{"id":11606,"date":"2021-02-25T08:25:56","date_gmt":"2021-02-25T13:25:56","guid":{"rendered":"http:\/\/privacyfight.io\/?p=11606"},"modified":"2023-12-26T06:04:59","modified_gmt":"2023-12-26T11:04:59","slug":"u14-beginning-concepts-for-taking-profits-from-cryptos","status":"publish","type":"post","link":"https:\/\/privacyfight.io\/u14-beginning-concepts-for-taking-profits-from-cryptos\/","title":{"rendered":"U14 &#8211; Beginning Concepts for Taking Profits from Cryptos"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"11606\" class=\"elementor elementor-11606\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7dc1ef2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7dc1ef2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-70fad5b\" data-id=\"70fad5b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e3c049d elementor-widget elementor-widget-text-editor\" data-id=\"e3c049d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"vidseo_wrapper\" style=\"width: 100%;\">\r\n\r\n    \r\n    \r\n        <div class=\"vidseo_vimeo\">\r\n\r\n            <iframe title=\"vimeo-player\" src=\"https:\/\/player.vimeo.com\/video\/716131556\/?\" width=\"100%\" frameborder=\"0\" allowfullscreen><\/iframe>\r\n\r\n        <\/div>\r\n\r\n    \r\n    \r\n    <div class=\"vidseo_collapse\" style=\"\">\r\n        <div class=\"vidseo_btn\" style=\"\">\r\n            U14 \u2013 Beginning Concepts for Taking Profits from Cryptos\r\n0:01\r\nAll right, hi, everybody. I appreciate you joining us.\r\n0:05\r\nHe was kind enough to do this recording with me.\r\n0:07\r\nAnd we\u2019re going to cover what to do when it\u2019s time to take profits and specifically we\u2019re talking about crypto&#8230;        <\/div>\r\n        <div class=\"vidseo_collapse_content\" style=\"\">\r\n            <p>U14 \u2013 Beginning Concepts for Taking Profits from Cryptos<br \/>\n0:01<br \/>\nAll right, hi, everybody. I appreciate you joining us.<br \/>\n0:05<br \/>\nHe was kind enough to do this recording with me.<br \/>\n0:07<br \/>\nAnd we\u2019re going to cover what to do when it\u2019s time to take profits and specifically we\u2019re talking about cryptographic currency. I know a lot of people have these types of questions. So I want to cover some of the most important points.<br \/>\n0:18<br \/>\nAnd we\u2019ll do a pretty good job, I think, of coming into lots of detail.<br \/>\n0:23<br \/>\nSo you were asking about the question was, what do I do when I have enough profits? I\u2019ve made enough money?<br \/>\n0:29<br \/>\nI did my short-term, taking short-term profits. I went back into my kryptos, and I finally got the profit, the numbers that look good to me.<br \/>\n0:37<br \/>\nAnd, now I\u2019m back into my stable coin or whatever I did, so, my money\u2019s out of kryptos and it\u2019s just sitting there.<br \/>\n0:43<br \/>\nI\u2019ve taken my profits in the interim.<br \/>\n0:46<br \/>\nAnd now, I want to figure out how do I manage that large amount of windfall in something else besides kryptos or something else that will produce some cash flow that I describe that and about the right way?<br \/>\n0:59<br \/>\nAccurately. Yes. And on top of that, if I want to take some cash out, how do I do that? OK.<br \/>\n1:06<br \/>\nUnderstand that there\u2019s, in the United States, you can actually pay your credit card bill. And it\u2019s not subject to an audit summons by the IRS. That\u2019s what most people care about some. That\u2019s why I\u2019m saying it that way. Oh. Yeah, so, if you buy things with your credit card and then you pay for it, you\u2019re actually paying a personal debt. So, if you sold some crypto in your LLC, that\u2019s not going to be taxable but if you take money out of the LLC and pay yourself or pay off a personal debt, technically, that\u2019s taxable. No one\u2019s going to know about it though, unless you\u2019re subject to audit.<br \/>\n1:37<br \/>\nSo worst-case scenario, if you took money out of your LLC from selling kryptos, your LLC\u2019s told the kryptos, you got your cash, and then you bought yourself a car that a dollar amount would be in taxable income.<br \/>\n1:49<br \/>\nAgain, nobody would know unless you got audited. I don\u2019t recommend that people make that risk.<br \/>\n1:55<br \/>\nBut just the same, the reason why, the IRS would find out, is because all those records are subject to a summons.<br \/>\n2:03<br \/>\nCredit card statements are not, and the reason why is recently the IRS wanted to exclude credit card statements from allowing people to prove deductions. Instead, you stop that produced, the receipts for the items purchased, mm since. So because they did that the Congress said, OK, well if you\u2019re going to exclude those documents, then you can\u2019t summon them.<br \/>\n2:21<br \/>\nAnd the IRS said, OK, fine. So now we can use our credit cards, and those statements are not subject to audit.<br \/>\n2:27<br \/>\nMeaning that the IRS could not discover that you paid off a personal debt on credit cards with your LLC account, if you want to play it that way.<br \/>\n2:36<br \/>\nSo on that note, if we, if we do plan on taking the kashyap, how, how do we show it? How do we show that income is taxable? You declare it.<br \/>\n2:47<br \/>\nThere\u2019s no pain LLC, right? Well, no, you don\u2019t. You\u2019re not going to file with the LLC. You\u2019re going to file your 10 40, OK?<br \/>\n2:53<br \/>\nSo if you took out $5000 to go on vacation or something, then just declare another $5000. In addition to your income. You do not need a 1099. You don\u2019t need a paper trail. You just need to declare it on your 10 40, because remember, whenever you stay on your 10 40, it\u2019s under penalties of perjury. So, that\u2019s gonna be taken at face value.<br \/>\n3:11<br \/>\nGot it, OK, and there isn\u2019t any document or additional supplements required to produce why you are showing that a 5000 or 50,010, 40, none at all.<br \/>\n3:22<br \/>\nAnd if someone ever wants to ask, you say, look, you\u2019re lucky, I\u2019m reporting it at all.<br \/>\n3:27<br \/>\nSo, mean, that that should be your attitude, Look, taken to leave it. So you\u2019re being honest, and you\u2019re reporting it. If they want to ask for more documentation, you don\u2019t have to create it. Because you\u2019ve already, you\u2019re the only one that\u2019s testifying under penalty of perjury when you sign at 10 40.