{"id":18586,"date":"2021-09-10T12:26:11","date_gmt":"2021-09-10T16:26:11","guid":{"rendered":"http:\/\/privacyfight.io\/?p=18586"},"modified":"2023-06-26T05:38:53","modified_gmt":"2023-06-26T09:38:53","slug":"u47-sept-2-2021-thur-eve-john-jay","status":"publish","type":"post","link":"https:\/\/privacyfight.io\/u47-sept-2-2021-thur-eve-john-jay\/","title":{"rendered":"U47 &#8211; Sept 2, 2021 Thursday Evening with John Jay"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"18586\" class=\"elementor elementor-18586\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ce24094 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ce24094\" 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-dfe3622\" data-id=\"dfe3622\" 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-bd780f5 elementor-widget elementor-widget-text-editor\" data-id=\"bd780f5\" 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\/725269748\/?\" 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            U47 &#8211; Sept 2, Thur Eve John Jay\r\n0:03\r\nHello, everyone. This is John. Jay, September second.\r\n0:06\r\nThanks for joining, OK. I\u2019m sorry about that. Let\u2019s see.\r\n0:11\r\nYeah, if you can\u2019t join, I don\u2019t know. Someone was telling me that. She cannot click the link to join, so please just use the ph&#8230;        <\/div>\r\n        <div class=\"vidseo_collapse_content\" style=\"\">\r\n            <p>U47 &#8211; Sept 2, Thur Eve John Jay<br \/>\n0:03<br \/>\nHello, everyone. This is John. Jay, September second.<br \/>\n0:06<br \/>\nThanks for joining, OK. I\u2019m sorry about that. Let\u2019s see.<br \/>\n0:11<br \/>\nYeah, if you can\u2019t join, I don\u2019t know. Someone was telling me that. She cannot click the link to join, so please just use the phone number. I\u2019m sorry about that.<br \/>\n0:19<br \/>\nWe have a storm here, I\u2019m in Florida, so sometimes we get disconnected.<br \/>\n0:23<br \/>\nIn situations like that. So if that happens, I\u2019m going to have to call in or something. Or we might have just call back in. So, sorry about that.<br \/>\n0:28<br \/>\nBut, anyways, Um, today, I just wanted, I had so many questions about, you know, it\u2019s not enough to do an interview. And introduce, do a one-on-one call with you guys, and then introduce these new concepts, and then expect you to pick it up right away. I totally get that. So I always make no plans to expect to, within another month or so or a week even, to talk with you again about a new LLC that you have set up and sometimes it takes me awhile to get back to you. I\u2019m sorry about that. And then sometimes it\u2019s a real simple question.<br \/>\n0:56<br \/>\nIt might be for me, I know it may not be for you, but I understand that you\u2019re not sure which way to go sometimes, so I just want to cover some of those, we\u2019ll find points, Maybe the EIN application process, maybe I should do a video on it, but I haven\u2019t, I\u2019ve put that off because aye.<br \/>\n1:14<br \/>\nActually, the form changes, and it doesn\u2019t change that much.<br \/>\n1:16<br \/>\nBut there\u2019s so many different ways to get the answer to the bottom line is I\u2019m trying to get you through the application process to get the EIN so that you have to answer the lease questions, and that you get the EIN approval letter so that the name of your LLC appears on the approval letter with the LLC designation after it.<br \/>\n1:33<br \/>\nAfter that, I don\u2019t care how you got it, I don\u2019t care if you say it\u2019s a single member multi-member whatever, as long as it\u2019s an LLC with an EIN. You\u2019re good to go.<br \/>\n1:43<br \/>\nAll right. I\u2019m sorry about that. I\u2019m going to have to get you the recording.<br \/>\n1:48<br \/>\nGosh, I\u2019m sorry.<br \/>\n1:54<br \/>\nThat\u2019s the only person.<br \/>\n1:55<br \/>\nI\u2019ll have one person that looks like one person who says she can\u2019t join, so I will try to make it up to you in any case. So I\u2019ll start with the basic things. Also, the W nine, I want to explain. So let me just start with a, I\u2019ll just start listing these topics.<br \/>\n2:09<br \/>\nAnd then you guys can ask me some questions, and then we\u2019ll, we\u2019ll maybe get into some allocation ideas. That\u2019s gonna be an ongoing project.<br \/>\n2:17<br \/>\nI mean, really, you can see, we have a membership area. So there\u2019s a couple of different businesses going on. We have different, let\u2019s say, cost centers and work. We\u2019re trying to merge them right now, but um, I get I set this up through Joint Venturing. So it looks a little broken apart.<br \/>\n2:32<br \/>\nBut we have privacy fight dot IO, which is a video membership, and then and this is long term, I mean, this answers the question of why This all sounds great, John, but what happens if your disappear something, I can\u2019t get you Well, I hope that the most important information that you guys care about is going to be in those videos and repeated.<br \/>\n2:50<br \/>\nIt\u2019s my idea there.<br \/>\n2:51<br \/>\nAlso, now, with this new helpdesk, which I\u2019ll explain momentarily, you should have a more a quick way to get the information. So, those of you that just sign up and get a new LLC, you have immediate access to that and I believe we\u2019re gonna set it up for like 90 days.<br \/>\n3:05<br \/>\nThat should be enough to get you everything you need and, and, no, There\u2019s little pieces of information need along the way.<br \/>\n3:12<br \/>\nWhat I did is, um, I set up the helpdesk At the bottom right corner. I think you\u2019ll find it if you go to \u2026 dot com.<br \/>\n3:20<br \/>\nIt\u2019s a little blue thing down there. Just says Help. The question mark.<br \/>\n3:24<br \/>\nI think it floats around on the website too, but it does not located somewhere on the page.<br \/>\n3:29<br \/>\nIt\u2019s like, in your frame, do you want to see it?<br \/>\n3:32<br \/>\nIf you click on it, now, please go easy, because this is new.<br \/>\n3:35<br \/>\nLiterally, I just got access to this a few hours ago.<br \/>\n3:40<br \/>\nAll right.<br \/>\n3:40<br \/>\nAnd so, we still have to make some minor changes to it, but this will allow you to submit a ticket. Now, we will have a way where you can call somebody.<br \/>\n3:49<br \/>\nBecause I know. I\u2019m the same way. I don\u2019t like to just send tickets to people, I like to pick up the phone and call some people sometimes. So, we do intend to have that.<br \/>\n3:57<br \/>\nIt\u2019s just a matter of me staffing that, and I want to go slow and make sure I have people that I can rely on.<br \/>\n4:02<br \/>\nAnd people that are, you know, they have to be, I want them to be able to answer your question if they know the answer and not the \u2026, If they don\u2019t know the answer, OK? We\u2019re not trying to do that, so I want to make sure we get those people there. But in case, so, \u2026<br \/>\n4:17<br \/>\ndot com, there\u2019s a helpdesk there, try that out, ask a question, and see how that works. It will be kind of a slow response, that\u2019s at the start. But it\u2019ll be a nice way to centralize those types of questions. And then also, there\u2019s going to be materials and articles and FAQ, let\u2019s say, lookup tables, and maybe some video content over there that will help you guys along.<br \/>\n4:36<br \/>\nAnd this is really probably going to be for the beginning aspects of it.<br \/>\n4:40<br \/>\nNow, um, as part of begetting aspects, when we\u2019re switching things over, when we set up a new company, for many situations, it does helped to have a W nine. So, in the states, we do an LLC and then we\u2019re going to start receiving some sort of cash flow with the LLC.<br \/>\n4:57<br \/>\nUm, and, uh, the way we want to document that with the payor is to give them a document under penalties of perjury using Form W nine. It\u2019s an IRS form and that may sound kinda scary and intimidating.<br \/>\n5:11<br \/>\nI really don\u2019t like dealing with the IRS, but this is a way to not deal with the IRS from what I\u2019ve found over the years, because if you don\u2019t use this W nine form, and you can find it on the internet, just search form W nine, it\u2019s a PDF. I think the latest revision is 2018, and that\u2019s perfectly fine.<br \/>\n5:26<br \/>\nUm, the reason why we do that is so that we say, and we certify the correctness of the tax number for the LLC, Now, the LLC is the account holder.<br \/>\n5:35<br \/>\nIt does not matter that you\u2019re using your SSN to sign for the LLC at whatever. Exchange or bank. That does not create a liability at all whatsoever, You\u2019re not tied to the money, you\u2019re not tied to the company that does, not that, it\u2019s just that you\u2019re signing for a company.<br \/>\n5:49<br \/>\nIt\u2019s not your property, except if you designate it that way in the articles, which I don\u2019t normally do. So, anything you do with me is pretty much going to be outside of your state.<br \/>\n5:58<br \/>\nNow, just briefly looking into some of the documents like when I do an LLC, so we do the W nine to get, make sure that the \u2026 correct, I don\u2019t want the bank mistakenly using your SSN to assign to the account holder.<br \/>\n6:10<br \/>\nThat is the reason to do the W nine. Also that avoids backup withholding.<br \/>\n6:14<br \/>\nNow if you look carefully, some of you really scrutinize my documents, which is great they look kind of wonky, sometimes they look contradictory and there\u2019s a reason why I haven\u2019t written that way. The abstract documents, I give you are specifically for the bank.<br \/>\n6:30<br \/>\nThese are not binding on anyone. This is enough to get your account open, and over the years, I\u2019ve found that if I provide these documents to the bank, it seems to work more smoothly for the for the client.<br \/>\n6:40<br \/>\nI could probably eliminate a couple of those documents so but in any case, it\u2019s working. Pretty good.<br \/>\n6:45<br \/>\nI know we do have some friction because of the way these are written, especially if we\u2019re going to use a trust or an unincorporated or unregistered Association as the the single member manager or the LLC.<br \/>\n6:58<br \/>\nSo we do that. So that\u2019s why that may explain.<br \/>\n7:01<br \/>\nSome of the things that are mmm hmm.<br \/>\n7:04<br \/>\nContradictory! So I might say it\u2019s a single member.<br \/>\n7:07<br \/>\nWhen it\u2019s when it\u2019s not, or I might say it\u2019s a multi-member when it\u2019s not, it just depends on your situation.<br \/>\n7:13<br \/>\nSo I make sure that it\u2019s going to fit what you want to do, and it\u2019s gonna get your accounts open quickly.<br \/>\n7:19<br \/>\nI mean, it\u2019s not like I don\u2019t want you to call me, but I don\u2019t want you to be frustrated, you know, to try to get the accounts open. So there\u2019s a reason to move to the madness, OK, and then we have the EIN application, I tried to show you how to do that over the internet.<br \/>\n7:34<br \/>\nThere\u2019s a link in the readme first file, and maybe I should put more information there, but I\u2019m trying to avoid this, making that into an 80 page document. It\u2019s just, you know, I\u2019m trying to make it as brief as I can, and I\u2019m trying to use the video content, so I can actually make this kind of like a college course. But, anyways, in there, there\u2019s a link to the getting the EIN assigned.<br \/>\n7:54<br \/>\nYes, you do have to use an, an SSN these days.<br \/>\n7:58<br \/>\nIt used to be where we could use any EIN and get the new EIN.<br \/>\n8:02<br \/>\nWe have to use someone\u2019s social security number to get an EIN.<br \/>\n8:06<br \/>\nUm, if you\u2019re out of the country, and for some reason you need an LLC in the states, there are services that will usually charge $50, and someone will use his or her SSN, to get you an EIN for your company. Again, that does not create any liability for that person, that\u2019s why he\u2019s willing to do it. That person does it professionally. I don\u2019t like to do it that way.<br \/>\n8:26<br \/>\nI\u2019d rather have more autonomy with my client, and I don\u2019t want to get tangled up in any way with the client.