Let's say you set up an LLC or some other entity to trade through. Are you stuck having to trade with that entity for all time? The reason I'm asking is I want to get my retirement going, but after a couple of years I'm not going to need to contribute as much as I'm going to right now. And I don't want to be stuck paying upwards of 15% self employment taxes for the next 10-20 years.
INCORPORATE IN NEVADA WITH AN LLC, THEN CREATE AN S- CORP AND A IRREVOCABLE TRUST. WHEN YOU OPEN THE ACCOUNT JUST DO IT IN THE LLC. WHEN TAX TIME COME AROUND YOUR S-CORP IS THE MANAGER OF THE LLC SO IT GETS 50% OF ALL PROFITS. WHICH IF SAY FOR ARGUMENTS SAKE YOU MAKE $100,000 YOUR LLC ONLY MAKES $50,000 AND THE S-CORP MAKES $50,000. NOW WITH THIS YOU CUT YOUR TAX BILL BECAUSE YOU TOOK $100,000 WHICH YOU WOULD BE TAXED OUT THE ASS AND CUT IT INTO THE LOWEST TAX BRACKIET FOR CORPORATIONS AND PLUS YOU PUT ALL YOUR TRADING EXPENSES AGAINST YOUR PROFITS AND YOU CUT YOUR TAX BILL TO $7500 INSTEAD OF $15,000 PLUS THE WRITE OFFS AND MAN YOU ARE LIVING HAPPY TO THE FACT THAT YOUR ASSHOLE DOESN'T HURT FROM BEING RAMMED BY THE BIG TAX DICK AND ITS ALL LEGAL. THE REASON FOR A INCORPORATING IN NEVADA IS TWO REASONS 1. THEY NEVER PIERCE THE CORPORATE VEIL, THEY HAVE DONE IT LIKE 10 TIMES IN THE 100 YEARS THAT THIS STATE HAS BEEN A STATE. WHICH MEANS NOBODY CAN NEVER SUE YOU FOR BEING PART OF THE COMPANY AS THE OWNER. AND ALSO YOU CAN CHANGE WHO EVER IS THE OWNERS SHAREHOLDERS AND OFFICERS WITHOUT NOTIFYING THE STATE. 2. THIS STATE HAS NO CORPORATE OR INDIVIDUAL INCOME TAXES AND DOESN'T SHARE INFO WITH THE IRS. NOW THE TRUST IWAS TALKING ABOUT EARLIER BECOMES THE FINAL SHAREHOLDER NOT YOU, BECAUSE IN THE END YOU CAN'T SUE A PIECE OF PAPER WHICH IS WHAT A TRUST IS. aND WHEN EVER YOU WANT ANY MONEY FROM YOUR VENTURES THROUGH THE COMPANIES YOU JUST MAKE OUT A LOAN WITH PAYMENT PLANS LIKE IF YOU DO A FOR THE COMPANY OR STAY WITH THE COMPANIE FOR B AMOUNT OF TIME THE DEBT IS FORGIVEN. AGAIN ASK YOUR ACCOUNTANT WHAT HE THINKS AND LET ME KNOW.
Are there any advantages to this structure if you are not a NV resident? Do you write off expenses on both entities or just the s-corp?
YOU DON'T HAVE TO LIVE IN NV TO REAP ITS REWARDS, ALSO YOU PUT CERTAIN EXPENSES UNDER THE S-CORP, LIKE INSURANCE AND OTHER BIG ITEMS YOU WOULD GENERALLY USE IN A BUSINESS. LLC'S ARE GREAT BECAUSE THERE ARE SO MANY WRITE OFFS THAT YOU CAN TAKE OFF, LLC'S ARE GENERALLY INVESTMENT VEHICLES, FOR INSTANCE IF YOU WERE GOING TO BUY BUILDINGS OR LAND YOU WOULD USUALLY PUT THEM UNDER AN LLC BECAUSE IT CAN ONLY BE LIABLE FOR i THINK 300-500,000. WHICH MEANS SINCE YOU KEEP NOTHING IN THE LLC THEY CAN'T GET ANYTHING FROM YOU. IF YOU REALLY WANT TO GET COMPLICATED AND THROW EVERYONE OFF YOU CAN SET UP AN IBC IN LETS SAY NEVIS WHICH IS THEN CONTROLLED BY A TRUST IN THE ISLE OF MAN OR GUERNSEY AND THEN HAVE A NUMBERED ACCT IN LIECHTINSTEIN. AND PUT EVERYTHING YOU OWNED AND ALL FUTURE INVESTMENTS INTO THIS. YOU WOULD BASICALLY AVOID ALL TAXES ALL LIABILITY AND WOULD BE LAWSUIT PROOF AND THE ONLY THING THE IRS CAN DO IS HASSLE YOU BUT WITH NO COOPERATION FROM ANY OF THE FOREMENTIONED PLACES THEY WOULD STUCK WITH THERE DICK IN THERE HANDS.