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Finished 2017 tax projections: netted $1.326 mil (CSLG)

I just finished doing my law firm books for 2017 and I nette...
Soggy Mustard Goyim
  12/15/17
180 bro! You deserve it!
passionate white lodge
  12/15/17
You're still young! You can make it at any age!
slate marvelous bbw house
  12/16/17
Coppin' the right kind of investment RE will possibly let yo...
stubborn amber national
  12/15/17
Introducing the XO winery: Chateau 180.
trip death wish faggot firefighter
  12/15/17
...
bronze church yarmulke
  12/15/17
There was a thread a few months ago where we were talking ab...
fighting light address
  12/15/17
Hard Fork Cider (a subsidiary of Crypto Gainz LP)
trip death wish faggot firefighter
  12/15/17
That just sounds like 4 loko in cider form. This was more li...
fighting light address
  12/15/17
Interesting idea re ice wine. I'd think it would be, mechani...
trip death wish faggot firefighter
  12/15/17
I am guessing there is an issue b/c apples are denser and ha...
fighting light address
  12/15/17
Yeah. Apparently I've been having the TTT overly sweet kind....
trip death wish faggot firefighter
  12/15/17
Cali Dunkin Donuts Guru
fighting light address
  12/15/17
Biz. development deduction? Asset that generates impairment ...
trip death wish faggot firefighter
  12/15/17
The biggest issue is that I keep my overhead extremely low. ...
Soggy Mustard Goyim
  12/15/17
That party you threw alone you had to hire the MC who charge...
trip death wish faggot firefighter
  12/15/17
Lol. My party was about $3,000 with everything. My friend ow...
Soggy Mustard Goyim
  12/15/17
I'm hoping for between 750 and 1 mil next year. Congrats. Ru...
racy voyeur rigpig
  12/15/17
Good luck. What city are you in? If LA who is the mediator? ...
Soggy Mustard Goyim
  12/15/17
not Cali but Federal Court.
racy voyeur rigpig
  12/15/17
180
exhilarant aggressive haunted graveyard church building
  12/15/17
set up a home office (so dont pay off your house) and deduct...
odious haunting theatre
  12/15/17
Too late, I paid off my mortgage in March. I already deduct ...
Soggy Mustard Goyim
  12/15/17
Make your next property your home office Can also deduct ...
odious haunting theatre
  12/15/17
What does pre-litigation mean here, without having to file s...
Stimulating Coldplay Fan
  12/15/17
Yes, without a lawsuit.
Soggy Mustard Goyim
  12/15/17
Moving to TX fixes state income tax, and has lower COL as we...
bronze church yarmulke
  12/15/17
But I would have no income. I guess I could just retire with...
Soggy Mustard Goyim
  12/15/17
Pro tip: do not under any circumstances move to Austin
cracking disgusting property
  12/15/17
Why not?
Soggy Mustard Goyim
  12/15/17
Buncha shitlibs and weird ass people. Also higher COL than e...
bronze church yarmulke
  12/15/17
...
flesh private investor ticket booth
  12/16/17
nah wait awhile before moving. but do it eventually. Guns, l...
bronze church yarmulke
  12/15/17
I would never move from LA. My house is paid off and I'll ha...
Soggy Mustard Goyim
  12/15/17
eh, fair enough. Like LA in general?
bronze church yarmulke
  12/15/17
I live in the San Fernando Valley. I hate the actual city. T...
Soggy Mustard Goyim
  12/15/17
Jesus. Keep your voice down. Earl might hear you.
Gold mad-dog skullcap
  12/15/17
...
Umber Appetizing Crackhouse Water Buffalo
  12/16/17
And probably crushes the income. Isn't California plain...
Stimulating Coldplay Fan
  12/15/17
Best state in the nation for PI.
Soggy Mustard Goyim
  12/15/17
YNY get that hustle congrats
Ivory toaster home
  12/15/17
how many solos do you know who have just flamed out of the p...
Pontificating Mewling Institution
  12/15/17
I know several who flamed out and ended up as an associate s...
Soggy Mustard Goyim
  12/15/17
Why do you think they did shitty work? Lack of responsivene...
magical roommate electric furnace
  12/15/17
Both.
Soggy Mustard Goyim
  12/15/17
180, congrats.
bronze church yarmulke
  12/15/17
holy shit congrats
Painfully honest greedy meetinghouse cumskin
  12/15/17
180 man
irradiated sapphire field dopamine
  12/15/17
Can you ask your CPA about paying your 2018 estimated CA sta...
Navy point queen of the night
  12/15/17
I actually JUST did that right now. I paid 130K for 2018 lit...
Soggy Mustard Goyim
  12/15/17
180!
Navy point queen of the night
  12/15/17
Love hearing about the practice bro. I am sure you have addr...
concupiscible orchid marketing idea
  12/15/17
Summered at a big firm 2L year. Hated it and got no offered ...
Soggy Mustard Goyim
  12/15/17
What moment in your legal career are you most proud of? Some...
concupiscible orchid marketing idea
  12/15/17
