301–310 of 413 posts
Earlier quoted context omitted.
He also has a church and is a life coach on Only Fans... you know, real classy person. :smh-forever:
Well, you gotta admit he does a lot of work. I'm too wiped after my 8-5 to even work on fun stuff, so I'm kinda impressed how people find the time to do all this.
One item seems to have caused a lot of confusion in the comments so I will take a stab at clarifying: It is perfectly legal for Netflix to ask for options or any other consideration in exchange for the contract. Companies do this sort of thing frequently. They know that merely signing a large contract with a large firm will increase the value of the contractor. It is not legal for someone working for Netflix to ask f…
"It's not about fairness, it's about theft"
Which was also applicable to that college admissions thing. The problem is not that people were buying their way into schools. It's that they were paying someone other than the school to do so. The situation as a whole feels a bit dodgy, but the core legal problem is the guy took something that really belonged to Netflix.
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Not necessarily, see 'piercing the corporate veil'.
Sure, but this is the exception that proves the rule: > generally courts have a strong presumption against piercing the corporate veil, and will only do so if there has been serious misconduct. Courts understand the benefits of limited liability... As such, courts typically require corporations to engage in fairly egregious actions in order to justify piercing the corporate veil LLCs still protect personal assets in…
"forming an LLC will not protect you against personal liability for your own negligence, malpractice, or other personal wrongdoing that you commit related to your business"
from https://www.nolo.com/legal-encyclopedia/limited-liability-pr...
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The 401k part is available to sole proprietors too. "Solo 401k" or SEP-IRA are the tools for the job. They're easy to set up and you can put up to that same limit ($45Kish?) away if you have enough income. And if you have a LOT of income ($200K+?) you can really turbocharge it with a defined-benefit plan, which lets you put away close to 50% of the consulting income for retirement. Most of the other things you list a…
Yeah, that's fair (yeah you can also deduct health care premiums on Schedule C). I think the liability shield is really important though, and if you're not wild about the S corp administrative overhead you can choose to be taxed as a sole proprietor.
"forming an LLC will not protect you against personal liability for your own negligence, malpractice, or other personal wrongdoing that you commit related to your business"
from https://www.nolo.com/legal-encyclopedia/limited-liability-pr...
My understanding is it won't help you if you're just consulting by yourself, because everything is your own action.
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Half a mill here, half a mill there, soon you're talking serious money...? It is possible that your perceptions of how easy it is to extract millions-scale dollars from the business world is skewed. Google suggests 1.7M is the median lifetime earnings in the US, 2.7 is the average. Getting that in a handful of deals could tempt all sorts of people.
I think your parent's point is that this guy wasn't earning an average salary, but a Netflix executive one. In that case, 500k definitely doesn't seem worth risking so much for.
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People often set up an LLC for their consulting thinking it will help with 1) taxes and 2) liability. But neither of those are quite right: 1) the same tax deductions are available on your normal schedule C 2) while acting on behalf of your LLC you’re still personally liable for your actions (let alone your illegal schemes).
> People often set up an LLC for their consulting thinking it will help with 1) taxes and 2) liability. I have a highly paid accountant who says otherwise. Care to elaborate?
The DOJ press release is clearer than this article is: https://www.justice.gov/usao-ndca/pr/former-netflix-executiv... Some fun details: Kail did his criming through a shell LLC he set up called "Unix Mercenary". He took between 10-15% of the total billings for each of the companies he hooked up with this scheme. None of those companies were charged (more's the pity). They got him on mail fraud, wire fraud, honest se…
The DOJ press release is clearer than this article is: https://www.justice.gov/usao-ndca/pr/former-netflix-executiv... Some fun details: Kail did his criming through a shell LLC he set up called "Unix Mercenary". He took between 10-15% of the total billings for each of the companies he hooked up with this scheme. None of those companies were charged (more's the pity). They got him on mail fraud, wire fraud, honest se…
If he was in the lower class then this post would not exist. He's be in jail and it would all be forfeit before due process.
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- "get everything you have to say flagged." I do not care about comments getting flagged or HN karma - " happens all the time" . perhaps this is why it is important to consider whether the UX can be improved. I am not saying links should not be replaced - I am saying the UX should be improved when this happens. _
HN's UX here is good. Stories are community property; they do not belong to the person who submits them. It's a basic rule of the site, and a very good one.
HR execs are expected to pull this stuff as a matter of routine. The other CxOs know that if they prosecute their HR director, the next one will be just the same, or it will be hard to hire one. If your HR director doesn't, why would they be in HR?