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To: OldAIMGuy who wrote (17662)	12/31/2001 5:24:05 PM
From: BWAC	Read Replies (1) of 18932

The consultant idea won't work flawlessly. LLC, S-Corp income items flow through to the owner and retain their chracter. Long term gains flow as long term gains. Interest flows as Interest. Investment management fees (to you the consultant) flow through as Investment management fees. Which on your personal return are not deductible unless you itemize, and then only the amount that exceeds 2% of your AGI. You'd have to be just an Employee/Manager/Allknowing Chieftan and pay the associated payroll taxes. Getting the LLC set up is the expense. Administering the one person payroll is easy once you get the hang of shuffling the forms and remitance dates.

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