{"id":14252,"date":"2021-04-24T14:49:56","date_gmt":"2021-04-24T18:49:56","guid":{"rendered":"http:\/\/privacyfight.io\/?p=14252"},"modified":"2023-06-25T06:27:18","modified_gmt":"2023-06-25T10:27:18","slug":"u23-signature-rights-and-credentials-using-llc","status":"publish","type":"post","link":"https:\/\/privacyfight.io\/u23-signature-rights-and-credentials-using-llc\/","title":{"rendered":"U23 &#8211; Signature rights and Credentials using LLC"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"14252\" class=\"elementor elementor-14252\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a15b2c8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a15b2c8\" 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-10a0c83\" data-id=\"10a0c83\" 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-5f881dd elementor-widget elementor-widget-text-editor\" data-id=\"5f881dd\" 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\/720194410\/?\" 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            U23 \u2013 Signature rights and Credentials using LLC\r\n0:02\r\nHey, everybody, thanks for joining the call. This is, I think, take to write March 25th. And I sent my notes out to the Telegram chat.\r\n0:11\r\nWe\u2019re going to talk about signer rights on LLCs. The purpose of this, this meeting so you guys can&#8230;        <\/div>\r\n        <div class=\"vidseo_collapse_content\" style=\"\">\r\n            <p>U23 \u2013 Signature rights and Credentials using LLC<br \/>\n0:02<br \/>\nHey, everybody, thanks for joining the call. This is, I think, take to write March 25th. And I sent my notes out to the Telegram chat.<br \/>\n0:11<br \/>\nWe\u2019re going to talk about signer rights on LLCs. The purpose of this, this meeting so you guys can ask questions. I know it\u2019s a bit foreign born concept. I have certain reasons why I do this.<br \/>\n0:23<br \/>\nSo let me just talk briefly about where you can find more information. I have videos. I publish on YouTube on a channel called Privacy Fight. It\u2019s just one term, one word stuck together to. We\u2019re stuck together. And you\u2019ll see a lot of the concepts that I explained there, but I wanted to do this video, because I want to do a lot of question and answer, and I want to put this content in the members area.<br \/>\n0:46<br \/>\nSo I am going to follow these notes, but then I want to let you all ask questions, so you can get a better idea of how I, I think this through.<br \/>\n0:55<br \/>\nThe reason why, the way I came up with these methods, it\u2019s just by looking at problems over the years.<br \/>\n1:02<br \/>\nAnd I\u2019m trying to head off any problems. Any of you all might run into along the way while you\u2019re using a company for its intended purpose. Like reducing tax liability, or some other liability, or having some level of privacy.<br \/>\n1:15<br \/>\nSo let me just say that we can register a limited liability company with different signers.<br \/>\n1:22<br \/>\nYou can have single members. You can have multiple members.<br \/>\n1:27<br \/>\nThere\u2019s, there\u2019s a reason for each.<br \/>\n1:28<br \/>\nIf I\u2019m going to set up a company for a group of people that are all in business together, let\u2019s say they\u2019re running a co-op, or it\u2019s a partnership, or something like that.<br \/>\n1:39<br \/>\nI will, I will take 2 or 3 of the members and make them signers because they\u2019re gonna get some level of protection known as charging our protection.<br \/>\n1:47<br \/>\nSo, if, as long as you have at least two members and they\u2019re not married, you have charging and protection.<br \/>\n1:52<br \/>\nWhat that means is someone can\u2019t go into a court and get rid of attachment against one of the members and then reach into the company for that individual members debts, until the company disperses funds to that individual member.<br \/>\n2:05<br \/>\nAs long as there\u2019s another member that\u2019s not a spouse, then there\u2019s a separation.<br \/>\n2:10<br \/>\nException to that is if both members of the LLC have the same exact debt in the same creditor, then it\u2019s fair game. In that case, you would just add a third member, OK. It\u2019s actually that simple.<br \/>\n2:22<br \/>\nSo, you see how this is kinda playing out? Now, a lot of times, I\u2019m talking to someone who\u2019s just by himself or by herself, and it\u2019s just as well. We don\u2019t want to call him Uncle Bob and asked him if he wants to be side or he\u2019ll say, hey, yeah, well, I haven\u2019t heard from you since last Christmas. What do you want me to do? You know, and hook it all scared and stuff.<br \/>\n2:39<br \/>\nSo what you do is, you can use a trust that you may already have.<br \/>\n2:43<br \/>\nA lot of people have trusts already.<br \/>\n2:45<br \/>\nIt could pretty much be involved in something else. It\u2019s not a big deal to make it the owner of the limited liability company.<br \/>\n2:50<br \/>\nI like to use an association that is not incorporated at the time.<br \/>\n2:54<br \/>\nAnd the way you do that is you just identify a group you can used to manage the property rights.<br \/>\n3:00<br \/>\nWhat I mean by property rights is the ownership interest in the property, that the LLC is considered to be owner up. So that would be like coinbase if I have an LLC account at Coinbase. The coins in that account.<br \/>\n3:14<br \/>\nOr the property of the LLC and then the question is who owns the LLC? Well it could be a trust.<br \/>\n3:18<br \/>\nIt could be Jim and Bob.<br \/>\n3:20<br \/>\nIt could be an unincorporated Association, whatever you want.<br \/>\n3:23<br \/>\nI like to use an unincorporated association because all of us have one.<br \/>\n3:28<br \/>\nI like to use my own family, right, so I just give my family a name, You know the John Smith\u2019s society, for example, right?<br \/>\n3:36<br \/>\nThe John Smith Society, PMA, Private Membership Association, could be the owner.<br \/>\n3:40<br \/>\nYou\u2019re not gonna get charged or protection, but then it won\u2019t matter because you\u2019ve just created an innocent party.<br \/>\n3:46<br \/>\nIt does exist.<br \/>\n3:48<br \/>\nIt\u2019s legally binding. And what\u2019s really nice about the PMA or the unincorporated association, the way I do it is no one can subpoena the documents.<br \/>\n3:56<br \/>\nThat formed it because it was formed just by simply how people relate to each other, especially with a family. It\u2019s a very exclusive club, right, because only a few people certain kind of people can be in there, right?<br \/>\n4:07<br \/>\nSo by its very nature it is in fact a private membership association and if you act in its behalf like if you sign for it and you sign for the LLC and open a bank account and the PMA owns it.<br \/>\n4:20<br \/>\nThen in fact, the PMA is a trust.<br \/>\n4:25<br \/>\nSo we could talk about that. I know, it\u2019s kinda like mind blowing.<br \/>\n4:28<br \/>\nYou go, Wait a minute, Trust, wheres the document.<br \/>\n4:31<br \/>\nWell, there\u2019s a trust as a relationship.<br \/>\n4:34<br \/>\nAnd so all we\u2019ve done is name the relationship and say that that\u2019s the owner of the LLC. It\u2019s completely binding on everybody.<br \/>\n4:41<br \/>\nAnd what\u2019s really cool is, I know the banks don\u2019t like this, but under the Bank Secrecy Act the bank is not compelled under any law to investigate the beneficial interest of the PMA, like who\u2019s in your family or who\u2019s your partner As long as Than That.<br \/>\n4:57<br \/>\nYou\u2019re the only one who\u2019s signing or the other person is signing. Let\u2019s say you have two people signing, or are one. Yeah, the bank can ask about those individuals and their ID and their SSI and all that stuff. But as far as the actual, you know, 40 people that are part of the association, maybe it\u2019s your family, maybe. Some club you\u2019re in.<br \/>\n5:14<br \/>\nThe bank is not required by law to ask or collect that information.<br \/>\n5:20<br \/>\nAnd we can talk about that in a second here.<br \/>\n5:22<br \/>\nSo, um, so there\u2019s two ways to go: more than one person as a member or a single member, which is an unincorporated association or your favorite trust, OK.<br \/>\n5:35<br \/>\nUm, let\u2019s see yes a two members charging order.<br \/>\n5:42<br \/>\nYeah. So the PMA, we could it\u2019s a group of people. You just giving it a name. So for example, I can call it anything I want, the John Smith\u2019s Society, PMA.<br \/>\n5:50<br \/>\nI want to put the \u2026 designation. I mean that\u2019s the most common.<br \/>\n5:53<br \/>\nYou could pretty much put any designation, like LLC, You can have an LLC own an LLC. I just think that\u2019s too complicated.<br \/>\n5:59<br \/>\nAnd it really is not, I mean, I don\u2019t know, I don\u2019t like to do to LLCs like that, but like, I have in my notes here I mean, you can call it Grandma\u2019s Cookie Kitchen, OK?<br \/>\n6:07<br \/>\nIn color kinds of things, there\u2019s no need for additional sinor, so let\u2019s say, know, you\u2019re doing something, and maybe you have in mind, let\u2019s say you have some cash flow, and you\u2019re thinking, OK, I\u2019m gonna make so much money, or regular cash flow that.<br \/>\n6:18<br \/>\nI want my family, that benefit if I disappear, if I get lost at sea or abducted by aliens, right?<br \/>\n6:23<br \/>\nSo you want to, you don\u2019t need to have another person sign on the account to give someone else access. You really only need to have access to the credentials.<br \/>\n6:34<br \/>\nYour credentials would be like, your login user ID, on computers, today. That\u2019s how we access our accounts.<br \/>\n6:39<br \/>\nUsually, the only thing that someone who\u2019s not a signer can cannot do is walk into the bank with his ID, and, without having any sinar rights at all, cannot access the account unless the interests have gone through probate. And I just really want to avoid that. I think you want to avoid that as well.<br \/>\n6:57<br \/>\nSo what you want to do is have a plan that that control of the asset, or the treasure that\u2019s important to you is available to others.<br \/>\n7:07<br \/>\nYou care about through credentials. And you could do that right now as soon as you set everything up.<br \/>\n7:12<br \/>\nYou establish the credentials. You have a conversation with somebody in your family, or a friend, or whatever, and say, if I disappear, I\u2019m lost at sea or whatever. Go into my vault. You know where to get the combination.<br \/>\n7:22<br \/>\nAnd there you go, OK, the information is there. Let\u2019s say a quick example.<br \/>\n7:26<br \/>\nUm.<br \/>\n7:27<br \/>\nI could have a single check. In fact, you could just make up a check, a check that you write on your bank account, OK? You can have a check, a paper check. Sitting around. You can have it in the vault.<br \/>\n7:37<br \/>\nIf the people in your family or business know how to do that, they can create a check, OK?<br \/>\n7:41<br \/>\nThey can create a check on the account. It\u2019s a written order.<br \/>\n7:44<br \/>\nAnd you can write out a check, and you can literally sign the seiners name. Even if he\u2019s dead. You can just forge his name.<br \/>\n7:50<br \/>\nBecause that would be your arrangement. That\u2019s not forgery.<br \/>\n7:53<br \/>\nYou have permission to do that.<br \/>\n7:55<br \/>\nAnd you can clear the funds from the account, OK?<br \/>\n7:58<br \/>\nThe reason why you want to do that is because you don\u2019t want to have to go to an attorney or some court and ask for permission to access these funds and then, risk some, you know, attorneys, becoming vultures, right, and picking out these these funds and tying them up for years.<br \/>\n8:13<br \/>\nYou want to You want to retain control of it. There\u2019s no reason why you shouldn\u2019t be able to do that.<br \/>\n8:18<br \/>\nSo, there\u2019s credentials. Let\u2019s see.<br \/>\n8:21<br \/>\nWhat else do we do?<br \/>\n8:22<br \/>\nYeah. If you wanted to add another sinor, just maybe, maybe it\u2019s useful to you.<br \/>\n8:27<br \/>\nYou can take the banking resolution document that I give you when I set up the company. Now, you can do this yourself. I\u2019m not saying that I\u2019m the only guy that knows how to do this.<br \/>\n8:34<br \/>\nYou get a banking resolution. In fact, the bank probably has a form. And all you do is copy the resolution and just put the name of the signer on there.<br \/>\n8:41<br \/>\nAnd the language on there basically says, The resolution of the company, the LLC, is that John Smith is going to be a authorized signer with the power and authority to withdraw the funds in this account.<br \/>\n8:55<br \/>\nAnd then John Smith signs it, and the bank will accept it, Sometimes it has to be notarized.