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Divorcing and IM Business Help

Discussion in 'Business & Tax Advice' started by mikey9991, Feb 2, 2012.

  1. mikey9991

    mikey9991 Regular Member

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    Occupation:
    Marketing Consultant
    Location:
    Heavenly
    The divorce:

    I left her (she had psych problems) and I have been separated for 1.5 years now (married 14yrs - two great kids) and the divorce is almost over. I'm not getting much money since the child support and allimony is eating up my salary (not online marketing). I'm broke and need to work overtime just to buy what I want. Not in dire straight right now since OT is available but I have enough to by stuff such as envelopes / material to send out / pay outsources if needed. Also, did I mention that I will be filing personal bankruptcy too. I owe too fucking much since the wife was spending money while I worked my ass off (she did not work and still not working).

    The business:

    I've been researching and started bunch of stuff one year ago in anticipation of starting an offline / IM business which I now am starting to jump start mostly by using Snail mail / email to prospective clients. On my first try , I went walking and handed about 20 flyers to several shop to sell my services (1.5 hours of walk). I hook one up. I know that my biz will take off with persistance. I have this 11 month plan to move out to a more decent place other than the cold garage that I'm living now (one room, bathroom,kitchenette). I have to make it or else I will be living in that garage for a long time. No fucking choice I don't want that! I am also recruiting my friend who is extremely friendly, trustworthy, good looking, has a good smile, and can talk. He is a pussy magnet for sure. I thought he'd be a good salesperson. I will be giving him 50% of the commission with one of the service which will be a total of $600. No worries since the service that he will be selling for me will be a foot in the door for me so that I can upsell other services when they trust me more. Besides, if he doesn't sell for me, that is a loss of $600 for me!!!

    Advice:
    Any relating to divorce and bankruptcy. I will be consulting a lawyer this week or next week.

    I live in California and my former lawyer (what a deucebag / got me more in trouble than he helped/ I will have to write a bad review about him soon) said that whatever extra I make, the soon to be ex-wife will have to get 25% of it. Which really suck since I don't want to do that. SHE DOESN"T WORK and she will milk it too.

    Regarding the Business:
    I don't want her to know how much money I will be making or give her 25% of the money.... How to hide that from her? Ideas?

    ANy other advice will be greatful.

    Thanks,
    Mike
     
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  2. volund

    volund Senior Member

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    Sorry dude been there done that and have the mental scars to prove it. Been years and I still wake up some mornings wondering what the hell I was thinking.

    Corporations are people too according to the Supreme Court

    While you really need to talk to another lawyer to make sure all your bases are covered but I would think that if everything was incorporated then you could just pay yourself a small salary. Talk to a lawyer though, it is not like you are the only guy to have this problem so I am sure there is a solution out there.
     
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  3. the_demon

    the_demon Jr. Executive VIP

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    As mentioned above you should keep the money in a business and only pay yourself a small salary. File bankruptcy and give her nothing! (you're "broke")...

    Stay committed to your business and work on building it up.
     
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  4. IMchick

    IMchick Newbie

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    Hi Mike, good luck. It is tough but you need structure and persistence. Think of your kids, think smart when you set up a company. Visit this forum. Don't give up!
     
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  5. mattbowden

    mattbowden Regular Member

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    sorry to hear, been there brought the t-shirt still get the credit card bills to prove it every month maybe bankruptcy is still the only way ahead for me.
     
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  6. blackhataffiliate

    blackhataffiliate Senior Member

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    Sounds like your doing a lot of offline, so try to get cash payments from some of the businesses (maybe offer a discount for cash payments).

    I have heard (from a friend going through the same in another state) that divorce cant touch an out of state business (even in your name), so why not open an llc based out of a state with no income tax and then pay yourself a small salary from the non-cash payments.
     
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  7. Cnotey

    Cnotey Power Member

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    I love my crazy insane bitch of a wife. Without her extreme mental problems and bi-polar disorder, life would be so boring at home.

    Next time you are about to leave someone saying to yourself "fuck she is crazy" just remember, it's interesting and fun. Keeps you on your toes.
     
