Corporation incurred substantial losses

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A C corporation has incurred substantial losses and the owners have decided to close the business. What considerations should the owners make in this termination? Should they consider making an S election and then later, terminating the S corporation? If you were their tax advisor, what would you recommend?

Reference no: EM13916373

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Corporation incurred substantial losses : A C corporation has incurred substantial losses and the owners have decided to close the business. What considerations should the owners make in this termination?
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