SayUncle, Inc.
At long last, I will become a part of the problem. I’ve been working on it for a while. I have been engaged in various real property investments for a while. Now, it is time for this evil, capitalist, free-trading bastard to commit the orgy of the market. I am going to incorporate myself. Why? Well, for a plethora of reasons:
Tax deductions, tax deductions, tax deductions: Mileage, meals and entertainment, interest expense, and deductions for health insurance.
I can purchase Class 3 NFA firearms without getting approval from local law enforcement.
I can salary myself.
Plus, I get to give myself a cool title like God Emperor of SayUncle, Inc. Impressive on a résumé.
Now, there will no longer be just dinner with the wife at the dining room table. It will be a SayUncle, Inc. meeting of the Board of Directors. Hell, I’ll make Politically Incorrect Dog the Treasurer. Politically Correct Dog gets the title of Vice President In Charge of Making Poo on the Neighbor’s Lawn.
That feeling of being drunk with power.
And, the créme de la créme, I get an SUV absolutely free.
I can’t wait! Power to the people. Long live capitalism. Fear me, I am the man. In league with the Forces of Darkness. I’ve already got my application to join the Republican National Committee.
Wow! My trip into darknéss has causéd mé to put moré tildés ovér léttérs than évér béforé. Go mé! Béing évil is fun.
Update: Les points out in comments that, as a corporation, I won’t be personally liable for anything. And for his benefit, this post is meant to be, uhm, sarcastic but yes I do plan on incorporating myself.
March 4th, 2004 at 11:48 am
Can’t tell if you’re serious or not, but I incorporated as a Tennessee LLC about six years ago. For liability reasons, though, rather than deductions. Then someone pointed out that being essentially a one-man LLC wasn’t much of a liability shield. An umbrealla liability insurance policy would probably work better for that purpose.
I eventually dissolved the LLC because I got sick of the extra paperwork and the $300 annual fee to the state. If I were going to do it again, I’d look into incorporating somewhere with lower fees.
I’m now back to being a sole proprietorship. I still take the relevant deductions, and it’s a lot less paperwork. Profits from my consulting and writing just show up as extra income on the 1040.
March 4th, 2004 at 2:33 pm
As long as you don’t become a “Benedict Arnold” corporation and outsource all your jobs overseas. . . .
March 9th, 2004 at 4:20 pm
Uncle:
Actually, you have to be VERY careful to keep your personal and business expenditures / affairs completely separate, or else you effectively pierce the corporate veil for them and open up your personal assets to liability attacks.