<br \/>\n8:31<br \/>\nUm, I just found it works better. But there are some services, like registered agents, they like that service, I\u2019m glad they\u2019re out there, and the people that get \u2026 for, for others.<br \/>\n8:43<br \/>\nSo that\u2019s available. Very seldom do I have to use it.<br \/>\n8:47<br \/>\nYes, end.<br \/>\n8:50<br \/>\nThe, the, the LLC, if I could just add the LLC, that is Engine, the name Landry that we\u2019re gonna get your document.<br \/>\n8:59<br \/>\nSo, I see you posted a couple of times, I\u2019m sorry for the delay. But we just wanna make sure we get everything right.<br \/>\n9:04<br \/>\nSo, we\u2019ll send that over shortly. We\u2019re gonna get into some of these questions. I\u2019m sorry if I go too long. So \u2026<br \/>\n9:09<br \/>\napplication, Debbie nine\u2019s, those are the basic things. I know, y\u2019all have a lot of questions on, What about Coinbase and you know all the exchanges Gemini, Gemini, I think seems to be the more difficult one.<br \/>\n9:21<br \/>\nSo you\u2019re trying to get on these exchanges to get access to coins.<br \/>\n9:24<br \/>\nAn option, I think a pretty good one is Caleb and Brown.<br \/>\n9:27<br \/>\nSo, um, I mean, I know you you all know about that. So, I like him around because there\u2019s no question about reporting as of yet. I don\u2019t, I don\u2019t see that in the near future either.<br \/>\n9:36<br \/>\nBut, again, if you\u2019re using an LLC, that\u2019s going to cover you and the service that I have, that\u2019s actually an escrow service that will clear funds, you don\u2019t need to use it. If you have an LLC, the way I\u2019m setting it up, you can actually clear the fund yourself.<br \/>\n9:49<br \/>\nThis is for people that don\u2019t have that setup yet, and I just want to make that service available.<br \/>\n9:53<br \/>\nSo like the example I give people, is, you can trade all you want, make all the profit you want, and have higher value of coins, and then go into escrow and buy real estate as long as you don\u2019t take the real estate in your name.<br \/>\n10:04<br \/>\nOr if you structured with a loan, you\u2019ll be fine, and that way, I\u2019m just trying to demonstrate how it can be done without thinking that you need an LLC first. I want everyone to realize that there are options. I don\u2019t like to think that I\u2019m the only guy that can set this up.<br \/>\n10:19<br \/>\nYou know, it is a pretty good system, but there are options to do this.<br \/>\n10:23<br \/>\nSo, anyways, with that, I don\u2019t know what else.<br \/>\n10:26<br \/>\nWe could probably want you guys to bring up some questions, because of the, the different exchanges and how they ask you.<br \/>\n10:31<br \/>\nAnd lately, I\u2019ve found the banks ARR Doing some weird things with the new account application process. When you go to the bank with an LLC, it should be no question that you\u2019re gonna open a business account. And the way this is written. OK, the way the, the abstract is written in a way the articles are, with the State.<br \/>\n10:52<br \/>\nThat, um, the way I have the articles are written for you when you go open your accounts.<br \/>\n10:59<br \/>\nThe way to describe this is I\u2019ve written it in a way too, so that you can manage risk in a certain way.<br \/>\n11:06<br \/>\nSo when you go to the bank, and the bank says, oh, you\u2019re your PMA, it needs an EIN, or it says some other, whatever tells you to do something to your documents.<br \/>\n11:15<br \/>\nThe bank is trying to change the way you\u2019re, you\u2019ve already decided to manage risk and it has no idea what risk you\u2019re seeking to manage, right?<br \/>\n11:24<br \/>\nSo my response to the bank is, OK, if I make these changes, then the bank is going to have to indemnify me against the risk that I was managing. By the way, I had it set up originally, and you don\u2019t know what that risk is. It\u2019s an unknown risk, so it doesn\u2019t make any sense, and they actually can\u2019t do it anyways. It\u2019s outside of the charter.<br \/>\n11:40<br \/>\nSo, I mean, I\u2019m not trying to be argumentative with people, but I want to make the point that I want you to know that you have the authority that you\u2019re the boss, it\u2019s your company, you\u2019re liable for everything you\u2019ve chosen to make Manage risk a certain way.<br \/>\n11:53<br \/>\nAnd some bank employee, I don\u2019t care what he says about, This is our policy.<br \/>\n11:58<br \/>\nThat\u2019s a business, too. Just like yours is.<br \/>\n12:00<br \/>\nHe doesn\u2019t get to tell you how to run your business. Now, of course, he could say, go somewhere else, and in which case, I would.<br \/>\n12:07<br \/>\nThere are still options, and I think we\u2019re in the last days of that business, I think, where we\u2019re going to be pretty soon using just Kryptos.<br \/>\n12:15<br \/>\nAnd then, so anyways, you guys are better than I am at asking those questions with the problems you\u2019re having with exchanges. Let me get to the chat window here real quick and see if I don\u2019t wanna miss anybody.<br \/>\n12:26<br \/>\nAll right, sometimes I\u2019m slow on unmuting, All right, so Yep, Yeah, I\u2019m trying to, OK, let\u2019s see here. Scheduler.<br \/>\n12:41<br \/>\nOK.<br \/>\n12:44<br \/>\nDon\u2019t be so concerned about making mistakes on LLCs and choosing the right state and everything like that, Pretty much registering an LLC is going to be a good start. OK, and then you can choose the Tax treatment. You can choose what you want to do. Most people like the idea of not filing. I mean, that makes total sense. I mean, there\u2019s many, There\u2019s many options there. See?<br \/>\n13:07<br \/>\nYeah, OK, So anytime you\u2019re using money from wherever to pay off debts, that\u2019s just income. So just, that\u2019s fine. You already understand that, no problem there.<br \/>\n13:16<br \/>\nWhat we\u2019re, what we\u2019re really doing, I think, is, um, it\u2019s kinda like a blanket approach to preventing or solving lots of potential problems.<br \/>\n13:23<br \/>\nIf I, if I build up a wealth somewhere, that\u2019s not in my name, and that I don\u2019t have the exclusive rights over, but yet, I still control it, my personal liability can never reach into that thing that I\u2019m creating. So, I want $5 million net worth. I want a $50 million net worth over there. I don\u2019t need to have that on my Balance Sheet.<br \/>\n13:42<br \/>\nMy tax reporting, my annual tax return should be the same, whether or not I become rich.<br \/>\n13:51<br \/>\nOK, I, meaning you know figuratively whether or not my net worth increases my reporting to the IRS or whatever should be the same.<br \/>\n14:00<br \/>\nUm, I mean, really, at the very minimum, we should be reporting, are living expenses. You can\u2019t go less than that, not legitimately, that\u2019s going to cause an audit.<br \/>\n14:08<br \/>\nSo, with that being said, I just want to let you guys, um, if we could, I\u2019m going to try to call on you.<br \/>\n14:14<br \/>\nOK, so Dmitri\u2019s already raise your hand, so.<br \/>\n14:19<br \/>\nGo right ahead, Demeter, Hey, John. How are you? Sort of talked too much so much. No, no, no. Not at all like you kidding. I love it, OK?<br \/>\n14:29<br \/>\nSo, really quickly, really stupid question, but basic.<br \/>\n14:34<br \/>\nI never renewed my LLC from when we opened it last April, just because I\u2019ve never gotten a bill, and I totally forgot about it.<br \/>\n14:42<br \/>\nAnd so, what do I do right now? Am I in trouble with it hasn\u2019t lapsed? What state is it in?<br \/>\n14:49<br \/>\nOhio: OK, that one, OK, if it\u2019s that new and you want to, you want to have it in good standing for some reason, because you don\u2019t have to, but if you want to keep it a good standing and it\u2019s just expired, like a couple of months ago, or even within the year.<br \/>\n15:00<br \/>\nSo you\u2019re out approaching the second year and it expired after that first year.<br \/>\n15:04<br \/>\nIt\u2019s, maybe you might have a small penalty, like $25 fee, OK.<br \/>\n15:09<br \/>\nIn Ohio, I think it\u2019s $99, and then you send them your articles, again, Your annual report, OK? That\u2019ll keep it in good standing.<br \/>\n15:16<br \/>\nNow, if it\u2019s like five years old, I probably would just set up a new company because I\u2019m cheap. So I\u2019m not going to, Like, the fees might be $1100 at that point, Right? So, it\u2019s way cheaper, just set up a whole new company.<br \/>\n15:27<br \/>\nOK, it\u2019s under a year, it\u2019s only a few months, but do we want it? And that\u2019s what I\u2019m asking, because I remember in a previous call you and said, you can let it lapse. No big deal. So can you just clarify, what do we really want to do to keep all our T\u2019s crossed and the I\u2019s dotted? Yeah. Here\u2019s here\u2019s a way to make that decision.<br \/>\n15:45<br \/>\nIt\u2019s kind of a nuisance to deal with that. It\u2019s OK, though. I mean, it\u2019s like taking up the trash, but you only do it once a year.<br \/>\n15:52<br \/>\nThe only reason you want to keep your company good standing is if you\u2019re going to use it for new relationships, like a new lease agreement, a commercial lease agreement, maybe you\u2019re gonna do that next year. It\u2019s in good standing this year, but the second year of your LLC, you\u2019re gonna do something with it. You\u2019re gonna go open a new bank account, maybe. Are you going to do in a new investment with a third party? So, you want to keep it in good standing, because some of the bank underwriting requires its account holders to be in good standing if their businesses.<br \/>\n16:16<br \/>\nBut, if you\u2019ve already got, let\u2019s say, two business accounts open, and you\u2019ve got a couple Exchange accounts open, and that\u2019s all you\u2019re going to use it for, you don\u2019t need to keep it in good standing.<br \/>\n16:24<br \/>\nI can tell you right now, I\u2019ve got one company that I use as my core cash flow, and I think I\u2019ve been using it for 17 years. And it was a Delaware company.<br \/>\n16:32<br \/>\nI setup way long time ago, and it\u2019s been expired ever since.<br \/>\n16:36<br \/>\nI\u2019ve never paid a fee after the first year, and I\u2019ve run millions of dollars to there.<br \/>\n16:40<br \/>\nSo you shouldn\u2019t have any problem at all. I mean. But again, If I tried to go, here\u2019s what I would do.<br \/>\n16:44<br \/>\nIf I tried to get a commercial lease agreement with that or open a new bank account with it, I would literally have to open up a new or registered that named company in a different state.<br \/>\n16:56<br \/>\nOK, because I\u2019m in Illinois. Right. And I just finally found a bank that I can work with. And if I can add my 2%, I\u2019ve been trying to, chase to know when banks, OK, yeah, I\u2019ve had a lot of people want, they want me to declare that I\u2019m part owner, or what my percentage of ownership.<br \/>\n17:13<br \/>\nYeah, And so I couldn\u2019t find anybody.<br \/>\n17:16<br \/>\nAnd I finally found a local bank in Illinois when trust Great Company. Great Bank.<br \/>\n17:23<br \/>\nShe didn\u2019t care anything. All she put me down was as a signature. She said, Yeah.<br \/>\n17:28<br \/>\nWe don\u2019t care who owns it. So she worked really well.<br \/>\n17:31<br \/>\nShe kind of understood and read between the lines, and I got really scared because I just opened at about a month and a half ago and my LLC had lapsed in terms of a year. That\u2019s what they opened up. They didn\u2019t give me a problem. So that\u2019s nice, and they didn\u2019t look OK cool, but it\u2019s the same, you know, the dealers. So, any new deal. Any new contracts. Yeah, they want it in. Good standing. But that\u2019s nice.<br \/>\n17:54<br \/>\nSo, you do kind of have to shop around sometimes.<br \/>\n17:57<br \/>\nYeah, absolutely, and Caleb and Brian, I\u2019m just in the process of opening now. Are they going to catch it?<br \/>\n18:02<br \/>\nYou think, should I go online, as soon as possible, to renew it for this year? They will want to see a copy of your articles.<br \/>\n18:10<br \/>\nI said those already.<br \/>\n18:12<br \/>\nI think they\u2019ll act only on that paper copy, I don\u2019t think they\u2019re gonna look it up to see if it\u2019s still valid.