4 ms·
For accounting purposes he likely did actually pay himself the money, transferring it from the company to himself, and adding the perceived value of the game to
by talltimtom 8y ago
For accounting purposes he likely did actually pay himself the money, transferring it from the company to himself, and adding the perceived value of the game to tho company, which can write off the loss going forwards.
- jowdones 8y agoWhere I live (EU), if I pay myself "for accounting purposes" $60 / hour, then I own the state $24 / hour in taxes. Did he actually pay =~ $20,000 in taxes? If so, respect, he did pay himself $60 / hour. But I bet a castle that he "payed himself" $60 / hour just like I pay myself a castle per hour when I do side work. (Which is also why I so nonchalantly can afford to bet one :P)
- pbhjpbhj 8y agoAIUI you can keep the wages in arrears, in UK tax is due when you actually receive the money. This is sensible: otherwise you might owe taxes if your employer company collapsed and you weren't paid, but without having income to pay it.