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Look into a LLC, a Limited Liability Corporation. It avoids the double
taxation problem.
TQuinn211@xxxxxxx wrote:
>
> 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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