<br \/>\n9:00<br \/>\nUsually not, the bank will accept it, and here\u2019s why.<br \/>\n9:03<br \/>\nIt only wants to see something in writing that it didn\u2019t create, so that it will not have the liability for if anything goes wrong.<br \/>\n9:11<br \/>\nSo, it\u2019s not like, you know, you have to testify or anything like that, so just it\u2019s actually pretty simple.<br \/>\n9:16<br \/>\nAlright, OK, So, you can have access to the credentials. You can use a check.<br \/>\n9:22<br \/>\nYou can add a signer on there with the banking resolution you can use. You know, you can just step in the shoes of the seiner using the debit card.<br \/>\n9:31<br \/>\nYou just can\u2019t walk in the bank with your ID unless you\u2019re on the account.<br \/>\n9:35<br \/>\nLet\u2019s see.<br \/>\n9:36<br \/>\nWhat else do we got who didn\u2019t clear the funds with a check?<br \/>\n9:39<br \/>\nUm, let\u2019s see, legal documents, OK? You can also execute, OK, we\u2019re talking about basic bank accounts there, but if you had an instrument like a deed, a quitclaim deed, that can be executed in advance and not recorded.<br \/>\n9:55<br \/>\nYou can even recorded a quitclaim deed after someone died.<br \/>\n9:58<br \/>\nAnd that\u2019s legal.<br \/>\n10:00<br \/>\nThat\u2019s done with the estate planning and trust. You\u2019d have to look up in your state how that works.<br \/>\n10:05<br \/>\nSo just keep that in mind.<br \/>\n10:06<br \/>\nYou can also see, we\u2019re going to get into, let\u2019s make an account holder. Yeah, OK, so whoever is signing for the account has to use his tax number, SSN, his two forms of ID, likely, maybe some other information. That\u2019s why I say I\u2019d like to limit the number of people that are on the account. It\u2019s really not necessary to have five people sign on the account or even two in many cases.<br \/>\n10:29<br \/>\nYou want to limit the amount of disclosure you\u2019re giving, kay?<br \/>\n10:35<br \/>\nNow if you\u2019ll see in the documents I have the banks do ask for articles for the PM, PMA, and I figured OK.<br \/>\n10:41<br \/>\nIt\u2019s simple enough to just write them up. So I wrote up a page of articles just like I did for the Operating Agreement. Alright, it\u2019s called the banking abstract if you\u2019ve seen this. And these are not the real documents, but it\u2019s enough to where the bank will be happy.<br \/>\n10:53<br \/>\nThat it got something called no articles that it was looking for.<br \/>\n10:59<br \/>\nAll right.<br \/>\n10:59<br \/>\nSo the The PMA never needs a tax number. I know the banks asked for it, That\u2019s all they think about.<br \/>\n11:05<br \/>\nSo just realize that it does not need a tax number N If you just wanted to give them a number a nine digit number.<br \/>\n11:13<br \/>\nYou can make up an a nine digit number.<br \/>\n11:16<br \/>\nI have never done this, by the way, but you can do this.<br \/>\n11:20<br \/>\nThe reason why we give the bank a real EIN for the company, the LLC, is because we want to avoid backup withholding. If you don\u2019t get a real \u2026 in. The banking withhold 30% or something else, OK, or some sort of IRS penalty, and that\u2019s a big mess to get it undone.<br \/>\n11:35<br \/>\nSo that has to be a real EIN.<br \/>\n11:37<br \/>\nOn the PMA, it does not need a tax number for real, but you could tell the bank a nine digit number That looks like an EIN. So it\u2019s two digits dash seven digits. Now the only exception to that is if they insist on an EIN Approval letter, in which case you wouldn\u2019t have one, and I\u2019m not suggesting you should phoney up one.<br \/>\n11:57<br \/>\nIf the Bank wants that, then just say sorry, I can\u2019t can\u2019t give that to you or whatever. But just realize.<br \/>\n12:02<br \/>\nExplain to the bank that the PMA is not the account holder, and that the bank is not required to investigate the PMA.<br \/>\n12:12<br \/>\nBut you could give a A non EIN nine digit number, because nothing is going to be reported to the PMA.<br \/>\n12:20<br \/>\nIt\u2019s only going to be to the LLC, which is a legal entity, and it is required to disclose the certified copy, the articles, and things like that. The PM is not.<br \/>\n12:30<br \/>\nAlright, so, there\u2019s, a couple scenarios are running into lately, I should say, in the last couple of years, Well, This year, really, on the 25%, we started getting away from that.<br \/>\n12:40<br \/>\nWe started using the \u2026, and the banks are saying, we want somebody to be 25%, Or They used to say, if you\u2019re 25%, or more of an owner or beneficial interest, you have to disclose certain information.<br \/>\n12:54<br \/>\nNow, they\u2019re saying, if we bring them documents, that shows the signer has zero interest. Now, the now they\u2019re saying, You have to have 25% interest. It\u2019s really weird.<br \/>\n13:04<br \/>\nAnd so, we asked the bank, OK, what, what, and what company can you work for that will give you 25% ownership in the company? Just so you can sign for its bank account. I mean, maybe you\u2019re just the account. Why do you get to own 25% of the company?<br \/>\n13:20<br \/>\nAlright, so, if the bank is telling you that you need to become 25% owner, say, Fine, I need $4 million to purchase the amount of shares that are required.<br \/>\n13:29<br \/>\nAnd so that just makes the point.<br \/>\n13:31<br \/>\nAnd then response to that question is that as an entrepreneur, you\u2019ve gone to great lengths to manage risk, to figure out how you\u2019re going to do that.<br \/>\n13:41<br \/>\nAnd then you walk into a bank and the employee at the bank has no interest or knowledge of what you\u2019re doing. It starts telling you how to change your interest and change your risk in the company. So this is how you explain it to the person at the desk and you\u2019re gonna say this in his eyes are gonna glaze over, and he\u2019s gonna go, I gotta, I gotta call somebody. You know?<br \/>\n13:59<br \/>\nHe\u2019s going to call somebody, but basically you\u2019re saying, Who are you to tell me how to manage risk? when I\u2019m an expert at it?<br \/>\n14:07<br \/>\nAnd I figured out how I am choosing to manage risk, and I\u2019m just coming in here to get a service from your bank. I didn\u2019t come in here so that you could tell me how to run my business.<br \/>\n14:17<br \/>\nAnd I might do it if you\u2019ll sign a contract saying that you\u2019ll accept all the liability and indemnify me for the risk I was avoiding by not being a 25% owner.<br \/>\n14:27<br \/>\nYou see, and that kind of, shut everything down, and that conversation, and I know, I see that kind of fast, but see, Replay the video.<br \/>\n14:35<br \/>\nThat kind of conversation would come from that.<br \/>\n14:38<br \/>\nYou would have that conversation with the person that the first person calls when the issue comes up at the bank. It\u2019s like the manager, or maybe the in-house attorney or something like that, and they\u2019ll kinda laugh and say, yeah, that makes total sense. And you\u2019re complying with the law anyways, OK?<br \/>\n14:51<br \/>\nThere\u2019s, no, they don\u2019t have all these exceptional disclosure requirements, are investing investigation requirements. So, yeah, and you can just talk to them. I know it\u2019s frustrating sometimes, but we always get the account open. If you\u2019re persistent, we get the account open. I was talking to one lady, we set the set up a company, and she called Bank of America, just like I told her.<br \/>\n15:10<br \/>\nAnd, uh, she was so patient with the person at the bank, and the person at the bank was a total jerk.<br \/>\n15:15<br \/>\nBut when she told me the story I felt so bad for, but she spent all this time answering so many questions, and then the person just said, I\u2019m sorry, we can\u2019t open your account, like after an hour of answering questions.<br \/>\n15:24<br \/>\nSo, um, I said, You know, I\u2019m so sorry, had that, let\u2019s, let\u2019s do this, let\u2019s call back tomorrow. And you\u2019ll get someone else. And more than likely, they\u2019ll just do what they always do. And sure enough, we just did that. And in five minutes, you open the account. So sometimes, it\u2019s just the person you\u2019re talking to. So just realize that.<br \/>\n15:41<br \/>\nYeah. So anyways, I want to go through it kinda quick, because I want to give you guys time to ask questions.<br \/>\n15:47<br \/>\none of the thing is, um, I\u2019m going to mention about the W nine, I use the W nine, just download it from the internet, the official OMB approved form W nine from the IRS. The whole purpose of that is online one.<br \/>\n16:00<br \/>\nI put the name of the LLC, and then I put the actual EIN, and then I sign as authorized signatory.<br \/>\n16:07<br \/>\nI believe we should. We choose it as a disregarded entity and a partnership, I think, is that the checkbox we choose?<br \/>\n16:13<br \/>\nAnd then we just put the LLC\u2019s address and the purpose of that so that when you open an account with a third party that is going to handle the company\u2019s money, or that\u2019s going to pay the company money like through a 1099, when you give them the W nine.<br \/>\n16:26<br \/>\nIt makes it certain, as to who, or what information is going to be on that 1099, or that K one. Sometimes if you don\u2019t give a W nine, what happens is, because these guys aren\u2019t that smart, OK, at the bank. They may actually set up your account, even though you gave them the EA and approval letter.<br \/>\n16:42<br \/>\nThey might use your SSN for the company.<br \/>\n16:47<br \/>\nSo be real careful about that.<br \/>\n16:48<br \/>\nYou\u2019re gonna have problems with the IRS. That, that\u2019s the case. So that\u2019s why we do the W nine. If you want to know, I know a lot of you don\u2019t like doing it, but there is a real purpose there, and I certainly don\u2019t like filling out government forms. But this is really worth it, OK?<br \/>\n17:00<br \/>\nAnd like, if you\u2019re gonna, if you\u2019re gonna go from a personal account at PayPal and you\u2019re gonna convert it because they\u2019ll let you convert it, once you\u2019ve done that, to just make sure it\u2019s done. You send them the W nine with the LLC name on there in the IM. So.<br \/>\n17:13<br \/>\nAll right, well, I hope that was not too fast, and I know you\u2019ve had a chance to read the notes from from last week.<br \/>\n17:19<br \/>\nSo I\u2019m going to let\u2019s see if I can call on some people um, ask questions. I look, I think you could just do raising hands or something. But just go ahead and do that.<br \/>\n17:29<br \/>\nAnd I will, I will call on you and if not, I\u2019ll just I\u2019ll, I\u2019ll keep talking I\u2019ll probably have some more stuff to add in.<br \/>\n17:38<br \/>\nYou can just you can unmute yourself and just ask if you want is that pretty clear?<br \/>\n17:49<br \/>\nWhere were the notes for the last time I? Posted them on the telegram group.<br \/>\n17:55<br \/>\nAre you got a telegram group?<br \/>\n17:57<br \/>\nActually, I\u2019m not sure if I am, let\u2019s do it.<br \/>\n18:01<br \/>\nWhich one is it, \u2026: I can post the link in here, I think. Yeah.<br \/>\n18:08<br \/>\nI\u2019ll post the link, and I\u2019m going to put it right here. Can you guys see in the chat window?<br \/>\n18:15<br \/>\nYeah, here we go, OK.<br \/>\n18:20<br \/>\nAll right.<br \/>\n18:22<br \/>\nI\u2019m gonna mute everybody.<br \/>\n18:23<br \/>\nSo go ahead and if you would one at a time, OK.<br \/>\n18:31<br \/>\nAll right. Yeah, it\u2019s exciting Her other kryptos are doing really well.<br \/>\n18:34<br \/>\nUm, know, you can take profits with the stable coin, so don\u2019t get all excited just because you\u2019re not set up yet. You got plenty of time.<br \/>\n18:41<br \/>\nAll right.<br \/>\n18:42<br \/>\nOpen a bank account for your EIN number, for LLC, you have to disclose, yeah, when you\u2019re the side on a bank account. You\u2019re going to give your SSN just like, I mean, they kinda cut everybody off in the late nineties. I remember, that\u2019s why even came up with a way to do it without an SSN, because I really didn\u2019t want to use an SSN at the bank. But since the nineties, yeah, they make you use an SSN. So, so, what, I mean, it does not create a tax liability.<br \/>\n19:10<br \/>\nLet\u2019s see.<br \/>\n19:12<br \/>\nLet\u2019s see, yeah.<br \/>\n19:16<br \/>\nYou do not have to register. You\u2019re a foreign company, like most of you are setting them up in New Mexico, Wyoming, Arizona, Pennsylvania, for one reason or another.<br \/>\n19:25<br \/>\nYou do not have to domesticate that company where you live. I mean, I know, you walk in the bank, they tell you have to do that.<br \/>\n19:32<br \/>\nNo, you don\u2019t have to do that, If you want it to open at a bank, You can do it over the Internet.