Nothing to say

Yes, I clicked “New Post” but I really have nothing to say. So your next 3 minutes of reading will be a complete waste of time. Hey, at least I warned you.

Well, I got my bright orange box from Vonage yesterday. Now I officially have 4 phone numbers. Yep. One for ProNetLabs, one for my Fax line, one for DTF Capital (my mortgate broker LLC) and my Cell Phone number.

Anyways, that reminds me that it might be cool to describe how I want to set up my companies. Okay, so I got this book on tape titled “Own Your Own Corporation” by Robert Kemotherapi. My goal was to figure out a few of things. 1) How to isolate all of my companies from each other so that if one gets sued the others can’t be touched and 2) how to have all of my profits and losses from each company flow through to my main parent company (a heirarchy of sorts) so that if one of my companies gets sued there isn’t even any money in that company (it’s all in the parent company). 3) I also wanted to have some measure of anonymity so that people can’t figure out how much I’m worth or what companies I own. After listening to the book about 4 or 5 times and doing other research (including visiting a CPA) I will probably take the following approach.

 My parent corporation will be a C-Corporation. Yes, a big, hairy, expensive, double-taxed c-corp. My 2 “child” companies will be LLCs that have s-corp elections. Why not just S-Corps, you ask? Well because s-corps can’t be owned by a corporation. The beauty of an LLC with an s-corp election is that all the profits and losses can “flow thru” to the owner (my c-corp). This whole setup allows me to have the wide range of deductions that you can take advantage of with a c-corp while enjoying the simplicity of the LLCs for each biz. With my C-corp I can write off things like my health insurance. I can sell my car to my c-corp and then write off the insurance (since it definately is a company car). I can set up a special protected ERISA retirement fund that not even a lawsuit can touch. I can do a cafeteria plan for my family members over 15. There’s just a seemingly infinite number of cool things you can do with a c-corp. One cool thing is the low tax rate of 15% on your profits (which I hopefully won’t have much of after my deductions).

People harp on the double-taxation of the c-corp. But the thing is, only the income that you pay to yourself is double-taxed. If you leave it in the corporation then it’s only single taxed (and Nevada has no income tax for c-corps). Why would you want to pull any significant amount out anyways? It just exposes that money to personal lawsuits. I’m only going to pull out a small amount to pay myself every month. Just enough to cover my personal monthly bills. Many of my monthly bills are biz-related. Most things I buy are for biz purposes. So I don’t pull out the personal debit card for that, I pull out one of my company debit cards. Even most meals can be written off (even though you can only deduct 50% of the price of those meals).

Okay then on top of that I want to make my c-corp a “Nevada Corporation”. This just means that I’m incorporated in Nevada, not SC. Nevada is the only state that doesn’t share info with the IRS. And Nevada offers maximum privacy. This reduces the likleyhood that I’ll ever get audited and it keeps my name off the public record as the owner of my c-corp.  I plan to obey all laws, mind you. But who wants to be audited? It’s a pain in the neck! Please spare me.

Some decisions I still need to make are as follows: 1)Whether I want all of my corporations set up in Nevada or just the C-Corp. 2)I could possibly set up my C-Corp as an LLC with a C-Corp election. 3) If I go for all three corps as Nevada corps, can they all share the same address?

I’d really like to have this all set up by the beginning of the year. It may take longer for the paperwork to all get processed and finalized too. I’ll need to not only set up these 3 corporations but I’ll also need to do national trademark name searches to make sure my company names are unique and so that somebody can’t take my trademarks in the future. It’s just all a part of setting things up correctly the first time to avoid headaches later.

I feel like it’s like re-wiring a circuit board. It’s a pain in the butt to get all of my bills hooked up to the right biz and get my accounting system set up. But at the end of the day I’ll be able to relax knowing that I’m hardly paying any taxes and each of my businesses and wealth is totally protected from each other and from idiots that might want to sue me.

So here’s where I’ll run my different legs of my current biz plan. Pro Net Labs is run under the Pro Net Labs LLC. Any Real Estate-related or mortgage-related business will be run from the DTF Capital LLC. I will do my stock market trading/investing from my DTF Enterprises C-Corp.

Ah yea! Then I’ll finally have the motivation to write my company websites. I can’t wait because I’ll have a site-within-site concept. Each biz will read “Pro Net Labs a DTF Enterprises company“. The website will be organized much like this website. Where all of my companies are across the top of the page. This site will be a good way to communicate how my plan all fits together. Plus it will give each biz a much larger and more professional feel.

Well there. I guess I found something to talk about anyways. Try to relax a little today, k!

In The Bag!

Yep folks. It looks almost certain that my Xterra will be paid off by the end of the year. Thanks to a what’s-it load of work that just got funding approved by a client of mine. The cool thing is that I’ll work about 4 weeks for myself and make the money that would have taken me almost 3 months to make working at Rubbermaid! Gotta love it!