I settled a case for a bit over 2 million for a widow whose ...
Soggy Mustard Goyim
  12/15/17
Incredible. Must have felt almost as good as when I caught t...
concupiscible orchid marketing idea
  12/15/17
...
Internet-worthy Senate
  12/15/17
...
Fragrant hyperactive market
  12/15/17
...
magical roommate electric furnace
  12/15/17
...
insanely creepy carnelian library
  12/15/17
...
glittery cocky boiling water school
  12/15/17
...
cordovan demanding athletic conference
  12/15/17
...
brilliant boltzmann
  12/15/17
...
Lascivious Fanboi
  12/15/17
...
Sepia immigrant regret
  12/16/17
...
Painfully honest greedy meetinghouse cumskin
  12/16/17
...
Spectacular parlor mother
  12/16/17
...
pearly theater
  12/17/17
...
poppy legal warrant
  04/09/18
...
Crimson Exciting Forum Tattoo
  04/09/18
180
Lascivious Fanboi
  12/15/17
Congrats on the success, mang.
Fragrant hyperactive market
  12/15/17
Nice bro!
Iridescent vigorous parlour
  12/15/17
...
flesh private investor ticket booth
  12/15/17
What sort of RE are you looking to buy? Are you looking to ...
Navy point queen of the night
  12/15/17
Multifamily and NNN commercial. Cap rates suck right now but...
Soggy Mustard Goyim
  12/15/17
congratulations bro
Internet-worthy Senate
  12/15/17
180, congrats.
cowardly frum corn cake
  12/15/17
Damn, nice.
Peach Toilet Seat Set
  12/15/17
Send our new shitfirm cases
magical roommate electric furnace
  12/15/17
DESCRIBE your billable rate.
Stimulating Coldplay Fan
  12/15/17
I will. Do you already know who I am, or would this out me?
Peach Toilet Seat Set
  12/15/17
I have no clue who you are but I've met 10 xo poasters and w...
magical roommate electric furnace
  12/15/17
180.
Burgundy public bath
  12/15/17
180
primrose native hissy fit
  12/15/17
what does your CRYPTOCOIN PORTFOLIO look like
Impressive Big State
  12/15/17
3 BTC and 25 ETH. Not a lot but my basis is like 15K. I ...
Soggy Mustard Goyim
  12/15/17
180
cordovan demanding athletic conference
  12/15/17
Excellent work man! I'm a solo that does some PI, and I real...
adulterous school cafeteria
  12/15/17
180 friend. have you thought about buying up some residen...
Sticky Excitant Multi-billionaire People Who Are Hurt
  12/15/17
so you "netted" 765K
soul-stirring dingle berry
  12/15/17
"nutted" http://autoadmit.com/thread.php?thread...
Chest-beating opaque indian lodge depressive
  12/15/17
Next year you have to make a lot more to net the same amount...
Chest-beating opaque indian lodge depressive
  12/15/17
Pass through income may be taxed at 20% next year. I would p...
Soggy Mustard Goyim
  12/15/17
last i heard the 20% break is not available for service prof...
pearly theater
  12/15/17
Yep Edit: 315k now
Pink mentally impaired whorehouse mexican
  12/16/17
incredible and you deserve it for your hustle. congrats.
zombie-like gunner
  12/15/17
180
Lascivious Fanboi
  12/15/17
you need a better CPA if he's not suggesting tax strategies....
pearly theater
  12/15/17
Give me some ideas. I read a lot about taxes and it seems li...
Soggy Mustard Goyim
  12/16/17
Anyone?
Soggy Mustard Goyim
  12/16/17
Captive insurance. Deduct premium you pay to your own insur...
Buff Nursing Home
  12/16/17
How much can I dump into that in a year?
Soggy Mustard Goyim
  12/16/17
1.2 million or something like that. Need to hire a reputabl...
Buff Nursing Home
  12/16/17
Interesting, I'll look into that. Thanks.
Soggy Mustard Goyim
  12/16/17
There's a financial guy I know in LA that probably does it o...
Buff Nursing Home
  12/16/17
calishitlawguru@gmail.com. Really appreciate this brother...
Soggy Mustard Goyim
  12/16/17
...
Soggy Mustard Goyim
  12/16/17
Let me check with him first and get back to you. Probably to...
Buff Nursing Home
  12/16/17
Notice to any poasters who may find this subthread while con...
Big-titted Sexy Really Tough Guy Newt
  04/01/18
Pouring money into real estate sounds exhausting
Pink mentally impaired whorehouse mexican
  12/16/17
There aren't that many places to pour money into for passive...
Soggy Mustard Goyim
  12/16/17
No doubt. Just seems like a fuckton of work for the near fut...
Pink mentally impaired whorehouse mexican
  12/16/17
How did you build your PI practice without marketing brother...
snowy associate piazza
  12/16/17
1. Be friendly to everyone you meet, let them know what you ...
Soggy Mustard Goyim
  12/16/17
This is all credited advice whether you are shitlaw or bigla...
Pink mentally impaired whorehouse mexican
  12/16/17
Do your solo friends give you referral fees? I know some big...
Soggy Mustard Goyim
  12/17/17
They would but Firm does not allow referral fees unless we a...
Pink mentally impaired whorehouse mexican
  12/17/17


