Hard Private Money Borrowing? – Partner with CGF

Instead of putting 100% of your cash on hand into one property you could put 20% with CGF investment strategies while CGF covers 80% allowing you, the borrower, to invest in potentially five properties for price of one.  CGF as a Hard money (Private) lender has more flexibility than typical banks.  We evaluate borrowers based on their real estate experience, project analysis (cash flow, budget, turn times), and future value of property after fixed up or newly built.  By working with CGF hard money lending options a borrower is getting a knowledgeable business partner who has “skin in the game”.

CGF will evaluate a project and have an answer within 24 hours with hard money funding quick and seamless in days (not extended weeks or months). Will make sure you understand all loan details with no hidden costs. We want you to meet or exceed projected profit goals timely, allowing you to move on to next project with CGF as your private hard money lender

Income Tax Corner
PPP loans – Debt forgiveness is not taxable and businesses can deduct expenses paid for with forgiven loan amounts. As a general rule, cancellation of debt income is taxable, but Congress provided an exception for businesses that take out a loan through the Small Business Admin., Paycheck Protection Program and get it forgiven. Many states follow the federal law, but others tax the forgiven debt or deny firm a tax deduction for their expenses. Be sure to check the law in the state in which your business files tax returns.

Cash rewards earned on credit card purchases generally not taxable –  In unique case individual manipulated American Express’s rewards program. Taxpayer bought VISA gift cards with credit card, earned cash rewards, and used gift cards to buy money orders that he deposited into his bank. Over two years individual spent $6 million on purchases and earned $300,000 in rewards.  Tax Court ruled rewards earned through VISA gift cards are tax-free. But rewards earned on purchased money orders & reloadable debit cards are taxable. (Anikeev, TC Memo. 2021-23).

Contact Information
www. cgf-inc.com – phone – Ken – 458-209-1484 or email ken@cgf-inc.com
Corporate NMLS – 1913112 MLO – NMLS -1913394
CGF can beat other Private money lender rates – Inquire to compare.
(March 2021)