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I signed a 1099 contract discuss (boor)
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Date: December 22nd, 2023 11:40 AM Author: topaz supple tank hell Will work on the side starting in January. Tell me the process of opening a Florida llc? Then 401k vs sep? Also on medical forums they say that u can put 50% of salary into defined benefit plan? I probably wouldn't make enough to bother with that but still want to know what's that
And most important question where do I buy next week: yorkville walkup, uws walkup, or midtown east? My priority is noise insulation (i dont consider it a habitable residency if i can hear my neighbor) and absence of any hdfc housing or projects in the vicinity. |
Date: December 22nd, 2023 11:43 AM Author: Razzle-dazzle sapphire office prole You seem like a horrible person (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47201918) |
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Date: December 22nd, 2023 11:48 AM Author: topaz supple tank hell Why? (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47201951) |
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Date: December 22nd, 2023 12:03 PM Author: Razzle-dazzle sapphire office prole Can't quite put my finger on it, but you're very unlikeable (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47202014) |
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Date: December 22nd, 2023 12:31 PM Author: topaz supple tank hell I bet you're a closet faggot marri3d to an ugly woman who makes as much $$ as you. (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47202099) |
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Date: December 22nd, 2023 12:37 PM Author: Razzle-dazzle sapphire office prole i'm gay (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47202126) |
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Date: December 22nd, 2023 1:00 PM Author: topaz supple tank hell And married to a high earning female too, am I right? (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47202220) |
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Date: December 22nd, 2023 11:50 AM Author: purple messiness (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47201964) |
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Date: December 22nd, 2023 7:11 PM Author: vermilion violent coffee pot Boor is a great guy he just makes weird threads (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47203620) |
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Date: December 22nd, 2023 11:46 AM Author: mahogany sanctuary for defined benefit plan you have to pay $3k/year toll to some jew financier. it's a pay to play racket imo (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47201943) |
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Date: December 22nd, 2023 11:52 AM Author: topaz supple tank hell For real? Well then not even worth learning about it, salary not big enough and state tax is 0. With solo401k can I submit the full 22k as an employe if I already contribute to my regular job 401k? Or there is a combined limit of 22k? (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47201973) |
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Date: December 22nd, 2023 12:32 PM Author: mint bat shit crazy orchestra pit Pretty sure it's a combined limit (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47202110) |
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Date: December 22nd, 2023 1:00 PM Author: topaz supple tank hell So basically there is no point to solo401k over sep? (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47202224) |
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Date: December 22nd, 2023 1:11 PM Author: topaz supple tank hell https://www.mysolo401k.net/solo-401k/multiple-retirement-plan-solo-401k-contribution-rules/#:~:text=ANSWER%3A,from%20that%20full%2Dtime%20employer
Here it says that your normal w2 401k limit(I am actually 403k) is separate from solo401k w2? In that case I'd be able to get 22k+100k*.25 ? |
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Date: December 22nd, 2023 3:57 PM Author: mint bat shit crazy orchestra pit Cool, go for it. I was just guessing. (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47202944) |
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Date: December 22nd, 2023 4:08 PM Author: topaz supple tank hell Now I read more and it says employee contribution is total so u cannot add to it. (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47202979) |
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Date: December 22nd, 2023 12:59 PM Author: topaz supple tank hell I'm thinking of buying in greenwich village. Basically lower value compared to anything uws or ues. But less gay? I feel self conscious about fags and in ues or uws if u live in a studio you're a fag. (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47202218) |
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Date: December 22nd, 2023 6:58 PM Author: topaz supple tank hell Qualified business deduction. This is where I can deduct 20% of whatever my 1099 income is. I wonder if there is even any point in paying myself dividends(to save 3.9% Medicare tax, social security tax already paid for by my regular job) if my 1099 is under 200k? Can give 25% into solo401k (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47203592) |
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Date: December 22nd, 2023 10:23 PM Author: mahogany sanctuary Iirc QBI phases out at your income level. The tax code is designed to fuck high earning wagies in every possible way (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47204342) |
