The Ninth Circuit, affirming the Tax Court, recently held that to deduct a nonbusiness bad debt, the debt must be “wholly worthless,” and if the debtor reports cancellation-of-debt (COD) income, the ...

If you’ve been around closely held businesses long enough, you know that a transfer of money between a business and its owner, or between two related businesses, is sometimes characterized by the ...

Lisa Smith is a writer with a passion for financial journalism, contributing to popular media outlets like Investopedia and Bloomberg BNA. Erika Rasure is globally-recognized as a leading consumer ...

Figuring out when to take out a loan, pay cash, use leverage, or pass when something isn't affordable. Unpacking good vs bad debt. Myth: you should always pay cash if you can. Fact: investors should ...

The Tax Court found that advances made by Anaheim Arena Management LLC (AAM) did not constitute bona fide debt and therefore upheld the IRS’s disallowance of AAM’s bad-debt deduction for the advances.

Forbes contributors publish independent expert analyses and insights. True Tamplin is on a mission to bring financial literacy into schools. A high debt-to-income ratio is one of the most common ...

Debt is often discussed in negative terms, but debt isn’t just good or bad. It falls on a spectrum, and how you manage it plays a big role in how it impacts your finances. Bad debt is usually ...

Explore the fine line between good debt and bad debt, and learn how to manage your borrowing wisely to secure your financial ...