Quote:
Originally Posted by Rain Man
Yeah, it just hits the balance sheet, but (at least in my case) the money I take out is money that I paid taxes on earlier as a Schedule K passthrough to my personal taxes. I'm just taking money out that I've already paid (income) taxes on.
Of course, now the rules have changed, so I think passthrough income is taxed at a lower rate, so that's an advantage. (Yay, Trump!)
|
Oh hell. I see what you’re saying. Sorry for the confusion. You’re right. It’s not deductible, so that way income passes through.