"Because his company is incorporated as a personal corporation. He has to show what moneys left in the bank as profit on his tax return. So he may not make anything for the year but if his company has two hundred and fifty thousand in the operating accounts as of Jan. 1st He owes personal income tax on it if the "Bush" tax cut are done in"
He needs to find a new accountant pronto.
Dave
This post was edited by davemk at 04:19:02 09/30/10.
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