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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...
Bearded Alpha Corner
  12/15/17
180 bro! You deserve it!
umber mewling wagecucks
  12/15/17
You're still young! You can make it at any age!
multi-colored zippy center brethren
  12/16/17
Coppin' the right kind of investment RE will possibly let yo...
onyx thirsty shitlib volcanic crater
  12/15/17
Introducing the XO winery: Chateau 180.
Cracking burgundy box office
  12/15/17
...
Exciting stain senate
  12/15/17
There was a thread a few months ago where we were talking ab...
Laughsome puce coffee pot
  12/15/17
Hard Fork Cider (a subsidiary of Crypto Gainz LP)
Cracking burgundy box office
  12/15/17
That just sounds like 4 loko in cider form. This was more li...
Laughsome puce coffee pot
  12/15/17
Interesting idea re ice wine. I'd think it would be, mechani...
Cracking burgundy box office
  12/15/17
I am guessing there is an issue b/c apples are denser and ha...
Laughsome puce coffee pot
  12/15/17
Yeah. Apparently I've been having the TTT overly sweet kind....
Cracking burgundy box office
  12/15/17
Cali Dunkin Donuts Guru
Laughsome puce coffee pot
  12/15/17
Biz. development deduction? Asset that generates impairment ...
Cracking burgundy box office
  12/15/17
The biggest issue is that I keep my overhead extremely low. ...
Bearded Alpha Corner
  12/15/17
That party you threw alone you had to hire the MC who charge...
Cracking burgundy box office
  12/15/17
Lol. My party was about $3,000 with everything. My friend ow...
Bearded Alpha Corner
  12/15/17
I'm hoping for between 750 and 1 mil next year. Congrats. Ru...
Lascivious Messiness Corn Cake
  12/15/17
Good luck. What city are you in? If LA who is the mediator? ...
Bearded Alpha Corner
  12/15/17
not Cali but Federal Court.
Lascivious Messiness Corn Cake
  12/15/17
180
Ultramarine tattoo office
  12/15/17
set up a home office (so dont pay off your house) and deduct...
Geriatric property
  12/15/17
Too late, I paid off my mortgage in March. I already deduct ...
Bearded Alpha Corner
  12/15/17
Make your next property your home office Can also deduct ...
Geriatric property
  12/15/17
What does pre-litigation mean here, without having to file s...
purple private investor
  12/15/17
Yes, without a lawsuit.
Bearded Alpha Corner
  12/15/17
Moving to TX fixes state income tax, and has lower COL as we...
Exciting stain senate
  12/15/17
But I would have no income. I guess I could just retire with...
Bearded Alpha Corner
  12/15/17
Pro tip: do not under any circumstances move to Austin
Vigorous balding preventive strike pozpig
  12/15/17
Why not?
Bearded Alpha Corner
  12/15/17
Buncha shitlibs and weird ass people. Also higher COL than e...
Exciting stain senate
  12/15/17
...
kink-friendly gaped den digit ratio
  12/16/17
nah wait awhile before moving. but do it eventually. Guns, l...
Exciting stain senate
  12/15/17
I would never move from LA. My house is paid off and I'll ha...
Bearded Alpha Corner
  12/15/17
eh, fair enough. Like LA in general?
Exciting stain senate
  12/15/17
I live in the San Fernando Valley. I hate the actual city. T...
Bearded Alpha Corner
  12/15/17
Jesus. Keep your voice down. Earl might hear you.
Saffron Excitant Really Tough Guy Public Bath
  12/15/17
...
Soul-stirring Market
  12/16/17
And probably crushes the income. Isn't California plain...
purple private investor
  12/15/17
Best state in the nation for PI.
Bearded Alpha Corner
  12/15/17
YNY get that hustle congrats
Motley circlehead
  12/15/17
how many solos do you know who have just flamed out of the p...
violet elite gas station
  12/15/17
I know several who flamed out and ended up as an associate s...
Bearded Alpha Corner
  12/15/17
Why do you think they did shitty work? Lack of responsivene...
canary glittery depressive crotch
  12/15/17
Both.
Bearded Alpha Corner
  12/15/17
180, congrats.
Exciting stain senate
  12/15/17
holy shit congrats
maroon cruel-hearted indian lodge dog poop
  12/15/17
180 man
Black cuckold church building
  12/15/17
Can you ask your CPA about paying your 2018 estimated CA sta...
adulterous bateful mad cow disease
  12/15/17
I actually JUST did that right now. I paid 130K for 2018 lit...
Bearded Alpha Corner
  12/15/17
180!
adulterous bateful mad cow disease
  12/15/17
Love hearing about the practice bro. I am sure you have addr...
submissive shrine background story
  12/15/17
Summered at a big firm 2L year. Hated it and got no offered ...
Bearded Alpha Corner
  12/15/17
What moment in your legal career are you most proud of? Some...
submissive shrine background story
  12/15/17
I settled a case for a bit over 2 million for a widow whose ...
