Get a job?

Little Nicky

I actually have quite a few corporations I own in Nevada for tax purposes. I make a nice living off my trading but didn't reply to this thread originally because I make money in other areas of my life. (reduce pressure so I can trade only when the odds are right)


Here is the link to one of the firms I'm with.

http://www.sageintl.com/

I take this to a different level than most. I live in Nevada. ( I have rent checks, a drivers license, registered car, some reciepts which is enough for the goverment to prove I live there. but-- I reside/ live in San Diego) so I don't pay state taxes, no corporate taxes, reduced liability, lower insurance, amoung a few things.


rtharp
 
rtharp,

I think Florida has also no state taxes.. but could you comment on corporate taxes.. do you mean federal taxes? I know you pay Federal regardless of location..

Thanks
 
I'll give you a clue. Where does Nevada get the majority of it's money from?

That's why the reduction in taxes. It has a huge source of income constantly.

My corporation pays no taxes to the state as it is a seperate unit from me. Other states charge corporations taxes. I pay no state taxes as am employee of the corporation.

I do pay federal there is no way of getting out of it, plus as a human I should pay some taxes. I just want to pay a fair share, not a major portion of my income.
 
mgregor

Respectively, I realize that, but I am mentally trying to establish a long term goal. Plus, its really intresting! I love talking and reading about this kind of stuff.
 
Our buddy is right concentrate on trading. Yes there is a lot of lawsuit protection for me. My corporation can still be sued but they way I've got it structured it isn't that easy.

Become a profitable trader first, than work on keeping more of what you have.

rtharp
 
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