Poast new message in this thread



Reply Favorite

Date: December 15th, 2017 11:20 AM
Author: Soggy Mustard Goyim

I just finished doing my law firm books for 2017 and I netted $1,326,000. Any settlements the last couple weeks of the year will be pushed to 2018, so this is pretty much it for this year. Here is summary of my taxes:

According to my CPA here is my breakdown:

765K after taxes

136K to state income tax

425K to federal income tax

Firm Statistics

Total files: 283

Files in litigation: 41

Settlement: 85.5% of cases settle prelit

New files per month: 25-30

I paid off my house earlier this year. Our plan right now is to max out my SEP (54K) and my wife's 401K (18K) (which we have already been doing for years), and everything left above 100K (for a buffer) will be used to buy real estate. Wife works in-house as a lawyer and makes 120K + plus a 5-10K bonus.

It's kind of crazy how much I pay in taxes, but I feel like I do all the deductions I can without exposing myself to significant liability if audited. Although open to ideas (I already write off property tax, retirement, child care, health savings account, one business vehicle, cable, auto insurance, cell phone, new computers, office improvements, a reasonable amount of travel/meals/entertainment for business, etc).

Taking questions.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926680)



Reply Favorite

Date: December 15th, 2017 1:08 PM
Author: passionate white lodge

180 bro!

You deserve it!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927519)



Reply Favorite

Date: December 16th, 2017 11:40 AM
Author: slate marvelous bbw house

You're still young! You can make it at any age!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934570)



Reply Favorite

Date: December 15th, 2017 11:23 AM
Author: stubborn amber national

Coppin' the right kind of investment RE will possibly let you use depreciation and other stuff to your advantage and shield more $ from taxes

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926704)



Reply Favorite

Date: December 15th, 2017 11:24 AM
Author: trip death wish faggot firefighter

Introducing the XO winery: Chateau 180.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926715)



Reply Favorite

Date: December 15th, 2017 11:33 AM
Author: bronze church yarmulke



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926807)



Reply Favorite

Date: December 15th, 2017 11:40 AM
Author: fighting light address

There was a thread a few months ago where we were talking about doing an artisinal cider business.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926851)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: trip death wish faggot firefighter

Hard Fork Cider (a subsidiary of Crypto Gainz LP)

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926867)



Reply Favorite

Date: December 15th, 2017 11:44 AM
Author: fighting light address

That just sounds like 4 loko in cider form. This was more like taking the brix of the apples so that they are harvested at the right time, having different varietals, aging in French Oak.

