Mid-Atlantic, you're a lifesaver !!!
My name is Rick and I am an Independent Contractor producing sales with several Insurance Companies. I used to pay over $28,000 in income tax and about $9,000 in SS tax. I now have a Limited Partnership and it is licensed to sell insurance. However, now the companies pay the 'LP'... not me! I set up 2 PTO's through Mid-Atlantic and they contract with the 'LP'. My house is in a separate 3rd PTO. Now I pay about $4,000 in Income tax and about $2,500 in SS tax. The difference of $6,500 that used to go to SS tax now goes to my private retirement fund... in a PTO. Of course that will give me an income close to 10 times what SS will!!! Recently the IRS sent me a deficiency for $84,000; they say I owe them from previous years, yeah right! They put a 'Notice' of federal tax lien on me. Big deal, it's not on my home and they can't levy my earnings! After all the home isn't mine and neither are the insurance commissions...
-Daniel S.