<br \/>\n3:43<br \/>\nSo, there\u2019s no one on the planet.<br \/>\n3:44<br \/>\nUnless you\u2019ve made a false statement, and it triggers some audit, no process, like, you know, or an unusual transaction, which would trigger an audit process, or you were selected for audit at random.<br \/>\n3:56<br \/>\nSo, Yeah, you don\u2019t need to prove that you had more income. Just they should be lucky that you\u2019re willing to confess, you know, Right, yes. So, so there\u2019s a more sophisticated way to do it.<br \/>\n4:06<br \/>\nIf you\u2019d like the idea of the Infinite banking concept Where you\u2019re going to open a whole life policy, and you can open 12 of these at 50 of them over whatever period of time.<br \/>\n4:16<br \/>\nYou can open a whole life policy, can fund it with a single premium, or a series of premium payments, just like any life insurance contract, and then you can borrow the money from the contract.<br \/>\n4:25<br \/>\nnow, Though, the insurance company will continue to pay interest to the beneficiary or to the principal, however they have it set up, while you borrowed the money out.<br \/>\n4:36<br \/>\nAnd then you can spend the money on an asset and make money on that asset and still make money on the whole life insurance policy.<br \/>\n4:44<br \/>\nYou can either pay, make the payments to repay the loan under the terms of the loan, or you can make a lump sum payment in advance of the interest that would be due on the life of the loan you took out of the insurance policy. And that\u2019s after tax money. So, that\u2019s a better way, in my opinion, because you could do one of those a year.<br \/>\n5:02<br \/>\nOr keep cycling the same whole life policy every year.<br \/>\n5:05<br \/>\nAnd you could just fund your whole annual living expenses, tax free money. It\u2019s after tax money, and then it\u2019s not even a question.<br \/>\n5:13<br \/>\nSo, if I want to spend $2200 on something, I don\u2019t, doesn\u2019t have to be reported at all.<br \/>\n5:19<br \/>\nIt\u2019s already considered.<br \/>\n5:20<br \/>\nJust add another way.<br \/>\n5:21<br \/>\nSo, you\u2019re saying, I just have to buy a life insurance policy and kind of go in that direction. You have to use a certain agent. Not all agents will do this, and let me know if you want to do that.<br \/>\n5:30<br \/>\nBut, yeah, you would just set up your whole life policy, the first way, the first time you do it, you\u2019re gonna want a blood sample, and they\u2019re going to establish residency in the technical things, and you\u2019re gonna take an application. Just, Like, always, you have to figure out who the beneficiaries going to be, who the insured is going to be, and who the owner of the policy is going to be, and you\u2019ll understand how that all works. The two people I work with Seth and Dance, they\u2019re very good at and they\u2019ll, they\u2019ll walk you through it all.<br \/>\n5:54<br \/>\nBut, the answer is, yes.<br \/>\n5:56<br \/>\nYou do a whole life policy. You can do 12 of them.<br \/>\n5:58<br \/>\nYou can fund them, I think, up to $5 million.<br \/>\n6:01<br \/>\nNow, some of the larger ones.<br \/>\n6:03<br \/>\nIt\u2019ll take a year or two to be able to get access to all that money. But once you do that, you\u2019ll be able to continually set up accounts. And for your whole life, you\u2019ll be able to do that. In a tax free way.<br \/>\n6:14<br \/>\nYou can have 100% tax free income for the rest of your life.<br \/>\n6:19<br \/>\nThat\u2019s amazing, OK, And do you have to pay a premium until the account? Yes, however, you find the account, you can use cash, you can do a single premium or you can do a monthly premium or even a quarterly premium.<br \/>\n6:31<br \/>\nLike, for example, if you\u2019re in it, if you\u2019re taking profits in a quarterly method, you\u2019re kryptos which is probably advisable, then maybe you want to set up a whole a policy now.<br \/>\n6:42<br \/>\nSo, in 18 months, you\u2019ll be funding the policy every month, or every three months, and then it\u2019ll breach it certain dollar amount.<br \/>\n6:48<br \/>\nAnd in that time, you\u2019ll be encrypted, making money in the kryptos, and you\u2019re funding your policies.<br \/>\n6:53<br \/>\nSo you\u2019re going to narrow that time when you can actually take the funds out, instead of waiting two years to get rich, and then do a single premium, and then, wait another two years to take all the money out. So it depends on how you want to work.<br \/>\n7:05<br \/>\nThat totally makes sense, and it\u2019s better to be proactive and be prepared now.<br \/>\n7:09<br \/>\nCan label them, set up a small policy, yeah, and just do a set of premiums, and then you know how it works.<br \/>\n7:15<br \/>\nWonderful. And then how do you take the money out of that debt policy?<br \/>\n7:19<br \/>\nSo you talked about like, Yeah, it\u2019s just paperwork. They\u2019ll do a wire. They\u2019ll do certified funds, they\u2019ll move it wherever you need it. Remember. It\u2019s after tax money if you do it, right. So, it doesn\u2019t matter where you put the money. You can put it in your personal account, and it\u2019s after tax money, so.<br \/>\n7:31<br \/>\nYou could spend however you want.<br \/>\n7:33<br \/>\nGot it, OK. Yeah.<br \/>\n7:34<br \/>\nAnother way to do it is, you can sell kryptos, use your LLC account, um.<br \/>\n7:40<br \/>\nAnd then, let\u2019s say you sell enough to make 100,000 in your LLC account and then go buy a car, and at the dealership, just simply title the card, a trust name or an LLC name, then the dealer will write up all the paperwork accordingly.<br \/>\n7:55<br \/>\nSo, now, all you\u2019ve done is moved property from here to there, and you have the same relationship with this LLC at your crypto account that you would with this trust or LLC, that owns the vehicle.<br \/>\n8:05<br \/>\nAnd then you just have the same insurance and all that. Because your beneficial interests remain the same.<br \/>\n8:10<br \/>\nNo.<br \/>\n8:11<br \/>\nThat\u2019s, that\u2019s a simple way.<br \/>\n8:12<br \/>\nAnother way is like I tell people, you can have the dealer structured as a loan showing your LLC as the lender, and he\u2019ll write up that documentation to that\u2019s just as easy.