I’m not talking about a side business you’re trying to get off the ground or a startup you’re building. Do you have a business, a legitimate registered LLC, C-Corp, S-Corp, etc that you use mainly for tax benefits? If you use it for other benefits, comment below!
https://www.listenmoneymatters.com/llc-vs-scorp/ they talk about the benefits of having an LLC or S-corp.
Do you mind sharing some details. Been meaning to set one up. What do you show for the Corp? Does it work out? How much effort and how big are savings?
Thanks for the reply!
If you are just opening up a company to show expenses and thereby save on taxes on ur W-2 income, doesn’t the IRS find out and audit your ass?
You can only lose money for x number of years before the irs deems your business a hobby. That kind of business has to be profitable
One advantage of a Delaware LLC is the almost complete anonymity if you do it right.
How?
Personal Finance
Yesterday
1503
Thank you AAPL and NVDA
World Conflicts
Yesterday
604
Is "From the River to the Sea" So Wrong?
World Conflicts
Yesterday
698
Israeli precision-guided munition likely killed group of children playing foosball in Gaza, weapons experts say
Personal Finance
Yesterday
530
Biden wants to raise capital gains tax to 40%
World Conflicts
Yesterday
527
Why I Find Free Palestine Inspiring
Most people here are w2 I imagine
That’s not the point. You can have a LLC that makes a few bucks a month to deduct some expenses.