ROBS and asset sale Hello:
Five years ago took advantage of a program to rollover 401k to a PSP/C-corp (ROBS). Sold contract assets from c-corp in June 2014. Proceeds went to c-corp. They are taxable. Would like to reduce taxes and/or defer them. Seems like my options are, one or both:
1. W2 wages to self as expense to offset taxes in c-corp; would need to pay personal taxes
2. Use proceeds to purchase another business, real estate investment or financial investment; all under c-corp;
Question: For option #2: would the "expense" of the purchase of other items offset the tax liability (ie decrease the taxable amount)? or is a purchase in this sense not an "expense" item?
thanks |