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Date: December 23rd, 2023 12:53 AM Author: topaz supple tank hell Doesn't it mean that I can still apply it to the first $230k of any separate business(1099 work) even if my total taxable income is higher? I just thought of this strategy if qbi applies: put only posttax $ into solo401k with roth conversion. But then apply 20% qbi to my entire 1099 (it is under 230k). (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47204763) |
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Date: December 23rd, 2023 5:29 PM Author: mahogany sanctuary Your best bet is to just max out business expenses. Just keep meeting notes during your whore holidays in Cyprus... Hotel meeting with client, discussed practical applications of tomosynthesis in breast imaging (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47206852) |
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Date: December 23rd, 2023 6:37 PM Author: topaz supple tank hell Yeah none of that works. I have hvac owner neighbor who literally imported a mail order wife. She hosts a "marriage agency" in his condo in Miami Beach and of course gets unlimited qbi deduction , writes off any travel, his corvette, etc. I cannot write off any of that at all. Maybe I'll buy a car just to write that 1 thing off. Otherwise only cheap things like cme and licenses. I probably spend $50k on travel and cannot write off 0. (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47206992) |
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Date: December 24th, 2023 3:38 PM Author: mahogany sanctuary you can definitely write off the travel off your 1099, i just showed you how to justify how it's "business travel" (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47209335) |
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Date: December 24th, 2023 7:59 PM Author: topaz supple tank hell No. In fact my father told me not even to open a llc or s-corp. He said you can write off expenses same way as "self employed" versus business, it only makes sense if u have negative income or you can actually get qbi deduction. (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47209997) |
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Date: December 25th, 2023 1:06 PM Author: mahogany sanctuary your father is a little bitch, the s-corp lets you save on self employment tax (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47211602) |
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Date: December 25th, 2023 2:47 PM Author: topaz supple tank hell Since I fully pay ss tax on my regular w2, if I pay myself 1/2 of profit on my side job, I will only save 1/2 of Medicare tax(3.9/2). That's negligible amount and cost and nuisance of payroll would be at least the same. If that's the only benefit, there is no benefit. Also if I pay myself full salary I can put 25% into sep. Not sure if I should do that or put even more into posttax solo401k->roth (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47211826) |
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Date: December 24th, 2023 8:01 PM Author: topaz supple tank hell If I work for some hospital in kentucky on a contract, lol at thinking I can go to Cyprus and expense it as "business meeting" and not get audited. (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47210005) |
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Date: December 25th, 2023 1:05 PM Author: mahogany sanctuary tons of people do exactly this. or they do some CME on the trip and expense the entire thing as "travel CME" (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47211597) |
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Date: December 23rd, 2023 1:33 AM Author: topaz supple tank hell Actually you're right. Indeed it's all or 0. I.e. single wit h taxable income of 160k get full 20% deduction but at 200k get 0. Fuck trump. (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#47204881) |
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Date: November 21st, 2025 4:47 PM Author: Histrionic dead locale brethren NIGGEE bOOR (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#49450231) |
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Date: December 3rd, 2025 7:26 PM Author: ,.,,,,. (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#49481488) |
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Date: December 3rd, 2025 7:40 PM Author: ,.,,,. Damn good find. I started 1099 under 2 years ago! Worked with 1 practice doing about 150k gross in 2024. This year I had 3 different side jobs but finally dropped that first contract, so now 2. Have to count how much I gross but about 300k. I don't see a point in doing more unless I quit my w2 job. Maximum tax expense deduction is under 100k. The rest 20% of net income can go to 401k. If I had a whore wife my father could definitely come up with a strategy to expense much more. I'm thinking of importing one from Belarus. (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#49481537) |
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Date: December 3rd, 2025 8:23 PM Author: ,.,,,. Damn I just counted I made over 400k in 1099 this year. I will not be able to match that next year because I'll have a day job with only 14 weeks off (the only way I'll make any 1099 us to stay evenings during my regular work weeks). So my income will be less despite working more shifts. (http://www.autoadmit.com/thread.php?thread_id=5464231&forum_id=2#49481774) |