America 1979

Chapter 80 Career Planning
On October [-]th, Bill, who skipped school as usual, went to the old white man who helped with tax returns at the end of February, Conrad Steve, to consult on tax avoidance behaviors that should be done this year.

Two days ago, on October [-]th, that is, this Monday afternoon, Bill sold the long-term gold futures contract in his hand.

At that time, the purchase price was 490 US dollars an ounce, and a total of 240 lots were purchased, that is, [-] ounces, with a book value of [-] US dollars.

There are two main reasons for the fall of gold prices after February 1980. One is that the president came forward to suppress the price of gold, claiming that the price of gold is related to the status of the United States in the world, so the market is generally bearish; Silver, which has risen for a year, bottomed out in a short time, causing gold, which is also a precious metal, to fall.

But at the end of 1980 and the beginning of 13.00, the main reason for the rise of gold has not been resolved. The CCCP’s invasion of Afghanistan will last for many years. It rose slowly, re-breaking the $[-] mark in early October.

Bill, who has the memory of his previous life, naturally knows that Reagan was elected at the end of 1980. Before the comedian came to power, he threatened to reduce inflation and raise bank interest rates. will start to fall.

And the first Tuesday in November is the day of national voting. The voice of Reagan's election is not low, and even the speed of rising gold prices has slowed down.

Therefore, Bill sold the long-term futures contract he held on October 56 at a price of US$[-] per ounce. At this time, the book value of the contract is US$[-] million, minus the initial book value Value, Bill earned $[-].

Bill netted $420 after paying NYMEX $54 and Shearson Brokers $490.

With the original principal, Mr. Ferrari is now a millionaire.

As a millionaire, he naturally has to look like a rich man, so Bill came here non-stop to ask for advice on tax avoidance methods.

No matter what, he has to set up a tax-sheltered company or fund or something. He doesn't want to work for the IRS.

Connard's office was still as messy as ever, and Bill stepped on the randomly placed papers to the old man's desk and began to talk about his demands.

"Don't think about the foundation, your little money is not enough to cover the cost? When will you come to discuss this issue with me when you have a family property of over [-] million yuan." Conrad squinted his eyes for a while before replying .

I have hundreds of millions of property and I still need a small accounting firm like you to file taxes?Bill despised the old man for a moment.

"But I have a question, how do rich people avoid taxes through funds? Although I don't need it at the moment, I need to understand these."

Conrad straightened his body lying on the table and leaned on the back of the chair, "Well... there is a tax-deductible amount for donations, up to one-tenth of your personal tax can be deducted from the money you donate, but there is also a limit, so you have to Donate in installments. This is a means for the rich to avoid taxes when they are alive. After they die, the practicality of the fund will become apparent. The 50.00% inheritance tax is..."

The old man began to explain the secrets of the fund's operation to Bill, a tax novice.

According to him, the fund belongs to social wealth and only receives 5.00% of investment income every year, and rich people only need to donate [-]% of the total assets of the fund for charity to legally own the property of the entire fund, and it can be passed on .

"... As for your current situation, I suggest that you buy stocks so that you can apply for tax deferral, and you can reduce taxes when you have losses. How much personal income and capital gains do you need to file tax returns this year? "

Conrad asked.

Bill thought for a while, "About 110 million, the rest have been reported."

The old man left the back of the chair in an instant, sat up straight and confirmed: "110 million? So much? Is it all made by speculating in silver?"

Bill nodded and admitted that gold is also a precious metal. According to the strange regulations of the IRS, trading of precious metals is regarded as the sale of collectibles, and personal income tax needs to be paid after profits are made.

However, there is no difference between the current personal income tax and capital gains tax. The highest federal tax rate is 50.00%, and the initial capital gains tax rate is higher, reaching 20.00%.

"Then I have to raise the fee. This is my first time serving a millionaire." Konrad's wrinkled skin stretched out visible to the naked eye.

Bill stretched out his right index finger and shook it, "It depends on how much you can allow me to avoid taxes. If it's only a reduction of 450 to [-], or tens of thousands of dollars, it will still be the $[-] last time."

Conrad took a deep breath and signaled Bill to sit down at the desk, and then the two began to analyze Mr. Ferrari from head to toe, including his family structure, personal investment and consumption willingness, and future investment plans.

It wasn't until two hours later that Conrad gave his final advice.

One is to deposit part of the money in the bank, and now the savings can also reduce personal tax, the other is to file tax returns jointly with the girl who is in college. Take a loan to buy a car, for example.

