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It would like an Oriental Rug dealer in my area, who constantly has a going out of business sale, only to open with a new name next year.
by coldcode 13y ago
It would like an Oriental Rug dealer in my area, who constantly has a going out of business sale, only to open with a new name next year.
- cesarbs 13y agoSeattle? :)
- lcampbell 13y agoThat sounds more like tax evasion, using business bad debts[1]: the rug store is owned by a parent corporation from whom the property is leased (and/or which provides other goods/services, like the rugs themselves). A rate is charged in excess of the store's profit such that the store is in debt to the parent corp when the store goes out of business. The parent corporation makes off with the profits, offset by the tax break from dissolving the partner's debts. Then again, I have no idea how taxes work and can't help but view everything pessimistically :( -- [1] http://www.irs.gov/publications/p535/ch10.html http://www.irs.gov/publications/p535/ch10.html