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Started By
Message
Looking to get creative regarding taxes
Posted on 1/23/19 at 6:57 am
Posted on 1/23/19 at 6:57 am
I'm a silent partner in a business that is finally turning a decent profit after 3 years and can finally afford to start paying me back (and then some).
I would like a way to be compensated without cash and have thought of a few scenarios.
1. I live out of the country, could the business rent my apartment and pay my bills for me? I could call it business development as I am studying Spanish intensively (Spanish is needed greatly for this business).
2. The company could invest in another start-up I have here in South America.
3. Hookers and blow (kidding of course)
Any thoughts on this?
I would like a way to be compensated without cash and have thought of a few scenarios.
1. I live out of the country, could the business rent my apartment and pay my bills for me? I could call it business development as I am studying Spanish intensively (Spanish is needed greatly for this business).
2. The company could invest in another start-up I have here in South America.
3. Hookers and blow (kidding of course)
Any thoughts on this?
This post was edited on 1/23/19 at 7:01 am
9
Posted on 1/23/19 at 8:36 am to I Love Bama
quote:
Any thoughts on this?
Tax evasion is never a good idea
Posted on 1/23/19 at 8:36 am to I Love Bama
I’m sure this thread will provide great evidence for your upcoming trial for tax evasion.
Posted on 1/23/19 at 8:43 am to I Love Bama
What method are you using to learn Spanish?
Posted on 1/23/19 at 9:42 am to I Love Bama
I hate taxes just as much as the next person, but just pay your damn taxes. Use legitimate tax avoidance strategies, but otherwise, give Uncle Sam his due.
Also, hire a CPA, don’t go roving the internet for creative tax ideas, because you’re just going to find yourself in trouble.
Though, I suspect, this is a kind of peculiar, subtle brag thread.
Also, hire a CPA, don’t go roving the internet for creative tax ideas, because you’re just going to find yourself in trouble.
Though, I suspect, this is a kind of peculiar, subtle brag thread.
This post was edited on 1/23/19 at 9:43 am
Posted on 1/23/19 at 10:55 am to southernelite
quote:
hate taxes just as much as the next person, but just pay your damn taxes. Use legitimate tax avoidance strategies, but otherwise, give Uncle Sam his due.
Hear, hear. If we're lucky enough to make money, we can be good citizens and not try to skip on the responsibility of maintaining roads, bridges, security, national defense, and all the other trappings of civilized society.
Posted on 1/23/19 at 11:00 am to hungryone
quote:we wish
of maintaining roads, bridges, security, national defense, and all the other trappings of civilized society.
Posted on 1/23/19 at 11:06 am to I Love Bama
How could this be tax evasion? I need Spanish for my bisness, I am going to go learn Spanish.
And a brag thread? Having an unprofitable company for 3 years is considered bragging? What world is this?
And a brag thread? Having an unprofitable company for 3 years is considered bragging? What world is this?
Posted on 1/23/19 at 11:07 am to I Love Bama
quote:
How could this be tax evasion? I need Spanish for my bisness, I am going to go learn Spanish.
quote:
I live out of the country, could the business rent my apartment and pay my bills for me? I could call it business development as I am studying Spanish intensively
Posted on 1/23/19 at 11:16 am to I Love Bama
Posted on 1/23/19 at 11:40 am to ScaryClown
quote:
What method are you using to learn Spanish?
hmmmn let's see, probably immersion since he lives in SA, maybe pimsleur approach CD's, books and apps on iphone? you can get tutors also on verbling.
Posted on 1/23/19 at 11:43 am to I Love Bama
quote:
And a brag thread? Having an unprofitable company for 3 years is considered bragging? What world is this?
hope shite is going good for ya man. You definitely have a young entrepreneurial mind. Especially going out the country to make this work.
Posted on 1/23/19 at 12:01 pm to Fat Bastard
Or he likes the Latino poon!
Posted on 1/23/19 at 12:10 pm to birdieman
quote:
Or he likes the Latino poon!
why not both?
Posted on 1/23/19 at 12:19 pm to Fat Bastard
quote:
hmmmn let's see, probably immersion since he lives in SA, maybe pimsleur approach CD's, books and apps on iphone? you can get tutors also on verbling.
I listen to language transfer- complete Spanish in the car and I like it a lot. I also use rosetta stone but it's not worth the money in my opinion. It's ok for building some extra vocabulary I guess but duolingo can do that for free. I also have my phone set in spanish, started listening to spanish music, and watch Netflix with Spanish subtitles. That's about as close to immersion as I can get in the states
This post was edited on 1/23/19 at 12:21 pm
Posted on 1/23/19 at 1:50 pm to I Love Bama
Your scenarios sound like they'd be considered fringe benefits, which would be taxable income.
Just get paid your ROI on the up and up from the business and use normal methods to reduce how much goes to taxes...retirement accounts or reinvest in something else.
Just get paid your ROI on the up and up from the business and use normal methods to reduce how much goes to taxes...retirement accounts or reinvest in something else.
This post was edited on 1/23/19 at 1:51 pm
Posted on 1/23/19 at 3:24 pm to birdieman
quote:
Or he likes the Latino poon!
Si claro, hermano. Yo quiero hablamos pronto.
Posted on 1/23/19 at 5:48 pm to I Love Bama
Haha. I leave that up to my young friend. Send me pics tho.
Posted on 1/23/19 at 10:04 pm to Yeti_Chaser
quote:
I listen to language transfer- complete Spanish in the car and I like it a lot. I also use rosetta stone but it's not worth the money in my opinion. It's ok for building some extra vocabulary I guess but duolingo can do that for free. I also have my phone set in spanish, started listening to spanish music, and watch Netflix with Spanish subtitles. That's about as close to immersion as I can get in the states
yeah i listen to the pimsleur CD's while driving and it is unreal how well that sticks.
word dive is a good app also.
quote:
That's about as close to immersion as I can get in the states
oh man i can get all the spanish speaking immersion i want here if ya know what i mean.LOL. my father and stepdad speak/spoke spanish and my dad worked in mexico and south america so i grew up with it. spanish is my second language. italian i am studying now as a third language.
Posted on 1/23/19 at 10:23 pm to Fat Bastard
Send like l remember you were talking about branching out into an educational business that involved classes for your kind of business. If that's the case, consult a CPA.
And your best bet is to find one who didavows "grey areas."
And your best bet is to find one who didavows "grey areas."
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