Apparently my corporation is hodling too much cash 😂
And the US government actually has a special tax for such situations 😭🤦🏻♂️
#moMoneyMoProblems
Post by twetch#2022
interested to hear more about this
What the chain says
- Block
- 608 635
- Time
- 2019-11-13T16:19:13Z
- Signer
- 1AKHViYgBGbmxi8qiJkNvoHNeDu9m3MfPE
- App
- twetch
- Type
- reply
- Content type
- text/plain
- Name in tx
- twetch#2022
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1AKHViYgBGbmxi8qiJkNvoHNeDu9m3MfPE VerifiedReplies (3)
It's called Accumulated Earnings Tax
It's a 20% tax levied on C-Corps that have over 250K in retained earnings.
If I don't provide a good enough explanation for why I'm hodling cash over 250K the gov takes 20%.
Gov: Why you got all that money?
Me: Rain day fund...
Gov: Give us back our money
wtf