<br \/>\n19:37<br \/>\nAnd, yeah, it is a little bit difficult because they try to establish residency and all these things, but we can always get it open. The what. I\u2019m trying to avoid a situation where people that live in California just think that there\u2019s no choice, but to register the company in California That makes no sense at all, because then you bring in a whole world of, you know, California franchise tax Board of things. It\u2019s really not necessary.<br \/>\n19:57<br \/>\nSo I\u2019ll just say this briefly.<br \/>\n20:01<br \/>\nIf you have a foreign company, you just registered in another state and you\u2019re using it, whether or not you own it doesn\u2019t matter, and you want to open an account at a Bank, you can do it over the Internet at the Bank\u2019s Website for commercial accounts in the Branch for the State where your LLC is registered.<br \/>\n20:19<br \/>\nIf you try to walk into the bank in your State where the LLC is not registered, they won\u2019t open the account unless you domesticated that means just registered in your State.<br \/>\n20:27<br \/>\nSo now you have a registered in two States, kind of defeats the purpose. The other way I\u2019ve seen people do it, which is very seldom just drive across the State lines. So, people are so close to that next State. They could just walk into a bank over there. And we rarely have to do that most of the time.<br \/>\n20:40<br \/>\nIn fact, I think, since, around 2009, we\u2019ve been opening accounts over the Internet, so, it should not be much of a problem.<br \/>\n20:50<br \/>\nAll right.<br \/>\n20:52<br \/>\nIs that pretty clear? I really, I want to do this call, because I answer these questions all the time, and I figure if I could just record it.<br \/>\n20:59<br \/>\nIs there any weird situation that I didn\u2019t cover?<br \/>\n21:04<br \/>\nShould I add my, type, an LLC?<br \/>\n21:09<br \/>\nAn LLC is an LLC, I mean, it sounds pretty simple, It\u2019s what the benefits of an LLC or how you use them. The LLC can be used in many different ways.<br \/>\n21:20<br \/>\nWhen you sign up for one, they want to know what kind of LLC.<br \/>\n21:24<br \/>\nYeah, they wouldn\u2019t know, it\u2019s tax treatment. Yeah, and it doesn\u2019t really matter what you tell them.<br \/>\n21:28<br \/>\nLike the EIN application, the state, some states, in fact, Iowa the other day I was looking at their very intrusive about how you\u2019re going to file pay your taxes and all that stuff.<br \/>\n21:37<br \/>\nAnd I just tell them anything, it doesn\u2019t matter.<br \/>\n21:39<br \/>\nBut generally, I call the LLC a partnership and a disregarded entity.<br \/>\n21:44<br \/>\nOK, so disregarded what does that mean?<br \/>\n21:46<br \/>\nSo you don\u2019t know plans to continuing with the company somehow, but you still want an account seemed just means that it\u2019ll be a pass through, and it\u2019s never going to be.<br \/>\n21:55<br \/>\nIt\u2019s never going to be considered a taxpayer by the IRS. That\u2019s what it means, OK? That\u2019s why we\u2019re able to do this. I don\u2019t think we can do this with a C corp. Hey, John? Yeah? Can you hear me? Yeah, let me, I\u2019m gonna mute everybody. If you would, please, just unmute yourself.<br \/>\n22:12<br \/>\nYou would icier Yeah? Go ahead.<br \/>\n22:14<br \/>\nI was trying to cut that noise out.<br \/>\n22:17<br \/>\nJohn, John Millimeter, OK. A few accounts for the LLC, and they\u2019re getting very intrusive. You know. They want to know everything about, you know. I use the example of a real estate investment company, like you talked about, and they want to know exactly. You know what, what kind of real estate investing, where the money coming from?<br \/>\n22:38<br \/>\nSo, I guess my question is, is it gonna be OK in the future where, if we\u2019re all, we all have this set up the bank account and then we all have wires coming over from Australia, from Brown, then maybe we\u2019re all just paint our credit cards with the funds from Carolyn Brown. So, my question, is that gonna hold up? I mean, because they\u2019re very intrusive. Tree Bank accounts open now. And yet, the shot a list of, you know, everything about you or about your company, about, you know, how much you plan to spend, how much you, how are you going to spend it incoming wires, outgoing wires, everything? And so, my question is, is it going to be a problem in the future when we have money coming in from Australia and the account, and then we\u2019re simply paying off our credit card? Because you say, that\u2019s one aspect of credit, or credit card, because the IRS can summon those records. So if we\u2019re all doing that, is that going to cause any problem in the future? There\u2019s two subjects there, one is IRS, and the other is just them collecting information on you. They\u2019re literally, there are separate issues.<br \/>\n23:45<br \/>\nSo, don\u2019t be so concerned about the tax part of it, but they are collecting information, and so, questions like that. It\u2019s so easy to just say, you know, I really don\u2019t know, but we\u2019re probably gonna be able to raise capital, or I\u2019m going to, I plan on raising capital. and I\u2019m learning how to do that right now.<br \/>\n24:01<br \/>\nSo, it sounds like you\u2019re a neophyte, and that really ends a conversation, and if you\u2019re filling out a form, you would fill it out As if I\u2019m geez, I don\u2019t know what this is. I\u2019ve never been asked that before.<br \/>\n24:12<br \/>\nAnd so you just appear as a novice and they really can\u2019t, there\u2019s nothing they can do there. It\u2019s just not true.<br \/>\n24:20<br \/>\nOrganizational Yeah same thing When you have because I think all of us are going to just have the money come from all around. So when they see these wires coming in monthly or bimonthly from Brown. And then you know there\u2019s not money going to wire to Dubai, properties are fixed up. Property gets around it. I\u2019m just throwing this out there. I don\u2019t think they looked at closely. Now, what happens is, your initial stages, when you open the account, yeah, they\u2019re going to ask all this stuff because of collecting data for somebody else, as you\u2019re actually using the account. The biggest concern I have is Financial Crimes Network, OK?<br \/>\n24:58<br \/>\nAnd really gets involved when there\u2019s many irregular transactions, irregular meaning. Let\u2019s call it, we\u2019re gonna use the word standard deviation, so like if I\u2019m doing regular deposits at a similar amount. And then obviously, there\u2019s a huge deposit. Maybe there\u2019s a fence and Report this generated, and maybe Summit Pence, and close the bag as a conversation about it. And then maybe they ask you about it. That could happen. But, that\u2019s, you know, FinCEN is the biggest problem. It\u2019s not the tax situation. Someone\u2019s got really bad background noise. Can everybody meet when they\u2019re not talking? I\u2019m gonna mute them all, so, just unmute again. There\u2019s, there\u2019s some hands up here, I don\u2019t want to leave your debit card for the LLC, for personal expenses are recommended?<br \/>\n25:44<br \/>\nYeah, I mean, it\u2019s convenient, so do that with your LLC, and then if you\u2019re filing 10, 40 is just report it.<br \/>\n25:51<br \/>\nIt\u2019s just part of your income. It\u2019s kind of nice because you have it all itemized! You know?<br \/>\n25:55<br \/>\nSo it\u2019s no big deal to sort of banks not going to go and review the guide. Buying groceries, he\u2019s buying. Stop. You do not going to happen now, but they have been looking at people just buying kryptos. But when so many people start doing it, it\u2019s not going to be a question anymore.<br \/>\n26:10<br \/>\nOther than that, yeah, they don\u2019t, they don\u2019t look at it like that.<br \/>\n26:14<br \/>\nThey don\u2019t, OK, now they don\u2019t, I didn\u2019t notice it.<br \/>\n26:17<br \/>\nEven the IRS, OK. Yeah, the only people that are concerned with, your transactions at the bank completely is not the IRS.<br \/>\n26:25<br \/>\nIt is only the Financial Crimes Network people and the, and by the way, they don\u2019t have enforcement authority. They actually use the IRS for that. So yeah, I guess you could say in that sense, but it\u2019s not about taxes. It\u2019s about the presumption that you\u2019re involved in money laundering.<br \/>\n26:40<br \/>\nSo just do your regular thing and like if I\u2019m going to start sending money off shore, if I have to use the banking system, I would just start doing some smaller transactions and do it over time if I can do that, if it\u2019s, if I\u2019m able to.<br \/>\n26:54<br \/>\nBecause if you start making, you know, a trend, then you\u2019re OK. I\u2019m not saying structuring.<br \/>\n26:58<br \/>\nI\u2019m just saying make a trend. And then you should be fine.<br \/>\n27:02<br \/>\nLike every month, I got like two wires, from Caitlin Brown, something like that. Consistently. Exactly. Exactly. Yeah. Just so that way, like, even if you\u2019re sending it back and forth money the bitcoin of money to Bitcoin. And that way through there\u2019s this Rayleigh thing. I\u2019m not saying don\u2019t go out of your way to do all this stuff. But just keep that in mind, FinCEN is about looking for irregular transactions. And I really don\u2019t know what their algorithm. And I\u2019m just guessing.<br \/>\n27:25<br \/>\nIt\u2019s just Yeah. And then wait, before I\u2019ll let someone else. Can you please post the recording in India Telegram Group, And then And then the last question I have is a lot of us on the crypto J Telegram Group are going back and forth and trying to figure out the difference between the LLC and crypto Js. Trust. Can you touch on that, and I\u2019ll just go ahead and mute. Thank you, OK. Sure, you can use them both for a flow through or a disregarded entity. As long as you don\u2019t file Return form, you can treat them both in that same way.<br \/>\n28:03<br \/>\nI don\u2019t.<br \/>\n28:04<br \/>\nI don\u2019t see anything that you cannot do with the trust that you can do with an LLC, So I think you can do the same things with both. my personal bias.<br \/>\n28:14<br \/>\nOver the years, I\u2019ve just seen trust be attacked by attorneys and courts, and whoever the IRS, I mean, the worst abuse of trust.<br \/>\n28:22<br \/>\nAnd I have to give them, I have to just say to the IRS, I mean, I don\u2019t blame the IRS for doing that, doing it this way, but in the nineties, they were attacking people with trust, and they would never question the trust. What they would do is claim that the trust is a Person\u2019s Alter Ego, and they would literally take all the property.<br \/>\n28:39<br \/>\nAnd I just saw that every week, And I just thought, well, what can I use if it\u2019s not a trust?<br \/>\n28:44<br \/>\nAnd I look at the statutory entity, which is an LLC, and I\u2019d read the case law on it for a year, and I discovered that the courts will uphold an LLC, even if the charter has been expired by the State revoked.<br \/>\n28:58<br \/>\nBut a trust can be attacked, just because it\u2019s just the nature of the beast, OK. A trust is very effective, it\u2019s very useful. I would use those for real estate. But my bias is towards an LLC.<br \/>\n29:12<br \/>\nThat\u2019s all just from what I\u2019ve seen over the years. Alright, I hope that helps, I\u2019m gonna go over to see here, Carlos.<br \/>\n29:25<br \/>\nGo right ahead, Carlos. I see your hands up. I did the Ask to unmute.<br \/>\n29:38<br \/>\nOK, All right, What about Chris?<br \/>\n29:43<br \/>\nDid I do that right?<br \/>\n29:47<br \/>\nHey, John, can you hear me? Yes.<br \/>\n29:50<br \/>\nOK, terrific. I\u2019m in New York, and I guess there are a number of people in state, similar to New York, having issues getting on with the Taleban Brown.<br \/>\n29:57<br \/>\nAnd I actually have a consultation scheduled when she went a couple of weeks, I went ahead and set up the LLC in Wyoming.<br \/>\n30:06<br \/>\nI\u2019ve got an E, I established already, and I was listening, I was on your ancient coins website and following what you do?<br \/>\n30:13<br \/>\nI\u2019m trying to be proactive here and I\u2019m wondering what you would recommend like step forward and do next. Before we have our consultation, I really want to get onto Caleb Brown. Were shut out in New York and the number of others, yes.<br \/>\n30:26<br \/>\nYeah. So, if you\u2019re in New York, well, I\u2019ll give you a couple of options.<br \/>\n30:29<br \/>\none is literally go to the next state over, maybe it\u2019s going to be Pennsylvania, Ohio, those are the best two states and get a driver\u2019s license yeah, I mean, that\u2019s crazy, right? Or let me get you a deal from a state that\u2019s not New York, not Californian either.