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Finished 2017 tax projections: netted $1.326 mil (CSLG)
| Poppy Out-of-control Blood Rage | 12/15/17 |
| Provocative range | 12/15/17 |
| Razzle self-absorbed french chef dog poop | 12/16/17 |
| aromatic umber station sound barrier | 12/15/17 |
| mustard disrespectful spot police squad | 12/15/17 |
| Azure potus | 12/15/17 |
| Anal Roommate Pistol | 12/15/17 |
| mustard disrespectful spot police squad | 12/15/17 |
| Anal Roommate Pistol | 12/15/17 |
| mustard disrespectful spot police squad | 12/15/17 |
| Anal Roommate Pistol | 12/15/17 |
| mustard disrespectful spot police squad | 12/15/17 |
| Anal Roommate Pistol | 12/15/17 |
| mustard disrespectful spot police squad | 12/15/17 |
| Poppy Out-of-control Blood Rage | 12/15/17 |
| mustard disrespectful spot police squad | 12/15/17 |
| Poppy Out-of-control Blood Rage | 12/15/17 |
| beady-eyed immigrant national | 12/15/17 |
| Poppy Out-of-control Blood Rage | 12/15/17 |
| beady-eyed immigrant national | 12/15/17 |
| twinkling bawdyhouse striped hyena | 12/15/17 |
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| Poppy Out-of-control Blood Rage | 12/15/17 |
| fishy outnumbered location | 12/15/17 |
| Nubile theater stage | 12/15/17 |
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| Azure potus | 12/15/17 |
| rambunctious thriller ticket booth legal warrant | 12/16/17 |
| Azure potus | 12/15/17 |
| Poppy Out-of-control Blood Rage | 12/15/17 |
| Azure potus | 12/15/17 |
| Poppy Out-of-control Blood Rage | 12/15/17 |
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| Arousing space | 12/16/17 |
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| Poppy Out-of-control Blood Rage | 12/15/17 |
| Bright Blathering Point Messiness | 12/15/17 |
| Poppy Out-of-control Blood Rage | 12/15/17 |
| Bright Blathering Point Messiness | 12/15/17 |
| Adventurous double fault | 12/15/17 |
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| Sticky Sapphire Senate Twinkling Uncleanness | 12/16/17 |
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| irradiated very tactful trust fund library | 04/09/18 |
| Burgundy institution jap | 04/09/18 |
| godawful wine friendly grandma | 12/15/17 |
| autistic passionate market giraffe | 12/15/17 |
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| rambunctious thriller ticket booth legal warrant | 12/15/17 |
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Poast new message in this thread
Date: December 15th, 2017 11:20 AM Author: Poppy Out-of-control Blood Rage 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. |
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Date: December 15th, 2017 1:08 PM Author: Provocative range 180 bro!
You deserve it! |
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Date: December 16th, 2017 11:40 AM Author: Razzle self-absorbed french chef dog poop You're still young! You can make it at any age! (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934570) |
Date: December 15th, 2017 11:23 AM Author: aromatic umber station sound barrier 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) |
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Date: December 15th, 2017 11:24 AM Author: mustard disrespectful spot police squad Introducing the XO winery: Chateau 180. (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926715) |
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Date: December 15th, 2017 11:33 AM Author: Azure potus (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926807) |
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Date: December 15th, 2017 11:40 AM Author: Anal Roommate Pistol 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) |
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Date: December 15th, 2017 11:42 AM Author: mustard disrespectful spot police squad Hard Fork Cider (a subsidiary of Crypto Gainz LP) (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926867) |
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Date: December 15th, 2017 11:44 AM Author: Anal Roommate Pistol 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. |
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Date: December 15th, 2017 11:45 AM Author: mustard disrespectful spot police squad 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) |
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Date: December 15th, 2017 11:47 AM Author: Anal Roommate Pistol 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? |
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Date: December 15th, 2017 11:49 AM Author: mustard disrespectful spot police squad Yeah. Apparently I've been having the TTT overly sweet kind. (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926923) |
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Date: December 15th, 2017 12:05 PM Author: Anal Roommate Pistol Cali Dunkin Donuts Guru (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927036) |
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Date: December 15th, 2017 11:23 AM Author: mustard disrespectful spot police squad 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) |
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Date: December 15th, 2017 11:27 AM Author: Poppy Out-of-control Blood Rage 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) |
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Date: December 15th, 2017 11:29 AM Author: mustard disrespectful spot police squad 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. |
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Date: December 15th, 2017 11:32 AM Author: Poppy Out-of-control Blood Rage 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) |
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Date: December 15th, 2017 11:24 AM Author: beady-eyed immigrant national 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? |
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Date: December 15th, 2017 11:28 AM Author: Poppy Out-of-control Blood Rage 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) |
