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Finished 2017 tax projections: netted $1.326 mil (CSLG)

I just finished doing my law firm books for 2017 and I nette...
rebellious pervert mad cow disease
  12/15/17
180 bro! You deserve it!
hideous curious goal in life new version
  12/15/17
You're still young! You can make it at any age!
tripping slippery native party of the first part
  12/16/17
Coppin' the right kind of investment RE will possibly let yo...
copper electric theater
  12/15/17
Introducing the XO winery: Chateau 180.
Milky Headpube
  12/15/17
...
startled incel
  12/15/17
There was a thread a few months ago where we were talking ab...
Nofapping corner mood
  12/15/17
Hard Fork Cider (a subsidiary of Crypto Gainz LP)
Milky Headpube
  12/15/17
That just sounds like 4 loko in cider form. This was more li...
Nofapping corner mood
  12/15/17
Interesting idea re ice wine. I'd think it would be, mechani...
Milky Headpube
  12/15/17
I am guessing there is an issue b/c apples are denser and ha...
Nofapping corner mood
  12/15/17
Yeah. Apparently I've been having the TTT overly sweet kind....
Milky Headpube
  12/15/17
Cali Dunkin Donuts Guru
Nofapping corner mood
  12/15/17
Biz. development deduction? Asset that generates impairment ...
Milky Headpube
  12/15/17
The biggest issue is that I keep my overhead extremely low. ...
rebellious pervert mad cow disease
  12/15/17
That party you threw alone you had to hire the MC who charge...
Milky Headpube
  12/15/17
Lol. My party was about $3,000 with everything. My friend ow...
rebellious pervert mad cow disease
  12/15/17
I'm hoping for between 750 and 1 mil next year. Congrats. Ru...
arousing autistic ladyboy
  12/15/17
Good luck. What city are you in? If LA who is the mediator? ...
rebellious pervert mad cow disease
  12/15/17
not Cali but Federal Court.
arousing autistic ladyboy
  12/15/17
180
doobsian range
  12/15/17
set up a home office (so dont pay off your house) and deduct...
spectacular internal respiration public bath
  12/15/17
Too late, I paid off my mortgage in March. I already deduct ...
rebellious pervert mad cow disease
  12/15/17
Make your next property your home office Can also deduct ...
spectacular internal respiration public bath
  12/15/17
What does pre-litigation mean here, without having to file s...
mind-boggling irate forum
  12/15/17
Yes, without a lawsuit.
rebellious pervert mad cow disease
  12/15/17
Moving to TX fixes state income tax, and has lower COL as we...
startled incel
  12/15/17
But I would have no income. I guess I could just retire with...
rebellious pervert mad cow disease
  12/15/17
Pro tip: do not under any circumstances move to Austin
shimmering candlestick maker shrine
  12/15/17
Why not?
rebellious pervert mad cow disease
  12/15/17
Buncha shitlibs and weird ass people. Also higher COL than e...
startled incel
  12/15/17
...
Razzle cerise mental disorder
  12/16/17
nah wait awhile before moving. but do it eventually. Guns, l...
startled incel
  12/15/17
I would never move from LA. My house is paid off and I'll ha...
rebellious pervert mad cow disease
  12/15/17
eh, fair enough. Like LA in general?
startled incel
  12/15/17
I live in the San Fernando Valley. I hate the actual city. T...
rebellious pervert mad cow disease
  12/15/17
Jesus. Keep your voice down. Earl might hear you.
talking histrionic kitty
  12/15/17
...
plum jap
  12/16/17
And probably crushes the income. Isn't California plain...
mind-boggling irate forum
  12/15/17
Best state in the nation for PI.
rebellious pervert mad cow disease
  12/15/17
YNY get that hustle congrats
Buck-toothed Disturbing Trust Fund School Cafeteria
  12/15/17
how many solos do you know who have just flamed out of the p...
sienna space
  12/15/17
I know several who flamed out and ended up as an associate s...
rebellious pervert mad cow disease
  12/15/17
Why do you think they did shitty work? Lack of responsivene...
supple hospital deer antler
  12/15/17
Both.
rebellious pervert mad cow disease
  12/15/17
180, congrats.
startled incel
  12/15/17
holy shit congrats
Chestnut Church Striped Hyena
  12/15/17
180 man
Pale Contagious Travel Guidebook Office
  12/15/17
Can you ask your CPA about paying your 2018 estimated CA sta...
French Gaping
  12/15/17
I actually JUST did that right now. I paid 130K for 2018 lit...
rebellious pervert mad cow disease
  12/15/17
180!
French Gaping
  12/15/17
Love hearing about the practice bro. I am sure you have addr...
titillating azn
  12/15/17
Summered at a big firm 2L year. Hated it and got no offered ...
rebellious pervert mad cow disease
  12/15/17
What moment in your legal career are you most proud of? Some...
titillating azn
  12/15/17
