{"id":18233,"date":"2021-08-31T11:21:58","date_gmt":"2021-08-31T15:21:58","guid":{"rendered":"http:\/\/privacyfight.io\/?p=18233"},"modified":"2023-06-25T10:17:59","modified_gmt":"2023-06-25T14:17:59","slug":"u45-discussion-on-irs-revenue-ruling-2019-24-as-it-pertains-to-virtual-currency","status":"publish","type":"post","link":"https:\/\/privacyfight.io\/u45-discussion-on-irs-revenue-ruling-2019-24-as-it-pertains-to-virtual-currency\/","title":{"rendered":"U45 &#8211; Discussion on IRS Revenue Ruling 2019-24 as it pertains to virtual currency"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"18233\" class=\"elementor elementor-18233\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-113a3f7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"113a3f7\" 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-62dfc92\" data-id=\"62dfc92\" 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-ffc50d1 elementor-widget elementor-widget-text-editor\" data-id=\"ffc50d1\" 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\/725265926\/?\" 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            U45 &#8211; Discussion on IRS Revenue Ruling 2019-24 as it pertains to virtual currency\r\n0:02\r\nGreat, so I\u2019ll just say, again, the dates August 12th. We\u2019re going to talk about an IRS revenue ruling.\r\n0:07\r\nThis is the one that follows the 1 from 20 14 where the iris defined cryptographic currency or v&#8230;        <\/div>\r\n        <div class=\"vidseo_collapse_content\" style=\"\">\r\n            <p>U45 &#8211; Discussion on IRS Revenue Ruling 2019-24 as it pertains to virtual currency<br \/>\n0:02<br \/>\nGreat, so I\u2019ll just say, again, the dates August 12th. We\u2019re going to talk about an IRS revenue ruling.<br \/>\n0:07<br \/>\nThis is the one that follows the 1 from 20 14 where the iris defined cryptographic currency or virtual currency as property.<br \/>\n0:16<br \/>\nAnd there may be another one after this, This is from 2019. You can tell because the revenue ruling is 2019, 24.<br \/>\n0:23<br \/>\nSo if you want to look it up, it\u2019s here, but I\u2019m just gonna walk through it, and I have some references, some web pages up here where I pulled the actual citations from some parts of this ruling, this is not a law, by the way.<br \/>\n0:37<br \/>\nIt\u2019s more like guidance. It has weight, like if you have a dispute in tax court, it would be used that way.<br \/>\n0:44<br \/>\nBut I\u2019m going to show you how this, how this plays out, how this breaks down that, is so, I\u2019m going to share the screen here.<br \/>\n0:53<br \/>\nWe\u2019re gonna move on over there, my, my other monitors over this way.<br \/>\n0:55<br \/>\nSo, but anyways, as you can see, just find this here.<br \/>\n1:00<br \/>\nIt\u2019s on the irises website and then we can just scroll down, section 61 talks about gross income. You guys can find this in title 26 of the United States Code, not the CFR.<br \/>\n1:14<br \/>\nOK, the CFR is the reg written by the Agency, which that\u2019s very helpful, but I\u2019m just speaking generally here.<br \/>\n1:22<br \/>\nUh, Section 61 of the Internal Revenue Code is implemented by 26 CFR, 1.61 dash 1, and defining gross income.<br \/>\n1:32<br \/>\nSo gross income is really detailed, in this are in this regulation.<br \/>\n1:37<br \/>\nIt\u2019s interesting, I don\u2019t think income as defined in the actual tax code.<br \/>\n1:41<br \/>\nSo we\u2019re trying to figure out OK, that the ruling pertains to whether or not a taxpayer has gross income OK under this section.<br \/>\n1:52<br \/>\nNow I may read sections of this. I\u2019m sorry for that, but I don\u2019t know any other way to do this, so it\u2019s, ask it, as a taxpayer, have gross income under section 61 of the Internal Revenue Code.<br \/>\n2:03<br \/>\nAs a result of a hard fork of cryptocurrency, the taxpayer owns, if the taxpayer does not receive units of new currency, I\u2019m just talking about John Smith, that has Kryptos.<br \/>\n2:17<br \/>\nNow, this does cover every ownership of kryptos, that is, the person owning the private keys and so I\u2019m talking about this covers ledger\u2019s. This covers everything. Paper, wallets.<br \/>\n2:29<br \/>\nThird parties, Coinbase, all this stuff.<br \/>\n2:32<br \/>\nIt even color covers Caleb and Brown, But what happens in the middle of that is in-between is that there\u2019s some reporting things that like on a ledger. There\u2019s no reporting, it\u2019s not third party right now. It\u2019s gonna give you 1099 on \u2026 Brown, no reporting on that, and I\u2019m sure from Australia, OK.<br \/>\n2:49<br \/>\nSo, it\u2019s not totally what you\u2019re saying here.<br \/>\n2:54<br \/>\nThen, here\u2019s the other question.<br \/>\n2:55<br \/>\nDoes a taxpayer have gross income under section 61 as a result of an airdrop of a new cryptocurrency following a hard fork? If the taxpayer receives units of new cryptocurrency, this is where people having a problem.<br \/>\n3:08<br \/>\nIf you get new currency, that\u2019s worth more.<br \/>\n3:15<br \/>\nI think this goes along with, if your currency is worth more, right from what it was. So the background is that virtual currency is a digital representation of value, OK? On a blockchain, they go into this, defining things, OK?<br \/>\n3:29<br \/>\nSo what they\u2019re saying here, though, is the foreign currency. They\u2019re telling you what it is. It\u2019s defined as designed, as legal tender, it\u2019s intended to be legal tender that circulates and so forth, OK. Nothing new here.<br \/>\n3:43<br \/>\nThey\u2019re not talking about kryptos yet, kryptos are not foreign currency.<br \/>\n3:48<br \/>\nCryptocurrency is a type of virtual currency that utilizes crypto cryptography to secure transactions, et cetera. We all know what that is.<br \/>\n3:58<br \/>\nOK, so a hard fork is unique to distributed.<br \/>\n4:04<br \/>\nIt is unique to distributed ledger technology and occurs when a cryptocurrency on a distributed ledger.<br \/>\n4:09<br \/>\nUndergoes a protocol change resulting in a permanent diversion from the legacy or existing distributed ledger. You guys know what that is.<br \/>\n4:17<br \/>\nHard fork may result in a creation of new currency on a distributed ledger.<br \/>\n4:22<br \/>\nOK, following a hard fork transactions involving the new cryptocurrency are recorded on the new ledger, OK, So, an airdrop is a means of distributing your currency, OK, cryptocurrency from an airdropped generally has received on the date.<br \/>\n4:37<br \/>\nAt the time, it is recorded on the distributed ledger.<br \/>\n4:40<br \/>\nThe taxpayer may constructively receive cryptocurrency prior to the airdropped being recorded on the distributed ledger.<br \/>\n4:48<br \/>\nA taxpayer does not have receipt of the currency when the airdrop is recorded on the distributed ledger.<br \/>\n4:54<br \/>\nIf the taxpayer is not able to exercise dominion or end control over the cryptocurrency, no problem there, right?<br \/>\n5:06<br \/>\nNo disposition of assets and no right to sell anything.<br \/>\n5:09<br \/>\nNothing new.<br \/>\n5:11<br \/>\nFor example, the taxpayer does not have the Dominion or Dominican, and control.<br \/>\n5:14<br \/>\nOr if the address to which the cryptocurrencies airdrop is contained in a wallet managed through A cryptocurrency exchange, and the cryptocurrency exchange does not support a newly created cryptocurrencies such that the airdrop Kurt cryptocurrency is not merely credited to the taxpayers account at the exchange.<br \/>\n5:32<br \/>\nIf the taxpayer later acquires the ability to transfer sell exchange, remember this goes along with what I\u2019ve been telling you for years.<br \/>\n5:40<br \/>\nWhen you have the right to spend or sell dollars, OK, then you have a liability. If you receive that right, you then may have a liability.<br \/>\n5:50<br \/>\nSo, it\u2019s saying here if the taxpayer, later acquires the ability to sell or transfer exchange, or otherwise dispose of the cryptocurrency, the taxpayer is treated as receiving the cryptocurrency at that time, OK? No problem there, this is all. I mean, I\u2019m going to argue with this step. This is all correct.<br \/>\n6:06<br \/>\nBut I\u2019m gonna explain a couple of things to you.<br \/>\n6:08<br \/>\nSo they\u2019ve got two situations here. This is the one that y\u2019all are concerned about.<br \/>\n6:12<br \/>\nIf I get new coins or the coins go up in value, Do I have a taxable transaction? Here\u2019s what it\u2019s saying after the airdrop. Transactions involving kryptos are recorded on the new ledger, and that transaction is evolving.<br \/>\n6:23<br \/>\nCrypto are, or continue to be recorded, OK, so, yeah.<br \/>\n6:26<br \/>\nSo, here\u2019s the law, Here\u2019s the thing, Section 61 A 3 provides that, except as otherwise provided by law.<br \/>\n6:34<br \/>\nGross income means all income from whatever source derived, including gains from dealings now, I don\u2019t believe you\u2019re going to find this language in the actual tax code.<br \/>\n6:45<br \/>\nI think this is just in the letter ruling, it has weight, but it\u2019s not law.<br \/>\n6:51<br \/>\nBut let\u2019s pretend it is. All right.<br \/>\n6:52<br \/>\nSo including gains from dealings in property, what\u2019s property cryptographic currency in this case.<br \/>\n6:58<br \/>\nUnder section 61, all gains or undeniable, or undeniable accessions to well Yeah, my coins are worth more, Clearly realized over which the taxpayer has complete dominion, are included in gross income.<br \/>\n7:14<br \/>\nNow, it\u2019s telling you to refer to this case.<br \/>\n7:18<br \/>\nSo let\u2019s do that.<br \/>\n7:23<br \/>\nIt just so happens to be right here.<br \/>\n7:26<br \/>\nWhat\u2019s interesting that you\u2019ll feel note right away, I think. Let\u2019s see here.<br \/>\n7:30<br \/>\nOK, so they cite it correctly.<br \/>\n7:31<br \/>\nOK, so, Commissioner versus lunch, ah, glass company, So I got the citation.<br \/>\n7:38<br \/>\nMake sure I got the right one, OK.<br \/>\n7:41<br \/>\nSo it\u2019s this is apparently disgust in this case.<br \/>\n7:45<br \/>\nSo let\u2019s look at the case money received as exemplary damages for fraud. Whereas the punitive two thirds portion of a treble damage, antitrust recovery, must be reported by a taxpayer as gross income under Section 22 A.<br \/>\n8:00<br \/>\nNow, that\u2019s talking about the Internal Revenue Code of 1939.<br \/>\n8:03<br \/>\nAll they did is they revise some of this stuff in 19 54, and they did it again in 19 86.<br \/>\n8:08<br \/>\nJust just worth noting in determining what constitutes gross income as defined at 22 A, which is probably today 61, effect must be given to the catch all language gains or profits and income derived from any source of water.<br \/>\n8:23<br \/>\nSo they have an \u2026 versus Mccumber, or a lot of you guys have read this, I\u2019m not going to go into that too much.<br \/>\n8:28<br \/>\nThe mere fact that such payments are extracted from the wrongdoers as punishment for a lawful for unlawful conduct cannot detract from their character as taxable income.<br \/>\n8:37<br \/>\nA different result is not required by the fact that Section 22 was re-enacts without change.<br \/>\n8:44<br \/>\nAfter the Board of Tax Appeals had held punitive damages to be non taxable, and there\u2019s another citation.<br \/>\n8:51<br \/>\nNow, this nice citation, I think Heiland Farms is from Tax Court, I think, but remember, this is talking about a damaged claim for fraud. Someone got an award of punitive damages, OK?<br \/>\n9:05<br \/>\nAnd the Iris or the court here The Supreme Court is saying this. Wow, OK.<br \/>\n9:11<br \/>\nSo the Supreme Court ruled that it\u2019s taxable and it\u2019s still is, I think the Legislative History of the Internal Revenue Code of 1954 does not require a different result there.<br \/>\n9:20<br \/>\nYou go see, the definition of gross income was simplified but no effect upon its present, broad scope was intended OK, so it didn\u2019t change anything, Punitive damages cannot be classified as gifts, nor do they come under any other exemption in the code, fine.<br \/>\n9:38<br \/>\nSo whatever they did here, they fixed it, reversed it.<br \/>\n9:42<br \/>\nPunitive damages cannot be classified as gifts. That means they\u2019re taxable.<br \/>\n9:47<br \/>\nSo we come back here. So this case pertains to punitive damages.<br \/>\n9:54<br \/>\nDoes it apply to anything else, punitive damages?<br \/>\n9:59<br \/>\nIt\u2019s, I think it\u2019s maybe maybe it\u2019s not a holding.<br \/>\n10:03<br \/>\nBut let\u2019s just say it is, I\u2019m not going to argue.<br \/>\n10:07<br \/>\nLet\u2019s just say that this case vol applies like they\u2019re saying.<br \/>\n10:12<br \/>\nTechnically, I don\u2019t think it does.<br \/>\n10:13<br \/>\nBut anyways, in general, income as ordinary, unless it is, again, it is gained from the sale or exchange of a capital asset or a special rule applies. All right. So, this is what we\u2019re concerned about, the sale or exchange of a capital asset.<br \/>\n10:29<br \/>\nNow, I explained this, we already know about sale, income is ordinary, unless it\u2019s a gain from the sale or exchange of a capitalist.<br \/>\n10:38<br \/>\nSo, if you sell a capital asset, it\u2019s not, it\u2019s, it\u2019s not ordinary.<br \/>\n10:44<br \/>\nBut, it may be taxable, OK, same with an exchange of a capital asset.<br \/>\n10:49<br \/>\nNow, I believe that the coins are a capital asset, I\u2019m not sure, but let\u2019s just say they are.<br \/>\n10:55<br \/>\nThen we start talking about special rules.<br \/>\n10:59<br \/>\nNow, this is, I\u2019m not trying to get into the actual meaning of the code. We\u2019re gonna see that, but what I want to show you is how they\u2019re how they\u2019re doing this. So look at.<br \/>\n11:09<br \/>\nWe\u2019re looking here at these sections, OK?<br \/>\n11:13<br \/>\nHere\u2019s 12 22, Title 26, and their defining.<br \/>\n11:19<br \/>\nThis is all definitions, OK?<br \/>\n11:23<br \/>\nThis is the end of the section.<br \/>\n11:26<br \/>\nThere\u2019s like 10 paragraphs and paragraphs.<br \/>\n11:28<br \/>\nSo what is short-term capital gain?<br \/>\n11:31<br \/>\nWhat does loss gain loss, Right? What is it, what is it, what is it?<br \/>\n11:37<br \/>\nMeans the excess long term capital gains for the taxable year. I\u2019m just, I\u2019ll just pick one at random. I pick number seven.<br \/>\n11:44<br \/>\nNet, short-term capitalize the term short term capitalize, means the excess of short term, short term capital losses for the taxable year.<br \/>\n11:53<br \/>\nCapital gain net income means the excess of the gains from sales or exchanges of capital assets over the losses from such salzer exchanges.