On Tue, Jun 17, 2008 at 7:57 PM, Dean Collins <[EMAIL PROTECTED]> wrote: > Bzzzt I'm not an accountant, and don't play one on tv but you are wrong. > > This only relates to the classification of the income as passive and has > nothing to do with can a director of a business shield himself. > > Go pay someone $250 an hour and they'll tell you how it affects you and > stop wasting electrons on this sill email chain.
Like I said in the last email, I misread it and it has nothing to do with if a director of a business may rent his property to his business. > > > Cheers, > > Dean > > > > -----Original Message----- > From: [EMAIL PROTECTED] > [mailto:[EMAIL PROTECTED] On Behalf Of C F > Sent: Tuesday, 17 June 2008 5:23 PM > To: Asterisk Users Mailing List - Non-Commercial Discussion > Subject: Re: [asterisk-users] World Cheapest Predictive Dialer! > > My questions was to the fact that JRA mentioned he knows at least 3 > owners..... to which I asked if it was LLCs or other type of > corporations, since LLCs have different rules. What I mentioned about > it being illegal is for non LLC type of corporations, but for most of > the other types of corporations, while it's possible that it is > illegal for LLCs as well in some states I could understand that the > rules could be relaxed for LLCs as well. As far as the IRS goes i'm > quite positive that it's illegal for tax purposes, in other words it > cannot be counted as a business expense. > The way I understand this: > http://www.irs.gov/businesses/small/article/0,,id=146835,00.html > towards the bottom of the page, it cannot always be used as a business > expense. Correct me if I'm wrong. > > On Tue, Jun 17, 2008 at 12:21 PM, Steve Totaro > <[EMAIL PROTECTED]> wrote: >> You are probably confusing corporate tactics to pay less taxes vs >> corporate tactics to protect assets. The first does provide some >> asset protection but is mainly to pay less taxes. The second is to >> basically "hide" assets through totally legal LLCs. >> >> Thanks, >> Steve Totaro >> >> On Tue, Jun 17, 2008 at 12:00 PM, C F <[EMAIL PROTECTED]> wrote: >>> LLCs? >>> >>> On 6/16/08, Jay R. Ashworth <[EMAIL PROTECTED]> wrote: >>>> On Sat, Jun 14, 2008 at 11:13:31PM -0400, C F wrote: >>>> > > Happens in the commercial world all the time; it's a common way > to "get >>>> > > cash out of the corporation" -- a business's building is owned > by the >>>> > > corporation's owners, and rented to the corporation. >>>> > >>>> > This is actually illegal in some states and considered a breach of >>>> > Fiduciary everywhere. >>>> >>>> May be, but I know at least 3 owners of private corporations who are >>>> doing it, and their auditors seem fine with it. I think that it >>>> matters whether the corporation is public or not... >>>> >>>> Cheers, >>>> -- jra >>>> -- >>>> Jay R. Ashworth Baylink > [EMAIL PROTECTED] >>>> Designer The Things I Think > RFC 2100 >>>> Ashworth & Associates http://baylink.pitas.com > '87 e24 >>>> St Petersburg FL USA http://photo.imageinc.us +1 > 727 647 1274 >>>> >>>> Those who cast the vote decide nothing. >>>> Those who count the vote decide everything. >>>> -- (Joseph Stalin) >>>> >>>> _______________________________________________ >>>> -- Bandwidth and Colocation Provided by http://www.api-digital.com > -- >>>> >>>> asterisk-users mailing list >>>> To UNSUBSCRIBE or update options visit: >>>> http://lists.digium.com/mailman/listinfo/asterisk-users >>>> >>> >>> _______________________________________________ >>> -- Bandwidth and Colocation Provided by http://www.api-digital.com -- >>> >>> asterisk-users mailing list >>> To UNSUBSCRIBE or update options visit: >>> http://lists.digium.com/mailman/listinfo/asterisk-users >>> >> >> _______________________________________________ >> -- Bandwidth and Colocation Provided by http://www.api-digital.com -- >> >> asterisk-users mailing list >> To UNSUBSCRIBE or update options visit: >> http://lists.digium.com/mailman/listinfo/asterisk-users >> > > _______________________________________________ > -- Bandwidth and Colocation Provided by http://www.api-digital.com -- > > asterisk-users mailing list > To UNSUBSCRIBE or update options visit: > http://lists.digium.com/mailman/listinfo/asterisk-users > > _______________________________________________ > -- Bandwidth and Colocation Provided by http://www.api-digital.com -- > > asterisk-users mailing list > To UNSUBSCRIBE or update options visit: > http://lists.digium.com/mailman/listinfo/asterisk-users > _______________________________________________ -- Bandwidth and Colocation Provided by http://www.api-digital.com -- asterisk-users mailing list To UNSUBSCRIBE or update options visit: http://lists.digium.com/mailman/listinfo/asterisk-users