Bearded Alpha Corner
  12/15/17
Incredible. Must have felt almost as good as when I caught t...
submissive shrine background story
  12/15/17
...
spruce hateful organic girlfriend
  12/15/17
...
Emerald bawdyhouse
  12/15/17
...
canary glittery depressive crotch
  12/15/17
...
aromatic jap
  12/15/17
...
thriller faggotry nibblets
  12/15/17
...
Frum chapel candlestick maker
  12/15/17
...
milky jew
  12/15/17
...
Gold haunting stead multi-billionaire
  12/15/17
...
Navy razzle-dazzle location
  12/16/17
...
maroon cruel-hearted indian lodge dog poop
  12/16/17
...
stirring menage hairy legs
  12/16/17
...
Sadistic glassy casino pervert
  12/17/17
...
mahogany big range milk
  04/09/18
...
Transparent locale
  04/09/18
180
Gold haunting stead multi-billionaire
  12/15/17
Congrats on the success, mang.
Emerald bawdyhouse
  12/15/17
Nice bro!
gay ungodly garrison gaping
  12/15/17
...
kink-friendly gaped den digit ratio
  12/15/17
What sort of RE are you looking to buy? Are you looking to ...
adulterous bateful mad cow disease
  12/15/17
Multifamily and NNN commercial. Cap rates suck right now but...
Bearded Alpha Corner
  12/15/17
congratulations bro
spruce hateful organic girlfriend
  12/15/17
180, congrats.
low-t floppy crackhouse
  12/15/17
Damn, nice.
passionate cobalt locus
  12/15/17
Send our new shitfirm cases
canary glittery depressive crotch
  12/15/17
DESCRIBE your billable rate.
purple private investor
  12/15/17
I will. Do you already know who I am, or would this out me?
passionate cobalt locus
  12/15/17
I have no clue who you are but I've met 10 xo poasters and w...
canary glittery depressive crotch
  12/15/17
180.
Coiffed space therapy
  12/15/17
180
mentally impaired keepsake machete theater stage
  12/15/17
what does your CRYPTOCOIN PORTFOLIO look like
Curious kitchen bbw
  12/15/17
3 BTC and 25 ETH. Not a lot but my basis is like 15K. I ...
Bearded Alpha Corner
  12/15/17
180
Frum chapel candlestick maker
  12/15/17
Excellent work man! I'm a solo that does some PI, and I real...
Titillating slippery becky school
  12/15/17
180 friend. have you thought about buying up some residen...
Cordovan station
  12/15/17
so you "netted" 765K
Beady-eyed son of senegal
  12/15/17
"nutted" http://autoadmit.com/thread.php?thread...
abnormal principal's office
  12/15/17
Next year you have to make a lot more to net the same amount...
abnormal principal's office
  12/15/17
Pass through income may be taxed at 20% next year. I would p...
Bearded Alpha Corner
  12/15/17
last i heard the 20% break is not available for service prof...
Sadistic glassy casino pervert
  12/15/17
Yep Edit: 315k now
Amber ticket booth round eye
  12/16/17
incredible and you deserve it for your hustle. congrats.
bistre skinny woman
  12/15/17
180
Gold haunting stead multi-billionaire
  12/15/17
you need a better CPA if he's not suggesting tax strategies....
Sadistic glassy casino pervert
  12/15/17
Give me some ideas. I read a lot about taxes and it seems li...
Bearded Alpha Corner
  12/16/17
Anyone?
Bearded Alpha Corner
  12/16/17
Captive insurance. Deduct premium you pay to your own insur...
naked stage factory reset button
  12/16/17
How much can I dump into that in a year?
Bearded Alpha Corner
  12/16/17
1.2 million or something like that. Need to hire a reputabl...
naked stage factory reset button
  12/16/17
Interesting, I'll look into that. Thanks.
Bearded Alpha Corner
  12/16/17
There's a financial guy I know in LA that probably does it o...
naked stage factory reset button
  12/16/17
calishitlawguru@gmail.com. Really appreciate this brother...
Bearded Alpha Corner
  12/16/17
...
Bearded Alpha Corner
  12/16/17
Let me check with him first and get back to you. Probably to...
naked stage factory reset button
  12/16/17
Notice to any poasters who may find this subthread while con...
Marvelous dingle berry partner
  04/01/18
Pouring money into real estate sounds exhausting
Amber ticket booth round eye
  12/16/17
There aren't that many places to pour money into for passive...
Bearded Alpha Corner
  12/16/17
No doubt. Just seems like a fuckton of work for the near fut...
Amber ticket booth round eye
  12/16/17
How did you build your PI practice without marketing brother...
orange razzmatazz antidepressant drug
  12/16/17
1. Be friendly to everyone you meet, let them know what you ...
Bearded Alpha Corner
  12/16/17
This is all credited advice whether you are shitlaw or bigla...
Amber ticket booth round eye
  12/16/17
Do your solo friends give you referral fees? I know some big...
Bearded Alpha Corner
  12/17/17
They would but Firm does not allow referral fees unless we a...
Amber ticket booth round eye
  12/17/17