<br \/>\n18:16<br \/>\nI don\u2019t think they do that, OK, Yeah, And that\u2019s it. Yeah, I\u2019m glad you made that comment, because the percent ownership.<br \/>\n18:24<br \/>\nSo, the bank rules are that if you have a 25% or more interest in the company, you have to disclose your ID.<br \/>\n18:31<br \/>\nWell, it doesn\u2019t require the bank to require you to obtain a 25% ownership.<br \/>\n18:38<br \/>\nUnderstand that. So this is how you talk to these people, say, I understand your policy.<br \/>\n18:42<br \/>\n25% ownership, right. But I don\u2019t have a 25% ownership. This organization has 100% ownership.<br \/>\n18:49<br \/>\nI\u2019m not required to go gain an ownership just like IBM\u2019s accountant who has asked to open a bank account for IBM in a new town, they\u2019re opening in, right.<br \/>\n18:59<br \/>\nThe bank can\u2019t tell him, you have to acquire some IBM stock.<br \/>\n19:04<br \/>\nI mean, I\u2019m saying that to you so that you can have a language, you know, to have a conversation because the person you\u2019re talking to might say, oh, that\u2019s a good point. I haven\u2019t thought about that. Let me check and make sure.<br \/>\n19:13<br \/>\nAnd then that person, we\u2019ll call somebody say, Yeah, it doesn\u2019t make sense, you know?<br \/>\n19:18<br \/>\nThat might prompt them, but you never have to take ownership. You\u2019re trying not to.<br \/>\n19:24<br \/>\nI mean, if you wanted to, ownership, if, I have a situation where I need two people to be members will find it\u2019s an undivided interests, and each is, you know, 100% or 50 50 or whatever.<br \/>\n19:37<br \/>\nThat works out, too.<br \/>\n19:39<br \/>\nOK, Thank you.<br \/>\n19:40<br \/>\nAll right, yeah.<br \/>\n19:44<br \/>\nGo right ahead.<br \/>\n19:47<br \/>\nHey, John. Um, so I actually wanted to jump into allocation.<br \/>\n19:52<br \/>\nYeah, get your mind.<br \/>\n19:55<br \/>\nSo I was just, know, I was talking with you before and when I think of allocation, I think about like, hey, if I have $3 million, I don\u2019t want to allocate.<br \/>\n20:05<br \/>\nI mean, I do it in between, and in real estate I put some in maybe gold and precious metals and then I will diversify some on the business.<br \/>\n20:17<br \/>\nBut I remember we were talking about real estate and that, that whole market is really wonky right now.<br \/>\n20:23<br \/>\nYeah.<br \/>\n20:25<br \/>\nSo, that\u2019s problematic because, really, I mean, that\u2019s where, ah, that\u2019s where a lot of the windfall can go.<br \/>\n20:37<br \/>\nBut, but prices are so high and I think there\u2019s a shake out.<br \/>\n20:44<br \/>\nYeah. Coming in.<br \/>\n20:45<br \/>\nAnd so, I\u2019m just thinking to myself, you know, like, the, like, the real big, I mean, where, what are, what are they in? Are they?<br \/>\n20:54<br \/>\nYeah. And they\u2019re like speculating and doing derivatives. I mean, they have to have their stuff someplace. Oh. And then the last thing I\u2019ll just say is, I don\u2019t want millions of dollars in the bank because the dodd frank Act Yeah, So, that\u2019s not vigorous Smart.<br \/>\n21:10<br \/>\nI ever wanted to do that. Yeah.<br \/>\n21:12<br \/>\nI don\u2019t ever want I just always have assets and cashflow and, yeah, separate everything out.<br \/>\n21:18<br \/>\nSo, I searched on who\u2019s buying the property, but this is my conspiracy theory.<br \/>\n21:25<br \/>\nSo, it\u2019s probably close. I can tell you who it is. It\u2019s, it\u2019s, it\u2019s black, Black Rock right now. Those guys, right?<br \/>\n21:31<br \/>\nIt\u2019s the largest, single Yeah, Yeah. There\u2019s there, the stair that, their number one single family buyer right now of single family homes. And who owns Blackrock? Who owns it? Is it privately held Or is it public? Blackrock is held by Vanguard and Vanguard is private.<br \/>\n21:54<br \/>\nThere\u2019s a whole video on it. I can, yeah, I could send you the link. It explains that this would be worthwhile to research and ask, answer the question, should I get into real estate?<br \/>\n22:02<br \/>\nAnd if I am, how should I do that?<br \/>\n22:06<br \/>\nAnd I believe that the trend is too.<br \/>\n22:09<br \/>\nHave private ownership of real estate, let\u2019s say residential, so that you and I can own it.<br \/>\n22:16<br \/>\nAh.<br \/>\n22:17<br \/>\nSo, it\u2019s a longer on the market. Ever.<br \/>\n22:21<br \/>\nYeah, that\u2019s what\u2019s happening, They\u2019re buying it all up, they\u2019re using, they\u2019re going to need to do it, to destroy the dollar at the same time, they\u2019re using our money to do that.<br \/>\n22:30<br \/>\nYeah, Got it.<br \/>\n22:33<br \/>\nAnd you\u2019re right, it\u2019s never going to go back on the market.<br \/>\n22:36<br \/>\nThat\u2019s the plan, I think.<br \/>\n22:37<br \/>\nYep, yeah. But we have a feudal system. People haven\u2019t realized that the feudal system came in after the Civil War.<br \/>\n22:45<br \/>\nFeudalism is.<br \/>\n22:46<br \/>\nYou guys can look this up, but basically, it\u2019s you don\u2019t own anything.<br \/>\n22:50<br \/>\nWe\u2019re already there.<br \/>\n22:52<br \/>\nThere was, there was a period of time in our history here in the States where it was up until, I think, probably 18, 20, 1860, roughly.<br \/>\n23:01<br \/>\nThat, we did have kind of an \u2026 system.<br \/>\n23:04<br \/>\nIt was hammered down into what we have now. So, yeah, it\u2019s going to be more and more obvious to people that they cannot own anything.<br \/>\n23:12<br \/>\nSo, at any price, it won\u2019t be for sale. So, what do you do?<br \/>\n23:14<br \/>\nI mean, you can\u2019t still do it. I mean, the evil money is out there, they\u2019re not going to own everything. But they\u2019re gonna make it real difficult for people.<br \/>\n23:21<br \/>\nMean, as they already have.<br \/>\n23:23<br \/>\nI mean, right now, you see, I\u2019m telling tenants, you don\u2019t have to pay your rent, but then, the owner has to pay the mortgage, got Talya, so that\u2019s kinda scary.<br \/>\n23:32<br \/>\nResidential is, I\u2019ve real estate investor friends, and they\u2019re saying, You know, residential, I would rather go and residential commercial.<br \/>\n23:39<br \/>\nWell, that\u2019s kind of an obvious because if I drive around town, I see, yeah, you know, vacancy rates are 80% very easily.<br \/>\n23:46<br \/>\nEven even my gosh. Next year, it\u2019s going to be, Oh, it\u2019s going to be bad.<br \/>\n23:50<br \/>\nSo, anyway, Marshall, you\u2019re a commercial, commercial, office, business, No, retail, really? I mean, I think that\u2019s going to be, I got it. I mean, it already has been.<br \/>\n24:02<br \/>\nThere are some that are out there building new places. I don\u2019t know if you guys see this, but in Florida where I live in Orlando, I see brand new facilities going up.<br \/>\n24:09<br \/>\nSo who\u2019s?<br \/>\n24:10<br \/>\nWhat kind of money is that? I don\u2019t know.<br \/>\n24:12<br \/>\nBut it\u2019s too risky for me, because I can\u2019t see a use case that\u2019s different enough than the traditional use case, because of the traditional use case is being destroyed, right?<br \/>\n24:24<br \/>\nRestaurants, strip malls, shopping centers, traditional use case. What do you do now?<br \/>\n24:29<br \/>\nBecause here\u2019s a trend now.<br \/>\n24:32<br \/>\nAnd I have a lot of clients, I\u2019m working with them, the situation they\u2019ve gotten, they were destroyed in the strip mall area, and they\u2019re able to move their operations, their retail operations, into their garage.<br \/>\n24:42<br \/>\nAnd it actually works for them, It\u2019s not the best situation, but it actually will work. It\u2019s like, it\u2019s like what they do in Europe.<br \/>\n24:47<br \/>\nMy family is from Europe, and they have their, you know, their little businesses beneath all their homes, that are eight stories high, you know, right, all the apartments they live in.<br \/>\n24:57<br \/>\nYeah.<br \/>\n24:59<br \/>\nSo, so my question for you, John, is, is, if, right now, residential real estate, if, if states are passing laws that, say you don\u2019t have to pay your mortgage, then what\u2019s like, what are, what\u2019s Blackrock? Doing then with all their rentals? Do they just have enough like evil bank money that they can float it until the moratorium on mortgages gets dropped?<br \/>\n25:24<br \/>\nThen it\u2019ll, they\u2019ll continue that. Yeah, I believe that\u2019s a very brief way of looking at it as a jury, generalized way, but I think it\u2019s close to being accurate. Yeah. I think, Blackrock, among others, is given free money. You can, you can look at what Katherine, Austin fits, has been saying about this.<br \/>\n25:40<br \/>\nShe\u2019s on it, and she\u2019s not going to tell you everything. You can tell.<br \/>\n25:44<br \/>\nShe knows way more than she\u2019s saying, but, uh, she says enough.<br \/>\n25:47<br \/>\nSo if you\u2019re trying to gage what to get into, listen to as many people, as you can. That, you know, our experts, Kathryn, fits as a really good example.<br \/>\n25:58<br \/>\nMy recommendation for most people is to re-allocate with a windfall.<br \/>\n26:04<br \/>\nYou want to pick two assets to get into two asset classes.<br \/>\n26:09<br \/>\nSo the first go to is real estate, and there\u2019s, in my opinion, about 20 ways to get into real estate.<br \/>\n26:15<br \/>\nYeah, OK, and the other one is something that you love and or that you\u2019re proficient in. Hopefully it\u2019s, you got both there. If not, you can work through that. If you don\u2019t have anything like that.<br \/>\n26:26<br \/>\nLet\u2019s say you\u2019re proficient in something and you just hate it and then you\u2019re willing to get into something new. You can always partner with somebody.<br \/>\n26:33<br \/>\nNo, and that\u2019s how those work, so. Yeah, are you talking about like a business? Like a cat, like the second thing being like a cash flow or something. Yeah, Could be a brick, and mortar could be a restaurant, maybe your best friends owned a restaurant for 20 years and it\u2019s just booming, and you see it, no, end in sight Heck, yeah. Because, what\u2019s in it for him to let you in on the party?<br \/>\n26:53<br \/>\nWell, maybe he wants a little bit of liquidity.<br \/>\n26:56<br \/>\nSo, for a quarter million dollars, you know, and maybe he doesn\u2019t want too much.<br \/>\n26:59<br \/>\nMaybe you have three million, and he won\u2019t take, but he won\u2019t take more than a quarter million.<br \/>\n27:04<br \/>\nSo, you gotta think about, because you want to spend at three million sometimes.<br \/>\n27:08<br \/>\nSo, you might have to get into some deep water sometimes, but just have people around you that you can, you know, consult with.<br \/>\n27:16<br \/>\nThey\u2019d have knowledge in that area.<br \/>\n27:18<br \/>\nSo OK, make your life a little easy, you know, pick to get out a blank piece of paper, I mean that\u2019s, they notebook and a column down the middle and say, Real Estate.<br \/>\n27:28<br \/>\nSo, here\u2019s a couple of ideas, look at all the different zones for real estate in your area.<br \/>\n27:35<br \/>\nYou got commercial, industrial, agriculture, residential, multi-family, residential, and derivatives of that, OK.<br \/>\n27:43<br \/>\nYeah, you got paper products you got tax lien certificates.<br \/>\n27:47<br \/>\nYou got notes, note brokering, you\u2019ve gotten all this stuff, right, this is lending.<br \/>\n27:52<br \/>\nSo, there\u2019s all kinds of things.<br \/>\n27:54<br \/>\nYou mean, it\u2019s, it\u2019s, there\u2019s wholesaling, I mean, gosh, there\u2019s so many things you could do, so go through all that. So when you get into real estate, and you\u2019re, you understand, you begin to understand it, you want to invest in it vertically. So when I say vertically, this is a way to diversify.<br \/>\n28:09<br \/>\nYou spread it out into the, your supply chain and more similar types of markets.<br \/>\n28:15<br \/>\nYou don\u2019t you don\u2019t diversify by just throwing money everywhere.<br \/>\n28:18<br \/>\nIt looks interesting you to vet you. Diversify, diversify in where you are. For example, that the one I always give is the cup I was working with where they have a sandwich shop in a strip mall.