Practice of charging personal expenses to company has been around for a long time before RK came out with his junk books fit for the gullible. RK says "Thank You for making me richer!"
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Pay Yourself first.. RK
- Thread starter tonychat
- Start date
If you read closely along this thread, some sikie ego here and there will say RK is full of shit. Hehe. This is one way to spot those losers out.
I'm in oz now, and I have seen a few people doing this thing of registering a business so that they apply their costs as tax claims. I did not really understand until now how the concept worked.
I just got hold of RK's book and have been reading - now at the main Rule (Rich people only buy assets, poor people buy liabilities).
So, I guess you are saying that we don't really need to own even our own house, conceptually. We should use our money to get into investments that will get us bigger returns.
The best case would be if we can even get an investment or business going that is bringing in the money even if we are not there. Like where RK and his friend Mike had set up a comic books library in the basement, and got Mike's sister to be the librarian.
Yes it is. You sound like you are getting the whole idea into you. Congrats to you.
Using such tools will benefit you in your life and it also shows that govt of the world encourage businesses to be set up and reward them with tax breaks.
It is the way the govt imply that you are help them to build the country. I really like this way of seeing it.
The Rich Hunt For Big Preys
Saving is for the poor to get 'rich'. I don't think the bank's interest rate will make you rich. I think the capital gain from property does more. No one seems to buy shares, hoping and waiting to receive that paltry sum of dividends every year.
Saving is actually quite limited comparing to the leap and bound of a sound investment. I don't think people actually get rich from saving a little here and a little there. But, it is a start for accumulating a feasible capital to reinvest to gain something bigger.
Saving is for the poor to get 'rich'. I don't think the bank's interest rate will make you rich. I think the capital gain from property does more. No one seems to buy shares, hoping and waiting to receive that paltry sum of dividends every year.
Saving is actually quite limited comparing to the leap and bound of a sound investment. I don't think people actually get rich from saving a little here and a little there. But, it is a start for accumulating a feasible capital to reinvest to gain something bigger.
Re: The Rich Hunt For Big Preys
Saving can't get you anywhere. Unless you are talking about saving 10 to 20k per month. And the time between saving and invest cannotbe too long till inflation kicks in.
The usual flow is money from income of business nature and reinvest in passive income generating assets.
Saving can't get you anywhere. Unless you are talking about saving 10 to 20k per month. And the time between saving and invest cannotbe too long till inflation kicks in.
The usual flow is money from income of business nature and reinvest in passive income generating assets.
loser sinkies are those who read RK thing and feel so enlighten and uplifted after reading it.
RK thing is useful for rookie in business. those who exposed to accounting or business will find it too simple.
why do people register pte ltd? of cos, beside what RK said claimed everything under business ac. even your venture fail, the most you lost is your company. BUT whatever your own company pay you and benefits also taxable.
only thing not taxable is capital gain in sg.
that is all i will reveal, i will not share more.
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loser sinkies are those who read RK thing and feel so enlighten and uplifted after reading it.
RK thing is useful for rookie in business. those who exposed to accounting or business will find it too simple.
why do people register pte ltd? of cos, beside what RK said claimed everything under business ac. even your venture fail, the most you lost is your company. BUT whatever your own company pay you and benefits also taxable.
only thing not taxable is capital gain in sg.
that is all i will reveal, i will not share more.
Nobody gives a shit what you write or claim. Or how much you want to reveal. here is talking about concept and ideas. You come in with a sinkie shit low life behavior of telling others how much you know as though others will gives a shit.
You can keep your pearls of sinkie shit to yourself. Yes, to a sinkie self like you. You are always the master and the rest of the world populations are at most a rookie.