<br \/>\n30:45<br \/>\nAnd I can go buy it.<br \/>\n30:46<br \/>\nNow, it\u2019s a, it\u2019s a license, but it\u2019s not in the DMV, so you cannot use it to drive, you can use it for banking purposes, and they\u2019ll, they\u2019ll be fine with that.<br \/>\n30:55<br \/>\nThat takes about 3 to 4 weeks.<br \/>\n30:58<br \/>\nSo is there a process obviously, to follow to do that, or do you have any changes in DNA? Or send me some information on that, or Yeah, yeah. All I need is basically the same information you used to get your driver\u2019s license. I need a passport photo. An actual passport photo.<br \/>\n31:13<br \/>\nDon\u2019t, don\u2019t send me a photocopy of your passport. You know, go get one and then.<br \/>\n31:17<br \/>\nSo, I gotta go to my passport office and get a proper.<br \/>\n31:22<br \/>\nYeah, Walgreens doesn\u2019t post Office. Yeah, And then your bio, like whatever appears on your driver\u2019s license, DOB full name, Exactly like it is now, and then tell me what state and then I will order it.<br \/>\n31:35<br \/>\nIt takes 2 to 4 weeks It comes from it out of the country.<br \/>\n31:39<br \/>\nSo it\u2019s all international shipping and it\u2019s about $300 including everything.<br \/>\n31:43<br \/>\nSo this is not a college idea. I get for like a driver\u2019s license. Yeah, yeah, it\u2019s, it\u2019s good. It\u2019ll be good for Beckett, it\u2019s a legitimate DL, but it\u2019s not in the DMV, so, I guess, I guess if it\u2019s not in the DMV, it\u2019s not legitimate but it\u2019s made with the same equipment. It checks out, you can scan it. It\u2019s got all the holograms and everything in there.<br \/>\n32:04<br \/>\nSo, now, when you say, Go state overdue, I do, I have to find somebody who lives over there, or find an address, or, you could do that way. Depends on your preference, I can do either way for you, if you want.<br \/>\n32:13<br \/>\nIf you need to go to the state over, I need to get you some documents.<br \/>\n32:17<br \/>\nAnd then what I\u2019m saying, can you go through the process once I give you all my information On the passport picture, can you have somebody who has an actual address and just plug my name in? Or how does that work? I can get an address, and we can put your name on it. Yeah.<br \/>\n32:31<br \/>\nYeah, we\u2019ll do that. Like, if you picked Pennsylvania or you don\u2019t know anybody there, I\u2019ll get you the address there.<br \/>\n32:36<br \/>\nI\u2019ll get your residential address.<br \/>\n32:39<br \/>\nWow, OK, and everything is legit.<br \/>\n32:41<br \/>\nIt\u2019s all Yeah. Just don\u2019t use it for fraud.<br \/>\n32:44<br \/>\nWe\u2019re all good then and I know you, OK, so yeah.<br \/>\n32:47<br \/>\nYou can give me Yeah, I\u2019d love to get rolling now so I can get if there\u2019s some way to contact you to know Now, but Yeah, e-mail me female Yeah, and I\u2019m I\u2019m so far behind but I\u2019m trying to answer that whatever it comes in the same day like today and then also the oldest I\u2019m trying to close the gap here just just share a single tend to one is on I guess a coin. Such a good.<br \/>\n33:10<br \/>\nYeah, singleton, press at proton mail dot com OK, terrific. All right. I\u2019m looking forward to speaking with gentlemen a couple of weeks. I\u2019ve already shared thing.<br \/>\n33:18<br \/>\nAppreciate your patience to All right, now, we go back to call us.<br \/>\n33:22<br \/>\nYes, hi, Jason. Hey. Hey. Yeah, good. Alright.<br \/>\n33:25<br \/>\nSorry about that. Quick question. Great! Thank you for everything. I\u2019ve already set up a back end, for me. Quick question and they send me a form.<br \/>\n33:34<br \/>\nIt\u2019s like to formula one regarding, to double check that who\u2019s gonna be the authorized signature and the W two for the second generalized version of the W two, is that?<br \/>\n33:48<br \/>\nRight now the IRS don\u2019t do that.<br \/>\n33:50<br \/>\nIs this A, is this an actual W two form or is it a W four?<br \/>\n33:54<br \/>\nNo, know, it\u2019s a W two call schedule. Within a few weeks I will work with you our Cassandra and e-mail so I can see what you\u2019re talking about. Yeah, it\u2019s Bank of America and again it\u2019s like to performance one WSUS. Summarize?<br \/>\n34:11<br \/>\nAwesome.<br \/>\n34:12<br \/>\nI mean, they had me, but it was stopped myself. Never do that. She\u2019ll have so many banks as America, Oh! my gosh, I hate them all, but, Oh.<br \/>\n34:20<br \/>\nIt\u2019s just getting worse, I mean, these guys are on the way out if that makes it easy.<br \/>\n34:24<br \/>\nBecause any constellation, they\u2019re about to be consolidated.<br \/>\n34:27<br \/>\nI don\u2019t know if that\u2019s a good thing. We\u2019ll see.<br \/>\n34:29<br \/>\nThey\u2019re going to have their day, though.<br \/>\n34:32<br \/>\nThat\u2019s crazy, OK? Yeah.<br \/>\n34:35<br \/>\nBecause the basement, when I give your documents to you, that\u2019s it. Sometimes you guys, like, I put a note in the instruction. Sometimes you get a scam. They say you gotta do the certificate and all that normal, That. I guess the banks doing this thing.<br \/>\n34:47<br \/>\nNow whenever you do, when you have your account opened and you get a W two from the bank or some other tax thing, never fill it out. Just because you\u2019re given a form. Don\u2019t fill it out.<br \/>\n34:59<br \/>\nJust wait for them to follow up. You know, ask them what what they\u2019re doing. Google it on the internet. Does it have an OMB number on it is on the top right corner.<br \/>\n35:08<br \/>\nIt\u2019ll say, like. 15, 45.<br \/>\n35:13<br \/>\nI\u2019m not sure. I\u2019m not sure. It says response within four weeks. Wow. All right. Well, that\u2019s good to have a call like this and talk about that.<br \/>\n35:27<br \/>\nIn case you guys hear that, you see something like that, just definitely.<br \/>\n35:30<br \/>\nIt\u2019s like it\u2019s almost like a spam, you know, like spoofing.<br \/>\n35:36<br \/>\nAll right, So, let\u2019s go to, sorry, that was Carlos, and then Chris, and then I\u2019m gonna, I\u2019m gonna go to Sun here, What\u2019s good?<br \/>\n35:44<br \/>\nOnsen: Hey, John.<br \/>\n35:46<br \/>\nHey, I had a quick question. So, on the banks where you\u2019re opening, now, they have a little place that you check, or they ask you a question, if this is for crypto investing, too.<br \/>\n35:57<br \/>\nSo, do we just say no, or how do we, if you say no, and then you send money to Coinbase, they\u2019re probably gonna close your account. Caleb and Brown. They know what they know what that is. The words out.<br \/>\n36:14<br \/>\nSo then they would close it, maybe that you\u2019re risking that.<br \/>\n36:19<br \/>\nGot it. So, so you would have to say, yes.<br \/>\n36:22<br \/>\nI would say, yes, just to avoid the drama.<br \/>\n36:24<br \/>\nBut remember, when, well, when I organized a company or when you do it, I would say that\u2019s organized for all purposes and something else. Yeah, so you can pretty much do anything. I didn\u2019t know what you tell the bank.<br \/>\n36:35<br \/>\nIt\u2019s already able to do whatever it wants.<br \/>\n36:37<br \/>\nBanks is trying to collect information on it, Got a red flag that then they wouldn\u2019t open the account for you. Let me say some about red flags.<br \/>\n36:45<br \/>\nI\u2019ve never seen one exception.<br \/>\n36:48<br \/>\nWhen I was playing flag football guy in junior high school, I remember I\u2019ve never seen a red flag with the IRS, OK. Yeah, OK.<br \/>\n36:57<br \/>\nWe have this perception that we\u2019re being watched all the time. Yeah, we are being watched. But just do the right thing, don\u2019t lie on forms and about money and stuff.<br \/>\n37:06<br \/>\nBut then again, don\u2019t give up a lot of data and that\u2019s it. You\u2019ll be fine.<br \/>\n37:11<br \/>\nThe choke points are when you file a return.<br \/>\n37:14<br \/>\nOr you get a 1099 or W two in your personal name with your SSN, those cause a problem.<br \/>\n37:24<br \/>\nOutside of that, we can control everything.<br \/>\n37:26<br \/>\nOK, and then also, the 10, 40, I guess, the IRS has put up, also a checkbox under.<br \/>\n37:34<br \/>\nYou have to check if you have invested into crypto. Crypto, tell the truth. It\u2019s so easy to say, Yeah, I bought it.<br \/>\n37:42<br \/>\nAnd technically, if you put money into a company that you don\u2019t own, and then that company bought kryptos, that\u2019s not your money.<br \/>\n37:50<br \/>\nSo, I mean, if you want to play that, you could do that too. It\u2019s not a problem because you could say yes, if you send it to Caleb. you could say no, because you can send it around, and they bought it.<br \/>\n38:00<br \/>\nIf you have an LLC account in which the owner\u2019s a PMA, that that\u2019s, that\u2019s another reason why I did it.<br \/>\n38:07<br \/>\nBecause the people in Canada, I did it for them, because that way, whatever their system is, and in the UK, they can just clearly say, no, I don\u2019t know any of those kryptos, What, do you call them Again.<br \/>\n38:17<br \/>\nYeah, But just just tell the truth, I remember on the 1040, it\u2019s not a financial question, but just the same.<br \/>\n38:24<br \/>\nIf they want to accuse you of lying, correct, you know, it could be a problem.<br \/>\n38:30<br \/>\nI haven\u2019t seen that yet, but uh, they just want money, you know, they\u2019re not really trying to put people in jail unless you\u2019re famous.<br \/>\n38:36<br \/>\nOK, I guess I missed the first part of the thing, because this account, the second account I\u2019m trying to open, they came back to be asking for the, they put me as 100% on. Or I said, I\u2019ve already told you guys many times.<br \/>\n38:51<br \/>\nAnd please edit this because they put me as a signer, which was fine, and then they keep asking, wow, me, they always say that. Yes, they have to abide by the articles.<br \/>\n39:02<br \/>\nJust go back and forth and have them keep switching back, and wait, I would wait. I wouldn\u2019t do anything yet.<br \/>\n39:09<br \/>\nJust go use the account.<br \/>\n39:12<br \/>\nThis new one that I\u2019m trying to open, just think, is something wrong with the other one?<br \/>\n39:17<br \/>\nOr they can issue. Yeah, let them do it. Don\u2019t go back and forth with trying to fix it right away. Just use the account for awhile.<br \/>\n39:24<br \/>\nLet seasoned a little bit because the, uh, certified copy, the articles that are on file with the state, are binding on everybody.<br \/>\n39:32<br \/>\nThat means, if I say that I\u2019m not an owner on the articles and the bank has me in their data and its database as an owner, mm, hm, their database doesn\u2019t matter.<br \/>\n39:44<br \/>\nOnly the articles matter for liability purposes.<br \/>\n39:49<br \/>\nIf they don\u2019t abide by the articles, then the bank is liable.<br \/>\n39:52<br \/>\nSo, if they do something wrong, they\u2019re on the hook for it.<br \/>\n39:57<br \/>\nRecord or business, that doesn\u2019t affect you.<br \/>\n40:00<br \/>\nYeah.<br \/>\n40:01<br \/>\nIt doesn\u2019t affect you, I mean, yeah, you\u2019re not gonna have a problem with it, so, but I would just say get your account open, and then let it get seasoned no, few months.<br \/>\n40:11<br \/>\nThat will pass that probationary period.<br \/>\n40:14<br \/>\nGreat, Thanks.<br \/>\n40:14<br \/>\nYeah, All right, I don\u2019t want to miss anybody here. Let\u2019s see, how about done?<br \/>\n40:20<br \/>\nHey, Don, What\u2019s going on?<br \/>\n40:22<br \/>\nHey, How are you doing John? Great. Yeah. Yeah. Likewise hey, let me tell you something by the way. I know I speak for a lot of people. We love you, man. I appreciate that. Thank you. You\u2019re so generous. I was just wondering, because I sort of, you know, I sort of left things where we Have? We got, it\u2019s probably been a year. And I was wondering, do you have anything that\u2019s sort of like a, just a diagram that kind of, shows the right path.<br \/>\n40:50<br \/>\nLike you buy from here, you put it here, it goes from here, and basically just something that kind of shows how you sort of have access, but, but avoid liability.<br \/>\n41:01<br \/>\nYeah, that\u2019s a good idea. I\u2019m going to do videos, unexampled transactions, I\u2019ll be really short, like, here\u2019s how you buy a car. Here\u2019s how you buy a house.<br \/>\n41:07<br \/>\nThere\u2019s a couple ways to do each, OK. That\u2019s combat particularly with the cryptocurrency, I mean, I\u2019m sure it\u2019s simple, but that I\u2019ve been kind of dip down running my business for awhile here. Things have been going well, by the way. Thank you.<br \/>\n41:20<br \/>\nBut I kind of I lost touch with everything.