Rebecca MacGregor quoted in Forbes’ “Need A Loan? Tax Rules Now Let You Borrow From Family At Ultra Low Interest Rates”
During this time of economic need, small business owners are turning to their families for financial support. The IRS is offering special interest rates ranging from 0.41% – 1.12% depending on the length of the loan. Forbes spoke with Rebecca MacGregor about family loans and the situations these small business owners are in.
“People are risking their own money for their brother, sister, kids, grandkids,” says Rebecca MacGregor, an estate planning lawyer with Bowditch & Dewey in Boston, Massachusetts. She’s recently set up intra-family loans in the case of clients trying to hold onto a gas station, a third-generation Italian restaurant and a fifth-generation insurance agency. “No one is singing the praises of the family and friends who are saving these small businesses,” she says. “They’re unsung heroes.”
Continue reading “Need A Loan? Tax Rules Now Let You Borrow From Family At Ultra Low Interest Rates” on Forbes’ website.