Quote:
Originally posted by papichulo
Yep. I guess the guy meant "investment or business losses" -- I've already been told that one way to UNTAX 300K legally is to buy a company with LOSS CREDITS exceeding your tax liability. The problem with this is there's some sort of deadline/timing issue.
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well you could do that, you can normally buy tax losses cheap but its a strategy you can only do once really and it is challengeable by the irs, you would generally only be able to buy a tax loss of a business that is *similar* to yours, like in the same sector or related, it has to make sense and be reasonable