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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.
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.
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.
The getting OUT of debt should be everyone's priority.
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