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Or setup a contracting corporation, accumulate your consulting income in the corporation. Have a home office. Pay yourself as little as possible to cover livin
by TimPC 7y ago
Or setup a contracting corporation, accumulate your consulting income in the corporation. Have a home office. Pay yourself as little as possible to cover living expenses during the 5 year period and accumulate all the capital in your corporation. Pay your 10% on that small amount. Cash out the corporation afterwards, possibly over several years to lower tax burden.
- pmiller2 7y agoI have a feeling that would be a breach of contract due to fraud. I also think that since you were able to come up with it, other smart people would be, too, and some of them would be people drafting these income share agreements.
- Spooky23 7y agoUsually these financial engineering schemes gloss over obvious defects and stick the investor with the risk. The whole reason that student loans are non-dischargeable is that medical students would become doctors, then leave the country for enough time for debt to go away.