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Marrying without a prenup? ************************ nooooo!
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.Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals. -
Definitely.Comment
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It sounds like someone should start a pass through business setting up high net worth singles . . . Sounds fun to me, I love playing matchmaker ?Comment
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I think someone beat you to it. There's one called It's Just Lunch. I've seen it advertised in in-flight magazines. Never tried it, though.Comment
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It sounds like someone should start a pass through business setting up high net worth singles . . . Sounds fun to me, I love playing matchmaker ?
What does pass through business mean?Comment
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It sounds like someone should start a pass through business setting up high net worth singles . . . Sounds fun to me, I love playing matchmaker ?
What does pass through business mean?
Like an s Corp, LLC, partnership, etc. A business set up as a pass through entity.Comment
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Sorry to hear that Hatton. Personally, I would not marry anyone who does not want to sign a prenup, especially as a female. To me, it is a huge red flag. I don't understand why not signing a prenup would make someone happy. Divorce happens for all kinds of reasons and actually the husband is holding more of the cards because he can biologically start over with a new woman and have more kids anytime. Women are more limited biologically. I wouldn't add another reason to that mix by taking on all of the financial repercussions of the possible divorce.Comment
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It sounds like someone should start a pass through business setting up high net worth singles . . . Sounds fun to me, I love playing matchmaker
What does pass through business mean?
Like an s Corp, LLC, partnership, etc. A business set up as a pass through entity.
What's passing through? Thats just made me more confused, lol.Comment
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Sorry to hear that Hatton. Personally, I would not marry anyone who does not want to sign a prenup, especially as a female. To me, it is a huge red flag. I don’t understand why not signing a prenup would make someone happy. Divorce happens for all kinds of reasons and actually the husband is holding more of the cards because he can biologically start over with a new woman and have more kids anytime. Women are more limited biologically. I wouldn’t add another reason to that mix by taking on all of the financial repercussions of the possible divorce.
A friend of mine had a prenup for $250k. His wife left and she got 250k plus child support. I gave my ex a 35k piece of property. Your prenup amount will be the what you give him. I have known of docs giving 2-5 million for a long marriage.Comment
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It sounds like someone should start a pass through business setting up high net worth singles . . . Sounds fun to me, I love playing matchmaker
What does pass through business mean?
Like an s Corp, LLC, partnership, etc. A business set up as a pass through entity.
What’s passing through? Thats just made me more confused, lol.
The taxable income or loss of the business. iow, you have 2 separate tax entities: the business and the owner or shareholder. The business reports the profit or loss on a separate tax return (1120/1120S for corporations and 1065 for partnerships) or schedule C for sole proprietorships. However, the results of operations (again, profit or loss of the business) "pass through" to the owner's personal income tax return.
The profit or loss is reported by the business, but taxed to the owner, not the business.Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087Comment
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Single income, no kids attending here. Any financial tips specifically for my crowd? What should I do differently than those with dual income and/or kids?
Depends on your age and what you want to do with the rest of your life.
I was in your stage of life in my mid-late thirties. Lived in an apartment. Worked hard ( but took vacations), lived way below my means and invested aggressively. I could have retired in my late forties but have chosen to work much less than full time yet keep my skills sharp.
Also found a spouse along the way of my life's journey.Comment
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Sorry what do you mean he had a prenup for $250k? I’m not exactly sure how it worksComment
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It sounds like someone should start a pass through business setting up high net worth singles . . . Sounds fun to me, I love playing matchmaker
What does pass through business mean?
Like an s Corp, LLC, partnership, etc. A business set up as a pass through entity.
What’s passing through? Thats just made me more confused, lol.
Maybe read the most recent WCI article about the new tax law for a better explanation? It's just a way of setting up any kind of business. Not specific to a dating app business.
But maybe you're just making a joke and I'm not getting it. Hard to tell on the internet sometimes.Comment
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Sorry what do you mean he had a prenup for $250k? I’m not exactly sure how it works
His prenup stated if they got divorced she would get $250k. He was divorced in about 6 weeks (she was having an affair also). This is much less than 50% of his net worth.Comment
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The taxable income or loss of the business. iow, you have 2 separate tax entities: the business and the owner or shareholder. The business reports the profit or loss on a separate tax return (1120/1120S for corporations and 1065 for partnerships) or schedule C for sole proprietorships. However, the results of operations (again, profit or loss of the business) “pass through” to the owner’s personal income tax return.
The profit or loss is reported by the business, but taxed to the owner, not the business.
I am assuming this reduces your overall taxes somehow?Comment
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