<br \/>\n12:03<br \/>\nNow, remember, I mentioned many, many times, if you have a tax liability from an exchange, from, let\u2019s say, coin to coin, however that arrives, how do you pay the tax? It is not in the coin.<br \/>\n12:18<br \/>\nSo, are you required to sell for the thing that\u2019s being taxed?<br \/>\n12:23<br \/>\nI don\u2019t know of any law that is so far.<br \/>\n12:25<br \/>\nI can conclude that there\u2019s not, there\u2019s no duty to sell the capital asset for dollars so they can pay a tax in dollars. I don\u2019t know that that exists.<br \/>\n12:35<br \/>\nAgain, I believe that it is the dollars that are being taxed. Why?<br \/>\n12:39<br \/>\nBecause the system created it the tax pay, the tax authority, Which is includes if the reserve bank, the tax authority created the unit of currency that is being taxed.<br \/>\n12:51<br \/>\nBitcoin and other coins are not that.<br \/>\n12:55<br \/>\nSo just understand that part of it.<br \/>\n12:58<br \/>\nBut I\u2019m going to show you that.<br \/>\n13:00<br \/>\nYou\u2019ll see what I\u2019m getting to in a second here.<br \/>\n13:03<br \/>\nSame old stuff, They\u2019re just defining this stuff, OK.<br \/>\n13:06<br \/>\nThere\u2019s nothing interesting here, really, just, it\u2019s worth noting, so we get to 12 31.<br \/>\n13:15<br \/>\nRemember, let\u2019s go to 12 31 now. It\u2019s so tedious We just have to do it, though.<br \/>\n13:20<br \/>\nWhat does the gain means?<br \/>\n13:22<br \/>\nAny recognized gain on the sale or exchange a property used in the trade or business?<br \/>\n13:32<br \/>\nHold that thought about trade or business for a second. Any recognized gain for the compulsory or involuntary conversion?<br \/>\n13:40<br \/>\nSo if you\u2019re forced to sell something, right, As a result of destruction in whole, or part of theft, or seizure of an of an exercise, or an exercise of the power of requisition, or condemnation, or the threat, or eminence, they\u2019re up into other property or money of property used in the trader business, or any capital asset, which is held for more than one year, OK.<br \/>\n14:13<br \/>\nMore of the same.<br \/>\n14:16<br \/>\nThis is kinda telling you how to how to do your accounting.<br \/>\n14:21<br \/>\nIf there\u2019s something to report.<br \/>\n14:28<br \/>\nInvoluntary conversion, shipwrecked, things like that, the property used in a trader business. So all this section here has to do with the trader business.<br \/>\n14:38<br \/>\nNow, you can look up case on this, I\u2019m just going to show you the definition of this, I\u2019m gonna get the definition of the tax code. in just a second.<br \/>\n14:43<br \/>\nI\u2019m gonna show you any capital asset, which is held for more than one year, and has held in connection with the trade or business, or a transaction entered into for-profit.<br \/>\n14:53<br \/>\nThis actually should not apply such conversion.<br \/>\n14:56<br \/>\nIf, during the taxable year, the recognized losses for such conversions exceed the recognized gains for such conversions, OK?<br \/>\n15:04<br \/>\nDefinition of property is using that trade or business.<br \/>\n15:09<br \/>\nProperty using a trader business character, which is subject to the allowance of depreciation provided in Section 167, held more than one year.<br \/>\n15:16<br \/>\nTrade or business held more than one year.<br \/>\n15:19<br \/>\nThen it goes on to tell you what it\u2019s not.<br \/>\n15:21<br \/>\nThis is how they talk, this is how they write stuff.<br \/>\n15:24<br \/>\nHere we\u2019re talking about timber coal, domestic iron ore. we\u2019re talking about livestock, unharvested crop.<br \/>\n15:35<br \/>\nIt\u2019s kind of more of the same Nothing interesting except one thing.<br \/>\n15:39<br \/>\nWhat is this trade or business? What the heck is that?<br \/>\n15:42<br \/>\nWell, if you look in 77.1 of the tax code, it will tell you, Let\u2019s go there. I just so happen to have it sitting out here.<br \/>\n15:52<br \/>\nWhat is a trade or business? Section 70 71.<br \/>\n15:55<br \/>\nTitle 26. Scroll down to paragraph 26.<br \/>\n16:02<br \/>\nWhat is it a trade or business includes?<br \/>\n16:06<br \/>\nIt doesn\u2019t say includes, but is not limited to?<br \/>\n16:10<br \/>\nIt includes the performance of the functions of a public office.<br \/>\n16:16<br \/>\nThat is not your Wal-Mart. That is not your mailbox place.<br \/>\n16:23<br \/>\nIt\u2019s not your small business. It\u2019s a public office. What\u2019s that elected official?<br \/>\n16:27<br \/>\nAre you saying that a trader business is exactly, the people that are writing all these laws, the congressmen, those people are involved in their trade or business.<br \/>\n16:36<br \/>\nI\u2019m not because I have a long landscaping business.<br \/>\n16:42<br \/>\nWell, according to this, you\u2019re not.<br \/>\n16:43<br \/>\nSo there\u2019s more to learn on this, but I\u2019m just saying it\u2019s interesting.<br \/>\n16:47<br \/>\nLet\u2019s go back to 12 34 A. Now that was the next statute referred in this letter. Ruling.<br \/>\n16:55<br \/>\nGains or loss from certain determinations, I\u2019m glad these things are short gains or loss attributable to cancelation lapse expression or the termination of the writer obligation and other securities futures contracts is defined at 12 34 B. I\u2019m not going to go there.<br \/>\n17:10<br \/>\nWill respect the two with respect to property, which is around an acquisition? Would be a capital asset in the hands of a taxpayer or a section 12, 66, 12, 56, contract?<br \/>\n17:22<br \/>\nI got that here as defined in 12 86, Which is a capital asset in the hands of the taxpayer.<br \/>\n17:29<br \/>\nWhat the heck is a 12? That is a contract.<br \/>\n17:32<br \/>\nWe\u2019ll go over there.<br \/>\n17:35<br \/>\nAt the close of textbook shall be treated as sold.<br \/>\n17:40<br \/>\nShall be treated as sold. This is what they\u2019re doing, guys.<br \/>\n17:46<br \/>\nYou can certainly treat yours as being sold.<br \/>\n17:49<br \/>\nThat\u2019s a different accounting practice than what we normally do when we follow 10 40.<br \/>\n17:55<br \/>\nI\u2019m going to show you right now for its fair market value.<br \/>\n18:00<br \/>\nNow, let us go back here, to the literally.<br \/>\n18:04<br \/>\nSo, we get into all this stuff. We can look it all up.<br \/>\n18:08<br \/>\nNow.<br \/>\n18:17<br \/>\nPardon me for just a second. I want to make sure I get the right section here.<br \/>\n18:28<br \/>\nSection 451 of the code I didn\u2019t have that went up here, I don\u2019t think we need to, but it provides that a taxpayer using a cash method of accounting includes an amount and gross income in the taxable year.<br \/>\n18:40<br \/>\nIt is actually or constructively received, so I\u2019ve been telling you all OK, this is if there\u2019s a disposition of the capital asset for dollars, the thing being taxed.<br \/>\n18:55<br \/>\nWhat you all are reading on the Internet, and your CPA is following this.<br \/>\n19:02<br \/>\nA taxpayer using an accrual method of accounting generally includes an amount and gross income no later.<br \/>\n19:07<br \/>\nThen the taxable year in which the events have occurred, which fixed the right to receive such amount.<br \/>\n19:15<br \/>\nOK, so if I\u2019m using accrual based accounting, which is what large corporations do, I can do it.<br \/>\n19:24<br \/>\nI\u2019m not a large corporation, but I can use it if I want. That just means that I\u2019m taxed on the value of a thing.<br \/>\n19:29<br \/>\nFor example, let\u2019s say in December, I have a business that uses accrual based accounting.<br \/>\n19:35<br \/>\nAnd in December I take on a new project where my customer or client agrees to pay me so many dollars per month over the next 36 months.<br \/>\n19:47<br \/>\nAnd I take that contract now and that contract shows up on my accounting records, it has to, and I\u2019m going to be taxed on that income now, and I won\u2019t receive it for three years.<br \/>\n20:00<br \/>\nThis is not what we\u2019re needing to be doing with kryptos.<br \/>\n20:07<br \/>\nSo, there\u2019s more information here, ameen, you can see for yourself.<br \/>\n20:17<br \/>\nThis is very consistent with what I\u2019ve been telling you all, and it\u2019s, it\u2019s, there\u2019s nothing wrong with this.<br \/>\n20:21<br \/>\nIt\u2019s just have to understand where there\u2019s a tax liability, the tax liability really does come from when you file a return.<br \/>\n20:29<br \/>\nNow, if you\u2019ve already filed 1040, there\u2019s a presumption that every year you, oh, now there are ways to stop that presumption. I\u2019m not gonna get into that, and I don\u2019t care about that. I\u2019m just saying, if you guys are managing Kryptos, you understand everything I\u2019ve been telling you is based upon these rules.<br \/>\n20:43<br \/>\nI didn\u2019t, I didn\u2019t even actually read this stuff until recently, I didn\u2019t even care what this says, because I know they\u2019re very specific and very concise, OK?<br \/>\n20:53<br \/>\nNothing is going to change until you do something like El Salvador. Didn\u2019t say the government says, Hey, everybody. Bitcoin is now legal tender.<br \/>\n21:02<br \/>\nWell, that just means it just becomes more, it just becomes currency.<br \/>\n21:06<br \/>\nSo, if that were to happen with a particular crypto coin, then I would look at it just like the US Dollar and the same rules apply.<br \/>\n21:14<br \/>\nSo, if I don\u2019t want to be taxed and I wouldn\u2019t use that coin, just like I wouldn\u2019t use the dollar in that case, right? So.<br \/>\n21:23<br \/>\nLet me see if there\u2019s any comments here.<br \/>\n21:28<br \/>\nOK.<br \/>\n21:29<br \/>\nFreedom law, I\u2019m glad you brought that up, and it\u2019s probably not a good idea to promote other things, although I\u2019m all for it. I mean, you guys should learn as much as possible.<br \/>\n21:38<br \/>\nHowever, Freedom Law. I like pay money, he\u2019s a nice guy. He\u2019s a smart guy, he\u2019s really smart. In fact, he probably knows more way more than me about the tax code.<br \/>\n21:45<br \/>\nHe doesn\u2019t understand how simple this stuff is. You do not need to file lots of papers and pay tens of thousands of dollars to learn a bunch of stuff about the tax code. If you want to emancipate yourself from that system.<br \/>\n21:59<br \/>\nThat\u2019s what he\u2019s all about.<br \/>\n22:01<br \/>\nI don\u2019t care about all that. What I care about is managing risk.<br \/>\n22:05<br \/>\nIf there is a tax liability that I can easily avoid in the course of just doing my normal thing, I\u2019m going to do it and I\u2019ll show you how to do it. I don\u2019t need lots of paperwork for that. I have to document what I\u2019m doing and change my property rights.<br \/>\n22:17<br \/>\nThat\u2019s it.<br \/>\n22:18<br \/>\nThen follow certain accounting practices. I don\u2019t have to send a bunch documents. That\u2019s what \u2026 wants to talk about. If you guys want to do that, knock yourself out.<br \/>\n22:25<br \/>\nIt\u2019s completely, no, I would say, it\u2019s good to learn, but it is not going to help you avoid taxes.<br \/>\n22:34<br \/>\nIt\u2019s going to send you on to a path of paperwork and paperwork is just a mess.<br \/>\n22:42<br \/>\nI\u2019ve been I\u2019ve been telling him that for years, so he knows, he knows he was on this call, he\u2019d say yeah.<br \/>\n22:49<br \/>\nI met him in 2001.<br \/>\n22:52<br \/>\nWell, I think we\u2019re in Cancun.<br \/>\n22:54<br \/>\nYeah. Cracking the code. You know, I\u2019ve talked to so many people now, I have heard testimonials.<br \/>\n22:58<br \/>\nI have heard of people of people that did Piet Hendrickson filing, and maybe it\u2019s technically correct.<br \/>\n23:07<br \/>\nBut what happens is, the iris eventually Issues of frivolous return penalty, unless you refile and ask for, you know, some sort of gift from the IRS, which you can, there\u2019s a form for this.<br \/>\n23:21<br \/>\nYou can get out of that situation sometimes, but Peet Hendrickson should stop promoting these ideas, because it\u2019s just penalizing people and it\u2019s useless. You don\u2019t need to do all that garbage, just like you don\u2019t have to move to Puerto Rico to avoid taxes.<br \/>\n23:36<br \/>\nYou don\u2019t need to do all this stuff. Pete Henrikson, pay him on, freedom, law, all that stuff.<br \/>\n23:41<br \/>\nThey just wasting your time, you\u2019re wasting your money.<br \/>\n23:44<br \/>\nLife is simple when you guys talk to me, I\u2019m like, do you, If you listen to my free consultation call, that is as simple as it is. You simply change your property rights. You recognize what the accounting practices are, what the differences are, and realize when you have a game and simply avoid it.<br \/>\n23:58<br \/>\nIt\u2019s that easy.<br \/>\n24:00<br \/>\nAlright, and the sites again.<br \/>\n24:02<br \/>\nThanks for that question. \u2026<br \/>\n24:04<br \/>\ndot com: Ace of coins, plural dot com that is going to have I helpdesk on there.<br \/>\n24:12<br \/>\nfor the first time ever, I\u2019ve never done it that way. It\u2019s got to be a phone number, a ticketing system, and a chat window.<br \/>\n24:18<br \/>\nNow, the people that are there, it\u2019s a couple of people right now.<br \/>\n24:21<br \/>\nThey can pretty much do anything, and they can answer a wide range of questions. They\u2019re not experts like me, or maybe they\u2019re about to be experts like me, it\u2019s going to take, I give it a few years, but, some of them have been doing this for awhile, OK, Their clients, they\u2019re people that are pro what we\u2019re doing, they\u2019re eager to help everyone who\u2019s new. So, you\u2019re gonna get really good people that care. They\u2019ve been through it. They understand what I\u2019m doing, their clients and, you know, experience and stuff like that.<br \/>\n24:43<br \/>\nIf you need to reach me, that is the place to go. You can reach me through the helpdesk. That is not yet available.<br \/>\n24:49<br \/>\nAnd there are going to be criteria on next it\u2019s it\u2019s going to be overwhelming.<br \/>\n24:52<br \/>\nI know that helpdesk is also going to have resources that you can get information quickly. So, that way, you don\u2019t have to wait but you can\u2019t talk to a real person. That\u2019s my intent there.<br \/>\n25:04<br \/>\nAll right, so, if you want me to, I\u2019ll just put them in here, but.<br \/>\n25:09<br \/>\nSo, and then privacy, fight, of course, privacy, fight dot IO.<br \/>\n25:16<br \/>\nAnd then if you go to YouTube.<br \/>\n25:22<br \/>\nOK, that\u2019s my channel on YouTube Now, I\u2019m sorry about last.<br \/>\n25:26<br \/>\nLast week, I, I recorded the video and everything, and I had to edit a little bit of, it, took me awhile, and then I have a problem uploading it, so I can give you guys the link, so I\u2019m working on as fast as I can, I\u2019ll have that up there, didn\u2019t forget about y\u2019all this call as well, that may take me some time and might be faster with this call.<br \/>\n25:42<br \/>\nSo, I\u2019m changing how I\u2019m doing those things, so appreciate your patience on that.<br \/>\n25:46<br \/>\nBut anyways, um, I hope that mmm hmm helps you sleep better at night, tobey, afraid of the tax person. You don\u2019t need a bunch of documents. You\u2019ll need to prove anything. You don\u2019t need to argue, just do things a little bit differently, and I can tell you firsthand.<br \/>\n26:00<br \/>\nI\u2019m not saying you should do what I do.<br \/>\n26:01<br \/>\nI\u2019m just saying, I have not filed a tax return since 19 93.<br \/>\n26:07<br \/>\nI don\u2019t have a problem with the IRS. I don\u2019t owe the IRS any money. The IRS has not asked me for any money. Doesn\u2019t expect anything from me.<br \/>\n26:13<br \/>\nI live my life in a way that I don\u2019t need to, I use money in a way that benefits my family, but does not do it by creating a tax situation.<br \/>\n26:21<br \/>\nNow, if I were to go work at a job, site, a W four, I get big problems with the IRS because they\u2019d say, Hey, where have you been, right?<br \/>\n26:30<br \/>\nEven though I don\u2019t owe anything, that\u2019s just what they do, and they will probably come up with some sort of bill, they would say, Hey, you haven\u2019t filed for what I guess it\u2019s almost like 30 years now. You haven\u2019t filed, So you\u2019re gonna have to do all these things, and here\u2019s the bill, or they\u2019ll create all these fake returns for me. They\u2019ll do a return for me, if that\u2019s if, I did something like that. So, when I stopped filing in 19 93, that was the last year I filed. I decided I was not going to associate my SSN my name with.<br \/>\n26:59<br \/>\nSo that excludes me from being able to get a W four type job, which kinda makes me work harder and be smarter, right?<br \/>\n27:06<br \/>\nSo, that\u2019s a chosen lifestyle I\u2019ve had. I don\u2019t use an SSN for my credit. So, I have a different way of doing things.<br \/>\n27:12<br \/>\nI carry my own car insurance as my company that insures my car. So, I do things slightly differently. My children were born without birth certificates or SSNs, to this day. They don\u2019t have SSNs. I don\u2019t think they ever will.<br \/>\n27:24<br \/>\nThey don\u2019t have a need to do that.<br \/>\n27:26<br \/>\nThey have credit. My older one has credit. So, no big deal there.<br \/>\n27:30<br \/>\nSo, anyways, you\u2019re talking to a different person. In fact, I\u2019m not even a US citizen. I\u2019m an American national that really doesn\u2019t matter anyways, because I just became an American national in 20 19. So, again, changing your nationality does not change your tax situation.<br \/>\n27:43<br \/>\nI mean, it\u2019s not.<br \/>\n27:44<br \/>\ndon\u2019t do that for that reason.<br \/>\n27:46<br \/>\nOK, being American national might do that. I wouldn\u2019t Bank on it. Yeah, you can go to Puerto Rico, fine. That\u2019s a lot of trouble. I would just go there. Really for being in Puerto Rico. You know, the beaches and boats and things like that.<br \/>\n27:59<br \/>\nAnyways, that\u2019s enough of that, like always, I want to do Q&#038;A or 30 minutes into it.<br \/>\n28:05<br \/>\nLet me know if I missed something.<br \/>\n28:07<br \/>\nAll right. I\u2019m looking here. So if you guys want to ask me something, now\u2019s the time. And it can, OK.<br \/>\n28:12<br \/>\nSo David\u2019s there was the first one, and all right.<br \/>\n28:17<br \/>\nDavid, what he got, John. All right.<br \/>\n28:18<br \/>\nSo I\u2019m dealing with an exchange outside of America.<br \/>\n28:26<br \/>\nGotta move my crypto.<br \/>\n28:28<br \/>\nWould it be better for me to move it not directly to the LLC? Let\u2019s say coin I\u2019m on Coinbase just move it into a wallet.<br \/>\n28:36<br \/>\nAnd then from the my wallet into the Exchange It\u2019s not going to matter just a matter of wallet now. I would I would move from wall to wall so I wouldn\u2019t wire the money. Alright, well.<br \/>\n28:47<br \/>\nit\u2019s much easier yeah, OK.<br \/>\n28:49<br \/>\nUm second thing if I could ask if I could ask why what\u2019s the strategy there?<br \/>\n28:54<br \/>\nSo why I\u2019ve had a I\u2019ve had a I was thinking might fall under the money laundering thing that they\u2019re coming up with.<br \/>\n29:03<br \/>\nBecause I\u2019m on like, uh, Hong Kong exchanges from way back, when they first opened up, some like, grandfathered in anyways, I\u2019ve been using a VPN because I had two nowadays.<br \/>\n29:14<br \/>\nBut, but I was thinking, if there\u2019s some kind of issue, if I went from like, they exchange in Hong Kong, right to Coinbase over here to the LLC and they\u2019ll sale like some kind of monday, Monday Moneyline, Yeah.<br \/>\n29:28<br \/>\nNo, no, sorry. It\u2019s kinda cool. They have Hong Kong, and they\u2019re Not reporting or something, right. They\u2019re not reporting right, right. That\u2019s exactly. They\u2019re not OK.<br \/>\n29:37<br \/>\nAlright, thanks.<br \/>\n29:38<br \/>\nWas one of the things in the The, and actually to others, the W nine, for the LLC, just put the signature authorize signatory?<br \/>\n29:49<br \/>\nExactly. Yeah, good stuff.<br \/>\n29:50<br \/>\nA title, just just don\u2019t even put my name.<br \/>\n29:52<br \/>\nOK, and then, um, one other thing, OK, So I have a question from an exchange.<br \/>\n30:01<br \/>\nI\u2019m also opening up from Gemini, and I\u2019ll just put it in the chat. This is the question, and I\u2019m not sure how I should respond to that. That\u2019s great if you guys wanna post him here, and I can address them because that will help a lot of people.<br \/>\n30:16<br \/>\nYeah. You kind of have to be created with some of this stuff and that\u2019s why, I know it\u2019s a, it\u2019s a, it\u2019s a nuisance to have to answer it.<br \/>\n30:22<br \/>\nBut if you don\u2019t, then I can open the account so that\u2019s why I have kind of a backstory.<br \/>\n30:26<br \/>\nAnd if they asked me a question like, Can I have your organizational chart?<br \/>\n30:29<br \/>\nI said, What\u2019s wrong with you knuckle head on one guy? And I just opened this company. right? Right. Right, or if they say, What about your utility bill?<br \/>\n30:37<br \/>\nI see a lot of people go, Wow, I\u2019m supposed to have that, And I say, What are you talking about? I pay the utility bill, Why does my company, I just set up, It\u2019s done with something else. Yeah, yeah. Yeah, And they access that, just keep it simple. Yeah. Don\u2019t have too much. it from a never, again to have an organizational chart, I\u2019ll let you know.<br \/>\n30:57<br \/>\nThere we go.<br \/>\n30:58<br \/>\nAll right, so what, I can chat here. Source. Oh, yeah, the source of wealth.<br \/>\n31:03<br \/>\nOK, so, source of wealth.<br \/>\n31:06<br \/>\nThat is my hard earned savings and the money from my job if I have any leftover before I pay these.<br \/>\n31:14<br \/>\nYes. Yeah, right. OK. I mean that\u2019s that\u2019s the kind of That is the person who\u2019s opening accounts at Gemini so. Yes, your exact demographic. You\u2019re saving your money and you\u2019re buying kryptos, because your Uncle Bob said. It\u2019s a great idea.<br \/>\n31:28<br \/>\nBeautiful, but what you want to avoid is that you want to avoid something like a complex answer like I sold my company and Something else, You don\u2019t want to get into all that stuff because I\u2019m going to say, oh, your company, you know, right, It just leads to more questions.<br \/>\n31:46<br \/>\nBeautiful. Yeah, what else we got here? And the background source of wealth.<br \/>\n31:50<br \/>\nWhen you say employment income, that\u2019s the background significant amount whether it was raised. OK, employment or inheritance.<br \/>\n31:59<br \/>\nI would say to you, even if it was inheritance unless it\u2019s like a million dollars, no, you just gotta open your account.<br \/>\n32:05<br \/>\nOpen your account with what you call employment income.<br \/>\n32:08<br \/>\nIf you\u2019re sitting there with a million dollar inheritance, you tell them, I\u2019m opening the account with my employment income. Here\u2019s, you know, $20,000 or whatever on my savings.<br \/>\n32:15<br \/>\nOnce your account gets opened, now move this money in, right?<br \/>\n32:19<br \/>\nRight? Tell him the least.<br \/>\n32:22<br \/>\nAnd employee.<br \/>\n32:24<br \/>\nOK, so providing a resume or brief employment history can help That\u2019s nuts.<br \/>\n32:29<br \/>\nI\u2019m sorry, I don\u2019t have a resume, but I do work for so and so or I, you know I do have I do have a job.<br \/>\n32:37<br \/>\nThat\u2019s the best I can tell you and just, yeah, give it OK, Now What? I will just you know war gaming this if they come back to that, OK.<br \/>\n32:45<br \/>\nCan you provide a check, whatever the, you know, your check stubs worse did this? I don\u2019t know, but I heard one guy on YouTube saying Oh, you should just, you know, submit that so you just get over it.<br \/>\n33:00<br \/>\nGet past them, but I was like, but he was dealing with people with an IRA That are, OK. And I, we\u2019re not putting in an IRA, so it\u2019s like, no. right, I haven\u2019t heard that too much.<br \/>\n33:09<br \/>\nI mean, I mean, there\u2019s no problem with doing that.<br \/>\n33:14<br \/>\nI just really hate that like, I would respond by saying, Why do you think I\u2019m lying?<br \/>\n33:18<br \/>\nI mean, Really?<br \/>\n33:21<br \/>\nYeah, You really, I mean, we\u2019re about to have a business relationship. It might turn into millions of dollars, and you\u2019re already not trusting me?<br \/>\n33:28<br \/>\nI\u2019m lying and no?<br \/>\n33:31<br \/>\nAre you collecting this record for someone else? Millimeter, hm?<br \/>\n33:34<br \/>\nWhat security measures do you have if I give you this because my CPA. I asked him for it. Here\u2019s what you do.<br \/>\n33:42<br \/>\nI asked my CPA for that and he said, Are you sure these people are legit? What kind of security do they have on their document retention policy?<br \/>\n33:51<br \/>\nSo that way, it\u2019s not you asking.<br \/>\n33:53<br \/>\nOK, this may be, I always blame it on the CPA.<br \/>\n33:57<br \/>\nHe told me. Yeah. All right. What you want to avoid is indicating implying in any way, or saying outright, that the money you have in there is from each member of your family because they\u2019re afraid of Caribbean. Yes.<br \/>\n34:11<br \/>\nThat\u2019s bad because now you get into money transmitter type situation that requires licensing because it\u2019s not your money or they don\u2019t indicate at all that you\u2019re raising money or that you\u2019re, you\u2019re a money transmitter, or that you\u2019re a fund manager. Or, you know, this is just my personal savings. And I\u2019m the only one doing this stuff. I have 100% of the interest. Yeah?<br \/>\n34:31<br \/>\nThe PMA and all that stuff that I have you guys set up and it doesn\u2019t. That doesn\u2019t affect any of that stuff So, right?<br \/>\n34:37<br \/>\nAlright, OK. Anything else on the Yeah, anything else on this type of question? Do you have any more?<br \/>\n34:43<br \/>\nAt this, I do, but I love getting lost my notes, John. So next up. Let me know.<br \/>\n34:49<br \/>\nOn the on the PMA and credit unions, you know, a lot of The banks don\u2019t like this because they can\u2019t They can\u2019t see. They don\u2019t see it as a liability for a human being.<br \/>\n34:57<br \/>\nThey see it as a way a human being can can get out of liability.<br \/>\n35:01<br \/>\nI mean, it sounds sinister but really, the banks are actually, they, they are set up along with attorneys in CPS to expose you to liability by default.<br \/>\n35:10<br \/>\nMean, if you go pull a standard contract, it, Legal Zoom and an Operating Agreement and Legal Zoom or one of these places, you\u2019re going to find all the references to the Treasury regs and taxes and attorney fees. That\u2019s all it\u2019s about.<br \/>\n35:23<br \/>\nWould you look at my documents thereabout, protecting your interests, your powerful, yeah, as I was reading through them, very powerful, and that, my bank did that right now. They were like, OK.<br \/>\n35:35<br \/>\nCan you send something? They got all confused. I said, just look at the abstract. It\u2019s all in the abstract, like you tell me they just have to find a new bank guides.<br \/>\n35:45<br \/>\nThat\u2019s why I say Bulletproof, because if if I disappeared and no one else could help you, and then, or maybe you decided to give up your operating agreement or you got it subject to a subpoena or something like that, you could give it up.<br \/>\n35:56<br \/>\nDon\u2019t, but you could, and it would still not help the other person.<br \/>\n36:00<br \/>\nThere was a situation like what they try to do is when they ask you for it, it\u2019s what they\u2019re trying to do is see if it\u2019s written in a way that you have the personal life personal benefit in the operating agreement. That\u2019s what they\u2019re looking for so they can say, ah, ha, we can pierce the LLC and make that guy, the 1099 recipient. I\u2019ve had lots of situations like that with clients. And we always get out of it without giving up the operating agreement. But just the same it\u2019s like a double protection if you ended up giving it. It\u2019s still not going to help them.<br \/>\n36:31<br \/>\nThank you, Jim. Alright, so I\u2019m gonna. I\u2019m gonna back up to. there\u2019s a question. I like all these questions here, let me back up because I don\u2019t want to miss.<br \/>\n36:38<br \/>\nUm, if someone wants me go to the Blockchain trust, OK. The concept is this. Now it is in my video, OK, guys. I\u2019m gonna attach a file, Can I do that here?<br \/>\n36:46<br \/>\nI\u2019m gonna attach a file, I can think of, OK, here we go.<br \/>\n36:51<br \/>\nIf you\u2019ll just bear with me.<br \/>\n36:55<br \/>\nI\u2019m sorry, I\u2019m just.<br \/>\n36:59<br \/>\nOr I\u2019m gonna say. I think I made it available. OK this file links to three videos.<br \/>\n37:04<br \/>\nI did three videos on this concept of the blockchain and why the exchanges Are not changing ownership because I\u2019ll just summarize it because The exchanges are the owner of the coins and When you\u2019re trading coins between coins and coins all you\u2019re doing is trading beneficial interests and the coins the exchange retains ownership all the way so that makes the exchange the trustee.<br \/>\n37:33<br \/>\nIn fact, it makes the account holder the beneficiary so that\u2019s the scoop on that so there is no trading of coins for coins or someone else\u2019s coins.