I wonder if it is possible to make an ice wine like thing with apples.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926881)



Reply Favorite

Date: December 15th, 2017 11:45 AM
Author: trip death wish faggot firefighter

Interesting idea re ice wine. I'd think it would be, mechanism should be the same. Wonder how it would compare to Lambic beer.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926899)



Reply Favorite

Date: December 15th, 2017 11:47 AM
Author: fighting light address

I am guessing there is an issue b/c apples are denser and have lower surface area/volume than grapes. But you could just take the mash and freeze it in a factory.

Lambic beer is just stuff brewed with wild lactobacteria, right?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926909)



Reply Favorite

Date: December 15th, 2017 11:49 AM
Author: trip death wish faggot firefighter

Yeah. Apparently I've been having the TTT overly sweet kind.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926923)



Reply Favorite

Date: December 15th, 2017 12:05 PM
Author: fighting light address

Cali Dunkin Donuts Guru

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927036)



Reply Favorite

Date: December 15th, 2017 11:23 AM
Author: trip death wish faggot firefighter

Biz. development deduction? Asset that generates impairment losses? Take whatever you think reasonable meals etc. are and triple those deductions?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926707)



Reply Favorite

Date: December 15th, 2017 11:27 AM
Author: Soggy Mustard Goyim

The biggest issue is that I keep my overhead extremely low. I usually do like one nice meal a month with friends and my wife which is business development ($500+). I don't really spend money on biz dev lol.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926751)



Reply Favorite

Date: December 15th, 2017 11:29 AM
Author: trip death wish faggot firefighter

That party you threw alone you had to hire the MC who charges a high hourly rate I hear, get the venue catering etc.

BTW congrats on the fantastic year, here's to another '18.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926777)



Reply Favorite

Date: December 15th, 2017 11:32 AM
Author: Soggy Mustard Goyim

Lol. My party was about $3,000 with everything. My friend owns the laser tag facility (I've been playing there since 95) and basically let me rent out the place at cost ($850). The majority of the money was spent tipping the girls who work there ($140/each), buying food ($1,300), and doing my raffle ($600).

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926797)



Reply Favorite

Date: December 15th, 2017 11:24 AM
Author: racy voyeur rigpig

I'm hoping for between 750 and 1 mil next year. Congrats. Running between 150-175 cases. Significantly lower pre-lit settlement %. Mediating my biggest case ever this pm, which will count towards next year.

Qs: What helped make the jump from ~100-150 cases to where you are now? I've kind of plateau'd where I am.

Do you have an associate? How much support staff? What do you pay them?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926726)



Reply Favorite

Date: December 15th, 2017 11:28 AM
Author: Soggy Mustard Goyim

Good luck. What city are you in? If LA who is the mediator? I have several 7 figure cases in my pipeline that should settle next year.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926770)



Reply Favorite

Date: December 15th, 2017 12:03 PM
Author: racy voyeur rigpig

not Cali but Federal Court.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927017)



Reply Favorite

Date: December 15th, 2017 11:25 AM
Author: exhilarant aggressive haunted graveyard church building

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926735)



Reply Favorite

Date: December 15th, 2017 11:25 AM
Author: odious haunting theatre

set up a home office (so dont pay off your house) and deduct that plus util, internet, commuting, etc.

will not be a huge number but every little bit helps

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926737)



Reply Favorite

Date: December 15th, 2017 11:28 AM
Author: Soggy Mustard Goyim

Too late, I paid off my mortgage in March. I already deduct my internet, cell phone, car, etc.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926758)



Reply Favorite

Date: December 15th, 2017 12:05 PM
Author: odious haunting theatre

Make your next property your home office

Can also deduct electricity, garbage etc

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927037)



Reply Favorite

Date: December 15th, 2017 11:31 AM
Author: Stimulating Coldplay Fan

What does pre-litigation mean here, without having to file suit at all?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926786)



Reply Favorite

Date: December 15th, 2017 11:32 AM
Author: Soggy Mustard Goyim

Yes, without a lawsuit.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926800)



Reply Favorite

Date: December 15th, 2017 11:32 AM
Author: bronze church yarmulke

Moving to TX fixes state income tax, and has lower COL as well...

