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My tax liability this year might be $250k unless I come up with something
Poast new message in this thread
Date: September 24th, 2025 9:33 PM Author: histrionic stubborn sandwich stead Income about a million this is SP
Should I just leave a lot in the firm? |
Date: September 24th, 2025 9:35 PM Author: mauve library Good luck bro taxes are evil (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49299981) |
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Date: September 24th, 2025 9:37 PM Author: histrionic stubborn sandwich stead Yeah it’s topping out over a million in income but I have a note to pay back and then taxes I guess. I dunno I need an accountant. What I do know is I’m paying off my house my cars my student debt and putting the rest in some vanguard stuff Im definitely rolling w this team for the foreseeable future |
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Date: September 24th, 2025 9:39 PM Author: mauve library What’s your job? (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49299996) |
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Date: September 24th, 2025 9:41 PM Author: histrionic stubborn sandwich stead Law firm partner. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300000) |
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Date: September 24th, 2025 9:43 PM Author: mauve library Are you hiring? (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300005) |
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Date: September 24th, 2025 9:43 PM Author: histrionic stubborn sandwich stead Yes.
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Date: September 24th, 2025 9:50 PM Author: mauve library What are of law? (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300037) |
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Date: September 24th, 2025 9:53 PM Author: histrionic stubborn sandwich stead Anything that makes 1/3 to 40 percent worth it on good claims. So PI med mal product liability premises stuff. Very good interesting and fun Problem always is that associates who say they want litigation work always puss out and just want to screw around so are not helpful in the end |
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Date: September 24th, 2025 9:53 PM Author: mauve library PI? That’s not really my thing. I’m Ryan Sun, Esq. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300076) |
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Date: September 24th, 2025 9:59 PM Author: histrionic stubborn sandwich stead Okay. Well I answered your question (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300146) |
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Date: September 25th, 2025 11:15 AM Author: Drunken garnet fanboi (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302060) |
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Date: September 25th, 2025 11:17 AM Author: Milky liquid oxygen (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302071) |
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Date: September 24th, 2025 9:41 PM Author: exciting fuchsia parlour newt I have a similar problem. Does buying a nice office building or something reduce it? (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300001) |
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Date: September 24th, 2025 9:43 PM Author: histrionic stubborn sandwich stead I think so. Apparently that is legit. I had that offered to me at one point many years ago— to go into part ownership on real estate. I passed because the guy I was doing domestic law w wanted me to commit to 5 years of custody horseshit first. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300006) |
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Date: September 24th, 2025 9:53 PM Author: exciting fuchsia parlour newt Seems like a good idea tbh (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300068) |
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Date: September 24th, 2025 10:00 PM Author: histrionic stubborn sandwich stead Great you do five years of custody disputes among 30 year olds sounds like a winner ps don’t buy a gun (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300153) |
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Date: September 24th, 2025 10:31 PM Author: exciting fuchsia parlour newt I mean buying a building (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300382) |
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Date: September 24th, 2025 10:51 PM Author: histrionic stubborn sandwich stead oh fpr sure
black mold is a bitch |
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Date: September 24th, 2025 9:57 PM Author: Yapping Lay Just 250k? I paid $200 on 600k in income last year (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300129) |
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Date: September 24th, 2025 10:01 PM Author: histrionic stubborn sandwich stead Yeah it’s like $900k and I am married but I just realized I have to pay taxes on $100k I pay for note first. So add that in too taxes on a million. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300168) |
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Date: September 24th, 2025 10:34 PM Author: Embarrassed to the bone ebony volcanic crater Aren’t you LIB AS FUCK
why don’t u pay YOUR FAIR SHARE |
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Date: September 25th, 2025 11:07 AM Author: Bearded citrine useless brakes elastic band (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302042) |
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Date: September 25th, 2025 2:08 PM Author: chrome weed whacker tanning salon (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302544) |
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Date: September 24th, 2025 10:35 PM Author: Cruel-hearted hall Spaceporn is a partner? (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300399) |
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Date: September 24th, 2025 10:50 PM Author: histrionic stubborn sandwich stead duh. could that mean the people here who post bullshit about SP like they are paid to do it are lying about me in other ways? (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300449) |
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Date: September 24th, 2025 11:02 PM Author: Cruel-hearted hall Is your law firm ok with you using racial slurs on AutoAdmit? (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300467) |