<br \/>\n8:20<br \/>\nSo it just depends on how you want to do things.<br \/>\n8:23<br \/>\nGot it, OK, and the same thing applies to words. Purchasing a real estate, whether it\u2019s a commercial or residential real estate. Real estate, you\u2019re typically gonna go throw an escrow contract.<br \/>\n8:33<br \/>\nSo minimum example is, I have my personal account at Coinbase I, I have the money I want to spend and I\u2019m going to move it over to Bitcoin because Bitcoin, everybody understands that. My Escrow agents will understand that. So, I move the money, I want to spend, let\u2019s say it\u2019s $250,000. I put it. My Bitcoin wallet, it\u2019s still in Bitcoin.<br \/>\n8:54<br \/>\nI go to my escrow agent now not all of them do this So, I will have a list for you.<br \/>\n8:59<br \/>\nOf agents that will do that say that you open escrow put Bitcoin in there and then the escrow agent will source the dollars for the seller and Then do the closing in dollars or whatever the seller wants.<br \/>\n9:09<br \/>\nSo, so that transaction is done under a trust, which is escrow.<br \/>\n9:14<br \/>\nGot it. OK, and will there be any taxable event incurred?<br \/>\n9:18<br \/>\nBecause what we\u2019re avoiding by what I just described, you will not have a taxable situation.<br \/>\n9:23<br \/>\nYou\u2019ll be, you\u2019ll be able to move money from your, into your new principle into the next asset, and you\u2019ll carry forward all the deferred status of any tax liability, OK? And would you be kind enough to share all those resources with me later on?<br \/>\n9:40<br \/>\nSure. I mean really, definitely. whatever it takes to get you through a deal and once you see how it works, then yeah, absolutely, that\u2019s just learning, but it\u2019s not complicated. I mean, just once you understand that you can do it that way. It\u2019s a matter of having a conversation with the dealer and it\u2019s a matter of having a conversation with your escrow agent or attorney. They just tell them, look, I want to do it this way. And they\u2019ll write up the contract accordingly.<br \/>\n10:00<br \/>\nThat\u2019s one. OK, yeah, I\u2019ll walk you through it. Sure.<br \/>\n10:03<br \/>\nThank you. I appreciate it. Another source that I was also looking into was precious metals, there are certain companies, gold, silver, whatever you want to buy, You can directly buy it through Bitcoin. You don\u2019t really have to cash it out and dollars and then buy precious metals. Right.<br \/>\n10:19<br \/>\none of them is Peter Shiff, so does that, I\u2019m assuming that works a similar way.<br \/>\n10:24<br \/>\nJust like you described for auto industry or real estate?<br \/>\n10:28<br \/>\nIt\u2019s very similar.<br \/>\n10:29<br \/>\nIt just depends on how the account is, is, if you have a third party account, like a Coinbase, but now you\u2019re in precious metals with Peter Shiff, if he has a Vault service, make sure the account holder is your LLC. That\u2019s probably the easiest way to do it. You just don\u2019t have to do it that way.<br \/>\n10:45<br \/>\nI mean, you could probably get away without doing it that way, but my recommendation is, the same way you\u2019re dealing with Coinbase through an LLC or a trust or a partnership, do that with your Vault service, where there\u2019s precious metals.<br \/>\n10:57<br \/>\nGot it. Yeah, you just want to have your LLC as a shield for everything. OK?<br \/>\n11:02<br \/>\nAnd the other thing is if you, if you sold, let\u2019s say you sold Bitcoin to your Uncle Bob and he\u2019s sent you some gold, nobody knows about that. Nothing wrong with that transaction. It\u2019s not necessarily taxable.<br \/>\n11:16<br \/>\nNo one\u2019s gonna report on each other.<br \/>\n11:18<br \/>\nSo now you\u2019ve converted Bitcoin to gold and it\u2019s not in third party you\u2019re holding in your hand. When you go to sell it, let\u2019s say you sell the gold now.<br \/>\n11:26<br \/>\nA few months later you sell it to a **** shop, let\u2019s say, which I\u2019m not recommending.<br \/>\n11:29<br \/>\nBut, as an example, the pawnshops kinda wanna know your name and your SSN. And instead, what you tell them is, the seller is this company name.<br \/>\n11:37<br \/>\nWhich is your LLC, and you give the LLC name and EIN.<br \/>\n11:42<br \/>\nAnd that\u2019s it, now the **** shop would want to know, and that\u2019s a good example, because Pawnshop is it could definitely gonna send you 1099.<br \/>\n11:47<br \/>\nSo instead of sending you the 1099 for selling your gold, Now notice the Gold was entitled My LLC there\u2019s no title because there\u2019s no third party I\u2019m just using the LLC\u2019s name in the transaction.<br \/>\n12:00<br \/>\nSo when I sell my pawnshop, the LLC is the one selling it as far as they\u2019re concerned and then my LLC gets 1099 which is no consequence to me.<br \/>\n12:08<br \/>\nGot it, OK.<br \/>\n12:09<br \/>\nSo, Gold is similar to crypto. When it comes to, when it comes to selling them, it\u2019s identical.<br \/>\n12:15<br \/>\nIt\u2019s identical. Gold is property, kryptos property, real estate is property, stock is property.<br \/>\n12:21<br \/>\nMy boat is property, right? When I sell my car, that\u2019s property, I\u2019m selling property. It\u2019s a disposition of assets as they call it, or property.<br \/>\n12:32<br \/>\nYeah, it\u2019s all the same. We had this conversation before.<br \/>\n12:35<br \/>\nSo, you know, in this case, I would get 10 99 from the exchange, what do I do in that case? Just don\u2019t get to tonight, make sure your LLC handles that transaction.<br \/>\n12:46<br \/>\nThat LLC will also get thousand 99. That\u2019s fine.<br \/>\n12:49<br \/>\nWell, yeah, that\u2019s fine, because that LLC is not going to file. So it\u2019s, like I said, it doesn\u2019t create a tax liability.<br \/>\n12:55<br \/>\nJust because you get a 1099 doesn\u2019t mean there\u2019s a tax liability.<br \/>\n12:58<br \/>\nThere\u2019s only, OK. The tax liability comes when you report a tax liability?<br \/>\n13:05<br \/>\nCorrect, OK, but Exchange will be reporting to the IRS about that LT track.<br \/>\n13:13<br \/>\nWould be one of the ways for IRS, the IRS to come down to me.