Reply With Quotehow is your company set up? corp, dba ect..
Are there any financial planners here ?
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04-06-2005, 12:26 PM #1Is Doin It 4 Da Shorteez
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Are there any financial planners here ?
I need a way to lower my tax liablities. I am self-employed and already max out my SEP contributions. Is there anything else I can do ?
I train differently than most, my beef is with gravity the weights on the bar are just the medium...Thanks to Wall Street your slice of the American Pie has been reduced to a crumb.
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04-06-2005, 12:42 PM #2on a constant bulk ELITE MEMBER
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this is now, i can't change tommrrowif i can't change today
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04-06-2005, 12:42 PM #3% ELITE MEMBER
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I'm not a financial planner but I am a qualified retirement plan attorney. If you're looking for big deductions through tax deferred investments, scrap your SEP and implement a defined benefit plan/pension plan. Depending on your annual income and desired level of retirement income, you can make fully deductible plan contributions up to $350,000 or so.
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04-06-2005, 12:57 PM #4Is Doin It 4 Da Shorteez
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I basically get payed as an independent contractors, 100% commission
Originally Posted by westb51
I train differently than most, my beef is with gravity the weights on the bar are just the medium...Thanks to Wall Street your slice of the American Pie has been reduced to a crumb.
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04-06-2005, 02:47 PM #5Employee of the Month
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donat the money to me.....
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04-06-2005, 02:55 PM #6Founder of GOSB SUPER MODERATOR
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Talk to Pepper. He's an accountant.
Disclaimer: All health, fitness, diet, nutrition, anabolic steroid & supplement information posted here is intended for educational and informational purposes only, and is not intended as a substitute for proper medical advice from a medical doctor. We do not condone the use of anabolic steroids (AAS), all information about AAS is for educational and entertainment purposes only. If you choose to use AAS it's your responsibility to know the laws of the country that you live in. Consult your physician or health care professional before performing any of the exercises, or following any diet, nutrition or supplement advice described on this website.
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04-06-2005, 03:01 PM #7Bohemian Extraordinaire ELITE MEMBER
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Best advice don't listen to this guy. Originally Posted by seven11
Coarse edged youth, the irish pendants string from their smiles
not yet plucked as to slacken the seams
and drag down the features of age,
no folds or creases from unkempt wear
eyes of tranquilty, crystalline-beads
no sign of despair in their hair, nor their hearts
but oh they have yet to be experienced and that makes aging so very worth it...ML circa2012
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04-06-2005, 03:05 PM #8on a constant bulk ELITE MEMBER
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any interest you've paid on your car (if you use it for work), interest on your house note (if you work out of your house), assets that have capitalized can been depreciated
this is now, i can't change tommrrowif i can't change today
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04-07-2005, 09:40 PM #9Registered User
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Honestly, I would hire a good tax accountant you can trust. If you do your own, consider something like turbo tax just to make sure you aren't missing little shit.
You can pretty much deduct what you want, keep in mind, you just have to make sure it would stand up under audit.
From what I understand, self employed people have it pretty good considering what all they can deduct. Sorry I can't be of more assistance.
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