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March 18, 2019
Hi Mike, Profit First question for you: if the tax account is used to pay both the corporate taxes and the owner’s personal income tax, then how is that accounted for? Is it legal to count the payment of the officers’ income tax as a business expense? (I’m organized as a C-corp and am the only employee). And, if the business can pay the officers’ income tax, then what about other personal taxes like property tax?
thanks