|
most likely this guy needs a good accountant and a good lawyer. The only way i can imagine him having that high of a tax liability is if he is an S Corp. If he is an S Corp and he does not disburse all his profits, the corp will get taxed for whatever money they have and he will get individually taxed on the amounts that he recieved as compensation. Easy way to reduce his tax burden is to make sure the coffers are empty at the end of the year.
|