0:12 Hey, all, Thanks for joining. 0:15 I'm just going to do a Q&A tonight. I didn't really have any topics to start with. Let's you guys want to prompt me on something. 0:21 Is there anything interesting going on? 0:35 There. I'm sorry. I missed the very first part of what you said about you...

Hey, all, Thanks for joining.
I'm just going to do a Q&A tonight. I didn't really have any topics to start with. Let's you guys want to prompt me on something.
Is there anything interesting going on?
There. I'm sorry. I missed the very first part of what you said about you for your question.
Sometimes, I'm not that organized, but I don't I don't have a subject specifically.
Um, but I see that the same people usually on the call, so I just wanted to see if you guys need anything. Yes. Yes. Yes. Oh, I'll send you I'm very very worried about Caleb and Brown because they told me that they had issues running my details and Oklahoma and that was from what I submitted when I use utility. Bill and I set up the account in April 2021. So I'm worried, does that mean that they're digging deeper?
And I'm afraid they will actually contacted leasing company, and ask if the tenant, they might do that, but that doesn't matter. Yeah, I don't know what they're doing to check, but what you're trying to do is, they want it notarized.
Yeah, yeah, yeah.
So that's where you'd have to literally have someone like a nominee. You know, do this for you, like actually, they think I'm in New Jersey right now? And I'm going to tell them that I stumbled and hurt me and my shoulders. So I'm late getting this thing to them. And what I did? I took my passport to New Jersey. And I took the lease agreement, and I had them record the, the address on the lease agreement, as opposed to the New York address, so I, I do have that.
So You think, Oh, so it's OK. I'm going to try to submitted them.
Yeah, just go with that. Right?
And just, I mean, people sometimes are in a situation where they're moving around, especially now. So I know that in your instructions, you said to predated like, a month, But since I've already this is not a new account for me. Like, I don't think I've been there all the time. I predated to April.
So if they have any questions and I also included utility bills in my rent, quote, unquote, that's pretty good.
So they can ask me, for a utility bill, they just want plausible deniability I know, kilogram, OK? They want to help you. And they just, you know, I checked on the law in New York. They're not precluded by law from interacting with New York residents.
But they want to act like they are just to avoid any scrutiny at all.
So, yeah, that's kind of the air about everything, I think they can do whatever they want. I mean, they're in Australia, it's a state. It's not the United States, they could, do whatever they want, that's right. So whatever, I mean, I think they want to do the right thing. I interviewed him a long time ago, several years ago, and I wanted to find out under what its licensing scheme, they operate, And they were actually saying, that was, was, that I was talking to, Jake: I think it was shake. Yeah, OK. There was another challenge?
He left, I think, But, uh, Jeff, Jeff, that's who was, I'll start with Jeff, these guys are, really, they really want to do the right thing.
And, and, I even had a one-time Jeff called me, and he said that people that were in our group, they were doing a certain transaction a certain way, and, and he said, Is this what, you know, suggest that they do? And I said, No, I told not to do that. Because they didn't know, they didn't understand how to, I guess, they weren't following instructions, or whatever, so, he was really concerned that they were doing the right thing. So, I took care of that, so, but, I ask what licensing scheme, they're under.
I was kind of disappointed when he said we're trying to get under financial services. And I was like, well, OK, if you are going to have more regulation.
But, so far, that's but, three years ago, So, they haven't done it well. I know, I know that's a void of any coin like Monero that can be considered a commodity because they don't want to get into that.
And I won't buy anything that Caleb and Brown can't rule. But Monero is cleaner than the US Dollar. I don't know what the problem is. Oh, sure, sure.
On the planet, still is claimed that the US dollars used in more money laundering and crime than any other currency? Yeah, I know. And they try to make it out. Like crypto. Bitcoin is used for that stuff for grazing.
You guys know that there's different types of bitcoin.
You can get freshly minted so to speak.
That's never it's you have the wallet, the first of all it was ever issued.
So, now it's not broken apart from other transactions this is purely they called it clean, like minted coyne, I never heard of it.
So what's happening is PayPal's buying up most of them.
All the nemesis that we have, that are interfering with our money rights or they're the ones stepping in front of getting all the benefits out of this technology that should be helping us.
So, whatever.
Oh, quick. Quick question. Did you get an appointment with Holly? I sent everything to her.
Yes, and she's very nice about setting up things, and so we're just waiting.
She said, Yeah, I don't know. Well, she will contact you. I told her to let you know if there's a time, but I do have a time with her.
This is going to be And to September because she wanted to She said she wanted to give you as much time as possible. But apparently you've already given that thing. So yeah, as long as she hasn't been, you know, she has it. Just follow up and make sure.
Make Sure she has 600. I called her. I got around the phone. No. Alcohol or again. And just make sure. Please, because she was so nice about it, even told me that under the rule, she's not allowed to keep it a case open, that launched. You should have closed already. But because we were kinda got her on the hook with the most recent tax returns. She said, I'm, I can be justified and keeping it open. And I said, You know, that letter I gave her? I said, I know you guys, it's purely in your discretion to remove the penalties. I said all I really care about is that you don't levy her pension and that you work at a reasonable plan. So, she's not, you know, in a hardship situation and she's like, yeah, I totally got it.
And she said: the revenue officer is not one of those hunt you down type opposite because she goes, there are those that just hate people, She said he's not.
And so she understands what I'm talking about. So, I guess that's you have to be in that situation is about the best she can do.
Do you think that they will give back what they took out of my checking in Gemini account? I don't think so. I hate to say, I also think that I think they're going to keep the penalties. But what's really where we always come down to is the hardship situation, and that is squarely within their Internal Revenue Manual, and I can get them to agree to no payments or small payments, OK. It just comes down to what we work out.
So I asked her if we needed some more disclosure. But I don't even think we have to appeal anything. Yeah. That was for, she said it for September 19th in the morning. Another 10 30, and it's going to take that long to get My Social Security. That was her being nice to you. That was her saying, Hey, I'm gonna put that date there, so that way, I give you plenty of time. I mean, if she said, A week after it would have been closed already.
So, make sure pleased that she has those. OK, I will color again, because of her eyes. I call it like four times before I got through to her, But I got the stuff, and so I know, I'm, I guess I'm just hesitant to talk to her.
Because I'm afraid he's going to try to pull me into something Well, let me do it then she's happy to talk to me.
No problem, OK, we'll get it done though as I can get an earlier appointment with you, Is that OK?
You can share, talk to me before that whenever. We're just going to give me, give me a date. Give me a date for next next week, then, because.
Because probably you probably don't have any time to run, I don't know if she, she won't have any time. This too much less well, all I care about right now is that she has everything she needs.
And so if you can just call her and let me know what she says, just make sure she has everything she needs. That's all we care about. You don't have to make an appointment, I mean just send me on telegram or something. There's nothing else to discuss. Really.
We just, and the rest, everything else.
You want to keep it out of your name, like, we always do, Yeah. We'll get out of that. It's just a shame that you got in that situation.
The way you did, OK.
It's crazy, Australia have a question?
So a bit of a problem kinda came out.
So we have a company that wants to transfer a significant amount of funds to to us for a service or job like you know, my dad's landscaping maintenance kinda stuff. And they don't want to write a check, I don't know why. And so they asked for our routing number.
I think that's fair. That's fine, yeah. That's faster. I make sure that you give them the routing number four wire transfers that's different than your regular routing number, OK. So routing number, four wire transfers, Yeah, call the bank and make sure to confirm it.
Don't just give them the number that appears used to be able to give them the number on the bottom of your check.
And it's not that number anymore because the bank has additional security protocols.
OK, yeah, that's what I thought.
It's easy enough. There, they want to do some extra stuff. Sometimes they want to sign. An account is So you may want to have to, may have to give them additional information. They may also want to know the address on record the bank has for the account holder. So, but whatever. You just given that The wire it, It's nice to know, that other company, Right? Yeah, The company that's sending the money may be asked by their bank.
Oh, information, so, and if they do that, normally, they'll know to ask you for that.
So, just be aware, OK? Awesome. No big deal, yeah?
Anything interesting out there? Yeah?
Millimeter, hey, Corey. Unmute yourself.
It's good. when you way, That's a sign language. Right? Hey, just real quick, I want to make sure I'm in the right media, and I signed up for the four o'clock slot. I wasn't sure if it was overlap from the other meeting before, or just want to make sure I'm in the right place, or OK, I didn't see on my four o'clock, I'm sorry. But, if you're OK with talk to me, now, they'd be great. If not, I can do another one-on-one with you. Will be my for my 4 0 PM Pacific Daylight Time, which as well as 47, OK, Yeah. Sorry, I didn't. Yeah, it's gonna be, it's gonna be now, so.
Yeah, it's four o'clock. It should be. It should show up my account. I'll go, look.
That's weird. I should have seen it.
I made it to where you can't book within 24 hours, so when I look every day, if it's not on there, I don't have it in my mind, but I'm sorry if I missed it. What does it, you want to cover something now?
Yeah. Just like I said, I can make sure now the right time. So I have three LLCs that are incorporated as partnerships all on the state of California.
one of them, I do take self employment earnings from, and for all three of now, my file, and 65, and do all that stuff. I'm just really tired of filing 10, 65 for 3 LLCs every year.
And, again, I'm sure there's just something that you would like to cover in depth. I just want to make sure I'm bringing up the wrong tree. Is there a better way I can incorporate those? Or OK, this is a really good question. This probably is the whole call.
I mean, this is the core of what I like to do. So, you're in California, It's 800 bucks a year per company, your piping, the accountants, the money. You're filing returns, not saying it's wrong. It may not be necessary.
