bfj wrote: ↑Fri Feb 02, 2018 4:55 pm
Fuck Kranepool, LLC is available.
That really would be a pretty awesome name to give to your employer for where you want your money sent. Really anything in that kind of vein would be awesome:
Definitely Not A Child Porn Business, LLC
Plutonium Importers, LLC
CIA Front, LLC
I once opened a Vandelay Industries, LLC. I also had something with Rassele and Cerrano in the name, but I don't remember exactly what it was.
An honest to God cult of personality - formed around a failed steak salesman.
-Pruitt
bfj wrote: ↑Fri Feb 02, 2018 4:55 pm
Fuck Kranepool, LLC is available.
That really would be a pretty awesome name to give to your employer for where you want your money sent. Really anything in that kind of vein would be awesome:
Definitely Not A Child Porn Business, LLC
Plutonium Importers, LLC
CIA Front, LLC
Not the same thing, but the name of my wifi network is FBI Surveillance Truck.
Gunpowder wrote: ↑Fri Feb 02, 2018 11:40 am
- They are going to pay me my current salary AFTER TAX, and told me I can "write off miles and meals and etc..." and it should leave me with no tax liability. I don't believe it. Contract will 1099 me for 2 months, so I'll exceed the $5000 in deductables from the EZ form. Is this somewhat realistic or as crazy and tax-fraudulent as it sounds?
Hold up, so let’s say you make $100,000 and after taxes you bring home $72,000. They are then going to pay you $72,000 as a contractor? Cutting your salary by 28% plus saddling you with SE tax? Even though you can write-off expenses and 1/2 the SE tax will reduce your AGI, sounds like they are going straight in with no Vaseline.
Their expense goes down and they don’t have to pay any employer taxes on you either.
I hope those folks get in some trouble for this one.
Yep. My boss had told me I could (paraphrasing) write off all of it. (He's not the one who is trying to get people to sign the form). I was skeptical at best but now know it's not going to be possible without a ton of (illegal) work on my part.
No one has signed it and no one is going to at this point.
Pack a vest for your james in the city of intercourse
The Sybian wrote: ↑Fri Feb 02, 2018 4:51 pm
If you are interested, here a link to Dept of Labor's criteria for determining if you can be classified as a contractor:
Unless they are changing the nature of your job responsibilities, I doubt they can correctly classify you as a contractor. If you do go that route and sign, you are not waiving your rights to bring a claim of misclassification, even if the agreement says you waive that right. You should also look into forming an LLC or Corp, and get paid through that entity. You will almost always have tax savings through an LLC or Corp., and it's a very minimal expense.
So a couple years after this, I'm largely in the same boat though of my own volition. It's likely going to be necessary for me to become a contractor with my company instead of a full-time employee, which will allow them to just pay me our agreed-upon salary, but I'll be responsible for all of the tax implications (though my surface reading of Mexican tax law seems to indicate that as a non-resident whose primary work is done for US clients and for an employer located in the US I will have no Mexican income tax liability. I'll have full US tax liability though of course.
So anyway, long short short it looks like setting up an LLC is in my semi-immediate future. Any advice from the lawdogs here on how to go about that. Looks like it might even be simple enough to try and use a service like Legal Zoom or something (shit like this is basically what a site like that should be able to be perfect for) though I obviously don't want to fuck something up. Any and all advice would be appreciated.
(I did talk to HDO about this from the tax side as well and his (good) advice was to not try and avoid Mexican taxes, but I'm pretty confident my reading of the situation is correct.)
I have to start thinking up an awesome LLC name too (other than Fuck Kranepool, LLC).
Chip in Exile
Pure Mexican
Central Mexigan (or Central Mexigangster)
Down (the Rio Grande) River
Border Jumper
Puerto Va-Detroita
The Water's Still Bad
William Clay Ford's Revenge
Matt Patricia's Donkey Show
Yoopercatan Peninsula
Murder Mitten Cartel
El Guero Exilio
mister d wrote:Couldn't have pegged me better.
EnochRoot wrote:I mean, whatever. Johnnie's all hot cuz I ride him.
Honestly the more I read about all this I don't think I'm going to have to mess with it at all. Apparently Mexico doesn't care as long as you're working for a US firm getting money deposited into a US bank. So that's kind of a relief really. I am going to have to setup a virtual mailbox though or something like that so I can maintain my US/Nevada residency for voting/tax purposes.
Yeah most state websites have online forms that are pretty dummy proof. Quick and easy. Most default to LLC but thats probably the hardest thing as to choice of entity. Get an EIN. Read up on local business tax/license requirements. Ask what the bank needs, usually an EIN and Articles of Organization (state website will typically prepare for you). Probably a good idea to find a form operating agreement but probably not required if a single member LLC. Check to see if you need to run an ad in your state. Easy peasy mostly.
Steve of phpBB wrote: ↑Tue Sep 29, 2020 12:03 pm
If you are setting up a single-member LLC, then it's pretty easy and Legal Zoom would be fine.
All any lawyer would do is use a template from a previous LLC he or she did, so that's not much different anyway.
Fully agree with this. The asshole law firm I used to work for basically created LLCs and Corps as a loss leader for doing legal work for the businesses as they got up and running. One thing you will need is a Registered Agent in the state you create the LLC, which is basically an address where the State can serve legal documents on the business entity. Make sure you understand the tax and legal differences between an LLC and Corp in whatever state you choose to form the entity. In NJ, for a single member entity, an LLC was always a better option for tax purposes, but other states a Corp or S-Corp might make sense. Fortunately, I am 7 years removed from that shithole, and I've blocked those years from my memory.
An honest to God cult of personality - formed around a failed steak salesman.
-Pruitt
HaulCitgo wrote: ↑Tue Sep 29, 2020 12:22 pm
Yeah most state websites have online forms that are pretty dummy proof. Quick and easy. Most default to LLC but thats probably the hardest thing as to choice of entity. Get an EIN. Read up on local business tax/license requirements. Ask what the bank needs, usually an EIN and Articles of Organization (state website will typically prepare for you). Probably a good idea to find a form operating agreement but probably not required if a single member LLC. Check to see if you need to run an ad in your state. Easy peasy mostly.
Completely forgot, I formed an LLC in NJ for my wife many years ago. Fill in the blanks on the State website, answer a bunch of questions about naming officers and a registered agent, and that was it. It's a very nominal fee in most states, and I think the EIN is free.
An honest to God cult of personality - formed around a failed steak salesman.
-Pruitt
Johnnie wrote: ↑Tue Sep 29, 2020 11:50 am
Chip in Exile
Pure Mexican
Central Mexigan (or Central Mexigangster)
Down (the Rio Grande) River
Border Jumper
Puerto Va-Detroita
The Water's Still Bad
William Clay Ford's Revenge
Matt Patricia's Donkey Show
Yoopercatan Peninsula
Murder Mitten Cartel
El Guero Exilio
Still bothered that Howard did not use my suggested name of Reynolds Nap.
I suggest Ver Mas Estadounidenses.
“The running, the jumping... a celebration of life.”
Johnnie wrote: ↑Tue Sep 29, 2020 11:50 am
Chip in Exile
Pure Mexican
Central Mexigan (or Central Mexigangster)
Down (the Rio Grande) River
Border Jumper
Puerto Va-Detroita
The Water's Still Bad
William Clay Ford's Revenge
Matt Patricia's Donkey Show
Yoopercatan Peninsula
Murder Mitten Cartel
El Guero Exilio
Still bothered that Howard did not use my suggested name of Reynolds Nap.