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Tag Archives: s corporation

My Company Has Lost Money For the Past 6 Years. What Will The IRS Think? – Wahi

justball-144x125

“Dear Jim, I’ve a fulltime job as an IT consultant. I also have a food distribution business as well. Your Question * My company has lost every year for the past 6 years, and this year too, I’m in a loss. Since it’s an ‘S’ corp, I’ve been posting the loss on my personal, which help me at least get ... Read More »

The Business Failed and Five Years Later I’m Getting a Collection Call. – Davedo

justball-144x125

“Dear Steve, My parents started a business in 1998 in PA. I worked for the S- corp for 12 years as president. The firm went of business due to failures over time in managing revenue and costs….I could blame the economy but that’s a cop out. I used easy credit through credit cards to pay bills of mine and occasionally ... Read More »

I Own an S Corporation and my Home is Now in Foreclosure. – Dave

justball-144x125

“Dear Steve, I own a small business which is an S Corp. Business was bad for awhile, during which time I got behind on the mortgage on my personal home. The home is now in foreclosure. Currently, I a considering an offer of a short sale, and I ade the decision to save the business, which has started to pick ... Read More »

We Were Forced to Close Our S Corp Business. – Jean

justball-144x125

Jean “Dear Steve, Greetings,and thank you for your time and efforts…My husband and my self were forced to close our business of twelve years,OCT 2008 we are sole owners and a S Corp. Two years previous we noticed a significant decline in the economic spending habits, this decline forced us to use all our equity line of credit in our ... Read More »

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