<br \/>\n41:22<br \/>\nI\u2019ve been just doing some dollar cost average buying and just a couple of the video, you know regular Bitcoin and the and the other one the I can\u2019t remember the other one is \u2026.<br \/>\n41:35<br \/>\nAnyway, I have decided body of the exotic starting, I haven\u2019t gotten any other, but I would definitely like to start doing something consistently, and I\u2019d like to be able to cash out without, you know, creating my belief for myself.<br \/>\n41:51<br \/>\nSo, and, or, and, or have access to the funds without creating liability. So, if there was anything that just kind of showed, this is the, this is the path of the of the money, OK.<br \/>\n42:01<br \/>\nAnd if you\u2019ve got something like that, that would be fantastic. That\u2019s a good idea of charts, are a good idea, I didn\u2019t really think about that. But I\u2019ll do charts, because a lot of people learn quickly, but the picture and then, in fact, what I will probably end up doing is get a car dealer on a call with me and we\u2019ll do a conversation. What would you do if I came in your dealership?<br \/>\n42:17<br \/>\nAnd, you know, we can have that conversation, but yeah, charts are a good idea, but basically anytime you have a personal benefit from, you know, third party money, it\u2019s really considered income.<br \/>\n42:29<br \/>\nOK, so whether someone sees it, you should probably just assume everyone sees it, don\u2019t try to hide it.<br \/>\n42:36<br \/>\nSo, so, how do you avoid it? How do you And basically, how do you Obviously, the goal is to, Is to minimize, you know, in fact, completely avoid, if possible, any tax, liability, because it\u2019s not their money anyway.<br \/>\n42:53<br \/>\nYeah, Yeah, so, so that\u2019s Just you want to take profits. As I was talking about? I\u2019m saying, I\u2019m saying, I want to be able to take profits. I want to be able to cash out. I want to be able to just I want to be able to move it around and move it around in a way where I\u2019m not you know, getting myself connected to it in a way that creates a liability for this is what I\u2019ve been doing for many many years. And, let\u2019s say, I want to move money from a company, I\u2019ve got going, something\u2019s going on here, and I want to go over here for something, And let\u2019s say it\u2019s $25,000.<br \/>\n43:22<br \/>\nJust simply write a check from this company to that company, and then keep on going, there\u2019s no tax issue there.<br \/>\n43:28<br \/>\nI don\u2019t have to create a contract between the companies, right? Just, I\u2019m just moving at one asset to another, you know? I don\u2019t have a gain on that deal.<br \/>\n43:35<br \/>\nSo, no paperwork, no 10 ninety nine\u2019s, OK, yeah, that\u2019s not simple. If I want to buy something like a car, something, you know.<br \/>\n43:45<br \/>\nIt\u2019s going to be priced in the dollar. There\u2019s no way around it.<br \/>\n43:48<br \/>\nSo I want to make sure it\u2019s not title of my name when my cottage buys it, or if it\u2019s in my name, maybe because it\u2019s easier with the insurance company, and registration, then I\u2019ll just put a lien on the car.<br \/>\n43:58<br \/>\nAnd the way I do it is, my company, who, who\u2019s paying for the car, is going to be the lender instead of the buyer.<br \/>\n44:06<br \/>\nGot it.<br \/>\n44:08<br \/>\nThat\u2019s another example house. Almost the same thing.<br \/>\n44:11<br \/>\nInvestment, just like I just described, if I\u2019m paying cash for an apartment complex.<br \/>\n44:15<br \/>\nLet\u2019s say it\u2019s $5 million, I can just put the money over there I go into escrow.<br \/>\n44:19<br \/>\nI can go from Bitcoin through Escrow and as of about six months ago, we had it, we have a service now. It\u2019s my partner who does this. I don\u2019t have an interest in the company, but I do get part of the Commission.<br \/>\n44:29<br \/>\nSo, just so you know, if you have coins and you want to put it in something, real estate, through escrow, you open up an escrow agent, account, wherever you are comfortable with whatever escrow agent you want to work with, that agent will likely not be able to source dollars for the coins, but we can do that for the agent.<br \/>\n44:45<br \/>\nGive us the coins, We give your agent the dollars, there\u2019s no tax issue, you\u2019re closing the deal and then do the thing at the end, and you\u2019re fine.<br \/>\n44:53<br \/>\nSo there\u2019s some variance for some.<br \/>\n44:54<br \/>\nYeah, Wow, Wow, that\u2019s going to be exciting. When we will be doing a lot of good things. I can\u2019t wait. So everything. Everything folds up with these banks. My God, I\u2019ve been waiting for my whole life. Yes, please already consolidate, shut them down.<br \/>\n45:10<br \/>\nYes, sir.<br \/>\n45:11<br \/>\nWell, anyway, thanks again, John. John.<br \/>\n45:14<br \/>\nAll right.<br \/>\n45:16<br \/>\nSaying Chris, I think you were, there, I miss anybody. There\u2019s some written ones here, let me see. Tesla is now accepting Bitcoin, Yay. We\u2019re purchasing a test, be a non taxable event.<br \/>\n45:26<br \/>\nIt\u2019s the same thing I just described because a vehicle is going to be considered denominated in the dollar.<br \/>\n45:33<br \/>\nSo even if you bought it with Bitcoin, it\u2019ll be seen by the IRS as you receiving dollars, whoever paid for that.<br \/>\n45:41<br \/>\nSo again, title it and another name, or make it as alone, put a loan on there.<br \/>\n45:48<br \/>\nThat helps.<br \/>\n45:49<br \/>\nAnd then, OK, somebody had a quick question, Oh, I think I got Carlos.<br \/>\n45:53<br \/>\nLet me tell me caused by mischief.<br \/>\n45:56<br \/>\nand then closing on a property, wondering if I can switch from, yeah, what you can do is if you, if you get a closing date on some real estate and you want to close the sale of the property and accompany, you would simply record a quitclaim deed in the county.<br \/>\n46:09<br \/>\nSince video.<br \/>\n46:11<br \/>\nYeah, OK, stumble upon a video and then I realized, I was, I was closing, are really soon, So I just try and get hold of you, but I know you\u2019re very busy. So I did it anyways. Quitclaim deed has told me about, I didn\u2019t, I, remember, you were saying, like, Oh, I used to address an LLC, but I have this Blockchain trust, LLC, so you\u2019re saying I could hold it, you could do that.<br \/>\n46:35<br \/>\nYeah, You could.<br \/>\n46:35<br \/>\nYou could put real estate in the same LLC that owns your kryptos because you\u2019re not combining unlike risks. And it\u2019s just like, it\u2019s just like your house.<br \/>\n46:45<br \/>\nYou know, you own your house, let\u2019s say, and you have a bank account.<br \/>\n46:48<br \/>\nThat\u2019s no big deal there, Right.<br \/>\n46:50<br \/>\nYour LLC has a crypto account.<br \/>\n46:54<br \/>\nYeah, ultimately you want probably want to separate that out, but it\u2019s not a big deal.<br \/>\n46:58<br \/>\nAlso, really like the operating agreements segment, that it holds will sit at tables anyways, it doesn\u2019t matter. I mean, it\u2019s for all lawful purposes. Your operating agreement can be in, like gibberish, doesn\u2019t really matter the article. Say, you could do whatever you want, you know. Exactly, you know anything legal.<br \/>\n47:14<br \/>\nSo yeah, it\u2019s very simple.<br \/>\n47:15<br \/>\nYou go back to how you got the title, was a quitclaim deed was executed naming you as the grantee.<br \/>\n47:23<br \/>\nSo now you would be the grand tour naming your LLC as the grantee before the closing date.<br \/>\n47:28<br \/>\nJust make sure that you can assign that sales contract, so just go to the buyer and make sure he or she is good with that.<br \/>\n47:35<br \/>\nThey should they should be. It shouldn\u2019t be a problem, even like, what are your title person just told to tell the broker to just random amendment and just change your name, everything will be good wants to switch to LLC?<br \/>\n47:52<br \/>\nYeah. But, OK, those guys don\u2019t like to do that.<br \/>\n47:55<br \/>\nYou would think that they would just do that. It don\u2019t trust them to do that.<br \/>\n47:58<br \/>\nThat\u2019s why I say, prepare quitclaim deed and maybe they\u2019ll do that for you. It just depends on what kind of service they like to provide. A lot of times, they try to discourage you from doing that, just because, I don\u2019t know.<br \/>\n48:07<br \/>\nThey just want to do it their way.<br \/>\n48:10<br \/>\nOr they\u2019ll tell you, that\u2019s stupid. You know, whatever.<br \/>\n48:13<br \/>\nYou do a quick claim to eat The same way it was done, when you got the title to the new LLC.<br \/>\n48:19<br \/>\nMake sure the, the, the buyer is OK with that.<br \/>\n48:22<br \/>\nEven if the contract is not assignable, you can, You can assign it as long as the no buyer says, yeah, fine, it doesn\u2019t affect him at all.<br \/>\n48:30<br \/>\nAnd record that quitclaim deed, because once you do that, everybody has to conform to the fact that the new deed holder is the LLC.<br \/>\n48:40<br \/>\nYeah, because they were submitted to the county clerk. British. Yep. So I guess I\u2019ll have to talk to seller in the recruit. Oh, you didn\u2019t tell him first? Oh, by the way, my house away, or do you still want to buy it, yeah. Just just tell it to, it\u2019s just a medic will just timing, and what does that?<br \/>\n49:04<br \/>\nLauren said, Danny devito, where he said It was a procedural something, was it was It was a procedural matter, you was filing bankruptcy, right?<br \/>\n49:15<br \/>\nDanny Devito, he\u2019s filing bankruptcy.<br \/>\n49:17<br \/>\nMillimeter, hmm. Because it\u2019s a, It\u2019s a technical procedure. Just call it the buyer to as a technical procedure. I don\u2019t have the house anymore. Hey, is it OK if we sign the contract to the new owner, now, you\u2019ll be fine.<br \/>\n49:29<br \/>\nBut it\u2019s always good to get them involved. You have the right to do that thinking. This way, you still have the beneficial interest. So, technically, you didn\u2019t give the house away, OK?<br \/>\n49:43<br \/>\nUh, yeah. OK.<br \/>\n49:45<br \/>\nNow, the other side of this, there\u2019s one little aspect in California, and in Florida, and maybe some other states, There may be 8% tax, they call it a documentary stamp tax, if you want to get exempted from, that asked the County Recorder. Or you can find it on the internet.<br \/>\n49:57<br \/>\nNow, for the form That, it asks you what type of exemption, and so, the type of exemption you\u2019re gonna get is, because you\u2019re transferring the title from your, from your own name, to the name of a company in which you have beneficial interests.<br \/>\n50:10<br \/>\nAnd I don\u2019t care who the members are, so don\u2019t worry about that. And then there\u2019s a checkbox form. And then like in California, there\u2019s little code you put enough. There\u2019s like 191, 25 or something like that. And it just says that conveyances for estate planning purposes, so it\u2019s exempt from the stamp tax.<br \/>\n50:27<br \/>\nCalifornia and Florida have that.<br \/>\n50:29<br \/>\nSo it sounds like you didn\u2019t run to that person in Mexico.<br \/>\n50:32<br \/>\nYeah, it sounds like he didn\u2019t run into that Because he would have been talked about by NASA. OK. I just want to say, for anyone else who\u2019s on the call, them. All right, let\u2019s see, I\u2019m a nice environment, OK? closing all right, and then create a traffic.<br \/>\n50:45<br \/>\nYou could, you could make a trust, the same name as an LLC, and so the series of letters that is the name is designated by the word trust or the LLC abbreviation.<br \/>\n51:00<br \/>\nOK, so that makes the distinction that it\u2019s very important, even a capital letter. If all the letters are the same and there\u2019s a capital letter in one phrase and a lowercase letter and another, there are two different entities.<br \/>\n51:12<br \/>\nSo, yeah, you could do that. I probably would not do that.<br \/>\n51:16<br \/>\nBecause you can see already, what kind of, what do you call it?<br \/>\n51:20<br \/>\nPeople, we have to deal with it, The bank, so I wouldn\u2019t give them any anything more difficult to deal with.<br \/>\n51:27<br \/>\nAll right.<br \/>\n51:28<br \/>\nYeah. Thanks, Don. I am gonna, I\u2019m gonna keep that idea that the chart is gonna be great.<br \/>\n51:33<br \/>\nKeep it in your makeup.<br \/>\n51:36<br \/>\nWhat is the question here about keep it in your LLC name, or buy Gold?<br \/>\n51:41<br \/>\nI don\u2019t know.<br \/>\n51:45<br \/>\nHe wanted to know where to put the, how to transfer the money into his name, to buy something. And I\u2019m just saying just keep it in your seasoning.<br \/>\n51:55<br \/>\nOr you can have the LLC buy. Gold then. Right.