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How to lower tax liability...?

submitted by Cmonthisismyname to AskUpgoat 3.5 yearsOct 20, 2021 13:12:15 ago (+4/-0)     (AskUpgoat)

To 0.\r\nI\'m going to make the jump from employee to self-employed or employer. Do I bother with CCB? Do I go uncertified? Cash only?


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[ - ] Rotteuxx 4 points 3.5 yearsOct 20, 2021 13:40:19 ago (+4/-0)

Only declare what you must to look legit, cash for everything you can. Avoid employees, get subcontractors. Make sure you're insured for civil liability.

[ - ] AnonymousLex 3 points 3.5 yearsOct 20, 2021 14:17:25 ago (+3/-0)

Literally everything is a business expense with the exception of mileage to visit friends and family for leisure, and alcohol. Don't let anyone tell you otherwise. We didn't choose to have to make money so fuck them every breath is a for profit endeavor

Edit: also don't drink

[ - ] WhiteGoat 2 points 3.5 yearsOct 20, 2021 16:55:02 ago (+2/-0)

It's pretty easy to set up a LLC. You can do it online.

[ - ] mikenigger 2 points 3.5 yearsOct 20, 2021 13:37:04 ago (+2/-0)

it's called an accountant

[ - ] dontknowwhatiwant 1 point 3.5 yearsOct 20, 2021 17:53:41 ago (+1/-0)

If you have property, look into the legality of raising animals for the ag exemption. It saves me a TON of money raising my goats.