Tuesday, January 1, 2019

Would this work? Using a company for consulting, and use the profits to invest in property?


Hi​I'm wondering would this work?​I'd like to start contracting in a few years as a software developer. The money is great, but the tax is high. I'm wondering would this work.​I set up a company and get payments to the account. I then pay myself as an employee of the company, but I only pay myself what I need to live on or what I want to live on.​For example, income is 100K, I need 50K for a comfortable life, I take that pay my taxes on it, and keep the other 50K in the company. Obviously there's corporation tax on company profits, but could I take the balance, and buy property to rent out, increasing income in the company, and then pay myself as I need it, but if I don't need it continually buy property and keep the assets and cash flow increasing? via /r/business http://bit.ly/2SrFcl3

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