So that’ll be cool because it should cut my monthly expenses by about 25%. Twill definately be a nice treat to not write that check every month! So now I’ll probably get in a wreck with a drunk guy on New Years eve and total the X! Yeeeeeea. Mmm, gotta love it. All I need now is a Dave Ramsey bobble-head to burn incense to. Or maybe I’ll go outside at 4am and do a blood-curdling Debt-Free Scream®. Lol!!!! Yea baby! But that’s really nothing. If I want to really show the world I’ll get a dog and name it Ramsey. Then I’ll name my first-born son David. Then I’ll shave my head and attend Financial PU with my groupie friends.

 Okay, Okay, Okay. I’m done now. He he he!

Finally got it!

I have finally unlocked the secret of an exquisite gormet French recipe I’ve been working on. Yes folks, I pulled my All Clad fry pan off of my pot rack tonight, fired up my $2800 gas range and started working. First I scrambled the eggs and cooked them up to a perfect yellow hue. Then I held the trusty stainless steel Rosle can opener in my right hand and carefully gripped a special can of the most delicate perfection in my left. After carefully removing the can’s top the hearty smell of corned beef hash wafted in the winter’s air. This time though I did a few things different. I turned the heat up to 7 (instead of 5). Then I stood there and gave the corned beef hash something everything delecate requires – TLC. Yep, I just kept stirring it and tossing it around in the pan. And after about 10 minutes it was evenly browned and crunchy. Yep, I mixed in the scrambled eggs grabbed the pan off of the range and reached for my faithful thick blue oven mitt. I took the whole fry pan and a large soup spoon over to my Italian leather feather stuffed sofa and partook of a hearty feast fit only for a bachelor at 2am. Lol!

Yep yep yep. I was talking to my friend M about a biz he wants to start. I’ll tell ya, it’s pretty cool to feel somebody else’s entrepreneuristic energy. I never quit with that stuff. I often wonder if people get sick of hearing about “my plans”. But I don’t run into many people who are trying to kick the day job for the freedom of being on your own. It’s pretty cool though. I can’t wait to hear about his small successes that start to pile up into a big ol’ pile of success. Success in the face of risk and doubters is so sweet when acheaved. Success makes you feel like you feel when you are looking at yourself in the mirror wearing a brand new perfectly-fitting sport coat. You’re just like, “Dang, I never knew I could look so good!” Haha! Yea, it also feels a lot like what you feel like when you’re speeding past all the surfers at Mailbu on Hwy 1 with the top down in your convertable. Success even smells good. Ever ridden in a brand new sports car with a leather interior? That bucket seat just grips you tight and you can feel the stitched leather stearing wheel. You’re in control. Where do you want to go? How fast do you want to get there? Want the windows down or up? Want the stereo up loud or nice and soft? No, don’t check with the boss. He doesn’t care any more. He’s sitting in his soiled office chair rubbing his bald head wondering where all those years went. He’s 55 now and all he can think about is how he can “save” $25 on a new refrigerator because his just went on the blink. Oh yea, and his daughter left a viocemail about getting together for Christmas. But he’ll probably have to work because he used up his vacation on doctor’s visits. Uh where were we? Oh yea. We were in our sports car driving down the highway with nowhere to go. Might as well pull into a quiet little Mexican restaraunt and stare out the window while eating chips and salsa. Why not? What else do we need to be doing? Oh yea, we might want to get home before 8p so we can get ready to head over to the spa for a dip in the hot tub. But that’s 5 hours away. Most people don’t eat lunch at 3pm. So since you’ve got the whole place to yourself you don’t feel rude about reaching for your phone to call a buddy and chat for a while.

As I hoist my Dr. P. I raise a private little toast to all those with the courage to stand up and say, “I choose a differnt path. Ya’ll all have a good one, k?” Yep. It’s a fun adventure. It’s not for everybody though. And it’s not necessarily easy. But it’s sure worth it to me. Hey, I may even fail at a thing or two that I’m going for. But at least I won’t fire myself for it. Speaking of getting fired. It’s 5:30am. I better get to sleep. Hey’ I didn’t go to bed till about 7am yesterday. So I’m improving! But who’s keeping track? And, no, I don’t have a $2800 gas range. Lol! Ah, what a mess I am. Yep, a mess. Who understands a punk like me? Maybe a hot chick somewhere. That’d be nice. Okay, time to slip off into dreamland. ZZZZZZZZZzzzzzzzzzzzzzzzzzzzzzzzzzzz . . .

I never went to sleep

So that’s why I’m awake at 8am. Yep I was lying in my bed realizing that I was still wide awake when I started to think that it might be fun to go to McDonalds or something. But I didn’t feel like a burger. So I started to think of other things that I might feel like eating. That French toast from Burger King is always good. But I didn’t want something sweet and fattening. So I decided to go with a bacon egg and cheese bizkit. I hopped out of bed put on some clothes (including my Billabong hooded sweatshirt cause it’s cold and raining) and padded out to my car. Btw, there are 2 trains going buy outside right now. Anyways, I was just sitting in my car thinking to my self how I used to be on the road to Michelin every day at this time. Holy cow. It struck me how weird the whole world is. As I drove down the street I saw all the parents driving their kids to school. I can’t believe I spent 12 years of my life going to school so early. I just found myself wondering who in the world ever came up with the concept of not only waking up that early but having to actually be at work ready to serve the world at that ungodly time of night. People should be sleeping at 8am!!!!

