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Corporations and reducing tax
Hey everyone, like most people here, I have read Rich Dad Poor Dad several times now and am inspired each time I read it. In there he mentions creating a corporation to significantly save on taxes. He references being able to take your income, then pay certain expenses (like your car payment and vacations) and THEN whatever is left over after that is what you report for tax purposes. In other words, you can spend most of your income prior to paying any taxes on it. Has anyone done this with their real estate or other business or have the tax laws changed since then? Thank you SO MUCH!