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January 30, 2007


Bonnie Erickson

Interesting twist on the same problem, Norm. Since I don't deal in businesses, I never thought about that. I am very aware of rental income that gets reported and doesn't actually exist though. But that's for another blog post!

Norm Fisher

Interesting post Bonnie. I've heard this is also fairly common with small businesses which commonly deal in cash. The owner pockets large sums of undeclared income and then wonders why they can't sell it for big bucks when the P&L shows no P. Pay now or pay later.

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