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I have revenue of more than 300K in my c corp, I have less…

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I have revenue of more...
I have revenue of more than 300K in my c corp, I have less than 50K in expenses, how can i save taxes or avoid paying taxes on the remaining 250K, will buying assets reduce my revenue footprint
Submitted: 7 months ago.Category: Finance
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Answered in 1 hour by:
11/19/2017
Financial Professional: Lev, Tax Preparer replied 7 months ago
Lev
Lev, Tax Preparer
Category: Finance
Satisfied Customers: 33,113
Experience: Personal Investment, Tax Preparation
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If you purchase goods for resale - that cost will not be deducted.

But when you purchase assets for business use - such assets if placed in service for business us in 2017 may be may be deduced using section 179.

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Financial Professional: Lev, Tax Preparer replied 7 months ago

Another option to consider - if C-corporation pays wages - we may have retirement plan contribution which will be deducted as well.

Please elaborate.

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