/biz/ - Business & Finance

>>58333819
You don't even need an LLC, declare it yourself after debtmaxxing and it's a clean slate.
Ramseycucks will pick up the tab.

I really feel like this would be held against him in court, or could open to a separate fraud sort of lawsuit.

>>58333819
Wow what did he do? You have to fuck up pretty hard to get disbarred.

>>58333819
you can do this but then you have terrible credit score for life and are never allowed to ever get loans or credit cards again

Oh, also, this is precisely why you can't discharge your student loans in bankruptcy in case you were wondering. Specifically because lawyers were doing this.

If you spend a penny of LLC debt on yourself and go through bankruptcy, they will crush your nuts in a vice for the whole amount. You cannot "go on a luxury vacation" and then file for a whoopsie.

>>58333938
>life

it goes away after 7 years, it's a long time but not life

Wait until you hear about richfags doing almost everything through their companies for tax deductions. Going on holiday? They book 1 ‘business meeting’ and then all expenses from flight to accomodation is business related and the wagies get to cover the bill with their taxes. It’s fucking revolting how many loopholes like this exist for richfags to use

>>58333819
> i am aiming to become a failure
looks like we got a high achiever here

>>58333993
If only we switched to a flat sales tax so everyone pays the same. Could also get rid of the retarded tax filing system we have to do every year and pay a company to do

>>58333993
it's not like poorfags pay much in taxes to get back anyways, most don't even pay like 10k per year so those deductions wouldn't do them any good anyways.

>>58333952
but can you use the credit card to pay the loans? and then call bankruptcy?

>>58334073
I would not expect that to work.

>>58333993
>and the wagies get to cover the bill with their taxes.

no. The business pays for it and the business expense lowers companies profits so they don't pay as much taxes since they report a lower net profit. All business even small businesses do this for almost everything.
At end of day it's nothing major it's just a ~20% discount on everything since it gets written off against profits that you would have had to pay taxes on.

>>58333933
nah you just get caught saying anything mildly antisemetic
looking at him, he seems fairly based, id guess this was the case.

>>58333993
just remove the tax altogether, no more loophole

>>58333819
What do you think Jews do their entire life? Work?

>>58333819
>can not get a mortgage
>car loan
>rent
would be fine if the economy wasn't based on debt

>>58333819
Basically yes. The only caveat is that you can be held accountable if you didn't seem responsible with your business (for example paying yourself outsized salaries).

>>58333916
No, this doesn't work because it will wipe your credit file and you won't be able to so much as rent, let alone buy property or a car, for 5+ years after. With the llc you can just dissolve and create a new one to start afresh.

>>58336271
The only time you're held responsible is if you lose 3 billion and you're on the run in Portugal
They only go after big fish, it's shocking how many mindbroken normies come on here and say they will come after you for even 500k in debt

>>58333819
This is what most of "private equity" is in practice. Even the large banks are doing it and it's going to cause a worse liquidity crisis than commercial real estate.

>>58336289
It's always the same: it depends who likes you and who doesn't. They absolutely can go after you for even $10 if someone reports you.

>>58334041
Why are we taxing individual income to begin with?

>>58336314
The roads.. you really need the roads don't you? That's what the taxes are for the roads.. and the roads.. the roads.. and education where they teach circumcision is good for the brain and body.. and the roads.. the roads and the roads the roads are very important how would you live without the roads?

>>58336347
Oh come on, don't be a retard. It's for the pajeets and the apes. Who would pick our cotton without them?

>>58333819
>>58333819
Just as easy as making it playing with NFT nigger
remember when everyone were buying monkeys for thousands of dollars? well there's a lot of people doing the same with ORB

>>58333933
Not really anymore. They're disbarring attorneys in California for what essentially boils down to supporting Trump. If it keeps up, you could imagine we'll need two separate bars/judicial systems in this country.

>>58336380
It's a well known FACT that only governments can build ROADS. such technological marvels are beyond the understanding of mere mortals, luckily we have government officials to direct us to glorious civilization using taxes.

if you file for chapter 11 they will look at any assets you have that aren't necessities and used those to pay some of the debt. and if you high your assets and they catch you, you go to jail

>>58334051
>it's not like poorfags pay much in taxes to get back anyways,
ikr. i hate the whole rich should pay more taxes cope . Like bitch, you dont even pay taxes lol.

>>58333933
It appears he fired some of his employees for joining a union and then sperged at the judge about "muh free market" when charges were brought against him.

>>58336062
holy fuck, then no one would do business. lmfao. just like socialism.

>>58336746
Move all your assets to a offshore trust outside of US jurisdiction like rich people do

>>58333819
You know what's easy? the final boss of DS3.
Do you know what's hard? Getting my village to stay healthy in blocklords

>>58334041
nah, sales taxes are regressive and they hinder productivity. just privatize everything except for the army and the state itself and levy a tax specifically for that

>>58333993
>It’s fucking revolting how many loopholes like this exist
it's a business expense. they go and do some sort of business even if it's a quick lunch meeting. that's not a loophole

>>58334091
can't you just take cash out in small amounts every week and then deposit in another bank account then pay your student loans and decclare bankruptcy a week later? What's the limit on 1 credit card? maybe have like 4-5 of them

I have about 50k of unused lines of credit and have my house paid for. Would it be a wise financial decision to maxx out my credit lines and the just not pay it back? I can't see myself ever doing anything great in life that would require me to use debt to create income. Im too stupid for that.

>>58337430
You and everybody else know very well that most rich people abuse it. If they plan on going on vacation somewhere privately for 2 weeks, they conveniently set up one little meaningless 15 minute business meeting there because that allows them to use untaxed company funds to pay for the whole trip. Disgusting

>>58333819
and yet Biden wont let me declare bankruptcy on my student loans.

>>58338094
You'd do the same thing faggot

>>58337913
No they will take away your house, debtmaxxing only works if you dont have any assets at all except for self custodied crypto because they cant confiscate that away especially if its in XMR. They can confiscate any asset you have and use it as payment for your debt including stocks, gold, real estate etc. If you really want to do this liquidate all your assets first.

>>58333938
Bullshit. You get high interest credit cards in the mail the next week after filing BK.

Source filed BK ch 7.

>>58333993
>It’s fucking revolting
Mad.

>>58333819
I've found that there's a lot of shit like this that works for anyone in the 5-figure range. Tons. Like all those online digital marketing gurus and ebay and real estate rentals and small businesses, etc.

All of that shit actually works if you're in the 5 to low 6-figure range. It's genuinely not worth your time if you're at $3 million+, which I realize is not most people but still.

>>58338179
There's laws against them taking your house and 1 car, but they will take away anything else. Also you're setting yourself up for all kinds of other problems if you do it. Let's say you have kids for example and, God forbid, you end up with a divorce. The bankruptcy will likely affect custody rights, even if you "did it on purpose" or some shit.

>>58338370
McWagies subsidizing your trip to the Maldives should be mad, kek

>>58338094
Shit I didn't know about all this and my business finally starting to provide returns, its like a whole new world has opened up for me. Time to research and start abusing the fuck out of everything.

>>58336614
But roads only exist to transport our cotton, without which we would all be naked. It's well known that nobody wore clothes until niggers and pajeets got to collecting our cotton.

>>58337134
>>58334041
Call me a fag but I think that the .gov should fund itself entirely from tariffs and import/export taxes.

>>58333993
>the wagies get to cover the bill with their taxes
are you fucking retarded? how the fuck does an employee pay for business trips of his employer through taxes. jesus fucking christ i've seen some retards in this place but you're easily top 3