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Hi gang,

I'm looking at buying a business and have a question about corp structure.

The business is currently s-corp
sales of 2.8M, NP 120K

a friend owns a similar operation and is set up as c-corp status.

He claims lower taxes with a C vs S election.

I don't know enough to sort this one out.

oh, and something else.

If I buy and set up as S corp, are my payments to the bank and/or owner holding paper deductible?

Thanks !
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