is an LLC the best way to hide income??

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is an LLC the best way to hide income??

Matt Salazar
Real Estate Investor · TX · Member since 2010 · 16 posts · 5 votes

I have an Ex wife who will be taking me to court in the near future, I am trying to structure my business entities for that. Any good ideas?

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Bill Gulley
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
16y

Hi, no one wants to stay away from an X more than I do and I understand you guys wanting not to pay alimony, especially if she is shacked up, but really! If it's child sipport, take responsibility!
There is no legal way to hide money, not with an business entity, not with any off shore account, no trust, there is just no way to hide it legally! Don't believe me? It's called money laundering, tax evasion and perjury when the question asked in court is "How much do you make?" Simple, own up to it. If you don't want to pay anything for five years don't make anything! If you owe it you will pay it eventually, so get it over with and pay her off. See if you can get a lump sum payment to get her off your back. There are ticked off father/husband sites to address marital problems. Good luck, Bill

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  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    15y

    As stated court costs can get very expensive.It's better to mediate out of court in many cases.

    The question is do you think going to court after expenses you will be off better than settling out of court??

    A friend of mine invented Goof-Off cleaner.They went through a divorce about 15 years ago.

    The soon to be ex-wife said the company was worth ex and of course he said the companies valuation was worth way less.

    The parties couldn't agree so went to court and after a long battle finally settled.

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    0Reply
  • NA NA
    Cincinnati, OH · Member since 2014 · 1 post · 0 votes
    11y

    I guess Matt wasnt able to hide is money from her and got mahhhhhddd.

    http://www.gosanangelo.com/news/man-indicted-for-grape-creek-shooting

    0Reply
  • Albert Ng
    Rental Property Investor · San Jose, CA · Member since 2015 · 401 posts · 221 votes
    11y

    I'm reviving an old topic here, but wow ... it's one of BP member! A prenup, or not getting married might save your life, I guess.

    0Reply
  • Greg Winkler
    Janesville, WI · Member since 2016 · 2 posts · 0 votes
    9y

    I am just joining this thread with a related question.  My wife does not support me getting involved in real estate investment (which I am on the verge of doing).  She and I both want me to start a business outside of our marital property because she is afraid that she'll be responsible for the debt that I acquire.  She doesn't understand how this works and is not interested in learning about it.  So, any thoughts about whether this is possible with her approval?

    0Reply
  • Joey Arellano
    Milwaukee, WI · Member since 2017 · 20 posts · 4 votes
    9y

    im not trying to dodge what i owe in arrears child support all my kids are grown,i pay a set amount every month. im trying to start an online biz so if i start generating an income even though i pay my obligation every month can they take from that business cause i owe a substantial amount can they take monies out of the biz account without notice.

    0Reply
  • Joey Arellano
    Milwaukee, WI · Member since 2017 · 20 posts · 4 votes
    9y

    is this not a place to find answers am i in the wrong site.

    0Reply
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