Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Re: What is taxable income?
Old 01-29-2005, 02:47 PM   #21
Thinks s/he gets paid by the post
retire@40's Avatar
Join Date: Feb 2004
Posts: 2,669
Re: What is taxable income?

Quote: you know why I think it is such a dandy idea to self-incorporate, (LLC, Sole Proprietorship, S-Corp, whatever) in ER if you have any intention to do part-time work.
I agree that doing some part-time self-employed "work" is a great idea. You can do something you enjoy, be able to write off some expenses, and hopefully end up with just enough profit to max out your Roth IRAs each year.

I know a painter that loves to travel the world in search of that perfect landscape to paint and is able to earn enough to pay for his trips that are tax deductible, write off all the paint supplies, and sell his paintings to earn enough to make a profit to fund his retirement account.
He laughs when people think he's "working."

No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: What is taxable income?
Old 01-29-2005, 03:02 PM   #22
Posts: n/a
Re: What is taxable income?

It's dangerous for a type A workaholic to go back to work in any way IMHO. I still get the urge but have resisted so far. I just can't do anything halfway it seems. It's always "Damn the torpedoes, full speed
ahead!" Better I should just keep loafing I think.

  Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Four Pillars Book Question - Taxable Accounts Ponks Young Dreamers 9 02-21-2007 08:32 AM
At what age will you take Social Security? retire@40 FIRE and Money 39 10-05-2006 12:58 PM
Taxable Income in Retirement? blanston FIRE and Money 30 07-22-2006 01:50 PM
Wait to Age 70 to Collect SS? REWahoo FIRE and Money 77 11-27-2005 02:49 AM
Multiple Streams of Income hocus Young Dreamers 30 06-08-2004 08:23 PM


All times are GMT -6. The time now is 04:30 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.