Mountain Creek

[NMSKI]

Why's someone who makes a lot of $ gotta drive an expensive car? I'll never drive a luxury car because I don't need to show off.

 

 

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[poconoceancity]

I agree. I won't either.

[Ski2Live Live2Ski]

I am a lawyer who spends money prudently and prioritizes things like saving for retirement and for his kids college over driving a flashy car.

 

And also pays a lot of alimony for 9 more months and bought my first house this year.

 

College savings starts after alimony ends.

Edited December 7, 2016 by Ski2Live Live2Ski

[GrilledSteezeSandwich]

Most people don't care about having a fancy car I know I don't. Plus ski2live has two kids to pay for and alimony.

Average lawyer makes 134k, maybe he's below average.

Doubt that. Not in jersey right outside NYC. But remember people in that tax bracket are paying over 40% between state and federal taxes.

[indiggio]

Most people don't care about having a fancy car I know I don't.

That's why I have 2 Subaru's to get me to Blue when it snows and watch the luxury cars sit on the side of Mountain Dr.

Edited December 7, 2016 by indiggio

[Johnny Law]

I am a lawyer who spends money prudently and prioritizes things like saving for retirement and for his kids college over driving a flashy car.

 

And also pays a lot of alimony for 9 more months and bought my first house this year.

 

College savings starts after alimony ends.

 

Same though no alimony.

 

Honda made the perfect car for me, it cost like 20k. Shit I bought another one a couple months back for 7k. It's everything I want and I can throw my trash on the floor guilt free would owning something slick be cool, for sure but I'm way too lazy and don't care enough so why not instead spend the money on hobbies like hookers and blow and retiring at 45.

[rummy]

Same though no alimony.

 

Honda made the perfect car for me, it cost like 20k. Shit I bought another one a couple months back for 7k. It's everything I want and I can throw my trash on the floor guilt free would owning something slick be cool, for sure but I'm way too lazy and don't care enough so why not instead spend the money on hobbies like hookers and blow and retiring at 45.

There may be a few members who would like this site www.early-retirement.org

[Shadows]

I agree. I won't either.

 

i dont get you.

you buy that pan-am yet?

[RootDKJ]

Most people don't care about having a fancy car I know I don't. Plus ski2live has two kids to pay for and alimony.

 

Doubt that. Not in jersey right outside NYC. But remember people in that tax bracket are paying over 40% between state and federal taxes.

Taxation is theft. 40% is absurd. We cannot tax ourselves into prosperity.

[GrilledSteezeSandwich]

Taxation is theft. 40% is absurd. We cannot tax ourselves into prosperity.

40% is for wealthy people with no write offs. Mine isn't quite that high as I'm in a middle class tax bracket. If you don't like taxation move to Dubai and ski in the mall..no income tax over there. I accept taxes just like I accept absurdly high insurance premiums.

[Ski2Live Live2Ski]

No problem with taxes. They should be higher. We need to redistribute more money from wealthy people to needy people.

[GrilledSteezeSandwich]

No problem with taxes. They should be higher. We need to redistribute more money from wealthy people to needy people.

 

You're in the minority with that thinking. Needy people already get free food, cheap housing, free money, free public education, nearly free higher education and job training. Most poors are poor for a reason...they're either dim, lazy or both.

 

I've always been for a flat income tax. Steve Forbes proposed a flat tax back in the 90s. Let's say the flat tax rate is 20% above income over $20,000 a year...poor people don't have to pay federal income tax and now they basically get back most of what they pay in. If you make $50,000 a year you pay 20% above $20,000 or $6,000 you make $100,000 a year you're gonna pay $16,000...the wealthy are still gonna pay a much greater share of taxes than the poor but it's not as great of a burden. If you bust ass to become a lawyer why should you have to pay such a high percentage in taxes. While lazy people who work at McDonald's pay almost no tax. Lame.

[Shadows]

my accountant tells me 30%.

this will be my first year in business so ill see what the bill comes to.