I settled a case for a bit over 2 million for a widow whose ...
rebellious pervert mad cow disease
  12/15/17
Incredible. Must have felt almost as good as when I caught t...
titillating azn
  12/15/17
...
glassy home
  12/15/17
...
drunken lascivious immigrant weed whacker
  12/15/17
...
supple hospital deer antler
  12/15/17
...
passionate principal's office
  12/15/17
...
cobalt cuck
  12/15/17
...
demanding whorehouse ratface
  12/15/17
...
jade costumed mad-dog skullcap center
  12/15/17
...
brindle rambunctious mexican prole
  12/15/17
...
thriller angry cuckoldry nursing home
  12/16/17
...
Chestnut Church Striped Hyena
  12/16/17
...
ruddy harsh piazza puppy
  12/16/17
...
avocado address idea he suggested
  12/17/17
...
Cocky tanning salon
  04/09/18
...
Aromatic Domesticated Keepsake Machete Casino
  04/09/18
180
brindle rambunctious mexican prole
  12/15/17
Congrats on the success, mang.
drunken lascivious immigrant weed whacker
  12/15/17
Nice bro!
marvelous very tactful digit ratio site
  12/15/17
...
Razzle cerise mental disorder
  12/15/17
What sort of RE are you looking to buy? Are you looking to ...
French Gaping
  12/15/17
Multifamily and NNN commercial. Cap rates suck right now but...
rebellious pervert mad cow disease
  12/15/17
congratulations bro
glassy home
  12/15/17
180, congrats.
nighttime abnormal factory reset button parlor
  12/15/17
Damn, nice.
flushed genital piercing
  12/15/17
Send our new shitfirm cases
supple hospital deer antler
  12/15/17
DESCRIBE your billable rate.
mind-boggling irate forum
  12/15/17
I will. Do you already know who I am, or would this out me?
flushed genital piercing
  12/15/17
I have no clue who you are but I've met 10 xo poasters and w...
supple hospital deer antler
  12/15/17
180.
razzmatazz rose university
  12/15/17
180
alcoholic nibblets circlehead
  12/15/17
what does your CRYPTOCOIN PORTFOLIO look like
Amethyst tank heaven
  12/15/17
3 BTC and 25 ETH. Not a lot but my basis is like 15K. I ...
rebellious pervert mad cow disease
  12/15/17
180
demanding whorehouse ratface
  12/15/17
Excellent work man! I'm a solo that does some PI, and I real...
stirring brunch
  12/15/17
180 friend. have you thought about buying up some residen...
Abusive sanctuary cumskin
  12/15/17
so you "netted" 765K
Irradiated half-breed step-uncle's house
  12/15/17
"nutted" http://autoadmit.com/thread.php?thread...
mewling awkward persian hall
  12/15/17
Next year you have to make a lot more to net the same amount...
mewling awkward persian hall
  12/15/17
Pass through income may be taxed at 20% next year. I would p...
rebellious pervert mad cow disease
  12/15/17
last i heard the 20% break is not available for service prof...
avocado address idea he suggested
  12/15/17
Yep Edit: 315k now
motley hominid
  12/16/17
incredible and you deserve it for your hustle. congrats.
Sable mediation
  12/15/17
180
brindle rambunctious mexican prole
  12/15/17
you need a better CPA if he's not suggesting tax strategies....
avocado address idea he suggested
  12/15/17
Give me some ideas. I read a lot about taxes and it seems li...
rebellious pervert mad cow disease
  12/16/17
Anyone?
rebellious pervert mad cow disease
  12/16/17
Captive insurance. Deduct premium you pay to your own insur...
Dun Stage
  12/16/17
How much can I dump into that in a year?
rebellious pervert mad cow disease
  12/16/17
1.2 million or something like that. Need to hire a reputabl...
Dun Stage
  12/16/17
Interesting, I'll look into that. Thanks.
rebellious pervert mad cow disease
  12/16/17
There's a financial guy I know in LA that probably does it o...
Dun Stage
  12/16/17
calishitlawguru@gmail.com. Really appreciate this brother...
rebellious pervert mad cow disease
  12/16/17
...
rebellious pervert mad cow disease
  12/16/17
Let me check with him first and get back to you. Probably to...
Dun Stage
  12/16/17
Notice to any poasters who may find this subthread while con...
flickering senate
  04/01/18
Pouring money into real estate sounds exhausting
motley hominid
  12/16/17
There aren't that many places to pour money into for passive...
rebellious pervert mad cow disease
  12/16/17
No doubt. Just seems like a fuckton of work for the near fut...
motley hominid
  12/16/17
How did you build your PI practice without marketing brother...
Trip emerald box office old irish cottage
  12/16/17
1. Be friendly to everyone you meet, let them know what you ...
rebellious pervert mad cow disease
  12/16/17
This is all credited advice whether you are shitlaw or bigla...
motley hominid
  12/16/17
Do your solo friends give you referral fees? I know some big...
rebellious pervert mad cow disease
  12/17/17
They would but Firm does not allow referral fees unless we a...
motley hominid
  12/17/17


