Who Here Is Earning $50K/Month or More? Let’s Talk Strateg

[cyke69sg]

I think you are saying something else now. You mentioned previously there is no barrier of entry for IT which is not.

Yes cos I thought there is no barrier of entry for IT. But you said that there is barrier.

Like all jobs there are different skill level and depending on economy cycle and sector. They command differently in terms of salary.

Of course there is different skill levels and different levels of salary.
One has to strive to get to the areas where their skills are well valued and remunerated.

 

[hardwriter]

Really? Hmmm
@homer123 this is contrary to what you have been seeing online

really? @AuraKUPO bro you are rare
@dereth bro you are LEGENDARY!


What you mean by that? How does the ponzi scheme work?

Edmwers are crouching tigers hidden dragons...

My real life I never seen such people.

Thats why I come edmw to meet such crouching tigers hidden dragons.

High income earners from their jobs more realistic.

 

[cyke69sg]

Edmwers are crouching tigers hidden dragons...

My real life I never seen such people.

Real life.......
Real life usually people won't talk about their investments.

Thats why I come edmw to meet such crouching tigers hidden dragons.

High income earners from their jobs more realistic.

Yes it is more realistic.

Bro, do you make 50k or more per month with job/active income? Any tips to share?

 

[Lifeinmotion]

The people I know who are well off are not earning "50k" a month. On paper they earn few K a month for those biz.. They own businesses which covers their expense - air fare , car, house , dining, etc.

 

[hardwriter]

Real life.......
Real life usually people won't talk about their investments.

Yes it is more realistic.

Bro, do you make 50k or more per month with job/active income? Any tips to share?

I mostly hang around with C suite people. Dont guess where I am.

Most of the portfolio gains come from property, not from stocks or equities (bleed like siao).

 

[AuraKUPO]

Really? Hmmm
@homer123 this is contrary to what you have been seeing online

really? @AuraKUPO bro you are rare
@dereth bro you are LEGENDARY!


What you mean by that? How does the ponzi scheme work?

This thread is earn $50,000 a month. I day trade for $500 a month can live in Thailand already

 

[cyke69sg]

The people I know who are well off are not earning "50k" a month. On paper they earn few K a month for those biz.. They own businesses which covers their expense - air fare , car, house , dining, etc.

Ah I see. Declare lower personal income so pay less personal income tax?

Then is their business/corporation which is earning.

I am same. I only pay myself $120-$150k a year for my personal income either as salary or dividends declared by my corporation.

But I still consider the money I bring in monthly and annually through my active income as how much I earn overall.

I don't count the passive income I get through my retirement registered accounts, personal non registered accounts and corporate investing accounts. That one is passive income - different.

 

[cyke69sg]

I mostly hang around with C suite people. Dont guess where I am.

Most of the portfolio gains come from property, not from stocks or equities (bleed like siao).

wow so you do! Congrats bro!

Property has gone up a lot in Oz. Read about it. Congrats on that too bro!

Life is good!

 

[cyke69sg]

This thread is earn $50,000 a month. I day trade for $500 a month can live in Thailand already

I don't believe you make so little only. You modest lah bro.

 

[hardwriter]

wow so you do! Congrats bro!

Property has gone up a lot in Oz. Read about it. Congrats on that too bro!

Life is good!

No i don't. I am very poor, no joke.

For discussion purposes, referring to more in Singapore

 

[Lifeinmotion]

Ah I see. Declare lower personal income so pay less personal income tax?

Then is their business/corporation which is earning.

I am same. I only pay myself $120-$150k a year for my personal income either as salary or dividends declared by my corporation.

But I still consider the money I bring in monthly and annually through my active income as how much I earn overall.

I don't count the passive income I get through my retirement registered accounts, personal non registered accounts and corporate investing accounts. That one is passive income - different.

Lowering income is a simple way for only very small biz but what will be the ultimate goal for them? It also depends on the incentives/law jurisdiction. Most personal expenses can be covered by business (or multiple business - because tax incentives apply to some business) Doing business in the best way to shift "personal" expenses legitimately - not shell companies.

Having a good tax/accountant will help a long way.

 

[cyke69sg]

Lowering income is a simple way for only very small biz but what will be the ultimate goal for them? It also depends on the incentives/law jurisdiction. Most personal expenses can be covered by business (or multiple business - because tax incentives apply to some business) Doing business in the best way to shift "personal" expenses legitimately - not shell companies.

Canada laws quite clear. Personal expense is separate from business. Although some lines can be blurred cos it is hard to prove exactly. Eg buying laptops computers and monitors. But dining there needs to be a meeting. Record who the meeting was with etc. Car expenses only claim mileage for work related travels. Again must record go where for what. Travel to usual main place of work is not considered claimable.

Having a good tax/accountant will help a long way.

Yes I work closely with my accountant for tax planning. I have a good grasp of tax rules for personal and corporate.

 

[cyke69sg]

No i don't. I am very poor, no joke.

For discussion purposes, referring to more in Singapore

I think many crouching Tiger and hidden Dragon in EDMW is pretend to be poor also.

 

[homer123]

You best. Get paid to invest your own money. And then still get the money from the investments.
Another person I envy very much. Although I dunno exactly how much you making.

