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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: OldAIMGuy who wrote (17662)	12/31/2001 1:38:19 PM
From: labestul	Read Replies (1) \| Respond to of 18932

Hi Tom, You'll be the owner and whole board of directors of the company. It therefore seems to me that you would set the dress code. One word of caution however. Do not officially authorize clothing that is too skimpy. As a loyal employee you might have to sue management for sexual harassment;-) Barry

To: OldAIMGuy who wrote (17662)	12/31/2001 2:30:40 PM
From: Gary	Read Replies (2) \| Respond to of 18932

Hi Tom, It means that you will have to pay payroll taxes (fica & unemployment). With both sides of fica costing 15.3% of gross wages and state and federal unemployment running around 3% (that's what new corps pay in Florida) it's probably not worth it. You will also have to file business tax returns for another cost. You can wear your 3 piece suit to the library when getting the IW info. That will add a great deal of class to our thread. Happy, healthy and prosperous New Year to all. Regards. Gary

To: OldAIMGuy who wrote (17662)	12/31/2001 4:44:24 PM
From: areokat	Read Replies (1) \| Respond to of 18932

>>Does this mean I'll have to wear a three piece suit?<< Since you'd be in the financial expert business it would have to be a 4-button on the coat sleeve, blue pin-stripe. TomKat

To: OldAIMGuy who wrote (17662)	12/31/2001 5:24:05 PM
From: BWAC	Read Replies (1) \| Respond to 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.

To: OldAIMGuy who wrote (17662)	12/31/2001 10:12:53 PM
From: THE FOX	Read Replies (1) \| Respond to of 18932

Hi Tom, I think I have a much easier way you can qualify for a Roth. Why don't you become a greeter at Walmart ? Benefits; 1. You would have earned income. 2. You would do a great job. 3. You could hand out Mr. Lichello's book. 4. Possibly if you aroused enough interest in Newport Bob Norman might pick up the tab at one of your favorite watering holes. I WISH EACH AND EVERYONE A HAPPY NEW YEAR AND KEEP AIMING ! A FOX IN THE SNOW COVERED MOUNTAINS OF VERMONT