No wonder there’s so much poverty, death and natural disasters on this orb we call earth. Anyways, I pulled off the road so I could take my Taco Bell shortcut to Mickey D’s. Next thing you know I had my breakfast and was back on the road to face all of those minivans and soccer moms. Fortunately I made it back to my cozy house safe and sound. I ate my Mickey D’s and now I’m full and ready to watch the stock market open at 9:30a. Maybe I’ll go to lunch with the fam if they’re swinging through. That would be nice.

Well it’s time to drop the Five Browns off at the pool. So, talk acha later. -The Townsfolk

Planing and Stuff

It’ll be real interesting to see what I’m up to in the middle of November. Right now I’m studying for 2 real estate certifications. Hopefully I’ll be dabbling in some real real estate by then. Right now I’m waiting for this guy at a mortgage brokerage to call me back and set up a test for me. He says he’s sooooo busy. Well then give me that test so I can pass it, get certified and help out!!!!!!!!!!!!!! Anyways.

It’s nice to be self-employed. When you don’t need money you don’t have to work! It’s quite nice. I think I’ve been working about 1 week a month since I quit my last corporate job. I feel so lazy. It’s funny how corporate America causes people to work their butts off while never getting ahead.

 When I started college I knew that if I could get my degree I’d be able to get a decent job. I don’t have that sense of surety with my Real Estate/Stock Market plan. Probably because I don’t want to have ‘decent’ results. I want to combine the wealth building power of a highly successful Real Estate investor with the wealth building power of a highly successful stock trader. I’m not going for pretty good here. I’m going for ‘highly successful’. If I pull this off (which will be evident in 3 years) it will mean major money. I see no reason why I can’t be a millionaire from stock trading by age 34. It can’t be as 35. 35 is way to old. When you are 35 you have a wife 3 kids and have no free time for anything because of family. 34, however is a much younger number.

 I just wish I’d gotten into this stuff a few years ago. Then I could be set by 30. Now however, I will only be proving that I have what it takes to be wealthy at 30, but not actually there yet. Oh well. What a difficult life if I’m only a millionaire at 34 and not a multi-multi-millionaire by then.

So what then? Then I’ll get on a plane to England. Take a ride way out to the countryside. Find a farmer to work for. This farmer will have pretty daughters with cute English accents. Then I’ll marry one and take her back to the states to live with me happily ever after.

 The End.

nKay

http://flickr.com/photos/lostwithdaryl/

Okay well just check out the pics. I had a pretty good Friday. There were definately some cool parts. But I’d rather talk about the pics I posted. Okay, the little furry cree-ature was just what I needed that night when I was feeling a little alone in the world. And then I’m glad I took a picture of Dad’s loving chalk talk about my big huge 32″ television  I bought (like 4 years ago). Yea that seems like a whole lifetime ago. Arg. Oh well.

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nKay

http://flickr.com/photos/lostwithdaryl/

Okay well just check out the pics. I had a pretty good Friday. There were definately some cool parts. But I’d rather talk about the pics I posted. Okay, the little furry cree-ature was just what I needed that night when I was feeling a little alone in the world. And then I’m glad I took a picture of Dad’s loving chalk talk about my big huge 32″ television  I bought (like 4 years ago). Yea that seems like a whole lifetime ago. Arg. Oh well.

nKay

Fun With Virus Boy (TM)

Howdy Everybody! It’s 4:30am and guess what I’m doing. Yep, nibbling on nachos dipped in Monterey Jack Queso cheese dip. Yea, I know Queso is the same as Cheese. Thank you. You should get a job with Mexico or something.

Anyways, since nobody really reads my blog much I’ve recently found out that the biggest fan of “Lost With Me” is Virus Boy. Yep. And as a tribute to my good bro, Virus Boy, I decided to post some pics to my Flickr page that should make VB laugh.

Here’s the link: http://flickr.com/photos/lostwithdaryl/sets/72157594322776808/

We had quite the fun time burning down my house that evening. It was just a good old bachelor’s party (of sorts). We had a fine kettle of fairs making these match towers that we lit and then watched the destruction before our very optic orbs. Yep. Lots of smoke, lots of destruction. Yes, I definately took the battery out of the smoke detector before we commenced our show. We probably torched a tree’s worth of matches that night. But that tree should be proud that it was put to such quality use.

You could watch TV. You could go to a movie theatre (yea some people do that). You could play in a golf tyoonament. Or you could burn down a dump truck full of matches. Now, which would you rather do? If you say golf tyoonament I’ll have to shoot you. And it wouldn’t be wrong either. Why? Kuz I said so. Yea.

We also cooked up some of our favorite Corned Beef Hash and Eggs. It just doesn’t get any better, folks! )