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well, what does "take out income" have to do with that?

Posted on: September 29, 2020 at 13:49:09 CT
tigerdb MU
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If your business is an LLC or not incorporated, the net income is going to flow through to your return. You can do things to minimize that - accelerated depreciation or SEP contributions, for example...but taking $ out of the business will not reduce the tax liability. If it's a Corp and the "taking out" is paying you a wage or bonus, then the wages are hitting your individual return anyway (you could avoid corp taxes if it's a C Corp.)
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How come the NYT have not released Trumps Tax returns yet - tcat KC - 9/29 12:12:06
     They don't have them (nm) - Sal MU - 9/29 12:56:56
          They have a guy from SDNY verbally giving talking points(nm) - TigerFan92 STL - 9/29 13:40:40
               Whoever it is, I think that's correct - Sal MU - 9/29 13:49:20
     Correct. A good real estate tax attorney will have you take - TigerFan92 STL - 9/29 12:33:01
          "take out income?" What in the **** are you talking about - tigerdb MU - 9/29 12:59:44
               Hard to believe you can't seem to understand what are busine - TigerFan92 STL - 9/29 13:07:27
                    I'm glad that you have someone to tell you what to do, - tigerdb MU - 9/29 13:24:05
                         My tax attorney does it every year. He projects in December - TigerFan92 STL - 9/29 13:34:50
                              well, what does "take out income" have to do with that? - tigerdb MU - 9/29 13:49:09
                                   I spend the extra within the business. Are you really an - TigerFan92 STL - 9/29 13:56:05
                                        What in the hell is this supposed to mean? - tigerdb MU - 9/29 14:03:37
                    there are folks embarrassing themselves in this thread - 90Tiger STL - 9/29 13:13:26
                         correct teetee - anyone that thinks "taken out as income" - tigerdb MU - 9/29 13:30:35
                              Do you think rich people pay themselves weekly?(nm) - TigerFan92 STL - 9/29 13:31:28
                                   What in the **** are you talking about? - tigerdb MU - 9/29 13:43:13
                                        yer no accountant. no way one is this dumb(nm) - TigerFan92 STL - 9/29 13:57:12
                                             I don't see how someone as stupid as you, has a business - tigerdb MU - 9/29 14:04:45
          RE: Correct. A good real estate tax attorney will have you take - MOCO SON MU - 9/29 12:44:56
               of course. The leaks would have been actually damaging(nm) - TigerFan92 STL - 9/29 12:50:11
          Does that include the $70K for hair styling? - Gyro MU - 9/29 12:35:58
               That was for the TV show. While dumb that is not yer busines - TigerFan92 STL - 9/29 12:49:40
               You keep saying these numbers like they are true. - tcat KC - 9/29 12:39:16
                    Oh they're not true? - Gyro MU - 9/29 12:42:57
                         So what if it is? It was for a TV show. Pretty sure he has a - TigerMatt STL - 9/29 12:50:30
                              The best was the late night host rubbing his hands in it - TigerFan92 STL - 9/29 12:55:28
          That's a great point... but... - TigerMatt STL - 9/29 12:35:56
               yeah that is one thing you are clueless about. you do have - TigerFan92 STL - 9/29 12:48:59
                    That would be you and your stupid dinosaurs lived with - TigerMatt STL - 9/29 12:51:17
                         Ok ape man(nm) - TigerFan92 STL - 9/29 13:13:00
               He should be more like you where you reply to a post... - Gyro MU - 9/29 12:37:44
                    Just returning the favor to a hit and run poster who - TigerMatt STL - 9/29 12:45:11
                         Hit and run poster = poster who doesn't post all day... - Gyro MU - 9/29 16:50:34
     NYTimes: MSM sources are committing felonies in leaking - BH O'bonga MU - 9/29 12:26:09
          RE: NYTimes: MSM sources are committing felonies in leaking - MOCO SON MU - 9/29 12:36:12
          lol sharing information is not a crime (nm) - pickle MU - 9/29 12:29:17
               Do you mean a real crime or are we taking Pickle crimes - DHighlander NWMSU - 9/29 12:33:36
                    i always mean real crime - pickle MU - 9/29 13:04:30
                    Pickle has already ruled so ba bye(nm) - Gyro MU - 9/29 12:36:28
     They addressed that in the article. - kmawv8 MU - 9/29 12:16:13
          lmfao, you're so gullible (nm) - 90Tiger STL - 9/29 12:21:03
               I gave him the answer that NYT claimed. - kmawv8 MU - 9/29 12:29:12
                    the question wasn't "why does the NYT say they aren't - 90Tiger STL - 9/29 12:35:45
                    He's an angry cyclist(nm) - Gyro MU - 9/29 12:33:42
          lol(nm) - Ragnar Danneskjold MU - 9/29 12:20:39
          “Source” is most likely the SDNY. Nm - Savage KC - 9/29 12:20:10
          How would a copy of the return expose the source - Spanky KU - 9/29 12:18:58
               How do you know it is a copy of the return? - Ace AU - 9/29 12:21:34
                    Corporate returns(nm) - Spanky KU - 9/29 12:43:46
               I haven't seen it so I can't really answer that. - kmawv8 MU - 9/29 12:20:49
                    I am skeptical of any story that depends on anonymous - Spanky KU - 9/29 12:38:36
                    You mean - meatiger MU - 9/29 12:21:42
                         Except that the NYT has been burned repeatedly the last - DHighlander NWMSU - 9/29 12:28:40
                              So feel free to be skeptical - meatiger MU - 9/29 12:33:28
                                   Anything from the NYT about Trump I disbelieve. They have - DHighlander NWMSU - 9/29 12:37:25
                                        On this issue - meatiger MU - 9/29 12:38:45
                                             Made up based on sources that tell them what they want to - DHighlander NWMSU - 9/29 12:39:44
                              No, it's not except for that. That's EXACTLY part of the - kmawv8 MU - 9/29 12:30:31
                                   Why would they drag their name through the mud then? - tcat KC - 9/29 12:37:24




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