Today was a very bad day....

[DOTR]

.... that our business will not survive very many at all.
On average we get between 25 orders on a REALLY slow day to over 50 on a good day.
Last thursday we got 12
Friday - 10
Today - 1.... yeah 1.
I will either have to lay off half the employees or half everyone's hours. Leaning towards halving hours.
And even that will only sustain us for a few weeks at this rate.

And then the Governor gives a stay at home order.
We're fucked. And Washington can't get their heads out of their asses long enough to work together and pass a bill. Too fucking scared the other party will get the credit.
I know a lot, and i mean a LOT of business owners and all day today is panic and mayhem. It is all I did today was deal with "I don't know what to do at this point..."

Is your governor being held to account for this?

 

[Missourian]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

 

[RoshawnMarkwees]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

One of the bar bands I play in is incorporated for exactly those reasons. Our guitarist is a pretty shrewd businessman. As band members, we get tax breaks and endorsement deals, too.

 

[BULLDOG]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

 

[iamwhatiseem]

Well, knew it was coming.... the Bonz will only be working 15-20 hours per week now.
Her office is only seeing patients with immediate needs. Example, Wed - Fri only seeing 3 patients.
Good thing is her company is still going to cover health insurance.

 

[Toddsterpatriot]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

Your corporation can supply and deduct housing for it's principal officer as a business expense.

Link?

We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

You're lying.

 

[eddiew]

what are you shipping?

We are a commercial printer.
I thought we would get "saved" by the government work we do for numerous county offices. But they have all closed, people there are still working but they are using nothing. One saving grace is counties are ordering 100,000's of election forms/envelopes preparing for mail in only voting. But that will not sustain us. Banks are giving us decent business, needing more drive thru envelopes. But pretty much no one is ordering marketing materials which is the cream of the business.

iam I wish you the best I have 4 businesses that rent from me I just gave them free rent for april Hope you get treated that well

 

[eddiew]

what are you shipping?

We are a commercial printer.
I thought we would get "saved" by the government work we do for numerous county offices. But they have all closed, people there are still working but they are using nothing. One saving grace is counties are ordering 100,000's of election forms/envelopes preparing for mail in only voting. But that will not sustain us. Banks are giving us decent business, needing more drive thru envelopes. But pretty much no one is ordering marketing materials which is the cream of the business.

I would lay them off and they will get unemployment, unstead of halving their hours.

And that could be 100% or more of their earnings now

 

[BULLDOG]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

Your corporation can supply and deduct housing for it's principal officer as a business expense.

Link?

We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

You're lying.

Nope. Not lying.
Corporate Housing Is Beneficial for Employees and Employers
For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

For employers, the cost of providing corporate housing can result in a substantial tax write-off. And when it comes to saving money on corporate taxes, every credit and deduction helps.

How Is Corporate Housing Taxed? Is It Tax-Deductible?

Corporate housing can be a tax deduction, or either a business or an employee, depending on who pays and other conditions. Get details here.

www.corporatehousing.com

 

[Toddsterpatriot]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

Your corporation can supply and deduct housing for it's principal officer as a business expense.

Link?

We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

You're lying.

Nope. Not lying.
Corporate Housing Is Beneficial for Employees and Employers
For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

For employers, the cost of providing corporate housing can result in a substantial tax write-off. And when it comes to saving money on corporate taxes, every credit and deduction helps.

How Is Corporate Housing Taxed? Is It Tax-Deductible?

Corporate housing can be a tax deduction, or either a business or an employee, depending on who pays and other conditions. Get details here.

www.corporatehousing.com

For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

So the CEO has to pay taxes on it.

Thanks for the laugh!

 

[Missourian]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

If I take corporated housing as an employee of the corporation...I must add it to my personal 1099 as compensation just as if I gave myself cash. There is no getting around it.

 

[Missourian]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

Your corporation can supply and deduct housing for it's principal officer as a business expense.

Link?

We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

You're lying.

Nope. Not lying.
Corporate Housing Is Beneficial for Employees and Employers
For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

For employers, the cost of providing corporate housing can result in a substantial tax write-off. And when it comes to saving money on corporate taxes, every credit and deduction helps.

How Is Corporate Housing Taxed? Is It Tax-Deductible?

Corporate housing can be a tax deduction, or either a business or an employee, depending on who pays and other conditions. Get details here.

www.corporatehousing.com

Yes...this^^^^.

The corporation can write it off as a business expense...and thus pay zero taxes on it...BUT...the employee, even if it's the CEO would be required to list the housing as a form of work paid compensation on their personal taxes and pay taxes on that compensation at the individual rate...likely 25% or higher...where if the corporatiin just held that money...it would only owe 10% tax.

 

[Missourian]

Well, knew it was coming.... the Bonz will only be working 15-20 hours per week now.
Her office is only seeing patients with immediate needs. Example, Wed - Fri only seeing 3 patients.
Good thing is her company is still going to cover health insurance.

Sorry man...wish I needed some printing done...

 

[BULLDOG]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

Your corporation can supply and deduct housing for it's principal officer as a business expense.

Link?

We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

You're lying.