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  8. bluenose10

    bluenose10 Junior Member

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    Good luck bro, similar situation here but atleast i have my 9 year old daughter with me so i chase my x bitch for child support money i get £5 pounds a week what a joke.

    Seriously tho i opened a similar thread to yours 4 months a go on here when things were getting me down and the guys on here kept me going with their helpfull posts.

    Goodluck Bro.
     
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  9. huser21

    huser21 Regular Member

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    Been exactly where you are right now friend. Divorced for 6 yrs now after 11 yrs of marriage also w/ 2 great kids and an ex who has a bipolar disorder. Serious.
    I can give you a TON of advice and things to look for as far as your decree,child support,cost of living increases, future increases in your income,bankruptcy, getting paid cash, trying to hide money, etc. Too much to list, because unfortunately I married that woman your dad told you to stay away from.
    I wouldnt mind helping you in anyway I can. You can PM me, Skype me or even call. I dont mind. This shit SUCKS and Ill help if I can.
     
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  10. volund

    volund Senior Member

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    Pretty sure he is going to need a regular corp and not a sub S or LLC as the income those flow right into your personal tax returns and you need to make sure that the income is completely separate.

    Always talk to a lawyer though before doing anything.


    Seems like a lot of us have been down the same path.
     
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  11. phatzilla

    phatzilla Supreme Member

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    just make sure she doesnt use your kids as weapons against you.
     
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  12. assphuck

    assphuck Senior Member

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    You have what is called swinging dick syndrome. Many men have had this problem. No matter what you do, when getting divorced, you are screwed if you are the man.

    Have you been "legally separated" for 1.5 years or just split up? Laws by state vary, but any new ventures you start when legally separated or divorced she is not entitled to. However, child support could be adjusted to reflect your increased income.

    If I were you, I would become a silent partner and run everything under someone elses name. Even if you own a S Corp, C Corp, etc., you still have shares in the company and courts would treat those as assets. The only way to save your money is to go under the radar.

    Good luck.
     
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  13. oxonbeef

    oxonbeef BANNED BANNED

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    Women? can't live with them, can't kill them!
     
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  14. AdisLCS

    AdisLCS Power Member

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    I don't know your exact circumstances and don't want to. On some level I can relate in working my ass off only to have a bi-polar wife spend it, work from a cold garage, wanting to "hide" shit from her. But at the end of the day I have balls to stick around for the kids sake. And my wife sake too. I am not gonna be a dick and let her or the kids hang. No matter all the shit she did, she did a lot of good things too which I will not forget. I also get sometimes angry for my wife "not working" but it sure as hell ain't easy what she does neither and should be appreciated.

    And besides - Taking a ride on her roller coaster can be exciting as Cnotey said.

    I still might not show her all the money but I am not gonna let her or the kids go hungry. Yeah she might be crazy so fucking what, I am sure you (just like me) are not perfect neither. And drop that "I want to make shit load of money but not give it to my non deserving wife / blood" , maybe you are the not deserving one.

    and sorry I have no advise on divorce lawyers, but I know good civil guy in SJ.

    now enough with the Dr. Phil show bullshit and be a fucking man.
     
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    Last edited: Feb 4, 2012
  15. mikey9991

    mikey9991 Regular Member

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    Thanks for the advice. I can't really say much other than I'm staying silent ;) for a year then if everything goes well, I have to start applying for a LLC or incorporated type. I'll have to find that out when the time comes.

    I started out with B2B offline so they will not want to pay me cash for tax break. Besides, they'll want a receipt.

    @AdisLcs
    As far as being a man, I'm paying her child/alimony $4500 a month. I don't mind paying the crazy bitch since I'm really happy camper but I have to have some pocket money to live on and cash for fun money.


    Basically, I came on here so find out if I can hide whatever else I'll might be making since I don't want to pay her anymore than she deserve. 1.5 years separated and she still doesn't have a job. She is highly educated. I wasn't a slug father either, I did my part. 14 years of marriage and I didn't have much time off since I was with my kids and she was so much of ball and chain. Lousy wife but was ONLY good in bed. If you were married to a bipolar / personality disorder, you'd know what I'm talking about.