The purpose of a company is to manage risk, not to prepare your tax returns. Everybody sets up a company so that they can prepare tax returns.
Yeah, that is one of the things you do after the fact, but you're really trying to manage risks and my question to you is, Why do you have three LLCs?
So one of the goals is to basically run a DBA, and bring them together LLCs into one of the other ones, I worked in aviation.
It's a very risk prone industry. So, when our mind and siloing, those off into two separate entities, was ideal, one of them is a business that actually does work on airplanes. The other one is a business that Owens, our assets, such as our aircraft, some cars, that kind of stuff. So, the reason being that, we thought it was pertinent to separate the two and to manage the risk. Yeah. Aircraft, I would have a separate holding company, and then my professional service cash flow management goes into another cup, it makes total sense. So, you have a company for each of those things, right?
Correct. Yes, you have a third LLC doing a different business type altogether. They want to bring into one of those, and that's what you get them for it, OK? Perfect. So the DVA can be, set up, in any company you want, you don't need another company, to do a DBA that's not a DBA right?
So, if there's, like, I don't know why you want to do DVA. You know, there's all reasons. Marketing, you know, whatever management.
Brand recognition, So you just set that up with the bank and register.
Sometimes, sometimes you don't sometimes as a trademark, but yeah, a DVA is assigned to one particular company, I always make the company, the owner, the DVA, the fictitious name, and sometimes it becomes a trademark or trade name.
I don't know if you're, I don't know if you're involved in all that stuff, and sometimes you get into licensing, too.
So, I don't know. But yeah, that's fine. Yes. If that we'd like to convert to a DBA, so to speak, if that one already has its own EIN or the address on bank accounts. How does that work for me? Over the EIN is assigned to a company.
A DBA is not a company.
It's a name.
Right, so I can have a DBA, but it's just me, right?
So that if I got a DBA sign, I'm going to start an EIN Assigned to doing business as designation, like John Singleton, DVA, Billy, Bob, right?
I'm still the EIN assignees.
I'm still liable for it. But if I have a company, that company has a particular name, let's say it's an ugly name, or it doesn't fit a thing, I'm going to do next.
Well, I would just operate that company under a fictitious name, a DBA as they call it.
There's, there's nothing to do there other than do at the bank says, in order for them to recognize it. So I always go to the bank first. That's the first thing I do when I want to do a DVR fictitious name is, I just asked the bank, how can I clarify with a fictitious name through this company, and they'll tell you what they want to see. They want to see it. You publish the name in the newspaper, right, for three times, sometimes, or you just register with your state.
I think California has a way to register DVA for that company.
So you're not going to, you're not going to convert an LLC to a DBA that doesn't, there's nothing going on there. There's another conversion there.
Yeah, I wouldn't do that.
anyways, I mean, you've got aircraft, You want to have that as a separate holding DB is simply names, OK, marketing or things like that. But I don't see a problem with separating everything out now, as far as, you know, handling all this.
OK, cashflow, you don't need to do a tax return.
Is the Feds are this are the State of California for a corporation that holds title to vehicles, vessels or aircraft?
That's all it's doing, OK?
You can, now, there's a version of this.
You can take the company that's managing cash flow and make that separate from the company that's holding the registration for all the vehicles vessels aircraft.
So the vehicles vessels aircraft are owned by a company.
That company makes no money. It has no EIN, no filing requirements. Nothing's needed there. Now, you have depreciation, things like that.
That can all be taken through the 1065 filing the LLC.
That files a return that receives all the cash flow that does all your cash flow management.
I'm not, I wouldn't change too much what you're doing. Because I don't understand.
And I don't, I don't know, the accounting on aircraft, but I can tell you that by receiving money, you can pool the money somewhere before it hits a tax liability. In this situation, as soon as the companies get money, they have an automatic tax treatment.
No problem. But that's just how it works.
But if I want to received the money first and hold it before I decide where it's gonna go. I want to hold it in an unsettled status. So I set up an LLC as a pastor and never files a tax return.
So, that can be done, but then, again, you've got write offs, you've got substantial write ups, more than likely with aircraft.
I don't know that, that would benefit you to just, do what my chiropractor would do, my chiropractor client.
So, let's say my chiropractor client is, you know, making $2 million a year. And the irises now, for some reason, they're living everything because he owes money, you can't pay, my, didn't Pam? And so I can stop the levy without even talking to the IRS. I could just set up a company, move, all receivables over there, and then we can re-organize and then he can pay his bills, keep the lights on, the IRS gets nothing, and then he can diminish his taxable income by keeping whatever is left over in that company.
I'm not saying that would be a good practice for you, but what I could recommend is, um, the holding company not follow return, but the company that files a return. I wish I would keep on doing that.
Um, for the all the cash, It should manage all the cash flow, but have no vehicles vessel's, no titles.
And that company would have the Write Offs for the Depreciated value. It seems like things like that.
Just one.
In the other, Well, you have another unrelated business, right?
Yes. So, what is it doing?
We do circuit board design and manufacturing so totally separate until you're making stuff and selling right.
Pretty easy. That's easy.
That you can do without doing a 1065 and make it a pass through, It's just that you still have an individual tax liability. So I can diminish like, if you're making your companies making $5 million a year, and you only need 100,000 live, or a quarter million to live every year, pay your expenses, your minimum expenses. Then you don't need to pay tax on $5 million. You can pull that money into an LLC. Now, what you've done is that business operates, and it's falling 1065. What are those S Corp?
Their tactics, memberships.
They're their way.
They're taxable as an S corp. S corp? Yes, do they have employees, W four type things.
Know, it's all passive income to meeting. Interesting, OK, Based on the income threshold is not the way to do it anymore. So we are going to be transitioning to payroll for myself. So are you going to outsource that? Are you going to handle yourself, the payroll?
Whoa, Bullshit, What's that, I'd probably outsource. OK, that's always ask if you had employees, because usually when you have an operation like that, you're gonna have employees.
You got three different company, you don't have employees for the aircraft.
No, not right now. No, it's interesting, OK. Well, good, That's a huge problem to have to deal with. And if you don't, keep it that way.
If you have to have employees, know you can't classify them as independent contractors, if they're really employees and for that, if you need them, you can outsource those right at least back and still keep the same setup that you have now.
I'm going to move closer to where I might have veterinarian over here. Sorry about that.
I don't know that um, I'd recommend you run off and make some changes right now other than you can it.
If you have equipment in your business, if it's real estate, if it's equipment, or if it's aircraft, like you're talking about, or vehicles, or something like a fleet of vans, or whatever, Those can be all titled and held in the name of a company, Independently of everything else, and it does separate out liability.
It's like right now, you've got aircraft, You did, you separate it out, and but it does not have to file a tax return.
It doesn't have to do that to get deductions that, those can be claimed under the other company structure, That is receiving all the cashflow.
And and are you the owner, or do you have partners, or you have a board of directors?
I had already taken in all three. Yeah, that's pretty easy. Yeah.
Yeah, I would I'm not saying, you know, it sounds interesting, a lot of things I'm saying, but I would just slow down and just let this digest a little bit. And if you want, we definitely have to talk more.
I would just recommend that.
That reducing taxes, income taxes is not, should not be the objective.
The objective really should be managing risk, and you've, you've kind of done that. Did a pretty good job on that.
Because you separate out aircraft from cash flow. That's a pretty good deal.
Then you've got a separate business, and you did set up another company for it, and yeah, it should be that way.
Other than that, and you have no employees, so that makes it easier to work with.
Mean, really, the easiest 1 to 2, to try to transform, as they say, some Some of the clients want me to convert what they, their S corp into something.
That 10 65 that's on the The PC Boards. That would be the easiest to do.
I don't know what licensing is involved.
Like some of my clients are truckers, that's a little more difficult, especially the jurisdiction that, where they're registered in, just because of the way the licensing works, like, you've already else, you've already separated your cash flow on the airplane, so that's pretty good.
I don't know if that answers your question, but, um, I guess it does somebody else's question.
I just wanna make sure I understand this before I let you move on. So the fleet company that owns right now, the aircraft vehicles or whatnot, we haven't filed a return for that yet. I'm on an extension for that, because I wanted to see exactly how it was going to get everything set up. I'm not confined impacts anything automated harder on myself. That tends to be the way I like to do things, apparently. What I'm hearing then, is that for the, that can be an LLC that just owns the titles that some maintenance on the titles. And then one of our other LLCs can actually manage the cash. Take the deductions for depreciation. That's exactly right.
Yep. And you can make that one, that has all the cash flow, that sales tax returns. You could make it the owner of the one that owns the airplanes, you don't have to do that. You can report it that way, and it'll be just fine.
You can keep the ownership separate.
So it looks like strangers, you don't have to own on all three or have them own each other.
You can separate them all and still make the claim as if they're owners of each other, on your tax return.
Because the beneficial interests allow you to do that, OK.
Gotcha, OK. You can chat more. in-depth. Yeah. We can talk more and we can set up another time, I mean, what's what's generally good for you? Or do you want to send me a telegram message?
And we'll just organize another time Yeah. I'll get Telegram setup, and I can just use I think you had your website. Correct. Yep. That'd be great. Just. It's JJ Singleton.
OK, gotcha, OK thanks.
All right.
Stray, Hey, Mike, I just had a question just to verify some things and I think I know the answer to it, but I just wanna make sure, so he's got a hobby, that landscaping business isn't registered. So that's why I kind of call it a hobby. And humans around it to the LLC and I told him that was fine because he has no brick and mortar and he doesn't have employees, so there's nothing really needs to do, Correct? Correct.
That's what it is for you.