<br \/>\n28:30<br \/>\nAnd so we get to this point in the conversation after about a year, and they\u2019re like, OK, we\u2019re at a point now where we want to think about what you\u2019re mentioning earlier, how do we enhance our investment in the sandwich shop?<br \/>\n28:42<br \/>\nAnd I said, We\u2019ll diversify.<br \/>\n28:43<br \/>\nAnd that doesn\u2019t mean, Take some of your profits and go buy stock on the, you know, stock exchange it means. Yeah.<br \/>\n28:49<br \/>\nYeah. It means I would invest in one of my suppliers.<br \/>\n28:53<br \/>\nWhat am one of my most stable suppliers in a sandwich shop in a strip mall is what?<br \/>\n28:58<br \/>\nWhat would you think?<br \/>\n29:01<br \/>\nI mean, it would be, or the person delivering your products for the sandwich shop, so yeah, but he\u2019s kinda crazy. I can\u2019t rely on that guy. I think he has a problem.<br \/>\n29:12<br \/>\nWhat if it\u2019s the strip mall, just by the strip mall?<br \/>\n29:16<br \/>\nYou gotta think a little big, somebody, yeah, right? So I own the sandwich shop, or I own the business, and I\u2019m renting the sandwich shop, right?<br \/>\n29:23<br \/>\nAnd finally, building, buy the building.<br \/>\n29:26<br \/>\nAnd it\u2019s not hard to do that. You can, I\u2019m not saying, it\u2019s, you know, cheap.<br \/>\n29:30<br \/>\nYou can make an offer, OK, with a straight face.<br \/>\n29:34<br \/>\nCan I buy the strip mall, you know, can I buy them all, and work it out. I mean, you can get an options contract on it. For example, let\u2019s say I was going to do that and let\u2019s say them, all $7 million.<br \/>\n29:46<br \/>\nSo, I make an offer on that. And maybe the seller, He\u2019s willing, he\u2019s like, OK, yeah. Maybe it\u2019s a good time to sell. But I need $50,000 down and we work that out and so I come up with $50,000 and I get an options contract. And it\u2019s good for whatever term you know, and the reason why I get an options contract. Because I\u2019m not coming up with $7 million.<br \/>\n30:03<br \/>\nI\u2019m gonna go find some other people that want to come in with me, and they\u2019re gonna get, yeah, I\u2019m gonna, I\u2019m gonna shop for $2.5 million segments, right?<br \/>\n30:13<br \/>\nNow I gotta have partners because I am definitely going to take on the risk myself.<br \/>\n30:17<br \/>\nSo now I can have provisions in there.<br \/>\n30:19<br \/>\nBecause that way, if I go solicit capital for this, no one\u2019s going to go around me.<br \/>\n30:27<br \/>\nIf I have an option on the title, that means I can try title, makes me a detector owner. Yeah. So you got to think of things like that so that\u2019s an example of diversifying in real estate.<br \/>\n30:36<br \/>\nI\u2019m not saying I\u2019m like a pro at that. I\u2019ll do other stuff.<br \/>\n30:40<br \/>\nYou know, but that\u2019s an example of how you could do it.<br \/>\n30:43<br \/>\nThe other one is, of course, something that you\u2019re really good at, proficient at, or that you love, or that you could love.<br \/>\n30:48<br \/>\nI\u2019ve talked to so many people that they have things that they are doing as a hobby that can actually make a bunch of money mm, and in some cases, when we talk about it, they\u2019re like, Yeah, I\u2019m gonna do that, and they actually do it.<br \/>\n30:59<br \/>\nUh huh, Oh, OK, I was talking to a gentleman the other day, and he had, um, we just, I was solving another problem. And then I just seemed like a kind of person that I could ask this question. I said, Why are you working at that job that you are now?<br \/>\n31:13<br \/>\nAnd he started laughing, he goes, Well, I just, I\u2019m trying to save up my money because I have this product, it\u2019s a hair care product.<br \/>\n31:19<br \/>\nHe\u2019s actually inventing a Haircare products It just took me by surprise. Like, yeah, you never know, you know.<br \/>\n31:23<br \/>\nSo, um, because I\u2019m saving up my money for my job so that I can fund the development of the project.<br \/>\n31:30<br \/>\nAnd I said, Well, why don\u2019t you go find out who\u2019s who would your competitor be?<br \/>\n31:36<br \/>\nWho would compete with you in that product?<br \/>\n31:39<br \/>\nAnd by that competitor, on the retail side, like, don\u2019t buy the whole manufacturer, or just just buy a retailer in that competitive market, and then take your product, or take the cash flow from the competitor.<br \/>\n31:50<br \/>\nThat\u2019s now, you know, you now own, and put your product, use the cash to develop your product now faster.<br \/>\n31:57<br \/>\nAnd then put your product, of course, in that competitors, shopping cart, so to speak.<br \/>\n32:03<br \/>\nSo, I\u2019ll buy a website that\u2019s doing that.<br \/>\n32:05<br \/>\nAnd so instead of waiting for the money or trying to save it up, which is the old thinking, my dad thought, and he was never, he never had a high net worth. He never had a net worth and his whole life.<br \/>\n32:15<br \/>\nAnd he, he was a saver like, his, His dad was, and at that time, you know, World War II, that was the time to save money. But, now, it\u2019s not.<br \/>\n32:22<br \/>\nSo, I think my suggestion was, go find the tool that\u2019s going to produce the money to fund your project. Don\u2019t wait till you get the money to try to fund the project.<br \/>\n32:33<br \/>\nThat\u2019s the backwards way to do it.<br \/>\n32:35<br \/>\nYeah, he\u2019s actually doing that now.<br \/>\n32:37<br \/>\nCool. So, now we\u2019re talking about small money. OK, we\u2019re talking about 15 granderson like that, now, it could turn into big money. But what we\u2019re talking about here is, OK, re-allocate. I got one point five million dollars, So I got $7 million.<br \/>\n32:46<br \/>\nYeah, real estate, probably the bigger things you\u2019d get into would be agriculture, like farming.<br \/>\n32:54<br \/>\nSo, I don\u2019t know, I\u2019m not yeah, I mean, we need farmers. But realize also, you know, they\u2019re under attack.<br \/>\n33:02<br \/>\nThe forums are there under attack, no evil people, they literally want to destroy the topsoil so it is irretrievable they cannot, you cannot recover that it\u2019s, I can\u2019t even imagine that, but I mean farmers right now being paid to plow under their crops. So, I will just mentioned this to you.<br \/>\n33:23<br \/>\nOK, with that going on, I think the future of farming is going to be micro farming, permaculture, aquaponics.<br \/>\n33:31<br \/>\nHydroponics, things like that, and also underground farming.<br \/>\n33:36<br \/>\nunder ground, We have technology now where we can piped sunlight into a facility. In fact, right now, these big, tall scraper, tall skyscrapers over there in China.<br \/>\n33:47<br \/>\nI\u2019ve seen this, you can find on the internet, too.<br \/>\n33:49<br \/>\nThere are farms underneath these tall 100 story buildings, like corn.<br \/>\n33:55<br \/>\nThey\u2019re growing corn underneath and these buildings, when you build a building that\u2019s 100 stories, It\u2019s I think It\u2019s got to have a counter-balance of about 30 stories underneath the ground.<br \/>\n34:06<br \/>\nOh, wow, yeah. We don\u2019t realize that. We just think the building is sitting on top of the ground, but it\u2019s not. It\u2019s actually in the ground.<br \/>\n34:12<br \/>\nAnd underneath that is farming in China.<br \/>\n34:16<br \/>\nThat\u2019s crazy.<br \/>\n34:18<br \/>\nYeah, so just realize there\u2019s a lot out there. If you just do some investigation into it, then, yeah, I could direct $50 million at a project.<br \/>\n34:26<br \/>\nBut you know, I don\u2019t know, I wouldn\u2019t put money anywhere right now, except Kryptos and precious metals.<br \/>\n34:31<br \/>\nAnd I don\u2019t even like precious metals and I really don\u2019t like Kryptos, but you kinda have to do it. It\u2019s gonna be a tool, I mean, you\u2019re gonna have to have kryptos, I just don\u2019t like sitting there and waiting for the price to go up against the dollar.<br \/>\n34:40<br \/>\nBut I don\u2019t know where else to go.<br \/>\n34:42<br \/>\nRight now. Right. Right, And then, and then, again, you know, like, like you said, precious metals, That\u2019s manipulated, as well. So as that, would you say precious metals is more of a short term, long term midterm or play? Let me clarify with precious metals.<br \/>\n34:57<br \/>\nMy thinking on precious metals is that I\u2019m not going to keep my precious metals more than a few months.<br \/>\n35:05<br \/>\nBecause I\u2019m going to do something else.<br \/>\n35:07<br \/>\nThat\u2019s my plan. I\u2019m just go into precious metals because I don\u2019t want to be in the dollar and I don\u2019t want to be in the bank.<br \/>\n35:11<br \/>\nAnd I, you know, I\u2019m, I\u2019m, I feel some more secure in a vault somewhere or taken ownership or something. I\u2019m not, I\u2019m not buying precious metals for the sake of precious metals. Yeah. It\u2019s to manipulate it.<br \/>\n35:24<br \/>\nBut looking at the past, I\u2019m saying, well, OK.<br \/>\n35:26<br \/>\nEven if the price goes down against the dollar, I can still recover, and it\u2019s, I think, a lot more secure than buying rice or commodities, maybe, you know, or sure certainly Yeah, Yeah. Yeah. Or you could do it and so like.<br \/>\n35:42<br \/>\nHow do you determine the percentage that you go into a gold or silver like million dollars to percentage, it\u2019s a percentage. So I look at it like this. An investment of precious metals, OK, I jokingly tell people, invest. Invest in gold, if you\u2019re old.<br \/>\n35:59<br \/>\nAnd what I mean by that is if you don\u2019t have any creative ideas, and you don\u2019t feel like it, you don\u2019t feel like it, like you\u2019ve done the work in your lifetime, you\u2019re done with, you know, you\u2019re 600 to maybe or even 53, whatever. And so, yeah, then go into gold. No shame there.<br \/>\n36:15<br \/>\nSo, you\u2019re just parking it somewhere.<br \/>\n36:17<br \/>\nBut then what percentage? So so keep that in mind, that\u2019s my opinion of gold.<br \/>\n36:22<br \/>\nI\u2019m not trying to make a lot of money on gold.<br \/>\n36:24<br \/>\nI don\u2019t think anybody ever will, but, yeah, if if gold is for that purpose, then what part of your portfolio do you want to not perform, Right, and not perform with gold, is way better than trying to get into the stock market, in my opinion.<br \/>\n36:39<br \/>\nOr even going into the dollar.<br \/>\n36:41<br \/>\nExactly, Yeah, I agree, I agree with that, yeah, so, still golda safe, but it\u2019s a way to move money or harbert for a short period of time.<br \/>\n36:51<br \/>\nYep. And that\u2019s why, you know, you\u2019re bringing this up, have an allocation or re-allocation plan. And so, yeah, that\u2019s good. That\u2019s the hard part.<br \/>\n36:58<br \/>\nBut still, I don\u2019t think we should forget the old traditional ways of investing and yeah, I hate Warren Buffett, the drug dealer, but.<br \/>\n37:05<br \/>\nIf you can read his book, The Warren Buffett Way, OK and also Rich Dad Poor Dad, very basics, there\u2019s some more sophisticated books out there. OK I like the idea of a value investor.<br \/>\n37:18<br \/>\nI could look at our Warren Buffett, bought Amex, check that out.<br \/>\n37:22<br \/>\nYou\u2019ll see what I\u2019m talking about.<br \/>\n37:23<br \/>\nUm, another thing to keep in mind about basics and discipline.<br \/>\n37:27<br \/>\nJust, yeah, I mean, people ask me all the time.<br \/>\n37:29<br \/>\nAnd we can talk a little bit about no estate planning.<br \/>\n37:33<br \/>\nBut they want to know what, what do I do with a windfall? And then how do I protect it from my family?<br \/>\n37:41<br \/>\nAnd you don\u2019t have to add your family members names to your, no documents or things like that. You just need to make the credentials available.<br \/>\n37:50<br \/>\nWhatever you\u2019re using.<br \/>\n37:52<br \/>\nUm, but there\u2019s a really good book if you guys wanna get it, I got the audio one years ago. It was called, The Millionaire Mind.<br \/>\n37:59<br \/>\nAnd this will give you another perspective on how actual millionaires live. It\u2019s going to be the opposite, mostly of what most of y\u2019all think.