Nope. Not lying.
Corporate Housing Is Beneficial for Employees and Employers
For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

For employers, the cost of providing corporate housing can result in a substantial tax write-off. And when it comes to saving money on corporate taxes, every credit and deduction helps.

How Is Corporate Housing Taxed? Is It Tax-Deductible?

Corporate housing can be a tax deduction, or either a business or an employee, depending on who pays and other conditions. Get details here.

www.corporatehousing.com

For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

So the CEO has to pay taxes on it.

Thanks for the laugh!

The CEO has to pay taxes based on the value the corporation assigns to the benefit. That is much less than the cost of purchasing the items and paying the taxes as an individual would have to do. The purchase price is a totally deductible business expense for the corporation.

 

[BULLDOG]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

If I take corporated housing as an employee of the corporation...I must add it to my personal 1099 as compensation just as if I gave myself cash. There is no getting around it.

Taxes are much less than the cost of purchasing a house and furnishings. A new big screen TV becomes a deductible expense for the corporation, with no cost to the person enjoying the housing.

 

[Toddsterpatriot]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

Your corporation can supply and deduct housing for it's principal officer as a business expense.

Link?

We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

You're lying.

Nope. Not lying.
Corporate Housing Is Beneficial for Employees and Employers
For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

For employers, the cost of providing corporate housing can result in a substantial tax write-off. And when it comes to saving money on corporate taxes, every credit and deduction helps.

How Is Corporate Housing Taxed? Is It Tax-Deductible?

Corporate housing can be a tax deduction, or either a business or an employee, depending on who pays and other conditions. Get details here.

www.corporatehousing.com

For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

So the CEO has to pay taxes on it.

Thanks for the laugh!

The CEO has to pay taxes based on the value the corporation assigns to the benefit. That is much less than the cost of purchasing the items and paying the taxes as an individual would have to do. The purchase price is a totally deductible business expense for the corporation.

The CEO has to pay taxes based on the value the corporation assigns to the benefit.

No, the CEO has to pay based on the actual cost of the housing.

The purchase price is a totally deductible business expense for the corporation.

And totally taxable compensation for the officer.

 

[Toddsterpatriot]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

If I take corporated housing as an employee of the corporation...I must add it to my personal 1099 as compensation just as if I gave myself cash. There is no getting around it.

Taxes are much less than the cost of purchasing a house and furnishings. A new big screen TV becomes a deductible expense for the corporation, with no cost to the person enjoying the housing.

A new big screen TV becomes a deductible expense for the corporation, with no cost to the person enjoying the housing.

You're lying again.

 

[BULLDOG]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

Your corporation can supply and deduct housing for it's principal officer as a business expense.

Link?

We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

You're lying.

Nope. Not lying.
Corporate Housing Is Beneficial for Employees and Employers
For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

For employers, the cost of providing corporate housing can result in a substantial tax write-off. And when it comes to saving money on corporate taxes, every credit and deduction helps.

How Is Corporate Housing Taxed? Is It Tax-Deductible?

Corporate housing can be a tax deduction, or either a business or an employee, depending on who pays and other conditions. Get details here.

www.corporatehousing.com

For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

So the CEO has to pay taxes on it.

Thanks for the laugh!

The CEO has to pay taxes based on the value the corporation assigns to the benefit. That is much less than the cost of purchasing the items and paying the taxes as an individual would have to do. The purchase price is a totally deductible business expense for the corporation.

The CEO has to pay taxes based on the value the corporation assigns to the benefit.

No, the CEO has to pay based on the actual cost of the housing.

The purchase price is a totally deductible business expense for the corporation.

And totally taxable compensation for the officer.

Taxes are much less than purchase price plus taxes dumb ass.

 

[Toddsterpatriot]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

Your corporation can supply and deduct housing for it's principal officer as a business expense.

Link?

We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

You're lying.

Nope. Not lying.
Corporate Housing Is Beneficial for Employees and Employers
For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

For employers, the cost of providing corporate housing can result in a substantial tax write-off. And when it comes to saving money on corporate taxes, every credit and deduction helps.

How Is Corporate Housing Taxed? Is It Tax-Deductible?

Corporate housing can be a tax deduction, or either a business or an employee, depending on who pays and other conditions. Get details here.

www.corporatehousing.com

For employees, corporate housing may be considered taxable compensation, but it’s still a great perk. You just may have to pay taxes for the privilege.

So the CEO has to pay taxes on it.

Thanks for the laugh!

The CEO has to pay taxes based on the value the corporation assigns to the benefit. That is much less than the cost of purchasing the items and paying the taxes as an individual would have to do. The purchase price is a totally deductible business expense for the corporation.

The CEO has to pay taxes based on the value the corporation assigns to the benefit.

No, the CEO has to pay based on the actual cost of the housing.

The purchase price is a totally deductible business expense for the corporation.

And totally taxable compensation for the officer.

Taxes are much less than purchase price plus taxes dumb ass.

No shit, asshole.
But your claim is the corporation can deduct and give to the officer for free.
Your claim is wrong.
The corporation gets a reduction in taxes, the officer gets an increase in taxes.

