This year, I'm writing a check for nearly 50% of what I earned in 2020. I have it saved up in account, and I'm paying it in one lump sum to the government. It's a fucking brutal check. Imagine having 50% of your total yearly earnings in a bank account you have to give away.
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Do you think it’s worth it as a membership fee to be a US citizen?
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Consider it a discount for not having a high level of public services.
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Ok, and now prepare for when you're going to have to pay 90% for when the economic downfall of all the support programs will need to be funded.
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The 100% owned s-corp is nice. S-corp can have its own bank account and qualifying business expenses paid from that account tax free without comingling with your personal account.
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This is why so many pro wrestlers end up as libertarian politicans. They're all self employed contractors.
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this kind of makes sense. and Kanye West
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There are a lot of perks to owning your own business, if you know how to play the tax game. Lots of write-offs to run your business. You can set up Cash Balance Plans and Solo-401Ks to pay future you. Find a good CPA. They are worth their weight in gold.
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Just hope cali doesn't try to do as ny get that moving out tax
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I live in Austin and now have no state income tax, I would never make my permanent residence California because not only did they have state income tax, it's increments up the more you make.
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