<br \/>\n13:18<br \/>\nFor that LLC, there\u2019s nothing, the IRS wouldn\u2019t respond, There\u2019s nothing for the IRS to do.<br \/>\n13:24<br \/>\nIt doesn\u2019t trigger anything, it doesn\u2019t cause an audit.<br \/>\n13:28<br \/>\nIt\u2019s like I explained before, OK, Because the LLC has never filed a tax return, It\u2019s never created an account with the IRS because there\u2019s no account with the IRS.<br \/>\n13:38<br \/>\nAnytime a report is sent to the IRS with that entity as the recipient of funds, the IRS accounting system does not do anything. It doesn\u2019t care about the 1099.<br \/>\n13:50<br \/>\nRarely, OK, so do you actually look at master accounts that has been created by the companies and they actually go by that instead of that, That gets sent to the front of the 1099 does not create that taxable situation.<br \/>\n14:05<br \/>\nBut here\u2019s what\u2019s interesting, if the LLC account holder does not file a W nine isaan certification.<br \/>\n14:15<br \/>\nKnow, everyone asked me up to this W nine that you send with the new account and they\u2019re afraid to sign it and so I show them how to sign.<br \/>\n14:22<br \/>\nIn fact, I have a video on how to sign this thing, It\u2019s not hard.<br \/>\n14:27<br \/>\nWhat, what the Iris could do, well not the IRS what will happen is the third party exchange will liquidate some of your account and send that money into the IRS and it\u2019ll sit in a suspense file.<br \/>\n14:40<br \/>\nOh wow, you claim it.<br \/>\n14:41<br \/>\nYeah, so you definitely want to do the W nine, because if you don\u2019t, you\u2019ll lose 30% of that account and then to get it back, guess what?<br \/>\n14:49<br \/>\nYou have to do, file a return, so now your LLC will have to file a return, so definitely avoid that situation, Do not get into backup withholding.<br \/>\n14:57<br \/>\nSo this is when you are creating your EIN and after, once you get the EIN and you open your third party account, you\u2019re going to be requested to file a W nine where the LLC, the account holder will want to file a W nine. Sometimes just asked, sometimes you just send a W nine because you know they\u2019re going to ask, you want to file a W nine.<br \/>\n15:16<br \/>\nI always recommend just do one, just go on the internet and just look up Form W nine PDF and download one.<br \/>\n15:22<br \/>\nI think the latest revision is like 2018, get it from the IRS website, though, OK, and then just send it to them.<br \/>\n15:30<br \/>\nYeah, include it with your, what is it, your EIN approval letter?<br \/>\n15:34<br \/>\nSenate, later, I mean, I don\u2019t make too much of a big deal, a big deal. It\u2019s in my instructions when I send it when I send it out with a new structure.<br \/>\n15:41<br \/>\nBut yeah. So the only time you\u2019re gonna get into a reporting situation is when you are reporting something.<br \/>\n15:46<br \/>\nAgain, even with backup withholding, don\u2019t take your money and send it to the IRS just because you didn\u2019t verify the accuracy and correctness of the EIN.<br \/>\n15:55<br \/>\nBut, again, you don\u2019t have to file a return, but if you want that money, you\u2019re going to have to report. So, you want to avoid that.<br \/>\n16:01<br \/>\nYeah, you want to prevent adverse shock mm, OK?<br \/>\n16:05<br \/>\nAny restrictions that you have seen from the bank, when you\u2019re starting and taking the cash out and putting into bank and bank starting to get alarmed about, know, there\u2019s post rainfall income coming in like out of nowhere, No, dollar amounts are not a problem.<br \/>\n16:23<br \/>\nEven in the millions, I believe.<br \/>\n16:26<br \/>\nI don\u2019t know what, there are criteria, but just keep this in mind. Most people that have a bank account.<br \/>\n16:32<br \/>\nAlmost everybody probably is getting currency transaction reports that are automatically sent to the Financial Crimes network.<br \/>\n16:39<br \/>\nEven grandma, putting her Social Security check isn\u2019t that probably.<br \/>\n16:43<br \/>\nBecause grandma puts her Social Security check in the account. And that\u2019s the same amount every month.<br \/>\n16:49<br \/>\nAnd then maybe she sells something, and then there\u2019s a big deposit in between that.<br \/>\n16:55<br \/>\nOr maybe she gets a birthday gift or something. And then that would generate a currency transaction report on grandma. Because it\u2019s an unusual transaction and people say, oh my gosh, OK, well in that case, if I put my $5 million, that\u2019s unusual.<br \/>\n17:07<br \/>\nYeah, and so, what, let\u2019s say, there\u2019s a currency transaction report, so what there probably is, but it\u2019s not going to freeze your account. Now, sometimes, what I\u2019ve seen over the years is, it\u2019s not so much that the IRS cares, IRS does not care, IRS does not see these transactions.<br \/>\n17:21<br \/>\nThe only people who care is the bank, that will interfere with that transaction because the bank wants to hold the funds, tell you that it needs to hold the funds for some bogus reason. There\u2019s no other reason, other than the bank wants to make money on your money, before it releases the funds to you.<br \/>\n17:36<br \/>\nSo that\u2019s the only thing I\u2019ve been seeing over the years.<br \/>\n17:38<br \/>\nIt\u2019s not, just because you have a lot of money, all of a sudden, you\u2019re gonna get, I mean, you might get a report, but the cops won\u2019t show up. I hear door, if that\u2019s what you\u2019re concerned about. Yeah, that\u2019s good, OK. What happened? All of a sudden, your bank is flooded with all this money. Where do they come from? But they\u2019ve already, they\u2019ve already done. I mean, just, I would, I mean, obviously, you\u2019re not going to walk in there.<br \/>\n17:58<br \/>\nAnd so, the $5 million clears, then you come in there the next day with a suitcase and ask for it in cash.<br \/>\n18:06<br \/>\nDon\u2019t do that. Yeah, OK.<br \/>\n18:08<br \/>\nI\u2019ve heard horror stories where people go in, they\u2019ll pay cash for a car, and then next thing you know, I mean, OK, when you do that at a dealership, you can ask for yourself. Find out for yourself.<br \/>\n18:18<br \/>\nIf you pay cash for a vehicle or a vessel at a dealership, he\u2019s he\u2019s going to add a form as to your transaction, and he\u2019s going to send it to the IRS. And lots of times the IRS will come to your house.