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Old 04-15-2024, 06:49 AM
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abbott abbott is offline
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Default Taxes in the USA

Im still learning some hard lessons and as I get older I am becoming old and bitter, yet I am also become more patient and love being with family more than ever.

Now to my hard lesson: For better or worse I work for myself and have about 16 employees, 13 of which have been with me over 3 years and I think we have a good thing going.

This year when I got my K1 tax form it looks like I made a lot of money. I technically paid myself about $50,000 last year and spent the rest on the business.

Here is my point, once I got my tax bill showing that I owe over $100k, I could not help but ask, how is this? I earned $50K in my opinion and thatís it. So I called an attorney and high level CPA and they explained if I created 4 different LLCs and make the money flow in a different way with a few different bank accounts I would then be able to save over 60% on my taxes. I just wish I could work and pay my fair share. Instead, I have to hire attorneys and CPAS so I donít send as much money to the IRS. There is a local city commissioner that will help me save tax dollars for a fee, he explained he helped create the tax language so he can work it great for a fee.

SO, if you have high taxes, you can work the system that is built by our tax paid officials, you can save a lot of money and I think this concept is bull shit, but I have 2 CPAs and an attorney building what I call the low tax game. I will probably spend my tax savings this year on the attorneys but will be set for upcoming years, I hope.



earl@fuckyoumyman.com

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  #2  
Old 04-23-2024, 09:43 PM
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abbott abbott is offline
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Default Re: Taxes in the USA

i want to to say that the other guy was right. yet i was right too.

and then we were all right



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  #3  
Old 05-28-2024, 06:42 AM
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abbott abbott is offline
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Default Re: Taxes in the USA

so in my specialized field of work, in the beginning, hiring a well known long time CPA did not pay off for me at all.

it is very important for people that run their own business you find the 1 of 4 people who actually know the law, are an attorney and have worked for the IRS.

The good news, if your willing to seek out the best, pay in my case $10K ask a retainer to start, ,then you can save over 45% on the taxes you pay.

It is very unfortunate for those who don't find the few experts and in my case was not invited to work with these experts until I had a 3 year track record to get the open door. I have seen several start and get buried in taxes be forced to quit without ever knowing they paid more than they should.

Let the tax payer be ware. It is not our tax paid officials job to help you figure this out.



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