Well, I guess that's fair because time is ultimately more valuable when you have money. The value of money certainly diminishes as you have more of it.



No I'm not. Your point about time is valid. I don't know your personal situation, if as an example, you have a family with two children, then obviously not only is your time valuable to you, but it's also valuable to your family.

But, you are suggesting here something that is very different from what the OP is saying.



I'm aware of what is going on in the Canadian housing markets and job markets, so I am aware that salaries in that range are not unheard of.

You have to understand here, I am having a conversation here with people who are from the US, who could likely just file the paperwork to incorporate, then sell their work as a service to a company, which would allow them to salary out their income from their company, which counts as pass through income and is taxed at 15%. Even if they don't do that, they're likely only paying 20-25% and then get a chunk of it back in the form of a tax return based upon their deductions.

We have what's known as Integration here. The income tax act has essentially been adjusted so that the combind rate of corporate and personal tax is equal to if you were just paid it straight as salary. There's still the advantages of deferring personal tax by leaving it in a corporation but now if you were to invest that money in your corp that you left in in say equities since you don't want idle cash it's taxed at the highest corporate tax rate as passive income. Same with rentals in your corp if you have less than five full time employees dedicated to property management. They consider it passive income. Which makes it not so great to now leave money in your corp unless you're reinvesting it into your own business.

Canada's really tightened up which isn't a bad thing. The wealthy should contribute the most. Our public sector just doesn't attract the best talent necessarily and I take issues with my own province, not so much at the federal level, although sometimes I think the federal government needs to understand it has to step in and do the provincial government's job in some cases and its not the end of provincial sovereignty.

It's Christmas and I'm about to go on a rant about tax and the government. I'll spare everyone that and go back to the eggnog.


This post was edited by SBD on Dec 25 2022 06:30pm

Butthurt much?

The way the US system is setup, you don't want to leave money in a company that you plan to salary out, because then it will end up getting taxed twice (corporate income and then personal income.) It depends a little bit on the type of corporation and I am speaking as an owner of an LLC, but generally larger corporations get loans to cover all of their investments and then get a separate loan to have capital to pay expenses. So, usually all of the money held by the company is actually money that is owed to the banks and most of the profit is either salaried out or paid to the owners through dividends.



Yes. I am upset at the people saying things that are incredibly insulting to the hard working Americans that built the country.

I get that nobody wants to pay for anything, but the complete fantasy that people are discussing in this thread, that taxes are somehow theft, is totally and completely absurd.

I don't even know how to carry on this conversation in a polite manner.

Honestly, I can't.

I would say well "If you think taxes are theft then you can move to XYZ country," but I can't do that, because there's no countries on Earth that have zero taxes on anything...

Even saying "Well you can go live in the woods" is still not fair because they're going to have to drive on a public road way that was built for their benefit to get to the forest that they are going to illegally live in until they die.

I guess a fair statement would be "Well if you think that taxes are theft, then you don't have to pay them. You can just drown yourself and your problem is solved."

I don't even know where this nonsense talking point comes from as there are zero political parties in the US that believe that taxes are theft...

It honestly sounds like some Rand Paul moronic bullshit and the poster didn't figure out that the guy says the most outrageous stuff to get attention in the media and anybody who believes it is an idiot.

Drink some eggnog and relax then. You'll have to explain how a persons belief that taxes are theft is insulting hard working Americans. Many hard-working Americans disproportionally pay the highest taxes percentage wise then end up drinking lead-laced water. God forbid they complain about it, how un-American of those laborer's. Beautiful fair statement, what crack you smoking?

Where did I say that people are not allowed to complain about it?

My issue is with people lying while saying something that is incredibility disrespectful.

Here is a box of tissues for Christmas, try not to use them all in one sitting. For real though, alternative opinions, especially about taxation as theft is far from lying ROFL. What are you talking about lying?

Aww Thanks.




You know at the end of the day it doesn't matter.

There are zero places in the entire universe that you can go to and not pay taxes.

So either we are all crooks and everything is a scam, or we live in a productive society that people live in and some of them are doing things that greatly benefit every single person in that society.

It's your choice and I would encourage you to realize that things are what they are.

Imagine thinking you can live in 1st world country with the biggest infrastructure and military.. And want this all tax FREE.
lawl..

Can you answer the question now? Who is lying about what? And what is incredibly disrespectful?

This post was edited by RedFromWinter on Dec 25 2022 09:20pm