lollilolli2020 Posted May 9 Report Share Posted May 9 7 minutes ago, Kalam_Youtheman said: nice explanation.. emo bro.. I didnt went in to details but I get your point... not sure why he took all FT's though.. but for knowledge purpose.. how does this impact FT vs consulting ? end of the day taxes must to be paid kadha on the annual income Consulting-- corporation have different tax structure kada. you will be deemed as employee. all the expenses like commute, car, internet, office supplies, everything used in running a company will be claimed as expenses kada. US lo unsure of how single incorporation works But pakka desam lo aithe, single person incorporation pettukoni nuvvu 65/hr charge cheste you will also collect 13% as tax on top of it; CPA regular method or quick method use chesi will save you some money here; and you can get money from you corporation as dividends or as salary; normally people take it as minimal salary to save on taxes write off most of the stuff on corporation. i have heard ppl corporation peru meeda cars koni depreciate ayindii loss ayindii ani claim kuda chestaru that way you game the system a little bit to avoid paying huge taxes. Quote Link to comment Share on other sites More sharing options...
lollilolli2020 Posted May 9 Report Share Posted May 9 12 minutes ago, jaathiratnalu2 said: Which tech bro , 3 FT Jibs ela chestaru ade ardam aithaledu; consulting okay, FTs 3 chestunnad ante vaadu tuffid fellow ne. Quote Link to comment Share on other sites More sharing options...
Captain_nd_Coke Posted May 9 Report Share Posted May 9 18 minutes ago, lollilolli2020 said: Consulting-- corporation have different tax structure kada. you will be deemed as employee. all the expenses like commute, car, internet, office supplies, everything used in running a company will be claimed as expenses kada. US lo unsure of how single incorporation works But pakka desam lo aithe, single person incorporation pettukoni nuvvu 65/hr charge cheste you will also collect 13% as tax on top of it; CPA regular method or quick method use chesi will save you some money here; and you can get money from you corporation as dividends or as salary; normally people take it as minimal salary to save on taxes write off most of the stuff on corporation. i have heard ppl corporation peru meeda cars koni depreciate ayindii loss ayindii ani claim kuda chestaru that way you game the system a little bit to avoid paying huge taxes. Ya border ki atu side ide danda le most of our folks Quote Link to comment Share on other sites More sharing options...
Kalam_Youtheman Posted May 9 Author Report Share Posted May 9 38 minutes ago, Desimasala said: I paid $28K tax returns my gross was 620K wow 620k.. super bro.. how come less taxes... take home entha bro Quote Link to comment Share on other sites More sharing options...
Desimasala Posted May 9 Report Share Posted May 9 1 hour ago, Kalam_Youtheman said: wow 620k.. super bro.. how come less taxes... take home entha bro More you make these eye are yes pay you more Anna, I have dedicated CPA still no use Quote Link to comment Share on other sites More sharing options...
Kalam_Youtheman Posted May 9 Author Report Share Posted May 9 1 hour ago, Desimasala said: More you make these eye are yes pay you more Anna, I have dedicated CPA still no use 400k ki 50k annadu FTE but mee case lo 620k but 28k which is cool .. tax bracket ekkuva kada bro 620k ante .. means more tax owe kadha.. how are you handling it by paying 28k only.. I make decent salary but I still owe min 5k though I max out 401k. tips emaina unte ivvu bro Quote Link to comment Share on other sites More sharing options...
Kalam_Youtheman Posted May 9 Author Report Share Posted May 9 3 hours ago, jaathiratnalu2 said: Which tech bro , 3 FT Jibs ela chestaru 3 hours ago, lollilolli2020 said: ade ardam aithaledu; consulting okay, FTs 3 chestunnad ante vaadu tuffid fellow ne. 3 hours ago, jaathiratnalu2 said: Which tech bro , 3 FT Jibs ela chestaru .Net developer ani cheppadu bro long time not sure what he is working on now Quote Link to comment Share on other sites More sharing options...
Barney_Stinson Posted May 9 Report Share Posted May 9 i paid 250k Quote Link to comment Share on other sites More sharing options...
Deadp0ol2 Posted May 9 Report Share Posted May 9 lingu lingu mani okka job ke 14K kattina monna 4 jobs ante easy ga untadi 50K kante ekkuve undaale Quote Link to comment Share on other sites More sharing options...
Kalam_Youtheman Posted May 9 Author Report Share Posted May 9 10 minutes ago, Deadp0ol2 said: lingu lingu mani okka job ke 14K kattina monna 4 jobs ante easy ga untadi 50K kante ekkuve undaale ante you didnt paid enoiught throug paycheck emo bro..pay now or later types but I htink ppl who make more than 400k might have used some tips to avoid paying taxes by having a CPA or self knowledge.. contractors aithe workout avthudhemo FT ki bokke.. no escape Quote Link to comment Share on other sites More sharing options...
Desimasala Posted May 10 Report Share Posted May 10 9 hours ago, Kalam_Youtheman said: 400k ki 50k annadu FTE but mee case lo 620k but 28k which is cool .. tax bracket ekkuva kada bro 620k ante .. means more tax owe kadha.. how are you handling it by paying 28k only.. I make decent salary but I still owe min 5k though I max out 401k. tips emaina unte ivvu bro Add more HSA as well Quote Link to comment Share on other sites More sharing options...
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