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Finished 2017 tax projections: netted $1.326 mil (CSLG)

I just finished doing my law firm books for 2017 and I nette...
Floppy point national security agency
  12/15/17
180 bro! You deserve it!
diverse primrose macaca giraffe
  12/15/17
You're still young! You can make it at any age!
Elite dun ape
  12/16/17
Coppin' the right kind of investment RE will possibly let yo...
Azure doctorate
  12/15/17
Introducing the XO winery: Chateau 180.
titillating wagecucks
  12/15/17
...
Burgundy stimulating whorehouse athletic conference
  12/15/17
There was a thread a few months ago where we were talking ab...
Stirring abusive mediation pozpig
  12/15/17
Hard Fork Cider (a subsidiary of Crypto Gainz LP)
titillating wagecucks
  12/15/17
That just sounds like 4 loko in cider form. This was more li...
Stirring abusive mediation pozpig
  12/15/17
Interesting idea re ice wine. I'd think it would be, mechani...
titillating wagecucks
  12/15/17
I am guessing there is an issue b/c apples are denser and ha...
Stirring abusive mediation pozpig
  12/15/17
Yeah. Apparently I've been having the TTT overly sweet kind....
titillating wagecucks
  12/15/17
Cali Dunkin Donuts Guru
Stirring abusive mediation pozpig
  12/15/17
Biz. development deduction? Asset that generates impairment ...
titillating wagecucks
  12/15/17
The biggest issue is that I keep my overhead extremely low. ...
Floppy point national security agency
  12/15/17
That party you threw alone you had to hire the MC who charge...
titillating wagecucks
  12/15/17
Lol. My party was about $3,000 with everything. My friend ow...
Floppy point national security agency
  12/15/17
I'm hoping for between 750 and 1 mil next year. Congrats. Ru...
submissive kink-friendly shrine
  12/15/17
Good luck. What city are you in? If LA who is the mediator? ...
Floppy point national security agency
  12/15/17
not Cali but Federal Court.
submissive kink-friendly shrine
  12/15/17
180
Ocher Locus Bbw
  12/15/17
set up a home office (so dont pay off your house) and deduct...
Rambunctious chest-beating field digit ratio
  12/15/17
Too late, I paid off my mortgage in March. I already deduct ...
Floppy point national security agency
  12/15/17
Make your next property your home office Can also deduct ...
Rambunctious chest-beating field digit ratio
  12/15/17
What does pre-litigation mean here, without having to file s...
Fuchsia vengeful generalized bond
  12/15/17
Yes, without a lawsuit.
Floppy point national security agency
  12/15/17
Moving to TX fixes state income tax, and has lower COL as we...
Burgundy stimulating whorehouse athletic conference
  12/15/17
But I would have no income. I guess I could just retire with...
Floppy point national security agency
  12/15/17
Pro tip: do not under any circumstances move to Austin
razzle-dazzle faggotry garrison
  12/15/17
Why not?
Floppy point national security agency
  12/15/17
Buncha shitlibs and weird ass people. Also higher COL than e...
Burgundy stimulating whorehouse athletic conference
  12/15/17
...
Mind-boggling library
  12/16/17
nah wait awhile before moving. but do it eventually. Guns, l...
Burgundy stimulating whorehouse athletic conference
  12/15/17
I would never move from LA. My house is paid off and I'll ha...
Floppy point national security agency
  12/15/17
eh, fair enough. Like LA in general?
Burgundy stimulating whorehouse athletic conference
  12/15/17
I live in the San Fernando Valley. I hate the actual city. T...
Floppy point national security agency
  12/15/17
Jesus. Keep your voice down. Earl might hear you.
Umber Odious Institution Regret
  12/15/17
...
Peach dragon piazza
  12/16/17
And probably crushes the income. Isn't California plain...
Fuchsia vengeful generalized bond
  12/15/17
Best state in the nation for PI.
Floppy point national security agency
  12/15/17
YNY get that hustle congrats
smoky territorial nibblets
  12/15/17
how many solos do you know who have just flamed out of the p...
bisexual olive lay
  12/15/17
I know several who flamed out and ended up as an associate s...
Floppy point national security agency
  12/15/17
Why do you think they did shitty work? Lack of responsivene...
Cobalt Nofapping Locale Clown
  12/15/17
Both.
Floppy point national security agency
  12/15/17
180, congrats.
Burgundy stimulating whorehouse athletic conference
  12/15/17
holy shit congrats
plum legal warrant plaza
  12/15/17
180 man
Beta puppy
  12/15/17
Can you ask your CPA about paying your 2018 estimated CA sta...
Abnormal parlour
  12/15/17
I actually JUST did that right now. I paid 130K for 2018 lit...
Floppy point national security agency
  12/15/17
180!
Abnormal parlour
  12/15/17
Love hearing about the practice bro. I am sure you have addr...
excitant mustard menage trust fund
  12/15/17
Summered at a big firm 2L year. Hated it and got no offered ...
Floppy point national security agency
  12/15/17
What moment in your legal career are you most proud of? Some...
