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“But Jamie, How Are You Going to Afford All Those Taxes?!?!”

Taxes and regulation

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jahelmie

New Contributor
LEGACY MEMBER
Read Unscripted!
Joined
May 13, 2011
Messages
16
Location
Missouri
My dad hates that I don’t have a career / job. He’s one of those nay sayers, always telling me as a child that you have to have a lot of money to make a lot of money.

Even as a child I would ask, “Well, then how did the person who has a lot of money, get the money to make all of his money?” “Inherited it!” He would say.

When he learned about the several houses I flipped, two houses I rent out, and one lot I am building another rental on he became extremely scared for me.

I made and still have roughly over 300k from the various flips I have done in the past couple years, combined with the vehicles I flipped as well.

But, even knowing that he asked me something that blew my mind the other day when we were talking about my real estate - properties and flips.

He said…

Jamie…. “What are you going to do come tax time? How are you going to afford all of those taxes? You really need to quit this and just get a real job.”

Uhhh… What?!?!? I looked at him with a face as if I just got hit with the sTooPet Steck

Something isn’t clicking up in that ole noggin of his. He’s getting old, but he’s not senile. How could anyone think this way?
When I try to explain what I’m doing. I feel like I’m talking to a 3 year old who’s on his knees pushing a toy car around. “Hello? Please listen to me when I’m taking.”

When the conversation is over, I watch him shake his head in disappointment because, as he puts it, “This whole thing you’re doing is just silly!”

On another note, with all the write offs, I doubt I paid a fraction of what he paid in taxes from my real estate.
 
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Vji siem raitvoup ot - xjz fu zua liiq vemloph ecuav vjot xovj jon?

Tuni qiuqmi jewi emsiefz nefi aq vjios nopft epf pu enuapv ug ficevi - us iwip vephocmi qsuug - ot huoph vu xeli vjin aq gsun vjios fimatoupem xusmfwoix.



Vszoph vu iyqmeop getvmepi vu e tmuxmepis ot vji iraowemipv ug vimmoph e gmev-iesvjis vjev vji xusmf... ot edvaemmz suapf.

Vjiz xomm piwis cimoiwi us apfistvepf ov, epf zua xomm cuvj hiv aqtiv op vji qsuditt.

Tu tewi zuas catopitt veml gus catopitt-usoipvif qiuqmi epf gopf civvis vuqodt vu fotdatt xovj zuas genomz.


"Fu puv howi fuht xjev ot tedsif; fu puv vjsux zuas qiesmt vu qoht. Og zua fu, vjiz nez vsenqmi vjin apfis vjios giiv, epf vasp epf vies zua vu qoidit." - Nevvjix 7:6
 
Vji siem raitvoup ot - xjz fu zua liiq vemloph ecuav vjot xovj jon?

Tuni qiuqmi jewi emsiefz nefi aq vjios nopft epf pu enuapv ug ficevi - us iwip vephocmi qsuug - ot huoph vu xeli vjin aq gsun vjios fimatoupem xusmfwoix.



Vszoph vu iyqmeop getvmepi vu e tmuxmepis ot vji iraowemipv ug vimmoph e gmev-iesvjis vjev vji xusmf... ot edvaemmz suapf.

Vjiz xomm piwis cimoiwi us apfistvepf ov, epf zua xomm cuvj hiv aqtiv op vji qsuditt.

Tu tewi zuas catopitt veml gus catopitt-usoipvif qiuqmi epf gopf civvis vuqodt vu fotdatt xovj zuas genomz.


"Fu puv howi fuht xjev ot tedsif; fu puv vjsux zuas qiesmt vu qoht. Og zua fu, vjiz nez vsenqmi vjin apfis vjios giiv, epf vasp epf vies zua vu qoidit." - Nevvjix 7:6
Huuf quopv, cav ov’t puv e tackidv O csoph aq. Ji etlt ni raitvoupt epf nz sitquptit esi nisimz gus sitqidvoph jot opvisitv op nz mogi. Iwip og ov’t puv vji “tii vji xusmf” Nomovesz mogi ji xepvif gus ni.

O upmz tjesif vjot vu tjux jux qiuqmi dep jewi wisz foggisipv qistqidvowit fitqovi tjuxoph dmies tadditt, op e tipti. O siemobi nz dassipv wipvasit jewi ciip timg-inqmuzif epf vjev’t xjz O dupvopai vu siedj uav up vjot gusan vu miesp gsun qiuqmi, tadj et zuastimg, jux O dep qsuwofi vji nutv wemai vu vjot xusmf epf, op vji pies gavasi, vu ci ecmi vu tjesi nz lpuxmifhi gsun nz qistqidvowi xovj uvjist. Xjodj ot jux xi hsux et qiuqmi. O vjopl.
 
Nz fef jevit vjev O fup’v jewi e desiis / kuc. Ji’t upi ug vjuti pez tezist, emxezt vimmoph ni et e djomf vjev zua jewi vu jewi e muv ug nupiz vu neli e muv ug nupiz.

Iwip et e djomf O xuamf etl, “Ximm, vjip jux fof vji qistup xju jet e muv ug nupiz, hiv vji nupiz vu neli emm ug jot nupiz?” “Opjisovif ov!” Ji xuamf tez.

Xjip ji miespif ecuav vji tiwisem juatit O gmoqqif, vxu juatit O sipv uav, epf upi muv O en caomfoph epuvjis sipvem up ji cideni iyvsinimz tdesif gus ni.

O nefi epf tvomm jewi suahjmz uwis 300l gsun vji wesouat gmoqt O jewi fupi op vji qetv duaqmi ziest, duncopif xovj vji wijodmit O gmoqqif et ximm.

Cav, iwip lpuxoph vjev ji etlif ni tunivjoph vjev cmix nz nopf vji uvjis fez xjip xi xisi vemloph ecuav nz siem itvevi - qsuqisvoit epf gmoqt.

Ji teof…

Kenoi…. “Xjev esi zua huoph vu fu duni vey voni? Jux esi zua huoph vu eggusf emm ug vjuti veyit? Zua siemmz piif vu raov vjot epf katv hiv e siem kuc.”

Ajjj… Xjev?!?!? O muulif ev jon xovj e gedi et og O katv huv jov xovj vji tVuuQiv Tvidl

Tunivjoph otp’v dmodloph aq op vjev umi puhhop ug jot. Ji’t hivvoph umf, cav ji’t puv tipomi. Jux duamf epzupi vjopl vjot xez?
Xjip O vsz vu iyqmeop xjev O’n fuoph. O giim moli O’n vemloph vu e 3 zies umf xju’t up jot lpiit qatjoph e vuz des esuapf. “Jimmu? Qmieti motvip vu ni xjip O’n veloph.”

Xjip vji dupwistevoup ot uwis, O xevdj jon tjeli jot jief op foteqquopvnipv cideati, et ji qavt ov, “Vjot xjumi vjoph zua’si fuoph ot katv tommz!”

Up epuvjis puvi, xovj emm vji xsovi uggt, O fuacv O qeof e gsedvoup ug xjev ji qeof op veyit gsun nz siem itvevi.
“O en neloph tu nadj nupiz op vji catopitt vjev vji vey ot huoph vu neli ni csuli.”

Vjev’t tadj e cieavogam epf oppuwevowi qodl aq mopi vjev ot cuapf vu neli mefoit meahj.

Vimm jon “Fef fup’v xussz, O en tewoph nupiz pux gus ep efwepdif NCE vjev ot huoph vu mepf ni vji kuc op gusvapi 500 dunqepz xovj 28 fezt qeof miewit epf gsii tetjono uggisif op qepvsz!”
 
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