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Reddit user says he has an “uncle that works for the team” and Rhule will be fired

FuFuLamePoo

By FuFuLamePoo,
in Carolina Panthers

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BlitzMonster Mentor

BlitzMonster

Posted
Posted
18 minutes ago, gofightwin said:

It cost like $500 to start an LLC in NC and $200/yr in reporting costs. It’s done to remove an owners name from the tax records, not some crazy accounting maneuver or every house in eastover would be an LLC. Almost every public figure/celebrity does this for some level of privacy.  Search Real Estate record for current/former Panthers that live here…you ain’t gonna find many. 

LLC's can be done just for privacy, of course.   But there can also be significant financial gains to the process as well.  There's no shortage of clever lawyers and accountants out there who can take your tax bill down to zero fairly quickly. 

The 1% live in a different world than the rest of us.  

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joemac Grand Master

joemac

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32 minutes ago, BlitzMonster said:

LLC's can be done just for privacy, of course.   But there can also be significant financial gains to the process as well.  There's no shortage of clever lawyers and accountants out there who can take your tax bill down to zero fairly quickly. 

The 1% live in a different world than the rest of us.  

My dads buddy’s wife is a private chef, and she does a lot of private parties for the Myers Park types. Said buddy bartended at these parties and has gleaned a lot of good financial info from these guys. One of the biggest things is this whole incorporation/LLC thing for yourself. The buddy did this for himself over the past 2 years or so, and the tax/financial gains are wild. So much so that it’s convinced my 72 year old father to also do it, which he’s in the process of doing now. Assuming it all works out for my dad, I plan on doing the same for my family. He’s incorporating in Wyoming apparently. Dad told me all about it over Christmas. 

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SteveSmithTD89 Proficient

SteveSmithTD89

Posted
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19 hours ago, TheRumGone said:

Someone in that Reddit thread said rhule put his house on the market after the Miami game lol

Not true unfortunately. I'm not gonna post it because, ya know, internet... and while I can't stand him the man does have a family who shouldn't be subjected to some of the craziness out there... Anyways it wasn't hard to find if you know which public records to search.

The home is not on the market. Last sold 3/9/2020 for 3.45 million. 

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BlitzMonster Mentor

BlitzMonster

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21 minutes ago, joemac said:

My dads buddy’s wife is a private chef, and she does a lot of private parties for the Myers Park types. Said buddy bartended at these parties and has gleaned a lot of good financial info from these guys. One of the biggest things is this whole incorporation/LLC thing for yourself. The buddy did this for himself over the past 2 years or so, and the tax/financial gains are wild. So much so that it’s convinced my 72 year old father to also do it, which he’s in the process of doing now. Assuming it all works out for my dad, I plan on doing the same for my family. He’s incorporating in Wyoming apparently. Dad told me all about it over Christmas. 

Wyoming is literally the wild, wild west as far as tax havens and financial planning.   The place is on par with the Caymans or Panama or Luxembourg as far as hiding / keeping money.   You have to have a home there and visit it regularly.  But the estate benefits and tax avoidance make it well worth the effort if you have a lot of $$.  It's like why all companies have incorporated in Delaware.  

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joemac Grand Master

joemac

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5 minutes ago, BlitzMonster said:

Wyoming is literally the wild, wild west as far as tax havens and financial planning.   The place is on par with the Caymans or Panama or Luxembourg as far as hiding / keeping money.   You have to have a home there and visit it regularly.  But the estate benefits and tax avoidance make it well worth the effort if you have a lot of $$.  It's like why all companies have incorporated in Delaware.  

Interesting. I didn’t know about the house, because as I said Dads friend has been doing this for a couple years now, incorporated in WY, up and running, and definitely does not have a home there and has never even been there as far as I know. 

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BlitzMonster Mentor

BlitzMonster

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7 minutes ago, joemac said:

Interesting. I didn’t know about the house, because as I said Dads friend has been doing this for a couple years now, incorporated in WY, up and running, and definitely does not have a home there and has never even been there as far as I know. 

Maybe there are levels of benefits depending on what your residency status is.  I am familiar with people  that have homes there explicitly for the purpose of estate planning.  There is no estate or inheritance tax in Wyoming.  

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joemac Grand Master

joemac

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Just now, BlitzMonster said:

Maybe there are levels of benefits depending on what your residency status is.  I am familiar with people  that have homes there explicitly for the purpose of estate planning.  There is no estate or inheritance tax in Wyoming.  

Sounds about right. This guy im talking about is very low level. But, what he’s doing seems extremely interesting. 

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BIGH2001 Grand Master

BIGH2001

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6 hours ago, gofightwin said:

It cost like $500 to start an LLC in NC and $200/yr in reporting costs. It’s done to remove an owners name from the tax records, not some crazy accounting maneuver or every house in eastover would be an LLC. Almost every public figure/celebrity does this for some level of privacy.  Search Real Estate record for current/former Panthers that live here…you ain’t gonna find many. 

It’s not private when a 5 minute search of the public records literally reveals his name and where he lives. It’s not hard to find at all. 

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joemac Grand Master

joemac

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6 hours ago, Cdparr7 said:

Everybody in the huddle is about to be forming LLCs

I am assuming what my dad is currently doing checks out. His buddy did this, bought 4 minivans to rent on Turo and was able to quit his job. He now makes over 100,000 a year just managing those 4 damn Turos in Charlotte. It’s insane. I’m tired of working for the man. 

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