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One of the best parts of running your own company one-person or small consulting company is to decide when and how you pay taxes. So, for example, you can work
by DanielHB 3y ago
One of the best parts of running your own company one-person or small consulting company is to decide when and how you pay taxes. So, for example, you can work for a while, build up capital in the company and then not work for a while still paying yourself a salary.
Basically using the company as your savings account. If you don't mind paying yourself a lower salary you can take advantage of progressive tax as well.
It is about minimizing how much you work, it doesn't really help you to maximize how much you earn if you want to work full time with no pauses. It essentially levels out your tax burden across multiple years.