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Player Salary
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Tony Soprano RJ: Tony Soprano CO: Anthony Soprano Post Rating: 0 + / - Total Posts: 30 Karma: 11 Joined: May 22, 2012 |
Posted on Jun 26, 2012 What are the drawbacks of paying your player a salary? Up until recently I have been using all of my money for growth, but now I worry more about not having to pay taxes than keeping money in my company because my goals are more long term now. If you pay your player a salary are there any fees involved? Can I just pay my player a few million in salary everyday until I save up money to start additional companies? I am thinking the only fee would be a possible .05% cash transfer fee. Does the salary you pay count as "Salary Expense" on the Revenue Sheet and reduce your daily income?This is for CO, btw, thanks for any help. |
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David Archer RJ: BallC CO: BallC Post Rating: 0 + / - Total Posts: 142 Karma: 135 Joined: Apr 11, 2012 |
Posted on Jun 26, 2012 Yes, you should pay yourself a salary. It counts as an expense on the revenue sheet and thus reduces your tax bill. You can always transfer it back in at 0.5% if you need it in the company.
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Aaron Barr RJ: Aaron CO: Aaron Post Rating: 0 + / - Total Posts: 81 Karma: 74 Joined: Apr 13, 2012 |
Posted on Jun 26, 2012 additionally what is the criteria for max salary I know I was paying myself 20% of profits on the old server. Now I can only do 5%. Is that just a server limit? or is my company just not large enough to "unlock" a higher salary?
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Cian Kemp RJ: Cian Kemp CO: Cian Kemp Post Rating: 0 + / - Total Posts: 183 Karma: 58 Joined: Apr 9, 2012 |
Posted on Jun 26, 2012 It's a server limit, it was part of the list of changes made to the new server. Reduces capability for tax evasion in private companies and pilfering money out of public companies(once we can make public companies again, that is). It's helpful to get the cash out to start a second company while your first still has a loan that you don't want to pay off. |
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