Taxpayer is considering whether to invest in business

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Reference no: EM133654647

Question

A taxpayer is considering whether to invest in a business. The taxpayer is a marketing executive and works a 40 hour per week job with a large salary. Someone told him he needs to invest in a business that generates losses to offset his salary and save on taxes. What concept would you consider before you advise this client to invest or not to invest? A taxpayer is considering whether to invest in a business. The taxpayer is a marketing executive and works a 40 hour per week job with a large salary. Someone told him he needs to invest in a business that generates losses to offset his salary and save on taxes. What concept would you consider before you advise this client to invest or not to invest? Wherewithal to pay concept Business purpose concept Substance over form Capital recovery concept.

Reference no: EM133654647

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