Poast new message in this thread



Reply Favorite

Date: December 15th, 2017 11:20 AM
Author: rebellious pervert mad cow disease

I just finished doing my law firm books for 2017 and I netted $1,326,000. Any settlements the last couple weeks of the year will be pushed to 2018, so this is pretty much it for this year. Here is summary of my taxes:

According to my CPA here is my breakdown:

765K after taxes

136K to state income tax

425K to federal income tax

Firm Statistics

Total files: 283

Files in litigation: 41

Settlement: 85.5% of cases settle prelit

New files per month: 25-30

I paid off my house earlier this year. Our plan right now is to max out my SEP (54K) and my wife's 401K (18K) (which we have already been doing for years), and everything left above 100K (for a buffer) will be used to buy real estate. Wife works in-house as a lawyer and makes 120K + plus a 5-10K bonus.

It's kind of crazy how much I pay in taxes, but I feel like I do all the deductions I can without exposing myself to significant liability if audited. Although open to ideas (I already write off property tax, retirement, child care, health savings account, one business vehicle, cable, auto insurance, cell phone, new computers, office improvements, a reasonable amount of travel/meals/entertainment for business, etc).

Taking questions.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926680)



Reply Favorite

Date: December 15th, 2017 1:08 PM
Author: hideous curious goal in life new version

180 bro!

You deserve it!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927519)



Reply Favorite

Date: December 16th, 2017 11:40 AM
Author: tripping slippery native party of the first part

You're still young! You can make it at any age!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934570)



Reply Favorite

Date: December 15th, 2017 11:23 AM
Author: copper electric theater

Coppin' the right kind of investment RE will possibly let you use depreciation and other stuff to your advantage and shield more $ from taxes

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926704)



Reply Favorite

Date: December 15th, 2017 11:24 AM
Author: Milky Headpube

Introducing the XO winery: Chateau 180.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926715)



Reply Favorite

Date: December 15th, 2017 11:33 AM
Author: startled incel



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926807)



Reply Favorite

Date: December 15th, 2017 11:40 AM
Author: Nofapping corner mood

There was a thread a few months ago where we were talking about doing an artisinal cider business.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926851)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: Milky Headpube

Hard Fork Cider (a subsidiary of Crypto Gainz LP)

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926867)



Reply Favorite

Date: December 15th, 2017 11:44 AM
Author: Nofapping corner mood

That just sounds like 4 loko in cider form. This was more like taking the brix of the apples so that they are harvested at the right time, having different varietals, aging in French Oak.

