Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Ok, now I'm a corporation, I'm paid $1 to house-sit in my corporation's mansion and my food, vacations, car, and entertainment are employee benefits.


This isn’t how it works - for one, you’d be required to be paid a fair wage as an employee. Your employee “benefits” would be taxable income to you personally.

Then, your corporation would quickly be scrutinized on both its income (corporations don’t get W-2’s, you probably can’t just move your existing income to a corp) and its expenses (“reasonable and necessary” is very broadly interpreted, but is unlikely to support what you’re doing).


Those benefits are taxed ad income under existing rules. It's not even close to being that easy to abuse.


I've never had to report or been taxed on corporate benefits like free lunches, retreats, or any kind of company event. People very freely classify things as business expenses and not as benefits. Want a tax free corporate sponsored vacation? Make a 2 minute monetized youtube video about the beach you went to! Oh no, you only made 50¢ from youtube? I guess there's a $8,000 loss I can use to offset any tricky to avoid taxed income. Oh, and I need a top of the line MacBook and camera equipment to make those videos so the corp pays for those too.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: