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re: CPA: winery question
Posted on 3/21/13 at 6:17 pm to tigeralum06
Posted on 3/21/13 at 6:17 pm to tigeralum06
quote:
And capital gains is a tax treatment so gaap accounting is irrelevant in this scenario
pardon, I just said GAAP with the assumption that it covered all aspects of legal taxation. Chalk it up to my naivety.
The secondary holding company wouldn't be legit then?
This post was edited on 3/21/13 at 6:18 pm
1
Posted on 3/21/13 at 9:43 pm to Iona Fan Man
No it wouldn't, there's no legimate business purpose for the holding company you describe.
Btw GAAP accounting is not the same as tax accounting. Each is a different basis of accounting.
Btw GAAP accounting is not the same as tax accounting. Each is a different basis of accounting.
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