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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Richard Nehrboss who wrote (2311)9/29/1999 1:46:00 PM
From: Investor2  Read Replies (1) | Respond to of 5810
 
Re: "I own a company in which I keep assets (MSFT, CSCO, etc) ..."

What is the corporate structure, C-corp.?

Best wishes,

I2



To: Richard Nehrboss who wrote (2311)9/29/1999 11:41:00 PM
From: Colin Cody  Read Replies (1) | Respond to of 5810
 
Richard, A C-Corp paying a dividend is double taxation. You might consider paying a salary & pension plan contribution.

You also might consider electing S-Corp. Little/No double taxation and no accumulated earnings tax.. IF you clear out all prior C-Corp earnings...

or start out right. form a new corp and immediately elect S-Corp status. You'll never have the accumulated earnings tax problem again!

Colin


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