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BHJSR, LLC

BHJSR, LLC. Financial Statement. General Overview with Gross Capital Gains Tax. Overview with Adjusted Capital Gains Tax. Gross < Adjusted : $163,000.00 < $196,333.00 +$33,333.00/distribution +$99,999.00. Notes. $276,000 in interest bearing account until taxes are paid

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BHJSR, LLC

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  1. BHJSR, LLC Financial Statement

  2. General Overview with Gross Capital Gains Tax

  3. Overview with Adjusted Capital Gains Tax Gross < Adjusted: $163,000.00 < $196,333.00 +$33,333.00/distribution +$99,999.00

  4. Notes • $276,000 in interest bearing account until taxes are paid • $435,000 will be made as a loan to the corporation • Corporation will be dissolved after • All monies owed to Bruce, Sr.; plus $435,000 • Business loss, long term capital loss • Net loss of $3,000/year • $1.2M capital gains – 100% of lost bad debt (estimated $24,000 + $435,000 + loss of stock) ($24k may be even at 0 going into this year) • Lowered capital gains payment to $176,000

  5. Notes (Con’t.) • Call David about transferring money between family members since it’s all in Bruce, Sr.’s name • Paul can dissolve the corporation • All needs to be done before the calendar year and completed • Before Sep. 30th would help with accounting • Estate attorney to transfer $ • Personal tax filing for Bruce, Sr. with Paul

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