<br \/>\n38:06<br \/>\nIt just blew me away, so it was like 20 years ago I read that, then there\u2019s another book you can find for free on the Internet. You can Google this title.<br \/>\n38:15<br \/>\nIt\u2019s called the richest man in Babylon.<br \/>\n38:20<br \/>\nIt\u2019s all, OK?<br \/>\n38:21<br \/>\nThat is worth its weight in gold if it had weight.<br \/>\n38:25<br \/>\nWow, thank you for the questions.<br \/>\n38:28<br \/>\nYeah, that\u2019s great, thank you. Alright, perfect.<br \/>\n38:31<br \/>\nAll right, let\u2019s move to Alex. Thanks for waiting, Alex.<br \/>\n38:35<br \/>\nHey John, Jay. Over my volume here, so there\u2019s no delay.<br \/>\n38:40<br \/>\nCouple of questions about trust for U and W nine\u2019s It\u2019s necessary to have a W nine for a trust or do you just need the EIN?<br \/>\n38:50<br \/>\nAnd then with that, there\u2019s some exemption questions on there is that just basically left out for LLCs and trusts And then my second question is about whether it was actually about something I telegram to you about.<br \/>\n39:07<br \/>\nI was listening to a podcast by Jeffrey, Matt I don\u2019t know if you know if you\u2019re familiar with him. He\u2019s a researcher.<br \/>\n39:12<br \/>\nHe was talking about civil forfeiture OK, Basically, you know the authorities can take property that they suspect as a link to any crimes and that just made me start thinking.<br \/>\n39:25<br \/>\nNot about crime, but just basically about whether or not you could put all of your property in a residence In a trust like everything at some address Could that be part of a trust and does that keep that OK?<br \/>\n39:41<br \/>\nSo two questions there.<br \/>\n39:42<br \/>\nThey a W nine and then that whole thing about the trust OK, remind me, because I might forget the question, but Debbie Nine\u2019s, I mean, I have it open on my screen right now.<br \/>\n39:49<br \/>\nI mean, I could do a screen share if you want me to you, but it\u2019s kinda short whenever I can pull that off. And, I actually did a video on this the other day, but, um.<br \/>\n40:00<br \/>\nDo that.<br \/>\n40:07<br \/>\nSo a W nine is a best practice. Let\u2019s call it. that, OK.<br \/>\n40:12<br \/>\nSo you have a new LLC. The reason why I do the W nine is to make sure that whoever\u2019s going to pay me is going to be liable if he makes a mistake on the EIN and the name of the LLC.<br \/>\n40:23<br \/>\nAll right, so.<br \/>\n40:28<br \/>\nSo if there\u2019s pain, yeah, any pay or to the LLC I want to make sure that he\u2019s gonna pay the LLC and the LLC\u2019s name and with the correct \u2026.<br \/>\n40:38<br \/>\nI don\u2019t want my SSN on there because I\u2019m signing for this with my SSN.<br \/>\n40:42<br \/>\nRight, right.<br \/>\n40:44<br \/>\nSo, you, all you would do is put like you see here, OK, line one, you put the name of your LLC.<br \/>\n40:50<br \/>\nI come down here and I choose limited liability.<br \/>\n40:55<br \/>\nChoose P for partnership.<br \/>\n40:58<br \/>\nI put the address of the company. Now, woo, what\u2019s that? Let\u2019s see, she used the registered agent address as a rule no.<br \/>\n41:04<br \/>\nSometimes you can I like to use agent addresses that are not actual agents. I just put your name at that address so you don\u2019t have to pay every year because for most of you, you don\u2019t need that.<br \/>\n41:14<br \/>\nSo generally, I like using and the principle address of the company of the LLC, so in your documents, wherever it says principle address, I would put that here in line 5 and 6.<br \/>\n41:28<br \/>\nIf your address is in California, I would not use the California address, it\u2019s probably OK, but I\u2019m just going to say, as a general rule, I would just avoid using it as much as possible.<br \/>\n41:37<br \/>\nSo, at some point, you\u2019re gonna have to get mail from somebody, now, whatever addressee put on the LLC does not determine where mail goes. Mail goes. Where you tell people to send mail? That\u2019s it.<br \/>\n41:47<br \/>\nThen we come down here and we make sure that we only fill out this OK.<br \/>\n41:53<br \/>\nThe EIN, it\u2019s gonna fill out, yeah, do not put your SSN at all here.<br \/>\n42:00<br \/>\nSo, it\u2019s only the EIN for the LLC that goes there.<br \/>\n42:04<br \/>\nThen you definitely are gonna have to sign this, so I don\u2019t know. I think you have to print this, and sign it, and then put the date in there.<br \/>\n42:11<br \/>\nWhen you sign this, make sure that you do it with a title on your name, so you would sign it and say, You know, put your signature a comma, um, authorized signatory for an LLC.<br \/>\n42:23<br \/>\nIf it\u2019s a trust, you might want to put trustee or as trustee next to your signature.<br \/>\n42:28<br \/>\nYou can also put, if it\u2019s an LLC, you can put Vice president, you can put Managing Member.<br \/>\n42:35<br \/>\nJust anything, you wouldn\u2019t know. You would input PMA there.<br \/>\n42:39<br \/>\nNo, because there\u2019s no, there\u2019s no PMA here. got it, OK.<br \/>\n42:43<br \/>\nKnow, this has never part of the discussion guys, so I know this is another reason I\u2019m going to talk about this today because the LLC isn\u2019t OK, It\u2019s literally not a trust.<br \/>\n42:54<br \/>\nIt\u2019s gonna function that way, but it\u2019s literally an LLC.<br \/>\n42:57<br \/>\nThe fact that a PMA owns it and the fact that you\u2019re using it in that way makes you the trustee For the PMA.<br \/>\n43:03<br \/>\nWe never have to tell people that: We only talk about the LLC and your relation to the LLC.<br \/>\n43:09<br \/>\nGot it.<br \/>\n43:10<br \/>\nYeah, so that\u2019s the thing. Now see here?<br \/>\n43:13<br \/>\nCertification.<br \/>\n43:15<br \/>\nThis is what you\u2019re trying to accomplish.<br \/>\n43:18<br \/>\nYou\u2019re avoiding backup withholding. You guys can look this up as under Section 34, 31st six of the tax code.<br \/>\n43:24<br \/>\nYou\u2019re also avoiding having the liability, like for example, if I open a trust account and I don\u2019t give the bank a W nine and the person that enters, it just thinks it\u2019s OK to put my SSN for the trust EIN.<br \/>\n43:37<br \/>\nI got big problems, how am I going to correct 1099 or something, Right. It\u2019s going to be a problem.<br \/>\n43:41<br \/>\nSo, this makes sure that they do it right, that makes them liable.<br \/>\n43:48<br \/>\nIs that good? Yeah, so that\u2019s basically going to go to the exchanges, They\u2019re the ones that are going to be paying out to your company, your LLC, Exactly, trust.<br \/>\n43:58<br \/>\nThe bank should get one as well.<br \/>\n44:01<br \/>\nI agree with that. Yeah, it\u2019s a best practice.<br \/>\n44:04<br \/>\nDon\u2019t have to, but it\u2019s a good practice to do that.<br \/>\n44:06<br \/>\nYep, OK, that makes sense.<br \/>\n44:08<br \/>\nSo, I onto the other part of my question about trust and, you know, is it possible to put all of your property from of residents or the entire contents of a residence into a trust?<br \/>\n44:22<br \/>\nYeah, you certainly can do that.<br \/>\n44:23<br \/>\nSo, the only limitation really, as far as risk management, to make your trust, or whatever effective, is, you want to separate out, um, the different types of risk from the same owner, so I wouldn\u2019t use my LLC to own my car in my house.<br \/>\n44:39<br \/>\nI could use my LLC to own my house, to be the title holder of my house, and I can put a lien on my car with the same LLC.<br \/>\n44:48<br \/>\nSo title, ownership and a lienholder do not mix liability, so you can use the same LLC for those two things.<br \/>\n44:58<br \/>\nI can use an LLC for managing 3 or 4 or 8 different types of cash flow. Like I can run a restaurant with my LLC.<br \/>\n45:06<br \/>\nI can also invest in kryptos with my same LLC, have a cash account or several and then Buy and Sell Gold and have a hobbyist website where I sell woodworking with one LLC.<br \/>\n45:18<br \/>\nNo problem because it\u2019s all cash.<br \/>\n45:20<br \/>\nCash checks, whatever, It\u2019s just cash flow.<br \/>\n45:23<br \/>\nOK, but when I\u2019m taking title to things, especially fixtures on the land, like real estate, it\u2019s hard to move that stuff. It\u2019s hard to change that stuff. I can\u2019t just spend it, right? I have to find a buyer, so it\u2019s a nuisance.<br \/>\n45:33<br \/>\nSo, when I, when I take the title, I want to make sure all the risk as best as I can calculate, it is in one LLC. So if I have in one town, I have lots, I\u2019d like to do single family residential, then I\u2019d probably maybe group them by tens or something.<br \/>\n45:46<br \/>\nEven then, I\u2019ll break it apart a little bit.<br \/>\n45:49<br \/>\nIf it\u2019s a hotel, it gets its own LLC.<br \/>\n45:51<br \/>\nRight, An apartment complex, separate LLC, you can have one LLC per piece of land. Let\u2019s say you like to do single family residential, and then rent them out, for example.<br \/>\n46:02<br \/>\nSo I would have one LLC per, now, you can start that this out.<br \/>\n46:07<br \/>\nBye titling each LLC using the address of the property, and then not register the LLC, it\u2019s not necessary. It doesn\u2019t need an EIN.<br \/>\n46:18<br \/>\nIt doesn\u2019t need to be registered with the state, and I know if any attorney, here\u2019s this evil freak out and say, This guy\u2019s nuts.<br \/>\n46:25<br \/>\nThere\u2019s reasons why, and we can go into that if you asked me, but.<br \/>\n46:30<br \/>\nYou can then have the cash flow from those rentals come through one LLC that does have an EIN and it does have a bank account.<br \/>\n46:37<br \/>\nThis will make your life a lot easier, I believe.<br \/>\n46:39<br \/>\nI\u2019ve never had a problem with that.<br \/>\n46:41<br \/>\nOK, so just to straighten that point out in regards to a Trust versus an LLC.<br \/>\n46:47<br \/>\nLLC, working with different cash flows from different properties will work but with the trust, you\u2019re really just looking to, do, keep it to one title per trust. Yeah. It\u2019s the same thing. Property is the same exact thing.<br \/>\n47:00<br \/>\nYeah, you can take the take the address of the property for example and put the word trust after it so it\u2019s either a trust or an LLC. Same use.<br \/>\n47:11<br \/>\nExcellent. Thank you, OK. And then somebody was asking I know I think we got a couple of hands up here.<br \/>\n47:17<br \/>\nSomebody\u2019s asking, oh, OK, brokerage account. He\u2019s in a fight with them over the beneficiary. I put down is that my name? Comma, PMA, OK? So that\u2019s the name of your PMA. It\u2019s your name PMA, OK? Now remember when you do that, that PMA designation identifies a different, separate person.<br \/>\n47:34<br \/>\nAnd that\u2019s what they\u2019re having a problem with.<br \/>\n47:36<br \/>\nSo they they chose to put just my name, and don\u2019t understand the PMA. since I submitted the paper, which explains the PMA. I asked them to have their Attorneys look it over and compliance officer. Now I either leave as is or closed.<br \/>\n47:49<br \/>\nNo, you\u2019re OK.<br \/>\n47:50<br \/>\nRemember the articles that are on file with the State are binding on everyone. That is the whole purpose of publishing articles.<br \/>\n47:58<br \/>\nAll right, your articles are the law of the company.<br \/>\n48:01<br \/>\nThat\u2019s my way of saying it.<br \/>\n48:03<br \/>\nSo it is binding on them.<br \/>\n48:04<br \/>\nSo if they want to act upon you being the individual owner, and you\u2019re not, and you\u2019ve noticed them, and they do something that\u2019s contrary to your interests, they\u2019re liable.<br \/>\n48:15<br \/>\nBut just the same, I mean, I like to avoid controversy. So just as a matter, of course.<br \/>\n48:20<br \/>\nLike, let\u2019s say, as we approach that first year, I may send them a copy of the articles and say, hey, guys, just to update, you, just want to let you know, here\u2019s a copy of my articles.<br \/>\n48:28<br \/>\nI just filed my, my annual report for the year, and I just thought I\u2019d give you guys a copy for your records. You see, that way, it doesn\u2019t raise any?<br \/>\n48:36<br \/>\nNo questions like, Oh, what\u2019s new, Why are you doing this? Oh, you already told them why? Because you just thought you\u2019re supposed to do it, You\u2019re just being a nice guy, and they\u2019re like, OK, fine.