Getting some get back: let's talk about hacking/taking advantage or credit card rewards

bnew

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No I have an accountant do those because it’s complicated. For one thing tax dates are based of the end of fiscal year you set when you form it so you have to be on top of that. For example my end fiscal year is December 31st so the LLC still has to file for this year. I’m not an expert on this side though so I would talk to an accountant.
Another thing is you want someone to go over the things you’re trying to write off so they’ll help you understand if you can.
This is a pretty good guide on buying stocks with an LLC. It’s similar to individual but there’s more paperwork to go through
Setting Up An LLC For Investing: Why And Where To Start

how much do accountants typically charge for that ?
 

humminbird

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how much do accountants typically charge for that ?
last year I paid $500 for the accountant.
I use turbotax on myself so i don't know if that's high or low.
My LLC was new so there wasn't a lot of paperwork and I never sold stock I just bought and held.
I also don't have employees so I didn't have to worry about that either.

This year the price will probably go up because I made money from it and sold some stock so I have capital gains on it. I'll tell you how it goes.
 

KingBeez

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I currently have 2 credit cards (discover & chase). Its better to spread out your credit utilization across 2-3 cards than just 1, as any utilization rate over 30% is frowned upon by creditors.

I pay the bill for restaurants and vacations with my cc, so I can get cash back from my friends. They think that I’m generous, but I’m really getting 2x reward points on food and travel purchases :banderas:


High yield savings accounts are clutch. They tend to have a higher APY with online banks, but my local credit union offers 3% interest with their money market savings account, which is insane. Compare that to a standard bank like chase, which offers an APY of 0.01%. If most of your money is in checking, you losing.

A great travel rewards card I currently have chase sapphire preferred (5x Lyft, 2x travel and food rewards), but I’m thinking of switching to reserve (10x Lyft, 3x travel and food rewards) once travel is safer. That $550 annual fee is :huhldup: but it comes with a yearly $300 travel credit, $100 value global entry/TSA precheck credit, and a $60 DoorDash credit, so your net spending is $90 compared to chase preferred, which is $95 a year without any of that.
 

Knowledge

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First u said shell company now you’re saying SHELF company. I tried to google shell company and all I got was SHELF company.

Did you just google this stuff too or do u have some firsthand Knowledge
Again :beli:

A shell company is a business that's created to hold funds and manage another entity's financial transactions. Unlike traditional companies, shell corporations don't have employees and aren't traded on exchanges.

A shelf corporation, shelf company, or aged corporation is a company or corporation that has had no activity. It was created and left with no activity – metaphorically put on the "shelf" to "age".

They are both pretty much one in the same. I said what I said. This is the last time I'm holding you nikkas hands in here when you can easily find this shyt out. I'm dapping you anyways since that's what you're after in the first place.
 

LiIZaneFan1978

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Again :beli:

A shell company is a business that's created to hold funds and manage another entity's financial transactions. Unlike traditional companies, shell corporations don't have employees and aren't traded on exchanges.

A shelf corporation, shelf company, or aged corporation is a company or corporation that has had no activity. It was created and left with no activity – metaphorically put on the "shelf" to "age".

They are both pretty much one in the same. I said what I said. This is the last time I'm holding you nikkas hands in here when you can easily find this shyt out. I'm dapping you anyways since that's what you're after in the first place.

nikka YOU made the thread.

“Hey guys a cac taught me how to buy shell companies and use their credit”

“How?”

“Google it I ain’t holding you nikkas hands”

Foh boy
 

Knowledge

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nikka YOU made the thread.

“Hey guys a cac taught me how to buy shell companies and use their credit”

“How?”

“Google it I ain’t holding you nikkas hands”

Foh boy
:russ::mjlol:

Ole shell companies don't come up in my google search so you must of made it up ass nikka. Next time bring something of quality to the discussion before you display your ignorance again
 

LiIZaneFan1978

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:russ::mjlol:

Ole shell companies don't come up in my google search so you must of made it up ass nikka. Next time bring something of quality to the discussion before you display your ignorance again

u getting emotional and defensive because u can’t explain these concepts goofy. U can’t explain them because you don’t understand them. If you really had a blueprint for this you’d be happy to share. You just know a few buzzwords and some shyt a cac told u.
 

Knowledge

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u getting emotional and defensive because u can’t explain these concepts goofy. U can’t explain them because you don’t understand them. If you really had a blueprint for this you’d be happy to share. You just know a few buzzwords and some shyt a cac told u.
:mjlol:
Come into threads trying to pull someone's card, only to get hoed in the end brehs.
 

LeVraiPapi

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Yeah I have an LLC that I have most of my cards on
You can hold a balance in them and it won’t report to your personal credit as long as you pay on time
Best cards for this are chase and Amex imo

Which Amex you got breh?
 

jwall123

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I currently have 2 credit cards (discover & chase). Its better to spread out your credit utilization across 2-3 cards than just 1, as any utilization rate over 30% is frowned upon by creditors.

I pay the bill for restaurants and vacations with my cc, so I can get cash back from my friends. They think that I’m generous, but I’m really getting 2x reward points on food and travel purchases :banderas:


High yield savings accounts are clutch. They tend to have a higher APY with online banks, but my local credit union offers 3% interest with their money market savings account, which is insane. Compare that to a standard bank like chase, which offers an APY of 0.01%. If most of your money is in checking, you losing.

A great travel rewards card I currently have chase sapphire preferred (5x Lyft, 2x travel and food rewards), but I’m thinking of switching to reserve (10x Lyft, 3x travel and food rewards) once travel is safer. That $550 annual fee is :huhldup: but it comes with a yearly $300 travel credit, $100 value global entry/TSA precheck credit, and a $60 DoorDash credit, so your net spending is $90 compared to chase preferred, which is $95 a year without any of that.

Was gonna move to that Reserve this year. Then Corona ass said fukk yo travel plans. Glad I didn't. I would be mad as shyt paying that 550 and not be able to get some of the benefits... That 3x just isn't enough to take the plunge.
 
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