I do not think you have done your sinkie almighty bullshit yet.
this is a typical sinkie behavior display by tonychat.
narrow minded, know a bit only thought know a lot, self centred and not humble.
others dont give a shit on what you write with your outdated and rookie concept on business and your behavior make you a sinkie.
i only give due respect for people who has a track record and know how things work. but not like tonychat, the sinkie feel so good about RK after watching some youtube and come in boost about RK ideas.
thanks, i am always a master compare to you tonychat the sinkie rookie.
not need compare to the rest of the world, just compare to you. im a master good enough. tonychat the sinkie rookie. lol!!![FONT=宋体]公小儿之见，不足与高士共语！[/FONT][FONT=宋体]请勿复言！[/FONT]</pre>
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You can do exactly that as tax princples are similar. However as the SG rates are one of the lowest, it not very attractive across the board. Still attractive if you are in the creative, consultancy, space and work from home.
can you do what you quote in sg?
I use to work closely with the account girls at the company I work at. Many are very qualified armed with accounting degrees, ACCA certification etc but my impression is that they are more like bean counters & not entrepreneurs. Doubt they would ever understand RK or even read any of his books.
Yes but this sort of information isn't taught to everyone and even when it is taught to select groups, it isn't expressed in a way that inspires someone from a non financial background to take the plunge. In fact, I see many so called "financial advisors" slogging away at salaried jobs.
You cannot pin the blame on RK for the failures. Principles don't provide a magic formula for success. What they do is guide you in the decision making process when you're deciding how you're going to make your money.
Accounting training obviously doesn't work very well when it comes to taking the leap of faith because there are more salaried accountants in the world than you can imagine.
Sg tax rates no fight (more competitive) with many parts western world.
http://en.wikipedia.org/wiki/List_of_countries_by_tax_rates
On partnerships and sole proprietorships, depends on your marginal (last dollar) tax rate.moolightaffairs said:
http://www.rikvin.com/taxation/personal-tax/
On incorporating setups, it's limiting your personal liability (pte ltd). One has to bear in mind salary (remuneration) and perks (benefits-in-kind) are taxable. Balanced against personal "tax breaks" what you put through as business deductible expenses. Not just sam's photo-dos, but also your expensive KTV outings at Tian An Men:p
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i think a lot of us in sammyboy know how it works to enjoy the system.
it is not RK fault for others failure, what im saying is not everyone can achieve what he said.
RK only give ideas but most of us here know how to do it, except tonychat of cos.
accounting knowledge is an assets when you want to beat the system. look what yinyang posted, he is someone with accounting knowledge and yes KTV outings can claim as entertainment. :p
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How come Tony Chat likes to tell others "nobody gives a shit what you write / claim"? Does he really think others give a shit what he writes. A very weird character I have to say. More than a little shorted too.
i'm shorting on tony. he's a great stock to short. :p
How come Tony Chat likes to tell others "nobody gives a shit what you write / claim"? Does he really think others give a shit what he writes. A very weird character I have to say. More than a little shorted too.
that is because i do not gives a shit if other read what i post. BUt it seems like there are many who are lusting after what i post.
i even wish that the whole lot of you put me in your ignore list. but no one seems to do that.
Unlike some sinkie losers here, i am not craving for any attention. I just post here, i never expect anyone to reply to my post. BUt it always has some replies especially from low life sinkie losers who is waiting to be bashed just like they are so addicted to PAP ass screwing.
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i think a lot of us in sammyboy know how it works to enjoy the system.
it is not RK fault for others failure, what im saying is not everyone can achieve what he said.
RK only give ideas but most of us here know how to do it, except tonychat of cos.
accounting knowledge is an assets when you want to beat the system. look what yinyang posted, he is someone with accounting knowledge and yes KTV outings can claim as entertainment. :p
That is because sinkie like you and the rest of the pathetic population only follow rules and can't use their brains to think.
RK gives ideas but they never tell you step 1 to step 10 how it should be done.
And sinkies, like you, loves to follow rules, especially those who follow the PAP rules to let them screw. You are also one of them.
He is the perfect example of a sinkie polluted character. I think he has all the shit in all my point in sinkie character. Check my signature.
here is just a discussion and out come a sinkie who want to show the world he knows a lot. Oh my god. that is the perfect chinky, sinkie polluting character. Any human come near such character will be insulted for being a human being.
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