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  #21  
Old 03-16-2013, 11:33 AM
205mx 205mx is offline
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Join Date: May 2011
Location: Nashville, TN
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Quote:
Originally Posted by sildoc View Post
I Would agree however at the end of the year and Uncle Sam being paid off you have enough for your first quarterly and a nice little bonus to be had. I would rather error on the high side than OWE Uncle Sam and pay his interest rates.
Yea but 1/3 or gross? That's .33 percent. That would leave me 7% .....

Net figures are so much more
Important that Gross.

And it's not a bonus if you get money back, it's
YOUR money.
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  #22  
Old 03-16-2013, 11:38 AM
CL&T CL&T is offline
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Join Date: May 2011
Location: New York
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Exactly my point. Remember, your first quarterly payment for the next year is due in April also. Nice to have something left over rather than having to come up with money. After the first year you'll know where you stand and you can budget accordingly.
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  #23  
Old 03-16-2013, 11:41 AM
205mx 205mx is offline
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Originally Posted by CL&T View Post
Exactly my point. Remember, your first quarterly payment for the next year is due in April also. Nice to have something left over rather than having to come up with money. After the first year you'll know where you stand and you can budget accordingly.
Totally agree its much easier to do after the first year. Just get in the habit of number chunching
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  #24  
Old 03-18-2013, 12:18 AM
XYZLawnPros XYZLawnPros is offline
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Join Date: Sep 2009
Location: Tundraland
Posts: 333
Social Security is a really really...really bad investment vehicle.

I have looked over all of my elder and deceased relatives documents relating to SS. It is a complete and utter disgrace to the laborers of this country that make under the max yearly ceiling to have to pay into this ponzi scheme if that is what you want to call it.

Now back to the object of the thread.

In all honesty, any of those corporate entities you are wanting to establish will suit most folks purposes in general just fine. The issue is why have only one? You can have your lawn/landscape/maintenance/fert company, but I would have shells behind the name you have in the public. Preferably trust entities. What is a trust you ask? Do your homework and figure it out. Don't expect your accountant or financial adviser or lawyer to help you out. They do not want you to know.

Due diligence for your own company would be looking at how the best run corporations/trusts in the world are running theirs. Examples would be the big ones you all know: Google, Oracle, GE, Microsoft, all the oil companies. Metals manufacturers and food producers. Banks or lenders and monetary creators. Apple to Samsung. Retail manufacturers to durable goods producers.
Media and entertainment. This list is long. The knowledge to gain is vast.

The point is you do not have to make millions or billions or trillions to set your company up like they do.
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  #25  
Old 03-18-2013, 09:17 AM
32vld 32vld is offline
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Join Date: Feb 2011
Location: LI NY
Posts: 3,279
Quote:
Originally Posted by XYZLawnPros View Post
Now back to the object of the thread.

In all honesty, any of those corporate entities you are wanting to establish will suit most folks purposes in general just fine. The issue is why have only one? You can have your lawn/landscape/maintenance/fert company, but I would have shells behind the name you have in the public. Preferably trust entities. What is a trust you ask? Do your homework and figure it out. Don't expect your accountant or financial adviser or lawyer to help you out. They do not want you to know.

Due diligence for your own company would be looking at how the best run corporations/trusts in the world are running theirs. Examples would be the big ones you all know: Google, Oracle, GE, Microsoft, all the oil companies. Metals manufacturers and food producers. Banks or lenders and monetary creators. Apple to Samsung. Retail manufacturers to durable goods producers.
Media and entertainment. This list is long. The knowledge to gain is vast.

The point is you do not have to make millions or billions or trillions to set your company up like they do.
Do not leave us hanging here.

About how much money has to be involved to make having a S corp worth while?

To be able to get income at a lower rate capital gains tax just as Romney did.

I remember the press kept complaining IN LARGE TYPE how Romney made all that income and paid so little in taxes. Inferring he was evading paying his fair share.

Then would sometimes explain buried in the end of the story that most of Romney's income was in capital gains which was taxed at a lower rate then at regular income.
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