<br \/>\n37:43<br \/>\nLike the IRS wants to see.<br \/>\n37:45<br \/>\nBecause of the technology, all right?<br \/>\n37:49<br \/>\nThat\u2019s for the newcomers if that helps. Now newcomers I\u2019m sorry if I if I can\u2019t find it. or maybe I can find it this way, OK. Send file, OK, hit here. Let me do this, if I can.<br \/>\n37:59<br \/>\nmodel through my computer here, and I\u2019m going to look for this.<br \/>\n38:08<br \/>\nThe coin file, that\u2019s what I just did the other day.<br \/>\n38:11<br \/>\nI\u2019m gonna leave it as it was May answer May, and Then This Should, this should give you the link, this will give you the link.<br \/>\n38:25<br \/>\nOK, it\u2019s a different folder Get back one.<br \/>\n38:34<br \/>\nOK, it\u2019s really important this is going to summarize everything for you.<br \/>\n38:37<br \/>\nNow I have a lot of other material on the tax issue, but this may really get you right to the punchline here.<br \/>\n38:49<br \/>\nSo, here we go.<br \/>\n38:52<br \/>\nThis is a PDF file.<br \/>\n38:56<br \/>\nAnd you\u2019re getting it right here in the chat window.<br \/>\n39:00<br \/>\nThere\u2019s 3, 3 video links in there.<br \/>\n39:03<br \/>\nThere\u2019s a short video and there\u2019s a couple of months.<br \/>\n39:05<br \/>\nSo that should answer all the questions for the newcomers regarding the exchanges and the blockchain trust.<br \/>\n39:16<br \/>\nPart of the term I use is for marketing, but really I wanted people to understand just by looking at my offer that there\u2019s something else going on with these exchanges, so it is a trust relationship Sorry, John, nothing on the chat.<br \/>\n39:31<br \/>\nI can see anything on the chat OK, it takes a second to load.<br \/>\n39:37<br \/>\nNeither does it just popped up You see it.<br \/>\n39:41<br \/>\nNow?<br \/>\n39:42<br \/>\nOK, Well, I will put it on the ace of coins, all right, on the telegram?<br \/>\n39:52<br \/>\nWant you guys to see, I thought I saw on the chat Oh cool, alright, I\u2019ll put on both any might have to go. you might be using it to everybody raises one person.<br \/>\n40:01<br \/>\nOh, I don\u2019t know, let me, let me put it on telegram just to be sure.<br \/>\n40:05<br \/>\nThis, this XOOM thing is not that useful, helpful.<br \/>\n40:09<br \/>\nIt\u2019s really worth it to go over this.<br \/>\n40:14<br \/>\nThis is, I\u2019m showing you how to actually calculate gross income tax, OK, because sometimes, you will have to report some money, and then you gotta figure out how to do your cost basis.<br \/>\n40:24<br \/>\nSo anyways, it\u2019s on Telegram and the ace of coins, and then maybe I\u2019ll just, I don\u2019t know how I put it here, but anyways, I\u2019m gonna, because I hope that helps you out.<br \/>\n40:34<br \/>\nBackground source, OK. Backup.<br \/>\n40:37<br \/>\nAdditional background, OK.<br \/>\n40:41<br \/>\nAll right. Now on kilobit brown, the documents I give you are for them. I mean, when they get them, they\u2019re just, they never, they are the easiest ones to open up. I wish everybody would. Use Caliber Brown.<br \/>\n40:52<br \/>\nUm.<br \/>\n40:55<br \/>\nYeah, so, in fact, there was one change I had to make in the documents for Kilbane Brown, which is in all the documents. So now, when I use my standard documents, you\u2019re gonna get your account open very easily.<br \/>\n41:10<br \/>\nSuggest steering away from credit unions? Yes, sometimes the credit unions, they don\u2019t like \u2026, because, you know, like I said, they\u2019re trying to create liability, and they just see that someone, they want to see a human being as the owner of the LLC, because they\u2019re so used to seeing it, and that\u2019s why. That\u2019s why I put that BSA compliance memo.<br \/>\n41:27<br \/>\nI don\u2019t know. Sometimes they just don\u2019t care, right?<br \/>\n41:30<br \/>\nAnd yeah, credit unions, maybe you have to avoid them.<br \/>\n41:32<br \/>\nState banks, it\u2019s hit or miss with those guys, the NAs, the big ones that Wells Fargo, Bank of America, those seem to be pretty good.<br \/>\n41:42<br \/>\nSo yeah, it\u2019s kind of like a shopping game there. Could you kind of go over the blockchain trust concept? All right, so that was the idea there.<br \/>\n41:47<br \/>\nI just sent you the article two questions about trust when I applied for EIN. I\u2019ve not put the trust word at the end, OK.<br \/>\n41:56<br \/>\nSo, let\u2019s be clear, is it a trust document, or is it the LLC? Those two different things. When I write an LLC, it is an LLC.<br \/>\n42:04<br \/>\nIt is not a trust, even though there\u2019s a PMA that owns it, maybe, or even though there\u2019s a trust that might own it, it is an LLC.<br \/>\n42:11<br \/>\nSo, as long as the EIN is issued to the name of the LLC on the approval letter, with comma, LLC, or with space, LLC, there\u2019s no comment there on the approval letter.<br \/>\n42:23<br \/>\nAs long as the LLC designation is on the name of your company, and there\u2019s an EIN Assigned, you\u2019re in good shape, It doesn\u2019t matter how you got there.<br \/>\n42:30<br \/>\nBecause your EIN application and the information you disclose is not binding on the company or anyone. That means that. You can change it anytime you want, and it\u2019s not really public record.<br \/>\n42:40<br \/>\nYour articles are the only thing that make a difference.<br \/>\n42:45<br \/>\nSo open an account to different banks and seminar reporting to have trust or LLC at the end of your applications.<br \/>\n42:51<br \/>\nYeah, if you\u2019re using an LLC, or if you\u2019re using a trust, make sure that\u2019s designated because otherwise it\u2019ll be considered a sole proprietor or an alter ego, or a DBA that is so important.<br \/>\n43:01<br \/>\nIt means everything to have an LLC designation, PMA designation now, PMA. I don\u2019t recommend those for doing everything like the LLC does.<br \/>\n43:09<br \/>\nYou can I just don\u2019t like it. You run into problems. It can certainly be done.<br \/>\n43:14<br \/>\nI don\u2019t wanna have problems with my clients I already have enough, right? So I make it as smooth as possible.<br \/>\n43:18<br \/>\nSo my recommendation is the PMA. If that\u2019s what you\u2019re going to use, is the owner of the LLC and that\u2019s all it does.<br \/>\n43:25<br \/>\nSpecial purpose that\u2019s all it does.<br \/>\n43:27<br \/>\nYeah, you can, yeah, you can use, All right, so I use only, right, you could do that, you could use your name for the name of the trust, no problem.<br \/>\n43:35<br \/>\nYou can use any name really, and then make sure the beneficiary is different.<br \/>\n43:39<br \/>\nSomeone said, I use my name for the trust, the successor trustee and beneficiary, OK, that\u2019s not trust that.<br \/>\n43:45<br \/>\nSo if your name, and that\u2019s one of the tests I ask clients, if he\u2019s coming to me, someone\u2019s coming to you with the trust, I want to make sure it\u2019s really a trust.<br \/>\n43:52<br \/>\nSo, there has to be a trustee and a different beneficiary, and not a company that the trustee owns, it has to be, you, really, a new person, OK? That\u2019s the best way.<br \/>\n44:04<br \/>\nAll right? You could have problems, if somebody exam is that if someone wants to test the, test, the validity of your trust, or, you know, what\u2019s, what\u2019s really the hard thing to do, want to trust this. Why don\u2019t like to use them for the rest of the world.<br \/>\n44:16<br \/>\nI like to use them for privately owned things or owning my vehicle stuff that, you know, I don\u2019t want to if I, if I own my vehicle with a trust, I know that\u2019s all I\u2019m going to do with it. If I try to get into a business with a trust, I\u2019m gonna end into all kinds of things. I\u2019m gonna get into equipment leasing, lease agreements, all this stuff, and then, I don\u2019t want my trust tied up and all that, I want to use an LLC, and my trust be the owner.<br \/>\n44:35<br \/>\nSo the worst situation is, if someone tries to make a claim against you and then uses the name of your trust and claims that your alter Ego is your DBA, you got, big problems that, because now it shifts the burden of proof on you.<br \/>\n44:50<br \/>\nIt\u2019s in most most forums, so be careful about that.<br \/>\n44:54<br \/>\nRight, And a good place for beginners to learn, getting started kryptos, OK, if you want to just start with kryptos, this is how I did it. This is how I still recommend it, Go on.<br \/>\n45:05<br \/>\nYouTube, or anywhere on the internet, but YouTube.<br \/>\n45:09<br \/>\nYouTube has the oldest content and the most diverse content on, beginning with Kryptos, search on phrases like Bitcoin 101, Bitcoin for Beginners, OK, things like that, and just get all the content and just binge watch it, you know, set aside time, I listen to it on two speed or something like that. And that\u2019s what I recommend.<br \/>\n45:31<br \/>\nAnd then when you\u2019re comfortable, open up a wallet like a blockchain dot info and put some coins in there.<br \/>\n45:37<br \/>\nNow you might have to go buy some coins from somewhere, maybe your local Bitcoin Exchange, or maybe after. I wouldn\u2019t say go open up an account at Coinbase right away.<br \/>\n45:44<br \/>\nYou could, That\u2019s kind of an intimidating experience. It\u2019s probably easier with blockchain dot info. In fact, you could probably just call up a friend and say, Hey, if you\u2019ve got some Bitcoin, can it give you some cash?<br \/>\n45:54<br \/>\nAnd just send me some Bitcoin to my wallet, I\u2019ve done that before, just to get people started. So that would be what I\u2019d recommend.<br \/>\n46:01<br \/>\nAll right. Kim Brown, yep, OK, open a blockchain trust with the credit union, OK. Good.<br \/>\n46:07<br \/>\nAlright. And the liabilities, as you always have labeled everybody has liability issues with the blockchain trust, the way I set up the LLC.<br \/>\n46:14<br \/>\nWith a credit, you have a credit union account, and there\u2019s a single member, OK. The trust is the single member, LLC, if I understand you correctly here. Do you have liability issues, OK? You asked me too difficult, you\u2019re saying two different things. Yeah.<br \/>\n46:27<br \/>\nYou\u2019re you\u2019re a signer of an LLC and a bank account, OK?<br \/>\n46:33<br \/>\nAs the seiner There, the property and the account is not connected to your personal liability. You can have all kinds of personal liability. I don\u2019t know what that is. But that is severed because of the way we\u2019ve written this yellow sea as the account holder.<br \/>\n46:48<br \/>\nAnd you\u2019re not the owner of it.<br \/>\n46:49<br \/>\nSo I guess there\u2019s no connection there if that answers your question.<br \/>\n46:54<br \/>\nAll right. And then has Quen, Coinbase is always asked 100 word description of my business.<br \/>\n46:59<br \/>\nHundred word description, I haven\u2019t heard that one yet.<br \/>\n47:02<br \/>\nMore or less they have though.<br \/>\n47:04<br \/>\nUm, yeah, wait, OK, so what you tell him is, kind of what we put in the articles. So in the articles I put, this company is organized for all lawful purposes.<br \/>\n47:16<br \/>\nIncluding, but not limited to investing in real estate, and occasionally, staging. Real estate for this for resale.<br \/>\n47:24<br \/>\nOr, the management of property and on occasion may acquire or sell real estate, um, tax liens.<br \/>\n47:38<br \/>\nOK, how many words is that?<br \/>\n47:40<br \/>\nI don\u2019t know, maybe it\u2019s not a 100 but I think that would be enough to give them the information and it\u2019s totally BS But it\u2019s legitimate. And you can also see something like, I\u2019m learning real to invest in real estate. And my cousin is showing me, how are my brother showing me how my business partner said it\u2019s a great idea right now. And so, I\u2019m new to this, and just keep on saying that, right, just this long explanation, You can just do that, too.<br \/>\n48:05<br \/>\nYou\u2019re going to appear like just the normal Joe Blow, OK. Can refer people to you besides freedom, law, if I decided to be an entrepreneur and partner with you. Yeah, definitely, That\u2019s how I do things. I mean, I love to talk to people, and then their friends, and then their partners and things like that, And it\u2019s just fun. I mean, I talk to people that have areas of expertise that. I actually would use them as a partner or a business associate of some kind. So that\u2019s what that\u2019s what we do as entrepreneurs. Absolutely. Please send me people, if, you know, I would send people to freedom Life if I thought it would benefit them, you know, I don\u2019t care.<br \/>\n48:37<br \/>\nSo, sure, IRA\u2019s put my name as the sole member under the LLC name.<br \/>\n48:41<br \/>\nHow did the iris do that? Was that on an EIN application?<br \/>\n48:45<br \/>\nAnd if it was, so what?<br \/>\n48:48<br \/>\nNo big deal.<br \/>\n48:51<br \/>\nRemember, nobody puts your name as the sole member on an LLC, OK? It may appear that way in an EIN application.<br \/>\n49:00<br \/>\nYou may end up that way, So what that\u2019s not problem You alone control how the articles are filed and the articles determine who is the owner of the company.<br \/>\n49:11<br \/>\nSo it\u2019s all in your hands, OK.<br \/>\n49:13<br \/>\nAnd no one can do that for you, not even the bank Finance Academy is really good as well, yeah. Is that Finance, By an SCR OK Or by Nance? Yeah, there\u2019s some good ones out there. There\u2019s some good beginner crypto people that you pay for service, and it\u2019s probably worth every penny, because it probably save you money. It probably saves you money to hire somebody to help you out.<br \/>\n49:33<br \/>\nSo, yeah, I would just get into it that way. Take your time, Take small risk, use the traditional rules about, don\u2019t risk more than you\u2019re willing to lose a course.<br \/>\n49:42<br \/>\nBe very cautious about proceeding slowly, like, like, when I did it, learning the seed code process and storing it, and learning how thinking, how to have a secure location for that data was important. And so, I just started with a small amount of money. I mean, what am I willing to lose 20 bucks, something like that, Right. I started in 20 13.<br \/>\n50:01<br \/>\nSo it was not as easy back, then. It\u2019s easier now. So I started with a small amounts of money, and when I got comfortable with it, I was really comfortable with moving large amounts of money.<br \/>\n50:09<br \/>\nNow, it doesn\u2019t matter to me, But I\u2019m still cautious because, you know, you can just one little thing you can mess up your seed code or misplace it, or something like that, So, great idea, yep. All right. So does the ultimate course have everything? I hope it does. I hope the ultimate course has everything now.