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926802)



Reply Favorite

Date: December 15th, 2017 11:34 AM
Author: Soggy Mustard Goyim

But I would have no income. I guess I could just retire with 3 million to Austin, but I would rather live in LA. All my family and friends live here.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926812)



Reply Favorite

Date: December 15th, 2017 11:39 AM
Author: cracking disgusting property

Pro tip: do not under any circumstances move to Austin

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926839)



Reply Favorite

Date: December 15th, 2017 11:40 AM
Author: Soggy Mustard Goyim

Why not?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926850)



Reply Favorite

Date: December 15th, 2017 11:41 AM
Author: bronze church yarmulke

Buncha shitlibs and weird ass people. Also higher COL than elsewhere, and has shitty city gov.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926863)



Reply Favorite

Date: December 16th, 2017 9:22 AM
Author: flesh private investor ticket booth



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933965)



Reply Favorite

Date: December 15th, 2017 11:41 AM
Author: bronze church yarmulke

nah wait awhile before moving. but do it eventually. Guns, land, low COL.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926854)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: Soggy Mustard Goyim

I would never move from LA. My house is paid off and I'll have 10 million in investable assets by the time I'm 40. I can just stay here and stop working in 6 years.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926871)



Reply Favorite

Date: December 15th, 2017 11:44 AM
Author: bronze church yarmulke

eh, fair enough. Like LA in general?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926878)



Reply Favorite

Date: December 15th, 2017 11:51 AM
Author: Soggy Mustard Goyim

I live in the San Fernando Valley. I hate the actual city. Too crowded and parking sucks.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926930)



Reply Favorite

Date: December 15th, 2017 4:10 PM
Author: Gold mad-dog skullcap

Jesus. Keep your voice down. Earl might hear you.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928992)



Reply Favorite

Date: December 16th, 2017 10:56 AM
Author: Umber Appetizing Crackhouse Water Buffalo



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934361)



Reply Favorite

Date: December 15th, 2017 11:34 AM
Author: Stimulating Coldplay Fan

And probably crushes the income.

Isn't California plaintiff friendly?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926813)



Reply Favorite

Date: December 15th, 2017 11:35 AM
Author: Soggy Mustard Goyim

Best state in the nation for PI.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926818)



Reply Favorite

Date: December 15th, 2017 11:34 AM
Author: Ivory toaster home

YNY get that hustle

congrats

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926814)



Reply Favorite

Date: December 15th, 2017 11:40 AM
Author: Pontificating Mewling Institution

how many solos do you know who have just flamed out of the profession or aren't doing well?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926849)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: Soggy Mustard Goyim

I know several who flamed out and ended up as an associate somewhere. Most don't do well because they do shitty work and rely on paid marketing for clients. So they have low settlements and high acquisition costs. I'm the opposite. I do great work and no paid marketing. So my margins are crazy.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926864)



Reply Favorite

Date: December 15th, 2017 12:13 PM
Author: magical roommate electric furnace

Why do you think they did shitty work? Lack of responsiveness?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927092)



Reply Favorite

Date: December 15th, 2017 2:02 PM
Author: Soggy Mustard Goyim

Both.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927915)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: bronze church yarmulke

180, congrats.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926868)



Reply Favorite

Date: December 15th, 2017 11:44 AM
Author: Painfully honest greedy meetinghouse cumskin

holy shit congrats

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926888)



Reply Favorite

Date: December 15th, 2017 11:46 AM
Author: irradiated sapphire field dopamine

180 man

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926903)



Reply Favorite

Date: December 15th, 2017 11:55 AM
Author: Navy point queen of the night

Can you ask your CPA about paying your 2018 estimated CA state taxes in 2017 since SALT is going away?

See this thread:

http://autoadmit.com/thread.php?thread_id=3828093&mc=37&forum_id=2

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926949)



Reply Favorite

Date: December 15th, 2017 12:04 PM
Author: Soggy Mustard Goyim

I actually JUST did that right now. I paid 130K for 2018 literally 30 seconds ago.