<br \/>\n18:30<br \/>\nIf you\u2019re using your home address for that transaction, they will come and ask you where you got that money. That does happen.<br \/>\n18:36<br \/>\nSo, that\u2019s why, I mean, it doesn\u2019t, you can avoid that situation.<br \/>\n18:40<br \/>\nBut what I, what I tell people is, why pay cash for something when I could just make it look like a loan?<br \/>\n18:45<br \/>\nTrue, I mean, I went to look like the next guy, and I\u2019ve made lots of mistakes over the years, went to my paid cash for a house. And then for the next 4 or 5 years, I was a drug dealer.<br \/>\n18:54<br \/>\nAnd when I went to try to sell it, it was a problem. And my partners are laughing at me, like, why are you tying up all your money?<br \/>\n19:01<br \/>\nSo what I learned is, if I\u2019m gonna pay cash for something, well, I\u2019m definitely gonna put a lien on it afterwards. So it looks like I borrowed the money later. At least.<br \/>\n19:10<br \/>\nHow, how long can you loan the amount for from the LLC? You can make the loan terms whatever you want.<br \/>\n19:18<br \/>\nBut you want to avoid a scrutiny, you want to make the interest rate a fair market value.<br \/>\n19:26<br \/>\nSo like today, I don\u2019t know, Maybe it\u2019s going to be five or 6% maybe it\u2019s gonna be 8% on a vehicle, and on a home, it might be 4.5%. If you make your interest rate too low, you\u2019ll have to justify that. So here\u2019s an example.<br \/>\n19:38<br \/>\nI have some real estate investors that I work with and it, well don\u2019t sometimes write a zero interest loan on a deal, I don\u2019t know why they do that.<br \/>\n19:46<br \/>\nMaybe it\u2019s for marketing, so what they\u2019ll do is they\u2019ll take 4.5% that they want on it and they\u2019ll, they\u2019ll read their amortize amortize it into the principal.<br \/>\n19:55<br \/>\nSo the principle goes up.<br \/>\n19:57<br \/>\nSo they\u2019re gonna get the 4.5%, the interest rate is zero, but the interest rate has been amortized into the principle.<br \/>\n20:04<br \/>\nSo if you can explain that to the IRS, which is real easy to do, then you can justify at 0% face value note.<br \/>\n20:11<br \/>\nSo, you can do that. But, just the same, why not avoid the conversation, right?<br \/>\n20:16<br \/>\nBecause you can make the, like I can, I can, If my income did, I want to show, for whoever wants to see it, right? If my income wants to be a certain amount, then I want to buy a house that is not justified by my income.<br \/>\n20:29<br \/>\nLet\u2019s say the cost of the house is too much compared to my income, right?<br \/>\n20:35<br \/>\nSo I can actually write the financing so that it\u2019s justified by my income, and the way I do it is, let\u2019s say, my payments would be 5000 a month, but my income on justify that, so what I\u2019ll do instead is make my payments $2000 a month.<br \/>\n20:50<br \/>\nAnd I\u2019ll put a balloon payment where like, all the money is due in three years.<br \/>\n20:54<br \/>\nSo that way, I can write on paper, everything\u2019s documented in every three years or 2.5 years, I will just rewrite the note and keep doing the same thing.<br \/>\n21:03<br \/>\nI just keep rolling it over.<br \/>\n21:05<br \/>\nSo, you have a lot of power when you start writing your own debts.<br \/>\n21:10<br \/>\nWow, that\u2019s just the beginning, though. There\u2019s a lot more.<br \/>\n21:12<br \/>\nBut I\u2019m just saying, this is a great learning opportunity, Everything that talk about the John, I\u2019m, like, learning so much.<br \/>\n21:21<br \/>\nThis is, this is amazing. And, what else have you seen your clients doing besides this? I love those ideas, and I think, you know, I will definitely have more questions once I get to that stage, but I love that whole life insurance policy and I\u2019ll definitely get back to Yeah, the whole life is a great tool. Oh, there\u2019s so many things you can use that for.<br \/>\n21:42<br \/>\nThe the loan structuring is a great tool.<br \/>\n21:46<br \/>\nI mean, the really slick way to do it is the whole life.<br \/>\n21:49<br \/>\nBut, if you just want to keep things simple, you know.<br \/>\n21:51<br \/>\nPay cash for a thing, a property and asset, pay cash for it and don\u2019t title in your name, OK, use your whole life policy, structure, the purchase as a loan, or and or use escrow to buy real estate. That\u2019s the easiest thing to do. You can buy it, you can use escrow for anything, but the higher ticket items is where you want to use escrow. You\u2019re not gonna use escorted by a ham sandwich, right.<br \/>\n22:13<br \/>\nI probably could, certainly to, I don\u2019t know. But, yeah, So, that there are listed things, and there\u2019s so many variations.<br \/>\n22:22<br \/>\nAnd what\u2019s going to happen is this C, you\u2019re asking me about how to do that initial profit taking and move away from kryptos and go on with my life, and you\u2019re going to have, let\u2019s say, $17 million. And let\u2019s say you successfully re-allocate your $17 million into a whole list of nice assets. Let\u2019s say you get three nice assets. They\u2019re really good. They\u2019re producing.<br \/>\n22:44<br \/>\nIt looks great on paper.<br \/>\n22:45<br \/>\nAnd now, you\u2019ve got your principle that you just one, all right.<br \/>\n22:51<br \/>\nAnd you\u2019ve moved it successfully to your new asset portfolio, OK, But you have no financing.<br \/>\n22:58<br \/>\nSo think about this, because it\u2019s kinda like that idea where the dentist is really good at being a dentist, but he doesn\u2019t know how to manage a business.<br \/>\n23:06<br \/>\nHe doesn\u2019t know how to hire people, right. Or he\u2019s not good at it.<br \/>\n23:10<br \/>\nHe doesn\u2019t know how to take an application. He doesn\u2019t know how to market his practice to professionals that want to work with him anesthesiologists and things like that.<br \/>\n23:18<br \/>\nHe doesn\u2019t have time for that. He\u2019s really good denys, Everybody wants to go there, but he can\u2019t manage the business.<br \/>\n23:23<br \/>\nSo he needs a business manager, right?<br \/>\n23:26<br \/>\nSo, when you buy an asset, you might have learned how to get the asset.