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Tips from the IRS
In most cases, gains from sales are taxable. But did you know that if you sell your home, you may not have to pay taxes? Here are ten facts to keep in mind if you sell your...
Time is running out to register for the best live EA Review Course anywhere! The NSA Enrolled Agent Exam Review Course, August 7-9 in Minneapolis. I am honored to present this course...
Consider consolidating. If that takes place, the due to and due from goes away and the debt/equity ratio might improve. ------------------------------ Jack Franklin EA, ATA, ATP firstname.lastname@example.org Franklin Accounting, Inc. (Est 1969) Conyers...
If the loans between companies are being accurately tracked and documented, I don't see that as much of a legal problem although it could be an audit nightmare. My only concern regarding adjustments is your statement that "they hoped to...
It appears from your post that the net value of the partnership is only $5000 after assuming the mortgage. However for the sake of discussion and nice equal numbers let's assume the total value of the partnership is $75,000. The exiting...
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