I wonder if it is possible to make an ice wine like thing with apples.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926881)



Reply Favorite

Date: December 15th, 2017 11:45 AM
Author: Milky Headpube

Interesting idea re ice wine. I'd think it would be, mechanism should be the same. Wonder how it would compare to Lambic beer.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926899)



Reply Favorite

Date: December 15th, 2017 11:47 AM
Author: Nofapping corner mood

I am guessing there is an issue b/c apples are denser and have lower surface area/volume than grapes. But you could just take the mash and freeze it in a factory.

Lambic beer is just stuff brewed with wild lactobacteria, right?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926909)



Reply Favorite

Date: December 15th, 2017 11:49 AM
Author: Milky Headpube

Yeah. Apparently I've been having the TTT overly sweet kind.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926923)



Reply Favorite

Date: December 15th, 2017 12:05 PM
Author: Nofapping corner mood

Cali Dunkin Donuts Guru

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927036)



Reply Favorite

Date: December 15th, 2017 11:23 AM
Author: Milky Headpube

Biz. development deduction? Asset that generates impairment losses? Take whatever you think reasonable meals etc. are and triple those deductions?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926707)



Reply Favorite

Date: December 15th, 2017 11:27 AM
Author: rebellious pervert mad cow disease

The biggest issue is that I keep my overhead extremely low. I usually do like one nice meal a month with friends and my wife which is business development ($500+). I don't really spend money on biz dev lol.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926751)



Reply Favorite

Date: December 15th, 2017 11:29 AM
Author: Milky Headpube

That party you threw alone you had to hire the MC who charges a high hourly rate I hear, get the venue catering etc.

BTW congrats on the fantastic year, here's to another '18.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926777)



Reply Favorite

Date: December 15th, 2017 11:32 AM
Author: rebellious pervert mad cow disease

Lol. My party was about $3,000 with everything. My friend owns the laser tag facility (I've been playing there since 95) and basically let me rent out the place at cost ($850). The majority of the money was spent tipping the girls who work there ($140/each), buying food ($1,300), and doing my raffle ($600).

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926797)



Reply Favorite

Date: December 15th, 2017 11:24 AM
Author: arousing autistic ladyboy

I'm hoping for between 750 and 1 mil next year. Congrats. Running between 150-175 cases. Significantly lower pre-lit settlement %. Mediating my biggest case ever this pm, which will count towards next year.

Qs: What helped make the jump from ~100-150 cases to where you are now? I've kind of plateau'd where I am.

Do you have an associate? How much support staff? What do you pay them?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926726)



Reply Favorite

Date: December 15th, 2017 11:28 AM
Author: rebellious pervert mad cow disease

Good luck. What city are you in? If LA who is the mediator? I have several 7 figure cases in my pipeline that should settle next year.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926770)



Reply Favorite

Date: December 15th, 2017 12:03 PM
Author: arousing autistic ladyboy

not Cali but Federal Court.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927017)



Reply Favorite

Date: December 15th, 2017 11:25 AM
Author: doobsian range

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926735)



Reply Favorite

Date: December 15th, 2017 11:25 AM
Author: spectacular internal respiration public bath

set up a home office (so dont pay off your house) and deduct that plus util, internet, commuting, etc.

will not be a huge number but every little bit helps

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926737)



Reply Favorite

Date: December 15th, 2017 11:28 AM
Author: rebellious pervert mad cow disease

Too late, I paid off my mortgage in March. I already deduct my internet, cell phone, car, etc.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926758)



Reply Favorite

Date: December 15th, 2017 12:05 PM
Author: spectacular internal respiration public bath

Make your next property your home office

Can also deduct electricity, garbage etc

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927037)



Reply Favorite

Date: December 15th, 2017 11:31 AM
Author: mind-boggling irate forum

What does pre-litigation mean here, without having to file suit at all?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926786)



Reply Favorite

Date: December 15th, 2017 11:32 AM
Author: rebellious pervert mad cow disease

Yes, without a lawsuit.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926800)



Reply Favorite

Date: December 15th, 2017 11:32 AM
Author: startled incel

Moving to TX fixes state income tax, and has lower COL as well...

