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Joined 1 year ago
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Cake day: June 13th, 2023

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  • Debt collectors. The businesses took the risk when they loaned money or provided some kind of service on credit.

    I don’t use debt collectors any more, but I have a construction company and a few times a year people just decide not to pay for their work. If someone really truly refuses to pay I could take them to small claims court, and I have, but it’s a ton of work and lawyers won’t bother with anything under 10k. I’ve literally had a judge say “so petty” about me taking someone through small claims for a $1200 they’d been dodging for years So some jerk can stiff me for $1500 and I have basically no recourse. I’m not talking about some impoverished person who I took advantage of, these are people with nice homes who make a habit of not paying bills. I’ll work with people who are short on cash and honest.

    Even though debt collectors are 0/3 in the times I’ve used them, it’s at least something to fire off a final ‘fuck you and your credit’








  • How do you define ‘corporate’ ownership? If you can own 100 properties as an individual, does that count as ‘corporate’?

    It’s how you report the income. A corporation pays corporate tax rate on profit. An individual pays income tax. If someone wants to pay the individual income tax on 100 properties, that’s awesome. 33% over 250k. Corporate tax rate can easily be half of that.

    Plus filing your taxes is waaaaaay easier having a corp hold all the assets and generating revenue, and the individual as an employee who draws a salary. If you’re just an individual with 100 properties and you get audited, you’re in for a bumpy ride trying to pick apart personal vs rental purchases