do you have any knowledge or thoughts about business income/profits...particularly if one makes income from selling newly built homes or income from renting newly built apartments which in either case involved significant personal investment, a bank loan to develop and a bank loan to continue to own. any project would be owned and developed by a Massachusetts Limited Liability Company
My experience with LLCs is it is best to buy property with them, do accelerated depreciation and take 100% deductions for maintenance and property taxes, yearly. Then after all depreciation taken (as quickly as possible) transfer them to personal ownership or Trust ownership. Alternatively you can put an LLC inside a Trust, but I don't have direct experience with that (any asset can be placed inside a Trust, and this is what the elites do.)
One interesting thing regarding property is that it appears if you buy the property with Constitutional money (i.e. gold or silver eagles) and fully document the exchange with a witness/photos/etc, then you should get the FULL TITLE, not just EQUITABLE TITLE from the county. Once you have FULL TITLE and you make the county sign a QUIT CLAIM, they can no longer legally collect property taxes.
Note that you may have to get the property deed redone to match to an original land grant prior to the county's illegal shenanigans, but it is theoretically possible. However, until you get everything in order you must continue to pay property taxes or they will take the property away. Best to experiment with inexpensive vacant land to work out the process for the deed correction.
sound advice fren. are you an accountant, lawyer, engineer or something of these sorts? not that you have to be, but you sound well researched with an eye for the clown world vs constitutional world
in terms of a development flip however, where there's no depreciation to realize, can that income be treated in a manner that keeps fed hands off it for taxes? I do provide a "service" for the income/profits I finally receive in the end. while there's some manual services, most are not, if that even matters.
I would describe myself as all the above plus more, kinda like a modern pissed off Jefferson/Madison hybrid ready to metaphorically put some heads on pikes.
It is very difficult to legally shield income except by putting assets in a Trust or offsetting income with business expenses, etc. But note that many expenses fall into that category legitimately when one is running an LLC that is active in operations and doing research to develop intellectual property, etc.
I try to stay out of gray areas regarding income, especially business income because it is hard to win those fights with the IRS. An LLC flow through arrangement or Trust shield/deferral is adequate for me. Note that a SB401K can defer taxes due on business income for a very long time, but eventually they get you.
do you have any knowledge or thoughts about business income/profits...particularly if one makes income from selling newly built homes or income from renting newly built apartments which in either case involved significant personal investment, a bank loan to develop and a bank loan to continue to own. any project would be owned and developed by a Massachusetts Limited Liability Company
My experience with LLCs is it is best to buy property with them, do accelerated depreciation and take 100% deductions for maintenance and property taxes, yearly. Then after all depreciation taken (as quickly as possible) transfer them to personal ownership or Trust ownership. Alternatively you can put an LLC inside a Trust, but I don't have direct experience with that (any asset can be placed inside a Trust, and this is what the elites do.)
One interesting thing regarding property is that it appears if you buy the property with Constitutional money (i.e. gold or silver eagles) and fully document the exchange with a witness/photos/etc, then you should get the FULL TITLE, not just EQUITABLE TITLE from the county. Once you have FULL TITLE and you make the county sign a QUIT CLAIM, they can no longer legally collect property taxes.
Note that you may have to get the property deed redone to match to an original land grant prior to the county's illegal shenanigans, but it is theoretically possible. However, until you get everything in order you must continue to pay property taxes or they will take the property away. Best to experiment with inexpensive vacant land to work out the process for the deed correction.
sound advice fren. are you an accountant, lawyer, engineer or something of these sorts? not that you have to be, but you sound well researched with an eye for the clown world vs constitutional world
in terms of a development flip however, where there's no depreciation to realize, can that income be treated in a manner that keeps fed hands off it for taxes? I do provide a "service" for the income/profits I finally receive in the end. while there's some manual services, most are not, if that even matters.
I would describe myself as all the above plus more, kinda like a modern pissed off Jefferson/Madison hybrid ready to metaphorically put some heads on pikes.
It is very difficult to legally shield income except by putting assets in a Trust or offsetting income with business expenses, etc. But note that many expenses fall into that category legitimately when one is running an LLC that is active in operations and doing research to develop intellectual property, etc.
I try to stay out of gray areas regarding income, especially business income because it is hard to win those fights with the IRS. An LLC flow through arrangement or Trust shield/deferral is adequate for me. Note that a SB401K can defer taxes due on business income for a very long time, but eventually they get you.