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Where 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 s
by jowdones 8y ago
Where 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.