Coli financial experts is this true?(Warning: LLC Twitter)

[Astroslik]

Only some of that is true

 

[itsyoung!!]

there's something called paying a fair wage which states that you have to pay yourself in a way that makes sense on the books
if your business makes 1 mil a year and you're paying yourself only $5000 you'll get audited if not done correctly
there's a loophole that an accountant knows
so yes it's true but you have to do it the right way and no don't try to qualify for assistance
you can't just create an llc and pay yourself if the llc isn't generating money somehow I'm pretty sure too
Paying Yourself a Fair Wage: Part I

This is facts

I don’t know any Accoutant that would sign off on that foolishness lol. People gon mess around and get audited fukking with LLC Twitter

To be fair, i believe the number is around 0.0001% chance to get audited in past 10 years or so. Possible? Always. But very low odds for a business to be audited.

keep in mind government can garnish your wages/lien on your bank account without an audit.

 

[MasterOfAllHeSurveyz]

It's BS. That wouldn't pass muster from the IRS for reasonable compensation.

You don't need an LLC or any other type of corp to escape taxes.

If you have capital, in like a brokerage account that gets decent AR, borrow against it at low interest and you don't have to pay taxes on the loan.

 

[beenz]

A single member LLC doesn’t provide the level of protection these guys are advertising.

The IRS is not letting you get over that easy.

if it were that simple, then everyone would do it.

 

[Standing on business]

Brehs in here saying he’s right then using Billionaires as examples why



Zuck, bezos, buffet is not brehs audience

 

[UpAndComing]

Brehs in here saying he’s right then using Billionaires as examples why



Zuck, bezos, buffet is not being that’s audience

Anyone with a C-Corporation can do this though. Whether your business makes $1 Billion or $100k a year

 

[Illuminatos]

“My yearly business consultation membership is $250. “

 

[UpAndComing]

“My yearly business consultation membership is $250. “

Don't know what's funnier. His shameless promotion, or that the consultation is only $250 for a whole year