Thread: How do you NOT get fucked in the ass by taxes? (Those making >$500,000 a year)
View Single Post
Old 01-28-2008, 05:56 PM  
WiredGuy
Pounding Googlebot
 
Industry Role:
Join Date: Aug 2002
Location: Canada
Posts: 34,504
Quote:
Originally Posted by Myst View Post
if I didnt have a corporation, and paid income tax on that $500k, Id pay only $182,565 in income tax.
If you took the 500k in one shot your tax bracket would be in the 40%+ which would be closer to 225k.
WG
__________________
I play with Google.
WiredGuy is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote