Posted by Dave T on July 19, 2004 at 20:51:50:
Isn’t the question moot? Isn’t a C-corporation, by default, an active income activity? A C-corp has its own corporate tax rates irrespective of any “dealer” activity.
‘DEALER STATUS’ and TAX RATES - Posted by JohnSmith
Posted by JohnSmith on July 15, 2004 at 15:21:50:
If my corporation is pegged a dealer in real estate what would the tax rate be on profits made from the sale of real estate if I net $50,000.
Is it 15% or is it taxed at my individual rate?
Re: ‘DEALER STATUS’ and TAX RATES - Posted by John K Haslach, CPA, MST
Posted by John K Haslach, CPA, MST on July 16, 2004 at 04:20:40:
It would be taxed at your individual rate if not doe through a corporation. It would also be subject to the self-employment tax.
Re: ‘DEALER STATUS’ and TAX RATES - Posted by John K Haslach, CPA, MST
Posted by John K Haslach, CPA, MST on July 20, 2004 at 03:19:49:
I’m sorry. I wasn’t clear. If done through an S Corporation, it would be taxed at individual rates, but there would not be any SE Tax. If done through a C Corp, the gain would be taxed at the corporate tax rate. If done through an S Corp, there is always the issue of taking salary.