If you are renting out a residential building, you should not be able to collect more than your expenses while paying it off. If you own the building and rent it out, you must pay equity in the building to tenants.
>>534879744To ignore the OP and to only address the image. The solution is to start a corporation and to live through that to avoid the tax issue.
>>534879744Ok, but people who shit on the walls should get the death penalty right
>>534879744>blah blah blah blah I'm a commie faggot I thought Marxism was the way to go when I was 17 too. But then I grew up.
>>534879744We want corporations to employ people and build stuff, this is how we incentivize that.
>>534879744This is why the wealthy are wealthy. They incorporate. They don't pay income tax because they have little to no "Personal Income."
>>534879744The pic counter is literally the standard deductionShit tier thread
>>534880044This. Tons of people do the same. “123 Elm St, LLC” or even just “Co” would be sufficient for most households. Using this business (or any company you own anywhere) you can also register vehicles that the biz itself owns, or continue using your personal vehicle and ofc charging mileage to your business at the standard federal rate($0.49/mi?) or an agreed upon rate. Yeah you’ll be generating documents and signing agreements between yourself and your business, but it’s all above board. Or, it can be. Needless to say anyone starting a business will need to start at least two, three for proper “management of risk”. But don’t get to autistic about it, they’ll start calling it “structured deposits” and what have you, tax evasion and income obfuscation. So be reasonable and stay within the defined lines.
>>534880779ThisIf you don't like it, do what corporations do. You're allowed to deduct your living expenses but you have to itemize everything and it's not worth it. The standard deduction usually covers what you'd pay for housing and extra
>>534880887Shared vehicles you'll have to document distance driven for personal use and business use and can only deduct for business portion
>>534879744Pipe dream, commie nigger, nobody cares about your gay wishes.
>>534880263Indeed, you treat your homestead business as a trust, allowing your earnings to be used for their intended purpose, the paying of bills and accruing generational wealth. Your company issues you a small paycheck biweekly for petty expenses, personal interests. If your personal interests become to much to handle via petty cash, time to declare “The Hobby Co” and be done with it.
>>534880978Exactly why I mentioned it. For the activities in my life, it is not a stretch for me to say that every single mile I’ve added to the odometer, I was on the clock and in active pursuit of “business” ie household interests. If you do alot of hanging out I guess you could call that “public outreach” or “marketing” but you’ll have to tailor it to your unique needs and situation.
>>534880906>standard deduction usually covers what you'd pay for housing and extraWatWhere are you living? 1967?
>>534880906In this society, most are victims. The only way to make yourself less of a victim is to play the game, for yourself and the interests of your household/family rather than for the interests of others.
>>534879744Remove all taxes on private people and only tax companies and you’d see a bloom like never before, but that would require a government that wouldn’t blow the money on frivolities, so they’ll always need goys to pay up
>>534880044> Just do tax evasion broIRS will bust down your door for this. Big corporations can get away with it because they have an army of CPAs that handle all the legal loopholes. What you’re describing is legitimately illegal
>>534879744Then expense your shit and submit receipts, dumbass.
>>534880218Same. I work 60 hours a week cause I choose to.
>>534881530No nigger anyone can create a S Corp for $20 with your local state secretary of business. It's called playing the game. Go to a legit CPA and ask but the sooner you start it up and get the fees you can benefit from it in the long run. But not if you're a rentie there is no justice for rentniggers.
>>534881530calm down idiot it's not illegal. You can only write off deductions against actual taxes owed, so if your business doesn't make any money you aren't deducting shit and the IRS will only let you try for so many years (2 or 3 I think) before they say your business is a hobby and that's that.
>>534880887This is a good way to get raped by the IRS.
>>534882042At least it’s on your own terms, right? And you get to do a little fucking, instead of just getting fucked. So long as you maintain the ability to backpay, the risk is minimized.
>>534881471>Remove all taxes on private people and only tax companiesYour country will have zero company headquarters before that tax goes into effect. Your government will be broke and people will starve before the first winter. It's just like every time commies try to "tax the rich" and the rich just pick up stakes and fuck off somewhere that isn't trying to rob them.Idiot.
>>534881942Very important to make sure you turn a profit every 3, 4yrs max, ofc one should vary it, and take advantage of the massive tax breaks and equipment purchase allowances of the first 3yrs of each established business.
>>534882424yeah and I misspoke a bit, you can write off the "losses" of your business against other income but better get a CPA to sign off on whatever you do because the IRS knows all about this shit. Very important to make it look like a bonafide for profit venture. The other time I think it's a good idea is if you are doing gig shit, you really do have a lot of business expenses in that case.
>>534882344Are you retarded? I’m talking about companies not about rich people and people in the Soviet paid taxes too. You severely lack reading comprehension, but that is expected from a corporate boot licker. Imagine you arguing in favor of taxing normal people lmfao. You must be a JEW
>>534880906Why are you telling such monstrous lies? I live in bumfuck nowhere, West Virginia and even here the standard deduction isn't enough to cover a year's worth of basic expenses. I have low utility bills compared to most people in the state, and the standard deduction just barely covers my mortgage and utilities for a year.
>>534882344>But if you do that you won't have any bloodsucking rootless international corporations in your country!Oh no! We might even lose our central bank and access to the IMF/BIS!
>>534879744I know this is a bait thread, but I just want to remind people that being a landlord is one of the most important jobs out there. Complete selflessness. We don’t deserve the hate everyone seems to give towards us.
>>534883364
>>534879744Lets not forget that you already payed sales tax on the 58k you spent on survival lmao.
>>534880234how's that working out?
