstances surrounding the OP's situation to give an answer that is more than a guess.
Whoa now. There's something accounting-related that Poodle doesn't know?
International taxation is an area I have little to no experience with. Oil and gas industry accounting is also foreign to me.
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