OK, Hey, John, this is Todd. Also. I actually work for some property managers and they've been paying me to do work on their houses and so forth.
Can I use, no, they didn't pay me to buy, checks and so on and so forth. Is it OK to deposit those in the LLC or is that going to create you can do it but your risk is going to be on the payor. It's going to be on the person paying you because it depends on if that person reported on a 1099?
I don't think he would do that.
I just am sorry. I just need to ask him if he's reporting on a 1099.
Just or just give me your company name and say hey, you know, when you pay me, just make it out to my company.
Oh OK.
It sounds, if it's in his name, then that's when you have to worry about it to 99. But if it's a company name, it's fine. If it's in, his name is not a problem He can put it in his LLC If the bank will let them, sometimes they don't but to make a clean you just tell the payor who's going to pay if it's a check. Just tell me, write the check out to your company, They'll understand that, yeah, Yeah, because, the source of where the money's coming from is, though, is the risk that, that is the reporting party, it doesn't matter.
Once you get the money, it doesn't matter what you do then, because there's always going to, It's already going to be reported a certain way, and once you get it, OK, OK, and would it be possible?
Maybe after this is over for me to talk to you about the EEOC thing, just for a couple of minutes, I just had a question.
Yeah, we could do that. I mean, go ahead and ask me, unless you want to do it separately.
I can, I can answer now. Oh, I didn't want to take anybody else's time.
But I can't, OK son! OK, well, the EEOC, you got back to me.
And actually, there was the eight. It was APS.
It was read that, if you're, if you're retired voluntarily, there's no cause of action You can't do anything.
Well, I didn't, I mean, I thought that we were going on, that they forced me to retire because I wouldn't do the mitigating mitigating. If you if your documentation shows that you just willingly retired now that there's no you have to make them fire you in a knockdown drag out fight right.
Kicking and screaming OK so it was just a waste of time and I shouldn't even gone after APS Yeah, there's nothing to do I mean after I read that I read the position statement today.
OK, once I got to that point, I wish I'd read that first. That's it.
You voluntarily leave, I mean, they love it, when you do that.
I would have made him fire me, OK, awesome. Thank you.
All right, Yeah. He'll, just as a note here. I was gonna contact about her because I had some more information, but I'm gonna read your note here, OK.
You can ask me so if you need to Is there anybody else?
Yes. OK, I did make an appointment with you for Thursday's reasserting. I mean, on day at 3 30. Monday at 3 30. Monday at 3 30, OK.
And it in, I hope I will try to catch Holly first thing in the morning tomorrow and I'll put her what she says on Telegram, so I just wanna remind you to check Telegram. OK, thanks, and we'll do that and then we can talk on Monday and I'm going to send in this stuff to Caleb and Brown and I'm going to try to set up an Oklahoma bank.
The other thing is if I am needing to pay more on my credit card bill that I'm earning in social security and pension, aren't they going to see that?
Possibly? Just try to status quo. I've been, I've been paying my credit card bill with cash that I had in the house, and there you go. If that question comes up and I would not ask you, I would not for from today.
Just because I'm saying this, don't do it Because I'm in front of you with the IRS. So let me intervene. But what I would say I'd say to you, is that if we have to answer a question, I would frame the answer. But basically, it's the cash you've had in your shoe box that you had to dig into, because? I know, but I have to be careful about how I say it. So, fortunately, she's happy to talk with me, and we're, and we're good.
So, because at first member, she's like, I don't know if I want to talk to him. And now she's out.
Misshapen You didn't always throw a nice line every every time I talk to her.
Your vacation, And she's yeah, ****, that, you know, I don't care about our vacation, but she does know what she's doing. So, I'm glad, yeah.
Because I have rent payments now coming up, that the landlord got the court to improperly dismiss the case, which is really stupid for, for them to do.
So, now, I have to pay rent, which I will going to have to pay in cash, well, that actually helps the situation with dealing with the IRS. Even though you're going to be out markets Oh, yeah, Oh, yeah, here's the thing you want to get it without hurting yourself financially without creating a hardship.
You want to get over the threshold for, the IRS says, You know What, Your uncollectable, based on, you know, our matrix of how we make that decision. And, So we're not going to expect you to pay anything.
That's what I would like to get to, if I can't recover what they've already taken. I can at least, maybe get to that. And if not, I can get to a payment that's invisible to you.
Right. Do you think, do you think they will refund the Social Security that they took?
Yeah, I would ask for that. We're gonna get to that that day soon.
Yeah, because this is getting scary between Caleb and Brown, and look at it like this.
I mean, anybody who has social security now if you're relying on that, you just got about 30% of it stolen.
In the last four months, you know, no, ayats, oh, Because the inflation just, there is no one third inflation.
What's the value?
And gas goes from two or $3 a gallon to five in a week.
You guys still call that inflation.
You're being polite, I'm going to call it racketeering, OK, I might even decide, Yes, I will call the toolkit, because there's a lot more going on with that.
It's kind of the food supply, the processing, yes, this destroy the weather. So you can't, Yeah, OK.
It's yes, It's an aspect of genes.
Getting started. But it's OK.
So for, for LLCs that have it's like a human being, as a person, a person, some individual now, I use that term, OK, Diarist sees us as individuals, They cannot CSS people.
We don't exist as people, we exist as what we do as individuals, OK, If an individual does not file a tax return ever, the IRS will not see that individual as an individual. It will not.
It doesn't look, it's like the board. You ever watch Star Trek mm beam onto the Borg Cube.
And they're standing there with their rifles. And as long as they don't try to attack the board, the board won't walk right past them.
That's how the irises mm, OK.
So, as long as a person, an individual hasn't filed a return, that includes an LLC, so when I get a client or situation, I can, I can start new, because I can't change the clients relation with the IRS. Like as far as being an individual, they see them.
Typically, so I can create a whole new person that has a whole new tax treatment from the beginning.
And as long as that person that LLC doesn't follow return, it will never need to file a return.
If it falls or return after so many years of not falling return, you got big trouble.
Yeah, I'm not saying you broke the law. What I'm saying is the IRS will impose penalties for not having filed the years before.
Millimeter, I don't know why I'm, I've never tried to fight that case. I'm sure you could probably There's an argument there.
But so an LLC that hasn't filed never has to file.
If you have other LLCs that are filing returns, and you set up another new LLC that doesn't file, no problem.
If you're other LLCs are filing returns, and then you take that cash flow and put it into your new LLC that doesn't file, that is not a problem. You just have to be careful how you are doing it. So I can't just say that what you do, but I just think there are some times where you have to be cautious.
You don't want to make it look like you're just no, let's call it hiding money or something. Right.
But you can use an LLC or an individual that's not filing returns as an, a pass through.
And as long as it keeps on doing that, you're going to be fine. If an LLC files returns and then it stop smiling, that's another problem.
First, my first LLC, so it's not filing enemy don't ever. Yeah, it makes these are, and if it does file, The only way to get out from under that, if it's, Let's say you're going out of business or you want to convert your business to some other structure.
You need to move all the assets out, all the cash flow out of that business and then you would file articles of disillusion with the state.
That's the only way to get out of the falling expectations.
You have to dissolve it on the record, on that situation.
OK, so that the answers uvula And we can talk more about that too, so I want to give you some notes on that. What else?
I was Tony. I was looking at what was it and telling us and things like that, so?
And Let's see straight. did you want yeah, OK. So that's really interesting.
So I have yet to actually have to file so At what point would I have to as an individual I mean, we have what file right?
Just file taxes, I get 1040. Yeah.
Well, um, if you filed before I haven't you have you ever felt to actually spend your life?
No, even when you're 16. 17 to my knowledge and my mother. No, I haven't Sheets, you, John, she only works for me, and I've never filed taxes, OK.
So, all right, is this a bad situation, always reluctant to answer the question, like what I'm about to answer.
Well, just one I haven't made enough to file. You're like my children. My children, I have five children, they don't follow, they'll never file.
I mean, I think they'll never file, they don't have SSNs either.
But that's OK, all right.
So, if you have never filed a tax return, 1040, in fact, don't ever file.
You'll be just fine, and that includes, and you're all going to be jealous if you get a 1099 in your name, So what?
If you sign a W four and get a W two as an employee, so what?
You're never going to have a problem with the IRS even though they will take your money. They're going to withhold. You'll never see that again as long as you don't follow him 40. You'll never be harassed about filing at 10 40. You'll never be an issue.
Thank goodness, I thought so, I was really trying to avoid that kind of stuff and I thought, maybe one day I'd catch up to me but maybe it worked out, you're not doing anything wrong. You're not escaping anything.
You just didn't create a liability for yourself. That's all it is.
Now, for me, I felt I think I fell nine returns in my lifetime, So, I think, I don't know, probably, when I was, when I was in high school or something, I don't know when, But, uh, yeah, nine, and then I stopped, and I stopped when we were even, you know, square, They didn't know me, I didn't know them.
And then, I never got W twos tonight, guys, and if I ever do in the future, and it's connected to my SSN and name, I'm going to have questions from the IRS and they're gonna write me a letter and say, hey, where are you? So, you are able to get rid of that after he had already filed like, those nine times because you got rid of your SSN, or you don't use it anymore?
No, no, no, no, no, the way you get out of filing is you stop falling, but you have to, going forward, you have to make sure that you're not gonna get a W nine or something, or a W nine, but a 1099 or W two, OK, you have to make sure that you don't have any income reports in your name with your SSN.
And as a matter of, like, my preference, I choose not to use an SSN, my parents got me one. I think when I was 13 or 12, and I don't use it anymore. I haven't used it since, gosh in the early nineties.
