Originally Posted by oneupper
You should be doing this. And clearly separating "company" and personal expenses.
Plus putting away money in a company retirement plan (401k, DBP, Simple, etc). You get to put more away that way.
The individual IRAs are only like 5000 a year.
You don't have to go through a corporation to so a business retirement plan. A self employed individual can do basically anything. In fact I believe I've seen him say he has no actual employees which means he can do a Solo 401k plan. (no 5500 due for years - 50k limit)
SEPs and SIMPLEs can also be done but with no employees there isn't a real good reason to do a SIMPLE.