GoFuckYourself.com - Adult Webmaster Forum - View Single Post - How do you NOT get fucked in the ass by taxes? (Those making >$500,000 a year)

WiredGuy · 01-28-2008, 05:53 PM

The idea behind having a corporation is to shelter everything under it and you basically just take out cash for things you need to buy. The car you buy, company car. The house you live in, you own it and rent it to the company, etc. You will save money in the long run once you shelter everything you would normally do under your personal name within the corporation. That's when the expenses really mount up and then that lowers your overall profit.

In the end of the day, if you keep taking money out of the corp into your own pockets, your in no different position than before. The key to the corporation is to expense everything and anything possible.

WG

01-28-2008, 05:53 PM
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,504	The idea behind having a corporation is to shelter everything under it and you basically just take out cash for things you need to buy. The car you buy, company car. The house you live in, you own it and rent it to the company, etc. You will save money in the long run once you shelter everything you would normally do under your personal name within the corporation. That's when the expenses really mount up and then that lowers your overall profit. In the end of the day, if you keep taking money out of the corp into your own pockets, your in no different position than before. The key to the corporation is to expense everything and anything possible. WG __________________ I play with Google.