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Originally Posted by Trivers
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Good read, thanks.
So tomorrow I douche my banker with loan applications huh?
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Originally Posted by O.city
That’s how I understand it. We incorporated the business after we purchased but it’s still the same entity it was before
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Nah, once you create a corporation it is legally separate from management and shareholders, which is the point.
But you might be able to convince somebody to use the historical information because you didn't change procedures or personnel. Definitely try it. Hopefully they'll apply some common sense here, but it looks like there are ways to bone you on account of shitty timing. Hopefully they work with some common sense.
Whatever happens with the payroll, you should (according to my very limited understanding) be eligible for overhead relief.