Andrew L. asked

💰  Tax

As a foreign national, I was given a loan by a NY-based bank for my business in the UK. Do I have to pay FACTA or any other taxes for transferring the money to the UK, and are there any limits to this?

April 28th, 2023

Elizabeth B. answered

Loans are not considered taxable income because they must be repaid. Therefore, there are no US taxe...

April 28th, 2023

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