In addition to holding the Lender responsible for the taxable imputed interest, the IRS also assumes that since the Borrower did not make the required interest payments, the Lender is considered to have gifted the Borrower the money to pay the interest that was due. The IRS wants to tax us on required interest income on legitimate loans.
See IRS Publication Likewise, if the Borrower is unable to repay the loan and the Lender wishes to deduct the loss from their income taxes, documentation showing that the loan was legitimate could be critical. Proper family loan documentation can also help avoid serious legal disputes with other family members especially between siblings or estate and repayment complications following an unexpected divorce or untimely death.
If a family loan is being used to specifically help purchase or refinance a home, the Borrower and Lender should consider the advantages of securing the loan through a properly registered Mortgage, Deed of Trust, or Security Deed. In most cases, by securing a family loan through a properly registered Mortgage Deed of Trust, or Security Deed, the Borrower will be legally entitled to deduct the interest paid on the loan from their taxes at the end of the year.
AFRs are used to determine the original issue discount, unstated interest, gift tax, and income tax consequences of below-market loans. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.
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What Are Minimum-Interest Rules? When two parties engage in a loan transaction, minimum-interest rules can mandate that a certain minimum interest rate be charged. Crown Loan A crown loan is an interest-free demand loan named after Chicago industrialist Henry Crown, who used the loans to reduce taxes on investment gains. Partner Links. Related Articles. Bonds How to Give Bonds as a Gift. Investopedia is part of the Dotdash publishing family. Your Privacy Rights.
To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page. These choices will be signaled globally to our partners and will not affect browsing data. This course provides an overview of the key issues foundational for understanding the dynamics of poverty and human development in African societies.
The course also intends to highlight the complex nature of the social, political, and economic causes of African poverty and their implications. Furthermore, it will identify the important challenges to poverty alleviation in African societies, the effectiveness of foreign aid, and alternative strategies to poverty alleviation. The course will also provide unique opportunities for students to develop a focused understanding of specific issues that affect Africa's socioeconomically vulnerable groups as well as related issues relevant for understanding the dynamics of poverty in specific areas on the continent.
Cross-listed with: SOC Supervised student activities on research projects identified on an individual or small-group basis. Formal courses given infrequently to explore, in-depth, a comparatively narrow subject which may be topical or of special interest. Course will develop awareness of contemporary issues in global health. It is intended to be an overview of fundamental perspectives about the historical, current, and future public health challenges facing developing and industrialized countries.
This course will 1. Cross-listed with: BBH This is a course on language rights, policy, and planning from individual, group, inter-ethnic, and national perspectives. Linguistic minorities are a consequence of colonization by European powers in different regions of the globe.
Other effects of colonization and political conflicts include mass movement, migration, and the emergence of nationalism. In such contexts, minorities have made demands for language rights and used language policy and planning as strategies to realize demands for social justice. This course will examine how linguistic minorities secure opportunities to use their own languages and have them accommodated in official legislation as mother tongue, second, or foreign languages.
The course will adopt a global perspective and analyze language rights as well as language policy and planning in diverse regions of the globe, including but not restricted to, Africa, Asia, and South America. Analysis will primarily focus on how language policies can be carried out from different perspectives e. After examining how language policies operate in and influence society, the course will use sociopolitical ideologies to explore the nature of the relationship between language policies and language rights and the ways this relationship enables one to achieve an expanded understanding of the impact of language policies and language rights on local language practices.
Introduction to the visual arts of Africa, including contemporary African art and the influence of African art outside Africa. The course will examine the arts of various African peoples in historical, religious, sociological and geographic contexts, providing an introduction to the many visual art forms of Africa including masquerade, costume, and indigenous architecture. While many of the arts in this field of study are from west and central Africa, the course will also include materials from southern and eastern Africa.
Contemporary African art, African Diaspora arts, and the influence of African art on European art are important topics that may be included. In addition to the traditional format of a geographic organization of the material, students will explore thematic approaches.
Each of the assignments requires completion of essays which draw upon the multiple course texts and readings. Exams include image identification and short essays. Cross-listed with: ARTH Supervised off-campus, nongroup instruction including field experiences, practica, or internships. Written and oral critique of activity required. Prerequisite: prior approval of proposed assignment by instructor. A course examining the South African government's policy of apartheid: its history, why it exists, how it works, and the prospects for change.
This course will examine the relationship between war and development in sub-Saharan Africa in the post colonial era. Specifically, it will analyze the extent to which the processes of state building, nation building, and international intervention have contributed to the incidence of both civil war and international conflict in Africa.
We will begin with a review of several theoretical arguments on the causes of warfare in Africa and then turn to a discussion of theses on African political development. This course complements present offerings in international relations and comparative politics in the PLSC department and can serve as an advanced undergraduate offering in the African Studies concentration in AFR.
The course directly complements our present offerings in international conflict given that we don';t have a regularly offered course that focuses on conflict in a specific region. In addition, it will augment our comparative politics offerings with an examination of prominent issues in comparative politics such as political development, democracy, and modernization. The course will fulfill the IL requirement and encourage students understanding of the historical background as well as the political, economic, and cultural factors that influence African politics.
African conflicts are often viewed as "ethnic conflicts" and in this class students have an opportunity to assess the extent to which ethnic, linguistic, or religious factors influence the likelihood of conflict and contribute to development in African states. Students will also be required to write essays evaluating the contribution of a range of theoretical arguments on Africa';s conflicts in order to assess the degree to which cultural more than political or economic factors contribute to their onset.
Students will then have the opportunity to conduct more extensive research on a specific African case to develop their analyses further. These exercises will often require that students reevaluate their beliefs about social identities such as race e. They also require students to challenge stereotypes regarding the subordination of African values in conflicts to a simple concern with "tribe". Students will gain a broader knowledge and appreciation of the different values, traditions, and cultures evident in Africa and understand how these can both exacerbate and mitigate conflict.
Evaluation in the course will consist largely of examination of the students' brief expository essays and larger case studies for which students will be encouraged to conduct original research. The course should be offered biannually with a class limit of about 40 students.
Cross-listed with: PLSC This course explores the various causes and impacts of ethnic conflicts in the African context. Ecological and cultural factors in the geography of Africa; natural resources and development. This course is designed to analyze the ecological, economic, political and cultural factors, which influence development in sub-Saharan Africa. The traditional system, colonialism, modernization, post-colonial philosophies are four conceptual artifacts used to address some of these issues.
Within these broad frameworks, the course focuses on existing debates surrounding key development ideologies and narratives in the region, including, poverty, conservation, population, debt, food security, land reform, foreign intervention and global politics. The topics and texts for the course are chosen carefully to provide general factual material as well as exposure to the major discourses surrounding the region's development.
The views of many Americans concerning Africa are often both unitary Africa is a country and unidimensional Africa is a place of conflict, poverty, corruption and crisis. Assuming that a number of students are likely to join the class with this general background, the main objectives of the course will be : i to provide a broad geographic and historical tutorial to dispel myths and stereotypes about the region; ii to explore the literature, which analyzes the historical, geographic and political factors that underlie the region's present status in the global economy; and iii to gain insights into the intellectual and ideological dimensions of the "raging" debates surrounding issues like environment, conservation, population, corruption, and poverty in the region.
Cross-listed with: GEOG
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