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926802)



Reply Favorite

Date: December 15th, 2017 11:34 AM
Author: rebellious pervert mad cow disease

But I would have no income. I guess I could just retire with 3 million to Austin, but I would rather live in LA. All my family and friends live here.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926812)



Reply Favorite

Date: December 15th, 2017 11:39 AM
Author: shimmering candlestick maker shrine

Pro tip: do not under any circumstances move to Austin

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926839)



Reply Favorite

Date: December 15th, 2017 11:40 AM
Author: rebellious pervert mad cow disease

Why not?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926850)



Reply Favorite

Date: December 15th, 2017 11:41 AM
Author: startled incel

Buncha shitlibs and weird ass people. Also higher COL than elsewhere, and has shitty city gov.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926863)



Reply Favorite

Date: December 16th, 2017 9:22 AM
Author: Razzle cerise mental disorder



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933965)



Reply Favorite

Date: December 15th, 2017 11:41 AM
Author: startled incel

nah wait awhile before moving. but do it eventually. Guns, land, low COL.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926854)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: rebellious pervert mad cow disease

I would never move from LA. My house is paid off and I'll have 10 million in investable assets by the time I'm 40. I can just stay here and stop working in 6 years.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926871)



Reply Favorite

Date: December 15th, 2017 11:44 AM
Author: startled incel

eh, fair enough. Like LA in general?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926878)



Reply Favorite

Date: December 15th, 2017 11:51 AM
Author: rebellious pervert mad cow disease

I live in the San Fernando Valley. I hate the actual city. Too crowded and parking sucks.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926930)



Reply Favorite

Date: December 15th, 2017 4:10 PM
Author: talking histrionic kitty

Jesus. Keep your voice down. Earl might hear you.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928992)



Reply Favorite

Date: December 16th, 2017 10:56 AM
Author: plum jap



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934361)



Reply Favorite

Date: December 15th, 2017 11:34 AM
Author: mind-boggling irate forum

And probably crushes the income.

Isn't California plaintiff friendly?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926813)



Reply Favorite

Date: December 15th, 2017 11:35 AM
Author: rebellious pervert mad cow disease

Best state in the nation for PI.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926818)



Reply Favorite

Date: December 15th, 2017 11:34 AM
Author: Buck-toothed Disturbing Trust Fund School Cafeteria

YNY get that hustle

congrats

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926814)



Reply Favorite

Date: December 15th, 2017 11:40 AM
Author: sienna space

how many solos do you know who have just flamed out of the profession or aren't doing well?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926849)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: rebellious pervert mad cow disease

I know several who flamed out and ended up as an associate somewhere. Most don't do well because they do shitty work and rely on paid marketing for clients. So they have low settlements and high acquisition costs. I'm the opposite. I do great work and no paid marketing. So my margins are crazy.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926864)



Reply Favorite

Date: December 15th, 2017 12:13 PM
Author: supple hospital deer antler

Why do you think they did shitty work? Lack of responsiveness?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927092)



Reply Favorite

Date: December 15th, 2017 2:02 PM
Author: rebellious pervert mad cow disease

Both.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927915)



Reply Favorite

Date: December 15th, 2017 11:42 AM
Author: startled incel

180, congrats.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926868)



Reply Favorite

Date: December 15th, 2017 11:44 AM
Author: Chestnut Church Striped Hyena

holy shit congrats

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926888)



Reply Favorite

Date: December 15th, 2017 11:46 AM
Author: Pale Contagious Travel Guidebook Office

180 man

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926903)



Reply Favorite

Date: December 15th, 2017 11:55 AM
Author: French Gaping

Can you ask your CPA about paying your 2018 estimated CA state taxes in 2017 since SALT is going away?

See this thread:

http://autoadmit.com/thread.php?thread_id=3828093&mc=37&forum_id=2

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926949)



Reply Favorite

Date: December 15th, 2017 12:04 PM
Author: rebellious pervert mad cow disease

I actually JUST did that right now. I paid 130K for 2018 literally 30 seconds ago.



