IRS got me for 40K today!

2007 was the first year I paid more in taxes than both of my parents made all year combined. That's when I knew I "made it" but godDAMN did it hurt to see all those numbers (that I owed) at the end of the year. S-Corp + a GOOD accountant, FTW!
 
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wow... i don't make that kind of money in 2 years and you pay them as taxes :D
 
never mind
 
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dude i thinkyou should really change your destination for your living rofl
 
I'm wondering why this thread got the bump? This is old news.. happened during last tax season. I have a LLC now so wont be paying that much this year.
 
CYBERTRON said:
I'm wondering why this thread got the bump? This is old news.. happened during last tax season. I have a LLC now so wont be paying that much this year.
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Sorry about the bump cybertron, I think I followed the link from a more recent thread and didnt look at the age. I didnt rep you either, I dont think I have ever given a neg rep here. Cheers.

Ps nice move with the LLC, add a charitable trust in the mix and take it to another level of savings.
 
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CYBERTRON said:
ewhore till July at LEC legalescortscash which turned into CU cashuniversity. In Sept i went into credit checks with Strongerads who we all know n love! and profitROI. After the crash of profitroi (Martin where are u?) i went to tiger. And I always played with the big CPA guys at Max bounty and Cj. If i can keep myself from getting the Ban.
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Your year sounds so much like my past year that it's insane. In that exact same order too. Except I didn't bank a fraction of a percent of what you did. lol.
 
HAHAHA Sorry, bumpin' old shit.... you're right, that was LAST year. Time fuckin' flies...
 
CYBERTRON said:
I'm wondering why this thread got the bump? This is old news.. happened during last tax season. I have a LLC now so wont be paying that much this year.
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having an LLC doesn't lower your taxes at all...

an LLC only gives you some legal protection
 
Talk to a tax attorney about ways to cut it. Deferred comp and other strategies can save you a bundle.
 
llc+ anon accounts + ghost outsourcer = zero taxes
 
gbmack said:
having an LLC doesn't lower your taxes at all...

an LLC only gives you some legal protection
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evidently you haven't explored the full extent of llc.

i write off my entire rent, give myself a $1500 employee gift per year which is totally deductible, and much more.

and llc does save you money, you just have to know all the perks. Talk to a good tax attorney. Pay them to tell you how to pay the least taxes without going to jail. If they won't, move on to the next one. Aspire to pay almost zero taxes like you do to make money at IM. It is achievable.
 
I said it once and I'll say it again: S-Corp + a GOOD accountant, FTW!

Everyone's situation is different - mine just looks better as an S-Corp. Some people will come out better with an LLC and unless I'm mistaken, some people even do C-Corps.

Whatever your situation is, get an accountant to figure it out. After you've gone through the trouble to make sure you're all legal and still saving money, nothing beats that feeling.

Dr-Steve-Brule-FEELS-GOOD-MAN.jpg
 
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I would check out the new S Corp regulations. There's some changes in there you won't be happy about.

gonzomcribbinz said:
I said it once and I'll say it again: S-Corp + a GOOD accountant, FTW!

Everyone's situation is different - mine just looks better as an S-Corp. Some people will come out better with an LLC and unless I'm mistaken, some people even do C-Corps.

Whatever your situation is, get an accountant to figure it out. After you've gone through the trouble to make sure you're all legal and still saving money, nothing beats that feeling.
Click to expand...
 
drool! i wish i had to pay that much in taxes.. it would mean im doing something right
 
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