excitant mustard menage trust fund
  12/15/17
I settled a case for a bit over 2 million for a widow whose ...
Floppy point national security agency
  12/15/17
Incredible. Must have felt almost as good as when I caught t...
excitant mustard menage trust fund
  12/15/17
...
razzmatazz boiling water school
  12/15/17
...
pearl skinny woman
  12/15/17
...
Cobalt Nofapping Locale Clown
  12/15/17
...
Startled personal credit line ticket booth
  12/15/17
...
Vivacious Zombie-like Chapel
  12/15/17
...
Low-t sneaky criminal
  12/15/17
...
Ruddy theater stage immigrant
  12/15/17
...
frisky roommate
  12/15/17
...
irate metal mental disorder
  12/16/17
...
plum legal warrant plaza
  12/16/17
...
Well-lubricated Lilac Windowlicker
  12/16/17
...
Swashbuckling lodge
  12/17/17
...
bat shit crazy pea-brained love of her life
  04/09/18
...
magical son of senegal
  04/09/18
180
frisky roommate
  12/15/17
Congrats on the success, mang.
pearl skinny woman
  12/15/17
Nice bro!
supple mad cow disease
  12/15/17
...
Mind-boggling library
  12/15/17
What sort of RE are you looking to buy? Are you looking to ...
Abnormal parlour
  12/15/17
Multifamily and NNN commercial. Cap rates suck right now but...
Floppy point national security agency
  12/15/17
congratulations bro
razzmatazz boiling water school
  12/15/17
180, congrats.
fragrant cerise hairy legs
  12/15/17
Damn, nice.
Pungent amber indian lodge
  12/15/17
Send our new shitfirm cases
Cobalt Nofapping Locale Clown
  12/15/17
DESCRIBE your billable rate.
Fuchsia vengeful generalized bond
  12/15/17
I will. Do you already know who I am, or would this out me?
Pungent amber indian lodge
  12/15/17
I have no clue who you are but I've met 10 xo poasters and w...
Cobalt Nofapping Locale Clown
  12/15/17
180.
coiffed candlestick maker trailer park
  12/15/17
180
sable cocky shitlib hissy fit
  12/15/17
what does your CRYPTOCOIN PORTFOLIO look like
Sadistic histrionic temple famous landscape painting
  12/15/17
3 BTC and 25 ETH. Not a lot but my basis is like 15K. I ...
Floppy point national security agency
  12/15/17
180
Low-t sneaky criminal
  12/15/17
Excellent work man! I'm a solo that does some PI, and I real...
Mint theatre
  12/15/17
180 friend. have you thought about buying up some residen...
big boltzmann quadroon
  12/15/17
so you "netted" 765K
Emerald corner cuckoldry
  12/15/17
"nutted" http://autoadmit.com/thread.php?thread...
anal corn cake
  12/15/17
Next year you have to make a lot more to net the same amount...
anal corn cake
  12/15/17
Pass through income may be taxed at 20% next year. I would p...
Floppy point national security agency
  12/15/17
last i heard the 20% break is not available for service prof...
Swashbuckling lodge
  12/15/17
Yep Edit: 315k now
Buck-toothed french chef
  12/16/17
incredible and you deserve it for your hustle. congrats.
Iridescent unhinged resort
  12/15/17
180
frisky roommate
  12/15/17
you need a better CPA if he's not suggesting tax strategies....
Swashbuckling lodge
  12/15/17
Give me some ideas. I read a lot about taxes and it seems li...
Floppy point national security agency
  12/16/17
Anyone?
Floppy point national security agency
  12/16/17
Captive insurance. Deduct premium you pay to your own insur...
Contagious internet-worthy brunch hominid
  12/16/17
How much can I dump into that in a year?
Floppy point national security agency
  12/16/17
1.2 million or something like that. Need to hire a reputabl...
Contagious internet-worthy brunch hominid
  12/16/17
Interesting, I'll look into that. Thanks.
Floppy point national security agency
  12/16/17
There's a financial guy I know in LA that probably does it o...
Contagious internet-worthy brunch hominid
  12/16/17
calishitlawguru@gmail.com. Really appreciate this brother...
Floppy point national security agency
  12/16/17
...
Floppy point national security agency
  12/16/17
Let me check with him first and get back to you. Probably to...
Contagious internet-worthy brunch hominid
  12/16/17
Notice to any poasters who may find this subthread while con...
Up-to-no-good affirmative action hell
  04/01/18
Pouring money into real estate sounds exhausting
Buck-toothed french chef
  12/16/17
There aren't that many places to pour money into for passive...
Floppy point national security agency
  12/16/17
No doubt. Just seems like a fuckton of work for the near fut...
Buck-toothed french chef
  12/16/17
How did you build your PI practice without marketing brother...
self-centered glittery set masturbator
  12/16/17
1. Be friendly to everyone you meet, let them know what you ...
Floppy point national security agency
  12/16/17
This is all credited advice whether you are shitlaw or bigla...
Buck-toothed french chef
  12/16/17
Do your solo friends give you referral fees? I know some big...
Floppy point national security agency
  12/17/17
They would but Firm does not allow referral fees unless we a...
Buck-toothed french chef
  12/17/17


