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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (607049)4/7/2011 5:14:05 PM
From: i-node  Read Replies (1) of 1583638
 
I confused two threads on this subject.

The IRC 1034 item I mentioned is unrelated to any corporate activity he may have; it was simply a reference to his tax avoidance technique mentioned a couple years ago.

The reference to corporate activities has to do with a corporation that is in form a for-profit corporation yet in substance is something else. Corporations are generally presumed to be "for profit" organizations, but that presumption may be overcome with evidence that it is being used otherwise. Loss of "for profit" status can result in denied deductions -- regardless of their sources -- as ordinary/necessary business expenses.
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