41–50 of 81 posts
Genuine question: who is the audience for this? Or more broadly, what is the purpose of this piece? Any 26yr olds care to chime in? Are there people that get something out of this? What's that like?
selling a self-help book.
> Are You Operating With Maximum Energy?
> For those who are tired of dragging through the day, who want to get back the fire they once had, who are ready to reclaim your natural energy… this is your book.
> When you work for yourself there’s flexibility with how much tax you pay, and most importantly, when it must be paid. > > That means you can earn half the salary from a job and still take home more money. Genius. Either this guy doesn't understand how income tax works, or I don't. (Or he's just lowkey recommending tax fraud)
>Either this guy doesn't understand how income tax works, or I don't. (Or he's just lowkey recommending tax fraud) What you're missing is tax deductions. when you operate as salary, you get no deductions and pay maximum taxes. When you operate as sole proprietorship you can deduct 'business expenses' Business travel and parking? Deducted. Any new gadget or widget? Deducted. It doesn't create new money, you have to st…
> When you work for yourself there’s flexibility with how much tax you pay, and most importantly, when it must be paid. > > That means you can earn half the salary from a job and still take home more money. Genius. Either this guy doesn't understand how income tax works, or I don't. (Or he's just lowkey recommending tax fraud)
>Either this guy doesn't understand how income tax works, or I don't. (Or he's just lowkey recommending tax fraud) What you're missing is tax deductions. when you operate as salary, you get no deductions and pay maximum taxes. When you operate as sole proprietorship you can deduct 'business expenses' Business travel and parking? Deducted. Any new gadget or widget? Deducted. It doesn't create new money, you have to st…
> When you work for yourself there’s flexibility with how much tax you pay, and most importantly, when it must be paid. > > That means you can earn half the salary from a job and still take home more money. Genius. Either this guy doesn't understand how income tax works, or I don't. (Or he's just lowkey recommending tax fraud)
> When you work for yourself there’s flexibility with how much tax you pay, and most importantly, when it must be paid. > > That means you can earn half the salary from a job and still take home more money. Genius. Either this guy doesn't understand how income tax works, or I don't. (Or he's just lowkey recommending tax fraud)
If you run your own company you have many opportunities to turn your normal purchases into business expenses. At least in the UK: * Dividends pay less tax than income. * Any work related equipment is a deductible expense. Includes computer, mobile phone, etc. * A company car, particularly an electric one, is much cheaper than buying a car as a private individual. Those are just the basics.
I know "everybody and her mom" is doing it, but it's still fraud. If you get caught it could have quite bad consequences.
For number 4, what should one do other than work? Number 6 seems to be their answer, but that's still "work" just not at a salaried job. For number 6, any details on avoiding taxes? Are they in a different jurisdiction? My experience is that self employment taxes (FICA), and the need for benefits makes it so you cannot earn half as much and still take home more.
We set up a solo 401k let us max out tax-deductible contributions on the employer side as well as the employee side, which is great for our early retirement plans because we have a much higher limit than if we were contributing to a typical employer’s plan. We are also able to work part-time without forfeiting our ability to participate in the plan, unlike a lot of employers which only offer retirement accounts to full-time employees.
We also realized that at least in our state, the income threshold for qualifying for state-sponsored health care is based on adjusted gross income. Our ability to contribute so much of our income to pre-tax retirement accounts means that we can qualify for health care despite earning significantly more, as long as we’re putting all the extra into the retirement accounts. We have to keep our spending low to be able to save that much, but that’s in line with our FIRE goals anyway.
Genuine question: who is the audience for this? Or more broadly, what is the purpose of this piece? Any 26yr olds care to chime in? Are there people that get something out of this? What's that like?
I reckon that this post resonates with exactly who he’s describing in the title: Twenty-somethings (predominantly male), who are looking for advice that would give them (theoretically) a ten-year head start on whoever doesn’t read this post?
https://kk.org/thetechnium/103-bits-of-advice-i-wish-i-had-k...
Skimmed these. Oof. The updated post at age 46 should be pretty funny. > At 26 I had a closed mind, eating disorder, and thought I was smarter than Einstein. At 36 I’ve come a long way. Mmm.