Poast new message in this thread



Reply Favorite

Date: December 15th, 2017 11:20 AM
Author: Bearded Alpha Corner

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: umber mewling wagecucks

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: multi-colored zippy center brethren

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: onyx thirsty shitlib volcanic crater

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: Cracking burgundy box office

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: Exciting stain senate



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



Reply Favorite

Date: December 15th, 2017 11:40 AM
Author: Laughsome puce coffee pot

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: Cracking burgundy box office

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: Laughsome puce coffee pot

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: Cracking burgundy box office

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: Laughsome puce coffee pot

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: Cracking burgundy box office

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: Laughsome puce coffee pot

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: Cracking burgundy box office

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: Bearded Alpha Corner

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: Cracking burgundy box office

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: Bearded Alpha Corner

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: Lascivious Messiness Corn Cake

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: Bearded Alpha Corner

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: Lascivious Messiness Corn Cake

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: Ultramarine tattoo office

180

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



Reply Favorite

Date: December 15th, 2017 11:25 AM
Author: Geriatric property

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: Bearded Alpha Corner

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: Geriatric property

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: purple private investor

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: Bearded Alpha Corner

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: Exciting stain senate

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: Bearded Alpha Corner

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: Vigorous balding preventive strike pozpig

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: Bearded Alpha Corner

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: Exciting stain senate

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: kink-friendly gaped den digit ratio



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



Reply Favorite

Date: December 15th, 2017 11:41 AM
Author: Exciting stain senate

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: Bearded Alpha Corner

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: Exciting stain senate

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: Bearded Alpha Corner

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: Saffron Excitant Really Tough Guy Public Bath

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: Soul-stirring Market



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



Reply Favorite

Date: December 15th, 2017 11:34 AM
Author: purple private investor

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: Bearded Alpha Corner

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: Motley circlehead

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: violet elite gas station

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: Bearded Alpha Corner

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: canary glittery depressive crotch

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: Bearded Alpha Corner

Both.

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



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: Exciting stain senate

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: maroon cruel-hearted indian lodge dog poop

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: Black cuckold church building

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: adulterous bateful mad cow disease

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: Bearded Alpha Corner

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)



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Date: December 15th, 2017 12:14 PM
Author: adulterous bateful mad cow disease

180!

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



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Date: December 15th, 2017 11:59 AM
Author: submissive shrine background story

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)



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Date: December 15th, 2017 12:05 PM
Author: Bearded Alpha Corner

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)



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Date: December 15th, 2017 12:09 PM
Author: submissive shrine background story

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)



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Date: December 15th, 2017 12:11 PM
Author: Bearded Alpha Corner

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)



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Date: December 15th, 2017 12:15 PM
Author: submissive shrine background story

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)



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Date: December 15th, 2017 1:07 PM
Author: spruce hateful organic girlfriend



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



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Date: December 15th, 2017 1:12 PM
Author: Emerald bawdyhouse



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



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Date: December 15th, 2017 1:13 PM
Author: canary glittery depressive crotch



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



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Date: December 15th, 2017 1:46 PM
Author: aromatic jap



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



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Date: December 15th, 2017 1:49 PM
Author: thriller faggotry nibblets



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



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Date: December 15th, 2017 5:14 PM
Author: Frum chapel candlestick maker



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



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Date: December 15th, 2017 5:14 PM
Author: milky jew



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



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Date: December 15th, 2017 11:29 PM
Author: Gold haunting stead multi-billionaire



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



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Date: December 16th, 2017 9:04 AM
Author: Navy razzle-dazzle location



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



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Date: December 16th, 2017 9:05 AM
Author: maroon cruel-hearted indian lodge dog poop



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



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Date: December 16th, 2017 11:11 AM
Author: stirring menage hairy legs



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



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Date: December 17th, 2017 2:04 PM
Author: Sadistic glassy casino pervert



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



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Date: April 9th, 2018 12:58 AM
Author: mahogany big range milk



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



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Date: April 9th, 2018 12:58 AM
Author: Transparent locale



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



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Date: December 15th, 2017 11:29 PM
Author: Gold haunting stead multi-billionaire

180

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



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Date: December 15th, 2017 12:01 PM
Author: Emerald bawdyhouse

Congrats on the success, mang.