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Date: December 15th, 2017 12:03 PM Author: beady-eyed immigrant national not Cali but Federal Court. (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927017) |
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Date: December 15th, 2017 11:25 AM Author: twinkling bawdyhouse striped hyena 180 (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926735) |
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Date: December 15th, 2017 11:25 AM Author: fishy outnumbered location 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 |
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Date: December 15th, 2017 11:28 AM Author: Poppy Out-of-control Blood Rage 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) |
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Date: December 15th, 2017 12:05 PM Author: fishy outnumbered location Make your next property your home office
Can also deduct electricity, garbage etc |
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Date: December 15th, 2017 11:31 AM Author: Nubile theater stage 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) |
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Date: December 15th, 2017 11:32 AM Author: Poppy Out-of-control Blood Rage Yes, without a lawsuit. (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926800) |
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Date: December 15th, 2017 11:32 AM Author: Azure potus 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) |
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Date: December 15th, 2017 11:34 AM Author: Poppy Out-of-control Blood Rage 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) |
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Date: December 15th, 2017 11:39 AM Author: disturbing theatre Pro tip: do not under any circumstances move to Austin (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926839) |
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Date: December 15th, 2017 11:40 AM Author: Poppy Out-of-control Blood Rage Why not? (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926850) |
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Date: December 15th, 2017 11:41 AM Author: Azure potus 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) |
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Date: December 16th, 2017 9:22 AM Author: rambunctious thriller ticket booth legal warrant (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933965) |
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Date: December 15th, 2017 11:41 AM Author: Azure potus 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) |
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Date: December 15th, 2017 11:42 AM Author: Poppy Out-of-control Blood Rage 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) |
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Date: December 15th, 2017 11:44 AM Author: Azure potus eh, fair enough. Like LA in general? (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926878) |
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Date: December 15th, 2017 11:51 AM Author: Poppy Out-of-control Blood Rage 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) |
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Date: December 15th, 2017 4:10 PM Author: lavender scourge upon the earth site Jesus. Keep your voice down. Earl might hear you. (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928992) |
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Date: December 16th, 2017 10:56 AM Author: Arousing space (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934361) |
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Date: December 15th, 2017 11:34 AM Author: Nubile theater stage And probably crushes the income.
Isn't California plaintiff friendly? |
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Date: December 15th, 2017 11:35 AM Author: Poppy Out-of-control Blood Rage Best state in the nation for PI. (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926818) |
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Date: December 15th, 2017 11:34 AM Author: racy coldplay fan stain YNY get that hustle
congrats |
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Date: December 15th, 2017 11:40 AM Author: Exciting Pearly Gunner Native 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) |
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Date: December 15th, 2017 11:42 AM Author: Poppy Out-of-control Blood Rage 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) |
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Date: December 15th, 2017 12:13 PM Author: Scarlet hyperactive temple boiling water Why do you think they did shitty work? Lack of responsiveness? (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927092) |
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Date: December 15th, 2017 2:02 PM Author: Poppy Out-of-control Blood Rage Both. (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927915) |
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Date: December 15th, 2017 11:42 AM Author: Azure potus 180, congrats. (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926868) |
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Date: December 15th, 2017 11:44 AM Author: Sticky Sapphire Senate Twinkling Uncleanness holy shit congrats (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926888) |
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Date: December 15th, 2017 11:46 AM Author: laughsome brass karate queen of the night 180 man (http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926903) |
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Date: December 15th, 2017 11:55 AM Author: vigorous flesh national security agency therapy 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 |
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Date: December 15th, 2017 12:04 PM Author: Poppy Out-of-control Blood Rage I actually JUST did that right now. I paid 130K for 2018 literally 30 seconds ago.