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927024)



Reply Favorite

Date: December 15th, 2017 12:14 PM
Author: Navy point queen of the night

180!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927095)



Reply Favorite

Date: December 15th, 2017 11:59 AM
Author: concupiscible orchid marketing idea

Love hearing about the practice bro. I am sure you have addressed this previously but do you have a biglaw background?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926977)



Reply Favorite

Date: December 15th, 2017 12:05 PM
Author: Soggy Mustard Goyim

Summered at a big firm 2L year. Hated it and got no offered because I left every day early and didn't go to most of the summer associate events.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927031)



Reply Favorite

Date: December 15th, 2017 12:09 PM
Author: concupiscible orchid marketing idea

What moment in your legal career are you most proud of? Some brilliant procedural move? Closing argument? Seeing your clients' lives change after a big win/settlement?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927062)



Reply Favorite

Date: December 15th, 2017 12:11 PM
Author: Soggy Mustard Goyim

I settled a case for a bit over 2 million for a widow whose husband was killed in a head on collision. The other party only had 100K policy but we found a road defect from construction and got almost 2 mil from the construction company/city. I changed that woman's life. She was an old Hispanic lady who never worked and spoke no English. Without me she would have been destitute. It felt really good to help someone that much.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927084)



Reply Favorite

Date: December 15th, 2017 12:15 PM
Author: concupiscible orchid marketing idea

Incredible. Must have felt almost as good as when I caught that missing comma in the credit agreement for the joint bookrunners on this subordinated debt deal. Wouldn't trade that experience for the world.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927112)



Reply Favorite

Date: December 15th, 2017 1:07 PM
Author: Internet-worthy Senate



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927511)



Reply Favorite

Date: December 15th, 2017 1:12 PM
Author: Fragrant hyperactive market



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927538)



Reply Favorite

Date: December 15th, 2017 1:13 PM
Author: magical roommate electric furnace



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927551)



Reply Favorite

Date: December 15th, 2017 1:46 PM
Author: insanely creepy carnelian library



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927808)



Reply Favorite

Date: December 15th, 2017 1:49 PM
Author: glittery cocky boiling water school



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927818)



Reply Favorite

Date: December 15th, 2017 5:14 PM
Author: cordovan demanding athletic conference



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929548)



Reply Favorite

Date: December 15th, 2017 5:14 PM
Author: brilliant boltzmann



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929558)



Reply Favorite

Date: December 15th, 2017 11:29 PM
Author: Lascivious Fanboi



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932058)



Reply Favorite

Date: December 16th, 2017 9:04 AM
Author: Sepia immigrant regret



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933907)



Reply Favorite

Date: December 16th, 2017 9:05 AM
Author: Painfully honest greedy meetinghouse cumskin



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933910)



Reply Favorite

Date: December 16th, 2017 11:11 AM
Author: Spectacular parlor mother



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934434)



Reply Favorite

Date: December 17th, 2017 2:04 PM
Author: pearly theater



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34942267)



Reply Favorite

Date: April 9th, 2018 12:58 AM
Author: poppy legal warrant



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#35796599)



Reply Favorite

Date: April 9th, 2018 12:58 AM
Author: Crimson Exciting Forum Tattoo



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#35796603)



Reply Favorite

Date: December 15th, 2017 11:29 PM
Author: Lascivious Fanboi

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932055)



Reply Favorite

Date: December 15th, 2017 12:01 PM
Author: Fragrant hyperactive market

Congrats on the success, mang.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927003)



Reply Favorite

Date: December 15th, 2017 12:02 PM
Author: Iridescent vigorous parlour

Nice bro!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927006)



Reply Favorite

Date: December 15th, 2017 12:11 PM
Author: flesh private investor ticket booth



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927082)



Reply Favorite

Date: December 15th, 2017 12:20 PM
Author: Navy point queen of the night

What sort of RE are you looking to buy? Are you looking to rent it out or flip it? Id like to get into RE since we don’t want to only put money into the stock market, but it’s a tough market right now given how high it is.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927147)



Reply Favorite

Date: December 15th, 2017 1:37 PM
Author: Soggy Mustard Goyim

Multifamily and NNN commercial. Cap rates suck right now but rents keep going up. As long as you buy young and hold for decades you can't really overpay. LA real estate will double again in 10 years anyways.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927745)



Reply Favorite

Date: December 15th, 2017 12:27 PM
Author: Internet-worthy Senate

congratulations bro

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927204)



Reply Favorite

Date: December 15th, 2017 1:11 PM
Author: cowardly frum corn cake

180, congrats.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927534)



Reply Favorite

Date: December 15th, 2017 1:23 PM
Author: Peach Toilet Seat Set

Damn, nice.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927621)



