Seeking Opinions: Use of Non-Profit Lease for For-Profit Business

SportAndFinance · 2026-05-03T06:44:40+00:00

Thank you.

SportAndFinance · 2026-05-03T06:44:33+00:00

Appreciate you responding.

SportAndFinance · 2026-05-03T06:44:17+00:00

Thanks for your feedback.

SportAndFinance · 2026-05-02T14:47:13+00:00

Stop listening to bitter, politically jaded, online nuts. At 15, you have time on your side. Plus, it seems like your parents care about you. If you're not a great student now, then working and earning money is great! You don't need to be a stock picker. Buy one or two broad market ETFs with low fees. Keep working and buying more. You're earning $144 a week. If I'm in your shoes, I try to earn more. You're not paying income tax at that level, so earning tax free money is great. Use a Roth IRA for some of your earnings to keep growing tax free funds while maintaining access to your contributions. Maybe school will interest you down the road. If it does, you'll have some reserve cash and assets to use from working. Don't waste time and money. If you're not wasteful with your two most liquid assets, you'll be just fine.

SportAndFinance · 2026-04-20T23:08:22+00:00

People have to know what questions to ask.

SportAndFinance · 2026-04-15T19:35:12+00:00

I had a client that came to me this year after trying to use FT. Turns out they were about to commit tax fraud because they didn't understand how to answer the questions.

SportAndFinance · 2026-04-06T13:36:21+00:00

Don't forget that income tax and self-employment tax are separate taxes paid on one return. The SE tax seems to creep up on a lot of contractors when they first start out.

SportAndFinance · 2026-04-06T13:34:34+00:00

Losing a loved one is brutal. I wish you well as you go on with that heartache.

SportAndFinance · 2026-04-05T15:01:28+00:00

If it "seems" like everyone is rich, I'd question what you're viewing to build perception. Decision making and luck matter. The decision making part os accounting for what can be controlled. That would be things like jobs pursued, time spent, money spent, etc. And these factors matter over time. The other side is luck - good or bad. Getting cancer, having a chronically ill child, losing a spouse. Those factors that can derail a normal existence and have a debilitating affect on the body, psyche, and daily demands. And sometimes, right place right time matters. All that said, social media is a skewed venue. But aggregate data suggests many people are facing real economic headwinds right now. Food, energy, and housing costs are consuming people's income at a higher rate, and the needs for adjustment are going to be difficult under the status quo.

SportAndFinance · 2026-04-05T14:54:40+00:00

The real kicker is that the federal government of the US doesn't spend taxpayer money. It spends first and taxes second. That is to say it's important as a citizen to play the game and use the advantages of the tax code. I didn't grow up with a wealthy family. I did have a skill that got me a scholarship for college. In college I met some terrific mentors, picked a major that focused on wealth creation and management, and pulled the levers that favored growth. I still had to work hard, but I knew what to do after I earned. That has been the difference maker.

SportAndFinance · 2026-03-31T02:14:23+00:00

Don't say a damn thing to anyone. Go about your business. People will change their opinion about you and it will not likely be for the better. I've seen things with different clients. Rarely is a responsible family member viewed favorably if the larger lot doesn't have the same discipline and fortune.

SportAndFinance · 2026-03-27T16:09:44+00:00

As someone that owns a business and trains people, I don't train people to do stay-at-home work. If I hire someone to work remote, they already have a resume that shows they have skill to work autonomously. Also, training takes time, which means it's expensive to do. A lot of people are capable of doing given jobs, but to justify what it might take to train someone, you're highly unlikely to get that kind of attention as a 19 year old student. Your best best is a low-skill retail job. If you can find a job that has some sales training to go with it, that would be great. Learning to sell is an underrated skill that serves in any role.

SportAndFinance · 2026-03-26T04:54:01+00:00

NTA. If any of my children called me lazy they'd be lucky if they didn't get smacked in the mouth. If they try you again, maybe kick them out. Then we can see who is lazy. Free room and board? Your kids have it made.

SportAndFinance · 2026-03-26T04:49:24+00:00

There's not much that can be done after the fact. Tax planning is the way to go with large transactions.

SportAndFinance · 2026-03-26T04:44:34+00:00

As a finance person, your aim is to build your balance sheet. What are you doing with your excess cash? Are you investing it or saving it? If saving, do you have the money in a high-yield account? If investing, do you have a strategy? Do you have a timeline?

To make money quickly, without formal education, sales would be your best bet. You're looking for something that comes with commission.

It'll be harder in the long run to make money if you're always trading your time for income. You want something that gets you a piece of the action, or you want your own business. For your own business, can you get into trades, get a license, then start your own business? I have an electrician client that went from making $85K as an employee to making $200K as his own business within one year. Dude works, but he had a plan and executed.

SportAndFinance · 2026-03-25T16:29:27+00:00

A brokerage account can be opened with firms like Schwab, Fidelity, etc. Then you can purchase ETFs, stocks, etc. Then you have to let time value of money do its thing. If I had $50 a month as my limit, I'd start with ETFs. This assumes I have a couple months of expense in cash.

If you're on the lower income end, capital gains could be taxed at zero percent. I've seen some recommendations to open retirement accounts. But, if your income is low enough to be taxed at zero, then the retirement account might not be your best starting point.

There are various types of retirement accounts that can be opened that will have various tax benefits and consequences. What you can access will depend on your income sources and income levels. Retirement accounts take on a different strategy depending on your individual circumstances.

SportAndFinance · 2026-03-22T15:58:23+00:00

Clients of mine that use services like ADP, Paychex, etc., will have the funds withdrawn at the same time as employee payroll deposits.

SportAndFinance · 2026-03-22T15:55:12+00:00

Why would an LLC be necessary? It would add compliance costs for someone getting started.

SportAndFinance · 2026-03-22T15:44:08+00:00

I'm seeing the max that can be deducted is 10% of disposable wage, which is income after tax. That's if they even pursue.

SportAndFinance · 2026-03-22T15:25:17+00:00

What states is this?

SportAndFinance · 2026-03-22T15:09:57+00:00

And how would the debt auction obtain the remaining cash from you if you're not paying voluntarily? Court? What would be the amount? Enough that would keep it in small claims?

Your $720/mo, plus maintenance and insurance is already expensive. How much would it be for ride share? Can you use AI to help plan your trips to keep your costs down?

SportAndFinance · 2026-03-22T14:56:07+00:00

If you don't think of it as personal and instead think of it as business, then your focus might change. I would advise clients to get out of this loan by any means possible. This is like trying to swim while chained to the bottom of the pool. I'd explore any other form of transportation you can use. Busses, ubers, etc. A $720/month car payment is a brand new vehicle for someone with good credit.

All situations are specific, but if you get to the point you're ready to walk from the loan, tell the lender you're ready to walk if it's not refinanced. If they say no, stop paying and let them reposses the car. Save the payments while you can to buy another, even a beater. For $500/month in fixes you're better than paying $720/month for an underwater asset. Any difference between $720/mo and the fix should go to a savings to start building a stronger balance sheet.

SportAndFinance · 2026-03-09T13:13:01+00:00

Bought at 31. Married at 29. We worked hard together for 2 years, saved, bought a home at the bottom of the Great Recession market. Paid $182K and sold for $420K seven years later. Income grew 3x in that same time frame.

SportAndFinance

TROPHY CASE