I am 25 years old, from Ireland, and am looking at getting started investing in the stock market.
I’ve started reading Rich Dad Poor Dad.
One of the main pieces of advice given in this book is that you should set up a corporation to protect your wealth.
The main idea behind this is that you should pay your expenses with pre-tax money.
In other words, you pay your expenses (company car, gym memberships, etc.) first, and then you pay tax on whatever is left over.
Currently, the capital gains tax I would pay is 33%, and corporation tax in Ireland is around 12.5%.
I’m wondering is it a better idea / more tax-efficient to set up a corporation in Ireland, and buy my stocks through that rather than a personal brokerage account?
I understand the tax systems are different in both countries, but I'm just wondering if this makes sense.