Any financial consultants based on % of savings?
Thread Starter
Joined: Oct 2000
Posts: 17,288
Likes: 39
From: Nashville
Seeing how i don't really like bookkeeping/boring accounting crap.... i am pretty good at finding savings..
Client was making $80k or so and rising as self employed..paying full 15.3% on his earnings for self employment taxes... i said to start a S corp, pay himself a salary of $50k and get 30k releif from the 15.3% = $5k
This same guy had been a client of where I just started for something like 5 years with very consistant income...no one here was smart enough to suggest this years ago...duh!..
anyway...would be nice to get some of that $5k per year (more when his earnings go up) savings......???
Anyone??? is that legit to work on commissions?
Scot
Client was making $80k or so and rising as self employed..paying full 15.3% on his earnings for self employment taxes... i said to start a S corp, pay himself a salary of $50k and get 30k releif from the 15.3% = $5k
This same guy had been a client of where I just started for something like 5 years with very consistant income...no one here was smart enough to suggest this years ago...duh!..
anyway...would be nice to get some of that $5k per year (more when his earnings go up) savings......???
Anyone??? is that legit to work on commissions?
Scot
Thread Starter
Joined: Oct 2000
Posts: 17,288
Likes: 39
From: Nashville
Also, lots of people pay $3k-$4k for AD&D insurance when they get a mortgage (many examples are for mortages of $50k and under)...DUH!!!!! not only that, but it gets financed into the loan....so they really pay way more....plus as the loan gets older and principal is reduced, they are receiving less insurance coverage..... a life insur policy through most employers is far far cheaper....
How do i get some of the savings if i were to tell these dummies of their stupidity.
Scot
How do i get some of the savings if i were to tell these dummies of their stupidity.
Scot
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