american tax system

[dan_ebay]

Originally Posted by Sunspot144

paid yourself $4000 every month to be a groundskeeper

Does that actually work if the IRS come and audit you? Lol doubt it to be honest.

[Play]

Originally Posted by JamesNorth101

That makes for a really interesting read. Ta!

The one good tax legislation we have here in the UK is that we can keep all the money a company earns in the conspires bank account and then withdraw it all at once at 10%. It’s a single withdraw allowed though so you have to make sure that you get it all out at once. You can do that though and then start a new company, rinse and repeat every few years

Whilst neat, isn't there a clause that states if you're doing something like this, i.e. incorporating companies in the same business category and exiting in this manner, it could be deemed as tax evasion.

I'm sure i've read that somewhere, though I may be mistaken.

[JamesNorth101]

Yep. Doesnt stop a lot of people though

Some companies change what they do as they grow as well so they can start up as a new company and be doing something totally different to when they started

[phaz0rz]

Originally Posted by dan_ebay

Does that actually work if the IRS come and audit you? Lol doubt it to be honest.

It was probably be acceptable in USA. The "proper" way to do things is to setup your company and draw a paycheck from it, which is pretty close to what sunspot was saying I think..

[Sunspot144]

Originally Posted by phaz0rz

It was probably be acceptable in USA. The "proper" way to do things is to setup your company and draw a paycheck from it, which is pretty close to what sunspot was saying I think..

Yea, nah. All of it works in theory but read up on it last night......

If you wanted to split company revenue and personal income and tax separately you'd have to pay 21%+ Corp tax rate on the company. Terrible idea.

Could add to your job description something like 'lives on premises to maintain company property' tho. Might not have to pay rent then.

Think LLC S Corp with salary + dividends is the way to go. You pay flat % personal tax rate on dividends which is still cheaper than staggered % on personal tax.

[vl.b5014]

that's interesting

Originally Posted by H4ck

I was thinking of doing something big through my bank.....but I realized they report 1099-ks to the IRS.....and roughly charge 40 percent in taxes on income if I report.................

the irs can go fu.ck themselves.

I mean seriously where does my money go to? oh thats right.......some group of tall white guys........that run all these federal government offices and schools........and they pick and choose who to give jobs to............and they love to give jobs to their white friends and family...while shunning the immigrant popuation......unless the immigrants need a job like cleaning their wives nails or mowing their lawns.....so they can live in the wealthy side of the neighborhood while bullying people in our society through their tax system to get their nice fat paychecks.......

[ebaystealth1974]

I had a suspicion that he wasn't white. Guess that confirms it lol

[someonenew2u]

homeboy sounds like f.e..d honeypot fishing.

[rsot]

Originally Posted by ebaystealth1974

I had a suspicion that he wasn't white. Guess that confirms it lol

Terrible assumption

[ebaystealth1974]

What??????

[walkingupwards]

It's funny how the US is called the capital of world capitalism when it has a Marxist tax scheme. Even China and Russia don't have estate taxes anymore!!