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Old 12-05-2005, 05:23 PM
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Default Re: Tax Q -- Taking A Shot To Offset Wins

Terrible idea. Do not put money in things solely as a tax write off. Do it because it will win money.

On a side note... Could you keepmoney in your roll as a form of assets ofr your home business and not tax winnings or losses on it till you take it out?

Say you start with 2k... Grow your roll to 20k and withdraw 40k over a year... Pay taxes on 40k?

Or the next year you run bad and withdraw 30k but your roll shrinks to 15k. Taxable income at 15k?
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