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Extract Tax Free Cash From Your Corporation
To the extent that you have loaned money to the corporation, the funds can be repaid to you at any time without tax consequences.
Loaning can take any form and includes a reasonable amount for personally owned assets transferred and used in the business.
Caution is warranted as you cannot extract more out than you have already put in without triggering income tax consequences. Careful planning with a Chartered Accountant is warranted. Contact Keith Anderson CA at (780) 447-5830 if you need advice.
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