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Time to Review Related-Party Loans
Loans between family members and other related parties have become increasingly common while interest rates have been near historical lows. But, as interest rates have started to climb, related-party loans could lead to unexpected tax consequences. Here’s what borrowers and lenders who participate in these loans should know to help minimize the potential adverse tax effects for both parties.
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Tread Carefully When Renting Space
Physicians who rent office space to health care suppliers and providers must make sure that the rental amounts reflect fair market value, according to a special fraud alert issued by the Office of Inspector General. Otherwise, physician-landlords could be charged with accepting excessive payments in exchange for referrals — a violation of the federal anti-kickback law.
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“Trade you” – Bartering Offers a Welcome Alternative in Tight Times
Bartering can be an attractive avenue in an economic downturn or if your business is just tight on cash. You can exchange almost anything without money changing hands. Barter directly with another business or turn to an exchange company, which can provide more choices.
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What Can Employers Do with Forfeited Employee FSA Balances?
A flexible spending account (FSA) is a health care benefit that provides tax savings for employers and employees. FSAs contain a “use-it-or-lose-it” feature. This could result in employees losing money not spent in accounts after a certain amount of time. Here are the basics of FSAs, as well as what employers’ options are for forfeited employee balances.
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