Who Should You Listen To?
Here is a little example of what is taught through SmartPeopleSmartMoney...
If you are up for the challenge of experiencing Financial Freedom, read on:
a) Lower you expenditures ( takes discipline ).
b) Create a business around your current occupation ( takes knowledge, perseverance and discipline ) or start something you've been wanting to do / sell / service.
c) Make sure that S Corp, C Corp, LLC, etc. which runs your business pays you no more than $10k per year ( no tax due under this amount nor need to file ).
d) Use the benefits of drawing money through this entity as a way to pay for most things first ( costs of doing business, automobiles, travel, food, insurance, etc..).
e) Have the company buy an "investment" property which you happen to lease / rent.
f) Make investments out of the profits, or make secured loans, or last resort, pay yourself a bonus ( which will be a taxable event ) and whatever is left at the end of fiscal year, is taxable... if nothing, then nothing is taxable.
This is the game which is available through running a company aside from being an employee of a company.
As an employee, you are bought the first day you start working ( 15 years old for me ) and traded the day you are laid off / fired... and then put out to pasture the day you are of no further use ( folks think "they" choose to retire ).
But when you decide to financially act your way out of broke, bad credit, debt, or not sure why you are two to twenty weeks from default if laid off / fired / whatever.... you'll be glad you made that choice.
If you are up for the challenge of experiencing Financial Freedom, read on:
a) Lower you expenditures ( takes discipline ).
b) Create a business around your current occupation ( takes knowledge, perseverance and discipline ) or start something you've been wanting to do / sell / service.
c) Make sure that S Corp, C Corp, LLC, etc. which runs your business pays you no more than $10k per year ( no tax due under this amount nor need to file ).
d) Use the benefits of drawing money through this entity as a way to pay for most things first ( costs of doing business, automobiles, travel, food, insurance, etc..).
e) Have the company buy an "investment" property which you happen to lease / rent.
f) Make investments out of the profits, or make secured loans, or last resort, pay yourself a bonus ( which will be a taxable event ) and whatever is left at the end of fiscal year, is taxable... if nothing, then nothing is taxable.
This is the game which is available through running a company aside from being an employee of a company.
As an employee, you are bought the first day you start working ( 15 years old for me ) and traded the day you are laid off / fired... and then put out to pasture the day you are of no further use ( folks think "they" choose to retire ).
But when you decide to financially act your way out of broke, bad credit, debt, or not sure why you are two to twenty weeks from default if laid off / fired / whatever.... you'll be glad you made that choice.
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