Since I started filing, I stopped using that to, just because there's no need for it, There's really no need for it.
OK, Well, Thank you!
Well, you're a pretty good situation. You're probably, I'm going to say, probably the seventh person.
I've spoken to, It's never file a tax return. I did get like, I mean, this past, my, Mom was before, we had senior information, and stuff kinda went to do it. And I was like, Oh, God, I don't want to do this. That's great. Yeah. I didn't make enough. And so, I don't know.
If we just, I don't know if it was just sent, that I didn't make enough, or I just didn't continue. I did. I told you, not to, OK, Nice. Yeah, nice. I remember when I had, I was fine tuned forties.
I was a cashier at the grocery store way back when I was in high school, and I had also a business.
It was landscaping and I was you know out there making money on that, and I just I didn't include that money because there was no There is no 109900 W 2 So it wasn't like I was like yes, I'm quite doing get away with it. I just was too lazy to do it, right? Yeah. I thought the beds are going to arrest me any any moment you know and then I forgot you know, because I'm a kid. I forgot after a bio. I'm like, oh, It's OK. It's after a few years then I started learning about this stuff. I learned early.
You know when I was in early in college Learn OK, I should have been doing that anyways. Yeah, that if they're gonna come get me they can get all $10 a day. Exactly. Yeah, they're not gonna. know, I've talked to so many people that we just did horrible things.
I mean I shouldn't say horrible but like they were just really tax protesters your classic tax protest and all really the IRS wants to do is either get your money, take your stuff and or punish you right. That's it, Again, there are people like anybody else, you know, there are people at the IRS that want to hurt you.
Or, or they just want more money, they don't want to put you in jail, unless you're famous, like Wesley?
Well, thank you, I appreciate, OK.
Courage, you get another.
Yeah. What would happen to a LLC if it never filed at 10 65 and also never paid any taxable income to any of its partners, or never had any employees?
I don't know.
Nothing happens. It's just a company.
It's just a company and it could. It could receive money.
As long as it doesn't file a return, it's not gonna have a tax liability.
OK, as long as it's treated as a pass through and it is a pastor. It's a pass through. if you don't claim a tax liability on its income.
That's I guess the definition of Unsettled funds are pass through.
OK, that's how I classify me. That's how it works.
If you go and look at reverse engineer how the IRS operates.
That's what it looks like. Now. you're not going to find some. People has asked me what statute says, that there isn't one. That's just how it works.
So, yeah, you can have an LLC that owns a billion dollars worth of real estate and makes a billion dollars a month, and it doesn't. It's never gonna have a tax liability if it doesn't claim a return.
And then the tax liability that paid an employee or something like that.
You can pay an employee but be careful about that because here's the thing you can have it unsettled funds in an LLC that's a pass through, and you can pay someone who's a real employee, let's say, You own a coffee shop, and the employee comes in, opens up in the morning and serves coffee. That's an employee.
Right. That's the definition. And Deploy, he has a schedule and all this stuff. And you're paying wages. But you can just write them a check and not do a W four and a W two. And that's good. But if the employee files a workman's comp claim or something or wants to make a case of it, you're gonna get in trouble.
There has the IRS to get it or the state is going to be the state.
The state and or the IRS is going to get involved and say, hey, you're you owe us for these back periods where you didn't collect wage.
No wage withholding.
Even even though you didn't do a W four, they're gonna like reverse engineer that whole period.
Wow. So if you do have employees.
If you can't avoid it, you can't avoid that. Classification. But yeah, if it's just, it can do anything, as long as it doesn't filing the return creates a liability.
That's why.
Like if you get into the state. If you're a brick and mortar business, right, and you have a state license or whatever, and you're running a coffee shop, let's say, you're going to have to have employees to do this. You can outsource them, but it's a real pain in that situation.
But that's why the state has all this workmen's compensation and the insurance and it all kind of it locks everything in together so that you have no choice, but to file a tax return. It just works out that way.
So that's why I say, if it's an S corp, fine, Just file the return. Don't try to get out of that system. If you want to get out of that, you have to dissolve the company, but you have to get rid of your employees. And I'm not saying fire everybody. I'm saying you have to change how you have employees. And the way you do that is use a third party to lease back the employees from.
So, that's a little more of a project, but yeah, you can just have a dumb LLC. I call it dumb, LLC, doesn't do anything.
OK, all right, thank you.
I do have a question, if nobody's got one.
OK. Let's say I succeed in getting my residency established and Caleb and Brown, and I succeed in getting out of Oklahoma Bank established. And I need to pay my credit card bill. So.
Would I be able to transfer money from Caleb and grow the cash that I had there that LLC to the bank and Oklahoma and go to an ATM and get cash out to pay the credit card bill. That's what you want to be able to do the Senate though, to the account holder. So make sure it's in your LLC all the way around. Exactly. That's what you want to get to.
OK, OK, have I think I have one last question. Who do you give you, W 9, 2 for third parties? I know the bank, of course, but do you do that for Canada and Brown, as well?
Or who know they don't care, know, it doesn't, it's not what you want to do. It's for parties Third parties that their payers that may have a tendency to issue a 1099, That's the only reason you do it.
So what you're doing is you're you're transferring the liability of an incorrect 10, 99.
So if you give a W nine or penalty of perjury, you're also eliminating the backup withholding issue, which I think I have a video. That explains that. You can imagine anybody that's going to be a US company.
Oh, so, US company? So, that would be like the third party used to lease out your employees.
Yeah, anybody who would, well, you're gonna, you're going to pay them money.
So, the W naught is not necessary but the W nine goes to your bank, A W nine goes to any company that might issue a 1099.
And the reason being is that you want the third party, the bank. Let's say, to make sure that the account holder, the LLC, that you've gone to all the trouble is set up.
That the bank correctly reports the 1099 to the LLC with its EIN, does not take the seiners like your SSN and put that as the tax number for the LLC.
I've seen that happen, so that was way back in the late nineties. At that point, I said, Look, guys, look from now on, let's just do a W nine. Debbie nine as another purpose and that helps avoid backup withholding.
OK, so it's really the thing that doesn't make any questions, I'm glad. What it does is. It, I'll tell you that backup withholding is a mean trick.
If the IRS wanted to really get us, they would use that. They already have it set up.
So baca withholding is this.
Um, DACA withholding will not happen as long as the EIN is verified on the W nine. That's why I use it. So if backup withholding here's how it works. So let's say you got your pass through and you got your cash flow, and everything's good.
And so it can come from the bank, it probably would come from the IRS. The IRS would contact the bank.
Not that the irises watching banks. They don't do that.
Then send us that, just say to the IRS context, the bank, it says, hey, um, what records do you have for this account holder, LLC, what error now? They are not going to do this for companies that don't file tax returns. I'm just giving you a hypothetical, here's how it would play out.
So ultimately the bank would send you a notice and say something like, Hey, we're going to your account maybe subject back or withholding unless you can verify the EIN. That's typically how it goes, or it might be something like if you look at the W nine, you'll see there's you're certifying that.
There's no interest or dividend payments from previous obligations, well, there wouldn't be because your LLC is not filing right?
So backup withholding tells the bank to hold 30% typically of whatever money is there or whatever money you would receive.
They interfere with that cash flow and take 30%.
Now, guess how to get that money back?
This is all the company.
No. No.
You'd have to file a tax return. Oh, yeah.
So, so I've done this for 30 years.
It's thousands of people, right?
Not one person has ever had that situation. So don't worry. I don't think they can do it. And I've analyzed this and analyze this, especially since 20 17, because that was my first thought with crypto says, like, oh, shoot, they might use back withholding and just totally annihilate. Everybody make everybody file returns. And they haven't done that. And I think, for some reason, they cannot do that.
I'm not sure I've tried to find in the Internal Revenue Manual. And everything. But it's been going on long enough to where I think they have other schemes going. So I wouldn't worry about it, but I'm always like to be cautious. So that's why I always tell you guys to do a W nine, do it when there's going to be a third party payor that collects your EIN or the I'm sorry, The LLC's EIN.
Use that W not.
Oh, young. Yes. This is Julia here.
Yeah, I just wanted to make a comment here.
About stable coins.
Yeah, and I think stable coins, right now have high and higher risk than before, because those who follow if you emerge, is going to be on September 15, you is going to be proof of stake.
Changing the mechanism of proof of work is going to improve stakes.
So you need to be You need if you need to be staked to verify transactions on the network.
And, you know, a major stable coin right now is use DC, which is, majority of those are on the Ethereum. It's multiple Blockchains, but, yeah, people storytelling on Ethereum Blockchain, because this theorem is more secure, OK. Blockchain, right now.
And, And another risk that, you know, that's the number one risk that those use. You see that on the helium blockchain, so we don't know how the merge go.
You'll go.
And another thing that you use, you see is owned by circle, and I think the they're gonna implement KYC KYC system. They will, they'll have a circle, the website, the website, you can actually buy USD see directly from from the website and Nick when they acquire KYC. But if you go to, Well, if you buy it, if you buying from exchanges twice Q by C two.
But, you know, if you if you buy the crypto you don't, you can buy without KYC.
Yeah, that's good to know. I appreciate saying that.
Yeah, I don't I don't know.
I mean, I got out Over the last year or so I was lucky to get out to take profits.
And then I got out of the stable coin because I started having a suspicious feeling that That's not really so stable, and I just went into the next The next version of a stable coin, which is gold Literally like gold. I have in my hand.
You know, so I'm out With That with a few exceptions I have some coins. And I'm holding it, But yeah, I mean, if you guys want to get out you're probably your best stable coin.
