Journal #6541 by satchmo

satchmo

Posted 14 years ago2010-05-05 01:31:25 UTC

satchmo“Ever tried. Ever failed. No matter. Try again. Fail again. Fail better. -- Samuel Beckett”

I became a corporation today.

I had an initial meeting with my new accountant, and she immediately recommended me to establish a subchapter S corporation for tax reasons. As a corporation, I am in a lower tax bracket, and I qualify for far more tax deductions. In addition, I get to have a separate pension plan that is tax sheltered.

It's so complicated, but I am glad that she seems to know what she's talking about.

DiscoStu

Commented 14 years ago2010-05-05 01:53:33 UTC Comment #47829

If that's a good thing, then congratulations. For whatever it is.

Cheers, SATCHMO CORP. INTERNATIONAL LIMITED!

Trapt

Commented 14 years ago2010-05-05 02:45:19 UTC Comment #47818

watching satchmo over the past few years has been like watching the american dream come true...

congrats bro

Notewell

Commented 14 years ago2010-05-05 06:43:24 UTC Comment #47827

Please don't lose your heart now that you're a corporation.
So, what do you do?

TheGrimReafer

Commented 14 years ago2010-05-05 10:18:56 UTC Comment #47819

Yeah Trapt

SpaG

Commented 14 years ago2010-05-05 11:04:07 UTC Comment #47822

Congrats, satchmo inc.

Tetsu0

Commented 14 years ago2010-05-05 12:37:08 UTC Comment #47823

Don't be one of those evil corps please!
Congratulations satch, good to hear everything's working out for you.
I'm still going to be poor for another 2+ years until im out of college.

Nightlinks

Commented 14 years ago2010-05-05 15:20:35 UTC Comment #47830

Yeah, congrats man

I wish you luck in all your other future endeavors.

saw1833

Commented 14 years ago2010-05-05 20:26:03 UTC Comment #47824

Hell yeah! I almost don't believe you're real anymore Satchmo, you're just too far ahead in life. Congrats.

Skals

Commented 14 years ago2010-05-06 02:52:12 UTC Comment #47826

Grats Satchmo Corp. Ltd.! I home ur accountant was right.

satchmo

Commented 14 years ago2010-05-06 09:07:41 UTC Comment #47820

I am a corporation of two people. My wife automatically becomes a shareholder because she is my legal spouse. I am setting up a corporate account, and I'll pay myself each month, but all the work-related expenses are tax deductible, and my earnings can only be taxed if I pay myself.

It all sounds like a legal loophole for rich people, but I guess I am one of them now. It still feels very strange.

Alabastor_Twob

Commented 14 years ago2010-05-06 11:45:35 UTC Comment #47825

Congratulations. Now you just need corporate offices on the top floor of the tallest building in the city.

Notewell

Commented 14 years ago2010-05-06 18:47:57 UTC Comment #47828

So, Satchmo is the Valve of the medical/private world, therefore, Valve is the Satchmo of the Game world.
Now we need a Satchmo for the musical world.
...Wait...

satchmo

Commented 14 years ago2010-05-07 16:10:35 UTC Comment #47821

: )

Journal #6541

13 Comments