Django posted:

Parents Are Giving Up Custody of Their Kids to Get Need-Based College Financial Aid

Rich people and people in the know always game the system.

Many people are doing it cause it is so easy to do.

I have encountered this problem many times during my tax practice. Rich or poor, college tuition is a killer. Rich folks make money but paid as much as 28% percent of Federal taxes. That exclude State and local taxes, SS & MC taxes. Plus living expenses and indirect taxes. How the hell people will survive? 

Django, since you brought up the topic, do you pay self-employ taxes, issue W2's or 1099 Misc, offer medical or unemployment for yourself or anyone in your company/business or are you a loner? 

I am never interested in gaming the system. That said, I wouldn’t consider myself rich either. Being able to come to America and rid myself circumstances of the wicked PNC is enough of a favor to me. The rest I will gladly pay for. I am, however, not averse to gifts as in the case of my daughter earning two degrees on scholarships or my boy getting to do his associates at no charge. I stay far away from illegal or unethical practices.

Prince posted:

Django, since you brought up the topic, do you pay self-employ taxes, issue W2's or 1099 Misc, offer medical or unemployment for yourself or anyone in your company/business or are you a loner? 

Used to except Medical Insurance, no more employees. Two of us running the show.

Bhai, nothing is illegal when you understand the loopholes. Having money and wasted it unnecessarily is unwise. I may not like Jagdeo but I love his economic sense.   

Prince posted:

I have encountered this problem many times during my tax practice. Rich or poor, college tuition is a killer. Rich folks make money but paid as much as 28% percent of Federal taxes. That exclude State and local taxes, SS & MC taxes. Plus living expenses and indirect taxes. How the hell people will survive? 

I used to pay huge amount in Self Employment and Federal Taxes,the highest was 30k, for one year.

Django posted:

Prince posted:

Django, since you brought up the topic, do you pay self-employ taxes, issue W2's or 1099 Misc, offer medical or unemployment for yourself or anyone in your company/business or are you a loner? 

Used to except Medical Insurance, no more employees. Two of us running the show.

Are you an S-Corp? Great way to rip the govt off and advantageous to your personal taxes.   

Prince posted:

Django posted:

Prince posted:

Django, since you brought up the topic, do you pay self-employ taxes, issue W2's or 1099 Misc, offer medical or unemployment for yourself or anyone in your company/business or are you a loner? 

Used to except Medical Insurance, no more employees. Two of us running the show.

Are you an S-Corp? Great way to rip the govt off and advantageous to your personal taxes.   

2  LLC , one Comm-RE the other Repair Service. I am throwing back now, no more investments. Children are 22 and above.

Django posted:

Prince posted:

Django posted:

Prince posted:

Django, since you brought up the topic, do you pay self-employ taxes, issue W2's or 1099 Misc, offer medical or unemployment for yourself or anyone in your company/business or are you a loner? 

Used to except Medical Insurance, no more employees. Two of us running the show.

Are you an S-Corp? Great way to rip the govt off and advantageous to your personal taxes.   

2  LLC , one Comm-RE the other Repair Service. I am throwing back now, no more investments. Children are 22 and above.

So meh can't get much to I sue you rass?   Anyway, thanks for playing along. I am semi-retired but involved in other activities. 

Prince posted:

I am semi-retired .

Same here, work few hrs a day m - f .