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A comment on Student Loan Debt Crisis Is Bankrupting Millennials. Parent comment

Re:Student Loan Debt Crisis Is Bankrupting Millennials by whamlastxmas on Friday June 14, 2019 @01:57PM (#20185100)
In the US, I'm pretty sure you couldn't get away with this. Business expenses are held against income to determine how much tax you pay. There are strict guidelines on what counts as a business expense versus a personal expense. I suspect spending a ton on groceries and rent/mortgage for a residential address would raise some flags and get you audited.
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Re:Student Loan Debt Crisis Is Bankrupting Millennials by Gibbon1 on Friday June 14, 2019 @04:31PM (#20186432)
There is always the classic income tax dodge.

Incorporate, then hire your wife, mistress, children, and random family members.

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Re:Student Loan Debt Crisis Is Bankrupting Millennials by whamlastxmas on Friday June 14, 2019 @04:50PM (#20186569)
If you're employing people in lower tax brackets that might save a little bit of money if they funnel it back to you. But I don't generally hear about that tactic. It would be more relevant if you were wanting to bleed a not for profit entity where there are legal caps on the types of income executives can make.

The classic tax dodge is the $1 salary and getting taxed at capital gains rates instead

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Re:Student Loan Debt Crisis Is Bankrupting Millennials by Gibbon1 on Friday June 14, 2019 @05:48PM (#20186938)
Back when top marginal rates were 70% And corporate/capital gains taxes were also high. It was a classic thing.
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