Question : Is it a good idea to use a personal corporation as a tax shelter?
Like Robert Kirosaki advises in Rich Dad, Poor Dad.
- asked by Defunct
All Answers:
Answer #1
Setting up a pointless S-corporation is a way toSPEND money, not save it.Rich Dad, Poor Dad isinspirational reading, but it's economicallystupid.
- answered by v b
Answer #2
A corp is a LOUSY "tax shelter." You'll pay atleast as much in taxes, and possibly MORE in thelong run. And you'll have the hassle and expenseof additional tax return filings and possiblyother filings at the state level, not to mentionminimum state franchise fees to pay, etc.
- answered by bostonianinmo
Answer #3
Tax shelter corporations have more audits than anyother corporations and they can slowly slide youinto another can of worms.
- answered by MO
Answer #4
No, terrible idea.
- answered by mike n
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