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927024)



Reply Favorite

Date: December 15th, 2017 12:14 PM
Author: French Gaping

180!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927095)



Reply Favorite

Date: December 15th, 2017 11:59 AM
Author: titillating azn

Love hearing about the practice bro. I am sure you have addressed this previously but do you have a biglaw background?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34926977)



Reply Favorite

Date: December 15th, 2017 12:05 PM
Author: rebellious pervert mad cow disease

Summered at a big firm 2L year. Hated it and got no offered because I left every day early and didn't go to most of the summer associate events.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927031)



Reply Favorite

Date: December 15th, 2017 12:09 PM
Author: titillating azn

What moment in your legal career are you most proud of? Some brilliant procedural move? Closing argument? Seeing your clients' lives change after a big win/settlement?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927062)



Reply Favorite

Date: December 15th, 2017 12:11 PM
Author: rebellious pervert mad cow disease

I settled a case for a bit over 2 million for a widow whose husband was killed in a head on collision. The other party only had 100K policy but we found a road defect from construction and got almost 2 mil from the construction company/city. I changed that woman's life. She was an old Hispanic lady who never worked and spoke no English. Without me she would have been destitute. It felt really good to help someone that much.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927084)



Reply Favorite

Date: December 15th, 2017 12:15 PM
Author: titillating azn

Incredible. Must have felt almost as good as when I caught that missing comma in the credit agreement for the joint bookrunners on this subordinated debt deal. Wouldn't trade that experience for the world.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927112)



Reply Favorite

Date: December 15th, 2017 1:07 PM
Author: glassy home



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927511)



Reply Favorite

Date: December 15th, 2017 1:12 PM
Author: drunken lascivious immigrant weed whacker



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927538)



Reply Favorite

Date: December 15th, 2017 1:13 PM
Author: supple hospital deer antler



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927551)



Reply Favorite

Date: December 15th, 2017 1:46 PM
Author: passionate principal's office



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927808)



Reply Favorite

Date: December 15th, 2017 1:49 PM
Author: cobalt cuck



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927818)



Reply Favorite

Date: December 15th, 2017 5:14 PM
Author: demanding whorehouse ratface



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929548)



Reply Favorite

Date: December 15th, 2017 5:14 PM
Author: jade costumed mad-dog skullcap center



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929558)



Reply Favorite

Date: December 15th, 2017 11:29 PM
Author: brindle rambunctious mexican prole



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932058)



Reply Favorite

Date: December 16th, 2017 9:04 AM
Author: thriller angry cuckoldry nursing home



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933907)



Reply Favorite

Date: December 16th, 2017 9:05 AM
Author: Chestnut Church Striped Hyena



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933910)



Reply Favorite

Date: December 16th, 2017 11:11 AM
Author: ruddy harsh piazza puppy



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934434)



Reply Favorite

Date: December 17th, 2017 2:04 PM
Author: avocado address idea he suggested



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34942267)



Reply Favorite

Date: April 9th, 2018 12:58 AM
Author: Cocky tanning salon



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#35796599)



Reply Favorite

Date: April 9th, 2018 12:58 AM
Author: Aromatic Domesticated Keepsake Machete Casino



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#35796603)



Reply Favorite

Date: December 15th, 2017 11:29 PM
Author: brindle rambunctious mexican prole

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932055)



Reply Favorite

Date: December 15th, 2017 12:01 PM
Author: drunken lascivious immigrant weed whacker

Congrats on the success, mang.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927003)



Reply Favorite

Date: December 15th, 2017 12:02 PM
Author: marvelous very tactful digit ratio site

Nice bro!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927006)



Reply Favorite

Date: December 15th, 2017 12:11 PM
Author: Razzle cerise mental disorder



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927082)



Reply Favorite

Date: December 15th, 2017 12:20 PM
Author: French Gaping

What sort of RE are you looking to buy? Are you looking to rent it out or flip it? Id like to get into RE since we don’t want to only put money into the stock market, but it’s a tough market right now given how high it is.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927147)



Reply Favorite

Date: December 15th, 2017 1:37 PM
Author: rebellious pervert mad cow disease

Multifamily and NNN commercial. Cap rates suck right now but rents keep going up. As long as you buy young and hold for decades you can't really overpay. LA real estate will double again in 10 years anyways.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927745)



Reply Favorite

Date: December 15th, 2017 12:27 PM
Author: glassy home

congratulations bro

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927204)



Reply Favorite

Date: December 15th, 2017 1:11 PM
Author: nighttime abnormal factory reset button parlor

180, congrats.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927534)



Reply Favorite

Date: December 15th, 2017 1:23 PM
Author: flushed genital piercing

Damn, nice.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927621)



Reply Favorite

Date: December 15th, 2017 1:38 PM
Author: supple hospital deer antler

Send our new shitfirm cases

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927752)