 

[Missourian]

Sorry to hear this. I hope this virus is taken out quickly and government stimulates the economy and assists those businesses impacted. The economy was going well, nobody should lose their livelihoods and businesses because of something like this beyond their control, especially considering how this all came about.

People have been losing their livelihoods, businesses, insurance, and everything else they had because of things beyond their control for a long time. Until now, someone always managed to claim it was their own damn fault. I hope this recently found concern for people instead of corporations lasts more than a few weeks.

Damn, you ignorant leftist children annoy me with your reflexive hatred of corporations. There are MILLIONS of corporations in the country, the majority of which being small businesspeople.

I have a corporation. THe act of incorporating in the state of Oregon allows me to do business legally, and separate by business life from my private life.

I have six employees and we are ALL fucked right now because leftists like you are closing us down and then grandstanding in congress refusing to help "corporations".

Corporations are not people. Would you have incorporated if you weren't able to shift much of that corporate money into your own pocket in a way that a normal, unincorporated person can't. The country is made up of citizens, not companies. We should only help corporations/businesses if that help ultimately ends up in the pockets of the people.

This is not why you incorporate.

I Incorporated because, at the time as a sole proprietor, I was being taxed at 33% on all profits, even though I was holding on to money for rainy day funds, maintenance funds, upgrade funds, expansion funds, etc. The way the tax law was, any of that money I hadn't spent by theend of the year was taxed at that rate (33%). When I incoporated, anything I paid myself was taxed at my individual rate...but money held by the corporation was only taxed at 10%...once it was spent, that expenditure became a write off. If I ever personally spent it...it became personal income and was taxed at my individual rate.

The other VERY important benefit of incorporating was liability. The corporation could be sued...but my personal holdings are insulated...in most cases.

As a sole proprietor or a corporation, any profit or loss was your's anyway, no matter how you shuffled it behind the corporate veil. The corporation allowed you to keep more of it in a way that normal citizens can't. Thank you for making my point.

Not true. I cannot keep it. The corporation can keep it for corporate expenditures only.

The "normal citizen" isn't buying a $140,000 semi tractor and a $50,000 trailer every other month, paying employees and their taxes and employment benefits, paying for millions in insurance coverage or creating jobs for 35 people either.

The reduced tax rate is only an incentive to invest in expansion.

When it comes to me, I pay the same rate the normal citizen pays.

Are their perks to being a corporation? You betcha. I could go out tomorrow and buy a Delorean, park it out front and write it off as a company car. But I must use it 75% of the time (I don't remember what the actual percentage is) or I am begging for an audit. My corporation owns no company cars...it isn't worth it to me. I'd rather buy another freightliner.

I assume you have an LLC. If you had a normal S or C type Corporation,you would be required to have a board of directors. As the holder of an LLC you personally have the choice what to buy and when. Your corporation can supply virtually all your expenses and pay the corporate tax rate for all of it. As I said, you control what is done with any and all profit, and the corporation shields you from tax rates that normal citizens pay. No one forms a corporation unless they receive more from the corporate shield than they would as a proprietor, or sole proprietor. Go try blowing smoke up someone else;s ass.

What to buy and when...FOR THE BUSINESS. I cannot spend money on myself. I can buy a crib or a fishing boat or a mansion. I can buy tools, equipment, desks, computers, office space...and even then, I can't buy my kid a computer. It must be business related. I cannot personally enrich myself with that money. It is for business.

Why can't a normal citizen do that?

You have a job. What the fuck are you going to save up for FOR WORK year after year? You can expense anything you buy for work...if you're willing to itemize.

I think you are just being obtuse. It's not a members only club. Start a business... Incorporate...then you'll understand.

Your corporation can supply and deduct housing for it's principal officer as a business expense. Who says that housing can't include a crib, or even a man cave in the basement that has a pool table, big screen tv and a beer dispenser. Your wife is your top business adviser, so take her out to eat at the most expensive place in town. Spend a couple of minutes discussing work, and then deduct the whole night. You think your company might start doing off shore work? You need to buy and deduct a boat. Nobody says you ever have to actually do any work on the water, but you needed the boat to investigate the possibility. We both know those would all be considered valid businesses expenses, and nobody would bat an eye at the expense sheet.

If I take corporated housing as an employee of the corporation...I must add it to my personal 1099 as compensation just as if I gave myself cash. There is no getting around it.

Taxes are much less than the cost of purchasing a house and furnishings. A new big screen TV becomes a deductible expense for the corporation, with no cost to the person enjoying the housing.

To be honest...we are now out of my depth of knowledge.

The way it is designed to work is that the compensation is to be claimed on personal taxes.

If the CEO gets a furnished penthouse apartment...he is to claim that as compensation equal to fair market value of renting a comparable penthouse apartment.

Whether that translates to the real world...I do not know. Human nature being what it is, I suspect not as much as we would like.

I don't play tax games. The wife doesn't have a company car...she drives a 20 year old buick and I drive a 30 year old pickup truck. So...if folks cheat the system, they are committing a crime.

Just remember...the lion's share of corporations aren't on Wall Street...they're honest folks on main street.

That's my unvarnished opinion.