I understand that you may deduct some of your personal expenses as business expenses.
(legally?) It seems that's all you can do from your post. "re-invested into business" part of your access is not tax deductible. It is still on your book. For S-corp, it does not help at all. For C-corp, you may defer your tax at the expense of paying additional corp income tax. It seems to me, to avoid tax is not easy even for rich people. At least, it is not easy for Rich-People-in-the-Making; unless, most of your income is long term capital gain. For an established rich man, he already paid his income taxes. Otherwise, how to explain “Yacht People”?
Or I missed your point?
(legally?) It seems that's all you can do from your post. "re-invested into business" part of your access is not tax deductible. It is still on your book. For S-corp, it does not help at all. For C-corp, you may defer your tax at the expense of paying additional corp income tax. It seems to me, to avoid tax is not easy even for rich people. At least, it is not easy for Rich-People-in-the-Making; unless, most of your income is long term capital gain. For an established rich man, he already paid his income taxes. Otherwise, how to explain “Yacht People”?
Or I missed your point?
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