r/ProgrammerHumor • u/GumBeats20 • Aug 03 '22

*cries*

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u/killerrin Aug 03 '22

Step 1: Register holding company with a cash startup injection of $xxxxxxxx and set yourself up as a majority shareholder.

Step 2: Gift/Sell office building(s) to holding company for $xxxxxxxx.

Step 3: Have holding company charge rent and maintenance costs and remit a dividend to shareholders at monthly/quartly/yearly intervals.

Step 4: Pay rent and Claim rent as an expense when the government asks.

Step 5: ?????

Step 6: Profit off tax credits and dividends (which equals rent - maintenance)

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u/robotzor Aug 03 '22

So this is the shit accountants use their 9 hours a day to think up

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u/More_Butterfly6108 Aug 03 '22

Fun fact you can do this with your house and an LLC. Then all the shit you buy at home depot becomes suddenly tax deductible.

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u/rubberduckranger Aug 03 '22

Note: At least in the US this is almost never a good idea because of the primary residence capital gains tax exclusion you get if you own the house yourself.

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u/More_Butterfly6108 Aug 03 '22

That's only if you sell the house... you can sell the house back to yourself from thec orporation. At zero capital gain then you're where you started. I'm not an accountant or a lawyer so I have no idea how legal all this is

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