Tax Free
Reading time: 2 – 3 minutes
Tax Free – Uncle Sam can’t fade this.
Hustle is probably the greatest gift someone can have. As a result it reaps a double blessing as money gets made and you don’t have to share it with anyone. Now most Suckers see the average Hustler selling fruit, flowers, incense and thinks to himself I wouldn’t do that.
The guy on the corner selling fruit probably sells about 80 bags a day making about 80 bucks. Sam the Sucker Security Guard makes 10 bucks a hour guaranteed in the same 8 hour day. So the Hustler 80 and the Sucker 80, but the Hustler doesn’t have to split his with FICA, the State, the Feds, and other BS that you see on your check statement. The Hustler also has cash in hand at the end of each day. He can go and reup the next morning with more product and hit the streets again turning the 80 into 200 and so on. Now Sam the Sucker Security Guard doesn’t have his cash until the end of the week or the following week. Sam is counting his pennies, seeing how many miles his car gets to the gallon, and complaining about his job and why he can’t get ahead.
For every Sucker dollar Sam makes the Hustler makes near three. Sam probably is paying about 33% taxes out of each check so that takes him down to $53.60 per day. Our Hustler makes a pure 80 bucks (minus the reup costs) so let’s make it 70. So at the end of the week Sucker Sam makes $268 while our Hustler makes $350. On top of that the Hustler doesn’t have to wear a polyester uniform, waste gas, pass a drug test, go on a interview, protect cowards, and overall play the Sucker role.
Bottom Line: Most Hustles are tax free and that’s why they make cats on the street get a permit. Without that permit they wouldn’t be able to investigate if you made money without paying the feds!
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Take it a step farther. Let’s say Hustler blows up to the point where he can’t avoid throwing the Government a bone by paying “some” taxes. That same Uncle Sam that all of you workers love so much, has completely rigged the system so that Hustler can deduct so many things (like gas and even clothes) that he will still pay less than working class folks. That’s if he has to pay any taxes at all.
You’re right because that’s the game I play. I was going to talk about that later but I’ll do a bit now. You can lease a car through the company and deduct the gas and the car from your taxes. The car company will still use you as the backer so it’s a personal guarantee. So the come up is you can lease the car and deduct the money from your overall taxes. It’s a win win!
Another one is travel because if I go to Atlanta and put it on a business card it’s a business expense. Truth be told I am going to survey the area for business and personal reasons but it’s legit as a business expense. All the gas, rental cars, hotels, food and even nightlife are part of the business expense.
It’s a Grand Hustle!
I agree with Carl and You because last year I did a little Consultant business with I didn’t think was a business until I realized anything you make over $600 you have to report on your income tax because I didn’t trust this person because if they get audited and I didn’t file these taxes that they paid me with a check from their business checking account. My accountant and I decided not take any chances. So, when I filed my taxes which, I thought would make me pay more taxes it was just the opposite (smiles)!! Last year was the first time I had a taste of the incentives of owning my own business and the tax breaks you actually accumalate from havinf your own business. I felt powerful and in control. Funny because those are things people want from their jobs working for someone else, but in reality you have NO power and NO control because most states are “at will” states, which means your boss/company can fire you “at will” with NO explanation!
You know I just remembered how people I know were blown away that I LEGALLY deducted trips to Costa Rica and Brazil. All it comes down to is that Uncle Sam may only kinda like Hustlers; but by comparison he straight up hates the workers.
@Freedom – Yeah I remember At Will I think I was in Philly when someone told me that. I responded by saying I have a No Notice policy which means I will leave unannounced for more money. They started laughing but I said they are telling you they can fire you for no reason but you still give 2 weeks notice. I mean some people just don’t read things I guess.
Either way I am still learning all kinds of things I can put under my business. The biggest hustle is everyone can start a business and buy a car. Then they can write off gas, trips, and even the depreciation of the vehicle. The game is so funny but they would probably change the laws if everyone was up on it.
@Carl – Uncle Sam straight up dicks the workers! I truly understand why Republicans complain about taxes because it’s the truth. They will raise taxes on the masses and leave everyone else alone. People need to wake up and understand to own and run any business is better than working under someone else.
Oh, don’t forget the Earned Income Credit and government benefits (MediCare, Food Stamps, Housing, etc.) that the street hustler still qualifies for.
Not only is he taking home more of his money – but he is also taking home more of yours.
@UBJ – I forgot all about that! That is definitely another plus to doing for self on the street hustle angle. The come up can definitely be enterprising where you got cash and food stamps. This is like the lazy man’s hustle of champions! LOL