…working a job, that is. We know we’ve heard this before, but now, even the idiot box is acknowledging the fact we can never get ahead without starting our own business. I’m not saying you have to go out and create the next Ebay to survive, yet some simple changes to the legal structure of your life could yield some very favorable results for you and yours. If you need help with this, I do recommend speaking with a tax attorney to set up the right structure for you. Seeing as though this route may intimidate some people, there are books we can read to make the process a little more cost effective (‘Incorporating You’ is a good one). I ain’t paying no stinking $300 an hour to talk to an arrogant jerkoff!
You Can’t Get Rich
Some of the knowledge I’ve managed to keep inside my head is amazing to me. When I search the neural scrolls inside my own cranium, the information I find has helped me establish businesses in my life which provide benefits I believed everyone else knew about. I was wrong! This is the whole reason the consulting business works. About 6 years ago, I unwrapped a simple truth. Some people are averse to learning knew things, thus, they pay consultants well to solve the problems they are unwilling to deal with.
That’s not the only reason someone would hire an outside expert. Some people don’t want to spend the mental capital it takes to master the intricacies of human resources , therefor, they hire someone with the knowledge to perform the required task for them. Smart. Others have no time to learn all there is to know about website development, so they bring in a talented programmer for $30 an hour. Bingo! We should be picking up on something right now. One to one utilization of time for money is a losing game.
We only have so many hours in a day, needless to say, we can only get so much done. By paying others to take on tasks FOR US at a 0% learning curve, our time just became ours again. How? When we are at our job, someone is working for us. When we are out shopping, someone is working on our project. While we sleep, someone is finishing up our latest project. Use other people’s expertise and time to free up your own.
Now, I mentioned some legal stuff above to help you reduce your taxes and make more money. Remember, I’m not an attorney so don’t take what I say as legal advice, but it f*cking works. Even if you don’t sell anything, it is feasible (and favorable) to incorporate yourself. I’m setting up an “S Corp” to take advantage of the benefits it provides for start up businesses, namely, writing off my start up expenses against the income from my job. Sweet! I’ll now pay no taxes. Later I’ll convert this to a “C Corp” to take advantage of 100% deductions of medical expenses, a $25,000 allowance for a company vehicle, and protection from vultures inching for a lawsuit. It’s amazing what the rich know that makes them rich.
In case you didn’t get that, deductions (write-offs) are saved money, thus, earned money we get to keep. Now that we get to keep all the money we earn (no matter how high taxes get), we can do more in our lives to enjoy it. I don’t need to consult a lawyer for anything I do because I’m not a needy, dependent barnacle of the system. I believe in myself, so I don’t need any outside advice from anyone. All contracts can be broken, thus, lawyers are useless in this regard. Take renter’s for example. All renter’s sign a lease. This is an enforceable, legal contract, yet think of all the deadbeats who don’t pay their rents. Some of these crooks even use the law to override their legal obligation. See…useless.
All that matters in any court is INTENT. The purpose of all the contracts, addendums, and add-ons is to convey the intent of a buyer and seller, period. Once we understand this, we can go forward with no fear. Knowing you can explain yourself in a court of law without duress overcomes our lack of knowledge. Learn how to argue against policy to get to the INTENT of the policy. Then, we may be able to render the policy obsolete.
Professor X