If you frequently work outside your workplace and accomplish tasks on the go, then DocHub is the document editing service you need. It’s a cloud solution that operates on any internet-connected device, and you can work with it from anywhere. The interface is easy-to-use yet powerful, so you’ll need only a few moments to Delete note in Tax Sharing Agreement and make other necessary updates.
Stop wasting time trying to find an excellent document editor; try out DocHub now and prepare your paperwork no matter where you are!
[Music] hi im paul herman of hermann and company certified public accountants located in white plains new york todays question is what are the tax implications of a promissory note so lets review what a promissory note is promissory note is a written promise to pay someone under a given set of terms which includes a rate of interest and a repayment date promissory note is an iou its a legal written evidence of a debt between two people two parties the person making the loan will receive interest income from the borrower the interest income will be taxable income and reported on that persons tax return as ordinary income the treatment for the person making the interest payment is a little more complicated because it can be treated in a variety of ways so let me give you an example lets say i buy a car from you a used car and we agree that im going to pay you ten thousand dollars but i can only afford to pay you five thousand dollars now so you agree to let me pay you the remainin