markklarich

7 ms·

1.
Turning startup profits into 100% tax-free gains.
1 points by markklarich 15y ago|0 comments
2.
by markklarich 15y ago
That I did get. Not only did I not get a discussion going,(not for the points--but for the discussion) but at least two people were honestly confused by the post. What I have yet to learn is how deeply to comment if I should comment at all.
3.
by markklarich 15y ago
Actually, the article is a "contrast and compare" statement. Norway is relatively open in its treatment of money and government, witness their handling of taxes. Alternatively, the US is relatively opaque, witness the article. I am not sure
4.
by markklarich 15y ago
I particularly like the pie calculation as it addresses more variables more effectively. I would add that the agreement used (probably an LLC or Limited Partnership rather than a corporation) should provide sufficient flexibility that when
5.
by markklarich 15y ago
Amen.
6.
by markklarich 15y ago
I am not at all sure that those big decisions should be made by consensus, however.I once worked on a deal where the founder was very experienced in group dynamics and he insisted on solving all major issues by majority with all minor issue
7.
by markklarich 15y ago
Many of the tricks used to lower taxes on the wealthy are available to small and medium sized business owners. We can borrow against unrealized gains. We can distribute income that is not subject to social security tax, If one can get a rea
8.
by markklarich 15y ago
Great point. In contrast look at what we generate in this country - http://www.zerohedge.com/article/matt-taibbi-asks-why-fed-ga...
9.
by markklarich 15y ago
Exactly. Thanks.
10.
by markklarich 15y ago
For smaller amounts, how about setting up an account in the US and getting a debit card for the payee? Pay into the local account. They use the debit card.
11.
by markklarich 15y ago
Remember, if you set up an account outside of the US, and its value equals or exceeds $10,000 for even a moment during any year, you have to report it. Not saying you shouldn't do it. But a word to the wise . . .
12.
by markklarich 15y ago
As is evidenced by this and the GE story some weeks ago, it is clear that good (as in thoughtful, experienced, and very legal) guidance in taxes is almost always worth the cost--IF there are big bucks on the table. In my experience, many of
13.
by markklarich 16y ago
As an accountant and tax lawyer who works 100% remotely with clients, I'd like to chime in. I definitely think that there is a place for a service that can help people find accountants and lawyers. The average person has no way of knowing h
14.
by markklarich 16y ago
As a service provider, if I could "buy" a satisfied customer (That means repeat business for the next, say, ten years.) and the "cost" of that customer is 50% off my first job, I'd take it in a heartbeat! If my average bill is $100 and I am
15.
by markklarich 16y ago
The ease with which one can "pierce the veil" varies dramatically from state to state. Another reason to be careful about your choice of location for corporate headquarters, employment, "significant contacts," and so forth. In the meantime,
16.
by markklarich 16y ago
I wholeheartedly agree. Really good point! Wait to swing at that ball until it has almost hit the floor--wait, hold, wait, hold, and wait some more. And other than the fact that the article addresses incorporating in Delaware, why are we li
17.
by markklarich 16y ago
From a tax perspective, locating the US office in a tax free jurisdiction is most wise. These states would include Washington, Nevada, Wyoming, Texas, Florida, and (sort of) New Hampshire. Also, setting up a relationship between the foreign
18.
by markklarich 16y ago
It would help to read this Wikipedia article to better understand this post. The post is based on court filings addressing personal jurisdiction in an internet case. It seems California has weighed in on the subject and knowing what they ar
19.
by markklarich 16y ago
It can, actually, get much worse. While cross examining the other side, the opposition attorney can, and often does, state an assumption in the middle of a question that misstates a fact. If you don't object, then that statement becomes fac
20.
by markklarich 16y ago
Good post!! At the risk of being simplistic, I have long believed that in the world of business there are two types of people -- those who use and enjoy risk and those who are risk averse. Often those who are risk averse become employees, e
21.
by markklarich 16y ago
It might help to take Chris Martneson's Crash Course (www.chrismartenson.com) where he makes it clear that inflation is necessary under the present Federal Reserve system. Although Chris was a biological scientist before being an internet
22.
by markklarich 16y ago
re: "The uncoupled securities now do not just include derivatives but also commodity contracts as exchanges no longer have the limits in place of having actual products to enter into those contracts." This is a subject of great debate among
23.
by markklarich 16y ago
Seems like people would be interested in knowing how many potential suitors were watching their status and waiting for them to become available. You can envision this as the new status symbol. Instead of how many friends you have, it would
24.
by markklarich 16y ago
According to the IRS (I am a tax attorney/accountant) any officer of a corporation is a "statutory" employee. Anything of value that the corporation gives to that person is construed as wages -- subject to SS tax, medicare tax, federal unem
25.
by markklarich 16y ago
This is my first post on Hacker News. Glad to join you guys and see that you're talking about finances. I'm an accountant who is also a tax and business lawyer, specializing in micro businesses and creative projects. Hopefully I can contrib