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The Truth About Trade
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Quote:I think you have that backwards. What's reported to the IRS is usually less due to tax breaks like MACRS and Sec 179 depreciation. Yes, you are correct. Thank you for catching that! The annual reports show higher profits while irs returns are usually significantly lower. Besides what you mentioned, there are nol deductions, loss on capital gains can offset income of subsequent gains, even charitable contributions can reduce a company's taxable income. |
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The Jungle is self-supported by showing advertisements via Google Adsense.
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