Team: Incorporate or Not?

aslan

Well-Known Member
#41
Sharky said:
no ss and medicare on dividend disbursements to owners of s-corp, just federal taxes. also don't need to pay state and local taxes on this disbursement in some states. you must pay an reasonable salary which is taxed for medicare and ss.

~sharky
Right. The reasonable salary is the kicker. What is a reasonable salary? What about when the corporation is not doing well--doesn't the reasonable salary subject to employment taxes continue just the same? I don't think the IRS would think highly of a reasonable salary that fluctuates according to the amount of dividends available to shareholders, if any [dividends].

Some people like to keep books and records; perhaps to them, some corporate form would be fun and games, but for me it only represents a hassle. It also exposes the details of my personal gambling life to the government.

I'd like a penny for every winning session (not limited to blackjack) by a gambler that does not get reported to the IRS so that I could purchase a yacht and sail around the world the rest of my earthly existence. View attachment 6669
 

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assume_R

Well-Known Member
#42
As a completely off-topic aside, aslan, I'm always curious what your signature will evolve into next! It seems to be under heavy development these days lol
 

aslan

Well-Known Member
#43
assume_R said:
As a completely off-topic aside, aslan, I'm always curious what your signature will evolve into next! It seems to be under heavy development these days lol
So I'm a tweak freak! lol
 

daddybo

Well-Known Member
#44
assume_R said:
As a completely off-topic aside, aslan, I'm always curious what your signature will evolve into next! It seems to be under heavy development these days lol
Read C.S. Lewis and you will undersand Aslan.
 
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