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



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Date: December 15th, 2017 12:02 PM
Author: gay ungodly garrison gaping

Nice bro!

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



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Date: December 15th, 2017 12:11 PM
Author: kink-friendly gaped den digit ratio



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



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Date: December 15th, 2017 12:20 PM
Author: adulterous bateful mad cow disease

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)



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Date: December 15th, 2017 1:37 PM
Author: Bearded Alpha Corner

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)



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Date: December 15th, 2017 12:27 PM
Author: spruce hateful organic girlfriend

congratulations bro

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



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Date: December 15th, 2017 1:11 PM
Author: low-t floppy crackhouse

180, congrats.

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



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Date: December 15th, 2017 1:23 PM
Author: passionate cobalt locus

Damn, nice.

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



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Date: December 15th, 2017 1:38 PM
Author: canary glittery depressive crotch

Send our new shitfirm cases

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



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Date: December 15th, 2017 2:22 PM
Author: purple private investor

DESCRIBE your billable rate.

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



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Date: December 15th, 2017 3:42 PM
Author: passionate cobalt locus

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)



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Date: December 15th, 2017 3:46 PM
Author: canary glittery depressive crotch

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)



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Date: December 15th, 2017 1:39 PM
Author: Coiffed space therapy

180.

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



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Date: December 15th, 2017 3:46 PM
Author: mentally impaired keepsake machete theater stage

180

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



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Date: December 15th, 2017 3:47 PM
Author: Curious kitchen bbw

what does your CRYPTOCOIN PORTFOLIO look like

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



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Date: December 15th, 2017 3:48 PM
Author: Bearded Alpha Corner

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)



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Date: December 15th, 2017 5:15 PM
Author: Frum chapel candlestick maker

180

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



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Date: December 15th, 2017 5:19 PM
Author: Titillating slippery becky school

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)



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Date: December 15th, 2017 5:33 PM
Author: Cordovan station

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)



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Date: December 15th, 2017 5:34 PM
Author: Beady-eyed son of senegal

so you "netted" 765K

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



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Date: December 15th, 2017 5:45 PM
Author: abnormal principal's office

"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)



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Date: December 15th, 2017 5:43 PM
Author: abnormal principal's office

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)



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Date: December 15th, 2017 6:55 PM
Author: Bearded Alpha Corner

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)



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Date: December 15th, 2017 11:21 PM
Author: Sadistic glassy casino pervert

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)



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Date: December 16th, 2017 9:12 AM
Author: Amber ticket booth round eye

Yep

Edit: 315k now

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



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Date: December 15th, 2017 6:56 PM
Author: bistre skinny woman

incredible and you deserve it for your hustle. congrats.

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



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Date: December 15th, 2017 11:22 PM
Author: Gold haunting stead multi-billionaire

180

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



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Date: December 15th, 2017 11:25 PM
Author: Sadistic glassy casino pervert

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)



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Date: December 16th, 2017 12:48 AM
Author: Bearded Alpha Corner

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)



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Date: December 16th, 2017 10:51 AM
Author: Bearded Alpha Corner

Anyone?

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



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Date: December 16th, 2017 11:07 AM
Author: naked stage factory reset button

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)



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Date: December 16th, 2017 11:10 AM
Author: Bearded Alpha Corner

How much can I dump into that in a year?

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



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Date: December 16th, 2017 11:16 AM
Author: naked stage factory reset button

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)



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Date: December 16th, 2017 11:18 AM
Author: Bearded Alpha Corner

Interesting, I'll look into that. Thanks.

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



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Date: December 16th, 2017 11:33 AM
Author: naked stage factory reset button

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)



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Date: December 16th, 2017 11:37 AM
Author: Bearded Alpha Corner

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: Bearded Alpha Corner



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



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Date: December 16th, 2017 11:42 AM
Author: naked stage factory reset button

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)



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Date: April 1st, 2018 8:15 PM
Author: Marvelous dingle berry partner

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)



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Date: December 16th, 2017 9:15 AM
Author: Amber ticket booth round eye

Pouring money into real estate sounds exhausting

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



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Date: December 16th, 2017 10:51 AM
Author: Bearded Alpha Corner

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)



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Date: December 16th, 2017 11:02 AM
Author: Amber ticket booth round eye

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)



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Date: December 16th, 2017 9:23 AM
Author: orange razzmatazz antidepressant drug

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)



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Date: December 16th, 2017 10:55 AM
Author: Bearded Alpha Corner

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)



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Date: December 16th, 2017 11:22 AM
Author: Amber ticket booth round eye

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)



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Date: December 17th, 2017 9:39 AM
Author: Bearded Alpha Corner

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)



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Date: December 17th, 2017 10:31 AM
Author: Amber ticket booth round eye

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)