Message from @TendieLord
Discord ID: 343137277368729600
I know some about taxes and how to take advantage of legal tax shelters. I don't know anything about how to evade them without getting caught.
but I can't give you advice because I am not licensed to practice in your state.
basically the question I need answered is.... if I have an LLC or S-corp producing dough, and I want to move it to a trust and invest it in conventional assets, what's the most tax efficient way to go from A to B?
so far everyone says "that's a hard question, you need competent lawyers in that area," but I don't know how to even find them
so maybe you could point me in a direction
would be willing to use ovreseas options and even bitcoin
I would look for highly rated firms in your state that have a tax practice. If you want the best of the best, you're probably talking about firms like Skadden or Orrick or Akin Gump or Alston & Bird or something like that in LA.
But that's probably overkill for what you want.
firms with estate planning practices would probably also have the info you want
my guess is, and this isn't advice, is that they'll tell you to max out tax-sheltered investment vehicles like a 401(k) (which you can sponsor for yourself under a certain self-employment provision or as an LLC) and a "backdoor" IRA
You would then just pay income taxes on income you are paid from the trust
for which a certain deduction is available, iirc
taxes on capital gains in complex trusts gets into a level of specialization I don't have
S-Corp is a good idea since you seem to be funneling everything into long term investments, but you would want to check on how your state treats S-Corps because it varies a lot and some just treat them as regular old C-corps
I see
I do not consider 401gay to be a tax shelter
Are you an actual lawyer @UOC
yes
retirement accounts are no good for me unless they are going to provide me a tax advantage on paying my bills from them at age 31
Or just a fag
lawfag
I will take your advice though
just look up tax lawyers from l33t practices
How much money are you playing around with
Out of curiosity
If you want to pay out of accounts at 31, don't use the common tax sheltered stuff. But depending on what you want to pay for, Roth IRAs have some pretty good provisions for like first time home purchases
But IRAs and 401(k) are still a good idea because they're capped relatively low. You don't really miss out on much by contributing the 21000 total or whatever it is now, and it's a good long term hedge
because it's pre-tax it would lower your effective income
lowering your effective income is the name of the game in tax these days
business write-offs, shelters, etc
@TendieLord He's projecting 6 figures annually from this scheme
1-200 I think he said
worth getting tax advice for sure
What scheme
selling chinese trash to idiots
Is he prostituting himself?
Oh that scheme
Oldest trick in the book
Well, second oldest
After sucking dick