<br \/>\n23:29<br \/>\nYou might have a good team, and that\u2019s awesome, but are you in the same business as a lender and chances are you\u2019re not, and you probably should not be.<br \/>\n23:36<br \/>\nSo, as a rule of thumb, when you get into an asset, Maybe it\u2019s easy to pay cash for the asset, but you need to learn how to bring in some financing.<br \/>\n23:44<br \/>\nEven if you\u2019re going to do it after the fact, it\u2019s probably better to do it when you\u2019re gonna buy the asset, but when you\u2019re first assets, when you just need to get into the asset you know from from Kryptos, now, you\u2019re gonna get into real estate and, OK? I\u2019ve crossed that bridge now.<br \/>\n23:56<br \/>\nThen, you start looking for financing, and so that\u2019s a whole new skill.<br \/>\n24:00<br \/>\nThen, investing in why do I want to do financing because I want to manage the risk, and I want people that are qualified to manage the risk a certain way. I\u2019ve already figured out what the risk is going to be, and I took on some type of risk when I bought that hotel, and the apartment complex.<br \/>\n24:16<br \/>\nAll right, and I paid cash for it. Now, all my cash is tied up in all these assets. So, now I want someone to come in who understands financing because that\u2019s a different set of risks.<br \/>\n24:25<br \/>\nAnd he\u2019s going to finance it for me and now I\u2019m gonna take half of that capital and I\u2019m gonna go buy yet one more asset.<br \/>\n24:32<br \/>\nRight. Because that\u2019s what you want to understand. So, the eggs in one basket. And just go all in cash and just buy up the properties. And not managing risk, yeah.<br \/>\n24:42<br \/>\nYeah, Because you got all your cash tied up, you\u2019re missing opportunities because, again, you\u2019ve got all your cash tied up and you\u2019ve got your, your, let\u2019s call it, this is the wrong term to use, but you\u2019re over allocated because your cash is not being used more efficiently mm.<br \/>\n24:58<br \/>\nYou\u2019re making money, your books look good but you could be taken up 10%. You could just take 10% of your equity, OK? In a hotel, 10%.<br \/>\n25:08<br \/>\nAnd you can go into commercial real estate liens, right? Tax lien certificates.<br \/>\n25:14<br \/>\nAnd you can have hire a person to do this and you can roll those over and make 30% internal rate of return.<br \/>\n25:21<br \/>\nNow, must say that again, on the face value of my investment, my cash in, cash out on my hotel, in my single family. I mean, my mom, my apartment complex, I\u2019m making, let\u2019s say, 8.5%, pretty cool money. 0.5% on $17 million.<br \/>\n25:38<br \/>\nBut I\u2019m going to take a small group of dollars out of that, and I\u2019m going to put it into another type of Asset that\u2019s paper a paper asset, and I\u2019m going to have someone manage it, and over here, my, my 10% of this holdings over here is now going to make me 30% internal rate of return.<br \/>\n25:53<br \/>\nSo that the phrase I want you to understand, is that there\u2019s an internal rate of return that you have control over.<br \/>\n25:59<br \/>\nSo you want to get into a situation where 8.5% looks great, but my internal rate of return is gold over here, because I\u2019m just managing this risk.<br \/>\n26:11<br \/>\nAnd again, you could, you could do this tax free.<br \/>\n26:13<br \/>\nNow, let\u2019s take this to one more, one more level.<br \/>\n26:16<br \/>\nOK, OK, I have regular cash flow from an asset. that\u2019s worth, OK, I\u2019m just going to throw out a number.<br \/>\n26:23<br \/>\n10 times, whatever your cashflow is, that\u2019s what your credit worthiness is.<br \/>\n26:29<br \/>\nSo if your cash flow is one thousand dollars, it\u2019s $10000 worth of credit worthiness.<br \/>\n26:33<br \/>\nFor every thousand dollars, Let\u2019s say, roughly, OK.<br \/>\n26:36<br \/>\nImagine if you showed the bank or the lender.<br \/>\n26:39<br \/>\nMaybe it\u2019s a hard money lender, your internal rate of return over here.<br \/>\n26:44<br \/>\nNow, you factor a 30% internal rate of return with your 8.5% over here.<br \/>\n26:49<br \/>\nAnd how much credit worthiness do you have now?<br \/>\n26:53<br \/>\nYou see it just keeps going and going, and going.<br \/>\n26:56<br \/>\nSo there\u2019s a, There\u2019s a lot more than just taking your, you know, take your money out. Yeah, it\u2019s called Diversification of Your Own Cash Diversification is another subject you want to get into.<br \/>\n27:11<br \/>\nThe thing you want to invest in is something you either have knowledge of, or can have knowledge, or that you can assemble a team that has knowledge.<br \/>\n27:16<br \/>\nYou don\u2019t want to invest in something, because it sounds cool.<br \/>\n27:19<br \/>\nIt has to, it has to make sense for what you want to accomplish. So how do I diversifying that?<br \/>\n27:23<br \/>\nI\u2019ll give you an example if I own a business, which is a sandwich shop, and I\u2019m leasing a space in a strip mall.<br \/>\n27:31<br \/>\nMy next step in diversifying in that asset if it is an asset and that would be an asset if I\u2019m not the guy making the sandwich. Right?<br \/>\n27:39<br \/>\nIf I, if I just own the business and I\u2019m to have some people working for me, then it\u2019s an asset.<br \/>\n27:44<br \/>\nMy next step in diversifying would be to buy the strip mall as an example.<br \/>\n27:50<br \/>\nNot by a competitor Maybe it would be or not because I\u2019m really good at the restaurant doesn\u2019t mean I\u2019m automatically good at buying commercial airliners, right? That\u2019s not diversifying diversifying does it mean spread out your money in different things?<br \/>\n28:06<br \/>\nthat, you know, shotgun approach, it means opening up your investment, Footprint in the Asset that you\u2019re kind of having knowledge of.<br \/>\n28:15<br \/>\nGot it, OK.<br \/>\n28:17<br \/>\nThat definitely helps.<br \/>\n28:19<br \/>\nYeah, I would definitely Try to get more information on the credit nodes as well that you just mentioned because there is definitely a lot more opportunity as opposed to just a real estate.<br \/>\n28:29<br \/>\nOh, yeah, Oh, yeah.