What can a business pay for?

[tbt]

What is the name of your state? Florida

I'm interested in starting my own sales/marketing business. I was told that doing so would benefit me with what the business could pay for prior to taxes.

The specific items in question are; my car, a portion of my rent, utilities, IT (pc's/software), insurance and garnishments. Also- how would child support be based? Would it be on amount paid to me by the "company"? Can the company pay into a trust fund?

What amount am I taxed on? Is a C.P.A. the only option for an accountant?

Thank you all for your time-

 

[divgradcurl]

What is the name of your state? Florida

I'm interested in starting my own sales/marketing business. I was told that doing so would benefit me with what the business could pay for prior to taxes.

The specific items in question are; my car, a portion of my rent, utilities, IT (pc's/software), insurance and garnishments. Also- how would child support be based? Would it be on amount paid to me by the "company"? Can the company pay into a trust fund?

What amount am I taxed on? Is a C.P.A. the only option for an accountant?

Thank you all for your time-

Not only will you want to talk with an accountant, you will likely also want to talk with an attorney. There are limits to how much a company can pay for to any owner or employee and still be considered a separate operating entity for purposes of the taxes and liability limitations. Google "sarbanes-oxley" for more info.