It's going to literally be gold coins Probably they charge charge extra for or if you buy the physical goals versus Papers versus paper goals and it's hard if you will find something happens you gotta take it with you And It's part I don't like about golf Because I'm thinking about golf and just to just You know it's not like BTC crypto you can take with you on this USB stick just to you, and that's It's kinda I think that's why they got they had ...
because that was a great vehicle to get into gold with That provided people an exit.
Well, it's pumps gold, which is now same as its, you know, Siemens, do you just don't go, but it's on the blockchain.
Yeah, I'm not sure, I'm not sure about that one.
Because it seems like, you know?
Yeah, I just think they're going to do some nasty stuff. I think the whole idea behind the blockchain was to move the accounting practice of the IRS. Over to the blockchain and make our entire monetary system on the blockchain, and still call it the dollar.
We've done this several times.
We did this in 71 and 2001, I guess, when they took it up gold or silver and then they put us on the oil. No. So, they've changed our monetary system, but they keep on calling it the dollar, but it is.
We don't have the same monetary system we did, but there.
There are different blockchains. I mean, what the central bank digital currencies is going to be something completely different than anything like that.
It will be its own blockchain, but what I'm saying is, will be forced they're going to try to force us to use that blockchain and they won't be interchangeable with other blockchain based currency. So, if you want to trade with people, you're probably gonna have to it's gonna look like people that are using Monero right now.
or, cash. I mean, pretty much cash is going to be illegal pretty soon.
So, But, yeah, that the technology can help us, But I think we're going to be are going to try to force us to use it. I mean, I think the easiest way to do it is because everyone's got his phone all day, and just put the phone in there. They're doing this all day long, and they're driving cars, and they're walking around, I can't stand. People are walking around with the phone carrying it, like this.
I mean, if I'm the government, and I want to watch everybody, that's the way. Yeah, what if they wrote a law that says from now on, everyone has to go get one of these devices. You have to pay for it yourself, and you have to carry it wherever you go.
Nobody would do it.
But if you make it fun and entertaining, they're going to do it. And so, anyways, not to get off on a tangent but yeah. It's good to make that note about the KYC that may be imposed on stable currency, stable coins, and I would recommend getting out in precious metals that you can put in your hand.
Yeah, you can get back in later.
Do you think it's less visible to buy gold with kryptos?
I don't even, it depends on who you're buying it from.
And I mean, you can buy, there are some Vault, services exchanges, you can buy, you can buy gold or Silver, Platinum, or whatever with Kryptos, I think Bitcoin, typically, you have to shop around for them, but who cares? Who cares how you're buying something. It doesn't matter if everybody gets to say, Well, I'm just asking whether the IRS can see it.
Um, yeah. I mean, they could do a summons, an audit summons, a third party audit someone's that would be the fastest, easiest way. But then something would have to give the IRS cause to do that.
And then, I've funny story, I've had clients where they've done, like, for example, I'm trying to work to deal with the IRS, and the client has like three boats in his backyard.
So, why that makes it difficult for me is, now my clients got exaggerated living expenses and how am I going to, how many going to negotiate thing is creating a hardship because I was gonna say, sell your boat.
I mean, I've had clients where The IRS said, hey, you got 20,000 line of credit on your credit card. You could use that to pay us. We take credit cards and there's no limit with these creatures.
So, we had a situation one time where the lady had solar boat, it was, she got $30,000 in cash, and she spent it on whatever, I don't know. Then we're going to a meeting with the IRS like the next week. She said, I did this thing now, like I said, Oh man. So here's what you do with a straight face.
When the agent asked you about the $30,000, say, I said, all you have to do is confirm that he's correct. And then shut up. And don't say anything else. You don't have to say anything else.
Say, yeah, you're right, I sold the boat, and I've put the $30,000 in the bank, then you're going to say it's not there anymore, and you can say, think, you're right, don't say anything else, right?
Because, and the logic behind that is, for all the IRS knows you had other creditors that you prefer to pay or had to pay before the IRS.
So, that's the serious side of it. But the reason why I say it that way, CRA to alleviate their stress a little bit because it is kinda funny. Kind of sit there with a straight face and say, Yeah, I had a 30 year last week, but I don't have it now. Can you make a deal with me.
All right. Oh, my gosh. So, just keep that in mind. It doesn't matter how you're acquiring something, and, yeah, they can see those transactions are pretty powerful.
With an audit summons, they can do.
The IRS can do a third party audit summons.
They might send you a copy if they're inclined.
They won't even audit you. They won't call you in for an audit. They'll send it to everybody that they see you're interacting with, right? And if you buy gold, with crypto from whatever, the crypto, I don't know that that would be on their radar.
That's what I'm asking, the banking institutions would allow them to do that?
Now, in the near future, maybe, that would be, that would be, so, But, yeah, let's say they could, let's just say, yeah, they can see everything, right? So, they could go all around you and and they can track everything where there's an SSN and things like that.
And then, they could can make their own conclusions, never call you on the phone, and send you an examination changes notice.
With an examination changes, do you want to see this, the form that they use is form 4549.
And this is the result of an audit.
Now, everyone sees, they think of an audit, like in the movies, you know, you go in there, and your attorneys there, and it's stressful. It doesn't have to be like that.
Most audits are done by someone just looking through a bunch of paper records and then they send you a bill.
If you underpaid or something like that, or if you made a wrong deduction or something like that, well, you know, I guess I got this one.
Crypto is called Bit Torrent.
I have that it's that their cost right now is like 0, 0 0 0, 9, and Jay, he has a target of like 300 ths of a penny or something like that. Wow.
That's a huge increase, as a huge increase. And I have two point three billion of them, because they're so cheap. All right, and if I get lucky, I go by the IRS, or Yeah, exactly, that's what I'll do. It is by the IRS, right? Yeah, so.
Yeah, so that, I don't know if, I don't wanna get off on a tangent but probably did already, but they have a lot of power. The Iris can look at stuff. So that's why I like to just recommend the way the way I do things. It's just that, it doesn't matter if they see it.
And as far as going, when you heal, you're asking me about the company. If your LLC files a return and you don't like that situation, I mean an LLC that you're intending uses a pass through or holding company, it doesn't need to file a return.
I don't care what for what other reason you're using for it for that. It doesn't need to find it.
But if it files, and you decide that that's not really what you want to do, the only way out of that is to dissolve the company and do another LLC.
Because if you don't dissolve the company, and you just start filing big problems, that's that's even worse than, you know, 10 forty's pound, John Allen?
John? You said, you mentioned about if you gift, you're getting, you know, gold, right? You said, It's easy to go back in.
If you go back here and if you have a, like, physical gold is going to be harder versus if you buy gold with krypton it's easy, Right? But if you're going back in the crypto musical go, how do you do that? It's just, OK, I have, my, my way of doing it, and I've been doing it this way for years is, I have my precious metals and I have personnel just because I don't have a place to put cash.
And then when I find a place to put the cash, I literally place an order to sell it back to the people I bought it from, usually at Max or whoever, and I package it up, send it by registered mail.
It's managed by registered mail. So when I do it, it's going to be a large amount, and it's annoying, it takes all day.
And I pack it up and send it to him, and then I get a wire transfer.
And then I send them money where I needed to go to. And so there's, you know, some costs there, but that's how I do it.
Yeah, they don't. They don't. They encrypt the right. Things, stable coins, or something. I actually prefer the wire transfer Cash but some would if I if I wanted to find those people.
Sure, I mean, the slower way, as I could just talk to, people that I can work with, I mean, I know a lot of people, I could probably work that deal if I, if I looked around.
The other thing is, on ...
news, you know, he has, he set up an exchange and so we are able to convert coins to dollars and back and forth.
And we could do large volume like, we can do millions of dollars a day per client.
In crypto to cash or back and forth. And even precious metals, which exchange, it's not exactly what you see, right. It's all private. We know. You only know about it from me. So, if you want, I mean, it's like, Yeah, it's like, What do you see, right?
When you do like to someone, it's all GC. Exactly, right?
We don't. We don't advertize.
It's actually just a very constrained group of people, it's only people that you like us, our clients and our members, and things like that.
We don't try to. We're not trying to make might we do make money at it, by the way, but we're not trying to like marketed as being a Big Commerce, because we will get shut down. It's all illegal. But you can use it for yourself, basically, and for the oh yeah, that's what I do. I don't use Coinbase. I, if I have cash, I literally wire it.
Or it's going to be a coin, and then I send it, and I get dollars.
Or the nice thing is, I can send coins in, and then the exchange will send the money wherever I tell it and there's no 10, 99 mm, hm.
It's very cool.
Yeah, keep that in mind.
Sorry, I'm, sorry, I, just, so so, there's no 10 99, even, if it's right. Millions of dollars, exactly. We set that up so we can do that. It's all legal. There's even licensing involved, we have an attorney involved. Not to say that makes it better, but DJ went through all that process.
And it took them awhile about six months to set all that up because for years, I have been saying oh, it's easy. You can use Escrow and all this and people are like OK John, so where can I find an escrow agent that can convert my coins. I was like, I don't know. It's true! In the meantime V.g.s. over there saying get up and he goes hey John, I got this thing and I'm like oh great, thank you now can refer people over there.
Because I didn't expect that it would be a difficult thing for an escrow agent, you know they look at you like you're from Mars hey can you convert my coins into delta Y?
What's that?
So as of now, we're the only ones that can do that, like we can convert $75 million worth of coins or precious metals per day per client.
I hope I will have need of your services. All right. All right.
I want to go back to that and good question. So, when you buy gold, you pay extra.
Because the musical: then humans sit when you were selling, let us say the price, price of the gold change and you're selling back to the same. Either way.
