Forgot your password?
Type your email address below and click the sign up button to create an account.
There are any number of reasons to incorporate - and the tax codes are very complicated and allow a great number of ways to slice and dice income, expenses, and all kinds of benefits being incorporated. All are legal - a person or persons should take advantage of them.
The separate company must then declare the rental income as revenue and pay tax on it.
Cars, airplanes, buildings, etc. used for personal use must be declared as income. If they don't then they are committing tax fraud. You can go to prison for this and the person that rats them out would be eligible for a reward :)
GREAT POST !!!!!!!!!!!! Your post is worth a million.
I agree with you there (expect for the revolt part). It is not wrong to start a business, but it is wrong when that business( along with unions) controls the government. President Eisenhower’s Farewell Address speaks of it beware of the Military Industrial Complex. I come from the Teddy Roosevelt School of breaking up some these companies. AT&T should never have the ability to shallow up the Baby Bells again.
If so - why isn't BP in jail for homicide or manslaughter?
Mr. Alton Easton.
A corporation is an entity not a person. Considering corporations to be human are mighty similar to Liberal Green types who believe animals, eco-system, and natural thing have rights. Sorry I don’t buy it. What you said about me not speaking about TRAP and bailing out auto companies is not true.
Do you want proof of that? Then I suggest you readhttp://www.victoriaadvocate.com/weblo...This is what I said on September 16, 2010.
1)“Liberals, Unions and Social Democrats believe in government takeovers, bailouts, card check, tax increases. All of these are not the answer. Peacetime bailouts and takeovers encourage unneeded risks from businesses while discourages unemployment. Unions, especially those in the automotive industry, have done a great disservice to average American consumer by unjustly increasing the cost of the product while decreasing the supply of that product. “
2)Conservatives believe in the “voodoo” supply side economics of Ronald Reagan , Calvin Coolidge , Warren Harding and Wm. McKinley with Wall Street, not Main Street, calling the shots. Under the supply side, it (willing or not) encourages greed and excess to a point; where only the few have the control of the economy. It centralizes the flow of money, harming local ma & pa stores, farms, and banks.
3)“A bailout for every American on debt.”
4)De-globalize the economy by ending NAFTA, CAFTA, and remove membership from the WTO.
Mr. Williams (Writein), just because I believe that corporations are not evil entities that need to be destroyed, does not mean I am for corporation welfare.
I am a strong capitalist and believe in the free-enterprise system.
The United States Treasury Department considers corporations are entities just like a person; not me.
Interesting that you did not speak out about the corporation welfare for research into "renewable energy" or Tarp II that bailed out GM, Chrysler, unions, and Wall Street.
It seems the former State Rep candidate strikes again. Alton, it seems your blog is pro-Neo Feudalism. A Corporation is NOT a person; a corporation is a group of persons selling goods or services. You are so quick to defend corporations why is that? Corporations have more political power than an individual American citizen. If Mr. Easton and his local conservative cohorts are strongly for drug testing individuals who are on unemployment and food stamps, then why aren’t they for drug testing corporations seeking corporate welfare? If corporations are people then should the same principle apply to them?
Some are Mother Teresa others like Attila the Hun. Just providing jobs is a good thing as long as you arn't the last mule pulling the wagon.
Corporations are people, but they’re treated like a bunch of bad in laws. For providing us with jobs and things we need and want at reasonable prices they are reviled and slander by Obuma, Pelousy, Reed and the rest of his socialists, half witted minions.
Their profits are double taxed, once at the corporate level (35%) and again when the profits are distributed to shareholders (15%), for a total of 50%. And of course Obuma wants more.
This high rate of taxation is the reason small businesses account for most of the employment in this country. Small business profits are only taxed once. But as stated above corporations are the only entities that can provide well paying jobs and benefits and we are rapidly making them extinct.
Secondly corporations are plagued by greedy, thoughtless unions that don’t know when to quit – plague is a good term for them. Union bosses are for the most part only interested in power and money, and they are not above abusing their own members or the public in general to get it.
If we were serious about reducing unemployment we would eliminate taxes on corporations and payrolls. The capital gains tax would be eliminated and all income whether from capital or labor would be taxed at the same rate. Income tax rates would have to increase, but it would bring a chuckle to see how people would react to seeing how much all this government spending on crap really costs.
Corporations are just like people. They're both on welfare paid for by the taxpayers.
Do Corporations have First Amendment rights? Like people?