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Date: December 15th, 2017 12:14 PM Author: vigorous flesh national security agency therapy 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: Bright Blathering Point Messiness 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: Poppy Out-of-control Blood Rage 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: Bright Blathering Point Messiness 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: Poppy Out-of-control Blood Rage 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: Bright Blathering Point Messiness 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: Adventurous double fault (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: autistic passionate market giraffe (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: Scarlet hyperactive temple boiling water (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: Trip Sanctuary Nibblets (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: high-end principal's office (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: swashbuckling piazza 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: Underhanded drunken locus hunting ground (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: godawful wine friendly grandma (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: flushed self-centered whorehouse (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: Sticky Sapphire Senate Twinkling Uncleanness (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: Violet tanning salon (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: boyish school cafeteria roast beef (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: irradiated very tactful trust fund library (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: Burgundy institution jap (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: godawful wine friendly grandma 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: autistic passionate market giraffe 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: startling mewling plaza pozpig 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: rambunctious thriller ticket booth legal warrant (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: vigorous flesh national security agency therapy 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: Poppy Out-of-control Blood Rage 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: Adventurous double fault 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: Milky alcoholic kitchen 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: Blue pungent fortuitous meteor property 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: Scarlet hyperactive temple boiling water 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: Nubile theater stage 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: Blue pungent fortuitous meteor property 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: Scarlet hyperactive temple boiling water 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: mahogany frozen psychic 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: dashing water buffalo 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: Navy Church Mood 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: Poppy Out-of-control Blood Rage 3 BTC and 25 ETH.
Not a lot but my basis is like 15K. I didn't get in until a couple months ago. |
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Date: December 15th, 2017 5:15 PM Author: swashbuckling piazza 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: black overrated pocket flask area 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: Bearded Flickering Church Building 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 |
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Date: December 15th, 2017 5:34 PM Author: Fragrant multi-billionaire business firm 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: Zippy corner really tough guy "nutted"
http://autoadmit.com/thread.php?thread_id=2521977&mc=129&forum_id=2 |
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Date: December 15th, 2017 5:43 PM Author: Zippy corner really tough guy 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: Poppy Out-of-control Blood Rage 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: boyish school cafeteria roast beef 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: razzmatazz submissive wrinkle den Yep
Edit: 315k now |
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Date: December 15th, 2017 6:56 PM Author: Lascivious Meetinghouse Black 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: godawful wine friendly grandma 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: boyish school cafeteria roast beef 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: Poppy Out-of-control Blood Rage 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: Poppy Out-of-control Blood Rage 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: seedy naked private investor 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: Poppy Out-of-control Blood Rage 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: seedy naked private investor 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: Poppy Out-of-control Blood Rage 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: seedy naked private investor 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: Poppy Out-of-control Blood Rage calishitlawguru@gmail.com.
Really appreciate this brother. |
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Date: December 16th, 2017 11:39 AM Author: Poppy Out-of-control Blood Rage (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: seedy naked private investor 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: multi-colored alcoholic cuckold 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 |
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Date: December 16th, 2017 9:15 AM Author: razzmatazz submissive wrinkle den 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: Poppy Out-of-control Blood Rage 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: razzmatazz submissive wrinkle den 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: Hideous concupiscible weed whacker partner 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: Poppy Out-of-control Blood Rage 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. |
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Date: December 16th, 2017 11:22 AM Author: razzmatazz submissive wrinkle den 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: Poppy Out-of-control Blood Rage 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: razzmatazz submissive wrinkle den 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) |