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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (607049)	4/7/2011 5:03:59 PM
From: i-node	Respond to of 1583406

>> So basically Chris is cheating on his taxes. Is that a fair assumption to make, based on what he claims in his posts? I am thinking of a specific post he made a couple years ago that suggested he was inappropriately using IRC Sec. 1034. But I don't remember the details. Suffice it to say that GM is likely adhering more closely to the tax law than Chris is.

To: Tenchusatsu who wrote (607049)	4/7/2011 5:14:05 PM
From: i-node	Read Replies (1) \| Respond to of 1583406

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.