<br \/>\n50:26<br \/>\nYou can probably muscle through it right now, but in my opinion, I have not completely added everything, and I intend to, probably this quarter, it\u2019s coming soon, OK?<br \/>\n50:36<br \/>\nSo my intent is so that you can, if you want to, go the route of the video membership, and watch the videos, and within, let\u2019s say, within the hour, You can have pretty good working knowledge to actually register your company, and get off the ground and start going, and, and everything works fine.<br \/>\n50:59<br \/>\nYeah, and sample documents are going to be there.<br \/>\n51:03<br \/>\nI took down some of the older ones. I want to revise them, so I will put up the sample documents.<br \/>\n51:08<br \/>\nAnd in the future, as I, as I change them, I\u2019ll put up the new ones when moving from coins to Fiat, from the LLC Exchange account, to a personal account.<br \/>\n51:21<br \/>\nWhat\u2019s the best way to remove tax liability on the personal account?<br \/>\n51:24<br \/>\nWell, on the personal account.<br \/>\n51:27<br \/>\nDon\u2019t sell coins in your personal account for dollars.<br \/>\n51:32<br \/>\nDon\u2019t dispose of the asset in your name.<br \/>\n51:34<br \/>\nIf you have to dispose of the asset, use the LLC.<br \/>\n51:37<br \/>\nAll right, that\u2019s the easiest way.<br \/>\n51:39<br \/>\nAppreciate you. Appreciate your comments on the videos. I\u2019m glad they\u2019re helpful. I\u2019m glad you like them. Appreciate that. Um, is there somewhere we can learn? What you, Yeah. I mean. I am going to have a USB port installed right here.<br \/>\n51:52<br \/>\nAnd then if you guys plugin there, I can just download my knowledge and you guys can have it.<br \/>\n51:56<br \/>\nGosh, I wish I could do that for anything else. I wish I could, you know, like on the matrix? I can learn to fly a helicopter real fast, I wish we could do that. But, no.<br \/>\n52:04<br \/>\nI might, full intent, is to give you the core principles, and examples, so that you can, as fast as possible, get the knowledge that I have, and move forward.<br \/>\n52:16<br \/>\nOK, so, I don\u2019t know if that helps you, but let\u2019s just say, reasonably, if you pay attention within three months, it\u2019s kinda like a mini college course. Hopefully, you\u2019re going to get it.<br \/>\n52:24<br \/>\nAnd, clients that I\u2019ve worked with over the years, I\u2019ll tell you, they, they are really good with this stuff.<br \/>\n52:31<br \/>\nI mean, I\u2019ve got clients now that are friends and for friends for many years, and in fact, I\u2019ll call them up, ask, ask for favor.<br \/>\n52:37<br \/>\nI just ask one of them a crazy favor that he was able to pull off, it was amazing.<br \/>\n52:42<br \/>\nBut, um, these people are become experts unto themselves, they don\u2019t need to call me up. In fact, they\u2019ll call me up and tell me stuff, they did that. They never even asked me or anything, so you will get there. It\u2019s just like anything else, just like a medium, If you never drove a car before and the first time, and you\u2019re nervous, and everything, eventually, not only know how to drive it, but you know how to change the tire stuff like that.<br \/>\n53:02<br \/>\nSo, all right, I told you I was going to try to make this entertaining. I don\u2019t think my sense of humor is always that good, but But anyways, you see what I\u2019m showing you guys: OK, let a ruling, look at the source, Understand what a letter ruling is. It is not a regulation, but let\u2019s just act like it is, and it gives you the same information that\u2019s in the regs. It is commentary. If you go to tax court over dispute, which you\u2019re not gonna have here, I don\u2019t see that happening for anybody.<br \/>\n53:30<br \/>\nThis is going to have some weight.<br \/>\n53:32<br \/>\nSo just understand the terms.<br \/>\n53:35<br \/>\nEverything I\u2019ve told you so far is consistent with this letter ruling. There\u2019s no tax liability when you, I mean, if you do what I\u2019m showing you.<br \/>\n53:42<br \/>\nYou\u2019re deferring it, OK.<br \/>\n53:45<br \/>\nIf you start seeing kryptos annexed, or designated as legal tender.<br \/>\n53:52<br \/>\nWell, then, OK, that crypto coin now becomes the dollar.<br \/>\n53:56<br \/>\nIt\u2019s the same thing, and you know, the rest.<br \/>\n54:00<br \/>\nYeah. I appreciate that. I would love to work with somebody. Canada, if someone could work with me on a regular basis, I could show that person, a lot of the different things. And that person, I hope, would have some technical knowledge, and that would help me. I did talk to an accountant.<br \/>\n54:15<br \/>\nAnd it\u2019s funny how they\u2019ll tell you the truth.<br \/>\n54:18<br \/>\nAfter or they\u2019re omit certain things when they\u2019re retiring, and he said he was retiring, and so I said, Tell me this, You know, and we started talking about the different things, and he goes, Yeah, you know, that makes sense. We can do that here, sure. It\u2019s just like there. And so, he confirmed a lot of the things I suspected.<br \/>\n54:32<br \/>\nThe one thing about Canada, though, is: I think that: it\u2019s, it\u2019s a little bit more, I don\u2019t know.<br \/>\n54:38<br \/>\nYeah, the court system, and the tax system, it doesn\u2019t have as many protections as we have here in the states, so, yeah, an accountant, OK. So, you just said, You need an accountant there, when you silkworm, OK?<br \/>\n54:52<br \/>\nIf you need an account, what I would say to you is, you need an accounting function, you need somebody to do accounting, and for that, I would use a bookkeeper, they can do accounting.<br \/>\n55:02<br \/>\nIf you need, if you need tax returns prepared, you can have a CPA here. If you don\u2019t like our CPAs here, it can\u2019t work it out with them.<br \/>\n55:10<br \/>\nYou can find people that are highly competent in India, or on Craigslist, OK? You can hire people that are certified accounts, public accounts.<br \/>\n55:20<br \/>\nYou can get the equivalent of a CPA in India.<br \/>\n55:22<br \/>\nI did this for my dentist, so I had him go and he found two firms for him, and I\u2019ve used those guys before for other things. But they\u2019re really good with English tax law, American tax language tax, or whatever. So I would recommend that if you need an account here.<br \/>\n55:34<br \/>\nBecause it\u2019s just the same because you can send your data over the internet and they can send you back the results, or they can do things for you.<br \/>\n55:42<br \/>\nSo understand that if you want to have some privacy, consider that.<br \/>\n55:47<br \/>\nAll right. Let me see here.<br \/>\n55:50<br \/>\nAll right. Let me make sure I didn\u2019t.<br \/>\n55:53<br \/>\nWhen you say this sell the coins in the LLC physician to paper dollars Do you then transfer the money to the personal account, and there\u2019s tax OK?<br \/>\n56:04<br \/>\nThere\u2019s more to this.<br \/>\n56:04<br \/>\nOK, so if I sell coins, if I invest in Kryptos, and I want to avoid the tax liability on the initial taking profits, so I sell my coins now that are worth more, I get a bunch of dollars in my LLC account.<br \/>\n56:16<br \/>\nI need some way to allocate those, so let\u2019s say it\u2019s a lot of money.<br \/>\n56:20<br \/>\nWell, I would probably end up putting those in another investment. I would roll it over so that would defer the tax. Keep deferring the tax.<br \/>\n56:26<br \/>\nIf I\u2019m gonna buy myself a car, I would wire the money from my LLC account. Let\u2019s say I put a million dollars in there, and then I\u2019d just take 50,000 out to buy a car.<br \/>\n56:35<br \/>\nWhen I buy the car, I\u2019m going to title in the name of a trust, or an LLC, or that LLC, or I\u2019m going to put it in my name. And then, real quick, I\u2019m going to tell the dealer.<br \/>\n56:44<br \/>\nThis money that I\u2019m buying the car with is coming from my lender and the lender\u2019s name is such and such, And here\u2019s this address and EIN, and the dealer will write up all the documents needed to put a lien on the title and send those documents to your lender.<br \/>\n56:57<br \/>\nNow, that lender could be your company, your company could have your own home address.<br \/>\n57:01<br \/>\nNo problem, So, that\u2019s how I would do it. Same thing with a house, OK?<br \/>\n57:06<br \/>\nBut, otherwise, if it\u2019s a large amount of money, I would recommend having an asset re-allocation plan.<br \/>\n57:12<br \/>\nAll right. So that comes down to, like give him a brief overview on that, a two category.<br \/>\n57:18<br \/>\ntwo categories of assets: one is probably going to usually be real estate. OK, has an easy goto.<br \/>\n57:24<br \/>\nAnother one would be somewhere where you believe you have proficiency or help or consulting. Or it can have some proficiency in a class of assets that you could be comfortable investing in.<br \/>\n57:35<br \/>\nNot pick something like on the stock market, because your uncle Bob said, it\u2019s great!<br \/>\n57:39<br \/>\nThat\u2019s my recommendation, so I covered that in some other calls.<br \/>\n57:44<br \/>\nAlright, so folks have the report. Kryptos they have in a while, OK, so they feel like they have to report Kryptos. They have in a wallet as advised by their accountant. Can you recap this, please? Yeah, sure.<br \/>\n57:55<br \/>\nSo if I have stock, I own stock, and it becomes worth more.<br \/>\n58:00<br \/>\nAnd I don\u2019t sell it, and I didn\u2019t take a dividend.<br \/>\n58:05<br \/>\nWell, that\u2019s not income unless it\u2019s accrual based accounting.<br \/>\n58:10<br \/>\nI don\u2019t know if you\u2019re reporting that or not, You shouldn\u2019t.<br \/>\n58:13<br \/>\nIn my opinion, you shouldn\u2019t.<br \/>\n58:15<br \/>\nAs long as you don\u2019t sell it or receive a dividend in dollars, it\u2019s not taxable.<br \/>\n58:19<br \/>\nJust like even these are staking contracts on the Internet you\u2019re receiving returns as they call them in the coin.<br \/>\n58:27<br \/>\nThat\u2019s not going to create a taxable situation, especially with cash based accounting.<br \/>\n58:32<br \/>\nWhether or not it\u2019s a personal account or LLC account, I would just recommend an LLC account, anyways.<br \/>\n58:37<br \/>\nAll right, so, I don\u2019t know if I was too short on that, but you do not need to report your crypto holdings because you\u2019re going to make yourself mad, crazy, because first of all, the software on the exchanges doesn\u2019t work, it\u2019s erroneous.<br \/>\n58:51<br \/>\nIf you have a 1099 for a personal account and it\u2019s it\u2019s incorrect like factually incorrect that you did not receive the dollars data on 1099, we can correct that your CPA, apparently, I don\u2019t know of any what they\u2019re doing, this, I\u2019ll train him, if he felt they\u2019ll do it.<br \/>\n59:06<br \/>\nThey can get a determination letter showing that 1099 is not taxable.<br \/>\n59:10<br \/>\nOK, the amount stated there is not taxable, so, it\u2019s just that they are uninformed, I should say, to be polite or don\u2019t care, OK, they\u2019re giving you the wrong advice.<br \/>\n59:22<br \/>\nI have never had a problem with this, and not only that, I\u2019ve never had a problem doing these things.<br \/>\n59:27<br \/>\nI\u2019m telling you guys with kryptos, since 20 13, I have never had a problem doing these same things with anybody since 1994.<br \/>\n59:38<br \/>\nI\u2019ve been doing this a long time, with all kinds of thought of assets, or whatever things, real estate stokke, whatever.<br \/>\n59:46<br \/>\nNever had a problem.<br \/>\n59:47<br \/>\nGetting people out a lot of problems, actually, they, they, in fact, a lot of, a lot of my clients over the years, have been Victims of CPA\u2019s. That\u2019s how I learned a lot of this stuff.<br \/>\n59:56<br \/>\nUn, un mess it up, OK.<br \/>\n1:00:03<br \/>\nYeah, please follow the videos I have in the content, because if you feel like you have to do it, ask yourself why, please go and look at my content, Look at this article I just sent you. There\u2019s another article, I, maybe I should republish it. It is the one on where\u2019s the crypto tax, OK? I\u2019m gonna put it on I\u2019ll put on to tell a telegram.<br \/>\n1:00:20<br \/>\nThe article I wrote, Where is the crypto tax?<br \/>\n1:00:22<br \/>\nAll right, this may help you. So, how can you pay for living expenses?<br \/>\n1:00:27<br \/>\nYeah, OK.<br \/>\n1:00:29<br \/>\nReasonably.<br \/>\n1:00:31<br \/>\nThe thing, the taxable income you\u2019re left with out of your $20 million new windfall OK is still your $80,000 a year income.<br \/>\n1:00:43<br \/>\nSo you can\u2019t get out of telling the IRS, I have zero income when you actually have a light bill and a mortgage, and a car payment.<br \/>\n1:00:50<br \/>\nThey\u2019re going to say, well, who\u2019s paying your car payment?<br \/>\n1:00:53<br \/>\nAnd if it\u2019s your Uncle Bob, or if it\u2019s the man on the on Mars, it doesn\u2019t matter. The fact is, if it\u2019s your car payment, and it\u2019s being paid, then it\u2019s your income.<br \/>\n1:01:03<br \/>\nAll right, So for personal expenses, that is going to be part of your taxable income.<br \/>\n1:01:08<br \/>\nIt doesn\u2019t matter where the money came from, but what we\u2019re talking about here is I want to roll over this money in a tax deferred way, because it can\u2019t be taxable at some point. The future depends on what you do.<br \/>\n1:01:18<br \/>\nI can keep rolling it over though, to new assets and funding new companies without creating a tax liability, Almost like a 1031 exchange.<br \/>\n1:01:25<br \/>\nThat\u2019s what we\u2019re talking about.<br \/>\n1:01:30<br \/>\nHeard of Infinite Banking. Yeah, OK, So Infinite Banking is a risk management tool, Keep in mind there\u2019s a lot of front loading, meaning commissions you open an account, you get a life policy.<br \/>\n1:01:41<br \/>\nIt\u2019s for managing risks.<br \/>\n1:01:43<br \/>\nIt\u2019s a clever idea, but just run the numbers and make sure it makes sense to you, because you\u2019re gonna pay huge commissions.<br \/>\n1:01:51<br \/>\nIt might be worth it, but check it out. Maybe it\u2019s not. So it\u2019s either going to be taxes or commissions, right?<br \/>\n1:01:57<br \/>\nIf you\u2019re using the LLC method, I\u2019m recommending you can\u2019t structure loans without that. So, you\u2019ve got options there.<br \/>\n1:02:04<br \/>\nYeah, and you can buy everyday things, you can buy cars in real estate and things like that. Just don\u2019t tile in your name, or if you do, make sure you put a loan on it, and how you put a loan on it.<br \/>\n1:02:13<br \/>\nIf I buy a house in my name for my New Windfall and pay cash for it. Now, keep in mind your first risk is putting cash into A liability. You\u2019re guaranteed negative returns, right?