How To Deal With Tax Preparation: Difference between revisions
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Revision as of 13:21, 22 September 2026
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CEO compensation is always taxable (Section 102 again), regardless of merits. I've had clients ask me to to negotiate the taxability of debt forgiveness. Unfortunately, no lender (including the SBA) is actually able to do such an issue. Just like your employer is to send a W-2 to you every year, a lender is required to send 1099 forms each borrowers who've debt forgiven. That said, just because lenders must be present to send 1099s doesn't mean that you personally automatically will get hit using a huge goverment tax bill.
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