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Political Discussion
Reply to "Taxes - where should top tax rate be set and at what %?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It's very easy to pay no taxes if you don't get a W-2. You set everything up as a business, run all passive income (dividends, cap gains, rental income, etc) through the business and charge all your expenses to the business and zero everything out. That's the goal of every CPA.[/quote] As a business owner I can assure you that what you wrote is BS.[/quote] I also own a business, and you can only deduct business expenses. What about rent, food, clothing, the repairman for your A/C, a movie ticket, dinner out with friends, gas, vacations, etc.? (You can deduct housing expenses proportionate to the space allocated for your business, if applicable.) If a CPA is advising what you suggest,[b] it's tax fraud.[/b][/quote] And will quickly elevate you on the IRS list for an audit.[/quote] Only if you're a Republican.[/quote]
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