<br \/>\n48:44<br \/>\nThey should, they shouldn\u2019t look at it.<br \/>\n48:46<br \/>\nSo what that does is it gives them the official record, gives them proper notice, and you do it in a way that doesn\u2019t make them have to examine anything.<br \/>\n48:54<br \/>\nI\u2019d rather not get the attorneys involved.<br \/>\n48:58<br \/>\nAnd someone wants me to summarize, revenue procedure 2019, 24, and what was that about? I just did a whole video on that.<br \/>\n49:06<br \/>\nAnd it just flip my mind, like, what the heck was I talking about?<br \/>\n49:11<br \/>\nI\u2019ll remember in a second. I\u2019m sorry.<br \/>\n49:13<br \/>\nI\u2019ll get back to that. Oh. And so, you asked me about the trust, OK? Yeah, so, I think I covered that, Alex, right? The trust.<br \/>\n49:20<br \/>\nSo we got that, right? Yup. They won\u2019t forget you, OK, cool.<br \/>\n49:23<br \/>\nAlright, and walk through video for setting up an account with Chase. Hm, Hm. Yeah, OK. Gosh, that\u2019s intimidating. Um, maybe if you pay me enough, I\u2019ll do that.<br \/>\n49:35<br \/>\nKnow, if somebody were to do that, I probably buy the video from you if you are. I\u2019m actually trying to say, I don\u2019t want to do it.<br \/>\n49:41<br \/>\nIf somebody would go and open an account at Chase and go through all the steps and make an a video recording of it, I\u2019ll buy it from you.<br \/>\n49:49<br \/>\nAnd then, if you\u2019ll let me use it, is that OK?<br \/>\n49:53<br \/>\nIf anybody does that, I mean, some of you have been really nice to help me out, and you\u2019ve done documents like that for me, and just sent to me.<br \/>\n50:00<br \/>\nAnd I just so much appreciate that, but I\u2019m more than happy to pay for it.<br \/>\n50:03<br \/>\nSo, to get any ideas, let me know an uncooperative cessation which does private, based on his own ricarda false extra, OK, A tax return is required to be filed when a tax return is filed, that creates the duty to file. I don\u2019t know where there\u2019s any other duty to file.<br \/>\n50:23<br \/>\nNow, you\u2019ve heard me say about C Corp.<br \/>\n50:25<br \/>\nI happen to believe that a C corp is a C corp because it file a tax return, claiming it\u2019s a C corp.<br \/>\n50:32<br \/>\nThat\u2019s why it has to file.<br \/>\n50:34<br \/>\nJust like an S corp.<br \/>\n50:35<br \/>\nS corp is an LLC, that files a form 2, 5, 5, 5, so in order to get the S Corp classification, you actually have to file a tax return.<br \/>\n50:44<br \/>\nSo that\u2019s why I say once you file that return, there\u2019s going to be the presumption that you have to keep on filing, OK?<br \/>\n50:51<br \/>\nSo it\u2019s up to you, I mean, an unincorporated association.<br \/>\n50:54<br \/>\nI mean, what about mm?<br \/>\n50:57<br \/>\nYou hire a babysitter to give her a 1099.<br \/>\n50:59<br \/>\nGive him 1099 W two.<br \/>\n51:03<br \/>\nI mean, you could it\u2019s kinda silly, I mean, maybe.<br \/>\n51:06<br \/>\nBut an unincorporated association, I mean, we\u2019re we\u2019re part of many unincorporated associations. Your neighbors are part of the association. Your family is part of a different association. All the people in your neighborhood that had blue cars, are part of that association. Everybody who\u2019s right handed, it goes on and on and on.<br \/>\n51:21<br \/>\nSo the IRS does not care about unincorporated associations, but if it files a return, you file a return with the IRS. And you say this is an unincorporated association is earned this much money this year. The IRS will say thank you very much, and check to make sure that your tax treatment is correct.<br \/>\n51:39<br \/>\nIt\u2019s up to you.<br \/>\n51:40<br \/>\nThat\u2019s my answer.<br \/>\n51:42<br \/>\nAnd active in good standing. Yeah, I think you can use those terms.<br \/>\n51:46<br \/>\nInterchangeably. active means that everyone in the world will recognize it according to the official government records as a thing, a person that\u2019s in good standing.<br \/>\n51:55<br \/>\nAll right, and let\u2019s see. Oh, good. Kill them brown, OK, super great.<br \/>\n51:58<br \/>\nBrick and mortar banks, I was, for 1, 1 for two would open them. Yeah, so it\u2019s hit or miss with the banks.<br \/>\n52:05<br \/>\nYeah, they all say we don\u2019t know about \u2026, but so what? They\u2019re not supposed to look at PMS. That\u2019s why I gave you these documents. OK, I give you the BSA Bank Secrecy Act memorandum. I just made that up complaints memorandum and there\u2019s a brief in there that I didn\u2019t write.<br \/>\n52:18<br \/>\nIt came from some attorneys, and it just explains that the banks have no legal duty to look into the PMA.<br \/>\n52:24<br \/>\nif it\u2019s an unincorporated unregistered association, but they do anyways.<br \/>\n52:30<br \/>\nThey think that a human being has to be the owner of the company, so I guess it\u2019s just a you know, it\u2019s up to us. How do we communicate with people? Really, it\u2019s testing our ability to do that.<br \/>\n52:39<br \/>\nSo far, we\u2019re doing OK, I mean, there is some difficulty out there, but we\u2019re getting past it.<br \/>\n52:46<br \/>\nIf I can\u2019t get them to change the ownership, what a workaround by adding another entity?<br \/>\n52:50<br \/>\nI mean, you can change the ownership if you want.<br \/>\n52:54<br \/>\nI mean, it. Here\u2019s what we here\u2019s what we do. If I just feel like the client\u2019s, he\u2019s frustrated. So I\u2019m just I\u2019ll just tell them this. Just tell them, you\u2019re the owner.<br \/>\n53:03<br \/>\nJust tell him you\u2019re the owner.<br \/>\n53:05<br \/>\nAnd don\u2019t change anything. Keep your PMS the owner. And they\u2019ll go on that.<br \/>\n53:09<br \/>\nThey almost never look at the state and get a state record and say, Oh, you haven\u2019t changed the state record yet, they just take your word for it.<br \/>\n53:18<br \/>\nThat is another option.<br \/>\n53:20<br \/>\nI don\u2019t like that one, but sometimes it\u2019s worth just moving on with your thing.<br \/>\n53:27<br \/>\nI\u2019m an LLC already set up and trading, Kayla and Brown Do not understand how I\u2019m going to defer taxes using, but instead of a trust, OK, OK, So how do I defer taxes with an LLC or with a trust?<br \/>\n53:39<br \/>\nYou defer taxes by not choosing to make that trust or LLC the destination of where the money is going, the destination meeting, the final place where you\u2019re going to go and tell the IRS, OK, here we have gains. Here\u2019s my balance sheet or my tax return.<br \/>\n53:55<br \/>\nHere\u2019s the money I owe for the tax rate based upon what I\u2019m filing.<br \/>\n54:00<br \/>\nIf you choose not to do that, that is also fine.<br \/>\n54:04<br \/>\nSo you have an LLC or trust. Just don\u2019t file a return for it.<br \/>\n54:09<br \/>\nMake sure that any tax payer, that gets money from it and including yourself if you\u2019re filing 1040, if you\u2019ve got, if you\u2019ve ever follow 10, 40.<br \/>\n54:15<br \/>\nMake sure that if you get money from that LLC and it\u2019s not for the LLCs purposes that you record that included as on your 1040 that that\u2019s it. It\u2019s as simple as that.<br \/>\n54:29<br \/>\nNow, you think, Gosh, why is John the only person saying that?<br \/>\n54:31<br \/>\nMaybe I am the only person saying that, I didn\u2019t understand this either until I started looking at the problem, and I, I looked at the accounting, and I looked at the tax code.<br \/>\n54:42<br \/>\nI sat through many audits with the IRS agents. I talked to them privately.<br \/>\n54:46<br \/>\nI talked to other people over the years, and I came to the conclusion that the tax liability comes from filing a return.<br \/>\n54:54<br \/>\nI can tell you why. I think that we\u2019ve got lots of stories and that you guys have probably heard them before.<br \/>\n54:58<br \/>\nSo other people should be talking like this. I\u2019m not saying you shouldn\u2019t file tax returns.<br \/>\n55:03<br \/>\nI\u2019m just saying, why would you create a tax side? Doesn\u2019t mean you don\u2019t have one.<br \/>\n55:06<br \/>\nWhy would you jointly file a tax return with your brother who has no interest in what you do, who lives in another city?<br \/>\n55:16<br \/>\nThen also, include on that joint tax return, your neighbor, When would anyone ever end up in that situation? When is there ever need to do that? There isn\u2019t.<br \/>\n55:26<br \/>\nSo that\u2019s what we\u2019re doing. We\u2019re creating a person that can handle money that doesn\u2019t have a tax liability until the owners of that person decide to file a report it in a certain way.<br \/>\n55:38<br \/>\nYeah, and there\u2019s another thing about Killen Brown.<br \/>\n55:41<br \/>\nSo, this is kind of new, and maybe I\u2019m misunderstanding what\u2019s going on here, but, with killam at Brown, yeah, they want a notarized copy of the articles. That is fine, I mean.<br \/>\n55:53<br \/>\nOK, of the articles, that I give you, OK, so I give you what are called the banking abstract documents. Yeah, where you have to sign those. You want, They want those notarized. Now, here\u2019s the difference.<br \/>\n56:05<br \/>\nThey\u2019re being nice to us. They could require us to go through our embassy and get what\u2019s called an apostate deal, on a legal document to use in a foreign jurisdiction. That\u2019s what, that\u2019s what it\u2019s for. And that would be expensive and time consuming, OK? Killam Brown is not asking us for that. All they want is an officer of the court where we live to witness our signature on a document that we\u2019re signing.<br \/>\n56:26<br \/>\nThe articles that come from the state, OK, that we have where we send you when we give your final documents.<br \/>\n56:31<br \/>\nAnd you have the stamp from the state That I don\u2019t believe you can notarized that because you\u2019re not signing it.<br \/>\n56:37<br \/>\nThere\u2019s nothing to witness there, and if you know, dries it, you\u2019re changing the certificate status of that document.<br \/>\n56:44<br \/>\nNow, they do accept a copy of the certificate of, of articles, OK? A copy of this certified copy.<br \/>\n56:52<br \/>\nThat is another gray area, But that\u2019s on them. If they want to do that, then that\u2019s fine. But officially, we\u2019re supposed to send an actual certified copy of the articles, and that would be on paper.<br \/>\n57:02<br \/>\nAnd it would have a seal or embossing stamp on there, or a crimped page, and then that would be the document we\u2019d send a very special way. So thankfully, they\u2019re not asking us to do that.<br \/>\n57:11<br \/>\nSo I want to explain that the legal aspect of how that\u2019s supposed to be done and how they are doing it, So there shouldn\u2019t be any problem with any document that you\u2019re going to be signing to have that notarized.<br \/>\n57:22<br \/>\nIf it\u2019s a certificate from a government, I don\u2019t see how you can notarized that. And I don\u2019t think that\u2019s what they\u2019re asking.<br \/>\n57:29<br \/>\nSo let me know if I\u2019m wrong on that one.<br \/>\n57:33<br \/>\nYep, and then Process start with Gemini. Right. Yes, so Geminis asking Tech questions, I don\u2019t know about the tech questions.<br \/>\n57:39<br \/>\nIf there are technical regarding law or the document you\u2019re using, like your LLC documents or something, I can, I can help you with that?<br \/>\n57:50<br \/>\nAgain, they\u2019re going to do the same thing that banks are doing, but they\u2019re going to do some other things, like, they\u2019re gonna ask you, OK, what\u2019s the source of wealth? And so the general answer is that it\u2019s my savings, my personal savings, and my my income for my job. And I\u2019m just allocating some of that money over for investment investment purposes.<br \/>\n58:06<br \/>\nHere\u2019s what you want to avoid, implying that you are collecting money from your friends and family and you\u2019re pulling it together and using Gemini to do that.<br \/>\n58:17<br \/>\nThat is a no-no. You can have a big problems. They won\u2019t open the account. Then, if you tell them that, they\u2019ll make you get a money transmitter licenses. And trust me. You do not want to go down that road.