REVscene - Vancouver Automotive Forum

Rev · 08-27-2009, 03:02 PM

to the level of baller-ness that is present in this thread

Osse · 08-27-2009, 04:58 PM

My old boss sold part of the company to some private equity firm. Can't remember exact figures but he gave himself a $15 million bonus and over $6 million went to taxes.
Taxes are quite a bitch.

bcedhk · 10-06-2009, 10:42 AM

your dad's a noob if he doesn't know much he earns after tax.

and why do u need to know how much ur dad makes? so u know how much u can leech off him ? NOOB

josayeee · 10-13-2009, 10:57 PM

Theoretically, the tax system is designed so that one taxpayer is indifferent for earning income in a corporation or personally. In reality, it's more designed to stop high income earners from incorporating to get a better tax rate. Remember that when you pull money out of your corporation you include it in income as either a dividend or salary.

There are a lot of advantages to incorporating as it allows for tax deferal and if you have a family there are ways to for income splitting.