Dealing With Tax Problems: Easy As Pie: Difference between revisions

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Revision as of 22:06, 22 January 2025

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Another angle to consider: suppose your business takes a loss of profits for the year. As a C Corp presently there no tax on the loss, however there additionally no flow-through to the shareholders it seems an S Corp. The loss will not help your personal tax return at a lot of. A loss from an S Corp will reduce taxable income, provided there is other taxable income to decline. If not, then can be no income tax due.

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