Subject:
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Re: New newsgroup lugnet.admin.finance
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Newsgroups:
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lugnet.admin.finance
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Date:
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Tue, 9 Apr 2002 11:11:17 GMT
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Viewed:
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2346 times
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In lugnet.admin.finance, David Eaton writes:
> Also for consideration is taxes. If LUGNET is considered a business entity,
> I assume it will owe taxes in its profits, as well as anyone paid *by* such
> an entity as an administrator? How much does that raise the bar?
If I understand things correctly, LUGNET can be a small C corporation and all
business expenses come out of all income and the difference only is taxed. If
a cost to the business is paying for the vehicles and computers of the CEO and
president then those positions can earn that much less salary that will be
taxed and the corporation is taxed at a more favorable rate (I think 15% for
the first $50K).
There are many legal ways of dodging the onerous tax burden that some pay out
of ignorance. Consult your attorney and CPA for the details.
Chris
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Message is in Reply To:
 | | Re: New newsgroup lugnet.admin.finance
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| (...) I'm curious as to actual goals. Clearly the target covers basic Lugnet costs such as ISP billing. How much beyond that does it need to go before it's deemable as a worthwhile "full time" job? How many jobs does it need to create, and how many (...) (23 years ago, 3-Apr-02, to lugnet.admin.finance)
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