FundRobot » Growth Fund » Is a company considered it's own individual?

Reply
Old   #1 (permalink)
 
Posts: 2,553
Default is a company considered it's own individual

Basically I want to start my own company. All the income will be under the company's name. Even though it's my own company, I want to set myself as an employee making an hourly minimum wage. This way would I pay two different sets of taxes? My company will pay the big taxes, but me, a minimum wage worker, will have a small income on paper. Is any of this possible?

GoldAddicted is offline   Reply With Quote
Old   #2 (permalink)
 
Posts: 2,565
Default is a company considered it's own individual

Depends where you live. Good for you though, willing to only be paid the same as everyone else.
Stocks4Me is offline   Reply With Quote
more..
Old   #3 (permalink)
 
Posts: 2,604
Default is a company considered it's own individual

Yes.

You could start a C-corporation.

The corporation would be a separate entity and would pay its own taxes.

Sit down with an accountant before you do anything, however.
TheGreat33 is offline   Reply With Quote
Old   #4 (permalink)
 
Posts: 2,565
Default is a company considered it's own individual

Yes, but you should talk to a good CPA. You may want to consider an S-Corp rather than a C-Corp. Taxes drain your investible funds and limit your growth.

You always want to pay the minimum amount of taxes.
Stocks4Me is offline   Reply With Quote
Reply

Bookmarks

Thread Tools



Premium Numbers - Premium Domains - Find Arena - Cash - Coding Core - Bills - Find Arena - Bagoly - Wrestling -