I know
I have access to Tax software and very cheap professionals(2-300$)
I just like to do all parts of my self employed business myself so I have nobody to blame for anything.
Lifestyle Post your salary/revenue and how much tax you paid for 2018
- Thread starter kneeblock
- Start date
I have access to Tax software and very cheap professionals(2-300$)
I just like to do all parts of my self employed business myself so I have nobody to blame for anything.
Listen, I don't know what a lot of that shit means but what job are ye gonna do when you have finished studying?
Creepy full time professor if I'm lucky. Part time fluffer/part time online course facilitator if I'm not.
What is your subject of expertise? Per say?
In the early 1990's men used to serenade women by shouting "show us yet tits ya slag!" As they walked past during thier lunch break.
In the 21st century, however, the internet has evolved this into a digital online phrase,
"Hey, u got WhatsApp????"
If you own an LLC you can pay yourself a salary (needs to be fair market) and then some of your money is W2 and some is corporate side. The corporate is tax at a lower rate than your personal income tax, And then both piles of money have moved into lower tax brackets.
Then common expenses for doing business like mileage become deductible when they are just a commute as a W-2.
You can setup your own simple IRA and And since you own the company you can choose to have a retirement matching. Now you have a second retirement account and tax deferment over your normal job.
And then at the end of all of this, there are reduced tax cash distributions you can take from the company.
The entirety of tax system works for people who own companies and real estate. I never knew this until I started making some decent money and then went to a CPA and was flabbergasted at the system.
The average Joe does not get to participate.
You can't do any of this on your phone.
@KneeblockThe best thing you could ever do as a professor, a skill that easily lends itself to online lectures and books and other distributable items, is start a side business doing what you love...simultaneously giving you access to this bizzaro world of tax rules.
I knew it!If you own an LLC you can pay yourself a salary (needs to be fair market) and then some of your money is W2 and some is corporate side. The corporate is tax at a lower rate than your personal income tax, And then both piles of money have moved into lower tax brackets.
Then common expenses for doing business like mileage become deductible when they are just a commute as a W-2.
You can setup your own simple IRA and And since you own the company you can choose to have a retirement matching. Now you have a second retirement account and tax deferment over your normal job.
And then at the end of all of this, there are reduced tax cash distributions you can take from the company.
The entirety of tax system works for people who own companies and real estate. I never knew this until I started making some decent money and then went to a CPA and was flabbergasted at the system.
The average Joe does not get to participate.
You can't do any of this on your phone.
The best thing you could ever do as a professor, a skill that easily lends itself to online lectures and books and other distributable items, is start a side business doing what you love...simultaneously giving you access to this bizzaro world of tax rules.
Terrorist!!
But for real... About 180. Which means that the last part of that fell into one of the spots that got hit harder under the current plan and pretty much all of my deductions were eliminated.
M
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M
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Disregard previous post
M
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YeaIf you own an LLC you can pay yourself a salary (needs to be fair market) and then some of your money is W2 and some is corporate side. The corporate is tax at a lower rate than your personal income tax, And then both piles of money have moved into lower tax brackets.
Then common expenses for doing business like mileage become deductible when they are just a commute as a W-2.
You can setup your own simple IRA and And since you own the company you can choose to have a retirement matching. Now you have a second retirement account and tax deferment over your normal job.
And then at the end of all of this, there are reduced tax cash distributions you can take from the company.
The entirety of tax system works for people who own companies and real estate. I never knew this until I started making some decent money and then went to a CPA and was flabbergasted at the system.
The average Joe does not get to participate.
You can't do any of this on your phone.
The best thing you could ever do as a professor, a skill that easily lends itself to online lectures and books and other distributable items, is start a side business doing what you love...simultaneously giving you access to this bizzaro world of tax rules.
@Kneeblock, be like your hero, J.B. Peterson!
MmmmmmYea
I doubt he's a fan of JB. Lol
M
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Easy Splinty Gekko. Professin the good word is what I love.If you own an LLC you can pay yourself a salary (needs to be fair market) and then some of your money is W2 and some is corporate side. The corporate is tax at a lower rate than your personal income tax, And then both piles of money have moved into lower tax brackets.
Then common expenses for doing business like mileage become deductible when they are just a commute as a W-2.
You can setup your own simple IRA and And since you own the company you can choose to have a retirement matching. Now you have a second retirement account and tax deferment over your normal job.
And then at the end of all of this, there are reduced tax cash distributions you can take from the company.
The entirety of tax system works for people who own companies and real estate. I never knew this until I started making some decent money and then went to a CPA and was flabbergasted at the system.
The average Joe does not get to participate.
You can't do any of this on your phone.
The best thing you could ever do as a professor, a skill that easily lends itself to online lectures and books and other distributable items, is start a side business doing what you love...simultaneously giving you access to this bizzaro world of tax rules.
Just a long time working stiff like plenty other yachtless saps on the board. Be careful. We might unite.
M
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My parents were both immigrants and I was raised in a gold mining town in the Canadian sub Arctic in poverty.
Lift yo selfs up!
M
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In the winter, in the subarctic, it’s more like a nightmare.
Also here is a song that you will love:
View: https://m.youtube.com/watch?v=zo_S13SYeZw
You communist