A friend of mine is lending me a few million to start investing in the real estate market and other business adventures. Does the IRS get involved and tax me on the incoming wire transfer? Once I start shifting money in and out of my account, will there be an taxation from IRS? Will the taxation be on capital gains or interest earned, or is there much more involved? Can you please recommend a good website that lists all the governing rules and legal regulations?
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You really need to consult a tax specialist to assist you in part of your investment program. The IRS taxes you on income, not on funds borrowed.
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You really need to consult a tax specialist to assist you in part of your investment program. The IRS taxes you on income, not on funds borrowed.