I can't predict how the stock market will perform tomorrow.. Even though my liquid net worth is increasing >50k every month so far for 2025, I can't say that is what I have made. Only my active income is fixed and dividend income is about 10% fluctuation

 

[cyke69sg]

I can't predict how the stock market will perform tomorrow.. Even though my liquid net worth is increasing >50k every month so far for 2025, I can't say that is what I have made. Only my active income is fixed and dividend income is about 10% fluctuation

Sounds good enough to me! Congrats bro! Hope the market keeps rising

 

[Lifeinmotion]

Canada laws quite clear. Personal expense is separate from business. Although some lines can be blurred cos it is hard to prove exactly. Eg buying laptops computers and monitors. But dining there needs to be a meeting. Record who the meeting was with etc. Car expenses only claim mileage for work related travels. Again must record go where for what. Travel to usual main place of work is not considered claimable.


Yes I work closely with my accountant for tax planning. I have a good grasp of tax rules for personal and corporate.

Very similar. Capital expenditure . Computers are 1 or 3 year write off. Dining is not so easy to detect. Unless a very large amount. But the occasional ones even for personal with friends can be claimed easily. It depends where (the company ) they want to write off that expenses to.

For illustration, simplified and not saying people are doing this. Private and non listed.
A - main company (F&B consultancy )
B - consultancy company that provides services to A and C.
C - other company that provides services to A & B


A own by owner/spouse
B owned by owner/spouse
C owned by family related

Companies cannot be setup to evade tax but some people do it for making different business line cleaner and bubble up their dividends and legitimate reasons.

Depending on the profit of the companies. They can structure the salary to a low personal income tax for husband / spouse and keep dividends "tax free" after corporate tax. "Splitting" the company income, reducing the profit by claiming entertainment or "personal" expenses to reduce tax further. E.g working on a consultancy together at night and dinner is all paid daily for a month. As long you can justify it. Daily coffee supplies. Anything one would spend daily can be shifted to a company quite easily. Usually they have 1 or 2 low paying staffs. Each company buy one car under company expense.

Fly down to meet supplier in vietnam.

Mooncake festivals gifts to client (but actually to your relatives)?

 

[cyke69sg]

Very similar. Capital expenditure . Computers are 1 or 3 year write off. Dining is not so easy to detect. Unless a very large amount. But the occasional ones even for personal with friends can be claimed easily. It depends where (the company ) they want to write off that expenses to.

For illustration, simplified and not saying people are doing this. Private and non listed.
A - main company (F&B consultancy )
B - consultancy company that provides services to A and C.
C - other company that provides services to A & B


A own by owner/spouse
B owned by owner/spouse
C owned by family related

Companies cannot be setup to evade tax but some people do it for making different business line cleaner and bubble up their dividends and legitimate reasons.

Depending on the profit of the companies. They can structure the salary to a low personal income tax for husband / spouse and keep dividends "tax free" after corporate tax. "Splitting" the company income, reducing the profit by claiming entertainment or "personal" expenses to reduce tax further. E.g working on a consultancy together at night and dinner is all paid daily for a month. As long you can justify it. Daily coffee supplies. Anything one would spend daily can be shifted to a company quite easily. Usually they have 1 or 2 low paying staffs. Each company buy one car under company expense.

Fly down to meet supplier in vietnam.

Mooncake festivals gifts to client (but actually to your relatives)?

I prefer not to risk an audit. My accountant also don't advise pushing it.
As it is I am happy to pay the lower taxes through the corporation than personal. Good enough. I don't eat out that often. And only weekends. You sound like an accountant or competent book keeper with your own business.
I won't elaborate too much but my corp is a bit different from typical business. So not all the usual ways would apply. I do buy Xmas gifts for staff.

 

[Lifeinmotion]

I prefer not to risk an audit. My accountant also don't advise pushing it.
As it is I am happy to pay the lower taxes through the corporation than personal. Good enough. I don't eat out that often. And only weekends. You sound like an accountant or competent book keeper with your own business.
I won't elaborate too much but my corp is a bit different from typical business. So not all the usual ways would apply. I do buy Xmas gifts for staff.

I'm not an accountant by any means. It's just part of the business. Nothing illegal , again as I mentioned (but maybe I gave a bad example) do it legally.

Once one began some success in their business and start to make quite a chunk of money from their business. They start to think how to reduce tax (and projection of funds) And if one was to pay tax - might as well reduce it by expending or investing it. Or give back to your staffs.

 

[cyke69sg]

I'm not an accountant by any means. It's just part of the business. Nothing illegal , again as I mentioned (but maybe I gave a bad example) do it legally.

Yes do it legally.
Personally I prefer to spend more time to increase revenue rather than thinking how to spend and expense it to save on taxes. Just my preference. If really is a business expense I am good with spending. Otherwise better not to spend.

Once one began some success in their business and start to make quite a chunk of money from their business. They start to think how to reduce tax (and projection of funds) And if one was to pay tax - might as well reduce it by expending or investing it. Or give back to your staffs.

Again I don't find spending or expending more as a way to reduce tax a sensible approach. Expending more means money spent. On what?
Increase revenue pay the corporate taxes. It is not 100% tax.
Yes invest the corporate funds is what I do. 50% of capital gains is tax free.
I do track so that I can work ways around the $500k small business deduction limit with the adjusted aggregate investment income.

 

[Lifeinmotion]

Well the devil is in the details.

I do agree that we should look at increasing revenue but reducing tax is on the other side of strategy. Capital can be used for many things.

Just on another note. I do know of someone who has over 10 companies (of the same similar type) and has a single "service" company to serve these companies as part of the in-house services. The 10 companies basically "fight" among each other to get their own client and also is there for non-compete clause. As client A insist that if company A is doing their work, they are not allowed to take on job from client B. So client B can be served be Company B, etc.