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And if you incorporated your ebay business, it would likely pay very little in taxes too. But then you'd take the same income as wages and pay the same income
by YokoZar 10y ago
And if you incorporated your ebay business, it would likely pay very little in taxes too. But then you'd take the same income as wages and pay the same income taxes you did before you had a legal title on your business.
- krashidov 10y agoBut couldn't you keep that money in a bank account and spend it on 'business expenses' without paying yourself a wage?
- rahkiin 10y agoAt least in the Netherlands, that is not allowed. With an LLC you have to give yourself a living wage. Also, if you mark them as profit (not pay them to your employee (yourself)) you have to pay corporate tax. You also can't just deduct your breakfast.
- chongli 10y agoWhat if you share your breakfast with your spouse who also happens to be an employee? Then breakfast is actually a meeting!