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Sovcit is thinking out loud. (lemmy.world)

submitted 2 days ago by [email protected] to c/[email protected]

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[–] [email protected] 145 points 2 days ago (2 children)

If you’re rich, this is good and noble accounting. If you’re poor, this is tax evasion.

[–] [email protected] 4 points 16 hours ago (1 children)

Since the business finances are separate from the individuals/family they would have to pay the business with their personal funds, basically just paying taxes on all of their income twice.

[–] [email protected] 1 points 4 hours ago

The rich definitely do not do that

[–] [email protected] 47 points 2 days ago (1 children)

You have to have enough income and deductible expenditures to where your itemized deductions would be greater than the standard deduction of $24K, which will not be the case for the overwhelming majority of people

[–] [email protected] 16 points 2 days ago

Even so. Doing well for themselves middle class American: tax evasion. The rich: well they’re just really smart business people and we should worship them!