Poast new message in this thread



Reply Favorite

Date: December 15th, 2017 11:20 AM
Author: Floppy point national security agency

I just finished doing my law firm books for 2017 and I netted $1,326,000. Any settlements the last couple weeks of the year will be pushed to 2018, so this is pretty much it for this year. Here is summary of my taxes:

According to my CPA here is my breakdown:

765K after taxes

136K to state income tax

425K to federal income tax

Firm Statistics

Total files: 283

Files in litigation: 41

Settlement: 85.5% of cases settle prelit

New files per month: 25-30

I paid off my house earlier this year. Our plan right now is to max out my SEP (54K) and my wife's 401K (18K) (which we have already been doing for years), and everything left above 100K (for a buffer) will be used to buy real estate. Wife works in-house as a lawyer and makes 120K + plus a 5-10K bonus.

It's kind of crazy how much I pay in taxes, but I feel like I do all the deductions I can without exposing myself to significant liability if audited. Although open to ideas (I already write off property tax, retirement, child care, health savings account, one business vehicle, cable, auto insurance, cell phone, new computers, office improvements, a reasonable amount of travel/meals/entertainment for business, etc).

Taking questions.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926680)



Reply Favorite

Date: December 15th, 2017 1:08 PM
Author: diverse primrose macaca giraffe

180 bro!

You deserve it!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927519)



Reply Favorite

Date: December 16th, 2017 11:40 AM
Author: Elite dun ape

You're still young! You can make it at any age!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934570)



Reply Favorite

Date: December 15th, 2017 11:23 AM
Author: Azure doctorate

Coppin' the right kind of investment RE will possibly let you use depreciation and other stuff to your advantage and shield more $ from taxes

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926704)



Reply Favorite

Date: December 15th, 2017 11:24 AM
Author: titillating wagecucks

Introducing the XO winery: Chateau 180.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926715)



Reply Favorite

Date: December 15th, 2017 11:33 AM
Author: Burgundy stimulating whorehouse athletic conference



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926807)



Reply Favorite

Date: December 15th, 2017 11:40 AM
Author: Stirring abusive mediation pozpig

There was a thread a few months ago where we were talking about doing an artisinal cider business.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926851)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: titillating wagecucks

Hard Fork Cider (a subsidiary of Crypto Gainz LP)

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926867)



Reply Favorite

Date: December 15th, 2017 11:44 AM
Author: Stirring abusive mediation pozpig

That just sounds like 4 loko in cider form. This was more like taking the brix of the apples so that they are harvested at the right time, having different varietals, aging in French Oak.

I wonder if it is possible to make an ice wine like thing with apples.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926881)



Reply Favorite

Date: December 15th, 2017 11:45 AM
Author: titillating wagecucks

Interesting idea re ice wine. I'd think it would be, mechanism should be the same. Wonder how it would compare to Lambic beer.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926899)



Reply Favorite

Date: December 15th, 2017 11:47 AM
Author: Stirring abusive mediation pozpig

I am guessing there is an issue b/c apples are denser and have lower surface area/volume than grapes. But you could just take the mash and freeze it in a factory.

Lambic beer is just stuff brewed with wild lactobacteria, right?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926909)



Reply Favorite

Date: December 15th, 2017 11:49 AM
Author: titillating wagecucks

Yeah. Apparently I've been having the TTT overly sweet kind.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926923)



Reply Favorite

Date: December 15th, 2017 12:05 PM
Author: Stirring abusive mediation pozpig

Cali Dunkin Donuts Guru

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927036)



Reply Favorite

Date: December 15th, 2017 11:23 AM
Author: titillating wagecucks

Biz. development deduction? Asset that generates impairment losses? Take whatever you think reasonable meals etc. are and triple those deductions?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926707)



Reply Favorite

Date: December 15th, 2017 11:27 AM
Author: Floppy point national security agency

The biggest issue is that I keep my overhead extremely low. I usually do like one nice meal a month with friends and my wife which is business development ($500+). I don't really spend money on biz dev lol.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926751)



Reply Favorite

Date: December 15th, 2017 11:29 AM
Author: titillating wagecucks

That party you threw alone you had to hire the MC who charges a high hourly rate I hear, get the venue catering etc.

BTW congrats on the fantastic year, here's to another '18.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926777)



Reply Favorite

Date: December 15th, 2017 11:32 AM
Author: Floppy point national security agency

Lol. My party was about $3,000 with everything. My friend owns the laser tag facility (I've been playing there since 95) and basically let me rent out the place at cost ($850). The majority of the money was spent tipping the girls who work there ($140/each), buying food ($1,300), and doing my raffle ($600).

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926797)



Reply Favorite

Date: December 15th, 2017 11:24 AM
Author: submissive kink-friendly shrine

I'm hoping for between 750 and 1 mil next year. Congrats. Running between 150-175 cases. Significantly lower pre-lit settlement %. Mediating my biggest case ever this pm, which will count towards next year.

Qs: What helped make the jump from ~100-150 cases to where you are now? I've kind of plateau'd where I am.

Do you have an associate? How much support staff? What do you pay them?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926726)



Reply Favorite

Date: December 15th, 2017 11:28 AM
Author: Floppy point national security agency

Good luck. What city are you in? If LA who is the mediator? I have several 7 figure cases in my pipeline that should settle next year.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926770)



Reply Favorite

Date: December 15th, 2017 12:03 PM
Author: submissive kink-friendly shrine

not Cali but Federal Court.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927017)



Reply Favorite

Date: December 15th, 2017 11:25 AM
Author: Ocher Locus Bbw

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926735)



Reply Favorite

Date: December 15th, 2017 11:25 AM
Author: Rambunctious chest-beating field digit ratio

set up a home office (so dont pay off your house) and deduct that plus util, internet, commuting, etc.

will not be a huge number but every little bit helps

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926737)



Reply Favorite

Date: December 15th, 2017 11:28 AM
Author: Floppy point national security agency

Too late, I paid off my mortgage in March. I already deduct my internet, cell phone, car, etc.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926758)



Reply Favorite

Date: December 15th, 2017 12:05 PM
Author: Rambunctious chest-beating field digit ratio

Make your next property your home office

Can also deduct electricity, garbage etc

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927037)



Reply Favorite

Date: December 15th, 2017 11:31 AM
Author: Fuchsia vengeful generalized bond

What does pre-litigation mean here, without having to file suit at all?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926786)



Reply Favorite

Date: December 15th, 2017 11:32 AM
Author: Floppy point national security agency

Yes, without a lawsuit.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926800)



Reply Favorite

Date: December 15th, 2017 11:32 AM
Author: Burgundy stimulating whorehouse athletic conference

Moving to TX fixes state income tax, and has lower COL as well...

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926802)



Reply Favorite

Date: December 15th, 2017 11:34 AM
Author: Floppy point national security agency

But I would have no income. I guess I could just retire with 3 million to Austin, but I would rather live in LA. All my family and friends live here.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926812)



Reply Favorite

Date: December 15th, 2017 11:39 AM
Author: razzle-dazzle faggotry garrison

Pro tip: do not under any circumstances move to Austin

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926839)



Reply Favorite

Date: December 15th, 2017 11:40 AM
Author: Floppy point national security agency

Why not?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926850)



Reply Favorite

Date: December 15th, 2017 11:41 AM
Author: Burgundy stimulating whorehouse athletic conference

Buncha shitlibs and weird ass people. Also higher COL than elsewhere, and has shitty city gov.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926863)



Reply Favorite

Date: December 16th, 2017 9:22 AM
Author: Mind-boggling library



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933965)



Reply Favorite

Date: December 15th, 2017 11:41 AM
Author: Burgundy stimulating whorehouse athletic conference

nah wait awhile before moving. but do it eventually. Guns, land, low COL.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926854)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: Floppy point national security agency

I would never move from LA. My house is paid off and I'll have 10 million in investable assets by the time I'm 40. I can just stay here and stop working in 6 years.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926871)



Reply Favorite

Date: December 15th, 2017 11:44 AM
Author: Burgundy stimulating whorehouse athletic conference

eh, fair enough. Like LA in general?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926878)



Reply Favorite

Date: December 15th, 2017 11:51 AM
Author: Floppy point national security agency

I live in the San Fernando Valley. I hate the actual city. Too crowded and parking sucks.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926930)



Reply Favorite

Date: December 15th, 2017 4:10 PM
Author: Umber Odious Institution Regret

Jesus. Keep your voice down. Earl might hear you.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928992)



Reply Favorite

Date: December 16th, 2017 10:56 AM
Author: Peach dragon piazza



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934361)



Reply Favorite

Date: December 15th, 2017 11:34 AM
Author: Fuchsia vengeful generalized bond

And probably crushes the income.

Isn't California plaintiff friendly?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926813)



Reply Favorite

Date: December 15th, 2017 11:35 AM
Author: Floppy point national security agency

Best state in the nation for PI.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926818)



Reply Favorite

Date: December 15th, 2017 11:34 AM
Author: smoky territorial nibblets

YNY get that hustle

congrats

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926814)



Reply Favorite

Date: December 15th, 2017 11:40 AM
Author: bisexual olive lay

how many solos do you know who have just flamed out of the profession or aren't doing well?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926849)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: Floppy point national security agency

I know several who flamed out and ended up as an associate somewhere. Most don't do well because they do shitty work and rely on paid marketing for clients. So they have low settlements and high acquisition costs. I'm the opposite. I do great work and no paid marketing. So my margins are crazy.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926864)



Reply Favorite

Date: December 15th, 2017 12:13 PM
Author: Cobalt Nofapping Locale Clown

Why do you think they did shitty work? Lack of responsiveness?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927092)



Reply Favorite

Date: December 15th, 2017 2:02 PM
Author: Floppy point national security agency

Both.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927915)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: Burgundy stimulating whorehouse athletic conference

180, congrats.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926868)



Reply Favorite

Date: December 15th, 2017 11:44 AM
Author: plum legal warrant plaza

holy shit congrats

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926888)



Reply Favorite

Date: December 15th, 2017 11:46 AM
Author: Beta puppy

180 man

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926903)



Reply Favorite

Date: December 15th, 2017 11:55 AM
Author: Abnormal parlour

Can you ask your CPA about paying your 2018 estimated CA state taxes in 2017 since SALT is going away?

See this thread:

http://autoadmit.com/thread.php?thread_id=3828093&mc=37&forum_id=2

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926949)



Reply Favorite

Date: December 15th, 2017 12:04 PM
Author: Floppy point national security agency

I actually JUST did that right now. I paid 130K for 2018 literally 30 seconds ago.



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927024)



Reply Favorite

Date: December 15th, 2017 12:14 PM
Author: Abnormal parlour

180!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927095)



Reply Favorite

Date: December 15th, 2017 11:59 AM
Author: excitant mustard menage trust fund

Love hearing about the practice bro. I am sure you have addressed this previously but do you have a biglaw background?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926977)



Reply Favorite

Date: December 15th, 2017 12:05 PM
Author: Floppy point national security agency

Summered at a big firm 2L year. Hated it and got no offered because I left every day early and didn't go to most of the summer associate events.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927031)



Reply Favorite

Date: December 15th, 2017 12:09 PM
Author: excitant mustard menage trust fund

What moment in your legal career are you most proud of? Some brilliant procedural move? Closing argument? Seeing your clients' lives change after a big win/settlement?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927062)



Reply Favorite

Date: December 15th, 2017 12:11 PM
Author: Floppy point national security agency

I settled a case for a bit over 2 million for a widow whose husband was killed in a head on collision. The other party only had 100K policy but we found a road defect from construction and got almost 2 mil from the construction company/city. I changed that woman's life. She was an old Hispanic lady who never worked and spoke no English. Without me she would have been destitute. It felt really good to help someone that much.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927084)



Reply Favorite

Date: December 15th, 2017 12:15 PM
Author: excitant mustard menage trust fund

Incredible. Must have felt almost as good as when I caught that missing comma in the credit agreement for the joint bookrunners on this subordinated debt deal. Wouldn't trade that experience for the world.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927112)



Reply Favorite

Date: December 15th, 2017 1:07 PM
Author: razzmatazz boiling water school



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927511)



Reply Favorite

Date: December 15th, 2017 1:12 PM
Author: pearl skinny woman



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927538)



Reply Favorite

Date: December 15th, 2017 1:13 PM
Author: Cobalt Nofapping Locale Clown



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927551)



Reply Favorite

Date: December 15th, 2017 1:46 PM
Author: Startled personal credit line ticket booth



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927808)



Reply Favorite

Date: December 15th, 2017 1:49 PM
Author: Vivacious Zombie-like Chapel



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927818)



Reply Favorite

Date: December 15th, 2017 5:14 PM
Author: Low-t sneaky criminal



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929548)



Reply Favorite

Date: December 15th, 2017 5:14 PM
Author: Ruddy theater stage immigrant



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929558)



Reply Favorite

Date: December 15th, 2017 11:29 PM
Author: frisky roommate



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932058)



Reply Favorite

Date: December 16th, 2017 9:04 AM
Author: irate metal mental disorder



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933907)



Reply Favorite

Date: December 16th, 2017 9:05 AM
Author: plum legal warrant plaza



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933910)



Reply Favorite

Date: December 16th, 2017 11:11 AM
Author: Well-lubricated Lilac Windowlicker



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934434)



Reply Favorite

Date: December 17th, 2017 2:04 PM
Author: Swashbuckling lodge



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34942267)



Reply Favorite

Date: April 9th, 2018 12:58 AM
Author: bat shit crazy pea-brained love of her life



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#35796599)



Reply Favorite

Date: April 9th, 2018 12:58 AM
Author: magical son of senegal



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#35796603)



Reply Favorite

Date: December 15th, 2017 11:29 PM
Author: frisky roommate

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932055)



Reply Favorite

Date: December 15th, 2017 12:01 PM
Author: pearl skinny woman

Congrats on the success, mang.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927003)



Reply Favorite

Date: December 15th, 2017 12:02 PM
Author: supple mad cow disease

Nice bro!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927006)



Reply Favorite

Date: December 15th, 2017 12:11 PM
Author: Mind-boggling library



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927082)



Reply Favorite

Date: December 15th, 2017 12:20 PM
Author: Abnormal parlour

What sort of RE are you looking to buy? Are you looking to rent it out or flip it? Id like to get into RE since we don’t want to only put money into the stock market, but it’s a tough market right now given how high it is.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927147)



Reply Favorite

Date: December 15th, 2017 1:37 PM
Author: Floppy point national security agency

Multifamily and NNN commercial. Cap rates suck right now but rents keep going up. As long as you buy young and hold for decades you can't really overpay. LA real estate will double again in 10 years anyways.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927745)



Reply Favorite

Date: December 15th, 2017 12:27 PM
Author: razzmatazz boiling water school

congratulations bro

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927204)



Reply Favorite

Date: December 15th, 2017 1:11 PM
Author: fragrant cerise hairy legs

180, congrats.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927534)



Reply Favorite

Date: December 15th, 2017 1:23 PM
Author: Pungent amber indian lodge

Damn, nice.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927621)



