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Subject:  Buying small business in tax trouble. Date:  1/11/2000  7:31 PM
Author:  ffortesque Number:  24843 of 130727

Hello all,

I am trying to Foolishly buy a small business in California but I have a problem. The person I am buying it from hasn't paid his taxes on the business for almost three years. My two questions are as follows: Will I inherit his tax problems if I buy the business? And, can I write off the loan payments on my taxes? Any help would be greatly appreciated as I am just a new Fool in the world!


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