You, as a company, would pay no tax. You, as an employee of your company, pay the regular amount of tax you always pay. There's some loopholes where you as a company can provide yourself as an employee with non-taxable benefits but it seems like more hassle than it's worth. I have family that have done this and they save very little on taxes but have to file huge complicated returns.
8 Comments
jetsetdorito@lemmy.world · 16 pts · 3y
If you feel so bold, write in a negative number
vacuumflower@lemmy.sdf.org · 7 pts · 3y
... Followed by 6 zeroes too.
0uterzenith@lemmy.world · 13 pts · 3y
or
'); DROP TABLE Income;--(i don't actually know how to write that)
vacuumflower@lemmy.sdf.org · 8 pts · 3y
Seems correct.
0uterzenith@lemmy.world · 8 pts · 3y
I just copied that one xkcd comic
TeaHands@lemmy.world · 7 pts · 3y
90% of programming is just copy/pasting other people's code so...congrats on your new career I guess. You're a natural.
Pyr_Pressure@lemmy.ca · 15 pts · 3y
Why are people taxed on revenue but companies are taxed on profit?
I often have 0 profit, if I call myself a company would I pay no taxes?
ImplyingImplications@lemmy.ca · 2 pts · 3y
You, as a company, would pay no tax. You, as an employee of your company, pay the regular amount of tax you always pay. There's some loopholes where you as a company can provide yourself as an employee with non-taxable benefits but it seems like more hassle than it's worth. I have family that have done this and they save very little on taxes but have to file huge complicated returns.