And my point is better than not doing well means what exactly?
The average business owner makes around 60k a year.
- Thread starter Brolic
- Start date
Greenhornet
A God Among Kings
alot of terrible advice and people lying in here
this thread is direct evidence that nikkas are broke as fukk on here
no matter how you try to explain money and ways to build it, some people will never understand. Also if you look at the "average" business owner... you are taking bullshyt from a large pool of very shoddy places and off the charts profit realizations and location
nothing in here is based on a true reality of what happens in the world
stack your money, save your money and invest it into something with high interest... and let it sit while you continue to get and bank away more money. nikkas want money by tomorrow and throw out these wacky gambling means of doing it and that's how you know they are idiots. The more money you save... the more interest you gain and the more freedom you have.
also dont judge your goals and limits based on another person whos dreaming. You have to set a goal of where you are free and when you are comfortable....once you hit that... its all extra. If you are like the one dude in here and making over 100k a year and still fukking it up and giving bad advice ... then you fukked up... you didnt plan your money or understand it in the first place. You also arent thinking long term and investing. Stock market can be utilized once you already have set money and are comfortable. Its basically gambling. If you want to play it safe and take it slow... why not just go for a better option with better interest rate and wait the same way? I get shocked when I talk to people who just squander money and actually make a decent amount... they throw away alot that could be utilized long term and start living above their means. If you make the 60k and dont spend much... thats better than making 120k and spending 100k ... things only work out if you know what you are doing.... you could easily take the 120k and invest it and straight up live off the profit a few years down the line ... the more interest it gains... the more you get that year over and over and you are living off more and more interest. Everything you do outside of that becomes extra and you just let the dough sit. You can do this at a smaller level too if you actually work and do it. You get one thing and then save towards the second... use the second thing to pay for the first thing and you break even eventually.
this thread is direct evidence that nikkas are broke as fukk on here
no matter how you try to explain money and ways to build it, some people will never understand. Also if you look at the "average" business owner... you are taking bullshyt from a large pool of very shoddy places and off the charts profit realizations and location
nothing in here is based on a true reality of what happens in the world
stack your money, save your money and invest it into something with high interest... and let it sit while you continue to get and bank away more money. nikkas want money by tomorrow and throw out these wacky gambling means of doing it and that's how you know they are idiots. The more money you save... the more interest you gain and the more freedom you have.
also dont judge your goals and limits based on another person whos dreaming. You have to set a goal of where you are free and when you are comfortable....once you hit that... its all extra. If you are like the one dude in here and making over 100k a year and still fukking it up and giving bad advice ... then you fukked up... you didnt plan your money or understand it in the first place. You also arent thinking long term and investing. Stock market can be utilized once you already have set money and are comfortable. Its basically gambling. If you want to play it safe and take it slow... why not just go for a better option with better interest rate and wait the same way? I get shocked when I talk to people who just squander money and actually make a decent amount... they throw away alot that could be utilized long term and start living above their means. If you make the 60k and dont spend much... thats better than making 120k and spending 100k ... things only work out if you know what you are doing.... you could easily take the 120k and invest it and straight up live off the profit a few years down the line ... the more interest it gains... the more you get that year over and over and you are living off more and more interest. Everything you do outside of that becomes extra and you just let the dough sit. You can do this at a smaller level too if you actually work and do it. You get one thing and then save towards the second... use the second thing to pay for the first thing and you break even eventually.
You make what you net, just with clever accounting you can pay less in taxes.
We need smilies again
The first sign someone don’t know a damn thing they talking about is when they discuss “writing stuff off” smh
Writing sh*t off isn’t some magical path to money. All it does is decrease your tax liability, and you still gotta pay taxes at some point my G.
You can make 60k, write off 10k of stuff and still owe 5k, meaning you really took home 55k…
Also your bookkeeper/cpa is not just writing off anything you idiots. They gonna make you show and prove that your expenses are necessary for the business, because if not, your bank statements will show that you have a personal piggy bank and no seperation, so good luck on that business line of credit my G
Under no circumstances is 120k 9-5 with health insurance and 401k not a better option by far than some 60k LLC
How TF is this even a discussion
Reno89
All Star
I hate to say it, but Jason black said it best. "most small business owners out here are doing nothing more than simply buying a job"
Ezekiel 25:17
Veteran
Ya' Cousin Cleon
OG COUCH CORNER HUSTLA
I'm not doing this with you today lol you got it
Ezekiel 25:17
Veteran
Working a 9 to 5, becoming good at it, and then starting your own business is too much work and too hard. Why do all that when you can a LLC?
Ezekiel 25:17
Veteran
You can't argue against what i said.
Not every has terrible spending habits like you breh. Not everybody gotta be in the glitz and glam of the city. A lot of folks are lowkey millionaires and you'd never know looking at they house and Toyota.
Im in a similar situation but how are you managing to write off 100% of the income?
Maybe im not being aggressive enough with my deductions.
The classic mistake you are making is that you are good with that for the first 2-3 years. Afterwards, you have to start showing that your business is profitable, and it is profitable because you are paying taxes. You should be in the red or near it the first few years, because you are building it, so your write-off expenses can cover your tax debt, but you can’t do that year after year and not catch an audit or tax bill that will then affect your personal finances, because the non educated don’t know that if they think you are writing off sh!t to avoid taxes, you will be treated like a personal tax cheat and your write-offs mean nothing at all. This is how the mafia and criminal orgs and tax cheats would avoid paying taxes, many many years ago, so that stuff doesn’t fly.
Do me a favor. Take your PAL sheets to a reputable tax/bookkeeper and let them review and tell you if you’re on the right track or not.
I do this in real life, in a major way, and in genuinely trying to help you. Don’t let Twitter LLC tell you to write off G-wagons or no stupid sh!t like that lol…
People on social media are acting like you can ball out and go on vacations whenever you want with an LLC.
Im content making more than 60k working a 9-5 for @Another Man.
I absolutely can argue what you said but you routinely make silly statements about finances/COL so you got it.