>>534879744>People stop investing >Building starts to decay>No it's an empty shithole contributing to high demand for higher housingThat's how you end up with NYC.
>>534879744shut the fuck up redditnigger
>>534883364>landlordsare parasites
>>534879744whoever made that picture never filed their taxes I guess, because you can deduct your business expenses the same way a company can, kekyou can even deduct shit like the wage for the handiman who came over to unclog your shitter
>>534883364>landlords>working class>lordsKek u dum niggaI bet u one of the niggas that get mad when u burger wrong too
>>534883650Could be better. Could be a lot worse.
>>534881188>>534881348>>534881845Can you guys please go more in depth and in detail about how to set this up and get it done? Particularly how to be the most tax efficient with a business that is also protected by a trust? S-Corp or C-Corp? Both in the same state? Offshore? How do you avoid double taxation?Most importantly, how would you invest personal and business income in long term stocks that you select?How would you deal with income you got from an actual job somewhere which is not part of the your business but that you wanted protected by a trust and invested in your choice of stocks? What would all the target tax rates be?Please detail everything. Provide tips and cover all risks, etc. I have tried studying this on my own but the scenario I want in which all income from business and personal in custom selected stocks while protected by trust and taxed as small as possible, complicates things.
>>534884130ESL or just retarded?
>>534884404Nigga u retarded fuk u. Gibsme reparashuns
>>534883987How big is your house that you own?
>>534884404Worse, they're a leftist
>>534880887this is such bad advice. don't do this. t. studying for CPA.most single member LLC's are "disregarded entities" for tax purposes and won't do shit.
in 20 years California, Arizona (will be mostly depopulated by then outside of copper mining towns) and New Mexico will be tax free unless you decide to operate a publicly traded company within these regions set at 5% income tax.
>>534884589Dis niggaLuk, all im sayin is if u a landlord u a bitch, nigga. Dats all im sayin
>>534884332Also, forgot to ask: How would you guys best protect income earned from a job from child support or alimony payments in the USA? Especially while investing it in long term stocks? Nevada Asset Protection Trust, obviously, but what about the wage garnishment aspect? Can that be remedied or lessened other than by convincing your employer to pay you as an LLC?
>>534879744If you own a building and rent it out, then your job should be maintaining that building and paying its other expenses. If you can't do all that work, then your job is to contract it out and pay those expenses. You should pay yourself for that labor or contracting within reason. You're not a CEO. You are a service worker.
>>534883987>Landlord pays high taxesDo you get government assistance?
>>534884619What if you are a legitimate one-person LLC? How do you differentiate yourself to the IRS as being so?
>>534883157Bold of you to insult my reading comprehension while completely missing the phrase "just like". And you're blathering about "oh no it's wrong that people pay taxes" like if everyone just does everything you say, then everything will work out; it won't, the money has to come from somewhere or the government will collapse and stop providing your power and water.>>534883311That evil greedy corporation gave you the iPhone you posted your stupid screed from. By the way, another evil greedy corporation is called Tyson. They make you the chicken tenders you eat for every meal. And again, if the government is planning on getting all their money from companies, and the companies all go away (because of course they would), then the money has to come from somewhere. Or I guess you could just see how anarchy goes, I'm sure that would be better.
>>534886010>That evil greedy corporation gave you the iPhoneVery interesting take on the word "gave" you've got there
>>534884332>>534885431Buddy, these are questions you need to ask an actual tax accountant, whom you pay for this detailed information. A bunch of brown White supremacists on a Canadian moosefucking forum aren't going to be able to detangle the mess of federal, state, and local laws and how they pertain to your exact personal situation.
HOW DO I PROTECT INCOME FROM A JOB, MY OWN BUSINESS, AND FROM EVERYTHING ELSE WHILE HAVING IT ALL INVESTED IN STOCKS OF MY OWN CHOOSING AND LIVING OFF OF A SMALL SALARY WHILE HAVING EVERYTHING PROTECTED BY A TRUST? BONUS IF YOU CAN SOMEHOW PROTECT JOB INCOME, SUCH AS WORKING FOR WALMART, FROM POTENTIAL FUTURE ALIMONY AND CHILD SUPPORT GARNISHMENT.Thanks.
>>534886376What if you can't afford an accountant? You know, because the rapacious extraction economy leaves you nothing after expenses?
>>534886335*exchangedThe point is, five rednecks aren't going to whip you up a smartphone in exchange for a block of wood you carved into a duck. To bring complex technology to market, you need a large organization full of people who expect to be compensated for their services. And yeah, corporations are Jews when it comes to paying their workers too, but the point is you can't just tax them to death and enjoy the trappings of the first world
>>534886376Accountants and lawyers surf here too, bub.
>>534887003And I'm sure they're just dying to do their job for free. And dox themselves to prove they're not just retards/trolls.All of this is redundant anyway, did you know if you just don't file taxes, nothing will happen? I'm actually an accountant, most of us won't tell anyone this because we'd all be out of a job, but we made up all that stuff about garnishing wages.
>>534887275Believe it or not, some people aren't like you, and enjoy helping others, especially if those needing help share the same interests and views. That is, after all, why they are posting tips in this thread before you or I came along.
>>534879744leftists created the income taxits not even constitutionalif not for themyou would be paying NOTHING on personal income
>>534889055>hey goyim check out this new tax that only the very wealthy will pay, you'd have to make over 3000 silver dollars a year!>hey goyim check out this other new thing made in 1913, the federal reserve! it's going to print IOUs and use them as money for the next hundred years!>uh oh looks like those 3000 dollars cost $180,000 in IOUs now, that means you're rich and have to pay the very wealthy tax :(pretty good scam desu
