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Q:
Subject: larger Corps??I've read your article with interest especially the double taxation paragraph.
I'm nearing the company formation filing time and, with help from many sources, am looking mostly at the LLC. I started to draw away from the C early on because of the large taxes....I must state that the company with be in the 10's of millions in a year....
I (we) are certainly not interested in giving a dollar more to Sam than we are forced to but do wish to keep ownership and operations private and simple....where is the trade off?
What happens in a C to the larger amounts of profits? And, I mean large...
All the best,
A:
There are far too many variables involved for me to be able to advise the best entity and jurisdiction to use for your particular situation via this medium.
To work out the best solution for your particular circumstances, you really need to work with a tax pro who can help you set up a strategy that will work for you. If you are truly looking at millions of dollars of income, you would be nuts not to pay the bucks for a good professional tax advisor.
Good luck.
Kerry Kerstetter
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 6/18/2005 02:31:00 PM Send this post:
