attorneys cant be LLCs. no limited liability shields.

but yes.

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34465822)

some biglaw firm lawyers even have a ", P.C." after their name on their firm bios

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34465874)

Flow that shit through to an s-Corp, slide and let do

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34465929)

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34465935)

Might be wrong though, feel free to educate me

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466223)

Alvin J. Schwartz, P.C.

DLA PIPER P.C.

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34465937)

does every thanks email to the client have to say

thanks, morty PC

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466772)

i've seen "PLLC" sometimes. mfh doesnt have them

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466229)

Is this how xo proles think the rich live? Expensing all of their expenses and not paying taxes?

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466051)

i have no idea about cars, but every biglaw partner is writing off a portion of his westchester mansion as a "home office"

and they're all writing off every single meal and bar receipt. they're always with SOME buddy who is an attorney or potential client so it's arguably a biz meal. although there's only a 50% deduction.

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466136)

Lawyers are risk averse as fuck so I doubt most take deductions they have no defense of if audited.

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466540)

drinks w your law school buddy who is a partner at another firm = discussing cross-referrals, etc.

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466782)

A C-corp allows you as a company with one employee to create a health benefit plan which pays for 100% of the out of pocket expenses of the employee (me) and his spouse (my wife). So basically all co pays, glasses, sunglasses, and pharmacy stuff is purchased by the corporation.

you pay your car lease with your corporation, together with insurance and gas and maybe allocate 10% of the cost to personal use. After all my BMW is the company car. My wife's prius is the personal car. Gas for both cars goes on the corporate credit card.

I don't deduct my home office since I don't want to fuck around with my mortgage interest deduction.

The corporation does pay for home internet, cell phone plan, all cell phones, all tablets, all computer equipment, office furniture, a safe for all my guns plus some work papers, etc.

Corporation pays for 50% of all business meals which are basically all meals over $80.

Corporation pays for some travel - not vacations with wife to hawaii, but basically whenever I go anywhere there is a potential client to speak to and take to lunch.

I figure its good for $30K-35K in business expenses this year - which is low but I don't spend that much. My corporation pays me $160K in salary which covers the mortgage and all other living expenses. At the end of the year I will need to gross out the pay after taxes for the year and cut myself a check for the rest. On december 31 my c-corp closes its books with $0 profit and only the initial investment of $5,000 I made in the account.

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466669)

The fact that you end in a wash down to the initial investment does increase your audit risk though. They want to pwn you at the corporate level too.

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466691)

No professional corporation pays corporate tax. Except for the medical expenses I think all of those business expenses I could take without the corporation.

However, $35,000 in business expenses would probably put me in the top 10% of the individual filers, putting me at moderate audit risk. $35,000 in business expenses is probably the bottom 1% of C-corp expenses.

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466715)

I have both entities right now. An s-corporation that owns interest in several different partnerships so I pay a salary and flow the rest of the money through, and a c-corporation that owns my income properties. I like the idea of a health benefit plan because right now the c-corp is just sitting there with cash in the bank. Any other advice as a c-Corp haver?

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466751)

>>Corporation pays for some travel - not vacations with wife to hawaii, but basically whenever I go anywhere there is a potential client to speak to and take to lunch.

there are confs in hawaii all the fucking time. you can easily figure out how to write off your HI trips.

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466793)

lmao

(http://www.autoadmit.com/thread.php?thread_id=3767092&forum_id=2#34466994)