Since 2020, billionaire fortunes are up while the wealth of the bottom 60% has declined. Oxfam has urged governments to rein in the "billionaire class."
nah dude. You put as much money as possible back into the business, instead of paying it in income tax. When you’re small, you basically want to make sure your net profit is 1 dollar end of fiscal year. When you’re big enough, then ok, show a profit. pay your tax. Those better accountants you can now afford, they’re a write off too though. I own a bar, place doesn’t make any money, all the bills are paid though, pay a lot in federal and provincial sales taxes. It’s a different mentality. You just get used to it being ok not to show or have much a profit, because the business pays all your bills, you’re almost like an old subsistence model where you might handle lots of cash, but you never keep much because of myriad taxes and expenses, but it doesn’t really matter, the heats on and there’s always food in the fridge.
nah dude. You put as much money as possible back into the business, instead of paying it in income tax. When you’re small, you basically want to make sure your net profit is 1 dollar end of fiscal year. When you’re big enough, then ok, show a profit. pay your tax. Those better accountants you can now afford, they’re a write off too though. I own a bar, place doesn’t make any money, all the bills are paid though, pay a lot in federal and provincial sales taxes. It’s a different mentality. You just get used to it being ok not to show or have much a profit, because the business pays all your bills, you’re almost like an old subsistence model where you might handle lots of cash, but you never keep much because of myriad taxes and expenses, but it doesn’t really matter, the heats on and there’s always food in the fridge.