#loans
Track and manage business loans, interest, and repayment schedules
The CFPB's Section 1071 small business lending rule takes effect January 1, 2028, requiring lenders that originate at least 1,000 covered small business credit transactions annually to collect and report data on applicants with $1 million or less in gross annual revenue, including optional demographic information.
The 43-day 2025 federal shutdown froze $5.3 billion in SBA-guaranteed loans for roughly 10,000 small businesses; pre-arranged bridge financing and a 30/45/60-day cash forecast are the practical ways to keep operating while an SBA closing sits in the queue.
Key person insurance is a policy a business owns on a critical employee, paying the company 5 to 10 times that person's annual compensation if they die or become disabled, and premiums are not tax-deductible under IRC Section 264(a)(1) unless Section 101(j) notice-and-consent is completed before the policy is issued.
Purchase order financing pays your supplier directly to fulfill a large customer order, typically costing 1-6% of supplier costs per 30-day period (roughly 20-60% effective APR), and is best suited for resellers with 20%+ gross margins and orders above $100,000.
A loan covenant breach can trigger default even without a missed payment; this guide explains DSCR, leverage, and current ratio covenants, cross-default and MAC clauses, and how to track compliance monthly instead of quarterly.
A working playbook for independent mortgage brokerages: separating lender-paid and borrower-paid compensation under the LO Comp Rule, accruing EPO/EPD clawback reserves, classifying RESPA Section 8 payments, deferring lock and application fees, and staging loan-level data for HMDA LAR filing.
A working guide to pawn shop bookkeeping — how to record pawn loans as receivables, accrue service charges, transfer forfeited collateral to inventory at principal, comply with ATF Form 4473 rules on firearms redemption, and file Form 8300 when cash crosses $10,000.
59% of small businesses with debt sign a personal guarantee, and it overrides your LLC's limited liability. This guide explains unlimited vs. limited guarantees, bad-boy carve-outs, burn-off provisions, SBA's 20% rule, and how to negotiate or get released.
A below-market loan triggers Section 7872, which treats forgone interest as taxable income to the lender even when no cash changes hands. This guide covers the $10,000 and $100,000 de minimis exceptions, the gift tax connection, and how charging the AFR avoids the whole problem.
The OBBBA restores a personal car-loan interest deduction—up to $10,000 per year, above-the-line, for tax years 2025 through 2028—on new U.S.-assembled vehicles financed after December 31, 2024. Mechanics covered include the MAGI phase-out starting at $100K single / $200K joint, Form 1098-VLI reporting beginning in 2026, mandatory VIN entry on Form 1040, and edge cases for refinances, trade-ins, leases, and co-signers.
Section 163(h) decides whether your largest Schedule A line is a $14,000 deduction or an $8,500 one. Here is how the permanent $750,000 TCJA cap, the grandfathered $1 million pre-2018 loans, the HELOC "substantial improvement" rule, and the 2026 return of the mortgage insurance premium deduction actually work — with worked examples and the records you need on audit.
A practical breakdown of Form 4506-T, Form 4506-C, Form 8821, and the five IRS transcript types — what mortgage and SBA lenders need before first disbursement, and how borrowers can avoid identity holds, name mismatches, and no-record errors that stall closings.
