Declaring Bankruptcy When Will Owe Irs Due: Difference between revisions
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Revision as of 02:49, 21 September 2024
Right because of the get-go -- this is my territory. I know the legalities and practicalities of the offshore world better than all but, maybe, 500 experts in the industry. If do not want to know recognized to have these people (and difficult to do is on top of the internet working sell you something) then please to be able to me with both hearing.
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Another angle to consider: suppose company takes a loss of revenue for the whole year. As a C Corp there exists no tax on the loss, however there additionally no flow-through to the shareholders several an S Corp. Losing will not help private tax return at everyone. A loss from an S Corp will reduce taxable income, provided there is other taxable income to reduce. If not, then is actually no tax due.
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Defenders for this IRS position would say it comes home to Section 61. The waitress provided a service for me, and I paid for it. Compensation for services is taxable. End of story.
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