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If a business receives insurance proceeds, that does not need to be claimed as income, but how do you handle the expenses of rebuilding? For example, a small bu...
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He didn't pay himself at all from the corporation
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He did not have payroll, thank goodness. He should not have even formed a C Corp in the first place.
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Understood, thank you. Yes, it was filed through the state authority. The status with the state reads "Conversion"I may have worded that incorrectly. Thank you!