<br \/>\n1:02:23<br \/>\nIt\u2019s always going to cost you money or houses, not your asset.<br \/>\n1:02:27<br \/>\nBut, if I want to buy the house and put it my name, I\u2019m going to record a mortgage against the title, the property, and then I\u2019m going to make my LLC or a new LLC the lender, OK, and I\u2019m also going to document my ability to pay OK, whether it\u2019s deposits in the bank account, or I\u2019m setting an aside on a balance sheet somewhere.<br \/>\n1:02:47<br \/>\nMy mortgage payments and the interest rate, and the numbers on there should be consistent with a normal mortgage at this time, at whatever time. Within a few years of when you\u2019re doing this.<br \/>\n1:02:59<br \/>\nYou need the mortgage A document, and you need the note. Now, I mentioned a while back.<br \/>\n1:03:02<br \/>\nI did a video on this, to get the mortgage document you can do this yourself. Am I even have a video on how to do this? You go to Sallie Mae.<br \/>\n1:03:12<br \/>\nYou just Google this Sallie Mae securities, mortgage securities forums by state, or something like that. OK, Google that you\u2019ll run to the government website and go by your state and download the mortgage and note. Now the note you have to find that again.<br \/>\n1:03:27<br \/>\nBut you can get a trust deed or a mortgage from Sallie Mae, Mortgage Securities online for free download that you can edit the document.<br \/>\n1:03:37<br \/>\nI use bankrate dot com to do an amortization of my Mortgage payments. I don\u2019t wanna get off into that too much, but that is how you buy it. And yeah, you can donate to a charitable organization.<br \/>\n1:03:48<br \/>\nYou\u2019re just not going to get a tax benefit because the LLC doesn\u2019t file and the way I like to look at it is, I do donate places and I don\u2019t ask for tax benefit.<br \/>\n1:03:57<br \/>\nBecause I feel like if I\u2019m donating somewhere, I want that to be my money that I\u2019m donating that I worked for, that I was smart enough to earn, that I donated for a cause. That I believe in.<br \/>\n1:04:08<br \/>\nI do not want to write it off because then I\u2019m denn people that fall 10, forty\u2019s the taxpayers and the taxpayer system.<br \/>\n1:04:19<br \/>\nRight off is going to be spread amongst the people that are filing tax returns and I didn\u2019t want them to have a share of my being my charitable contribution.<br \/>\n1:04:30<br \/>\nYou see, if I give to charity, I want it to be me, I\u2019m very selfish, that way I did it, I didn\u2019t write it off and get a discount it, that\u2019s not fair, that\u2019s not really charity.<br \/>\n1:04:41<br \/>\nI\u2019m, you know, Now corporations don\u2019t have a conscience. They think differently, they don\u2019t think at all.<br \/>\n1:04:45<br \/>\nSo that is not good business in terms of like accrual based accounting and big, big corporations.<br \/>\n1:04:52<br \/>\nSo if I were running a C, a big corporation, as the Chief Operating Officer, or CFO or something, probably wouldn\u2019t get the job in the first place, or they fire me. So, that\u2019s not good advice, in that sense.<br \/>\n1:05:02<br \/>\nBut, for giving to charity, just accept the fact that it\u2019s not going to be deductible.<br \/>\n1:05:09<br \/>\nAll right, so, how can I pay for living expenses? All right, Some info, right?<br \/>\n1:05:14<br \/>\nYeah, the accountant\u2019s, I mean, here\u2019s what I do.<br \/>\n1:05:16<br \/>\nWhen I get a bookkeeper, I just give them the documents I need, I need him to get the numbers from, which might be just my bank statement. It might be my bank statement. And some hand-written notes are a part of my e-mail message, and he\u2019ll do it.<br \/>\n1:05:31<br \/>\nI like bookkeepers that don\u2019t care, but my name is.<br \/>\n1:05:34<br \/>\nSo I literally give all kinds of names. Charlie Brown, it doesn\u2019t even matter. Sometimes I don\u2019t end up given my name.<br \/>\n1:05:42<br \/>\nYeah, relocation That\u2019s the big thing. You guys are spending a lot of time to learn about kryptos and you thought you thought it\u2019d be like, It\u2019d be like stock I can just put money, and poof, I\u2019m rich. And maybe it\u2019s something like that, but there\u2019s a lot more to it.<br \/>\n1:05:54<br \/>\nAnd re-allocation, it\u2019s a different world.<br \/>\n1:05:56<br \/>\nSo, people think, Once I get rich and Kryptos, or I\u2019m already rich and kryptos, for example.<br \/>\n1:06:02<br \/>\nI don\u2019t have to work anymore, OK? That may be true.<br \/>\n1:06:04<br \/>\nYou don\u2019t need a day job, but you got your work cut out for you, because you still have to manage that network. Trust me, you gotta do stuff. All right, you gotta be smart, because you could lose it, too.<br \/>\n1:06:13<br \/>\nSo, all right, so, all right, happy to help anyone.<br \/>\n1:06:18<br \/>\nOh, that\u2019s nice, OK. Well, Brian is offering to help.<br \/>\n1:06:23<br \/>\nWork with like minded folks, feel free to suggest anyone calling, So this guy is giving out his phone number. I don\u2019t mind given that out.<br \/>\n1:06:29<br \/>\nIf you guys want to get help, Brian\u2019s offering to help, he wants to help with kryptos.<br \/>\n1:06:38<br \/>\nI think we kind of hijacked the call from the people that Heather Hendry\u2019s, I\u2019m sorry about that.<br \/>\n1:06:44<br \/>\nBut I\u2019m gonna give your number out, Brian, it\u2019s 4 6 9, 768-0614, you asked for help on crypto is you got it? All you beginners out there.<br \/>\n1:06:58<br \/>\nAnd then his e-mail is Brian at cache, C a C H E O, flow dot IO.<br \/>\n1:07:09<br \/>\nAnd cash flow dot IO, Same thing, C a, C, H E, flow dot IO.<br \/>\n1:07:17<br \/>\nNice, OK, I know, hands up, OK, let me try to get you guys real quick.<br \/>\n1:07:23<br \/>\nOK, let me try to get to, I think Anthony has been there for awhile, Anthony, and was it free?<br \/>\n1:07:29<br \/>\nFree, Bert was next Anthony there?<br \/>\n1:07:33<br \/>\nYes, hello?<br \/>\n1:07:34<br \/>\nYes, and I\u2019m a novice at this whole thing. So I just happen to find your, you, know, your link in the telegram chat. So thank you so much. I already learned a lot, but, so.<br \/>\n1:07:49<br \/>\nI have a lot of things, and I don\u2019t know if you have time for it, I\u2019ve been hearing people talking about crypto loans, you don\u2019t have to answer that right now.<br \/>\n1:07:59<br \/>\nAnd then the whole going from exchange to exchange, like Coinbase from a third party.<br \/>\n1:08:08<br \/>\nAnd then back to your, know your Fiat, or you know country currency bank account or savings account whenever we\u2019re using. And Then I\u2019m hearing people, because I\u2019m on this defined network.<br \/>\n1:08:23<br \/>\nI know people are calling it a scam, but I\u2019m trying all right, anyway. So they can earn rewards on this thing that I\u2019m doing.<br \/>\n1:08:32<br \/>\nAnd people are converting it back to, um, you STT tether. That seems to be the standard one of the standard stable coins, and then they\u2019re paying bills, OK?<br \/>\n1:08:45<br \/>\nSo my off on that or am I still on base so far?<br \/>\n1:08:49<br \/>\nWell you could do that. I\u2019m sure I mean you\u2019ll have a tax liability.<br \/>\n1:08:52<br \/>\nI mean, not from the coins themselves, You\u2019re just having a tax liability from the income to pay your bills, it doesn\u2019t matter that coins are involved.<br \/>\n1:08:59<br \/>\nYeah, OK, because, that was, that was my big headache. I\u2019m trying to still wrap my head around this.<br \/>\n1:09:05<br \/>\nKnow, people are using kryptos as they\u2019re earning through the staking are the nodes I\u2019m not even that far yet.<br \/>\n1:09:14<br \/>\nAnd then they\u2019re paying, you know, I\u2019m hearing all these wonderful stories houser paying bills and things, you know, but anyway, what about crypto 401 keys hold that thought and then these other you know these other apps?<br \/>\n1:09:30<br \/>\nThat are out there like Kashyap, I mean what are your initial thoughts?<br \/>\n1:09:34<br \/>\nAnd and I just got a couple more questions after that.<br \/>\n1:09:40<br \/>\nOn the loans you can either you can borrow money with the coins as collateral or you can borrow coins are land coins.<br \/>\n1:09:48<br \/>\nI don\u2019t know exactly what aspect of that but it\u2019s just like anything else Yeah, OK. So again. That\u2019s that\u2019s totally new to me. This is like its own I don\u2019t know what you want to call it foreign language. Teachers, but Yep. Yeah, and then some of these other sites, they were mentioning about educating and thank you for what you shared. two sites that were recommended.<br \/>\n1:10:15<br \/>\nThere was a term called what was it again?<br \/>\n1:10:20<br \/>\nI just had it written down here something about a certified Bitcoin, Where did I put it?<br \/>\n1:10:30<br \/>\nI\u2019m sorry, sir. Oh, Certified Bitcoin professional. Does somebody need to get certified or is that just something that marketing? Yeah, it\u2019s a marketing term.<br \/>\n1:10:41<br \/>\nI mean, who\u2019s going to certify for what?<br \/>\n1:10:43<br \/>\nI mean, I\u2019m not even I don\u2019t feel qualified to certify anybody for knowledge of kryptos.<br \/>\n1:10:48<br \/>\nBut you could do that, I mean, Anthony Antonopoulos, that guy would be great to certify people and something. I don\u2019t know, but. these guys have written books on. Kryptos would be suited to do that, any, anyone who has acquired an expertise could certify people.<br \/>\n1:11:05<br \/>\nBut what does that mean? I mean, I think it\u2019s just for marketing.<br \/>\n1:11:08<br \/>\nYeah, you know, If I were to start a business, maybe get like You are, Brian.<br \/>\n1:11:15<br \/>\nTry to help people understand and navigate? You know, Is it necessary to have that, you know? Behind my name? Is? showing? Experience or relevance that? that was my big question, OK?<br \/>\n1:11:28<br \/>\nWhen I interact with people I want to make sure that what I say is 100% accurate, right?<br \/>\n1:11:34<br \/>\nIf I don\u2019t know what I\u2019m not going to say or I\u2019ll tell him I don\u2019t know Force.<br \/>\n1:11:38<br \/>\nSo if I\u2019m going to say I\u2019m certified at something There has to have some. There\u2019s some meaning behind that. What does that mean?<br \/>\n1:11:44<br \/>\nAnd so if someone asked me, What does that mean? I\u2019d have to be able to tell him.<br \/>\n1:11:47<br \/>\nSo, if, if I\u2019m so, if someone has marketing that is certified at something, you can take them at face value.<br \/>\n1:11:55<br \/>\nBut it\u2019s so important to have integrity when you\u2019re dealing with people well, in anything, really. But especially in business.<br \/>\n1:12:01<br \/>\nSo you would assume that person knows that, it, just for your due diligence, you can ask them, where did you get your certification from, And then make your decision based on that.<br \/>\n1:12:10<br \/>\nBut just know that, I mean, any group of people, or individually, who\u2019s an expert or has an association, can have criteria for certification of anything, an issue, Right. But maybe that\u2019s a good thing.<br \/>\n1:12:23<br \/>\nBut just know where it\u2019s coming from. It doesn\u2019t mean they\u2019re magically.<br \/>\n1:12:25<br \/>\nAll of a sudden, you\u2019re, you know, your question, the question revolves around possibly partnering with Bitcoin, then, and you know, to show us, I guess to show that, know, is it worth And I\u2019m not saying it isn\u2019t worth, but is it worth pouring all this money?<br \/>\n1:12:45<br \/>\nInto additional or further education, You know, to just say, Hey, I\u2019ve been certified in this and this and this.<br \/>\n1:12:53<br \/>\nNo, I don\u2019t know, but anyway, um, I\u2019m almost done. And thank you everyone for your patience, but you mentioned well, I mean, do you do any particular recommendations as far as coins?<br \/>\n1:13:06<br \/>\nAnd the reason I\u2019m asking is, tomorrow, I\u2019ve been hearing all these wonderful stories about Duby in their program and their projects.<br \/>\n1:13:14<br \/>\nOK, so I was going to buy enough coins so I can at least start staking. I don\u2019t have enough to do one node.<br \/>\n1:13:23<br \/>\nYou know, that would be the ultimate goal.<br \/>\n1:13:25<br \/>\nBut, and with that, are there any specific, no laptop recommendations that you have? I mean, do we have to do a crypto only laptop or you don\u2019t have a dedicated laptop as far as recommendations? I\u2019m not qualified to do that. unlike most people, I\u2019m the consumer, mostly OK, but as far as computer technology use, what is suitable for your needs, I have a Linux desktop on an HP.<br \/>\n1:13:49<br \/>\nThat\u2019s my normal computer and then I have a dedicated Windows computer, HP.<br \/>\n1:13:55<br \/>\nI hate Windows, but it\u2019s just easy to use and it\u2019s compatible with the software and it\u2019s easy. So, but I don\u2019t have it on until I\u2019m moving my coins around.<br \/>\n1:14:02<br \/>\nSo, you don\u2019t We don\u2019t, I mean, what I\u2019m hearing, and this is really for everyone, not just me, I mean, is it safest to have just one laptop dedicated to just do your, you know, the crypto? I like it, that way, I like it that way, and I also would like to keep my credentials in a secure location and backed up.<br \/>\n1:14:22<br \/>\nSo, just keep those things in mind.<br \/>\n1:14:24<br \/>\nIs there like a recommended?<br \/>\n1:14:29<br \/>\nWhat am I thinking of, you know, not to get hacked as, you know, software, not the mcaffee kind of stuff? Or do you use anything in particular?<br \/>\n1:14:38<br \/>\nI\u2019ve produced a video on this, I don\u2019t want to go into too much on that, ignore it. But everybody has his own style.<br \/>\n1:14:46<br \/>\nAnd, OK, just check those out. Yeah, just ask that question more people like take up my videos, I\u2019ll tell you. Right. Into someone. Alright. And that was free bird, I think.<br \/>\n1:14:59<br \/>\nHey, John. Hey.<br \/>\n1:15:01<br \/>\nHey, thank you. I\u2019m a big fan of Costco and I stayed up till the wee hours posting your video on every single cost. Oh, all right. So, anyway, I\u2019m in Canada and.<br \/>\n1:15:20<br \/>\nfrustrating I just trying to find a good at Caltech, I don\u2019t trust any of them. I do have one up here that is Pro freedom.<br \/>\n1:15:28<br \/>\nI never do, I never do that to make a list of professionals that to refer to, but what I would suggest is: I have a call it a way to qualify them.<br \/>\n1:15:36<br \/>\nSo, a CPA is going to be collecting all your information for Ajax, yeah.<br \/>\n1:15:43<br \/>\nYeah, they are, so, so. yeah, you have no privacy there.<br \/>\n1:15:45<br \/>\nUm, there are a couple of ways to look at this. I go to a bookkeeper, so that\u2019s what I do.