<br \/>\n28:31<br \/>\nDo you have documentation on all of those, or are you, I know you mentioned, like you are, In the midst of creating it posts, all documentation, along with resources, Do you think it went?<br \/>\n28:43<br \/>\nIt would make sense to kind of have that kind of a documentation for your clients. Yes, I do.<br \/>\n28:48<br \/>\none of our members was very kind the, this weekend, or few days ago, to help me produce about an hour\u2019s worth of content explaining how he spent six months failed twice and finally acquired a business for $200,000. He spent $200,000.<br \/>\n29:07<br \/>\nHe got the seller to finance part of it, and he got a lender to finance the other part of it.<br \/>\n29:12<br \/>\nYeah, and he never spent one dime of his own money.<br \/>\n29:16<br \/>\nIn the process, though, he acquired a relationship with a list, a long list of professionals that will help him.<br \/>\n29:21<br \/>\nIn fact, the people that helped them do this said in six months, there\u2019ll be able to refinances entire operation into a business loan, worth a half a million dollars. He\u2019s never done this before.<br \/>\n29:35<br \/>\nUnsecured, Without a guarantee on it, he will not have to guarantee that half a million dollars.<br \/>\n29:39<br \/>\nAnd the reason is he\u2019s netting $13,000 a month.<br \/>\n29:43<br \/>\nAh, ha, oh, can you just took them a few months and some paperwork and some handshakes?<br \/>\n29:47<br \/>\nAnd so, he, That\u2019s a tool that people need to learn how to use.<br \/>\n29:51<br \/>\nSo, now, I was, I was lucky enough to get him to agree, to, give us, to share with everyone the his contacts, how he got the financing, what he did, etcetera. And, he\u2019s going to give me that documentation and it\u2019s gonna go into one of our modules, and I\u2019ll make that available pretty soon.<br \/>\n30:07<br \/>\nI\u2019ve got at least one more interview or maybe two more interviews to do So, for some more content So I want to make it a series because it\u2019s not, I don\u2019t know how because I don\u2019t like to teach somebody on like an MLM program.<br \/>\n30:18<br \/>\nI mean, That\u2019s not really that I think Making more money is just about going with what someone likes to do. So, you\u2019re gonna have to see 12 examples of what people have done to decide, OK, well, I liked this thing and that guy did it that way.<br \/>\n30:33<br \/>\nI think I could probably do something similar and that\u2019ll help Yeah, absolutely, I think this will definitely help a lot of people who are still like in a limbo. We\u2019re still, you know, pretty much thinking through and planning for, you know, those things. There are, there are going to happen, in, you know, let\u2019s say, a year or two years down the road. This can come in very handy. Like I am learning, and I\u2019m hearing all of this jargons and things for the first time in my life, so I\u2019m very grateful to have met you virtually and talk with you.<br \/>\n31:01<br \/>\nPick your brain and share ideas with yourself. Well, I\u2019ll share this.<br \/>\n31:05<br \/>\nOK, so I Want you to think this, You probably don\u2019t need to hear this, but I\u2019m saying for this, this for everyone, Because you\u2019ve spent your life learning, all these technical things about the tax system, Because you think you have to.<br \/>\n31:18<br \/>\nIt\u2019s probably a good idea to know some things, And you can speak the language, or I talked to a lot of you guys, and They all are pretty good at speaking the language and talking about this term and that term that tax people use and attorneys use.<br \/>\n31:30<br \/>\nYou are Competent to do what we\u2019re talking about here.<br \/>\n31:34<br \/>\nYou are competent to do this, don\u2019t think that you\u2019re not, and if you told me that I had to go change the oil my car. I would hesitate, but you know what? If I really had to do it, I\u2019d figure it out. I pretty much a YouTube video, but you have to first believe that you can do it.<br \/>\n31:48<br \/>\nI\u2019m telling you, I\u2019ve seen people do stuff like this.<br \/>\n31:50<br \/>\nI\u2019ve seen I\u2019ve seen Grandma I\u2019m not exaggerating I\u2019ve seen her conduct a trial in a mortgage foreclosure, Quite well. So you can do it.<br \/>\n32:01<br \/>\nIt\u2019s not even that difficult.<br \/>\n32:03<br \/>\nThat\u2019s a wonderful. The guy that you\u2019ll you\u2019ll meet was in the video.<br \/>\n32:07<br \/>\nOur member, I asked them at the end, I said, um, compare what you did with the effort it would take to buy a house like anybody has done. He said, Oh, yeah. It was easier to buy this business.<br \/>\n32:19<br \/>\nI said, Yep. That\u2019s what he said. I knew he\u2019d say that, but, yeah.<br \/>\n32:22<br \/>\nHe said it was easier, then buying a house.<br \/>\n32:25<br \/>\nSo, and a lot of you have done that, so there\u2019s really no excuse. Why is it easy to buy a business? Is that OK? I\u2019ll tell you what my thinking is.<br \/>\n32:36<br \/>\nThe lenders that are involved, they want you to buy the business as opposed to buying the house. It\u2019s almost like if you buy a house, they know that that money is coming from your your employment.<br \/>\n32:45<br \/>\nSo if they\u2019re gonna almost, it\u2019s almost built into where you\u2019re being penalized for doing that, because that\u2019s actually a stupid thing to do. I\u2019m not saying you\u2019re stupid, I\u2019m just saying.<br \/>\n32:55<br \/>\nIt\u2019s a consumer thing to do, I\u2019ve done it.<br \/>\n32:57<br \/>\nThe smart way to do it is by your asset first.<br \/>\n33:00<br \/>\nIf you\u2019re, if you\u2019re just leaving college in, or the moment in your life, you\u2019re thinking I\u2019m gonna buy a house, you should just go buy a business in your neighborhood, or go buy an online business, Get that financing in place. Go to the struggles because it\u2019s not that easy. Sometimes it is not, Yeah. You get that in place.<br \/>\n33:15<br \/>\nAnd then go buy your house because now you have your employment income. When I got this real asset over here and just realize your boat is not an asset, your house is not an asset, the money or borrowing to buy a house with does not make your house an asset. It\u2019s definitely a liability. It\u2019s the bank\u2019s asset.