Quote:
Originally Posted by bronco67
Can anyone answer this?
Under the advice of someone, I basically come out with zero profit, and only file personal income tax. So I buy the right amount of business expenses(which I need) and pay myself salary so that on dec 31, my business shows no profit.
Is it bad to go this way, while we're talking about things that could get you audited?
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whats the point? how can you show no business profit but still file personal income tax.. either way you are paying tax on your income... how are you avoiding this?