A R/E INVESTOR STARTING OVER, GREEK TRAGEDY – CREATIVE NET INCOME FIN. QUESTION


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  • New again, but an long term member starting over. .

    Hello and thank you because I feel Mr. Miller (& team – Ms. Lange, etc.) where always an inspiration and in retrospect feels almost like an Oracle from the past forecasting the present in one manor or another: from personal experience. Separately, I am starting over from $Zero with my new wife, planned baby; at almost 50 🙂 And I feel we only have X amounts of 10 years in life, hoping to finally enjoy every minute of it.

    Please don’t judge until choose to read. I sold my R/E investment portfolio years go which would currently be producing $55,000++ annual Net income after expenses, excluding appreciation, etc. because my father was passing. Short version, my dad forecasted something coming before I did.

    BOTTOM LINE QUESTION:
    1) Pleases, advise any ideas regarding how and / or if it’s possible to Reduce Net Income because X is now coming after 40% Net Income. Whether through W-2, some sort of pass through, LLC, 1099, etc.? X lied to courts, completely drained my kids college funds and me financially. I’m not currently working, however aggressively searching.
    2) My careers include 3 of 4 startup Companies in 20++ years. Expertise in about every vertical market and most business aspects. Which in part include, Sales within Net new, Expansion, Management, Leasing, Software, Manufacturing, a bit of legal exp. etc.. Average tenured YTD quota past 14 plus years = 135%+
    3) X’s boyfriend cost me my previous career of many years because of false customer claim(s) to H.R. I recently lost my recent career because they lost VC funding with an National/Global objective. Separately, statutes seem to read, if lost last 2 careers, income can’t be imputed?

    NEW FAMILY:
    My new wife (3+ years – from Brazil) and I are now happily planning a new family, IQ 168, Finance Dir, with additional multiple various Master’s degree’s etc. And yes, I wouldn’t believe it either at first. Anyways, she owns a respectable amount of R/E down south, free and clear; so, marriage is not about finance. Furthermore, she essentially takes full remote Financial Care of her parents and some relatives. Both of us are starting from ground $zero as a result.

    SEPERATELY:
    – X as it turns out gave birth to 1 DNA son and remaining 2 are someone else’s. X lied to courts, filed an IRS – Innocent Spouse Relief form, etc., all overturned in years past. I recently learned my 14 yr. old daughter is my X’s current boyfriend. They live separately about a few blocks apart for a reason and his cash business nets about $130,000+ net yearly with $160k published annual sales rev. Go figure…………uggh….He also pays X CASH for part time work. Not to mention he wrote that he plans on financially bleeding me dry until kids graduate High School, etc., etc.
    – I always woke kids up, took and picked up from school, sports, night routine, +++.
    PARENTS:
    – My Dad had multiple Stints in Heart, one in neck, and finally one in his bladder (Cancer causing pressure) in hopes of seeing my sisters first Child be born, always contributed free time to help the local community. On the back of Dad’s grave reads: “LIVE LIFE FOR OTHERS.” Unfortunately, he didn’t make it.
    – Separately, both my parents both came from very Religious Farm Families, and I spent summers Working on my grandparent’s Farm in NE to learn religion, strong work ethics, family, etc. My mother’s family made a obligation to the Diocese about 65++ years ago that if take care of crops that they would send an priest to the middle of NE. Still going to date.

    Because of COVID, my wife an I have both worked at our same home table, always full open conversations, and happy.

    Again, thank you in advance for any guidance (Nothing legal, etc., only opinion requested please), regarding net Income.

    Sincerely,

    Dan

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