Reply Favorite

Date: December 15th, 2017 1:38 PM
Author: magical roommate electric furnace

Send our new shitfirm cases

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927752)



Reply Favorite

Date: December 15th, 2017 2:22 PM
Author: Stimulating Coldplay Fan

DESCRIBE your billable rate.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928088)



Reply Favorite

Date: December 15th, 2017 3:42 PM
Author: Peach Toilet Seat Set

I will. Do you already know who I am, or would this out me?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928728)



Reply Favorite

Date: December 15th, 2017 3:46 PM
Author: magical roommate electric furnace

I have no clue who you are but I've met 10 xo poasters and would protect their identities with my life.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928769)



Reply Favorite

Date: December 15th, 2017 1:39 PM
Author: Burgundy public bath

180.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927756)



Reply Favorite

Date: December 15th, 2017 3:46 PM
Author: primrose native hissy fit

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928764)



Reply Favorite

Date: December 15th, 2017 3:47 PM
Author: Impressive Big State

what does your CRYPTOCOIN PORTFOLIO look like

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928785)



Reply Favorite

Date: December 15th, 2017 3:48 PM
Author: Soggy Mustard Goyim

3 BTC and 25 ETH.

Not a lot but my basis is like 15K. I didn't get in until a couple months ago.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928791)



Reply Favorite

Date: December 15th, 2017 5:15 PM
Author: cordovan demanding athletic conference

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929564)



Reply Favorite

Date: December 15th, 2017 5:19 PM
Author: adulterous school cafeteria

Excellent work man! I'm a solo that does some PI, and I really enjoy your threads. You still take questions on that throwaway?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929591)



Reply Favorite

Date: December 15th, 2017 5:33 PM
Author: Sticky Excitant Multi-billionaire People Who Are Hurt

180 friend.

have you thought about buying up some residential property and renting it out to take advantage of the mortgage tax deduction? 180 way to take advantage of savings because the rent and property tax + interest more or less balance out.

if you leave a room vacant, you can claim it as a second house or something

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929717)



Reply Favorite

Date: December 15th, 2017 5:34 PM
Author: soul-stirring dingle berry

so you "netted" 765K

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929737)



Reply Favorite

Date: December 15th, 2017 5:45 PM
Author: Chest-beating opaque indian lodge depressive

"nutted"

http://autoadmit.com/thread.php?thread_id=2521977&mc=129&forum_id=2

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929823)



Reply Favorite

Date: December 15th, 2017 5:43 PM
Author: Chest-beating opaque indian lodge depressive

Next year you have to make a lot more to net the same amount with the new tax bill. Yay!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929810)



Reply Favorite

Date: December 15th, 2017 6:55 PM
Author: Soggy Mustard Goyim

Pass through income may be taxed at 20% next year. I would pay way less in taxes. I work my ass off, it's really shitty that I pay so much as it is.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34930275)



Reply Favorite

Date: December 15th, 2017 11:21 PM
Author: pearly theater

last i heard the 20% break is not available for service professionals who earn over 500K (hard cliff)

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34931985)



Reply Favorite

Date: December 16th, 2017 9:12 AM
Author: Pink mentally impaired whorehouse mexican

Yep

Edit: 315k now

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933932)



Reply Favorite

Date: December 15th, 2017 6:56 PM
Author: zombie-like gunner

incredible and you deserve it for your hustle. congrats.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34930279)



Reply Favorite

Date: December 15th, 2017 11:22 PM
Author: Lascivious Fanboi

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34931998)



Reply Favorite

Date: December 15th, 2017 11:25 PM
Author: pearly theater

you need a better CPA if he's not suggesting tax strategies. there is a lot of shit you can do.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932021)



Reply Favorite

Date: December 16th, 2017 12:48 AM
Author: Soggy Mustard Goyim

Give me some ideas. I read a lot about taxes and it seems like my CPA is doing all the right things.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932589)



Reply Favorite

Date: December 16th, 2017 10:51 AM
Author: Soggy Mustard Goyim

Anyone?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934334)



Reply Favorite

Date: December 16th, 2017 11:07 AM
Author: Buff Nursing Home

Captive insurance. Deduct premium you pay to your own insurance company as a current year expense. Premium in the insurance company for the first year it is in is restricted to what it can be invested in, but after 1 year, you can invest it in real estate or whatever you want. If you ever want to redeem cash from the insurance company, you take it as capital gains instead of ordinary income on your taxes, so you have converted ordinary income into long term capital gains.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934421)



