About joshuatrio

joshuatrio


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In United States
Registered Dec 02, 2009


joshuatrio's most recent comments:

  • On 29 Nov 2014 in Obamacare - Medicaid - Starting business - Risk free?, joshuatrio said:

    Well, sat down with a CPA the other day - Call it Crazy was right.

    Income earned is income earned as an LLC. So if I made 100k, I couldn't "pay myself" just $25k and have the business hold onto the other $75k. The guv sees my income as $100k and that's it.

    However, if I incorporated as a class C corp, it's possible to do it where you only pay yourself $25k and the biz keeps the $75k - however you are subject to double taxation, which doesn't make sense financially at this time.

    The CPA I met with didn't seem like the sharpest tool in the shed, so I'm going to meet with another one.

    I'm wondering if (as an LLC), if I could park everything in pre-tax 401k's/IRA's and then my income is only the remainder. Therefore qualifying for medical subsidies.

  • On 21 Nov 2014 in Obamacare - Medicaid - Starting business - Risk free?, joshuatrio said:

    Definitely going to go talk to a CPA and Tax Attorney.

    I have sufficient cash to cover myself for a few years.

    I checked out covered California the other day and couldn't believe how steep the subsidies were for low income. Full coverage for virtually nothing.

    Figured if I just reduced my income enough, it made sense.

  • On 21 Nov 2014 in Obamacare - Medicaid - Starting business - Risk free?, joshuatrio said:

    So you would have to set your business up as a different type... ?

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