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Updated almost 5 years ago,

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18
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1
Votes

Options for corporation profits ?

Steve Legnaioli
Posted

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

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