"I think Mr. Bill can also choose to donate, and then designate the beneficiary as your sister or your uncle, so that you can get a [-]% tax deduction, but the threshold is a bit high, and I don't know much about it. "

Ever since he knew that Bill had 100 million tax returns, Conrad's tone became extremely polite.

"If I set up a company where my aunt feeds me, my uncle serves as a driver and security guard, and I pay my dietitian and my weekly personal trainer at the gym, I get How much tax haven space?"

In the previous two or three weeks, Bill had in-depth exchanges with his fan consultant Tiqi and nutritionist Thomas many times, and set his current career plan, which is to enter the D-1 university team to play for two to three years, and at the same time Get your undergraduate degree.Then enter the NFL to play professionally for four to six years, and then find a way to return to the college team to serve. During this period, continue to improve your education, at least a master's degree, and a doctorate is also under consideration.

There is a reason for this. Playing an NFL career is not just about gaining fame. Celebrities and stars in general are completely in two dimensions.

The reason is simple, ordinary celebrities do not have a large number of paying fans, but fans of NFL stars can really spend real money to support their idols, especially the rednecks in the southern states. Their enthusiasm for American football games is comparable to that of religious believers.

The United States is a capitalist society, and everything can be converted into capital, including fame.Some people may say that real bosses can't see sports stars like rugby stars. This kind of thinking is completely wrong. There are only one kind of real bosses in the United States, and they are the "stock gods" on Capitol Hill. They are even very I am happy to cooperate with sports stars, because the latter will not only donate campaign funds to the office of the stock god on Capitol Hill, but also bring exposure and supporters to the stock god.

All in all, Bill wants to make a name for himself in the NFL, and rely on his celebrity and alumni advantages to invest heavily in Silicon Valley startups.

So he began to take the matter of entering the NFL seriously. In addition to finding a nutritionist to adjust and hiring a personal trainer in the gym every week to enhance his flexibility, he also planned to let his uncle and aunt resign and help him throughout the process.

"Set up a company?" Connard's old face wrinkled back again. "What you want to ask is LLC, right? That kind of company is only allowed in Wyoming. I don't know much about it, but it can indeed avoid taxes."

In 1977, Wyoming promulgated the "Limited Limited Company Act" on the basis of drawing lessons from the European limited company law. LLC companies have become a better choice for the people of the state to establish small and micro enterprises.The advantage of this small company is that company members can pay income tax individually, or they can jointly pay income as corporate income tax.

Although Conrad was not familiar with LLC companies, he called on the spot to ask his peers, and finally gave a more accurate explanation: "You can inject part of the money into this company, and then hire the people you designate, and they can also..."

What he said was very difficult to understand, but he made it clear that the amount of tax avoidance was not small, and only accountants in Wyoming knew how to operate it.

"I see, you can't do this either." Bill told him to stop explaining, "I'll find someone to consult over there."

It is about tens of thousands or even 10,000+ taxes, Mr. Ferrari dare not be sloppy.

Conrad's three previous proposals can reduce or exempt individual taxes at a maximum of 30 to [-] yuan, and the remaining [-] to [-] taxes are not easy to deal with.

The old man couldn't handle the LLC. Bill left here after paying [-]% of the advance payment, and then he was going to let his sister Dorothy, who was in college, take a trip to Wyoming to see what to do.

……

December 80, the No.14 regular season game of the [-] season.

Nio Ferrari, who was sitting at the front of the auditorium, was holding a portable video recorder, trying to make the center of the picture follow his brother Bill who was charging in the arena.

With the assistance of relatively professional consultants, weekly personal trainers and nutritionists, Bill's style of play is more flexible. In addition to the previous iconic savage collision, Mr. Ferrari has successfully made his dodge a part of this season. Great point.

This allowed Bill's fame and dominance to continue to increase, but it was difficult for his younger brother Neo, who followed the film, because he had to predict his brother's position and let the video recorder without anti-shake function always capture his figure.

In the last minute of the fourth quarter, after Bill overthrew the enemy free guard, he ran all the way and finally caused a touchdown.The score was fixed at 1 to [-], and the Hamadun school team booked the invitation to the tournament with a record of [-] wins and [-] losses.

This also means that Bill can finally send his data and videotapes of this season to Stanford's red and white team and UCLA, so that he can get the college admission letter he wants.

PS: This chapter is really difficult to write, and it is a bit late to post. Please recommend a ticket and ask for a monthly ticket.

(End of this chapter)