<br \/>\n58:25<br \/>\nSo just be careful about how we talk to these people. Just, you know, I don\u2019t care if you are using your family\u2019s money, and your brother says, Hey, invest my crypto money for me. You can do that, but just don\u2019t tell them, you\u2019re doing that. Don\u2019t tell anyone you\u2019re doing that.<br \/>\n58:39<br \/>\nI hope that answers what you, What you asked here. Blackrock is a fed puppet. Yeah, of course. It is. I mean, that\u2019s, yeah, I wonder, what else is out there? The \u2026, just using one company has got to be more.<br \/>\n58:51<br \/>\nI wonder if the drug companies are owning them.<br \/>\n58:54<br \/>\nAn additional signer, OK? So on the banking banking abstract documents I give you, you\u2019ll see there\u2019s a, what\u2019s called a Banking Resolution.<br \/>\n59:01<br \/>\nThis is a formal document that says, this company authorizes this individual to be a signer for the company, and yeah, you\u2019re signing for yourself.<br \/>\n59:09<br \/>\nYou\u2019re signing as the vice president or managing member, and you\u2019re signing as the authorized signer. You know, a one member LLC, right? Or signer for a single member or double member LLC. You can do all that. They\u2019ll accept all that. So it\u2019s the banking resolution document. So if you want to add a signer, or an authorized user, you do not have to modify the articles. Now, you can if you want.<br \/>\n59:31<br \/>\nAll you would do is take my document.<br \/>\n59:33<br \/>\nThis is why I give you the ODT version, leiber office, you can open this, save it as a new filename, replace your name with the new signers name, and save that in your records. And then print that out and do whatever the bank wants. Maybe the bank wants it. notarized sign, whatever.<br \/>\n59:49<br \/>\nAnd then that document goes along with whatever else The bank wants, some ID or something, and then you\u2019ll you\u2019ll add an authorized user.<br \/>\n59:55<br \/>\nNo problem. And, by the way, you don\u2019t need an authorized user.<br \/>\n59:58<br \/>\nI mean, most of the time, you don\u2019t.<br \/>\n1:00:00<br \/>\nFor myself, usually my wife signs for things. I\u2019m sometimes, I have a partner sign for things.<br \/>\n1:00:06<br \/>\nI\u2019ve been lucky where I have, you know, trust relationships with people.<br \/>\n1:00:10<br \/>\nI mean, hopefully have those things, I\u2019ve really never had a problem with things like that over the years.<br \/>\n1:00:15<br \/>\nSo, it\u2019s not that you need that, but let\u2019s say you can\u2019t trust anybody, right?<br \/>\n1:00:20<br \/>\nAnd hopefully you maybe you want to leave some your wealth for your children, and maybe they\u2019re not in on it so much.<br \/>\n1:00:28<br \/>\nSo, hopefully, they have some education about wealth, or how to acquire it, or whatever, and you leave the credentials available to them, so that when you lose your mind, or get lost at sea or something, and they want to go access that. They know where to go to get the credentials. They know what to do, or can get help to to, to do that. And, then, whatever you want to happen happens. Now, you can document this in a book.<br \/>\n1:00:50<br \/>\nAnd the reason why I say things like this is because, I\u2019m always inclined to recommend that people stay out of a situation where that wealth would be pulled into a probate process.<br \/>\n1:01:00<br \/>\nYou really don\u2019t want to go there, so that way, if that\u2019s not part of your state, you\u2019re already ahead of the game.<br \/>\n1:01:07<br \/>\nYou should still have a will, in my opinion, but your will expresses what\u2019s in your state and what should be done with it.<br \/>\n1:01:14<br \/>\nAnd I think your wheels should be have nothing important in it.<br \/>\n1:01:19<br \/>\nMaybe it should cover something that you never thought of, that after you die, someone discovered, and all of a sudden it\u2019s part of your State. And now you have an estate surprise, and your will already handles that.<br \/>\n1:01:28<br \/>\nSo something to think about there.<br \/>\n1:01:30<br \/>\nOn the PMA I am I\u2019d like to use that if the client is suitable for what he wants to do to develop out an estate plan.<br \/>\n1:01:39<br \/>\nNow I\u2019m not an estate planner, and I just even really hate using that term, but I want people to have somewhat of a, um, like what I actually, I\u2019m doing, is, I\u2019m kinda copying things I\u2019ve developed from my family over the years.<br \/>\n1:01:51<br \/>\nI don\u2019t really like saying that, but, and that\u2019s really what I\u2019m doing, because so far, it\u2019s worked really well, and everybody likes it. Everyone in my family. They understand what\u2019s going on.<br \/>\n1:01:59<br \/>\nI have my own philosophy on how to no leave things behind, if, you know. That\u2019s my plan anyways.<br \/>\n1:02:04<br \/>\nSo I\u2019ll share that with you, but, um, the PMA can be used as a way to document what you want to have happen to this particular wealth. That is not in your State. So the PMA acts as its own state.<br \/>\n1:02:19<br \/>\nAll right? That doesn\u2019t go too far. So I have to like file pilot with the state.<br \/>\n1:02:28<br \/>\nNo. Not just, Oh, yeah, don\u2019t do that. No, no, never. It\u2019s all private.<br \/>\n1:02:32<br \/>\nSo you want to keep it in your private personal records in your vault, but I should want to, the banks, too to add, to let them know, never. Never. Never. Never. Never showed that to the bank. None of their business. Don\u2019t show it to the bank.<br \/>\n1:02:48<br \/>\nYou control everything, you\u2019re using the bank as a service provider, Your bank, the bank you are using for your company, should be seen as an employee.<br \/>\n1:02:57<br \/>\nSo you wouldn\u2019t tell that to your employee.<br \/>\n1:03:00<br \/>\nSo you would never want to tell that to the bank.<br \/>\n1:03:02<br \/>\nThey want you to tell them OK. Fine. Like, for example, like, like, write a check or something like that.<br \/>\n1:03:12<br \/>\nSo the other person could sign, yes.<br \/>\n1:03:16<br \/>\nSo what you do is, let us say, I vanished.<br \/>\n1:03:19<br \/>\nAliens abducted me.<br \/>\n1:03:21<br \/>\nAnd so my wife is like, hmm, hmm, hmm, wow, I guess I need some of the money.<br \/>\n1:03:26<br \/>\nSo, let\u2019s see what he did.<br \/>\n1:03:28<br \/>\nSo she\u2019s gonna go to this place that she knows to go to, and I\u2019m speaking generally, and she\u2019s going to then go to another place, And she\u2019s gonna get the information.<br \/>\n1:03:37<br \/>\nAnd then she\u2019s gonna go get a blank check.<br \/>\n1:03:43<br \/>\nAnd she\u2019s going to write a check for whatever amount of money she wants, whatever she. Because she can login to the account on the internet, for example, it\u2019s a bank account. And she could see what money\u2019s there. And so she can write a check on that account. And she could send the check similar to pay for something. She can also deposit the funds somewhere.<br \/>\n1:03:58<br \/>\nSo she can write a check on the account that I\u2019m the signer for, even though she\u2019s not the signer.<br \/>\n1:04:04<br \/>\nNow, if she walks in the bank, not going to work, If she walks in the bank and tries to do it, something like that, the banks can say, Well, you need a probate order from the judge.<br \/>\n1:04:12<br \/>\nAnd they\u2019re right, but don\u2019t ever do that.<br \/>\n1:04:16<br \/>\nOK, Manager Affairs\u2019 outside of the bank.<br \/>\n1:04:21<br \/>\nRight, can I ask another question? Yes, your LLC like, is it better to have to allocate one LLC\u2019s for like the capital gains?<br \/>\n1:04:29<br \/>\nLLCs like four just like Business Income.<br \/>\n1:04:33<br \/>\nIt\u2019s a separate Yeah, I would separate them that way. Yeah.<br \/>\n1:04:36<br \/>\nFor a business, I would separate from an investment portfolio, OK, Makes sense, You don\u2019t have to, but it\u2019s probably a good idea.<br \/>\n1:04:43<br \/>\nYeah. Especially with the business I get from, let\u2019s say you have your, your investment portfolio in your LLC, and then you\u2019re running your business on your LLC, would it be prudent to take on an equity partner.<br \/>\n1:04:55<br \/>\nNow, because you got all your net worth it, you know, he does no interest in, right.<br \/>\n1:04:59<br \/>\nSo you want to isolate that so that way it frees you up to do other deals with other parties, loans, like contracts, things like that. I\u2019m not tying up my other thing that I really care about over here.<br \/>\n1:05:08<br \/>\nSo, separated out, give me, go to some sure, Sam, and go to Janet.<br \/>\n1:05:16<br \/>\nHi, John. Hello.<br \/>\n1:05:18<br \/>\nHey, I am, just happy couple questions about the determination request.<br \/>\n1:05:27<br \/>\nYeah, so I know it\u2019s a little off topic, but, um, I know, you don\u2019t like CPA\u2019s, but, this all makes me so nervous, and I\u2019ve, I\u2019ve used one for years, so, and I like him, OK.<br \/>\n1:05:42<br \/>\nAnd so, he wanted to put the erroneous 10 99, into the tax return, and then back it out. And I guess there\u2019s a place for that.<br \/>\n1:05:54<br \/>\nUm, and then, I don\u2019t know if that\u2019s OK, or if I need to do something different.<br \/>\n1:06:02<br \/>\nThen, I haven\u2019t filed my tax return yet, because I had filed an extension, and I don\u2019t know if I need to file it first, and then send that with my determination request, or if I need to send the request before I make, OK.<br \/>\n1:06:23<br \/>\nHopefully, it\u2019ll probably work that way, but I would be leery of it just because CPA\u2019s just want you to do what they want you to do, and they\u2019ll tell you anything. I\u2019m sorry, I\u2019m so biased guys, but they will just tell you to do anything. They\u2019ll say they\u2019ll explain in any way, just so you\u2019ll do it.<br \/>\n1:06:39<br \/>\nThen whatever happens.<br \/>\n1:06:41<br \/>\nThey just say, well, I don\u2019t know I can help you there, because they\u2019re not liable for anything.<br \/>\n1:06:45<br \/>\nSo, Rob, what I\u2019ve found to be successful is we file the tax return else for some people, they haven\u2019t felt like you got an extension, So you prepare the return, and you make a copy of the return. You don\u2019t even have to sign it.<br \/>\n1:06:59<br \/>\nYou just make a copy of the return. And then there, you take your 299, and you do the Request for Determination Letter, and you send all that into the Secretary of the Treasury.<br \/>\n1:07:07<br \/>\nThen, that\u2019s enough.<br \/>\n1:07:10<br \/>\nThen you could literally file your return and not include 1099 from the beginning.<br \/>\n1:07:14<br \/>\nIf the IRS has a problem with that, they\u2019ll send you a notice about something, they\u2019ll say Underreporting or something like that.<br \/>\n1:07:22<br \/>\nAnd I\u2019ve never seen that. I\u2019ve done.<br \/>\n1:07:26<br \/>\nMany of those, I haven\u2019t seen that.<br \/>\n1:07:29<br \/>\nI mean, they\u2019ve always told the times they did write back, they don\u2019t always write back, but the times they did. The IRS races, cryptic response. It\u2019s almost the same Every time it says.<br \/>\n1:07:38<br \/>\nwe reviewed your request and advise you to take no further action.<br \/>\n1:07:43<br \/>\nWhich means OK, because I told them, I\u2019m not including 1099, and they basically said, OK, I just think it\u2019s easy that way. Now, I\u2019ll say something else, too, for 10, 99th.<br \/>\n1:07:54<br \/>\nI\u2019ve done, I\u2019ve literally handled close to 30,000 debt collections since the nineties, OK?<br \/>\n1:08:01<br \/>\nAnd in almost every one of those situations, the client is getting 1099 for not having paid his credit card debt.<br \/>\n1:08:08<br \/>\nAnd in every situation, and I didn\u2019t know how to do this in the nineties, and I literally, I did talk to CPA, and he did explain this to me, and this is how I learned.<br \/>\n1:08:17<br \/>\nI did learn this from a CPA, but we excluded the 1099 every single time, thousands of times and never never have my client ever had a problem with the IRS. They never came back and said you unreported.<br \/>\n1:08:30<br \/>\nNow, I did have one guy that was just terrified and he went and Googled stuff on the Internet. And he actually fill out a form.