I know this is a bit counter-intuitive due to the fact logic says you should attempt to lower the numbers you report to the IRS. However, lets say your small business made $2,000 in profits as your side business on $15,000 in revenue ($15,000 - $13,000 cost of goods). What would happen if you, for example, say your business made $1,500,000 in revenues, and with $1,498,000 cost of goods?
Its still the same profit, and you're not evading your taxes in any way. Just simply grossly overstating them to make your business seem larger than it really is.
I would like to hear some comments on this, and please, no rude remarks.
2007-04-24
16:35:29
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6 answers
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asked by
Anonymous