Show HN: Pay Rent to Yourself and Deduct it Twice like Walmart (Save 33.5 Mil)

Posted by camz on Tuesday August 02, 2011 @08:38PM
from the show-hn dept.

( 6 comments | 18 points | on HN )

Re:Show HN: Pay Rent to Yourself and Deduct it Twice like Wa... by hugh3 on Tuesday August 02, 2011 @09:33PM (#2839450)

I'm pretty sure individuals are unlikely to be able to get away with the same thing. :(

[ Parent | on HN ]

Re:Show HN: Pay Rent to Yourself and Deduct it Twice like Wa... by sixtofour on Tuesday August 02, 2011 @09:56PM (#2839521)

Really rich individuals probably can.

[ Parent | on HN ]

Re:Show HN: Pay Rent to Yourself and Deduct it Twice like Wa... by camz on Tuesday August 02, 2011 @10:36PM (#2839609)

Technically, anyone could get away with it. But, it's the value proposition that really makes it unrealistic lol.

You'd have to be at a point where you're trying to scale your business for this type of tax planning to really kick butt.

[ Parent | on HN ]

Re:Show HN: Pay Rent to Yourself and Deduct it Twice like Wa... by kaiyu on Tuesday August 02, 2011 @10:51PM (#2839636)

I need to start a company...

[ Parent | on HN ]

Re:Show HN: Pay Rent to Yourself and Deduct it Twice like Wa... by BillSaysThis on Wednesday August 03, 2011 @12:27AM (#2839835)

"Does this still work? Federal corporate tax law has closed this loophole, so this tax model is no longer useful for federal level taxation."

So individuals, corps, no one's really going to get away with this who isn't already.

[ Parent | on HN ]

Re:Show HN: Pay Rent to Yourself and Deduct it Twice like Wa... by camz on Wednesday August 03, 2011 @01:18AM (#2839918)

This loophole is closed for federal corp tax, but its still available for state tax planning.

[ Parent | on HN ]