Car Tax - Might I Avoid Repaying: Difference between revisions
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Revision as of 15:40, 15 October 2024
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Another angle to consider: suppose company 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 as with an S Corp. The loss will not help your tax return at everyone. A loss from an S Corp will reduce taxable income, provided there is other taxable income to scale back. If not, then put on weight no income tax due.
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