reduce taxes through multi co's? - GoFuckYourself.com

besterman · 09-25-2003, 06:54 PM

Is this possible? You setup 10 companies that each earn just under 50k. In Nevada, that's 15%. So 500k x 15% = 75k tax vs. 1 company with 500k in earnings ~ 150k in taxes

junction · 09-25-2003, 07:18 PM

Quote:

Originally posted by scorpion3600
Is this possible? You setup 10 companies that each earn just under 50k. In Nevada, that's 15%. So 500k x 15% = 75k tax vs. 1 company with 500k in earnings ~ 150k in taxes

Better yet,

Set up a parent corp and an equity corp. Set all of your sub corps under the parent corp. Have the parent corp borrow money from the equity corp. Have the sub corps fund the parent corp. Have the parent corp repay the loans from the equity corp to further offset taxes.

EscortBiz · 09-25-2003, 07:33 PM

Quote:

Originally posted by junction

Better yet,

Set up a parent corp and an equity corp. Set all of your sub corps under the parent corp. Have the parent corp borrow money from the equity corp. Have the sub corps fund the parent corp. Have the parent corp repay the loans from the equity corp to further offset taxes.

what corp will post the bail? sounds like the parent will do it

Ludedude · 09-25-2003, 09:00 PM

Where did you read that Nevada taxes corporate earnings over 50k/annum at 15%?

There is a Federal 15% tax rate on the first $50K of income but that only applies if you have a C corp. An S corp or LLC aren't subject to that 15% at all.

As far as the other shell game goes

Excellence · 09-25-2003, 09:04 PM

If it looks like a duck and quacks like a duck...
When they write tax law, every word of it is to fuck you. Take them seriously. All they do is look at you and say "thestructure was arifically created for the sole purpose of tax evasion" and to prison you go.

You could bicker with them about it, and after your attorneys took all your money, then they put you in jail.

Don't ever try to save a penny of US tax by any exciting means. All you can legally do can be found right here: http://www.taxreductioninstitute.com/

There's another saying. There is no "easy time" when you are the one doing it.

berg.the.red · 09-25-2003, 09:09 PM

Quote:

Originally posted by Excellence
There's another saying. There is no "easy time" when you are the one doing it.

there is no easy time when Big Bubba your cell mate is giving you "that look" and winking at you when it's lights out.

09-25-2003, 06:54 PM	#1
besterman Confirmed User Join Date: Jan 2003 Posts: 623	reduce taxes through multi co's? Is this possible? You setup 10 companies that each earn just under 50k. In Nevada, that's 15%. So 500k x 15% = 75k tax vs. 1 company with 500k in earnings ~ 150k in taxes

09-25-2003, 09:00 PM	#4
Ludedude Suck it! Industry Role: Join Date: Jun 2001 Location: Who wants to know? Posts: 4,432	Where did you read that Nevada taxes corporate earnings over 50k/annum at 15%? There is a Federal 15% tax rate on the first $50K of income but that only applies if you have a C corp. An S corp or LLC aren't subject to that 15% at all. As far as the other shell game goes __________________ Last edited by Ludedude; 09-25-2003 at 09:04 PM..

09-25-2003, 09:04 PM	#5
Excellence Registered User Join Date: Jul 2003 Posts: 89	If it looks like a duck and quacks like a duck... When they write tax law, every word of it is to fuck you. Take them seriously. All they do is look at you and say "thestructure was arifically created for the sole purpose of tax evasion" and to prison you go. You could bicker with them about it, and after your attorneys took all your money, then they put you in jail. Don't ever try to save a penny of US tax by any exciting means. All you can legally do can be found right here: http://www.taxreductioninstitute.com/ There's another saying. There is no "easy time" when you are the one doing it.