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Old 06-18-2018, 05:38 PM #11
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If the sole purpose of creating the LLC is to avoid taxes with no economic substance then the IRS will undoubtedly disallow it. This is hair brained idea and really just common sense.

Yo mane, Im gonna setup dis LLC and deduct all muh personal expenses. Im gonna save so much in taxes, yo. Are you that dense, Butler?
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Old 06-18-2018, 05:58 PM #12
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Originally Posted by BostonGuy View Post
If the sole purpose of creating the LLC is to avoid taxes with no economic substance then the IRS will undoubtedly disallow it. This is hair brained idea and really just common sense.

Yo mane, Im gonna setup dis LLC and deduct all muh personal expenses. Im gonna save so much in taxes, yo. Are you that dense, Butler?
He's just trolling cuz of the MCC thunderdome thread.
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Old 06-18-2018, 06:17 PM #13
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Originally Posted by jreckoning View Post
He's just trolling cuz of the MCC thunderdome thread.
Thanx for the heads up. Given all stupid **** Butler spouts, I couldnt tell
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Old 06-18-2018, 06:33 PM #14
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Quote:
Originally Posted by BostonGuy View Post
If the sole purpose of creating the LLC is to avoid taxes with no economic substance then the IRS will undoubtedly disallow it. This is hair brained idea and really just common sense.

Yo mane, Im gonna setup dis LLC and deduct all muh personal expenses. Im gonna save so much in taxes, yo. Are you that dense, Butler?
Youre the kind of cpa no business people want. All business people want a cpa that can bend the rule to save them taxes.

Trump had like 10 goats in his huge golf course to qualify it as farm land in order to minimize or avoid tax.
That's the kind of cpa you want to hire.
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Old 06-18-2018, 06:51 PM #15
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Does it cost 500 bucks to make LLC?
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Old 06-18-2018, 06:54 PM #16
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Originally Posted by turnedup View Post
You need an LLC otherwise your personal assets can be taken in a lawsuit. Protect your ***** fam.
Yep! I agree with your other post except it's a lot cheaper to do it yourself, don't use LegalZoom.
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Old 06-18-2018, 06:54 PM #17
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trump new tax credits for small businesses is only for if you making less than 150K a year I beleive.

but open an llc is as easy as clicking next next and filing some information out on a page.
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Old 06-18-2018, 07:06 PM #18
Motorcity Cobra Motorcity Cobra is online now
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Originally Posted by .!WAR MIKEY! View Post
trump new tax credits for small businesses is only for if you making less than 150K a year I beleive.

but open an llc is as easy as clicking next next and filing some information out on a page.
Not according to multi millionare multiple successful business owner Sugar Adam Ali. You gotta pay a gazillion dollars and be really smart to start one.
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Old 06-18-2018, 07:09 PM #19
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Originally Posted by flipbjefrox View Post
Does it cost 500 bucks to make LLC?
No, only $100
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Old 06-18-2018, 08:19 PM #20
BostonGuy BostonGuy is offline
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Originally Posted by B.UTLER View Post
Youre the kind of cpa no business people want. All business people want a cpa that can bend the rule to save them taxes.

Trump had like 10 goats in his huge golf course to qualify it as farm land in order to minimize or avoid tax.
That's the kind of cpa you want to hire.
You want the Saul Goodman of CPAs?

I'm the kind of CPA that pushes the envelope and advocates fiercely for my clients but also don't put them at unnecessary risk. If I created a tax shelter for the sole purpose of avoiding taxes, the risk is not worth the reward.

If this scheme saves you $10K in taxes but will cost you $30K if you get caught - ask yourself is this an acceptable risk to take for this amount of money?
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