Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: Kaye Thomas who wrote (2306)	9/29/1999 2:35:00 AM
From: Richard Nehrboss	Read Replies (2) of 5810

Hey Kaye, or Colin... Quick question: I own a company in which I keep assets (MSFT, CSCO, etc) that has greatly appreciated. I was worried briefly about accumulated earnings tax. I found out that the IRS can include appreciated assets in the calculation of such a tax. Fortunately, I learned that the assets are used to calculate if you have accumulated earnings, but the tax is only based on actual earnings, therefore I'm off the hook. My next worry, is some kind of personal service corp tax. The only income the company has is from sale of shares of appreciated stock. At that time I pay the corporate tax on the capital gain (less margin interest) and distribute it as a dividend to myself. I then pay my share of the tax. Is everything cool here? Thanks Richard

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