Comments on: What are the tax advantages of having a $1 annual salary when you are the founder of a big corporation? http://www.moneysnatchers.com/news/what-are-the-tax-advantages-of-having-a-1-annual-salary-when-you-are-the-founder-of-a-big-corporation/ Money Snatchers Finance Blog Thu, 10 Dec 2009 09:16:56 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Judy http://www.moneysnatchers.com/news/what-are-the-tax-advantages-of-having-a-1-annual-salary-when-you-are-the-founder-of-a-big-corporation/comment-page-1/#comment-205 Judy Wed, 21 Jan 2009 05:24:57 +0000 http://www.moneysnatchers.com/united-states/what-are-the-tax-advantages-of-having-a-1-annual-salary-when-you-are-the-founder-of-a-big-corporation/#comment-205 There's not a tax advantage. It's mainly a combination of helping out the company, since they don't have to pay out a huge salary, and a PR move. People in those types of jobs have enough money other then their salaries that they can maintain their lifestyles for quite awhile. There’s not a tax advantage. It’s mainly a combination of helping out the company, since they don’t have to pay out a huge salary, and a PR move. People in those types of jobs have enough money other then their salaries that they can maintain their lifestyles for quite awhile.

]]> By: dragonfly9151974 http://www.moneysnatchers.com/news/what-are-the-tax-advantages-of-having-a-1-annual-salary-when-you-are-the-founder-of-a-big-corporation/comment-page-1/#comment-204 dragonfly9151974 Sun, 18 Jan 2009 09:18:06 +0000 http://www.moneysnatchers.com/united-states/what-are-the-tax-advantages-of-having-a-1-annual-salary-when-you-are-the-founder-of-a-big-corporation/#comment-204 They tend to have large expense accounts which unofficially replace their salaries and since work is usually their whole lives, they can use their expense accounts for just about everything. Because almost anything on an expense account is considered a "business expense" they are tax free. This is one tool that corporations and CEO's use to reduce tax liability. They tend to have large expense accounts which unofficially replace their salaries and since work is usually their whole lives, they can use their expense accounts for just about everything.

Because almost anything on an expense account is considered a “business expense” they are tax free. This is one tool that corporations and CEO’s use to reduce tax liability.

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