Message from @UOC

Discord ID: 343137577265790979


2017-08-04 20:54:27 UTC  

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.

2017-08-04 20:54:40 UTC  

But that's probably overkill for what you want.

2017-08-04 20:54:54 UTC  

firms with estate planning practices would probably also have the info you want

2017-08-04 20:58:58 UTC  

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

2017-08-04 20:59:15 UTC  

You would then just pay income taxes on income you are paid from the trust

2017-08-04 20:59:37 UTC  

for which a certain deduction is available, iirc

2017-08-04 21:01:49 UTC  

taxes on capital gains in complex trusts gets into a level of specialization I don't have

2017-08-04 21:03:52 UTC  

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

2017-08-04 21:04:14 UTC  

I see

2017-08-04 21:04:40 UTC  

I do not consider 401gay to be a tax shelter

2017-08-04 21:04:51 UTC  

Are you an actual lawyer @UOC

2017-08-04 21:04:56 UTC  

yes

2017-08-04 21:04:57 UTC  

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

2017-08-04 21:04:57 UTC  

Or just a fag

2017-08-04 21:05:02 UTC  

Oh cool

2017-08-04 21:05:02 UTC  

lawfag

2017-08-04 21:05:21 UTC  

I will take your advice though

2017-08-04 21:05:27 UTC  

just look up tax lawyers from l33t practices

2017-08-04 21:05:51 UTC  

How much money are you playing around with

2017-08-04 21:05:59 UTC  

Out of curiosity

2017-08-04 21:06:13 UTC  

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

2017-08-04 21:07:09 UTC  

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

2017-08-04 21:07:22 UTC  

because it's pre-tax it would lower your effective income

2017-08-04 21:07:58 UTC  

lowering your effective income is the name of the game in tax these days

2017-08-04 21:08:21 UTC  

business write-offs, shelters, etc

2017-08-04 21:12:37 UTC  

@TendieLord He's projecting 6 figures annually from this scheme

2017-08-04 21:12:47 UTC  

1-200 I think he said

2017-08-04 21:13:05 UTC  

worth getting tax advice for sure

2017-08-04 21:13:28 UTC  

What scheme

2017-08-04 21:13:41 UTC  

selling chinese trash to idiots

2017-08-04 21:13:44 UTC  

Is he prostituting himself?

2017-08-04 21:13:48 UTC  

Oh that scheme

2017-08-04 21:13:58 UTC  

Oldest trick in the book

2017-08-04 21:14:10 UTC  

Well, second oldest

2017-08-04 21:14:17 UTC  

After sucking dick

2017-08-04 21:14:21 UTC  

lol

2017-08-04 21:14:33 UTC  

I am going to commission somebody to make shirts for us saying that

2017-08-04 21:15:01 UTC  

Is the Chinese trash you're selling Asian gfs?

2017-08-04 21:15:23 UTC  

no, those at least have some intrinsic value

2017-08-04 21:15:31 UTC  

Shit

2017-08-04 21:15:37 UTC  

you could at least compost those or something