Yeah, you're losing money.
You mean like you will love doing business.
Yes, Some preset to be smarter about that transaction.
Kippy like your regular consumer that gambles on the stock market and he's just changing his mind every day.
You gotta buy an asset for its value and hold it.
I haven't.
Yeah, but did we know the best? The best case, scenario?
You, will, you will, So at the breakeven point, Yeah, I could just tell you, OK. And I'm not as smart personally. I'm not like, JJ can really play that, the trends. He knows all, I kinda, I don't know any of that stuff. But I can tell you from, like, I haven't been doing it that way for 30 years. It took me a while to learn, so I'd say, 20, 25 years, and I've at least broken even on precious metals.
I'd probably made a little teeny tiny bit, but I've never lost money in the long run on a long term average.
And all that means is, I'm able to take some cash, put it somewhere, then not lose value on the cash, preserve my value until I get into something else. And that's how I'm doing it for. Now, at first, in the early days, I was like, oh, this is all shiny and pretty. I'm gonna, I'm gonna make a lot of money on it. Was buying it. Thank you, want to make a lot of money. And then I realized they're never going to let me make any money on this because I'm not taking a $100 million and it changes in a fraction of a penny and I have an automated system that makes me $37 million or whatever. You know, that afternoon. There are people that do that. That's not me. And then I realized that I was like, OK, fine. I'll use it for what is intended for. I don't know what to do with my cash. It's Veteran Gold, and yeah, there's a cost there. And it's justified by what I'm gonna do with it.
So, I have a deliberate purpose, and I hope I didn't make a mistake. So, if I, if I sell something for $150,000, or it gets some gap cash that is sitting there, I'm going to put it in. And, in some gold bars, right, a few kilobytes. And then I'm gonna, hopefully, within a few months, I'm going to be able to sell it, because I have the smoking deal that's gonna pay me 20% a month.
Or whatever. It's a joint venture, right?
OK, huh, You will, you will be earning yield.
Yeah, I hope I'm going to earn some money on that cash, but in the meantime, if I don't know what I'm gonna do, if I am not going to use that cash, it's on fire. That's how I look at it. So if it's if it's 10 grand, I'm a lead at my vault. If it's 150 for me, I don't have a net worth is $100 million for me. 150 means something, so I will put that into gold or silver.
And then I'm I'm eagerly looking for the next thing to get into, or if I don't know like I have friends I can call up and say, hey, can I, can I put some money into some real estate deals? And there? They can do that for me that I can I can give them $50,000 now.
They'll roll it around and do what they do, and I ask them next year, how much is it worth?
You know, it'll be worth a lot more just like these without anything.
Yeah. Oh, yeah. I mean, we have contracts, and stuff like that. But, I mean, I've been working with these guys for years, so I don't have any problem.
I mean, I'd say, for the given, my grandmother, you know, it's always a risk, I mean, who knows what's going to happen. But I mean, you want to know people that you can put money in with them, that they're already making money, and if they had more money, they can make some money, and so you want to split it with them. So if I put a 50 grand with these guys, I mean, a lot of them will will give me 60,000 back in three months.
So you're limiting basically your risks when you if you even if you even if you get 50 K, your, you know? is a habit because, you know, I started with 150, and I said, I'm willing to put 50 in a real estate, right? Because that's how I think. So Building, in the worst case scenario, you are willing to lose everything.
Yeah, that's that's the interesting thing. So what is your risk tolerance, right? What is what is your exposure? What do you, what are you able? What are you able and what can you stomach? What can you what can you lose without losing sleep at night, right? Same way in crypto. Like we put if you put the money, are you willing to lose?
Don't put more than you're willing to lose. Totally decreased. So does anything. So I look at places to put money, where it's going to be.
I like to be a social entrepreneur. I like to do something with.
Then I went to look back and go, cool I did this thing.
No, talk to my children about it. I don't care about just making money roll around and yeah, OK, I made more money.
And so, my risk tolerance, because the way I do things generally on an isolated deal, if I have 150 over here and I take 50 and 50,000 is not a lot of money.
It's 100% because I'm OK with that.
But I'm not intending to lose money. I'm going to do everything I can to make some money on that.
But if I lose it, yeah, kanaka lose sleep at night.
I'll tell my wife either.
She gets upset over everything.
But, uh, one time I took her Bitcoin money, shall, I forget what it was like $4500, this is like five years ago, It was just sitting there, you know, and I said, hey, I'm gonna, I'm gonna use your Bitcoin. She goes, No, no, don't say it's only 4500, she goes, No, that's mine. And I said, OK, you're right, so I took it, I found this deal is a joint venture, OK. Now, it took about three months and I like tripled it.
Oh, I put it all back to Clear it, I was like, hey, hi, check your credit card, and she's like, hey, what others might come from?
Oh, I spent it, But I got back She didn't say anything Maybe you can do more money for me as well.
If You can do that, OK, we can do that If you, if you want to do something like that, all right?
It would be fun.
Give me five hours, OK? of discussion, back, and forth.
So come up with something I'll let you come up with something.
I mean, I don't know much about traditional business. I just know about crypto, and I don't know about business and OK, sometimes you just You just have some brainstorming, right? And So the question is, you have to ask out loud. You have to say, how can I make $20,000 more by the end of this year?
No, Seriously, so. We got September, October, November, December, so $20,000, what going to be five grand a month?
Can I do that math right, so how can I make $20,000 more this year than I am expecting today?
And so what's where's 20 coming from?
I don't know, but I already have three ideas and, and I can just probably make some phone calls and maybe do that, and you'd be surprised. Once you start doing that, you'll know that you can do that.
You can drive in entered town on your way to get a burger, OK. And you can see several opportunities once you start looking for things like that.
Yeah, I don't want to risk?
You know, with little money, at least, and I put money if she has staked on the platform that these 40 about 40% eight annual valuable points. That's That's pretty good. But in my opinion, that's too high.
Because that's what happened. A voyageur got these high returns and then what?
So are they real, you know.
But anyways, the audience and everything and, yeah, well, you want Celia, but still it's too.
I've looked like 20% total portfolio there. So just, you know, there's a lot, but you'll want to risk. You want to take a risk.
You want to reach guests.
Yeah, you have to make take a risk to make more money. But but what you can do instead of, let's say you don't have any money, let's say, $1. Let's say I have enough money to make a phone call, right? You can call somebody up and you can come up with an idea and you can raise the money in that idea.
And so, I mean, there's money out there, OK? And let's say you need $2000 in order to make $50,000. And you don't have $2000, you can get somebody else's $2000 and what's in it for him, 10?
How's he gonna get 10? Well, I write that into the deal and hopefully I'm right and it sounds good.
And when I pitch him, if he agrees, then I sold him on the idea and I'm betting on myself and I'm betting on the deal. And hopefully it works. And lots of times it does, sometimes it does not work.
So, but if you do that frequently, let's say you do that once every three months, I mean, after a couple of times and you live, you risk no more than $2000. You're gonna make money.
My dad was, he would uh these guys, my dad and his friends are like they can't do anything except ride a motorcycle, OK. They're not even in any kind of fitness, whatever.
So there's, my dad's friend is sitting there you guys like 68 years old? and they're drinking coffee at Harley Davidson in the morning and he's on his phone and my dad's like, Hey, what are you doing?
He's like, Oh, man, I just made $7000, I was like, What are you doing? He goes, Oh, I just buy cars, and I just lowball people until they give in and sell me the car. And then I flip and I'm going to put the car in. My name and I just flip it, and this guy has made this up himself and all he does is go pick up the car and then sell it to somebody else.
It's a fair price And usually it's under market, but he bought are underway under market, and so, you know, he made like three or $4000 per deal and that was a hobby mm.
I would love to hear more about that, kind of thinking There's so many things you can do.
I tell my children's stuff, and they're like, Oh, OK, So far, they haven't done it yet, Everybody's the same.
We have our like, if you're comfortable, you're pretty much You're gonna be like, That Toad, my top sales guy would always say, that's a toad, the toad doesn't move it to your .... But if you're comfortable, it's hard to get out of that comfort zone And, you know, but if you're starving, if you know you can't pay the rent next month.
Yeah. That Gary Vee was, he was back in the day, she was talking about flipping things on e-bay, like ..., Physical collectibles, and and some flows on the Internet. Like Greg, Rare clothes, They try that, and it didn't.
What It's worth, you know? It work and make some money, but it just the time I spend, it wasn't worth it.
How much money I made? Sure, just sounds like. Yeah.
Sometimes you find your niche, and sometimes somebody did a great job at it. You try to do, and it doesn't work. one of my clients have been, Well, he's a friend of mine that up in Illinois, he's been, I've followed his career for like 15 years, 16, 17 years. And so, he and I are like entrepreneurs, and we just call each other. Hey, guess what I did Today? You know, So, I don't know. He is probably a millionaire. And He's just works like 10 hours a day. and he loves it. And What He does is, he's literally programs, keys for cars. He's like a locksmith, but not so, he knows how to program all the electric keys.
like, Phil, Tell me how you do that. I don't want to do it, I want my children to do on my wife to do something, you know, something different.
And he says, I can I can make about $5000 in one day.
Because there's so many people that need their keys replace, you'd be shocked, he goes, he says, he goes into places where there's fleets like UPS or car lots or whatever. And he goes, there's like 3 or 4 or 5 or 15 cars that need to be retooled. He says, I can do in 15 minutes per car.
And he makes a few hundred bucks each time. And now that's a professional service you actually have to do that, you know, go there and do that. And but look, he's making way more money than he needs, we can do with that money.
