Guaranteeing a Loan for Your S Corporation

In Phillips v. Commissioner, No. 17-14439 (11th Cir. 2018), the court concluded that a judgment against the owner of an S corporation for guaranteeing the business debts does not increase the owners tax basis in the S corporation.  This is one area where a little advance planning can go a long way to avoiding a tax […] The post Guaranteeing a Loan for Your S Corporation appeared first on Houston Tax Attorneys: Mitchell & Patel.

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