To: icwhatudo
Maybe those more familiar on why people set up LLC's can tell us what creative things can be done with finances this way.Not much aside from expensing legitimate LLC expenses.
52 posted on
10/09/2007 9:47:56 AM PDT by
angkor
("California, Is nice to the homeless, California, Supercool to the homeless..." South Park 11.07)
To: angkor
Not much aside from expensing legitimate LLC expenses. If an LLC buys a car and the car depreciates in value, the LLC can record that depreciation as an expense against revenue for tax purposes.
If a natural person buys a car and tries to write off the depreciation, see what happens.
59 posted on
10/09/2007 9:54:21 AM PDT by
wideawake
(Why is it that so many self-proclaimed "Constitutionalists" know so little about the Constitution?)
To: angkor
Right, so the question becomes, “How does this guy afford his mortgage, car payments (if any), plus almost $40,000 in annual private school tuition on a combined $90K ish.
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