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Old 01-12-2004, 09:10 PM  
- AFN -
Confirmed User
 
Join Date: Jun 2003
Location: NYC Baaaabeee
Posts: 3,101
Tax Deductions Question

ok here is my question a friend of mine in the biz asked me. I was going to call my accountant and ask him the question but his office is closed and I really want to know myself as well.

what if your deducations are actually more than the 30% required to pay in taxes in the total amount of income your business generated throughout the year?. does he re-funded the difference? or what is it just lost income?
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