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  • Feb 23, 2007, 08:46 AM
    Drusser
    Income Taxes Paid
    If an individual owns and operates several corporations and that income flows over into his personal financials, does the proerty taxes for his personal residence appear on his own Proft & Loss statement?
  • Feb 25, 2007, 09:57 PM
    AtlantaTaxExpert
    Not under Generally Accepted Accounting Principles.

    Corporations are considered totally separate entities for both legal and tax purpsoes. There should be NO mixing of assets.

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