Taxes: I know how to pay less (legally)
#11
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My Ride: 2005 BMW 545i, Silver Grey, Sport Package, R. Shades, Cold Pkg, Sat. Rad., Prem. Sound.
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Originally Posted by Evenflow545' date='Sep 14 2005, 06:22 PM
Better solution in USA:? Buy a $65,000.00 BMW.? ? Keep in garage.? ? Buy $17,000.00, slightly used Cadillac Deville for business.? ? Gets 28 mpg, highway.? ? Drive the living shit out of it, on business, at 41 cents per mile IRS reimbursement.? ? The mileage reimbursement soon pays for the Cadillac.? ? Drive the BMW to dinner and for fun.? Throw the Cadillac away and buy another one.? ? Repeat as often as necessary.
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If you're contracting, work short hours and negotiate higher wage (Provide to the employer that you get the job done, though). That way, you can deduct mileage every day you go to work. Now, that's benefit. Of course, you have to work at least 2 different place (1 is home and the other work place). Home business.
#12
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My Ride: My ex-ride: EU '08 LCI 520dA. Space Grey, Sport Seats in Black Leather/Fabric Anthracite, Sport Steering Wheel, A/C with Extended Features, Hi-Fi Speakers, Cup Holders, Cruise with Braking function, Folding Rear Seats, Xenons, Park Distance Control.
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In Finland we get 0,40 ? (0,5 $) per kilometer.
And this money is tax free!!!
If my E60 would be a company car it would increas my salary with some 1230 ? / month and I'd have to pay a 60 % tax on that (1230 x 0,6= 740?).
But then I woudn't have to pay for gas, insurance nor maintance.
My car costs about 70.000 ? (87.500 $) here in Finland.
And this money is tax free!!!
If my E60 would be a company car it would increas my salary with some 1230 ? / month and I'd have to pay a 60 % tax on that (1230 x 0,6= 740?).
But then I woudn't have to pay for gas, insurance nor maintance.
My car costs about 70.000 ? (87.500 $) here in Finland.
#13
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My Ride: 535d Eccelsa, 05 2005 (built 12-04), sapphireblack, beige dakota leather, electric seats, poplar wood trim, sport suspension, 124 style 18" alloys, differentiated f/r runflat tyres, steptronic, adaptive light control, bi-xenon, BMW PRO nav, cd, cd changer, electric-foldable and automatic antidazzle rear mirrors, automatic antidazzle internal rear mirror, adjustable central armrest, BT, Hifi Professional LOGIC7 , extended functions aircon, full lighting package, green comfort fascia on windshield, PDC park distance control, voice control, CPT9000 car phone, BMW Assist, BMW On-line, BMW Tracking, alarm system, programmable remote controls.
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Originally Posted by Ricracing' date='Sep 16 2005, 05:03 PM
In Finland we get 0,40 ? (0,5 $) per kilometer.
And this money is tax free!!!
If my E60 would be a company car it would increas my salary with some 1230 ? / month and I'd have to pay a 60 % tax on that (1230 x 0,6= 740?).
But then I woudn't have to pay for gas, insurance nor maintance.
My car costs about 70.000 ? (87.500 $) here in Finland.
And this money is tax free!!!
If my E60 would be a company car it would increas my salary with some 1230 ? / month and I'd have to pay a 60 % tax on that (1230 x 0,6= 740?).
But then I woudn't have to pay for gas, insurance nor maintance.
My car costs about 70.000 ? (87.500 $) here in Finland.
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You lease (actually long term rental) a 65.000 Euros 535d; you will pay about 1.800 Euros per month, everything included. The only cost you have on top is fuel and highways tolls. Then you fill every month your reimbursement form. For a 535d (every car has its own figure) you're allowed to charge the company 0,71 Euros per km. The money you get from your company for your mileage is totally TAX FREE and totally deductable for the company (it's a production cost).
In this way, being quite a hardcore traveller, I make about 4.000 Euros every month of reimbursements. Deducting the lease and the fuel, I get every month about 2.000 Euros TAX FREE! And I don't need to drive any bloody Cadillac or Camry or Fiat.
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