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Old 12-03-2013, 07:17 AM
 
9,470 posts, read 6,980,594 times
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Quote:
Originally Posted by EmeraldCityWanderer View Post
Reality changes on the whims of winguts.
That's why yours is so variable.
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Old 12-03-2013, 07:18 AM
 
9,470 posts, read 6,980,594 times
Reputation: 2178
Quote:
Originally Posted by HappyTexan View Post
Why ?

I know one person who is does something like this.
Every receipt is saved and some story attached to connect it to a business write-off.
I could not live that way.
They are one IRS audit away from jail or heavy fines.

The big boys can get away with this.
But the IRS leaves them alone and goes after everyone else trying to do that.
Sigh.

You really should meet a good tax accountant.
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Old 12-03-2013, 07:22 AM
 
Location: Great State of Texas
86,052 posts, read 84,595,619 times
Reputation: 27720
Quote:
Originally Posted by pnwmdk View Post
Sigh.

You really should meet a good tax accountant.
Why ? I don't live that way.
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Old 12-03-2013, 07:33 AM
 
9,470 posts, read 6,980,594 times
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Quote:
Originally Posted by HappyTexan View Post
Why ? I don't live that way.
No, but you could be told the realities of all this and not assume a lot of stuff that isn't true.

No, you can't have your corporation pay for a lot of things, but there's major expenses in your life that CAN be paid via pre-tax dollars. And you can split your income between the corporation and you to minimize tax liabilities dramatically, ESPECIALLY if you're middle class.

But, you need to not be in debt. Not trying to "build credit", or other such things.
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Old 12-03-2013, 07:55 AM
 
Location: Great State of Texas
86,052 posts, read 84,595,619 times
Reputation: 27720
Quote:
Originally Posted by pnwmdk View Post
No, but you could be told the realities of all this and not assume a lot of stuff that isn't true.

No, you can't have your corporation pay for a lot of things, but there's major expenses in your life that CAN be paid via pre-tax dollars. And you can split your income between the corporation and you to minimize tax liabilities dramatically, ESPECIALLY if you're middle class.

But, you need to not be in debt. Not trying to "build credit", or other such things.


There's few today that can make this claim.
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Old 12-03-2013, 08:21 AM
 
9,470 posts, read 6,980,594 times
Reputation: 2178
Quote:
Originally Posted by HappyTexan View Post
There's few today that can make this claim.
The getting OUT of debt should be everyone's priority.
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