    The company is not fully ligit yet.
    I spoke to my former lawyer who stated that 25% of whatever I make will have to be hers.
    I live in California where everything is 50/50.

    Hiding/preventing her from getting more:
    cash
    incorporate the business if that works
    running silent


    Thanks for the advice so far.
     
  16. ZakBR

    ZakBR Registered Member

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    Hi Mikey,

    There are many options to do this. Being silent is good although in the US (I live outside) almost each operation is traceable inside your state, if her lawyer is good enough (or is being well paid).

    The problem of not hiding properly is that if she finds our and her attorney can prove it, you may answer for hiding the assets/values too. I'm not sure how you call that in the US but I had a client that had that problem and the fines are kind of... Huge.

    Not trying to scare you at all - you just need to make sure that:

    1. If your business is small, try to work with cash and non binding receipts. If you can get your friend to provide those receipts, that's even better.

    2. Forget LLC for now and forget corporations: Depending on your estate/niche, taxes will eat you up. One thing is to receive money and forget to mention it to the I - R S . Another thing is having a company that did not declare it. Having a company and getting a wage (plus a bit outside cash) from it will do no good as depending on how good her lawyer is, he can come up with a lawsuit for a full checkup in your company if he can prove you are making more than what you are really withdrawing. Trying it in another state will only delay it a bit. And forget about buying anything that is considered to be a solid asset such as a car/house.

    3. If your business has grown and you need a company to build your rep with your clients, make sure you have someone (which could be your friend) as a frontman and sign a personal MOI/NDA/PC with him so that you have the option to buy back his shares. Make sure that the capital in the companys contract is low.

    4. Go Offshore: Can you really go offshore with only a few bucks? Why would you? 'Sure is...'. Take a look on Austria. Thats the safest country in the world to keep your money in. Forget Switzerland, you will find out why when you google it. You don't want a personal account but a number account in which you don't even have your name on it. Justify that by investing into a real estate fund or any othe funds that will finish their operations at any time soon. Your bank manager in Austria will tell you how to do it. Oh and an account can cost as low as 5 euros a month to protect you.

    Thats just the first steps, there are many different ways to do it. I'm avaliable on skype should you want to talk more about it. Pm me your contact if you wish.

    Have in mind that lawyers make money in 2 ways: upfront charges of each action + fees according to what is done. Gotta make sure he has nothing to hit by moving it slowly outside.

    Goodluck!
     
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  17. AdisLCS

    AdisLCS Power Member

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    Mikey9991,

    child support /alimony are determined according to wages. I know that laws are not on our side and seem/are unfair.

    Sure fire way to stop alimony is to get her remarried, get herto take on job. I know those can be very hard to do.

    In regards to "hiding" mo ney it would be very difficult as long your name pops up. I mean anywhere. Even forming a NV, LLC without you as a board member would be dificult. Besides, this sort of issues might not be best suited for a open forum due to possible implications. This is not to say there are no ways around it.

    PS: I did not mean to be a dick, I AM married to a bi-polar wife, I am familiar with some legal aspects, I am probably just few blocks away from you.

    good luck mate
     
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  18. bitencrypt

    bitencrypt BANNED BANNED

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    Maybe, Liquid Assets
     
  19. partymarty4870

    partymarty4870 Elite Member

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    Can't help with advice as I'm an aussie, but I can say I feel for you. Good luck mate.
     
  20. olystyle

    olystyle Regular Member

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    Maybe an (offshore) Company would help you a great deal... found a company together with that friend of yours whom you mentioned above - and make sure that he is the "true" owner who "kindly" hired you as an expert. First of all your company kicks ass - the moment your company heard that you are living in a garage the CEO (your pussy magnet friend) decided to help you out of the following reasons: "What?! our exper is living in garage?!! What if a customers pays him a visit?! Move that man at once in proper facility!!! I want the bill for his appartment on my desk by tommorow!" - let the company cover for your expenses (appartment, car, insurance,...) as for food: from what i've heard everytime you eat you are with customers or on duty - pay with the company credit card. Do you catch my drift?

    cheers olystyle
     
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