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Date: September 24th, 2025 11:03 PM Author: histrionic stubborn sandwich stead Ask Boner Police circa 2019 (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300470) |
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Date: September 24th, 2025 11:10 PM Author: talking sex offender theatre play heads-up poker with me, lose big, write off the losses, and then we'll do it again next year (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300481) |
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Date: September 24th, 2025 11:11 PM Author: histrionic stubborn sandwich stead Ask me in three years (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300483) |
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Date: September 24th, 2025 11:12 PM Author: Ruddy unhinged school cafeteria I see no indication here that you are anything other than a 20th-year associate https://emrochandkilduff.com/attorneys/ |
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Date: September 24th, 2025 11:13 PM Author: histrionic stubborn sandwich stead Crazy right? I literally own the website and could make changes if m y. Shift was at issue. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300487) |
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Date: September 24th, 2025 11:14 PM Author: Ruddy unhinged school cafeteria sure bud sure (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300488) |
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Date: September 24th, 2025 11:16 PM Author: histrionic stubborn sandwich stead Omg reality is all online amirite? Face it you were gullible listening to the obvious retards |
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Date: September 24th, 2025 11:19 PM Author: Ruddy unhinged school cafeteria sure bud sure (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300497) |
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Date: September 24th, 2025 11:17 PM Author: laughsome soggy whorehouse half-breed he has ostensibly been a full-fledged “partner” for years but for some reason was completely oblivious to k-1 statements until just now. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300491) |
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Date: September 24th, 2025 11:17 PM Author: Ruddy unhinged school cafeteria odd case, very interesting! (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300492) |
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Date: September 24th, 2025 11:24 PM Author: histrionic stubborn sandwich stead Don’t even know what that is fancy pants because I have not had a tax liability of $250k before. If you have legit advice on OP topic feel free (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300504) |
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Date: September 25th, 2025 10:51 AM Author: diverse indecent office i am not questioning that your income is what you say it is, but there's no way you wouldn't be familiar with how a k-1 works if you'd been a "true" partner before this year. i remember getting my first one in biglol back in 2018 and i was like what is all this 50 pages of bullshit that makes no sense, i'm used to a one-page W-2. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302006) |
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Date: September 25th, 2025 11:10 AM Author: Sadistic pocket flask stage “Should I just leave a lot in the firm” to lower my tax bill tp
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Date: September 25th, 2025 11:19 AM Author: diverse indecent office you can just write it off (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302081) |
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Date: September 25th, 2025 3:05 PM Author: histrionic stubborn sandwich stead Is that bad? (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302701) |
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Date: September 25th, 2025 11:17 AM Author: Milky liquid oxygen (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302073) |
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Date: September 25th, 2025 12:10 AM Author: diverse indecent office 180. I hope to get there one day but it’s unlikely. I should make around 600-700 next year tho. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49300580) |
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Date: September 25th, 2025 11:14 AM Author: Lilac domesticated spot how is leaving money in the firm going to save you taxes? are you not a k-1 partner? (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302059) |
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Date: September 25th, 2025 11:16 AM Author: Sadistic pocket flask stage The firm doesn’t have a tax partner and so is formed as a C corp (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302068) |
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Date: September 25th, 2025 11:24 AM Author: Lilac domesticated spot normally the strategy in that case would be to try to zero out corporate taxable income with compensation deductions (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302093) |
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Date: September 25th, 2025 11:34 AM Author: Cream location What are good compensation deductions for that much money (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302122) |
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Date: September 25th, 2025 11:35 AM Author: Lilac domesticated spot 🤔
wages? bonuses? |
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Date: September 25th, 2025 12:57 PM Author: Balding center You pay out all profits in salaries/bonuses (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302355) |
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Date: September 25th, 2025 3:13 PM Author: Cream location You can’t just build a $250k theater room in your office? (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302734) |
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Date: September 25th, 2025 1:12 PM Author: Sadistic pocket flask stage “No, no. You see if you leave it all in the corp then you can transform it into capital gain. Lower rates, no self employment taxes, and you can defer paying your personal taxes until you take the money out. It’s wins all around!”