<br \/>\n51:58<br \/>\nYeah. Do that by gold that default make the Vault account holder your LLC, or if you\u2019re going to take possession like, if I bought from provident metals. I have a 1099. I think, I sold them from Silver the other day.<br \/>\n52:09<br \/>\nAnd they sent me 1099 from last year, I\u2019m sorry.<br \/>\n52:11<br \/>\nI guess it was last year, and it had my company on there, so that\u2019s what you want to do.<br \/>\n52:16<br \/>\nYou want to use your LLC to do that, to buy gold, or sell.<br \/>\n52:21<br \/>\nThen, let me just go back on that, on that daily expense.<br \/>\n52:23<br \/>\nOr, hey on, your living expenses that you just can\u2019t get away from, because reasonably, everyone has a certain amount of living expenses. I mean, you don\u2019t need $5 million a year to live.<br \/>\n52:35<br \/>\nBut maybe 100,000 is good, or 50 for some people.<br \/>\n52:39<br \/>\nSo, if you have like $12,000 a year, it\u2019s probably not realistic.<br \/>\n52:44<br \/>\nSo, you can\u2019t justify that.<br \/>\n52:46<br \/>\nSo what you want to do is, if you really want to get rid of that as a taxable income reporting thing, you could fund a whole life policy and then borrow the money out.<br \/>\n52:56<br \/>\nAnd use after tax money. The way you do it, is you just pay the interest in advance, and be done with it. So now you have after tax money and you\u2019re making interest on it. You have your living expenses, and it\u2019s after tax money, and yeah, you have zero taxable income at that point. If you want to do that, it\u2019s not necessary.<br \/>\n53:13<br \/>\nI\u2019d say, I just think that the purpose of a whole life policy in that example is really to manage a better type of risk, not just living expenses, That\u2019s not really a, a good risk.<br \/>\n53:24<br \/>\nIt\u2019s just something we all have.<br \/>\n53:26<br \/>\nWhat I suggest is, use a whole life policy to borrow out the operating cost of one of your assets and increase the margins so you\u2019re making more money on it.<br \/>\n53:35<br \/>\nThat.<br \/>\n53:35<br \/>\nThat, I think, makes better sense, because now my books look really good, right, in a couple of years, and if I go to sell the asset, I probably get top dollar for it. So use the tool for what it\u2019s intended. Insurance is risk management. It\u2019s not a way to make money, like in the stock market, or something like that.<br \/>\n53:53<br \/>\nOK, yeah, and I\u2019m gonna get I\u2019m gonna put this recording on the telegram group.<br \/>\n54:01<br \/>\nIt will be in the Paid Members area, eventually though.<br \/>\n54:04<br \/>\nI may. I may add some parts to it in some documents, and things like that.<br \/>\n54:08<br \/>\nAll right, and let\u2019s see. Yeah.<br \/>\n54:12<br \/>\nSay that, OK, So, some kryptos dollars, yep, OK.<br \/>\n54:21<br \/>\nSo, if you sell an asset or Coin\u2019s using your LLC account.<br \/>\n54:28<br \/>\nYeah, you can take the money that you, that your LLC got from selling coins and you can buy something with it.<br \/>\n54:36<br \/>\nYeah, and you could use that same LLC to take the title of the real estate, That would avoid a tax liability, that\u2019s the simple version.<br \/>\n54:45<br \/>\nJust do it in the name of the LLC and nothing wrong with that.<br \/>\n54:50<br \/>\nAll right. I wanna make sure I didn\u2019t miss anybody.<br \/>\n54:55<br \/>\nDoes scrolling here, anybody want to ask something?<br \/>\n55:01<br \/>\nDid I miss anybody?<br \/>\n55:04<br \/>\nHey, John, I\u2019m not sure if you answered the one about the trust if you\u2019re opening a bank account under the trust.<br \/>\n55:11<br \/>\nIs that OK?<br \/>\n55:12<br \/>\nLLC? Bank account.<br \/>\n55:15<br \/>\nYeah, exactly.<br \/>\n55:16<br \/>\nYou\u2019re gonna give them the same thing and the trust can be an unregistered trust I guess they call it.<br \/>\n55:23<br \/>\nYeah, it\u2019s an un incorporated trust unregistered. It can be an unregistered or registered LLC is always registered. But yeah, they\u2019ll ask you for the same information, EIN. They\u2019ll ask for some components of the trust, maybe like a Declaration of trust. So you want to have that ready.<br \/>\n55:38<br \/>\nI don\u2019t believe you have to disclose the beneficiaries. It just depends.<br \/>\n55:42<br \/>\nKnow, the bank could just say Whatever it wants. So try to give them the least amount of information.<br \/>\n55:47<br \/>\nOK.<br \/>\n55:47<br \/>\nSo, yeah, if the trustees the signer, so if you want just the trustee to be on there, if they keep asking for all the information of the trust, like the beneficiaries and the successors, is there a way to just say You don\u2019t need that information? Is that same as the banking memorandum?<br \/>\n56:05<br \/>\nYeah, you could, they they fulfill their duty when they get the trustees\u2019 information OK. They will always ask, because you know, they\u2019re collecting it for third parties.<br \/>\n56:15<br \/>\nOK, so you could give them the Banking Memorandum Act, and just kinda try to press that, Yes.<br \/>\n56:23<br \/>\nYeah, I don\u2019t like it.<br \/>\n56:24<br \/>\nI mean, if you don\u2019t feel comfortable, whatever, go to another bank. There\u2019s plenty of banks. I mean, usually when I talk to somebody, they only know bike to, bank brands, you\u2019d be surprised, we don\u2019t just pay attention to that stuff.<br \/>\n56:33<br \/>\nSo if you go on the internet and search for a bank, in a particular area, you\u2019ll find like, 8 or 12.<br \/>\n56:40<br \/>\nDid you forgot about, like PNC bank, you know, or TD Ameritrade, or something like that? TD Bank?<br \/>\n56:46<br \/>\nSo just shop around.<br \/>\n56:48<br \/>\nSometimes you kinda have to do with the bank wants.<br \/>\n56:50<br \/>\nBut, um, lots of times, you could just callback, go to a different branch.<br \/>\n56:59<br \/>\nHey, John, with a credit card in the IRS, the same thing holds true with the prepaid cards. If I fund a prepaid card for my LLC, that\u2019s also going to be exempt from any of the areas that are going to see it. And technically, it\u2019s your income, but it will pretty much be invisible.<br \/>\n57:16<br \/>\nYeah, right, OK, yep. Worst-case scenario in that.<br \/>\n57:20<br \/>\nI mean, if you don\u2019t report something, really, there\u2019s no reason, I mean, gosh, if you\u2019re making millions of dollars, and you\u2019re really understanding what you\u2019re doing, who cares if you pay tax on $100,000 a year?<br \/>\n57:31<br \/>\nIf you\u2019re paying tax on $500,000 a year, I\u2019m probably gonna make fun of you, OK? Because you don\u2019t need to do that.<br \/>\n57:38<br \/>\nYeah, it shouldn\u2019t be an issue.<br \/>\n57:42<br \/>\nUm, but they could just worst cases they could send you.<br \/>\n57:46<br \/>\nNotice for, And underreporting is what they call it.<br \/>\n57:50<br \/>\nIt would be what\u2019s called an examination changes notice, on form 4549.<br \/>\n57:56<br \/>\nIt\u2019ll, it\u2019ll save for underreporting and there\u2019ll be penalties on there.<br \/>\n58:01<br \/>\nI haven\u2019t seen that though.<br \/>\n58:03<br \/>\nI know that. But again, they\u2019re not gonna know unless you, unless you own yourself, like you said it to pass through. So, they\u2019re pretty much not gonna know that much not, unless you, Unless you buy a car for cash. And then that raises a flag, yada, yada, yada. Yeah.<br \/>\n58:16<br \/>\nIf it\u2019s large amounts of money, then sure. Yeah, you buy a Lamborghini, you know, or something like that, it\u2019s going to just be weird. Yeah.<br \/>\n58:22<br \/>\nBut again, you\u2019d have to be audited probably for them to see it.<br \/>\n58:27<br \/>\nAll right.<br \/>\n58:29<br \/>\nIf I\u2019m buying a Lamborghini, which I would never do, I would just put the money into an LLC account only for that car.<br \/>\n58:36<br \/>\nIf I\u2019m going to buy a yacht and by the way, if you guys want to make a big ticket item purchase, let me know I\u2019ve got people that I can connect you with, People that I can connect you with.<br \/>\n58:44<br \/>\nThey\u2019re not my people.<br \/>\n58:46<br \/>\nThere are services and these services do things like for example, if I want to buy a yacht, what they\u2019ll do is create the budget for the yacht. So I know what the operating costs are for the yacht and they will help select the crew if I want that. And they will also help select the jurisdiction in which the ship is going to be flagged.<br \/>\n59:04<br \/>\nAnd also set me up with insurance and all that stuff. They\u2019ll do all that, hand me, the documents. It\u2019ll be like a big, thick book, right? And I can, I can buy the yacht through that agent.<br \/>\n59:13<br \/>\nIt\u2019s kinda cool, that holds true for a high ticket item. High price RV also.<br \/>\n59:18<br \/>\nProbably, yeah, totally. I haven\u2019t looked for that one, but yeah, they do. They do big ticket items around the world. So you want to buy some in the Seychelles Islands, or some? You know, you went about yod out there.<br \/>\n59:29<br \/>\nYeah, they could, sure, they can do cool stuff, So yeah, let me nice. Yeah, some videos on that too.<br \/>\n59:35<br \/>\nSo we\u2019re gonna, we\u2019re gonna do some cool stuff, But um, let\u2019s go with them, did you have anything else?<br \/>\n59:42<br \/>\nOK, appreciate that, alright, OK David.<br \/>\n59:45<br \/>\nCalling you.<br \/>\n59:50<br \/>\nI think you\u2019re able to say something. You\u2019re unmuted, I think.<br \/>\n1:00:03<br \/>\nDavid, you\u2019re right in there.<br \/>\n1:00:05<br \/>\nAll right.<br \/>\n1:00:05<br \/>\nMaybe he stepped away KJ.<br \/>\n1:00:09<br \/>\nGo right ahead.<br \/>\n1:00:14<br \/>\nOK hey so this is my question.<br \/>\n1:00:19<br \/>\nDo I have to be concerned when I\u2019m taking windfall from Caleb and Brown?<br \/>\n1:00:24<br \/>\nThe size of a wire transfer?<br \/>\n1:00:27<br \/>\nOr am I find because it\u2019s set up as a, you know, an LLC, it\u2019s an entity.<br \/>\n1:00:34<br \/>\nIt\u2019s a business and as wire transfers so the mail doesn\u2019t really matter.<br \/>\n1:00:38<br \/>\nYeah, the titleholder doesn\u2019t really matter in that case.<br \/>\n1:00:40<br \/>\nWhat matters is the unusual nus are the regularity of that transaction.<br \/>\n1:00:46<br \/>\nIf you\u2019ve never done a large wire before, maybe you only did like 50,000 at a time, and now it\u2019s $5 million.<br \/>\n1:00:52<br \/>\nMaybe they\u2019ll, they\u2019ll want to hold on to it just just to use your money for awhile, and they\u2019ll say that they have to investigators.<br \/>\n1:00:59<br \/>\nYeah. They\u2019ll probably do that.<br \/>\n1:01:00<br \/>\nI just really feel uncomfortable about any larger amounts wiring across the world, you know, between countries, if you can, try to use your coins to move them somewhere, that you don\u2019t, you don\u2019t have to wire it.<br \/>\n1:01:14<br \/>\nLike, use your Killen Brown Bitcoin wallet.<br \/>\n1:01:19<br \/>\nGo into your Bitcoin wallet at some other, you know, wallet exchange or something in the States or wherever you are.<br \/>\n1:01:25<br \/>\nI see. So, so, you, maybe you\u2019d recommend moving it into a crack. And then doing it through that exchange rather than through Caleb and Brown, right. I really think you can avoid a wire transfer altogether.<br \/>\n1:01:37<br \/>\nOK, yeah, I think so, and then, and then maybe just starting with, you know, some conservative amounts to begin again. It\u2019s like the EK to build some kind of patterning, right? I would do that. I really, you know, I wish I will never know what they are.<br \/>\n1:01:54<br \/>\nCriteria are, but I\u2019ve done things before where I just kind of guessed. And, I don\u2019t know, maybe I was, it was the right thing to do. Like, when we go on vacation, I\u2019ll just take a blank check.<br \/>\n1:02:03<br \/>\nAnd I use it as a bookmark on the plane, or I\u2019m reading a book, We get over there. The next day, we go open a bank account, or go to our bank account we had from the last visit. And we just write the checkout right at the counter, and include the funds, and the differences. I didn\u2019t wire from the states, I had a foreign bank present. A check.<br \/>\n1:02:19<br \/>\nBack this way.<br \/>\n1:02:21<br \/>\nSo it\u2019s not in that same profile, and I\u2019ve never had a problem.<br \/>\n1:02:25<br \/>\nSo, I\u2019m just, Yeah.<br \/>\n1:02:28<br \/>\nYeah, just to unpack that. So say you go to Mexico, you bring a blank check as a bookmark, and then you\u2019ll go to an account and open up an account.<br \/>\n1:02:37<br \/>\nAnd Mexico with whatever 20, OK? Or something like that. To start to plan your vacation or your business, or have the account open already, or open the account with $100.