Reply Favorite

Date: December 15th, 2017 2:22 PM
Author: mind-boggling irate forum

DESCRIBE your billable rate.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928088)



Reply Favorite

Date: December 15th, 2017 3:42 PM
Author: flushed genital piercing

I will. Do you already know who I am, or would this out me?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928728)



Reply Favorite

Date: December 15th, 2017 3:46 PM
Author: supple hospital deer antler

I have no clue who you are but I've met 10 xo poasters and would protect their identities with my life.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928769)



Reply Favorite

Date: December 15th, 2017 1:39 PM
Author: razzmatazz rose university

180.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34927756)



Reply Favorite

Date: December 15th, 2017 3:46 PM
Author: alcoholic nibblets circlehead

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928764)



Reply Favorite

Date: December 15th, 2017 3:47 PM
Author: Amethyst tank heaven

what does your CRYPTOCOIN PORTFOLIO look like

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928785)



Reply Favorite

Date: December 15th, 2017 3:48 PM
Author: rebellious pervert mad cow disease

3 BTC and 25 ETH.

Not a lot but my basis is like 15K. I didn't get in until a couple months ago.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34928791)



Reply Favorite

Date: December 15th, 2017 5:15 PM
Author: demanding whorehouse ratface

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929564)



Reply Favorite

Date: December 15th, 2017 5:19 PM
Author: stirring brunch

Excellent work man! I'm a solo that does some PI, and I really enjoy your threads. You still take questions on that throwaway?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929591)



Reply Favorite

Date: December 15th, 2017 5:33 PM
Author: Abusive sanctuary cumskin

180 friend.

have you thought about buying up some residential property and renting it out to take advantage of the mortgage tax deduction? 180 way to take advantage of savings because the rent and property tax + interest more or less balance out.

if you leave a room vacant, you can claim it as a second house or something

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929717)



Reply Favorite

Date: December 15th, 2017 5:34 PM
Author: Irradiated half-breed step-uncle's house

so you "netted" 765K

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929737)



Reply Favorite

Date: December 15th, 2017 5:45 PM
Author: mewling awkward persian hall

"nutted"

http://autoadmit.com/thread.php?thread_id=2521977&mc=129&forum_id=2

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929823)



Reply Favorite

Date: December 15th, 2017 5:43 PM
Author: mewling awkward persian hall

Next year you have to make a lot more to net the same amount with the new tax bill. Yay!

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34929810)



Reply Favorite

Date: December 15th, 2017 6:55 PM
Author: rebellious pervert mad cow disease

Pass through income may be taxed at 20% next year. I would pay way less in taxes. I work my ass off, it's really shitty that I pay so much as it is.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34930275)



Reply Favorite

Date: December 15th, 2017 11:21 PM
Author: avocado address idea he suggested

last i heard the 20% break is not available for service professionals who earn over 500K (hard cliff)

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34931985)



Reply Favorite

Date: December 16th, 2017 9:12 AM
Author: motley hominid

Yep

Edit: 315k now

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933932)



Reply Favorite

Date: December 15th, 2017 6:56 PM
Author: Sable mediation

incredible and you deserve it for your hustle. congrats.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34930279)



Reply Favorite

Date: December 15th, 2017 11:22 PM
Author: brindle rambunctious mexican prole

180

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34931998)



Reply Favorite

Date: December 15th, 2017 11:25 PM
Author: avocado address idea he suggested

you need a better CPA if he's not suggesting tax strategies. there is a lot of shit you can do.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932021)



Reply Favorite

Date: December 16th, 2017 12:48 AM
Author: rebellious pervert mad cow disease

Give me some ideas. I read a lot about taxes and it seems like my CPA is doing all the right things.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34932589)



Reply Favorite

Date: December 16th, 2017 10:51 AM
Author: rebellious pervert mad cow disease

Anyone?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934334)



Reply Favorite

Date: December 16th, 2017 11:07 AM
Author: Dun Stage

Captive insurance. Deduct premium you pay to your own insurance company as a current year expense. Premium in the insurance company for the first year it is in is restricted to what it can be invested in, but after 1 year, you can invest it in real estate or whatever you want. If you ever want to redeem cash from the insurance company, you take it as capital gains instead of ordinary income on your taxes, so you have converted ordinary income into long term capital gains.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934421)



Reply Favorite

Date: December 16th, 2017 11:10 AM
Author: rebellious pervert mad cow disease

How much can I dump into that in a year?