<br \/>\n1:15:50<br \/>\nI am a privacy fiend. I want privacy.<br \/>\n1:15:54<br \/>\nI look at privacy as money, the more I have, the better.<br \/>\n1:15:58<br \/>\nSo, if I don\u2019t want accounting, I will literally go on Craigslist and get a bookkeeper.<br \/>\n1:16:03<br \/>\nWell, you know, I just find somebody who will do, for 40 bucks, and I\u2019m not trying to get a better price.<br \/>\n1:16:07<br \/>\nI\u2019m just, I just want my privacy, and the bookkeeper doesn\u2019t care who I am, and if he does district courtesy, I will, I\u2019ll make up a name and give it to him. I\u2019m Bill.<br \/>\n1:16:18<br \/>\nRight, and how much do Oh, yeah.<br \/>\n1:16:20<br \/>\nSo, that\u2019s what I do. You\u2019ll get great book bookkeeping. That\u2019s all you need. Really.<br \/>\n1:16:24<br \/>\nIf you need a tax return prepared, there are people that will do it, they\u2019re bookkeepers.<br \/>\n1:16:29<br \/>\nThat\u2019s what I\u2019d suggest. If you can also check for, there\u2019s Foreign Services, you can go to, on the internet, you can go or use fiber dot com fiber dot com as people in other countries. It will do your accounting for you.<br \/>\n1:16:41<br \/>\nOK, your local CPA is going to be the worst.<br \/>\n1:16:45<br \/>\nYeah. I would just do it that way.<br \/>\n1:16:47<br \/>\nI would go online and look for bookkeepers, or people in other jurisdictions that will do the work, and they do really good work.<br \/>\n1:16:56<br \/>\nDoes that help?<br \/>\n1:16:57<br \/>\nYeah, I just paint, making a note of that.<br \/>\n1:17:00<br \/>\nOK, also.<br \/>\n1:17:06<br \/>\nI\u2019m forcing me to get the job at work. So I\u2019m getting a new jobs are trying to figure out.<br \/>\n1:17:13<br \/>\nI\u2019m on back Martin\u2019s.<br \/>\n1:17:16<br \/>\nNo. Name.<br \/>\n1:17:18<br \/>\nSanctuary is the log guys Send a message immediately, if you can please on Telegram.<br \/>\n1:17:25<br \/>\nSure. Idea at JJ Singleton. Yeah.<br \/>\n1:17:29<br \/>\nYeah, yeah.<br \/>\n1:17:30<br \/>\nSo I\u2019m just learning how to do business online and someone told me to setup Wyoming Trust or Wyoming preparation and all that stuff just to keep private do, you know about that for a while. It\u2019s good, Wyoming\u2019s. good. You can use Wyoming Corporation. And you could even domesticated there in Canada.<br \/>\n1:17:52<br \/>\nI like those. I like for Canadians.<br \/>\n1:17:53<br \/>\nI set up LLCs here in the states and then they go to Killam Brown or whatever they\u2019re gonna do and then domesticate so they can locally take some money But they can still move their money in a way that doesn\u2019t create a tax liability most of it.<br \/>\n1:18:06<br \/>\nSo, yeah. Yeah. Yeah, and then they sign it.<br \/>\n1:18:10<br \/>\nAnd so you\u2019re not allowed to talk about the corporation setup with who, who does an NDA.<br \/>\n1:18:15<br \/>\nThe Agent B, the company that sets you up for marketing purposes. That\u2019s totally for marketing purposes as there\u2019s no benefit to that.<br \/>\n1:18:29<br \/>\nYeah, OK, no, no, There\u2019s no privacy recommended By the way I like my client\u2019s name to appear in the articles on the public record because it allows me the chance to show the world that my client is not the owner.<br \/>\n1:18:45<br \/>\nSo I get total privacy that way.<br \/>\n1:18:49<br \/>\nBut if I don\u2019t have that, then I might run into a situation where if a creditor doesn\u2019t know that and he\u2019s gonna assume my client well, then he has to deal with that and there\u2019s your cost of litigation.<br \/>\n1:19:02<br \/>\nI avoid costs of litigation by disclosing my client\u2019s interest in his company on public records. So I want the articles to appear with his name on there.<br \/>\n1:19:11<br \/>\nI want everyone to say that he is not the owner.<br \/>\n1:19:15<br \/>\nThat way the creditor is not going to try to bring a claim.<br \/>\n1:19:20<br \/>\nAnd my client doesn\u2019t have to defend it because that costs money.<br \/>\n1:19:24<br \/>\nGotcha. Wyoming? I don\u2019t think Wyoming publishes the name of the owner, which is fine, I mean, you can do or not.<br \/>\n1:19:30<br \/>\nYou have an option, You can publish it yourself.<br \/>\n1:19:32<br \/>\nLike, if my client is in trouble, and he has a company that\u2019s not publishing the name of the owners, I will actually supplement the annual report with his name, showing no, that he\u2019s not the owner, to avoid the drama.<br \/>\n1:19:47<br \/>\nAnd to sell the company with an NDA is a very clever marketing tactic, it\u2019s of no use at all.<br \/>\n1:19:56<br \/>\nNon disclosure agreement, it\u2019s kind of funny, but just say no.<br \/>\n1:20:00<br \/>\nOK.<br \/>\n1:20:02<br \/>\nIt is most of the stuff that you teach applicable in Canada.<br \/>\n1:20:05<br \/>\nOr yeah, the strategies are, will work in Canada. There is some slight modification because of your, it\u2019s not because of your tax laws, because of the way things are done over there. I guess I should say.<br \/>\n1:20:20<br \/>\nIt\u2019s hard for me to explain on this call, but, yeah, you can. Here\u2019s why it works.<br \/>\n1:20:24<br \/>\nOK, because you have property rights in Canada. We have property rights here in the States, we have property rights in the UK.<br \/>\n1:20:30<br \/>\nWell, it gives us a lot of freedom if you know what you\u2019re doing. So, here\u2019s an example of how I look at it if I have a tax liability because I just have a gain from something.<br \/>\n1:20:39<br \/>\nI can\u2019t avoid it because I\u2019ve have filed returns before so that governments can say, Hey, we got to report that you had this money and so we want our cut.<br \/>\n1:20:47<br \/>\nI\u2019m not going to avoid that.<br \/>\n1:20:48<br \/>\nBut, if myself and a friend of mine who have never done anything together, invest in something and get a return on it, while we still own that collective return, together, we don\u2019t have a tax liability. And as long as we don\u2019t take a portion of that out, we\u2019re in good shape.<br \/>\n1:21:06<br \/>\nWe\u2019re not gonna have a tax liability because the two of us are one owner, so I have mixed my property rights in with somebody else who has a different tax situation, it\u2019s a different person, and therefore, I don\u2019t have the liability until we take our share out. Now, that exact scenario, I gave to an account in Canada, and he laughed, and he said, Man.<br \/>\n1:21:31<br \/>\nYou\u2019re right. Yeah.<br \/>\n1:21:33<br \/>\nYou can pretty much do that in any jurisdiction because you have property rights. So how does that look in Canada, if I have a partnership with that relationship? That will work.<br \/>\n1:21:42<br \/>\nIf I have, well, they\u2019re not going to officially recognize an LLC, but you can register when they\u2019re so that the partnership will work, or if you look on the Internet for holding companies in Canada, there is going to be some filing the tax return filing mentioned in the description. Because all of these are by attorneys.<br \/>\n1:22:00<br \/>\nBut if you\u2019re careful and read through it, you\u2019ll see that as long as it doesn\u2019t pay dividends, there\u2019s no tax liability.<br \/>\n1:22:06<br \/>\nAnd I believe also, that if you form a holding company in Canada, which could be an LLC that you domesticated could be a local company, whatever. As long as you treated a certain way, it will be accepted that way. Meaning, as long as I don\u2019t follow return for it, it\u2019s going to be fine. It\u2019ll be treated like a pass through, like we have here. I believe that, that would be the case.<br \/>\n1:22:24<br \/>\nSo, there\u2019s a lot that you can do in other countries, just like we\u2019re doing here, but, if you want to do something specific, let me know, but generally you can get an LLC here at Wyoming is great, then, if you want opening an account for it in Canada, in your province, you just need a, um, it\u2019s called an extra provincial registration form. That\u2019s all.<br \/>\n1:22:43<br \/>\nOK.<br \/>\n1:22:45<br \/>\nWell, I get taxed twice or I\u2019m just not supposed to pilot. I don\u2019t think you will. I don\u2019t know.<br \/>\n1:22:52<br \/>\nI\u2019d have to check on that, I\u2019d have to check, but I can tell you right now, you\u2019ll have no taxes in the U S ironically.<br \/>\n1:22:58<br \/>\nyeah. None at all?<br \/>\n1:23:01<br \/>\nOK, yeah, There, you\u2019ll know your government might. But that may be avoidable. I don\u2019t know. I\u2019d have to look at more detail.<br \/>\n1:23:10<br \/>\nI\u2019m just, I\u2019m not sure what to do if that\u2019s just want to get it all set up. I\u2019m trying to learn as much as possible, and I\u2019m talking to accountants. And now, I\u2019m thinking, differently, that\u2019s not going to help you. Yeah. Those guys are not going to help you. You just kind of have to think that, that\u2019s how I had to do in the nineties. I didn\u2019t know. I didn\u2019t know, and so I was like, Well, heck, if I invest my kind of his exclusive rights to the property, the iris cannot take it. That was my first realization because I read it right in the tax code.<br \/>\n1:23:35<br \/>\nSo I said, Well, how the heck do I do that?<br \/>\n1:23:36<br \/>\nWell, if my client and his brother owns the thing, that normally the IRS would take the tax person here, um, then it\u2019s no longer my client\u2019s property and the IRS can\u2019t take it.<br \/>\n1:23:52<br \/>\nSignature account, yeah.<br \/>\n1:23:54<br \/>\nIt\u2019s like two factor authentication.<br \/>\n1:23:56<br \/>\nSame thing. Same idea. You can do that anywhere.<br \/>\n1:24:00<br \/>\nSo if I had a property with my Mom.<br \/>\n1:24:04<br \/>\nExactly.<br \/>\n1:24:05<br \/>\nSo be careful, though, on how it\u2019s titled because there\u2019s certain conditions like joint tenants with right of survivorship.<br \/>\n1:24:12<br \/>\nSo you have to be careful of how it\u2019s designated and I\u2019d have to see the actual transaction to show you. And a lot of times the transaction is set forth in the contract.<br \/>\n1:24:20<br \/>\nSo, we have to make sure that, um, there is an un tabulated interest, or a person, a member of that, or two party organization, doesn\u2019t have a right, without the consent of the other, you have to bind them together, so that not one party has a right until something happens.<br \/>\n1:24:43<br \/>\nAnd then, you can do that anywhere.<br \/>\n1:24:46<br \/>\nYou could, You could write that up into a local company, Stock joint stock company, a GMBH, a partnership, an LLC, in that way, OK?<br \/>\n1:24:59<br \/>\nAll right, I\u2019m just gonna have to watch videos and wrap my head around, all that stuff. That would help. Yeah, yeah. Sure, thing alright, And then Jacob Jacob.<br \/>\n1:25:13<br \/>\nYeah.<br \/>\n1:25:15<br \/>\nAwesome, John. Um, you know, I heard of the insurance contract of the first time from you, and I\u2019m just wondering I like the idea of holding it outside of the Federal Reserve banking system.<br \/>\n1:25:28<br \/>\nSeems really smart, especially with the dodd frank Act and how you\u2019re like, no, you\u2019re the you\u2019re the least prioritize creditor. Basically.<br \/>\n1:25:39<br \/>\nYes.<br \/>\n1:25:40<br \/>\nSo, I guess I\u2019m just wondering, now, it\u2019s like, you just said, you have to pay a lot of commissions, but is there a way to do the in infinite banking concept, and not have to pay like high commissions?<br \/>\n1:25:51<br \/>\nBecause I always say it\u2019s negotiable, but I can suggest some other things besides that, if that\u2019s all you want to do with it.<br \/>\n1:25:57<br \/>\nOr mostly, I would suggest putting your money in something that\u2019s not in the banking system, but it\u2019s pretty pretty liquid.<br \/>\n1:26:04<br \/>\nThat\u2019s probably a new concept for a lot of you, I mean, gold is not a new concept, but loose diamonds are a new concept.<br \/>\n1:26:12<br \/>\nAlso, yeah, also contracts for finished products.<br \/>\n1:26:17<br \/>\nI can explain that too.<br \/>\n1:26:18<br \/>\nBut loose Diamond\u2019s, I have a strategy of buying loose diamonds. I can republish it.<br \/>\n1:26:24<br \/>\nWe could talk about that. Even, OK, yeah, loose dimas are very liquid, loose diamonds, or money around the world. We don\u2019t, we don\u2019t care about that too much, maybe in the movies.<br \/>\n1:26:35<br \/>\nSo you can do, like, kohala practices, or something like that.<br \/>\n1:26:39<br \/>\nYou could, You know?<br \/>\n1:26:42<br \/>\nIt transact outside of that control system, with the diamonds, by just going local, and and say, you know, buying an apartment with them or something like that.<br \/>\n1:26:52<br \/>\nYou could store money in loose diamonds and sell them very quickly for a good price.<br \/>\n1:26:57<br \/>\nNot the effort, but Yeah.<br \/>\n1:27:00<br \/>\nYeah, OK, yeah, because the infinite banking concept, like, that\u2019s, it, sounds good, and you make a certain percentage, and it\u2019s interesting, I just, I just didn\u2019t know about all the commissions and figured that Out yet. Yeah, just run the numbers. But here\u2019s another concept.<br \/>\n1:27:16<br \/>\nLet\u2019s say, I wanted to protect $2 million.<br \/>\n1:27:20<br \/>\nYeah.<br \/>\n1:27:20<br \/>\nI might consider making a contract with a company that manufactures copper wire and tubing. Now, I have a reason for copper, I\u2019m just going to tell you, but let\u2019s just say, I chose that.<br \/>\n1:27:30<br \/>\nAnd so, my contract is this.<br \/>\n1:27:32<br \/>\nYou guys are selling copper, wire and tubing, Finished products, left hand, you already have customers. What I would like to do is be the first customer.<br \/>\n1:27:43<br \/>\nI want to, I want the right to buy that product before you sell it to your existing customer and I want a discount, and the reason why I want that, it\u2019s for whatever reason, but the exchange here is that you have a guaranteed customer under a contract.<br \/>\n1:27:57<br \/>\nI am going to buy it no matter what, and, if I don\u2019t want to buy, which, I don\u2019t want to buy it for, like the next 2 or 3 or 5 years, you\u2019re going to keep selling it to your customer.<br \/>\n1:28:08<br \/>\nAnd, if I ever want to liquidate that contract, it is priced in copper, finished copper.<br \/>\n1:28:14<br \/>\nThat already has a buyer.<br \/>\n1:28:17<br \/>\nSo I\u2019m highly liquid, and I\u2019m not in the dollar, although I could be in the dollar, but I could do all kinds of things with that copper.<br \/>\n1:28:24<br \/>\nSo that\u2019s just another way to think about it. I mean, you could probably apply that concept and some other methods.