Owning A Small Business Can Help You Pay $0 In Taxes 💰

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🏡How to Make $2,500/mo from 1 Airbnb in the Next 12 Weeks

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[jimhouse]

Yes this works, however... The downside is that now when you try to qualify for literally ANYTHING, (credit card, car loan, mortgage, etc.) You have an income of 0 and you don't qualify.

[MakinMiracles]

Talk about an s/c-corp. U can use the money you would owe to reinvest into the company instead so you virtually can pay 0 taxes. Right..or I'm bugging?

[dconbaseball]

You can’t write the vehicle off unless you use it exclusively for work tho

[Timg]

Seeing that the average car weighs about 4000lbs in the US what you really mean to say is you need a pick up or SUV to qualify

[OptimalShielding]

One of his expenses was paying himself a salary and distributions so he does pay taxes but gets access to a lot of benefits tax free

[CharlyCD]

The small business’ 100k is that after expenses?

_110k revenue
10k business expenses
=100k income

_100k income
10k business expenses
=90k taxable income

You get to deduct business expenses twice???

[spikesecho]

Who's car payment is $900/month? Jesus

[azimmey]

It gets me nothing. Once you hit 0 for owing taxes then you get nothing back.

[peter_shoes_]

What he is saying is functionally illegal. Do not do this, you will go to jail

[Letitbsaid]

You only get to write off your car once tho, so year two your taxes will be up substantially. 📠