[Your tax accountant stares at you in horror] |
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Date: September 25th, 2025 12:58 PM Author: heady cuckoldry scourge upon the earth OP is an idiot (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302360) |
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Date: September 25th, 2025 12:55 PM Author: diverse indecent office spaceporn, what is your retirement plan? you can do a self-employed 401k and put in like 66-67k. actually since you are over 50, you can add a few grand to that. if you're making that much, you should 100% be doing that. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302352) |
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Date: September 25th, 2025 3:07 PM Author: histrionic stubborn sandwich stead I was just going to stick like $200k into a vanguard account. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302709) |
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Date: September 25th, 2025 12:58 PM Author: charismatic kitchen Ask your accountant about the "foreign exchange tax avoidance scam." You'll pay $0. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302361) |
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Date: September 25th, 2025 1:14 PM Author: diverse indecent office if i make equity next year, i have to start a "personal corporation". how ttt is this? (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302408) |
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Date: September 25th, 2025 1:19 PM Author: charismatic kitchen wym, that's the best possible tax avoidance, isn't it? (aside from the forex scam) (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302428) |
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Date: September 25th, 2025 1:20 PM Author: diverse indecent office i dunno, i think it looks dumb on the website.
i kinda regret leaving biglaw tbh but i was at a ttt biglaw firm |
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Date: September 25th, 2025 1:02 PM Author: Plum water buffalo Spend the money on a new son or 2 so you can deduct the purchase from your taxes (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302374) |
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Date: September 25th, 2025 1:17 PM Author: rose swashbuckling market if u have a corp then wtf arent u maxing on "expenses" (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302419) |
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Date: September 25th, 2025 3:08 PM Author: histrionic stubborn sandwich stead We was all scared. We are doing that more in 2026 no doubt (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302715) |
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Date: September 25th, 2025 1:20 PM Author: Sadistic pocket flask stage SP’s admin: “Someone calling himself Ambassador Billy Long is on the line. He says he wants to talk to you about purchasing tribal tax credits?” (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302431) |
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Date: September 25th, 2025 1:41 PM Author: mauve library https://autoadmit.com/thread.php?thread_id=5777923&mc=55&forum_id=2
how did you earn an extra $400k in a week? you're at CSLG levels |
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Date: September 25th, 2025 1:50 PM Author: insanely creepy gold legal warrant Heavy car 100% depreciate Office building and renovation costs
Were my top 2 |
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Date: September 25th, 2025 1:54 PM Author: Demanding stage seems low, ive already had 190K withheld on 600k so far this year and i always end up owing more due to under withholding and dividends (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302517) |
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Date: September 25th, 2025 1:56 PM Author: Drunken garnet fanboi You're a wagecuck, not a rainmaker law partner. (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302521) |
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Date: September 25th, 2025 1:58 PM Author: Demanding stage thats the difference (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302524) |
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Date: September 25th, 2025 2:06 PM Author: Drunken garnet fanboi (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302538) |
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Date: September 25th, 2025 2:00 PM Author: Lilac domesticated spot why did op disappear once the tough questions started being asked (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302530) |
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Date: September 25th, 2025 2:07 PM Author: mauve library weird, that rarely happens around here (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302541) |
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Date: September 25th, 2025 2:10 PM Author: Drunken garnet fanboi no wifi in the playroom (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302554) |
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Date: September 25th, 2025 2:10 PM Author: Ultramarine Pungent Address Mother I pay more tax as a doctor. I put about 50k into solo401k and another 40k in w2 401k, 457k. But that's about it, and that's not really a deduction... (http://www.autoadmit.com/thread.php?thread_id=5779690&forum_id=2Firm#49302551) |