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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: J_F_Shepard who wrote (2017)	8/25/2008 8:27:58 PM
From: Brumar89	Read Replies (1) \| Respond to of 86356

Don't corp's have more loopholes and tax breaks than individuals?????? You did say they prerer to have their income reported as individual income? They're able to deduct some things as business expense that individuals might not be able to. And there are loss carryback and forwards. OTOH individuals have some deductions corporations wouldn't. This isn't the major issue though. Avoiding double taxation is. For a small closely held corp, why pay tax on the corporate income only to have to pay tax on the income again when it sooner or later goes to the owner? They would arrange for the income to be recognized as individual income from the getgo.