12-24-2010, 03:25 AM
M A V I C wrote: I have a corp that I get a W2 from. I guess I don't see how that helps.
I was hoping you could use it to separate your business's gross income from your salary when applying for CHIP. My wife's corporation makes $x/month, but pays her $y/month, which is what we report on our personal tax forms. That's our income, not what the county pays her corporation.
The way things are going, everybody should incorporate. [rant] Like how you can go to jail for sharing a dozen mp3s, while banks are breaking into people's homes and literally stealing their stuff, and getting away with it because they're corporations. [/rant]
Anyhow, my dad worked as a commercial fisherman, and barely broke even, but on paper it looked like we were rolling in dough because programs would ignore the huge operating expenses in his business. It was the same thing you're going through. I wish I could travel back in time and help him incorporate. It would've paid for itself in no time.