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Forum » Make $200k yet net around $130k -- does it feel brutal?
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Thread: Make $200k yet net around $130k -- does it feel brutal?

post 1690254693 09-18-2023, 08:33 AM
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#31
  1. OneLegSquats
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I'm self employed, hired my bro as an employee, pay him £1000 a month and he withdraws it and gives it back to me in cash. Brb £12500 a year tax free allowance + my own allowance, then it's 20% up to £50,000 and 40% above that.
There are plenty of tricks out there to avoid tax, but only if you're uncucked and work for yourself.
post 1690255203 09-18-2023, 08:43 AM
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#32
  1. greenleaf
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This is the most brutal...



post 1690255363 09-18-2023, 08:47 AM
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#33
  1. FAPhaggot
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I am a wagecel, so I get straight paycheck withholdings and zero way to game it.
FA Crew
Always Pick 1 Crew

"Experience is something you get right after you need it."
post 1690255653 09-18-2023, 08:51 AM
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#34
  1. elterrible987
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Originally Posted By OneLegSquats⏩
I'm self employed, hired my bro as an employee, pay him £1000 a month and he withdraws it and gives it back to me in cash. Brb £12500 a year tax free allowance + my own allowance, then it's 20% up to £50,000 and 40% above that.
There are plenty of tricks out there to avoid tax, but only if you're uncucked and work for yourself.
that doesnt make sense how does he not have to pay income tax on that unless he has no other job?
post 1690255743 09-18-2023, 08:53 AM
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#35
  1. OneLegSquats
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Originally Posted By elterrible987⏩
that doesnt make sense how does he not have to pay income tax on that unless he has no other job?
He has no other job, He's at uni
post 1690255863 09-18-2023, 08:56 AM
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#36
  1. Destor
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Originally Posted By elterrible987⏩
that doesnt make sense how does he not have to pay income tax on that unless he has no other job?
Maybe if the guy fits under the basic deduction amount or whatever it is, you can make up to $13k or something in Canada tax free

Don't think this is worth the risk though
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