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Article Date: May 2010
Word Count: 526

Tax Savings Trap Crushes S Corporation Owner’s Expenses

Ronnie Craft owned 50 percent of an S corporation. Both he and the other owner took salaries of $50,000 a year from the S corporation.

 

The corporation adopted a resolution requiring Mr. Craft to pay for and supply his own office space and vehicles for use on behalf of the S corporation’s business. In ... Log in to view full article.

 

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