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Re: Corporations:
While the original letter concerns tax issues and not trading a couple of
points are in order.
A trading account can be established for corporations regardless if it is the
primary purpose of the organization or not.
IRS looks at any corporate structure carefully to insure the tax breaks are a
benefit of the corporation not the purpose of it.
Dividends paid by Corporations are taxed twice. Dividends received by a
corporation actually receive a 85% eclusionary tax break.
Being entrpreneurs we are sometimes too cheap to pay for advice. The cost of
Good advice is a lot cheaper than the expense associated with bad/wrong
advice.
Suggest to your friend to talk to a Tax Specialist.
Terry Quinn
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