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| *Loan,banking and credit>>>tax advice |
Tax Advice, on a compete loss on a large investment? |
If you invest 35K in a business, the business goes under and you take a total loss, when you claim it on your taxes, about how much of it will you get back? That depends upon your tax bracket. Anything from 0% to 35%. You're limited to $3,000 in net capital losses against other income in any one year. You'll have to carry the balance over to future years. If you're in a 15% bracket, the benefit for this year will be $450. Check with your tax attorney. He'll have the legal know how. He'll also help you from having an IRS audit. Yes, you'll have to shell out a couple of bucks, in the long run it'll be worth it. you have more or less answered your own question,, if you are in the 15% tax bracket, what is .15X35000?? or 15% of 35000 |
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