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934431)



Reply Favorite

Date: December 16th, 2017 11:16 AM
Author: Dun Stage

1.2 million or something like that. Need to hire a reputable accounting firm (there are a few), cost is about 5% of amount you put in due to setup/fees/audit protection.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934450)



Reply Favorite

Date: December 16th, 2017 11:18 AM
Author: rebellious pervert mad cow disease

Interesting, I'll look into that. Thanks.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934459)



Reply Favorite

Date: December 16th, 2017 11:33 AM
Author: Dun Stage

There's a financial guy I know in LA that probably does it or has a contact that sets them up all the time. What is your email, I can send you his info.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934533)



Reply Favorite

Date: December 16th, 2017 11:37 AM
Author: rebellious pervert mad cow disease

calishitlawguru@gmail.com.

Really appreciate this brother.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934560)



Reply Favorite

Date: December 16th, 2017 11:39 AM
Author: rebellious pervert mad cow disease



(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934569)



Reply Favorite

Date: December 16th, 2017 11:42 AM
Author: Dun Stage

Let me check with him first and get back to you. Probably too late in the year to actually execute this year, but can set you up for next year especially given your momentum and projections into next year.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934580)



Reply Favorite

Date: April 1st, 2018 8:15 PM
Author: flickering senate

Notice to any poasters who may find this subthread while considering captive insurance:

http://www.autoadmit.com/thread.php?thread_id=3933697&forum_id=2#35739012

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#35739068)



Reply Favorite

Date: December 16th, 2017 9:15 AM
Author: motley hominid

Pouring money into real estate sounds exhausting

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933942)



Reply Favorite

Date: December 16th, 2017 10:51 AM
Author: rebellious pervert mad cow disease

There aren't that many places to pour money into for passive income.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934337)



Reply Favorite

Date: December 16th, 2017 11:02 AM
Author: motley hominid

No doubt. Just seems like a fuckton of work for the near future.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934390)



Reply Favorite

Date: December 16th, 2017 9:23 AM
Author: Trip emerald box office old irish cottage

How did you build your PI practice without marketing brother? That seems to be the one area where advertising is everything

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34933974)



Reply Favorite

Date: December 16th, 2017 10:55 AM
Author: rebellious pervert mad cow disease

1. Be friendly to everyone you meet, let them know what you do, let them know how to reach you (business cards), and tell them a quick interesting story about a cool case. This is hard if you don't have social skills but it can be learned with practice. Almost identical to PUA skills. It's all a numbers game. If you talk to 10,000 people and 1% hires you, that's 100 clients. I even handed out some business cards at the XO meeting in LA a week ago (not to everyone though since a lot of them already had my contact info).

2. Do great work for your clients. Be responsive, professional, and make sure they love you when the case is done.

3. Give your clients your cell phone number and make them feel like family. I become very close with all my clients and talk to them like a friend, not their lawyer. When they refer me people they talk about me as not only a lawyer but a good person. Makes people excited to hire me.

This is pretty much all you need to do. Most attorneys treat their clients like shit, are impossible to reach, and do shitty work. It's really not that hard to stand out.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934354)



Reply Favorite

Date: December 16th, 2017 11:22 AM
Author: motley hominid

This is all credited advice whether you are shitlaw or biglaw. I am nice to everyone and tell everyone what I do. I’m biglaw so 99% of what comes my way I can’t take but I refer it out to my solo buddies.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34934474)



Reply Favorite

Date: December 17th, 2017 9:39 AM
Author: rebellious pervert mad cow disease

Do your solo friends give you referral fees? I know some big firms discourage that.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34940779)



Reply Favorite

Date: December 17th, 2017 10:31 AM
Author: motley hominid

They would but Firm does not allow referral fees unless we actually work the case. Its cool though, I’ve had it come back to me. I currently have a complex commercial case that one of my bros referred me that’s in pre-lit stage.

(http://www.autoadmit.com/thread.php?thread_id=3830045&forum_id=2#34941029)