[asterisk-users] World Cheapest Predictive Dialer!

[C F]

Reading up a bit more it seems that I could be wrong about that last
part with the IRS rules, and in fact that link is meant for the
property owner how to file this income, and nothing about the
corporation.

On Tue, Jun 17, 2008 at 5:23 PM, C F <shmaltz at gmail.com> wrote:
> 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
> <stotaro at totarotechnologies.com> 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 <shmaltz at gmail.com> wrote:
>>> LLCs?
>>>
>>> On 6/16/08, Jay R. Ashworth <jra at baylink.com> 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                      jra at baylink.com
>>>> 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)
>>>>
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