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Updated almost 5 years ago on . Most recent reply
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Options for corporation profits ?
If I start a corporation to collect rental income and there is 10,000 left after all expenses (profits) at year end , how is that taxed?
On my personal taxes?
Is it taxed separately before I take it?
Is it part of my MAGI I report to the IRS?
Can the corporation just retain the profits and pay taxes on it to keep it off my MAGI?
Thanks