I'm not saying, you know, That's what you want to do is get a new job, some of you know you don't want to do that But there's a gentleman one of my clients was told me this guy he knows he was he would go on the internet. He would find a business that's operating pretty well.
And he would offer to buy it And You know, it's it's like, Well, You know, you're gonna get turned out a lot right. It's like a sales. It's a sales offer. Can I buy your business? No.
And so you'll run into the one that says maybe with the right price it out, or the one you might hear. Yes, please buy. You know, whatever.
And what he would do is take an option to buy, to buy it at a fixed price.
And the and the seller would be totally happy. You say, Hey, no, risk, let's get on my back. Here, I'll sign the contract.
And if you don't sell it, it was nice knowing it.
So, maybe he has to give him a thousand dollars. Who knows?
But he would then sell it as a broker, but he wasn't the broker because he had an interest in it because he had the options contract.
So, he would flip the website, and he would sell it for what it was really worth, because the seller didn't know what it was worth.
And the seller was happy to get X dollars, So, you know, he paid the seller more or whatever you want it, but it was able to price out and value it properly, and he would make a lot of money with that.
I don't know if he's still doing it.
I mean, what kind of idea is that?
So, so these are the businesses that were online.
These are all, find A website that was doing well. He would go check out like Google and see what their traffic is, you know, and I'll analysis. And then he resize them up and then he would call it the owner, and you know, it's a numbers game. You just keep trying to get it. It says like anything else, I mean, let's say I wanted to buy some a strip mall and I only have, I mean, really, if I, if I buy a strip mall, I should have some, some funding behind me.
Because, even if it's already, once I have it, it's going to cost me money to get it going. It's going to cost me money to do something, I'm going to have to do something to it, OK.
So, if I get a contract to buy a strip mall, I need funding. So I'm gonna go solicit funds to buy the strip mall.
The problem right now that we have is the lender or my partner, or my future partner who I don't know, is going to ask me what I expect my tenants to be, because they're all getting, they're getting run out of town right now.
Look around at your commercial spaces, right? Pretty soon they're gonna be mowed down. We're already starting to see you right here in Orlando, on the on the eastern side, we're starting to see that they're being dug up.
Like, they're digging up the pavement and turning it over and so it's just dirt.
Wow. You just, you know, what happened during that, everything that, you know, businesses that suffered Very good words, Yes. You know, a separate, as well.
And that's the objective is to say you own a car wash and no one watches the car because like everyone seeing, seeing and home life and you have to payment to pay your own and it just Basically you're losing money and it's not very easy.
Yeah. Well the car washes here blown up. We got a lot a lot of car washes, nice, beautiful ones. Oh my gosh, I'm jealous. I'm gonna get a couple of you. Don't know what's happened to. Food is going to be lockdowns, giving Me No business! Like, possibly if people go along with this **** anymore, I don't know.
But anyways, it's fun to talk about that. But I like to just be specific.
So ask yourself, like, if I'm going to talk to somebody who needs funding, my first thought is, you're gonna get funding from a seller, or funding from a partner, or you're gonna get funding out of the deal you're doing.
Or you're gonna get funding, because you didn't realize something you had. So, I asked them, do you have any? Do you have a second car that you don't need they can do without to sell it?
You know I mean, it sounds stupid like, But that's what I, that's what I do.
So in other words, they didn't go into a bank and getting alone, never go to the bank. They never, I don't care.
I don't care what the banks do. I, I enjoy the way I do stuff.
It's fun, and so you'd be surprised a lot of people will have, Um, I would sell some gold I've done that before.
I sold my gold at a decent price and I went and started a new venture and they started making cash flow, and then I went bummer go back But Some different gold. You know, it goes back and forth.
But you can get money. It's all, it's laying around. I mean, you're driving around all day, you're walking around all day, and everybody around you has money. There's money moves around everywhere, and so, money is like air.
You just have to realize that and, and get some You can, you can do it.
Wow, This is such a different way of thinking to me. It's like, I really need to hear that starts with your attitude. It starts with how you believe, and I'm not like a super rich guy I'm not like you know multi-millionaire Like Robert. Kiyosaki. But I have more money than I need.
And I live very comfortably and I live in a small house. It's half the size of the house I used to live in and I'm perfectly fine here, houses a pain in the ****. I like them, but I'm OK here and I don't care and I'm just kinda like keeping my head down because I don't know what's going to happen.
I'm storing food and so I bought a bunch of land, I mean that land is going to become a business.
It's going to be it's going to be producing biomass to start with and we'll do some other things with it.
So, but yeah, I love this conversation is if you wanted to that if you wouldn't mind, it would be nice to make it somewhat of a tutorial.
We can we can put it I was going to ask if you're going to do if you would do that I would love there I would love them.
Yeah, stray, I know you've been waiting out there, I'm sorry. Yeah, no noise. It's important information, so, my dad had 1 last 2 questions. And, you know, he's kinda wondering if his letter of negotiate a resignation had stated that he was forced to resign due to, you know, everything that's going on at that time. Does it? Does that help at all? And I'm assuming, not because they didn't really put hands on him to push them out.
To fire him, you know, But just to resign.
And what was the reason, the pandemic less stuff they were enforcing him to do either square mask and I read the, I read the, know their position statement. I did not read the exhibit.
And they're saying that he was forced to resign because of the protocol. A coven ****.
It is.
His resignation letter stated that.
They said that to him.
What, what they know?
Whenever I, when I, when I resigned, I sent a letter stating that, I was being forced to resign due to that.
Mitigating factors, accommodations, you know, the dam forcing me to wear a mask and get a vaccine and so on and so forth.
Or I said, I because you are because you are requiring this, I, I cannot do it.
Therefore I'm being poor students, OK? That just makes it a really hard case to argue because they're going to key off of that and just say you volunteered.
There is a cause of action for what's known as constructive termination of employment, OK? And that's what that is. It's a construct of termination of employment.
And I don't want to take a chance on going down that path, And then it's just a hard case. It's not, it's not a clear case that you should have made a fire you. That's what I'm saying.
I'd rather not go down that path and throw that work into it, then then prevail over that issue, and then they use that case law case against us later.
I want to I want to clean case, because we have, we have, right now, a rare opportunity to present a case of first impression to the appeals court system or the Supreme Court.
And, I'm focused on that. So, we have like 40 of those good ones, 40, somewhere in there, 40 to 60. And any one of those can turn the whole system on its head.
In England, I found out, they were, they started arresting or accusing the health care workers of being an accessory to murder.
They shouldn't be doing doing yeah. Oh, yeah. That's why they pulled back all their ****.
Mean that with the room ... in the in the ventilators and then there's that. Yeah, but they stopped all their stuff, the mass scoring and all that just suddenly.
Yes, I remember saying that, It's like, hmm, hmm, hmm, hmm, hmm, what just happened. That's right, that's what happened. And so, we're at that point right now.
Where I'm just starting to write the pleadings to add to describe to the court that it's a case of first impression. Because every motion to dismiss this trying to argue against us is actually citing my other cases, citing my other cases. And they are set in cases that are similar, but the people didn't know what they were doing. Or they hire an attorney that totally trash the cases that nobody was doing it. They don't understand the ADA, or the proceeding under the third prong of the ADA, That requires the burden of proof on the plaintiff.
And so we're not doing that. We're not doing any of those things.
And so your cases good, taught up until Word, I resigned.
It doesn't matter how you got there, is an Americans with Disability Act, Yeah, the ADA, right.
So, so there's a cause of action or ADA, two counts, retaliation discrimination, and the other count I mentioned is wrongful termination, but in ...
case, what you're saying is that what you're describing is the constructive termination of your employment.
But by creating, by creating, um, an adverse health adverse, I'm sorry, adverse, and, what do you call it? Working conditions.
There's another word unbearable working conditions. And they're gonna come in there and say, How can it be unbearable when we're saving the world, OK?
So it's just going to go back and forth like that. You must be evil, if you don't want to go along with us.
So is there anything you can do? Like, is there anything he can do, or just wait for the case law to be made, I suppose, like to hold these specific people accountable.
No, I said, you know, you know, eight years ago with you, you know, I sent the Indemnification notice in yeah and and they said, Well, we can't sign it, and I said, OK, so you're telling me I am aware of, I have to wear a mask and get a vaccine, but you're not going to be responsible for it. You're not going to show me your insurance binder. You know, there's no duty of care, but exactly have to do it, what's wrong with this picture. So I went to the Board of education, I went to the superintendent. I said, What is wrong with you? People. You know, I mean, this has been going on for two years, and no.
You know, when, When, when, All, even whenever they said, I had to go back to work.
And I said, I'm not going to wear masks, I said, I will not do it, I won't do it, And they said, Well, you have to, and I say, you should have made a fire.
That said, I'm sorry. I know we can't go back.
But the other thing we could have done is just send, send a letter to the same people and say, Hey, I caught covert on on-site.
I was always at Work when I caught coven, and I need to make an insurance claim.
I know what's So funny is exactly what I did that, I've done that to several businesses on one business. I did it, too, was that?
With my, was that Health Club?
And Refitted, they will not, they will not return.
It, will not return my request for, for, for our incident, for an insurance form to fill up to claim to claim for the covert. I just can't stop fashioning your policy and I still got it. Yeah, yeah.
Yeah, I'm, I'm fighting everybody and, you know, I mean, there's some things, you know, the the people that have helped advocate for, and it has been fairly successful, you know, with the people that I've been helping and I think it's really help turn New Mexico around.
Because that one, Laura, I went head to head with, and you help me with a couple of, Couple of letters. He couldn't answer any of that good.
