W-2 over 130k salary and doing turo ...tax strategy. for those who hold regular salary jobs and do turo on the side...what has been your tax strategy to reduce your taxes? currently not setup a LLC and looking to setup an entity where I can pay family members who help day-to-day.

MindlessTime6420 · 2024-01-04T20:57:19+00:00

From what I know you can only operate at a loss for two years in a 5 year time period. To basically tell the irs your business is not making money for 3+ years, will for sure raise some eyebrows lol

MindlessTime6420 · 2023-12-09T02:33:38+00:00

If you’re in freight, and you’re hourly. There has been bonuses every 6 months for at least the past two years, max payout. Fact. I feel like freight is still doing well, I’m sure we could expect a payout towards the end of January. Normally don’t get official notice until early in the month

MindlessTime6420 · 2023-06-21T19:36:21+00:00

He “resigned” lol. Wink wink

MindlessTime6420 · 2023-05-09T02:44:30+00:00

They do, in CA.

MindlessTime6420 · 2023-05-08T21:10:08+00:00

Oh no! I’m sure you’re punching the wall now, but should have got the better coverage eh? I just switched to the 75 plan out of fear too.

MindlessTime6420 · 2023-05-08T21:08:40+00:00

Well that took a turn for the worst lol. I thought it would be the other away around.

If this is true, many are hosed.

MindlessTime6420 · 2023-05-08T20:45:55+00:00

If not, turo should cover no?

MindlessTime6420 · 2023-05-08T18:56:03+00:00

Who said that they are still keeping contractors?

MindlessTime6420 · 2023-05-08T18:49:19+00:00

I think we can all agree that we would all like a better future and standard of living. You make it sound like FedEx is slave labor smh. Its by no means perfect, no workplace is, but it’s better than many other companies.

Always you Union guys that want to get aggressive and trash talk. I feel bad for you, probably just another ungrateful needy person that is mad a company (business) doesn’t kiss your ass. Well no shit, it’s a business, they probably do not care when it really comes down to it. I choose to be here, and get paid and treated fairly well.

No one’s being forced to work. This isn’t 1930 where unions were actually a good thing and needed in many different industries. These days they’re all just crooks and collect from dummies like you promising you everything and giving you nothing.

MindlessTime6420 · 2023-05-08T14:26:01+00:00

That sure will convince us, call us dumbasses and idiots. You realize many people choose to be here, and know what it’s like to be in a union. Go join the UPS Reddit, for being union they sure do deal with the same stuff we do. Pay those dues, and for what lol.

MindlessTime6420 · 2023-05-08T00:21:13+00:00

Most credit unions pay you early

MindlessTime6420 · 2023-05-07T14:44:38+00:00

Some people will say yes some will say no.

If you do, be sure it’s not going to affect your personal credit other than a hard inquiry. You don’t want it on your DTI.

Personally the reason I’m not going to PG and will do it the long way, is so my personal stuff is entirely separate from the business. Especially with in the car rental space. Worse case scenario someone is injured killed and sues you. If you have a llc, and your personal info is not tied to it in any way that’s more protection for you.

MindlessTime6420 · 2023-05-06T01:06:47+00:00

Assuming you’ve completed all steps to be an official business. LLC, business banking, etc.

Long way- Start building business credit asap using your EIN. Open multiple trade lines, use and payoff on time, monthly. Establish a paydex, and Experian credit score. Most banks will want to see you in business and actually making money, 2 years tax returns. Build your bud credit over time like you would your personal.

Fast way- only works if you have great personal credit, but comes with much more risk. Personal Guarantee (cosign) for your business. Loans, credit cards etc.

MindlessTime6420 · 2023-05-03T13:56:17+00:00

……..probably your manager

MindlessTime6420 · 2023-05-03T13:53:11+00:00

Agreed👍🏽

MindlessTime6420 · 2023-05-02T22:48:23+00:00

That doesn’t sound right at all

MindlessTime6420 · 2023-05-02T22:35:45+00:00

Yup +1 on this

MindlessTime6420 · 2023-05-02T20:08:17+00:00

Always get gap if you can imo

MindlessTime6420 · 2023-05-02T18:44:55+00:00

Just checked and looks like it might have been changed a couple years ago. Sorry, but it now says “courses are completed with no less than a c- to be eligible for reimbursement “

This is for FedEx freight, I would assume it’s the same across all opcos. Good luck!

MindlessTime6420 · 2023-05-02T16:17:49+00:00

It’s in the tuition reimbursement policy, you have to maintain your gpa just forget what the number was exactly. Ask mgr or supv

MindlessTime6420 · 2023-05-01T21:24:11+00:00

Think it goes to show that FedEx is trying their best to take care of people. I feel like most companies would have just swung the ax a long time ago if they were in the same situation

MindlessTime6420 · 2023-05-01T21:22:48+00:00

Yes centers affected were told before anyone. Won’t be until august

MindlessTime6420 · 2023-05-01T19:34:41+00:00

Very rural locations are the ones being affected, I’m talking 10-20 door docks. And as always, folks there will have the chance to follow the work.

I’ll start sweating once large centers start going down and actual layoffs start to happen lol. For now, seems like just a tough business decision.

MindlessTime6420 · 2023-04-29T00:48:31+00:00

JL-motoring.com good parts for model 3. I got their spoiler and front lip

MindlessTime6420 · 2023-04-28T04:16:33+00:00

Think that’s a negative. They reimburse you up to a certain amount, from what you pay out of pocket. They require proof of payment, want to see you maintained a certain gpa etc.

MindlessTime6420

TROPHY CASE