The AMC Stock Discussion Thread
- Thread starter I Really Mean It
- Start date
I'm just start this off since everybody talking about taxes and we getting close to something happening
FIrst off, you need to file a business, a sole proprietorship, you can do this with 50 dollars online or mail a money order in most states
The name of the company must include your personal name, so John Dough Management, or something like that
this is not a DBA that you get from your county clerk, file it with the state, you do not need to apply for an EIN number with the IRS since you will be using your SSN since that's what your stock account is already open in
For all the brehs with kids, the more you have the easy this will be, since you can pay your kids a salary, without claiming payroll, and kids can't be taxed, so you can write off 12,400 per kid just by "paying them" to do shyt they already around the house, instead of given them an allowance pay them as employees
the tax code is structured around family business, and why family business is important because you lose out
but for the brehs making big bucks, this is the simple easy out of paying these taxes or knocking off a significant junk
and that's donating to charity
not money, but things of value, that are worth more than what they cost but you can write off the total value of the property that you donated
you don't need to be a business to write off charity either you can do it on your personal tax return
To take off the most significant amount of money, I would suggest buying a foreclosed and then donating it to a local Church, you don't have to fix the property up, but if you do, it will greatly increase it's value, so lets say you spend 5k on the purchase 20k on the rehab, after repair value is 100k just be conservative.
So lets say you owe 400k in taxes after you cashout ya bag, for every 25k you spend you can knock off 100k, so you do that 4 times you will completely erase what you owe in taxes and it only cost you 100k, so that's 300k you get to keep in your pocket
it's that simple
FIrst off, you need to file a business, a sole proprietorship, you can do this with 50 dollars online or mail a money order in most states
The name of the company must include your personal name, so John Dough Management, or something like that
this is not a DBA that you get from your county clerk, file it with the state, you do not need to apply for an EIN number with the IRS since you will be using your SSN since that's what your stock account is already open in
For all the brehs with kids, the more you have the easy this will be, since you can pay your kids a salary, without claiming payroll, and kids can't be taxed, so you can write off 12,400 per kid just by "paying them" to do shyt they already around the house, instead of given them an allowance pay them as employees
the tax code is structured around family business, and why family business is important because you lose out
but for the brehs making big bucks, this is the simple easy out of paying these taxes or knocking off a significant junk
and that's donating to charity
not money, but things of value, that are worth more than what they cost but you can write off the total value of the property that you donated
you don't need to be a business to write off charity either you can do it on your personal tax return
To take off the most significant amount of money, I would suggest buying a foreclosed and then donating it to a local Church, you don't have to fix the property up, but if you do, it will greatly increase it's value, so lets say you spend 5k on the purchase 20k on the rehab, after repair value is 100k just be conservative.
So lets say you owe 400k in taxes after you cashout ya bag, for every 25k you spend you can knock off 100k, so you do that 4 times you will completely erase what you owe in taxes and it only cost you 100k, so that's 300k you get to keep in your pocket
it's that simple
Software
RIP Future Gohan
Don't say avoid taxes. Say deduct taxes. One is legal the other is illegal
Honestly, when this shyt pops I'm just gonna keep half of the money strictly for taxes. I'm not trying to be subject to some loophole that'll put me in jail or make me pay more taxes. I would think most people wouldn't mind paying 5 mil in taxes to keep the other 5 mil.
Use this to determine how much you could own in taxes when everything pop off Tax My Tendies
DJ Paul's Arm
Veteran
Bo stay on rotation. This shyt right here fits the thread. When it pops? Y’all don’t wanna see me
Software
RIP Future Gohan
Yuck nah fukk them
I Really Mean It
Veteran
It would be a huge boon to its price and likely trigger a gamma that culminates in a short squeeze.
Software
RIP Future Gohan
I guess, I'm just not a fan of Amazon painting the biggest movie theater chain in the world
I'm thinking about doing the same with my FB and twitter shares. But that's my backup if this thing goes south. I also don't want to pay the taxes for selling it this year. I'll do it if this thing goes into next year though. I'm hoping FB crosses $400 by then.
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