 

30% is a fuckton for a startup/business that doesnt show a profit

[Ski2Live Live2Ski]

I am probably not in the minority with that thinking as I expect lots of poor people agree with me, though they are less likely to vote. I am probably in the minority among folks in my tax bracket.

Edited December 7, 2016 by Ski2Live Live2Ski

[poconoceancity]

i dont get you.

you buy that pan-am yet?

What's to get?

Pan-am?

my accountant tells me 30%.

this will be my first year in business so ill see what the bill comes

 

30% is a fuckton for a startup/business that doesnt show a profit

If you showed a loss you won't pay anything.

Edited December 7, 2016 by poconoceancity

[GrilledSteezeSandwich]

my accountant tells me 30%.

this will be my first year in business so ill see what the bill comes to.

 

30% is a fuckton for a startup/business that doesnt show a profit

You only pay taxes or profit which is your income...you don't pay tax on revenues. That 30% figure probably includes, state, local, federal, Medicare, social security and misc. If we have a real profitable year this time of year we spend a lot of money...prepay on foundations, order more granite, buy lots of stamps and office supplies we'll need and whatever we can to lessen the tax burdens. High taxes kill small businesses. I'm hoping Trumps tax plan improves this situation. A good accountant will show as small of a profit as possible. Last year our truck depreciation was $25k...this year it's $15k so with the same level of business and expenses I already know profit is $10k higher which means taxes are an extra $3-$4k without doing anything.

[Shadows]

this is why i have an accountant. 

no idea about any of that stuff. 

100$ an hour sucks though.

[GrilledSteezeSandwich]

this is why i have an accountant. 

no idea about any of that stuff. 

100$ an hour sucks though.

We pay $480 a month for our accountant...

[Johnny Law]

Taxation is theft. 40% is absurd. We cannot tax ourselves into prosperity.

 

Not exact but close enough

 

https://youtu.be/azM6xSTT2I0?t=148

 

No problem with taxes. They should be higher. We need to redistribute more money from wealthy people to needy people.

 

x2

 

my accountant tells me 30%.

this will be my first year in business so ill see what the bill comes to.

 

30% is a fuckton for a startup/business that doesnt show a profit

 

You shouldn't be paying shit, you only pay if you make money

[Shadows]

^yea i guess im only paying the state/fed/medi stuff.

 

dough, you have multiple people on payroll at a normal adult salary.

i make 1300 a month. my accountant bill has been like 350 every quarter.

Edited December 7, 2016 by Shadows

[GrilledSteezeSandwich]

^yea i guess im only paying the state/fed/medi stuff.

 

dough, you have multiple people on payroll at a normal adult salary.

i make 1300 a month. my accountant bill has been like 350 every quarter.

You make $1300 a month or the business makes $1300 a month. If you are making $1300 a month profit in the first year that's not bad.

 

What's a normal adult salary?

[Shadows]

technically i dont get a paycheck. I'm still figuring out what it means to separate my business and personal income.

business income pays bills. nothing left over for me

 

normal adult salary is one that can pay bills, save, and invest.

40K/year is like entry level seems like

[GrilledSteezeSandwich]

technically i dont get a paycheck. I'm still figuring out what it means to separate my business and personal income.

business income pays bills. nothing left over for me

 

normal adult salary is one that can pay bills, save, and invest.

40K/year is like entry level seems like

How do you have money for food and staying at the hotel Bethlehem and stuff if nothing left over for you. You should give yourself some sort of a draw every month...could be $1,000 a month whatever otherwise you are working for free.

 

By business income paying the bills do you mean your living expenses or business bills?

[toast21602]

Maybe you can skip on taxes like the pumpkin-elect!

 

 

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[Shadows]

both more or less.

the only real business bills i have are insurance/bond. so most of the money goes to personal bills. gas.

everynow and then ill say fuck it an go out/whatever. but idk. for the most part i have like 150$ a month to spend. 

Edited December 7, 2016 by Shadows