Reply Favorite

Date: December 16th, 2017 11:10 AM
Author: Soggy Mustard Goyim

How much can I dump into that in a year?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934431)



Reply Favorite

Date: December 16th, 2017 11:16 AM
Author: Buff Nursing Home

1.2 million or something like that. Need to hire a reputable accounting firm (there are a few), cost is about 5% of amount you put in due to setup/fees/audit protection.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934450)



Reply Favorite

Date: December 16th, 2017 11:18 AM
Author: Soggy Mustard Goyim

Interesting, I'll look into that. Thanks.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934459)



Reply Favorite

Date: December 16th, 2017 11:33 AM
Author: Buff Nursing Home

There's a financial guy I know in LA that probably does it or has a contact that sets them up all the time. What is your email, I can send you his info.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934533)



Reply Favorite

Date: December 16th, 2017 11:37 AM
Author: Soggy Mustard Goyim

calishitlawguru@gmail.com.

Really appreciate this brother.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934560)



Reply Favorite

Date: December 16th, 2017 11:39 AM
Author: Soggy Mustard Goyim



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934569)



Reply Favorite

Date: December 16th, 2017 11:42 AM
Author: Buff Nursing Home

Let me check with him first and get back to you. Probably too late in the year to actually execute this year, but can set you up for next year especially given your momentum and projections into next year.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934580)



Reply Favorite

Date: April 1st, 2018 8:15 PM
Author: Big-titted Sexy Really Tough Guy Newt

Notice to any poasters who may find this subthread while considering captive insurance:

http://www.autoadmit.com/thread.php?thread_id=3933697&forum_id=2#35739012

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#35739068)



Reply Favorite

Date: December 16th, 2017 9:15 AM
Author: Pink mentally impaired whorehouse mexican

Pouring money into real estate sounds exhausting

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933942)



Reply Favorite

Date: December 16th, 2017 10:51 AM
Author: Soggy Mustard Goyim

There aren't that many places to pour money into for passive income.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934337)



Reply Favorite

Date: December 16th, 2017 11:02 AM
Author: Pink mentally impaired whorehouse mexican

No doubt. Just seems like a fuckton of work for the near future.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934390)



Reply Favorite

Date: December 16th, 2017 9:23 AM
Author: snowy associate piazza

How did you build your PI practice without marketing brother? That seems to be the one area where advertising is everything

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933974)



Reply Favorite

Date: December 16th, 2017 10:55 AM
Author: Soggy Mustard Goyim

1. Be friendly to everyone you meet, let them know what you do, let them know how to reach you (business cards), and tell them a quick interesting story about a cool case. This is hard if you don't have social skills but it can be learned with practice. Almost identical to PUA skills. It's all a numbers game. If you talk to 10,000 people and 1% hires you, that's 100 clients. I even handed out some business cards at the XO meeting in LA a week ago (not to everyone though since a lot of them already had my contact info).

2. Do great work for your clients. Be responsive, professional, and make sure they love you when the case is done.

3. Give your clients your cell phone number and make them feel like family. I become very close with all my clients and talk to them like a friend, not their lawyer. When they refer me people they talk about me as not only a lawyer but a good person. Makes people excited to hire me.

This is pretty much all you need to do. Most attorneys treat their clients like shit, are impossible to reach, and do shitty work. It's really not that hard to stand out.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934354)



Reply Favorite

Date: December 16th, 2017 11:22 AM
Author: Pink mentally impaired whorehouse mexican

This is all credited advice whether you are shitlaw or biglaw. I am nice to everyone and tell everyone what I do. I’m biglaw so 99% of what comes my way I can’t take but I refer it out to my solo buddies.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934474)



Reply Favorite

Date: December 17th, 2017 9:39 AM
Author: Soggy Mustard Goyim

Do your solo friends give you referral fees? I know some big firms discourage that.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34940779)



Reply Favorite

Date: December 17th, 2017 10:31 AM
Author: Pink mentally impaired whorehouse mexican

They would but Firm does not allow referral fees unless we actually work the case. Its cool though, I’ve had it come back to me. I currently have a complex commercial case that one of my bros referred me that’s in pre-lit stage.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34941029)