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Question about NC Corporate tax rates – I think my parents are hurting themselves with their business expenses.
Question about NC Corporate tax rates - I think my parents are hurting themselves with their business expenses. My dad owns a small business in NC. It’s incorporated, so to my understanding, his business tax rates on income (revenue - expenses) are roughly 2.5%. My parents, who are getting older, just bought a new company vehicle that they totally do not need. They claim that by spending/expensing $80,000 on a vehicle, it reduces their tax burden and sav...
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