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IRS Says Loans Aren't Taxed, But Audits When Loans Are Income (Forbes) - Can the IRS claim that âloanâ proceeds are really sales proceeds and therefore taxable? Sometimes, yes. Thatâs exactly what happened to Jonathan Landow. Landow took out a 90% loan against securities he put up as collateral. ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES How to Insert an Animated GIF into a PowerPoint Presentation (How-to-Geek) - During a presentation, a mix of different media types keeps things entertaining, and a well-placed animated GIF is no exception. You can use them to convey a message, demonstrate an activity, capture the audienceâs attention, or just add some humor. Define âCPAâ (Accounting Today) - Consider the following two questions: What is a CPA? And what is a CPA firm? These are not trick questions (mostly). But nor are they simple ones, the kind that can be answered by spelling out the acronym or citing the relevant statutes. How Much Gas Tax Adds to Cost of Filling Up Your Car in Every State (USA Today) - Not including the cost of crude oil, taxes are the single largest factor in determining how much Americans pay at the pump. The Average 401(k) Balance by Age (Tampa Bay Times) - Itâs fun to rubberneck at 401(k) balance averages, but they wonât tell you much about your own retirement readiness. Taxation Accounting/Audit Business News |  TOP 5 MOST READ TOOLS OF THE TRADE e-BREAKS  Groco Joke Man   |