Reply Favorite

Date: December 15th, 2017 1:38 PM
Author: Cobalt Nofapping Locale Clown

Send our new shitfirm cases

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927752)



Reply Favorite

Date: December 15th, 2017 2:22 PM
Author: Fuchsia vengeful generalized bond

DESCRIBE your billable rate.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928088)



Reply Favorite

Date: December 15th, 2017 3:42 PM
Author: Pungent amber indian lodge

I will. Do you already know who I am, or would this out me?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928728)



Reply Favorite

Date: December 15th, 2017 3:46 PM
Author: Cobalt Nofapping Locale Clown

I have no clue who you are but I've met 10 xo poasters and would protect their identities with my life.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928769)



Reply Favorite

Date: December 15th, 2017 1:39 PM
Author: coiffed candlestick maker trailer park

180.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927756)



Reply Favorite

Date: December 15th, 2017 3:46 PM
Author: sable cocky shitlib hissy fit

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928764)



Reply Favorite

Date: December 15th, 2017 3:47 PM
Author: Sadistic histrionic temple famous landscape painting

what does your CRYPTOCOIN PORTFOLIO look like

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928785)



Reply Favorite

Date: December 15th, 2017 3:48 PM
Author: Floppy point national security agency

3 BTC and 25 ETH.

Not a lot but my basis is like 15K. I didn't get in until a couple months ago.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928791)



Reply Favorite

Date: December 15th, 2017 5:15 PM
Author: Low-t sneaky criminal

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929564)



Reply Favorite

Date: December 15th, 2017 5:19 PM
Author: Mint theatre

Excellent work man! I'm a solo that does some PI, and I really enjoy your threads. You still take questions on that throwaway?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929591)



Reply Favorite

Date: December 15th, 2017 5:33 PM
Author: big boltzmann quadroon

180 friend.

have you thought about buying up some residential property and renting it out to take advantage of the mortgage tax deduction? 180 way to take advantage of savings because the rent and property tax + interest more or less balance out.

if you leave a room vacant, you can claim it as a second house or something

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929717)



Reply Favorite

Date: December 15th, 2017 5:34 PM
Author: Emerald corner cuckoldry

so you "netted" 765K

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929737)



Reply Favorite

Date: December 15th, 2017 5:45 PM
Author: anal corn cake

"nutted"

http://autoadmit.com/thread.php?thread_id=2521977&mc=129&forum_id=2

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929823)



Reply Favorite

Date: December 15th, 2017 5:43 PM
Author: anal corn cake

Next year you have to make a lot more to net the same amount with the new tax bill. Yay!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929810)



Reply Favorite

Date: December 15th, 2017 6:55 PM
Author: Floppy point national security agency

Pass through income may be taxed at 20% next year. I would pay way less in taxes. I work my ass off, it's really shitty that I pay so much as it is.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34930275)



Reply Favorite

Date: December 15th, 2017 11:21 PM
Author: Swashbuckling lodge

last i heard the 20% break is not available for service professionals who earn over 500K (hard cliff)

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34931985)



Reply Favorite

Date: December 16th, 2017 9:12 AM
Author: Buck-toothed french chef

Yep

Edit: 315k now

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933932)



Reply Favorite

Date: December 15th, 2017 6:56 PM
Author: Iridescent unhinged resort

incredible and you deserve it for your hustle. congrats.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34930279)



Reply Favorite

Date: December 15th, 2017 11:22 PM
Author: frisky roommate

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34931998)



Reply Favorite

Date: December 15th, 2017 11:25 PM
Author: Swashbuckling lodge

you need a better CPA if he's not suggesting tax strategies. there is a lot of shit you can do.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932021)



Reply Favorite

Date: December 16th, 2017 12:48 AM
Author: Floppy point national security agency

Give me some ideas. I read a lot about taxes and it seems like my CPA is doing all the right things.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932589)



Reply Favorite

Date: December 16th, 2017 10:51 AM
Author: Floppy point national security agency

Anyone?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934334)



Reply Favorite

Date: December 16th, 2017 11:07 AM
Author: Contagious internet-worthy brunch hominid

