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Coffee Shop
Question for tax gurus
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<blockquote data-quote="boondocks" data-source="post: 1148869" data-attributes="member: 20599"><p>Jo, I'm following you. I haven't studied it in awhile, but you may want to take a look at this: <a href="http://www.law.cornell.edu/cfr/text/26/1.6664-4" target="_blank">http://www.law.cornell.edu/cfr/text/26/1.6664-4</a></p><p>Personally, I would run it past a tax professional and see if it meets the good faith test (or whatever the current buzzword is). You don't want to be too far out on the leading edge of tax law. Likewise, I would be willing to guess that in these days of automation and algorithms, a substantial drop in taxes paid from one year to the next (without a correlating drop in income) might be a computerized automatic red flag and wake up the fine folks with the sharp pencils and calculators. (Not nerds, auditors. Oh wait...).</p></blockquote><p></p>
[QUOTE="boondocks, post: 1148869, member: 20599"] Jo, I'm following you. I haven't studied it in awhile, but you may want to take a look at this: [url=http://www.law.cornell.edu/cfr/text/26/1.6664-4]http://www.law.cornell.edu/cfr/text/26/1.6664-4[/url] Personally, I would run it past a tax professional and see if it meets the good faith test (or whatever the current buzzword is). You don't want to be too far out on the leading edge of tax law. Likewise, I would be willing to guess that in these days of automation and algorithms, a substantial drop in taxes paid from one year to the next (without a correlating drop in income) might be a computerized automatic red flag and wake up the fine folks with the sharp pencils and calculators. (Not nerds, auditors. Oh wait...). [/QUOTE]
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