<br \/>\n1:28:31<br \/>\nSo that\u2019s interesting. Yeah. So so you just have a, you have, like, like a futures contract, to buy a certain tonnage of, let\u2019s say, $2 million of finished copper product.<br \/>\n1:28:44<br \/>\nYeah, right. That\u2019s kinda what you\u2019re saying. And then, and then you\u2019re saying that, you don\u2019t even have to have a market, because you can just pass that along to their market and to their customer, you have, you have the right to buy it. Now. Yeah, Or sell it?<br \/>\n1:29:00<br \/>\nLike, you have the right to sell the copper.<br \/>\n1:29:02<br \/>\nSo you could sell out of the contract and have whatever you want.<br \/>\n1:29:07<br \/>\nYou could probably tend to copper, you have copper base metal.<br \/>\n1:29:12<br \/>\nAnd everybody. Yeah.<br \/>\n1:29:13<br \/>\nThen you have a bunch of copper has. So you just have to think about.<br \/>\n1:29:17<br \/>\ncopper copper you can\u2019t really store, like gold. There\u2019s no reasonable way to do that.<br \/>\n1:29:23<br \/>\nSo what you want to do is, without getting options or something, or getting into commodities, is, look at the finished product and have the right to sell the finished product for a thing you want or the right to buy it, OK. That\u2019s all, OK.<br \/>\n1:29:36<br \/>\nInsurance, the, But loose diamonds are an easy one. You can go up the supply chain to make your deal. And the counter benefit is that.<br \/>\n1:29:45<br \/>\nOn that one is the, the diamond broker, and there\u2019s usually 4 or 5 in the supply chain. So you wanna go up a little bit, but you might want to get into a situation where you\u2019re working with someone to buy from the cutter.<br \/>\n1:29:57<br \/>\nThe person who\u2019s closest to the cutter.<br \/>\n1:30:00<br \/>\nAnd, um, the benefit for him to go in with you is that he may be able to get a discount with a volume discount because you can come in with some cash, right? And so, it\u2019s, it\u2019s at the cutter. So, you\u2019re, you\u2019re kind of getting it right before it gets its finished product.<br \/>\n1:30:18<br \/>\nUp the cutter is the guy that makes it valuable.<br \/>\n1:30:21<br \/>\nAnd that\u2019s right, before it\u2019s before it goes to that first guy in the supply chain, the broker.<br \/>\n1:30:26<br \/>\nYeah. So, if that\u2019s the relationship, it might take a while to set that up, you might have to buy at retail first.<br \/>\n1:30:32<br \/>\nSo if that appeals to, you, start checking it out, and you might even get to a point where you can get just a diamond seller in your neighborhood who is in with all the brokers and he may be able to set that deal up for you?<br \/>\n1:30:42<br \/>\nHe has a piece of it, though, so yeah, just something to think about.<br \/>\n1:30:45<br \/>\nBut they\u2019re pretty liquid, I mean, heck, you could have, you can have, you could put $20 million in diamonds and store it in a coffee cup.<br \/>\n1:30:53<br \/>\nYeah.<br \/>\n1:30:55<br \/>\nAnd then, is it easy to hide it? That\u2019s great. There you go.<br \/>\n1:31:00<br \/>\nIt\u2019s waterproof, it doesn\u2019t melt, it doesn\u2019t burn, it\u2019s the hardest substance known to man, I mean, I mean it\u2019s cool, so you can\u2019t bust it can\u2019t break it.<br \/>\n1:31:09<br \/>\nProbably easy to travel with as well. It\u2019s very easy to travel, as I\u2019ve said, like, put it in a coffee cup, to let you bring that on the plane, or whatever you put in your pocket, Put it in your pillowcase, whatever. I mean, you can do all kinds of baking a cake, whatever.<br \/>\n1:31:23<br \/>\nSo I got it, and that\u2019s gonna, that\u2019s going to have the benefit over having all the commissions that come with the Infiniti banking concept. Yeah, exactly.<br \/>\n1:31:34<br \/>\nAway to parts of money, right?<br \/>\n1:31:36<br \/>\nYeah. Because that certainly seems to be a problem.<br \/>\n1:31:43<br \/>\nNo transacting in fiat currency.<br \/>\n1:31:45<br \/>\nIf they just lock it down like in Greece and be like, OK, well, you can take $300 out of data, like Yeah, that\u2019s great. Yeah, we should know ahead of time. There\u2019s no reason why any of us that are in this. I should that should have that experience.<br \/>\n1:31:56<br \/>\nWe\u2019re smart enough also A Vault service that is easily interchangeable with a coin.<br \/>\n1:32:04<br \/>\nSo, for example, Boolean Star buoyancy has a bolt service and you can go from Bitcoin. It\u2019s just a high premium, I don\u2019t like it.<br \/>\n1:32:11<br \/>\nBut there, if you have to have it also uphold is another exchange volts.<br \/>\n1:32:17<br \/>\nAnother one to look at is malka, admit, MA, LCA two words MIT I believe it\u2019s in India And then the other one is via Matt the IAEA and then MIT via Mat and Malka admit, are transporting services there, like Loomis or Wells Fargo.<br \/>\n1:32:39<br \/>\nAre they transferred? But they also have storage facilities and they\u2019re outside of the, this is outside of central banking systems outside. That\u2019s another to answer your question, sorry, has taken so long, but yeah. So you have a long list of things you can do to stay outside the banking system and stay secure.<br \/>\n1:32:55<br \/>\nThat\u2019s awesome.<br \/>\n1:32:56<br \/>\nThere\u2019s, there\u2019s a cool bank up in North Dakota to, it\u2019s a, it\u2019s a, the only Chartered Bank. I believe it\u2019s North Dakota.<br \/>\n1:33:04<br \/>\nYeah, it is. It\u2019s North Dakota, it\u2019s the, It\u2019s the state public thing.<br \/>\n1:33:08<br \/>\nThere you go, OK, that bank deals with silver and gold. Oh, wow, it\u2019s really cool. Yeah, in fact, they\u2019ll pay you a nice return on your deposits in Silver.<br \/>\n1:33:19<br \/>\nAnd it is the only bank chartered organization that deals in precious metals.<br \/>\n1:33:24<br \/>\nIn fact, I don\u2019t even think it deals in dollars.<br \/>\n1:33:28<br \/>\nThat may be another place.<br \/>\n1:33:32<br \/>\nThanks for the effort. That\u2019s a good question. All right.<br \/>\n1:33:36<br \/>\nAll right, and let\u2019s go to James and then Paul.<br \/>\n1:33:39<br \/>\nHey, John. I appreciate all you do on these videos. When. You\u2019re in the process of getting my LLC in Pennsylvania.<br \/>\n1:33:51<br \/>\nGot a couple of quick questions. I did some work for a company back in June, and it\u2019s been an open invoice.<br \/>\n1:33:58<br \/>\nAnd, yep, I wanted to make it out to my new LLC, and so I got to submit a new W nine.<br \/>\n1:34:07<br \/>\nAnd so am I going to get an EIN number with the LLC, or do I go to apply for one or just apply for one? It takes like two minutes. We will give you the link and everything just like before.<br \/>\n1:34:19<br \/>\nYeah, and as far as the name, I thought I heard earlier say, I don\u2019t put my name on it. But but the BMA on it or the LLC\u2019s name on, just put the LLC name on the benign form.<br \/>\n1:34:33<br \/>\nChoose the box that it\u2019s a disregarded entity and end to end type the letter P at the end of that sentence.<br \/>\n1:34:39<br \/>\nLet\u2019s take this on line three in the box and then you put the address and all that stuff, and then sign it as whatever your title is authorized signatory Vice President.<br \/>\n1:34:49<br \/>\nOK, put if E I N only do not put your SSN on the W nine and make sure that your contract is not just in your name, I assume you have to have a written contract with them.<br \/>\n1:35:02<br \/>\nI get, Yes, So, just to assign the contract to your LLC, and if they ask you to say, My account said, I had to do it that way, and then given the W nine, they\u2019ll probably just do it anyways without, you know, telling them You\u2019re signing it.<br \/>\n1:35:18<br \/>\nYeah. I don\u2019t think they\u2019re going to have all, They want us that. There\u2019ll be a nine, and that\u2019s how they can do that.<br \/>\n1:35:25<br \/>\nOK, And then, another question is, if I sign up for, like, \u2026<br \/>\n1:35:30<br \/>\nto set up appointments and use them with the credit card system, I just set it up as the LLC and make credit card number, it goes right into the bank account of the LLC.<br \/>\n1:35:44<br \/>\nWhat are you doing a merchant account for something?<br \/>\n1:35:46<br \/>\nYeah, like, I\u2019m opening up Kalen Delaney.<br \/>\n1:35:49<br \/>\nIt\u2019s not booking site for appointments, OK, OK, and they take your payments through like one of those, Yeah, right. So sometimes you deal with those like merchant accounts or the services. Make sure your LLC is the account holder even if you\u2019re the guarantor, they\u2019ll make you sign a personal guarantee with your name and SSN and all that stuff. That\u2019s OK as long as even on PayPal. That\u2019s OK as long as the account holder as the LLC.<br \/>\n1:36:18<br \/>\nBecause that\u2019s where the 1099 would be set.<br \/>\n1:36:23<br \/>\nAll right.<br \/>\n1:36:24<br \/>\nAnd So then any money I make goes into the LLC as long as I don\u2019t pull any out for me. Nothing gets, right? You got it. You got rolled over, yep. Mmm hmm, I love it.<br \/>\n1:36:38<br \/>\nYeah, this is not some little gimmick I created as you guys know I\u2019m just saying this, so anybody who here\u2019s this later I\u2019ve done since the nineties. I thought of it to solve a problem is solved a lot of problems.<br \/>\n1:36:49<br \/>\nI\u2019ve done thousands of these just like this, I\u2019ve been taking notes on all your videos. I\u2019m just trying to clear in my head. All right, thank you, sir.<br \/>\n1:36:58<br \/>\nAlright, so, I think, Thanks for the questions. As we\u2019re good? Alright, Paul, What\u2019s going on?<br \/>\n1:37:10<br \/>\nDid you get to give your mute on or off? Check your mute?<br \/>\n1:37:21<br \/>\nOK, Oh, let\u2019s see here.<br \/>\n1:37:24<br \/>\nOh, let me see, I\u2019m gonna ask you to unmute. Can you hear me now? Yes, I can. Yes. Can you hear me now?<br \/>\n1:37:30<br \/>\nYeah, OK, OK, so, I\u2019m going to recap something that you and I have spoken about in the past, just to give you kind of an update on where I\u2019m at with it and, and the question that I have. So, I\u2019ve got the irrevocable trust, a house in my grandkids name. I have a contract for sale on this property, and I have a contract to purchase.<br \/>\n1:37:53<br \/>\nOther property, I\u2019m going to purchase the property through the irrevocable trust. And last time we spoke. When I applied for the EIN number, they said, I need to go back and fill out 10, 41 forms, and we agreed that I don\u2019t need to do that. Right? And then there was another, there was something else.<br \/>\n1:38:09<br \/>\nUm, oh, we talked about, is there any capital gains on this, and we agreed that there wasn\u2019t.<br \/>\n1:38:15<br \/>\nOK, so, but now the question is, I got hit with this you might have to fill out a 1031 form Don\u2019t do any that\u2019s changed. Now, that\u2019s what you\u2019re gonna run into all this stuff with attorneys. There\u2019s a fill up this, don\u2019t do that. The money\u2019s gonna sit there and then you gotta go buy your next property.<br \/>\n1:38:32<br \/>\nOK, OK, because I have to close, and he\u2019s coming up in two weeks, one on this property I want on that property.<br \/>\n1:38:38<br \/>\nI just want to make sure I understand all all the liabilities here so that I don\u2019t get surprised by, OK, this is an investment.<br \/>\n1:38:47<br \/>\nIt is a primary residence that under the trust, under the irrevocable trust. My: my wife and I, until we pass, have access, and I\u2019m the trustee for the irrevocable trust. OK, so I\u2019m just moving the trust property from one day addressed to the next. Yeah, that\u2019s great. Do it. Do it that way. You\u2019ve got the idea? Don\u2019t do 10, 30 ones, and all. those forms. You don\u2019t need it.<br \/>\n1:39:11<br \/>\nYeah, yeah, OK. All right, thank you. Appreciate your patience.<br \/>\n1:39:14<br \/>\nAll right, all right, Guys, well, I am gonna take some time off. Appreciate all you attending. I hope it helps.<br \/>\n1:39:24<br \/>\nYou all have good evening and enjoy your weekend.<br \/>\n1:39:26<br \/>\nBye, bye, now.<\/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-107aedc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"107aedc\" 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-92816c2\" data-id=\"92816c2\" 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-b049c00 elementor-widget elementor-widget-spacer\" data-id=\"b049c00\" 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-8f70182 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8f70182\" 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-b6beb80\" data-id=\"b6beb80\" 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-2d919be elementor-widget elementor-widget-text-editor\" data-id=\"2d919be\" 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 IRS Revenue Ruling 2019-24 and its implications for virtual currency.<br \/>2. The ruling from 2019 follows a previous one from 2014 that defined virtual currency as property.<br \/>3. The revenue ruling is not a law but serves as guidance and holds weight in tax court disputes.<br \/>4. Section 61 of the Internal Revenue Code defines gross income, and the regulation 26 CFR, 1.61-1 provides detailed information on gross income.<br \/>5. The ruling addresses the concept of a hard fork in distributed ledger technology and the creation of new cryptocurrency.<br \/>6. There is a mention of airdrops and their treatment in terms of tax liability.<br \/>7. The discussion touches on the catch-all language regarding gains or profits derived from any source of income.<br \/>8. References are made to contracts defined in various sections of the tax code, such as 12 34B and 12 86.<br \/>9. The importance of understanding the distinction between trust documents and LLCs is mentioned.<br \/>10. The conversation covers strategies to stay outside the banking system and ensure financial security.<\/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-d71dac6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d71dac6\" 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-268c3c1\" data-id=\"268c3c1\" 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>U45 &#8211; Discussion on IRS Revenue Ruling 2019-24 as it pertains to virtual currency<\/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\/18233"}],"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=18233"}],"version-history":[{"count":7,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/18233\/revisions"}],"predecessor-version":[{"id":25426,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/18233\/revisions\/25426"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=18233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=18233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=18233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}