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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (607029)	4/7/2011 3:56:55 PM
From: i-node	Read Replies (1) \| Respond to of 1580037

>> I suggest you Google "corporate tax deductions"! Once you've taken all THOSE, you DON'T have any net income, but you've paid yourself nicely! So, you would deny corporations the deduction for its ordinary and necessary business expenses, which every one of those "deductions" is? Economically, you cannot have capital formation if you apply the corporate tax rates to gross income rather than net, which is what you seem to be suggesting. Obviously, you cannot mean that, which suggests that you, like Shep, are simply talking out your ass on a subject you have no knowledge about, whatsoever. I've asked Shep to name some of the "loopholes" you are complaining about. He has failed to do so. Can you?

To: bentway who wrote (607029)	4/7/2011 4:00:32 PM
From: Bill	1 Recommendation Read Replies (1) \| Respond to of 1580037

If you own a corporation, you cannot legally take money out of it without tax consequences. If it's a C corp, you'll owe the Feds two tax returns - one for the corp, and one for yourself.

To: bentway who wrote (607029)	4/7/2011 4:05:39 PM
From: longnshort	Respond to of 1580037

"but you've paid yourself nicely!" which you have to pay taxes on

To: bentway who wrote (607029)	4/7/2011 4:30:25 PM
From: Tenchusatsu	1 Recommendation Read Replies (1) \| Respond to of 1580037

Bentway, > I suggest you Google "corporate tax deductions"! Once you've taken all THOSE, you DON'T have any net income, but you've paid yourself nicely! I know the concept, Chris, but I'm not impressed by "self-employed" deadbeats who incorporate just to declare their living expenses as "corporate tax deductions." I would be impressed if your little "Be your own boss" venture actually brought in significant revenue (before taxes and expenses), but it doesn't sound like you have any to speak of. Like I said, if the only reason you incorporated is to dodge taxes on whatever break-even income you're making, then perhaps you are the real fool here. Or a proud underachiever. Tenchusatsu