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Latest revision as of 20:03, 20 September 2024
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Rule: You decide to do not trust anyone else with dollars unless you also believe in them with your life. Even in the U.S. Trusting days should be ignored! For example, a person have family in Panama that you trust, you'll need don't know anyone could certainly trust in Panama. Panama is a synonym for anyplace. It's trust banks or lawyers or attorneys. Period. There are no exceptions.
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Another angle to consider: suppose business takes a loss for the age. As a C Corp there exists no tax on the loss, however there is also no flow-through to the shareholders significantly an S Corp. The loss will not help your own tax return at many. A loss from an S Corp will reduce taxable income, provided there is other taxable income to decline. If not, then put on weight no tax due.
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