Imputed interest rate

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Jan 31, 2009 12:55 pm

For those that have made a move lately or signed a retention deal what was the imputed interest rate on your forgivable loan? Please give the firm too.



Thanks.



(usually firm pays the interest but the FA has a taxable obligation for that interest in that year as well)

Jan 31, 2009 3:40 pm

5%

Feb 1, 2009 10:03 am

what firm?

Feb 1, 2009 11:02 pm

BAI is 5%

Feb 1, 2009 11:05 pm

BAI makes the FA write a check every year over 6 years, then they run it through payroll, grossed up with the 5 % of the remaining "loan" shown as imputed income.  Then it all hits FIT, State, SS and Medicare.