alexa se (privacy issue)

[Davevjr]

Originally Posted by Greenguy

This thread has now officially turned into the stupidest thread on the board, overtaking Mr Ann's dumpster diving fiasco.

I guess all these companies should dissolve their corporations & just run everything thru their's SS numbers

2 words: Pension Plan
2 more words: Profit Sharing

There are so many benefits to having a company with 2 employees that it's not even funny.

But maybe you know more than EVERY accountant that has ever lived.

what I am saying is if you are one guy or two even behind your computer at home you should not be a corpoaration. pension plan & profitsharing ok cool. but I am basicly saying is a person who forms a corporation and uses affialiate marketing as his biz is not doing himself a favor tax wise. Now I am just speaking tax wise not about other benefits. A sole proprietor he would taxed on personal income tax, as an s corp you also taxed on your personal income tax. but have the added issue of an annual franchise tax unless your corp is in nevada. if you company is sued it is true that if your personal assets will not be touchable provided you done nothing illegal. pension and profit sharing plans are avialable to all business, they are not corporate benefits.

[Useless]

I believe MrYum is a former accountant and could say a fuck of a lot more than I can, but...

S corps and LLCs are similar in that they are both “pass-through” entities for tax purposes; the income of these companies are passed through to their owners and reported on the owners’ personal income tax returns, thereby eliminating the double taxation incurred by owners of a standard corporation, or C corporation.

(ref: http://www.powerhomebiz.com/vol136/structure.htm)

Do your research.

[MrYum]

Originally Posted by Useless Warrior

I believe MrYum is a former accountant and could say a fuck of a lot more than I can, but...
(ref: http://www.powerhomebiz.com/vol136/structure.htm)

Do your research.

Don't remind me UW...damn, I hated doing that for a living. Porn is WAY more fun

Your quoted text is exactly on the mark

Everyone's situation is different...for anyone to come in and uniformly state "I am basicly saying is a person who forms a corporation and uses affialiate marketing as his biz is not doing himself a favor tax wise."...is ill-informed to put it mildly

I did a lot of research on the subject...as I'm sure Greenie did...as should anyone who's considering incorporating. But, Davevjr has made it pretty clear that he knows all about the subject and his mind won't be changed

Besides, that's not what this thread is about...Dave had a burr up his butt about Alexa showing his name/address/phone info. Sooo, why don't we get back on track Dave...somehow, I doubt you're going to convert many folks to your way of thinking about incorporating.

[Davevjr]

Originally Posted by MrYum

Don't remind me UW...damn, I hated doing that for a living. Porn is WAY more fun

Your quoted text is exactly on the mark

Everyone's situation is different...for anyone to come in and uniformly state "I am basicly saying is a person who forms a corporation and uses affialiate marketing as his biz is not doing himself a favor tax wise."...is ill-informed to put it mildly

I did a lot of research on the subject...as I'm sure Greenie did...as should anyone who's considering incorporating. But, Davevjr has made it pretty clear that he knows all about the subject and his mind won't be changed

Besides, that's not what this thread is about...Dave had a burr up his butt about Alexa showing his name/address/phone info. Sooo, why don't we get back on track Dave...somehow, I doubt you're going to convert many folks to your way of thinking about incorporating.

back on track fine look at the early post I siad I contact alexa already. the point was I am tired smart ass remarks when I post a question. I wish someone would just answer the question with out smart ass comments, so yes I was rude so get over it. as for the incorporation issue I am just going to say live and learn.

plus if I don't want my info passed to the general public that's my right, you don't care that's your right but I do and thats that.

[Greenguy]

Originally Posted by Davevjr

what I am saying is if you are one guy or two even behind your computer at home you should not be a corpoaration. pension plan & profitsharing ok cool. but I am basicly saying is a person who forms a corporation and uses affialiate marketing as his biz is not doing himself a favor tax wise. Now I am just speaking tax wise not about other benefits. A sole proprietor he would taxed on personal income tax, as an s corp you also taxed on your personal income tax. but have the added issue of an annual franchise tax unless your corp is in nevada. if you company is sued it is true that if your personal assets will not be touchable provided you done nothing illegal. pension and profit sharing plans are avialable to all business, they are not corporate benefits.

WRONG! It's even BETTER if it's just 2 people in the company.

If you open a Profit Sharing Plan, the company has to put in the same amount for EACH employee. If it's just my wife & I, we can load up the plan with any extra money we have & not pay taxes on it. Almost ALL of my profit goes into this fund.

Plus you throw in that at the end of the year, my company's books show a balance of $0.00, all I pay is the fee for filing the taxes ($100)

Plus, just think of all the benefits of filling out forms & applications & putting down that you have a job, an employer, you have check stubs & W2's.

I can remember how funny the loan officer looked at me when I told him I was self employed & then had to drag in all this paperwork & statements & proof of income.

"Proof of income? Here's my last 4 check stubs, Mr Loan Officer."

I've done both - it's much better with the company.

[Davevjr]

Originally Posted by Greenguy

WRONG! It's even BETTER if it's just 2 people in the company.

If you open a Profit Sharing Plan, the company has to put in the same amount for EACH employee. If it's just my wife & I, we can load up the plan with any extra money we have & not pay taxes on it. Almost ALL of my profit goes into this fund.

Plus you throw in that at the end of the year, my company's books show a balance of $0.00, all I pay is the fee for filing the taxes ($100)

Plus, just think of all the benefits of filling out forms & applications & putting down that you have a job, an employer, you have check stubs & W2's.

I can remember how funny the loan officer looked at me when I told him I was self employed & then had to drag in all this paperwork & statements & proof of income.

"Proof of income? Here's my last 4 check stubs, Mr Loan Officer."

I've done both - it's much better with the company.

That don't sound legal, but i am not lawyer i just hope you don't get
audited. and what about the taxes on the stock your corporation?

[Greenguy]

Originally Posted by Davevjr

That don't sound legal, but i am not lawyer i just hope you don't get
audited. and what about the taxes on the stock your corporation?

Exactly! YOU are NOT a lawyer.

I have a lawyer, I have an accountant & I have a financial adviser. I find it REALLY hard to believe that all 3 of them are out to fuck me over by telling me to do these things.

My company is not public, therefore there are no "stocks" I have 50% of the shares & my wife has 50% of the shares & I assume that if either of us were to sell any of those shares, we'd have to pay tax on the money that we recv'd for them.

Is there any other asinine question I can answer for you?

[Davevjr]

Originally Posted by Greenguy

Exactly! YOU are NOT a lawyer.

I have a lawyer, I have an accountant & I have a financial adviser. I find it REALLY hard to believe that all 3 of them are out to fuck me over by telling me to do these things.

My company is not public, therefore there are no "stocks" I have 50% of the shares & my wife has 50% of the shares & I assume that if either of us were to sell any of those shares, we'd have to pay tax on the money that we recv'd for them.

Is there any other asinine question I can answer for you?

OKAY WHATEVER DUDE