The benefits of having an LLC

[Ethnic Vagina Finder]

You can legally hide money, as long as you disguise it was business revenue.


The government can garnish a business bank account to collect personal debt. This includes the IRS and child support.


You can also collect unemployment and still make money as a 1099 as the money will be reported to your EIN instead of your SSN.


The caveat is when you file your taxes, file as an S Corp instead of sole proprietor, or none of this will work

 

[NoMorePie]

Thanks I'll try this right now

 

[Freedman]

Listen if you want brehs last coli breh that was giving shiesty financial advice is currently doing a bid in the feds


Free @Don Diego

 

[humminbird]

Thanks I'll try this right now

 

[Ethnic Vagina Finder]

Thanks I'll try this right now

you have to be making enough money to make it worth your while. If your making $13 an hour frying chicken at Popeyes, this ain’t for you. But if you have a legit business or are a 1099 working, it’s something worth exploring. Full time Uber driving is a perfect example.

 

[Paper Boi]

say hi to don diego for me when you get indicted

 

[NoMorePie]

you have to be making enough money to make it worth your while. If your making $13 an hour frying chicken at Popeyes, this ain’t for you. But if you have a legit business or are a 1099 working, it’s something worth exploring. Full time Uber driving is a perfect example.

Thanks I'll try it tomorrow then

 

[Apollo Creed]

You can legally hide money, as long as you disguise it was business revenue.


The government can garnish a business bank account to collect personal debt. This includes the IRS and child support.


You can also collect unemployment and still make money as a 1099 as the money will be reported to your EIN instead of your SSN.


The caveat is when you file your taxes, file as an S Corp instead of sole proprietor, or none of this will work

you're mentioning govt garnishing the business account as a pro?

 

[Tunez]

Done.


TunezLLC

 

[1thouwow]

I owe taxes this year. I’m behind the curve

 

[humminbird]

Thanks I'll try it tomorrow then

 

[Big Blue]

Why do people complicate this so much?

LLC means that you can financially defer debts to the company and not yourself personally.
If your business fails, damn, but you can still buy a house.

But people don't realize that you can almost never go public without a VC to buy you out

Do you know how much it takes to file an LLC in NY if you have a 500K income??? 500 dollars

The proliferation of LLCs as a gift is crazy. The mentality but the sheer gesture?? It's so lame that people going viral for offering it as something special

 

[horizon]

@Feds

 

[bourgeoisie tall freak]

Why do people complicate this so much?

LLC means that you can financially defer debts to the company and not yourself personally.


The proliferation of LLCs as a gift is crazy. The mentality but the sheer gesture?? It's so lame that people going viral for offering it as something special

people need to also learn the concept of "piercing the corporate veil".... if you are spending all the corporations money like it's yours then you can be found personally liable.

 

[Aquarius Snake]

I spoke with a guy the other day who did this LLC bs to “flip houses” and he purchased a home, jewelry and a truck and can’t afford his mortgage payments, let alone the business AMEX and other cards he’s about to get sued over.



It sounds good until you realize that a paper trail still leads to you and you gotta pay for all the shyt you bought on credit. Proceed with caution brehs.

Goofy nikka tried to tell me GOD wasn’t going to let him lose all of the things he bought under his LLC. nikka makes $4K a month but his minimum payments are damn near $2K for just the credit cards.