How Taxes on Businesses Work...

[Zetsu]

or deal in cash

Lol that's even better   :001_tongue:

But the high tax kinda defeats the point of running a business...  plus like Gordy said you can't deduct taxes by simply buying machinery or other assets, it's just not considered as an expense.  If you really want to evade taxes, people usually ask their accountant to make 2 balance sheet.

What accountant would take that risk?

I think most wouldn't want to risk it, but if you pay her well enough and buy her enough presents it might not be impossible, lol

[Anonymous]

or deal in cash

Lol that's even better   :001_tongue:

But the high tax kinda defeats the point of running a business...  plus like Gordy said you can't deduct taxes by simply buying machinery or other assets, it's just not considered as an expense.  If you really want to evade taxes, people usually ask their accountant to make 2 balance sheet.

What accountant would take that risk?

I think most wouldn't want to risk it, but if you pay her well enough and buy her enough LV bags it might not be impossible, lol

I am sure there are a few unethical accountants if someone wanted to find them.

[Zetsu]

or deal in cash

Lol that's even better   :001_tongue:

But the high tax kinda defeats the point of running a business...  plus like Gordy said you can't deduct taxes by simply buying machinery or other assets, it's just not considered as an expense.  If you really want to evade taxes, people usually ask their accountant to make 2 balance sheet.

What accountant would take that risk?

I think most wouldn't want to risk it, but if you pay her well enough and buy her enough LV bags it might not be impossible, lol

I am sure there are a few unethical accountants if someone wanted to find them.

To be fair I wouldn't blame the accountant, but the employer should be responsible, lol.  But then a lot of things are not as simple as it is or looks in the business world, even being the best of the best is not enough to survive.

[Anonymous]

But the high tax kinda defeats the point of running a business...  plus like Gordy said you can't deduct taxes by simply buying machinery or other assets, it's just not considered as an expense.  If you really want to evade taxes, people usually ask their accountant to make 2 balance sheet.

Mel posts while he is hammered.

[Zetsu]

But the high tax kinda defeats the point of running a business...  plus like Gordy said you can't deduct taxes by simply buying machinery or other assets, it's just not considered as an expense.  If you really want to evade taxes, people usually ask their accountant to make 2 balance sheet.

Mel posts while he is hammered.

I wouldn't be one bit surprised if the guy is drunk again, his lifestyle already seems disoriented enough after he had a divorce with his wife.

[Anonymous]

But the high tax kinda defeats the point of running a business...  plus like Gordy said you can't deduct taxes by simply buying machinery or other assets, it's just not considered as an expense.  If you really want to evade taxes, people usually ask their accountant to make 2 balance sheet.

Mel posts while he is hammered.

I wouldn't be one bit surprised if the guy is drunk again, his lifestyle already seems disoriented enough after he had a divorce with his wife.

If he is on here posting, Mel is drunk.

[GORDY GAMBINO]

But the high tax kinda defeats the point of running a business...  plus like Gordy said you can't deduct taxes by simply buying machinery or other assets, it's just not considered as an expense.  If you really want to evade taxes, people usually ask their accountant to make 2 balance sheet.

Mel posts while he is hammered.

I wouldn't be one bit surprised if the guy is drunk again, his lifestyle already seems disoriented enough after he had a divorce with his wife.

If he is on here posting, Mel is drunk.

why dontcha go fuck him then ya fucken gaye gook

[Angry White Male]

But the high tax kinda defeats the point of running a business...  plus like Gordy said you can't deduct taxes by simply buying machinery or other assets, it's just not considered as an expense.  If you really want to evade taxes, people usually ask their accountant to make 2 balance sheet.

What I was getting at, was that if I spent my own cash on equipment, which I did, is that I pay back that loan to myself first, which isn't taxed at all.



This is what I'm doing now.



And Gordy is also correct, that the equipment depreciates.



To clarify, the business did not buy the equipment, I did.  And therefor nothing is taxed until I pay myself back in full.

[Angry White Male]

And to go even further, I am required to have Workers Comp coverage, of course.



Again, I pay nothing for this coverage, as I am not earning anything until my own personal loan gets paid back in full.



In fact, I don't even pay MSP premiums, as I have no income at all.



What I was getting at, in relation to the CBC article, is that I'm one of those people that may look like the business is pulling in cash, and paying no tax at all, but there is a reason why this can happen, as I've just explained.

[GORDY GAMBINO]

You are the most ill informed fuck wit to discuss business here since franchise boi the train derailer Ace.



When you go insolvent the truck will be sold by the sheriff.



You are better off having a company set up just to own the equipment and one which will go bust for ya trading.



But lets wait for it 1 year time I lost my wif, my truck , my cat and now I'm gonna shot meself in the head.



And a chump like you never got to power drive Berry in the ass...she was fucken begging for it but ya fucked that up as well



You get to live the rest of ya life like a schmuck

[Angry White Male]

Business is doing well this year.



Now, I can only speak from my experiences, and that of the accountant I paid $1200 to.  That, and also being audited and cleared by Revenue Canada...



However, I guess I just don't know what going on.

[Angry White Male]

It's always interesting when you simply want to share factual knowledge, without actually asking any questions, and having individuals want to "set you right," since they all seem to know more...

[Zetsu]

But the high tax kinda defeats the point of running a business...  plus like Gordy said you can't deduct taxes by simply buying machinery or other assets, it's just not considered as an expense.  If you really want to evade taxes, people usually ask their accountant to make 2 balance sheet.

What I was getting at, was that if I spent my own cash on equipment, which I did, is that I pay back that loan to myself first, which isn't taxed at all.



This is what I'm doing now.



And Gordy is also correct, that the equipment depreciates.



To clarify, the business did not buy the equipment, I did.  And therefor nothing is taxed until I pay myself back in full.

I could be mistaken but I dun think that's how it works Mel, the thing is you still have the money but just happened to convert it into capital assets that can always be liquidated back into cash, at least this is how it is in accounting 101.

[Anonymous]

It's always interesting when you simply want to share factual knowledge, without actually asking any questions, and having individuals want to "set you right," since they all seem to know more...

That's how discussion forums work Mel..



You post something, and it is challenged.

[GORDY GAMBINO]

It's always interesting when you simply want to share factual knowledge, without actually asking any questions, and having individuals want to "set you right," since they all seem to know more...

I do know more I been in business since 1985, Ive had more wivs and fucked more skanks.