<br \/>\n1:02:48<br \/>\nAnd then come back the next day and put a bigger check. And I don\u2019t know. You have to guess, but, yeah, that\u2019s the idea.<br \/>\n1:02:54<br \/>\nJust how does not look like an unusual wire. But always avoid wire if you can.<br \/>\n1:03:01<br \/>\nUse. I mean, we got the technology, now, we got Kryptos.<br \/>\n1:03:05<br \/>\nI know, but the problem with that is that, like Jay says, we\u2019re not going to Coinbase and crack in now.<br \/>\n1:03:12<br \/>\nWell, we want to sell coins and cash out. Like she said in 20 17, it couldn\u2019t cash out, because it was just, they wouldn\u2019t do it, right? That\u2019s what I can, round, is so key that we\u2019re making actually cashed out wire, and if we can\u2019t cash out five million or a million dollar coin base and they\u2019re not gonna catch us out. Oh, yeah. What do we do? We have to be able to go to a stable coin.<br \/>\n1:03:33<br \/>\nThat would be number one. I would go to stable coin first.<br \/>\n1:03:37<br \/>\nSure, But then if we all want cash to buy something with them, We\u2019re going to have to cash it out at some point unless the receiver is going to take a stable coin or bitcoin. We can do it that route to that maybe a year or so down the road.<br \/>\n1:03:49<br \/>\nYeah, yeah, but for right now, I mean you could use escrow, there\u2019s one way.<br \/>\n1:03:52<br \/>\nSo, um, OK, you could, you could put Bitcoin into escrow, like whether or not use my service or it works out with another escrow agent.<br \/>\n1:04:00<br \/>\nThe money the cache gets wired or not wired, but Sold, OK, so your your coins being transferred to another wallet and then sold and then it\u2019s not being, it\u2019s not becoming a wire transfer.<br \/>\n1:04:13<br \/>\nRight.<br \/>\n1:04:14<br \/>\nSo if for instance, I want to buy, know, a large Property that\u2019s over a million dollars it\u2019s, it\u2019s best to do that through two S escrow and find an escrow that can deal with stable coins or Bitcoin or something like that.<br \/>\n1:04:31<br \/>\nSoon.<br \/>\n1:04:32<br \/>\nYeah that they should start figuring out that there\u2019s a market, these escrow agents, they haven\u2019t figured it out. Yeah.<br \/>\n1:04:39<br \/>\nLet\u2019s start the company that started yesterday.<br \/>\n1:04:41<br \/>\nYou could mean, Yeah, I mean, you\u2019re going to have competition maybe in two years, but in the meantime, there\u2019s a lot to do. Yeah, there\u2019s a lot of good services, yeah.<br \/>\n1:04:49<br \/>\nAll right, thank you, sir. All right, I\u2019m gonna go to David.<br \/>\n1:04:53<br \/>\nDavid, you there?<br \/>\n1:04:55<br \/>\nCan you hear me? Yes.<br \/>\n1:04:57<br \/>\nAll right.<br \/>\n1:04:58<br \/>\nJohn, listen, you may have already answered this question before, but I got the LLC from you, and I opened up the bank account now to keep the, Now to keep the bank account opened a year later, right? They want the LLC to be in good standing.<br \/>\n1:05:13<br \/>\nSo, you\u2019re not filing our return, or we\u2019re not filing, How do you? How do you keep the LLC in good standing? with the state?<br \/>\n1:05:24<br \/>\nThere\u2019s two things here. one is falling returns, that has nothing to do with the standing.<br \/>\n1:05:28<br \/>\nThe other is registration with the state, meaning the Articles of Association.<br \/>\n1:05:33<br \/>\nDid that tell you, know, is there like a yearly renewal that you have to do with the state to keep in? Good standing, OK, I\u2019ve never seen the bank do that. But the state will revoke your charter if you don\u2019t file the annual report, if it\u2019s required.<br \/>\n1:05:48<br \/>\nSo you\u2019ve got couple options here.<br \/>\n1:05:50<br \/>\nOnce you have the accounts open, and I\u2019ve never seen anything different than this, you can let the charter expire, and you\u2019ll be fine for years. My core company has been expired for like 17 years.<br \/>\n1:06:00<br \/>\nI\u2019ve run millions of dollars, no problem.<br \/>\n1:06:03<br \/>\nBut if I want to open a new account, I literally have to go either pay thousands of dollars in fees or open a new company under the same name in a different state.<br \/>\n1:06:11<br \/>\nThere\u2019s that way to go.<br \/>\n1:06:13<br \/>\nOK, the bank, I don\u2019t think the bank\u2019s going to follow up and check to see if it\u2019s still in good standing, I just don\u2019t think they do that, OK.<br \/>\n1:06:21<br \/>\nYou just call their bluff on it. All right. Did they tell you that?<br \/>\n1:06:25<br \/>\nWell, that\u2019s what they told me. When I opened up the account about five months ago, now I have yet to try it, but I\u2019m just trying to get on the, on the front end of this, so, yeah, that doesn\u2019t have to happen.<br \/>\n1:06:38<br \/>\nIf I could ask what bank home bank, they probably have: Is it a a credit union or something state that I know it\u2019s a state charter, NA ena Yes?<br \/>\n1:06:51<br \/>\nWow, OK, I\u2019ve never heard that before. That\u2019s the first time I ever heard that. So, it could be, I would take their word for it. So, I mean, it\u2019s just, as well.<br \/>\n1:06:59<br \/>\nrenew the charter, Um, if you don\u2019t like to do that, you can just register in Pennsylvania, or New Mexico, and, I believe, Arizona in Ohio.<br \/>\n1:07:09<br \/>\nI think in Wyoming, I think, those don\u2019t require annual reports, and an annual report, it\u2019s just the same information in your articles, unless you change something that you just update them every year with.<br \/>\n1:07:20<br \/>\nAnd then when you, when you do that, you pay a fee for those states that require it.<br \/>\n1:07:25<br \/>\nSo, Payan, I believe the fees like $50 over here, um, you can still pay the fee, the renewal fee without, without filing a return.<br \/>\n1:07:38<br \/>\nRight?<br \/>\n1:07:38<br \/>\nYeah, the tax return is totally separate, You\u2019re filing an annual report. Once you go on the Internet and Google LLC Annual Report and then pick a state, and you\u2019ll see what I\u2019m talking about. It\u2019s the same information you already have and it\u2019s just kind of a nuisance to have to remember to do that. So if you don\u2019t like to do that, just get a state pick a state that doesn\u2019t require annuals like New Mexico and Pennsylvania for sure.<br \/>\n1:08:00<br \/>\nOtherwise, you\u2019re gonna let it expire, or you\u2019re just gonna go and have it renewed. Or, you can even have a service do it for you, like if you pay for a registered agent service. Those are anywhere from $99 a year to $150 a year.<br \/>\n1:08:12<br \/>\nSome, some of the Agent services will renew your articles for you.<br \/>\n1:08:17<br \/>\nNice, OK, yeah, they do it electronically. So if you don\u2019t mind the 150 a year, it\u2019s done.<br \/>\n1:08:22<br \/>\nVery good, alright, thank you. All right.<br \/>\n1:08:27<br \/>\nAlright, let me see if I can do that. Come down through the written questions.<br \/>\n1:08:33<br \/>\nYeah, OK. Yeah, I\u2019m gonna, I\u2019m gonna publish this to tonight. It\u2019s going to be I put on my YouTube channel but it\u2019s unlisted. So you can\u2019t watch it there. And I\u2019m gonna put it here on the group and I\u2019ll probably take it down and I\u2019m going to put it in the members area.<br \/>\n1:08:45<br \/>\nI might add some things to it.<br \/>\n1:08:48<br \/>\nYeah, all right.<br \/>\n1:08:49<br \/>\nWhat\u2019s the benefit saying, OK, the SCN, I mean, I just, I did that back in the nineties because I just had a moral problem using an SSN.<br \/>\n1:08:59<br \/>\nAnd, back in the nineties, I chose to never, ever, again, participate in the social Security system and use that number, and I never have, I don\u2019t use it, my children don\u2019t even have one.<br \/>\n1:09:10<br \/>\nSo, it\u2019s convenient to have it on a credit file, and I had the same credit file for years. My wife now uses it, which is funny, and so I set up a new file for myself just a couple of years ago, which I hardly ever use, I\u2019m lazy on it.<br \/>\n1:09:24<br \/>\nSo, but the CN\u2019s is nice to have, you know, if you wanna have a clean start on credit.<br \/>\n1:09:31<br \/>\nBut, you can\u2019t use it to in place of an SSN weren\u2019t SSNs required like for an EIN, you can\u2019t, you can\u2019t mix them like that.<br \/>\n1:09:40<br \/>\nWhat the heck is an end? It\u2019s a, a credit file number.<br \/>\n1:09:45<br \/>\nIt\u2019s a second credit number, second credit phone number.<br \/>\n1:09:47<br \/>\nSometimes they call it a credit profile number, and as it turns out, your credit report is based is ID\u2019d by your SSN. And that\u2019s just by default because everybody does it that way. But there\u2019s no legal duty to do that.<br \/>\n1:10:01<br \/>\nThis is, you know, back in the nineties, I researched it to figure out what they were doing, and I reverse engineered the way they were creating those numbers. And when I did that, I was able to create my own new number and then I got my whole new credit file and then I was able to open bank accounts with no SSN.<br \/>\n1:10:18<br \/>\nAnd then, I don\u2019t really sell that as a service, but sometimes it works for some people like this one lady.<br \/>\n1:10:23<br \/>\nShe\u2019s kinda being stalked or something, and someone stealing her ID and no matter what she does, she can\u2019t stop it. No matter what service she pays for.<br \/>\n1:10:29<br \/>\nSo I just told her just a whole new file, and then we did a couple of other things, too, so that severs it, that way, from the past to to now, and then that way that I think solved her problem.<br \/>\n1:10:40<br \/>\nSo I do it When a slight change of the spelling of your name or something, and a new dress, no, but it\u2019s a new address.<br \/>\n1:10:46<br \/>\nYou have to pick a residential address you\u2019ve never been connected to in any way, and then you apply for, well, you get the number, which is, takes a couple of steps to figure out how to do that correctly. You get the number, and then you apply for credit, and they get turned down, then you do it again, then get turned down, And then you, there\u2019s a couple other things. You do, like, an eight step thing, and then it takes about two weeks to actually have something to work with. And then within a few months, you\u2019ll start work, you know, building up your file.<br \/>\n1:11:13<br \/>\nYou could probably even at trade lines, too, so people do that.<br \/>\n1:11:18<br \/>\nYeah, anxious, yeah, I don\u2019t like to advertize that, because I get the wrong people asking me for that stuff, because I know it\u2019s so simple, but you know what people know, that they can do that.<br \/>\n1:11:30<br \/>\nThey start to take all these devious plans.<br \/>\n1:11:32<br \/>\nSo a PMA articles, an LLC, open up Yeah, OK. You can open a bank account with a PMA.<br \/>\n1:11:39<br \/>\nIf you really like to have a hard time with the banks, right? So it\u2019s just like a trust. If you go to the bank and you want to use a PMA, they will want a written trust agreement.<br \/>\n1:11:51<br \/>\nSo enjoy that experience if you want. That\u2019s why I use the LLC, OK? Because the LLC, like the PMA is permanent. I\u2019m gonna use that for family planning, estate, planning, cool stuff down the road.<br \/>\n1:12:02<br \/>\nI can build a club but that I can do all kinds of stuff and the LLC, if it has trouble, get sued or whatever, I can dissolve it and move on.<br \/>\n1:12:09<br \/>\nI can set up a new LLC, they\u2019re disposable.<br \/>\n1:12:13<br \/>\nAll right, and then see OK, here we go.<br \/>\n1:12:17<br \/>\nYeah. Big ticket items. Getting assistance with the purchase and closing.<br \/>\n1:12:24<br \/>\nYeah.<br \/>\n1:12:26<br \/>\nWould the big ticket items you discussed as getting assistance with the purchase include real estate?<br \/>\n1:12:32<br \/>\nMostly real estate?<br \/>\n1:12:35<br \/>\nYeah.<br \/>\n1:12:35<br \/>\nI mean, the big ticket items are going to be likely real estate, unless you guys want to get into, like, a limited partnership, private placement, for $10 million, which we\u2019re going to talk about. We have some people. talk about that.<br \/>\n1:12:46<br \/>\nYeah, I mean, you could do real estate, you could do a business, you could do a large portfolio of something, for example. You could you could take a billion dollars, and put it in tax lien certificates without buying them at the auctions.<br \/>\n1:12:57<br \/>\nYou can just go to a broker, and he\u2019ll get the tax lien portfolio and negotiate the deal.<br \/>\n1:13:03<br \/>\nYou could put a lot of money in tax lien certificates. It\u2019s kind of a nice assets, a paper asset.<br \/>\n1:13:09<br \/>\nYeah, and bank account, non-profit, it\u2019s close by the IRS. What?