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Having been pitched a few of these schemes by CPA's and trust attorneys after selling a business I had one conclusion: It's just not worth the incredible compl
by a5seo 16y ago
Having been pitched a few of these schemes by CPA's and trust attorneys after selling a business I had one conclusion:
It's just not worth the incredible complexity that will ensue to do most/all of these things. I think especially in light of PG's post about avoiding conflict and big transactions to keep focus.
Maybe if I were retired and done with the "game" I would have more willingness to try these... or maybe if my wealth was in the billions, I might view these strategies as sport or some kind of contribution to CPA employment levels, but overall pursuing complex strategies like these for anyone under 60 without a penchant for paperwork and dull conversations with lawyers is suicide.
Also, there's always the risk of an audit from hell. Imagine trying to focus on your startup with that hanging over you.
- jbooth 16y agoTechnically, if after paying the lawyers and CPAs, you turn a penny of profit, it's a profitable move. More to the point, if you work for someone, and can point to that penny of profit after paying your own salary, you just justified your own employment.
- a5seo 16y agoah, but no. it depends on your "cost of capital" -- attention and time are the most costly things in my life, so anything that consumes them need produce much more than a penny of profit.
- jbooth 16y agoThat holds if you're a dynamic startup. Most of the money, and certainly most of the money to be conserved by avoiding taxes, isn't going through dynamic startups.