Captive insurance. Deduct premium you pay to your own insurance company as a current year expense. Premium in the insurance company for the first year it is in is restricted to what it can be invested in, but after 1 year, you can invest it in real estate or whatever you want. If you ever want to redeem cash from the insurance company, you take it as capital gains instead of ordinary income on your taxes, so you have converted ordinary income into long term capital gains.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934421)



Reply Favorite

Date: December 16th, 2017 11:10 AM
Author: Floppy point national security agency

How much can I dump into that in a year?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934431)



Reply Favorite

Date: December 16th, 2017 11:16 AM
Author: Contagious internet-worthy brunch hominid

1.2 million or something like that. Need to hire a reputable accounting firm (there are a few), cost is about 5% of amount you put in due to setup/fees/audit protection.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934450)



Reply Favorite

Date: December 16th, 2017 11:18 AM
Author: Floppy point national security agency

Interesting, I'll look into that. Thanks.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934459)



Reply Favorite

Date: December 16th, 2017 11:33 AM
Author: Contagious internet-worthy brunch hominid

There's a financial guy I know in LA that probably does it or has a contact that sets them up all the time. What is your email, I can send you his info.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934533)



Reply Favorite

Date: December 16th, 2017 11:37 AM
Author: Floppy point national security agency

calishitlawguru@gmail.com.

Really appreciate this brother.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934560)



Reply Favorite

Date: December 16th, 2017 11:39 AM
Author: Floppy point national security agency



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934569)



Reply Favorite

Date: December 16th, 2017 11:42 AM
Author: Contagious internet-worthy brunch hominid

Let me check with him first and get back to you. Probably too late in the year to actually execute this year, but can set you up for next year especially given your momentum and projections into next year.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934580)



Reply Favorite

Date: April 1st, 2018 8:15 PM
Author: Up-to-no-good affirmative action hell

Notice to any poasters who may find this subthread while considering captive insurance:

http://www.autoadmit.com/thread.php?thread_id=3933697&forum_id=2#35739012

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#35739068)



Reply Favorite

Date: December 16th, 2017 9:15 AM
Author: Buck-toothed french chef

Pouring money into real estate sounds exhausting

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933942)



Reply Favorite

Date: December 16th, 2017 10:51 AM
Author: Floppy point national security agency

There aren't that many places to pour money into for passive income.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934337)



Reply Favorite

Date: December 16th, 2017 11:02 AM
Author: Buck-toothed french chef

No doubt. Just seems like a fuckton of work for the near future.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934390)



Reply Favorite

Date: December 16th, 2017 9:23 AM
Author: self-centered glittery set masturbator

How did you build your PI practice without marketing brother? That seems to be the one area where advertising is everything

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933974)



Reply Favorite

Date: December 16th, 2017 10:55 AM
Author: Floppy point national security agency

1. Be friendly to everyone you meet, let them know what you do, let them know how to reach you (business cards), and tell them a quick interesting story about a cool case. This is hard if you don't have social skills but it can be learned with practice. Almost identical to PUA skills. It's all a numbers game. If you talk to 10,000 people and 1% hires you, that's 100 clients. I even handed out some business cards at the XO meeting in LA a week ago (not to everyone though since a lot of them already had my contact info).

2. Do great work for your clients. Be responsive, professional, and make sure they love you when the case is done.

3. Give your clients your cell phone number and make them feel like family. I become very close with all my clients and talk to them like a friend, not their lawyer. When they refer me people they talk about me as not only a lawyer but a good person. Makes people excited to hire me.

This is pretty much all you need to do. Most attorneys treat their clients like shit, are impossible to reach, and do shitty work. It's really not that hard to stand out.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934354)



Reply Favorite

Date: December 16th, 2017 11:22 AM
Author: Buck-toothed french chef

This is all credited advice whether you are shitlaw or biglaw. I am nice to everyone and tell everyone what I do. I’m biglaw so 99% of what comes my way I can’t take but I refer it out to my solo buddies.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934474)



Reply Favorite

Date: December 17th, 2017 9:39 AM
Author: Floppy point national security agency

Do your solo friends give you referral fees? I know some big firms discourage that.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34940779)



Reply Favorite

Date: December 17th, 2017 10:31 AM
Author: Buck-toothed french chef

They would but Firm does not allow referral fees unless we actually work the case. Its cool though, I’ve had it come back to me. I currently have a complex commercial case that one of my bros referred me that’s in pre-lit stage.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34941029)