Well, there are things you can do. I mean, I just don't want to send us on that path, and you, and myself included to do all that work and don't have, isn't eichler case, but you can create a case and it's a school system, right? So, there isn't, there isn't exposure. They have, one is, there, they're receiving disaster relief funds, so they're actually, they're not so much acting in the public interest as they are qualifying for disaster relief funds, right.
They're also using public funds for something that's not, doesn't have budget approval, so you, what you could do, is ask for that, the public records, and find where there's been. Budget approval by whomever, approves the budget, is probably gonna be your state legislature, or the county, right. Whose budget is it, it's the, it's the school's budget, the county budget. Yeah.
So so get a copy the budget, you can easily get that, and then find out how that budget gets approved, and then find out if they have budget approval, to use public funds to protect everyone from like, deadly contagious disease, right?
Of course, they do, and they don't.
Then at the same time, go and ask Send a public records Request to the Department of Health and asked for and histological documentary evidence of any histological samples, or culture specimen, of identity contagious disease, known as what they're promoting! Sars cov two and ... I did that. You know what I did that. We don't have anything. So that's golden. So keep that, right. So you asked her documentary heads of the Department of Health of All agencies should have that evidence before they open their big trap and say there's an emergency.
Well, if you don't have proof of it, then there isn't one.
Yeah. Yeah, So that's, you know, that's Shouting Fire. When there's no fire. So then you would want to write a letter to the Medical Examiner's Office and ask what the statistics are on 220, 22,021, 2022, what your morbidity and mortality rates are. Those are public. Gregor anyways, but if you just wrote him a letter, they'll just probably send you a website link and it's already there unless you can find it yourself.
But if you can get an authenticated statement from the medical examiner's office for the county and for the state, you want any change in the standard deviation of the morbidity and mortality rates.
Millimeter period, that just the rates. It won't be specific to any condition in society, but yeah. So, so, there's that, but then you can you can pursue a case where you append documentary evidence to the school's records and the county's records.
There are official records. You don't like. when the, when the County board of supervisors has a meeting, or the public school board has a meeting, It's all public. And so people go there and they speak, because they want to get heard right on the record. Well, you don't have to go there to get on the record. You can actually send them a document. Have an appended to the record.
You can document these findings, like you've got this letter, right? And yeah.
You can document, for example. You can document you get the whole version of Their coven 19 Policy and then you can show in there that nowhere in the policy does it provide any accommodations for those with disabilities.
And so forth and so on.
I mean, you can pick it apart if you want to, without know, making a traditional ADA case. I've got another gentleman I'm creating something different for.
because we knew it was a retail case. And we're going to turn it into something else because they just whittled it down to nothingness.
So, We're going to try something else, but in your case, I would just do that. I would take my time. But I would just caution You want to just picking one path and just take it.
Don't try to go off and all these no different, directions. Yeah.
Well, I know the funny thing is when the I got those, all those documents.
I was reading what APS was claiming and they were collecting they actually made Made my case for me. Yeah, they do. Yeah. They were. They were they were saying, OK. Well, the Governor said that everybody should wear a mask on this date.
And, again, I was like, you're making my case for me, You know, explain all the dates.
Did all this stuff. And I was exactly, that's, that's exactly what I'm saying. They didn't know what they're doing is illegal. No, I don't even have to send a misstatement of facts.
You, guys, just, I know, go pull the Governor's Executive Order, Just pick one, want anyone, and look at the very last sentence, or the very last paragraph, and it will say in there that this order does not confer any new authority or obligation on the way. Are you serious?
Look at the President's Executive order. That's how I found it. They all have to say that because they're not legislators. They can create a legal duty with an Executive Order. It says, so, write any order. And it was funny, is a lot of these attorneys start starting exciting, the EEOC.
The EEOC has a bunch of garbage up on the website to cut to confuse this and make it there. They're, not, it's not a legal conclusion, but they say a bunch of stuff that's not even legally correct, and then it turns out, you see, EEOC says it, and they go, Oh, wow, it's on the EEOC's website. Let's scroll down to the bottom where it says Disclaimer.
We disclaim all liability for any medical advice or legal advice stated on this.
And this is not medical, OK.
So you're gonna quote that in a judicial proceeding: none of its real directions on a mast.
Yeah, let's talk about the disclaimer. Exactly, the disclaimer on that, too, Yeah. Gate, or you guys, go in what, I mean, what do you wear?
New Mexico! You have it. All this in New Mexico. Well, people are still running everywhere. Yeah. Bad. Yeah. It's almost worse in California. I mean, we are, we are really a socialist state. We just don't do anything or state. Doesn't do anything about it. Yeah.
I just, I want some justice to be done. These people, these people, they don't just need to be fired. They need to be thrown in jail for tyranny, I and so fed up with it.
And, Yeah, just like you said, this happens, This has happened over, and over again. Right? This is just another, It's just another scan denike. They've gone after.
Go after for disaster, froggy, misuse of Public Funds, you can do it.
It's documented, and make the proclamation. There is no evidence of an anti public health emergency.
Like your records, it was disaster fraud. That's one of them and disaster fraud, And, you're losing public funds for something that doesn't have budget approval, so, what's the definition of that?
That's the definition of, um, misuse of public funds.
Yeah. There's that.
And then you're disaster fraud You're you're only doing this so that you'll get paid How much if you've been pay well? Let's say let's go look it up.
We can find that too So so my next question is OK, so you make it no effect of public record.
We are I mean, everybody in government are socialists. So who's going to hold them?
Responsible do, do I go to a it's the Inspector General's office. And so one of the things you need to bring up and be concerned with is that the specter General's Office has an allocation from the disaster relief Funds as well. They're paying everyone to participate. So, you call them on it, to start with. Let's say you started the complaint.
In spite of the fact, the Inspector General is still expected to do his job, OK, cool.
So, there's no budget approval, and there's obvious public funds being spent on this nonsense.
So what is that?
OK, well, I mean, it's getting crazy.
I mean, I already, I wrote that letter that you had talked about, know, yes, you state that the Governor's, mentally unstable. Yeah, good.
munchausen, but I got, I got that organized and the funny thing is is a week after I got that together, my wife came home and said, oh, yeah, there was a person at my church that and ended up killing his wife and killing himself and the reason he did it was because he was exposed for being a hitman for the governor. And I'm like, oh my God, right Here you go.
You know, and sizing.
Yeah. So that's, that's where, well, you know, you don't, you don't go to the governor, you go after all opinions, and they all run away.
Like you just pick one county board of supervisors.
Pick one, then watch them all runaway.
Nobody wants to help them sell every man for himself, and then you take down one idiot, and as a message, just take this, is expendable, they all expendable?
And then you go to the AG's office and you say, hey, you know, you need to look at this.
This, this misuse of public funds, you know, and you can make way more noise, and have way more effect than if you sue on one case.
Yeah. You could probably help a lot of people at once. Just by taking those few things in run, run with them. and maybe you use the court for a few things.
like maybe you go to the court for declaratory relief, OK? Because you can declare the rights of the parties, right. I need, I need to learn those things.
But my, I mean, part of my frustration is, is, you know, we went, me, and my family went to go above, and we, we didn't wear masks and we were attacked.
And so, But, yeah, they're just don't, Yeah, and so, and it was on the people there, and so we held our own, that was fine, and then the people that were working there attacked us, and they started verbally assaulting us and I documented everything. Yeah, I use I use the statute's, I use that form sheet that I got from you.
You know, as far as looking up all the, you know, harassment and intimidation, I put that up, and I made my own my own police report, you know.
And when you have a situation, make sure you know who's responsible for the premises, because they're, they're responsible for protecting you. That is actually a legal duty.
They have not protecting people from a deadly virus if there is such a wise contact.
Yeah, I contacted the head, the head of the I think he's voting.
Forget, forget his title, but I contacted Nathan. I had met him before, and as well, and I wrote it all up, and I said, What are you guys going to do about this? And I want to know the names of these people that assaultive meet my family. You can you can find that out.
And he refused to do it.
And I said, Well, maybe I can do a Foyer, and then I talked to the Secretary of State and they dropped the ball, and then I asked, for a police report. You know, the police came over. I can use, I confronted the police about it. It's actually against the law to conceal your identity statute 30 22 to police officer, you know, wearing a mask. Why are you consuming from our community now?


1. The discussion began as an open Q&A session without a specific topic, with a recurring group of participants discussing various issues.
2. A participant shared concerns about Caleb and Brown, a crypto brokerage, and potential privacy issues related to their account verification.
3. They explored strategies for addressing these issues, including using notarized documents and other forms of identification to prove their residency and personal details.
4. Conversation moved towards managing assets, taxation, and setting up companies to manage risk, not just for filing tax returns. The distinction between companies handling cash flow and those holding assets like vehicles, vessels, or aircraft was emphasized.
5. A discussion on various financial strategies and tactics followed, including the avoidance of unnecessary tax returns, the purpose of LLCs, and how different corporate structures can be used to manage risk and assets.
6. A discussion about stablecoins and the risks associated with KYC (Know Your Customer) regulations was held. The group considered the shift from digital currencies to tangible assets such as precious metals.
7. They touched on IRS audits, with the majority conducted through the review of paper records and then followed by a bill if underpayment is detected.
8. Participants conversed about potential risks and strategies in the crypto market, as well as how to transfer from fiat to crypto without using popular platforms like Coinbase.
9. The group discussed the potential for generating revenue through joint ventures and investment opportunities.
10. The session concluded with more personal discussions, with participants considering various investment strategies, such as purchasing a strip mall or land for generating biomass, suggesting a tutorial on the topic for future discussions.

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