How much will i have to pay for taxes this year? - Page 2 - GoFuckYourself.com

Royaltee_Gee · 10-22-2001, 05:10 AM

Can we write off wire transfers we make to pay for programing. and pay for ucj and shit like that? or are credit card statements? is that enough? or we need invoices?

This is for canada. just to let yall know. but i think us and canada basically same

mailman · 10-22-2001, 05:18 AM

Gee im am not to sure but like BPO said before save ALL receips and YES cc statments will come in ahndy also and you just give them to your tax guy in seprate folders (ie. income staments, out going..hosting scripts ) and from there they will decide how much can be put forward to a tax cut

last year i got 1000 back

Royaltee_Gee · 10-22-2001, 06:42 AM

Thanks Mailman

Juge · 10-22-2001, 09:47 AM

If you're taxes are going to be over $1000, then incorporate a company for that amount, and spend ALL of your companies money on your own toys, and company toys, and then pay $0 in taxes on your net income of $0. Even if you can't spend it all, you only pay 18% (at least in canada) of taxes of what your company shows as income (a little more if you break 200k/year), but who cares.

Just compare:

Person: Gets money, pays government 26% to 46% of it, then spends the rest.

Corporation: Gets money, spends it, pays government 18% on what's left (which may be nothing).

10-22-2001, 05:10 AM	#51
Royaltee_Gee Confirmed User Join Date: Jul 2001 Posts: 973	Can we write off wire transfers we make to pay for programing. and pay for ucj and shit like that? or are credit card statements? is that enough? or we need invoices? This is for canada. just to let yall know. but i think us and canada basically same

10-22-2001, 05:18 AM	#52
mailman Confirmed User Industry Role: Join Date: Mar 2001 Location: Ontario, Canada Posts: 6,311	Gee im am not to sure but like BPO said before save ALL receips and YES cc statments will come in ahndy also and you just give them to your tax guy in seprate folders (ie. income staments, out going..hosting scripts ) and from there they will decide how much can be put forward to a tax cut last year i got 1000 back

10-22-2001, 06:42 AM	#53
Royaltee_Gee Confirmed User Join Date: Jul 2001 Posts: 973	Thanks Mailman

10-22-2001, 09:47 AM	#54
Juge Confirmed User Join Date: Feb 2001 Posts: 1,917	If you're taxes are going to be over $1000, then incorporate a company for that amount, and spend ALL of your companies money on your own toys, and company toys, and then pay $0 in taxes on your net income of $0. Even if you can't spend it all, you only pay 18% (at least in canada) of taxes of what your company shows as income (a little more if you break 200k/year), but who cares. Just compare: Person: Gets money, pays government 26% to 46% of it, then spends the rest. Corporation: Gets money, spends it, pays government 18% on what's left (which may be nothing).