<br \/>\n1:13:14<br \/>\nThat was me.<br \/>\n1:13:15<br \/>\nSo did it ever file.<br \/>\n1:13:17<br \/>\nIt\u2019s what I want to ask you if you\u2019re a non-profit at the bank was closed by the IRS because it did not file a return.<br \/>\n1:13:24<br \/>\nThe count is still open.<br \/>\n1:13:27<br \/>\nOh, that\u2019s interesting.<br \/>\n1:13:30<br \/>\nSo the IRS closed, the charter and your bank account still open.<br \/>\n1:13:37<br \/>\nWell, nothing\u2019s really changed.<br \/>\n1:13:40<br \/>\nJust because the IRS said it\u2019s closed, doesn\u2019t mean it affects your company.<br \/>\n1:13:47<br \/>\nLet me, um, but let me explain this.<br \/>\n1:13:50<br \/>\nOK, so if I register a company somewhere, then let\u2019s say it\u2019s with the State and the state revokes the Charter.<br \/>\n1:13:58<br \/>\nIt does not, it does not invalidate my company.<br \/>\n1:14:02<br \/>\nBecause the relationship for which the name was created, the LLC still may exist, right?<br \/>\n1:14:10<br \/>\nSo, if I have, like, two partners, and we\u2019re running a business, and then the state Revokes the charter, that doesn\u2019t change my relationship. So, the name of the relationship is still valid.<br \/>\n1:14:19<br \/>\nAnd so if the IRS sends you a letter, which is kinda interesting, we\u2019re not filing.<br \/>\n1:14:23<br \/>\nI guess they don\u2019t want you, they don\u2019t want to be, they don\u2019t want you on the mailing list anymore, which is probably a good thing. I think a lot of people would prefer that.<br \/>\n1:14:29<br \/>\nAnd I don\u2019t know that anything changes here if you\u2019re not filing and the iris send you a letter saying, We closed your company, OK? That wasn\u2019t falling anyways.<br \/>\n1:14:39<br \/>\nWhat difference does it make really, I would keep using it.<br \/>\n1:14:44<br \/>\nYeah, if you never filed great, even better, how would they even know about it, though?<br \/>\n1:14:50<br \/>\nI would like to know that if you don\u2019t mind.<br \/>\n1:14:55<br \/>\npupping in here and answering them, how would the IRS even know about it if you never filed?<br \/>\n1:15:02<br \/>\nBecause when you get an EIN, it\u2019s not that they\u2019re tracking that, the SSA is?<br \/>\n1:15:09<br \/>\nInteresting.<br \/>\n1:15:11<br \/>\nCompanies would be formed using a public announcement. So you could do it in a legal notices, publication, like your business journal or something in your town. And you\u2019ll see, you could probably haven\u2019t tried this yet, but you could announce the existence of a company, like an LLC or a trust or whatever in the newspaper. And I think if you publish it, like 2 or 3 times, and then you save a copy of those, that\u2019s enough to establish its existence.<br \/>\n1:15:35<br \/>\nYou don\u2019t actually have to register with the state now.<br \/>\n1:15:37<br \/>\nI think the banks will tell you to register with the state, but maybe they won\u2019t maybe. Like for the trust thing, if you publish the existence of a trust and then bring in a copy that to the bank, the copy that newspaper. That may be also enough in lieu of a certified copy, the articles, that\u2019s old school. That\u2019s how it used to be done.<br \/>\n1:15:56<br \/>\nSo, it\u2019s an interesting question.<br \/>\n1:16:00<br \/>\nSo, the 501, OK.<br \/>\n1:16:01<br \/>\nSo you had a 501 status, I see ICRC, OK, Well, then.<br \/>\n1:16:05<br \/>\nFine, I guess you don\u2019t have the 5 and 1 status.<br \/>\n1:16:08<br \/>\nYou know, it\u2019s funny, I was talking to a group and they were, they were talking about 508, right?<br \/>\n1:16:13<br \/>\nAnd I didn\u2019t even know that, because I don\u2019t really follow that stuff, But I was told that the 508 doesn\u2019t need to file, But if it does fall, I think it\u2019s a 990, and it doesn\u2019t pay any taxes.<br \/>\n1:16:23<br \/>\nAnd then, what\u2019s the point then?<br \/>\n1:16:26<br \/>\nWhat\u2019s really the benefit of telling the Irish?<br \/>\n1:16:28<br \/>\nYou want to operate a certain way, so it can say, OK, you\u2019re a 501 or 508, and have an exemption when you can just set up a company that\u2019s pass through and operate the same way.<br \/>\n1:16:40<br \/>\nThe only difference is, if you have an Exempt Organization that\u2019s exempt according to the IRS, then you can bring in donations from people that do it for a tax benefit.<br \/>\n1:16:51<br \/>\nThat\u2019s the only, that\u2019s the only thing that you\u2019d really want to do it for. If you\u2019re in that type of operation, and you really want to rely on donations, you really want to reward the people that are doing donating to your organization by allowing them to get tax breaks.<br \/>\n1:17:04<br \/>\nThere\u2019s a small market of people that don\u2019t care, but for the most part, if you want that money, you\u2019ll want to be able to be in good standing, So that\u2019s what you\u2019re doing.<br \/>\n1:17:13<br \/>\nI just look at it that way.<br \/>\n1:17:18<br \/>\nSo we get on the different combinations of signing on an account.<br \/>\n1:17:23<br \/>\nI hope, and hope that helps answer.<br \/>\n1:17:28<br \/>\nQuestions, we can go over.<br \/>\n1:17:34<br \/>\nOK, we can, let me just, I\u2019ll just say one more thing, and then we\u2019ll close the call.<br \/>\n1:17:39<br \/>\nI appreciate everyone\u2019s participation.<br \/>\n1:17:41<br \/>\none of the things I did not mention about sinar rights on a company that owns assets, property, bank accounts, Vault accounts, things like that. Is the, the access to it, so credentials.<br \/>\n1:17:52<br \/>\nSo, let\u2019s say, for some reason, you can\u2019t really just, it\u2019s not convenient for you to pass along credentials, so, one thing you could do is go to a third party custodian for the credentials.<br \/>\n1:18:04<br \/>\nAnd that might be a good idea anyways as a backup. Right? So maybe you\u2019ll never have to deal with that third party custodian.<br \/>\n1:18:10<br \/>\nAnd everything runs smoothly for 100 years. And then the third party custodian, maybe your contract runs out and the things destroyed, right? So here\u2019s how you work with a third party custodian.<br \/>\n1:18:19<br \/>\nYou take it literally a black box, a ledger, a book of papers, envelopes, keys, whatever.<br \/>\n1:18:27<br \/>\nAnd you, you literally have a black box. Now, what you want to do is get a Vault.<br \/>\n1:18:32<br \/>\nLike, you know, it looks like a till.<br \/>\n1:18:35<br \/>\nand under a contract, you would go to a law firm to do this. I would probably not go to a Vault service. Maybe, maybe, but, but it\u2019s just as well if you can find a law firm to do this. Now, I\u2019m not saying an attorney.<br \/>\n1:18:46<br \/>\nI\u2019m saying a law firm law firms can do this service, see if the law firm has is bonded or see if there\u2019s an attorney assigned for the law firm that has a bond.<br \/>\n1:19:00<br \/>\nAnd the reason being is, attorneys are bonded, so they\u2019re going to be financially responsible, if anything happens to that property, because it could be very valuable. Right.<br \/>\n1:19:08<br \/>\nSo, there\u2019s a protocol by which someone could come to that law firm that custodian and collect that item.<br \/>\n1:19:15<br \/>\nAnd then he or she would know how to access the item worthey Custodian would not know how to access the item. All its job is to do, is, hand over the box, store in a secure location, under contract for price. You\u2019ll pay a price. Maybe it\u2019s per year or whatever, if you can find a law firm to do that.<br \/>\n1:19:32<br \/>\nSo, you have third party custodianship with a bonded because custodian under contract and that\u2019s, that\u2019s a third party, like, almost two factor authentication that\u2019s just there. Like, let\u2019s say it\u2019s a backup, right?<br \/>\n1:19:44<br \/>\nSo, you try to handle everything without using this law firm, third party custodian, and, but let\u2019s say it doesn\u2019t work out. Maybe your, your house blows up, gets into a fire, or whatever.<br \/>\n1:19:53<br \/>\nflood, you lost whatever it was, then you can go or your heirs can go to the third party custodian and make whatever presentation is needed.<br \/>\n1:20:03<br \/>\nYour ID or whatever. And you\u2019ll be given this box, and then that contract is finished.<br \/>\n1:20:08<br \/>\nThen you\u2019ll, you\u2019ll be given access to the asset. That\u2019s the only thing I didn\u2019t really mention. So, there are some creative things you can do. My whole purpose is not to be creative.<br \/>\n1:20:16<br \/>\nMy purpose is to make something practical and secure and avoid being exploited, avoid having to go through probate and, and all that stuff in the courts.<br \/>\n1:20:26<br \/>\nAnd also, keep things out of your name.<br \/>\n1:20:29<br \/>\nAll right, let\u2019s see, yeah, keep things out of your name, keep things out of reach, all right, here\u2019s when are you going to be doing this? Yeah, I\u2019m gonna, I\u2019m gonna do this Thursday.<br \/>\n1:20:37<br \/>\nSo, yeah, I appreciate ELLs participation.<br \/>\n1:20:40<br \/>\nI hope that gives you some good information. Please, I really appreciate your feedback, and thanks for your patience. If you send me e-mail, I try to answer what comes in today, and also the oldest, at the same time, I promise I\u2019m going to catch up. So appreciate that, everyone.<br \/>\n1:20:54<br \/>\nAll right.<br \/>\n1:20:56<br \/>\nYou guys have a good night.<br \/>\n1:20:59<br \/>\nSee you next week.<\/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-7610570 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7610570\" 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-d503957\" data-id=\"d503957\" 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-af30801 elementor-widget elementor-widget-spacer\" data-id=\"af30801\" 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-e48b5cf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e48b5cf\" 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-a9c79ed\" data-id=\"a9c79ed\" 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-a2fc4f3 elementor-widget elementor-widget-text-editor\" data-id=\"a2fc4f3\" 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 discussion revolves around signer rights and credentials usage on Limited Liability Companies (LLCs).<br \/>2. The speaker expresses the advantages of using LLCs, such as reducing tax liability, enabling privacy, and allowing multiple members with various signing rights.<br \/>3. Property rights and ownership in an LLC context are discussed, where the LLC could be owned by an individual, a trust, or an unincorporated association.<br \/>4. The speaker emphasizes on the importance of access credentials over the need for multiple signers in an LLC.<br \/>5. The speaker discusses bank account operations and regulations regarding LLCs, stating one doesn&#8217;t necessarily need to domesticate a company where they live.<br \/>6. Potential issues with having overseas transactions flagged by banks are discussed. The speaker maintains that, despite initial scrutiny, such operations eventually become normalized.<br \/>7. The speaker fielded questions from participants, discussing issues related to LLC setup, operating agreements, and asset transfers.<br \/>8. They discussed using whole life policies to fund LLC operating costs to improve the financial appearance of one&#8217;s assets, implying better selling price if an asset was to be sold.<br \/>9. The speaker assured participants that large transactions or asset transfers from LLCs wouldn&#8217;t typically raise red flags with the IRS if conducted sensibly.<br \/>10. The conversation concludes with an emphasis on the benefits of using LLCs for privacy, tax reduction, and control over assets. The speaker reiterated the importance of following correct procedures for the annual reporting of LLCs to the relevant authorities.<\/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-6660800 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6660800\" 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-98f4164\" data-id=\"98f4164\" 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>U23 &#8211; Signature rights and Credentials using LLC<\/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\/14252"}],"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=14252"}],"version-history":[{"count":7,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/14252\/revisions"}],"predecessor-version":[{"id":25272,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/14252\/revisions\/25272"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=14252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=14252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=14252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}