(i'm pretty sure australian and US laws are different so this is to the aussies) How do handle tax/business structure? I was interested in forming a company to run my web operations under and a couple investments so i woulden't have to take the 48% tax rate. This week i was told by my accountant that since i was the 'item' generating the income it should be paid to me(aka personal tax rate) and that some authority could be on my back if i retain money in a company like that.(that wasn't his exact explanation but this accountant is very good)
How do you guys handle this? there MUST be a legal(i'm only interested in a legal way) way to do this, 50% tax(over 50 or 60k) seems so stupid..
any thoughts/discussions welcome
