Finally made money now i have to give it away?

[JohnH]

Not me

Sorry, but it isn't obvious to me.
I'm in favor of a flat tax rate for everyone, regardless of how much they earn. I call graduated tax rates as a variation on legal theft born of greed & envy.

[erchess]

A comment

Anyone who thinks that wealthy people in this country are over taxed with a goal of redistributing the wealth should consider the number of millionaires we have. Conditions are right here for anyone who wants to work hard and build wealth. It has been obvious to most people since the time of the Civil War that the tax system needs to be graduated so that the wealthy pay proportionately more than the less well off.

[Gretel]

LLC
I am the only owner,
roth ira,
just funds for business growth I don't spend much on personal,

Find a good accountant in your area and discuss setting up a C-Corporation. If you want to leave the majority of the money in your business to grow, you probably pay the lowest tax possible and can take full advantage of fringe benefits.

[JohnH]

Welcome to the world of wealth redistribution

Obviously you are missing the main job of government as it's understood by most people in political power - to redistribute wealth based on the whims of those in power. They sincerely believe they know better how your money should be used that you do, so if you earn "too much" profit they believe it's their duty to tax it away from you and give it to someone else. These elitists justify this immoral behavior by convincing themeslves that they are smarter, wiser, and intellectually superior to you. But your last line needs to b changed. You are not giving the money away - it's being stolen from you through a system of legalized theft by people who dont understand the proper role of government.

[telecomguy]

How is the business organized (LLC, Corporation, Sole Proprietor)?

Are you the only owner?

Do you have a retirement plan?

Do you need current access to the funds for personal use or business growth?

I have two other large (multi-million dollar) telecom businesses that I work with, and would be more than willing to assist you if you need help.

LLC
I am the only owner,
roth ira,
just funds for business growth I don't spend much on personal,

[JoshinNC]

answer a few questions

I've been in business for 4 years and I have been operating at a loss for the past 4 years. I have finally started making money off of my business which should continue to grow over the next few years. However, it looks like we are going to have to give up at least half of the profit.

To avoid this and to continue to grow faster, is there a way to shelter this money to avoid being taxed? investment property etc?

lets say the profit for the company a year is now 500,000 could I invest this money into property to avoid paying 42% plus in taxes? Obviously have the money not taxed would make it easier to grow the business.

You work so hard over the years to finally make money just to have half taken away.

Thanks

How is the business organized (LLC, Corporation, Sole Proprietor)?

Are you the only owner?

Do you have a retirement plan?

Do you need current access to the funds for personal use or business growth?

I have two other large (multi-million dollar) telecom businesses that I work with, and would be more than willing to assist you if you need help.

[telecomguy]

I've been in business for 4 years and I have been operating at a loss for the past 4 years. I have finally started making money off of my business which should continue to grow over the next few years. However, it looks like we are going to have to give up at least half of the profit.

To avoid this and to continue to grow faster, is there a way to shelter this money to avoid being taxed? investment property etc?

lets say the profit for the company a year is now 500,000 could I invest this money into property to avoid paying 42% plus in taxes? Obviously have the money not taxed would make it easier to grow the business.

You work so hard over the years to finally make money just to have half taken away.

Thanks