Family Loans: Should You Lend It or Give It Away?

Understanding the tax implications on intra-family loans is critical if you’re considering helping out a friend or family member financially. It’s great to be in a position to assist someone you care for. Whether gifting or loaning money, this article at Schwab.com will help you understand some of the top level rules and regulations set forth by the IRS and Federal government. 

For example, did you know that the “IRS mandates that any loan between family members be made with a signed written agreement and a fixed repayment schedule…”?