Apr/may 2023 update

[@experiencingselves]

"I know it intellectually but I don't feel it in my heart" - Damn, that perfectly describes so many issues that arise for me.

[@coscorrodrift]

your "do 100 things" thing is what i use to "give myself homework" atm lol. when i saw the tweet about paying yourself to do stuff/being self employed i thought of replying with this idea of company structures and "eluding" taxes (not evading!) by using different international corporate structures, but in this case, instead of just serving a tax advantageous purpose, it serves a "structural"/"intentionality-setting" purpose. Like, say you're a writer, but you also do marketing consulting, etc. If you're freelancing in SG then you also set up an LLC in the states in some advantageous state like Delaware, with the name "visa consulting LLC" (or "introspect consulting". whatever). AFAIK you don't have to carry accounting if the corp doesn't make a profit so you could run operations in the delaware LLC with pre-tax money giving these higher margins, then whenever you want to extract income from consulting from delaware back to singapore, you could hire your freelancer self for a "copywriting job", make the LLC rest at 0 profit and carry the money to SG (where you would have to pay SG taxes, but if due to the LLC not needing to have accounting there is a lot more flexibility regarding what counts as business expense etc lol so net, it should be benefitial) but what i thought of with your thread is that instead of using this more traditional frame of "faking" some kinda copywriting job that IRL would be barely nonexistent/lack effort bc it's just an excuse to move money around, use the structures that these corporations put as "homework". So in this example, once a year whenever US tax season is in the states that you need to extract profit from the LLC, you would do the very best job you can to put the most brilliant copywriting you can, then it wouldn't be "moving money around" just for tax sake, but an intrinsic motivator to feel like you actually provided your "consulting side" with a great copywriting document. (or if you feel like you missed on client outreach, bill yourself for client outreach. etc.) I didn't reply with this bc it was too long for twitter and because it's messy, very much "the guy from it's always sunny in front of a whiteboard with red markings all over the crazy plan" vibe lol, and bc something being "tax advantageous" is very context dependent, and you're from SG where structures like this are probably not needed bc local freelancer/LLC taxes are already advantageous so the example would get lost compared to for someone from europe, and can be misinterpreted as me being pro tax evasion or whatever which im not lol, i just find these loopholes interesting and i find the fact that it is possible to do that kinda stuff for small individuals/corps when it's so common and headline worthy for the big ones to do it pretty funny lol.