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Invisiblefriskie
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Registered: 08/15/12
Posts: 10,123
Loc: Florida Flag
Anyone here incorporated?
    #18712479 - 08/16/13 12:14 AM (10 years, 6 months ago)

I'm cfo of an s corp with actual investors and corporate credit.
I'm on the board of a new startup c corp..

Anyone want to talk about creative tax loops?

I've bought some real estate and I was thinking about starting a trust. Help on that would be great.
But I've also been thinking of starting a leasing corporation to acquire ownership of everything and lease me everything I own?

Shit gets pretty deep but why not go deeper?


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Invisiblefriskie
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Registered: 08/15/12
Posts: 10,123
Loc: Florida Flag
Re: Anyone here incorporated? [Re: friskie]
    #18712507 - 08/16/13 12:24 AM (10 years, 6 months ago)

That sounds kinda stupid but I own things I need to be making payments on for tax benefits..

Now I can just write myself loans and keep the interest to push around..


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OfflineShroomhunter510
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Registered: 04/03/12
Posts: 408
Loc: Bahamas
Last seen: 10 years, 1 month
Re: Anyone here incorporated? [Re: friskie]
    #18712528 - 08/16/13 12:30 AM (10 years, 6 months ago)

You sound smart.  Keep up the good work  :psychsplit: :


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Invisiblefriskie
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Loc: Florida Flag
Re: Anyone here incorporated? [Re: Shroomhunter510]
    #18712582 - 08/16/13 12:45 AM (10 years, 6 months ago)

Lol  thank you..  I'm really in over my head though..

The IRS isn't going to cut me any slack for only having an 8th grade education.

Our tax system is way fucked.


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OfflineShroomhunter510
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Registered: 04/03/12
Posts: 408
Loc: Bahamas
Last seen: 10 years, 1 month
Re: Anyone here incorporated? [Re: friskie]
    #18712829 - 08/16/13 02:15 AM (10 years, 6 months ago)

When you go to  target and look at the  logo do you see a boobie ? I do  :jennajameson:  Or do you just see a normal target ?

I'm lucky enough not to have to deal with them IRS bitches . Yet.  If I were you I would possibly offer them a complimentary serving of  : Chockate orange juice & see how much they like it .

There is no sales tax in Florida  , or am I wrong ?

I don't understand the way this tax system  operates , but they certainly need new executives as far as  the IRS 

. It would be nice to see a shroomerite change the name of Walmart to "wal-der_mart- the store thalt not be shopped at . After 9 o'clock . Harry  potter man works with the IRS he's their wizard . Hes  the one with  the lightning for their strike.

Ps I. Real fucking high ha


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InvisibleGilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
Re: Anyone here incorporated? [Re: Shroomhunter510]
    #18713504 - 08/16/13 08:07 AM (10 years, 6 months ago)

Quote:

friskie said:
I'm cfo of an s corp with actual investors and corporate credit.
I'm on the board of a new startup c corp..

Anyone want to talk about creative tax loops?

I've bought some real estate and I was thinking about starting a trust. Help on that would be great.
But I've also been thinking of starting a leasing corporation to acquire ownership of everything and lease me everything I own?

Shit gets pretty deep but why not go deeper?



If you have less than 5 million in assets I would not start a trust. As for taxes just hire a good accountant.


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Invisiblefriskie
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Registered: 08/15/12
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Re: Anyone here incorporated? [Re: Gilgamesh18]
    #18713782 - 08/16/13 09:42 AM (10 years, 6 months ago)

i hired a bookkeeper about 6 months ago so im ready for an new/better accountant this year


so if no trust then what can i do to get these properties out of my name?


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InvisibleGilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
Re: Anyone here incorporated? [Re: friskie]
    #18716759 - 08/16/13 10:40 PM (10 years, 6 months ago)

Quote:

friskie said:
i hired a bookkeeper about 6 months ago so im ready for an new/better accountant this year


so if no trust then what can i do to get these properties out of my name?



Eh man I know you may pay more in taxes but I would just own the properties unless there in totally shitty areas. Leasing shit just to get tax benefits seems foolish if you own the properties you obviously have some financial means. Maybe rent em out for an income stream or sell em if you don't want to handle the taxes on em.


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Offlinech1ck3n.s0up
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Registered: 10/03/08
Posts: 2,573
Loc: Hunting Fungi
Last seen: 2 years, 7 months
Re: Anyone here incorporated? [Re: Gilgamesh18]
    #18721005 - 08/17/13 10:47 PM (10 years, 6 months ago)

If there's a city you've always wanted to visit, combine business with pleasure.

Sign up for a conference, go to some sessions, and get a stack of literature and business cards.

Then the trip is tax-deductible.

Any questions, just show them all the paperwork that you gathered.


--------------------

"Inspiration ~ Move me brightly ~ light the song with sense and color ~ hold away despair ~ more than this I will not ask ~ faced with mysteries dark and vast ~ statements just seem vain at last" --Jerry Garcia, Terrapin Station

"Officer, I'm going to remain silent, and I would like to speak with a lawyer. I'm not resisting, but I don't consent to any searches.


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