Business Homework Solutions
#134468
Tax savings strategies for a small business
My wife comes to me with the following tax saving strategies:
Computer Consulting received $7900 from customers in the last week of December. Can she just hold on to the money and include it in January 2005 receipts?
She would like to purchase a car in the name of Computer Consulting. What are his options?
She would like to employ Jim and Rosa in his computer business.
Comment on whether these would be good tax strategies.
The solution presents a paragraph in response to each question about income and expense reporting for a small business. The explanations provide possible consequences in using certain strategies.
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Pat Mitchell, CPA - 4.9/5
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