<br \/>\n33:32<br \/>\nSo when you win, you can buy an asset, then it becomes easier to buy a house. The bank wants you to buy the asset because it knows that the thing you\u2019re buying is going to pay for the debt, it\u2019s not betting on you keeping your job.<br \/>\n33:45<br \/>\nYeah, that\u2019s why, Absolutely, and I know you\u2019re big into buying online businesses, and you have shared a couple of resources, but where can I find more resources too?<br \/>\n33:56<br \/>\nStarted looking into it, because I feel like with Coronavirus going on, It\u2019s best. In the best interests, to look for more virtual environment online businesses. As opposed to Physical, OK, um. Here\u2019s the language you would look for, and you\u2019d be in, that you\u2019re searching things on the Internet, and before I tell you what, that is, the gentleman I interviewed he gave us all.<br \/>\n34:17<br \/>\nAnd I had them spell it out, he gave us all the website for, it\u2019s called a, um?<br \/>\n34:22<br \/>\nWhat do you call it?<br \/>\n34:23<br \/>\nLike, um, a list broker of all business brokers.<br \/>\n34:28<br \/>\nNow many, many of them, I mean this is this is like what do you call it like the phone directory of all phone directories, right?<br \/>\n34:35<br \/>\nSo you can go and look for business brokers on the internet, you can literally search on that term business brokers, website, brokers, things like that.<br \/>\n34:45<br \/>\nWe use exchange marketplace dot com as an example. And just, I always tell everybody, I don\u2019t have any deal with those guys. Never talk to them before. I just like the whole format, and it\u2019s a great tutorial.<br \/>\n34:54<br \/>\nAnd, by the way, that was. that\u2019s what the member used, I remember he used the exchange marketplace, those guys did a fantastic job.<br \/>\n35:00<br \/>\nAnyways, there is another service that has a list of all these brokers around the country and around the world you can find them, right? So what you\u2019re looking for are brokers.<br \/>\n35:09<br \/>\nA lot of times the broker is online, But he only sells brick and mortar businesses. So it depends on what you want to do.<br \/>\n35:15<br \/>\nMillimeter, hm, got it.<br \/>\n35:18<br \/>\nThis is great. Well, thank you so much again John, for your time and for sharing all this information.<br \/>\n35:23<br \/>\nAny, any other ideas, anything else that you would like to to share?<br \/>\n35:27<br \/>\nWell, I think that covers the main points, and I certainly appreciate. Let me record this. I\u2019m going to make this available for our members and I\u2019m sure we\u2019ll do some more of these.<br \/>\n35:34<br \/>\nThere\u2019ll be some different questions, So we\u2019ll probably do a couple more in the next few months.<br \/>\n35:39<br \/>\nYeah, absolutely. Anytime you need me. You want me to jump on Zoom. I am happy to. I appreciate that.<br \/>\n35:45<br \/>\nThanks so much already.<\/p>\n        <\/div>\r\n    <\/div>\r\n\r\n    \r\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c806c51 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c806c51\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-99cbb4c\" data-id=\"99cbb4c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-60889a6 elementor-widget elementor-widget-spacer\" data-id=\"60889a6\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-18d63e8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"18d63e8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-aecd35a\" data-id=\"aecd35a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cd2ba32 elementor-widget elementor-widget-text-editor\" data-id=\"cd2ba32\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Summary<\/strong><\/p><p style=\"padding-left: 40px;\">1. The talk discusses concepts for profit-taking from cryptocurrency investments and potential ways to mitigate tax liabilities.<br \/>2. One method suggested involves paying off personal debts with funds from a Limited Liability Company (LLC), which might not trigger a tax event.<br \/>3. The LLC is suggested to avoid potential audit triggers, such as selling cryptocurrencies for large sums and declaring the gains.<br \/>4. The &#8220;Infinite Banking&#8221; concept is introduced, where one could open a life insurance policy to funnel profits and avoid triggering audits.<br \/>5. The speaker suggests purchasing properties or assets like vehicles under the name of an LLC or trust, to avoid taxable situations.<br \/>6. When transitioning to precious metals, it&#8217;s recommended to ensure the account holder is the LLC to potentially avoid triggering tax events.<br \/>7. The speaker cautions against backup withholding when dealing with large amounts of cash, emphasizing the importance of using an LLC.<br \/>8. Using escrow and LLCs for purchasing real estate is recommended as an easier way of avoiding potential tax events.<br \/>9. The importance of risk management in investing is highlighted, suggesting not tying up all capital in one type of asset and diversifying investments.<br \/>10. The speaker ends the talk by encouraging individuals to explore their interests and invest in what they find compelling, highlighting that they are competent to handle their own finances.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bc60f29 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bc60f29\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-93906d4\" data-id=\"93906d4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>U14 &#8211; Beginning Concepts for Taking Profits from Cryptos<\/p>\n","protected":false},"author":131,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[124],"tags":[],"_links":{"self":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/11606"}],"collection":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/users\/131"}],"replies":[{"embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/comments?post=11606"}],"version-history":[{"count":7,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/11606\/revisions"}],"predecessor-version":[{"id":27382,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/11606\/revisions\/27382"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=11606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=11606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=11606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}