tax question: switching over from hobby to business?
On Wed, 27 Aug 2008 20:01:34 -0500, Ignoramus17245
wrote:
snip
And if the business owner mixes private and corporate business, then
his corporate veil may be pierced and personal assets taken anyway.
snip
==
A partial solution here can be to set up some sort of straw
man/cut-out company or corporation that actually sells the
goods/services after "buying" these for cash. Make sure that
this is like a floating crap game or incorporated in Panama. The
most that the sharpies can get that way is the busted stapler.
Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?
Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).
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