Do I need to incorporate a partnership or anything?

[IamTheCasino]

Well, sure, when they are pass-through entities. I am asking how to pay flat Corp tax AND avoid double taxation.
@BMK, any suggestions?

Why would you want to pay a corp tax rate if you dont have to? lmao, pretty stupid. If you know how to use the taxcode to your advantage you can put your rate below the going corpo tax rate by using a pass through entity.

There are also charitable llcs. Educate yourself https://web.archive.org/web/2020101...lars-and-legally-pay-zero-taxes/#71df0a9c1608

 

[veronaruffin]

Well, I don’t think that the internet is the right place for you to ask about your taxes. You must get in touch with a bookkeeper in your area to get the required solution.

 

[cruisecontrol]

if you arent dumb

If you know how

Educate yourself

How about if you don't want to share anything, then just don't post? You're shitting up the thread.

Highly doubt you have anything to contribute anyways. The one link you posted is some small time stuff everyone already knows, with a click bait title.

 

[cruisecontrol]

For income that has already been made in a taxable account, there's probably not much you can do besides maximizing your deductions. Reducing taxes requires planning ahead and having the income generated in the right place.

Tax free accounts are okay, but the contribution limits are a bummer, and in some countries they will even revoke your tax free status if you make too much money. Because "you appear to be running a trading business our of your tax free account".

The best way I know to minimize tax is to actually move to a low or preferably 0% tax location. You might need to do your trading through a corporation to get the low rate, depending on the location. Do the math on how much the lower rate boosts your CAGR. With no tax, if you are any good at trading you can be rich in 5-7 years. Then when you are rich, live where ever you want and just pay the taxes.

 

[Saltynuts]

And if you don’t take profits, there’s Accumulated Earnings Tax to deal with.

That is a touchy-feely tax, can be very subjective, and not something the IRS can easily hone in on, much less win in court on. But still, incorporating when corporate rates are likely going up bigly is nuts.

 

[Saltynuts]

Depends on your structure. And if you arent dumb, you can avoid double taxation. Also having a biz lets your write a ton of shit off to offset it. Playing the tax game is how you get wealthy.

1. Yes, you can avoid double taxation, such as by trying to pay out all your profits as salary. However, if you do that, why have the corporation in the first place?

2. Pray tell, what write offs can corporations get that individual proprietors or tax partnerships cannot get?

Hint: You are in over your head here. In addition to everywhere else lol...

 

[qlai]

The best way I know to minimize tax is to actually move to a low or preferably 0% tax location.

Yeah, I will be moving my Corp to Florida.

 

[Saltynuts]

Well, sure, when they are pass-through entities. I am asking how to pay flat Corp tax AND avoid double taxation.
@BMK, any suggestions?

You CANNOT. You can be a C corp, but then you will be subject to double tax on anything that you do not pay yourself as salary, rent or for other items. But if you are paying yourselves for those things, to zero out your C corp's profits and avoid the double tax, then you are NOT paying the C corp 21% rate, you are paying it at your individual tax rate (which would probably be 37% for me and you, more like 12% for people like Iamthecasino and destinero or whatever his dork name is lol). So no reason to have it in the first place.

 

[Saltynuts]

How about if you don't want to share anything, then just don't post? You're shitting up the thread.

Highly doubt you have anything to contribute anyways. The one link you posted is some small time stuff everyone already knows, with a click bait title.

You are correct. He has absolutely, positively nothing to contribute. He doesn't even understand the subject matter lol.

 

[Saltynuts]

For income that has already been made in a taxable account, there's probably not much you can do besides maximizing your deductions. Reducing taxes requires planning ahead and having the income generated in the right place.

Tax free accounts are okay, but the contribution limits are a bummer, and in some countries they will even revoke your tax free status if you make too much money. Because "you appear to be running a trading business our of your tax free account".

The best way I know to minimize tax is to actually move to a low or preferably 0% tax location. You might need to do your trading through a corporation to get the low rate, depending on the location. Do the math on how much the lower rate boosts your CAGR. With no tax, if you are any good at trading you can be rich in 5-7 years. Then when you are rich, live where ever you want and just pay the taxes.

Moving to a low tax jurisdiction may indeed save you on state taxes, but will not save you anything material in federal income taxes. I think you know that just wanted to make sure. Trump more/less eliminated the federal income tax deduction for state taxes a few years back.