<br \/>\n1:08:38<br \/>\nThere is a form for this.<br \/>\n1:08:39<br \/>\nI forget what you call it, but it goes with 1099 and it\u2019s for imputed income taxes and then I think he sent that in with his 299.<br \/>\n1:08:49<br \/>\nAnd that was accepted that way, So he wasn\u2019t held for the imputed income tax. He still got out of the tax on it.<br \/>\n1:08:59<br \/>\nSo I think there are different ways to do it. I\u2019m just so biased towards CPAs. I\u2019ve just seen the mess people over so many years.<br \/>\n1:09:07<br \/>\nI\u2019m not saying your C P. Is going to do is plug into perfect job for you.<br \/>\n1:09:10<br \/>\nThat\u2019s just my, Well, he he.<br \/>\n1:09:11<br \/>\nHe added it in there, and then hey, shows where he takes it back out, so, and he knows that I\u2019m doing this later. I showed it to him, So he\u2019s curious about it, So we\u2019ll see how that goes. But all right.<br \/>\n1:09:26<br \/>\nAnd then then so I can send that without having fouled the taxes in China until 10 if I get a response back from them and then file the taxes will follow for your deadline. But yeah.<br \/>\n1:09:44<br \/>\nI mean, in my standard form letter, I have mentioned that I\u2019m sending a copy of my 1040, just just to be complete. So, yeah, but just make sure. Yeah.<br \/>\n1:09:54<br \/>\nYeah. I mean, you don\u2019t have to have files written for you. Just send a copy of what you are filing, OK? Yeah, OK. All right. Good. And I\u2019ve got everything and then I also need to send one to the original.<br \/>\n1:10:05<br \/>\nCreator of the 10 99 which was Celsius. Now, you don\u2019t have to tell them anything.<br \/>\n1:10:10<br \/>\nI just wonder if you\u2019re including the 10 99, and you\u2019re still going to ask for determination letter.<br \/>\n1:10:15<br \/>\nI just have to amend the letter, so that we\u2019re saying that we\u2019re including it.<br \/>\n1:10:20<br \/>\nChange. That\u2019s OK. I have to change the wording a little bit.<br \/>\n1:10:23<br \/>\nOK, well, OK, all right.<br \/>\n1:10:27<br \/>\nAlways looking to learn new stuff, So, Yeah.<br \/>\n1:10:32<br \/>\nAll right. Thank you. Sure. All right.<br \/>\n1:10:36<br \/>\nLet\u2019s go to Shem, please.<br \/>\n1:10:41<br \/>\nHey, John.<br \/>\n1:10:42<br \/>\nI got a letter from Bank of America, this past week, some money, services, form, money services, businesses form. And so, what I did is, I took your letterhead idea.<br \/>\n1:10:55<br \/>\nYou did the last time filled it out and said it references this Money Services built business form, and I just sent them a copy of the articles, the signed articles, You know? Yes.<br \/>\n1:11:07<br \/>\nAnd I\u2019m hoping that that satisfies them if you ever come up. That\u2019s pretty good. That\u2019s a good, That\u2019s a good response. Back, yeah, because, yeah. It goes right to my definition of the articles.<br \/>\n1:11:20<br \/>\nare the law, the company, so if you guys can understand the articles and you\u2019re an international multi-billion dollar bank, can\u2019t help you there.<br \/>\n1:11:27<br \/>\nYeah, because I, in the top of the letter, I put, you know, I\u2019m investing in real estate personally and I\u2019m using personal savings. And that\u2019s it. And I say, here\u2019s the articles, I like that.<br \/>\n1:11:37<br \/>\nFor everyone listening, who\u2019s going to hear this?<br \/>\n1:11:40<br \/>\nI like that response, and, I\u2019m just, I\u2019m gonna look this up, I\u2019ll say something here, but, um, Make no mistake.<br \/>\n1:11:47<br \/>\nThe banks tried to create liabilities for people and people will say things are not supposed to You, did perfectly.<br \/>\n1:11:53<br \/>\nYou send the articles, So, you have to talk, Hey, my articles do all the talking for me. I\u2019m not going to fill out your form. If you start filling out forms that you\u2019re just given without understanding what you\u2019re doing, you probably shouldn\u2019t be doing many ways.<br \/>\n1:12:03<br \/>\nIf you\u2019re not going out to look for the form to fill it out and someone\u2019s giving you a form probably shouldn\u2019t be filling that form out because someone\u2019s giving it to you, especially here.<br \/>\n1:12:12<br \/>\nIf he participates in this conversation, they will pull him into a situation where he\u2019s going to have to give them money.<br \/>\n1:12:19<br \/>\nTransmitter license or FinCEN is going to be on his **** and he\u2019ll, he\u2019ll have years of problems with the IRS.<br \/>\n1:12:29<br \/>\neight pages long, that form. What\u2019s it called? Let me look it up our services business activities.<br \/>\n1:12:38<br \/>\nMSP activities.<br \/>\n1:12:42<br \/>\nIt doesn\u2019t have an OMB number on it.<br \/>\n1:12:45<br \/>\nHmm.<br \/>\n1:12:46<br \/>\nHmm.<br \/>\n1:12:49<br \/>\nThere was just a letterhead that they sat with that in first paragraph. That was it.<br \/>\n1:12:56<br \/>\nI have one here, Suspicious Activity Report Money Services businesses, OK, that\u2019s a FinCEN. It\u2019s six pages. It\u2019s got an OMB. So so that\u2019s their document.<br \/>\n1:13:05<br \/>\nYeah. And all I did was fund the bank account with $200 out of my debit card. You know, they\u2019re either dumb, or they\u2019re dumb, or they are trying to trap you into a situation. And just one other quick question. Please, John, I\u2019m running a consultancy business and I\u2019m putting anything I make into into the LLC.<br \/>\n1:13:31<br \/>\nIs that going to be all right? Or should I create something else to put the money into, before I put it into the LLC, because I\u2019m not have insurance. You go straight to the LLC. I mean, that has already means of indemnification So you don\u2019t need a layer.<br \/>\n1:13:45<br \/>\nYou almost never need to layer, Yeah.<br \/>\n1:13:47<br \/>\nPerfect. Thank you very much. Appreciate, OK, yeah. I\u2019m glad I\u2019m glad you brought that up. I don\u2019t see it here, but I would love to see that document, and I would like to find, I\u2019m not going to spend time to it, but I will do this. I search Spend Money Service business. I go to the FinCEN dot gov website.<br \/>\n1:14:02<br \/>\nAnd here\u2019s let me just tell you what it says. You guys can do this, too.<br \/>\n1:14:07<br \/>\nThe term money.<br \/>\n1:14:10<br \/>\nHmm.<br \/>\n1:14:14<br \/>\nRight here, the term money services includes a person doing business whether or not on a regular basis, as an organized business concern in one or more of the following currency dealer. Is that what you\u2019re doing confess infest Now? Are you a check casher or your issue or traveler checks redeemer of traveler\u2019s checks? Are you a money transmitter?<br \/>\n1:14:35<br \/>\nAre you, the US. Postal Service, now come on.<br \/>\n1:14:38<br \/>\nConfess, we know you\u2019re delivering other people\u2019s mail.<br \/>\n1:14:42<br \/>\nAn activity threshold, a greater than a thousand dollars per person per day in one or more transactions applies to the definition of currency dealer.<br \/>\n1:14:49<br \/>\nYou do not want to be in this classification, guys.<br \/>\n1:14:53<br \/>\nThat\u2019s why have you do these forms a certain way.<br \/>\n1:14:55<br \/>\nAnd also when you apply for things, we\u2019re be very careful about, you know, there are always trying to detect if someone\u2019s doing this.<br \/>\n1:15:03<br \/>\nSo.<br \/>\n1:15:07<br \/>\nGlad you brought that up. Alright, I\u2019m not ignoring y\u2019all. I know you get your hands up and everything I\u2019m trying to get everybody. And Frank, thanks for.<br \/>\n1:15:13<br \/>\nThanks for your patience, Frank I just got a note from my assistant. She\u2019s got everything set up.<br \/>\n1:15:19<br \/>\nOK, I just want just real quick, John, so I\u2019ve got price targets on these kryptos, and when I I\u2019m going to try to You know, cashed out at certain points here, but um, I would like to maybe moves Move into a stable coin and Trotta go to, you know, one of these.<br \/>\n1:15:46<br \/>\none of these, the centralized Finance places that you know, you can lend your coins out and make interest on I\u2019m kinda thing.<br \/>\n1:15:53<br \/>\nSo um, if I were to open an account with like a celcius or an exo, if I mean I guess I\u2019m assuming I would have to do that Also open the account in the name of the LLC. Transfer the coins too.<br \/>\n1:16:08<br \/>\nCelcius and What I\u2019m getting at is the interest that I earn on those coins if it\u2019s in the account if an account of the LLC would that also be a way to avoid paying taxes on that income.<br \/>\n1:16:23<br \/>\nYeah, I recommend it. That is the simplest, cleanest way to avoid any question.<br \/>\n1:16:26<br \/>\nUse your LLC as the account holder and it has all the liability, but also realize sometimes these companies are paying out interest in kryptos and so that\u2019s not taxable.<br \/>\n1:16:39<br \/>\nIt\u2019s just, your kryptos are worth more now.<br \/>\n1:16:41<br \/>\nIt\u2019s still not a taxable thing, and they\u2019re calling it interest, but, yeah, but it\u2019s not really taxable interest, but to avoid all the drama.<br \/>\n1:16:49<br \/>\nYeah, Use an LLC, OK, and so if it\u2019s in my personal name, or will they are they going to 1099 me, though?<br \/>\n1:16:59<br \/>\nKnow, make sure that\u2019s why you do the \u2026<br \/>\n1:17:00<br \/>\nand make sure your account holders the LLC and that the other party has the EIN and to nail it, Kim, the W nine.<br \/>\n1:17:08<br \/>\nI\u2019ve never had a problem doing it that way, OK. And by the way, you\u2019re going to find out the 1099 is going to be erroneous anyway, so you can choose to ignore it.<br \/>\n1:17:17<br \/>\nGotcha.<br \/>\n1:17:18<br \/>\nYes, OK.<br \/>\n1:17:19<br \/>\nThank you, man, Appreciate it.<br \/>\n1:17:21<br \/>\nAlright, all right, OK, don\u2019t go to, let\u2019s see, I want to try to make sure I get remember is there, OK Jean?<br \/>\n1:17:29<br \/>\nHi, can you hear me?<br \/>\n1:17:31<br \/>\nOK my question is: Coincide investing.<br \/>\n1:17:38<br \/>\nPresume that at some point I will be taking profits, how do I avoid taxation, move money, back to.<br \/>\n1:17:50<br \/>\nName that I have here is also LLC, OK, just make sure your LLC is the account holder.<br \/>\n1:17:57<br \/>\nWherever you\u2019re moving the money and then the LLC has the liability, not you.<br \/>\n1:18:02<br \/>\nAnd then don\u2019t follow return for the LLC except any money you pay yourself, OK, How about buying a piece of property? Once we get the money?<br \/>\n1:18:12<br \/>\nSpend the money from the LLC, and when you take title, don\u2019t use your name to take the title.<br \/>\n1:18:17<br \/>\nUse another company, or a trust, or a third party, some other name when you take title.<br \/>\n1:18:23<br \/>\nNow, there\u2019s, there\u2019s a reality there, because sometimes you\u2019ll be in a mortgage situation, so if you, if you get a mortgage, it\u2019s probably easier to closing your name, just conveyed out of your name afterwards and not planning on having important, OK, yeah, so it\u2019s easier. Just pay cash of the thing and don\u2019t take title in your name.<br \/>\n1:18:40<br \/>\nSay that one more time.<br \/>\n1:18:42<br \/>\nPay cash or what it is, Once you sell your coins to the LLC, you wire the money to the LLC.<br \/>\n1:18:47<br \/>\nHave the LLCs. Send the money to your escrow agent when you\u2019re going to go to the closing for the real estate.<br \/>\n1:18:55<br \/>\nWhen you take the title, make sure the contract isn\u2019t the name of a new LLC or that same one if you want to use the same one.<br \/>\n1:19:01<br \/>\nJust make sure it\u2019s not in your name.<br \/>\n1:19:04<br \/>\nI\u2019m not going to avoid taxes that we\u2019ll avoid income tax, yes, that will. What that does is it creates a record of money that\u2019s moving around yourself.<br \/>\n1:19:16<br \/>\nAnd it never comes to you as a game.<br \/>\n1:19:18<br \/>\nNow, pretty much every CP is going to disagree with that.<br \/>\n1:19:20<br \/>\nBut I\u2019ve never had a problem doing it that way.<br \/>\n1:19:23<br \/>\nNone of my clients have had a problem doing that way. In fact, actually. I probably learned it from some real estate investors.<br \/>\n1:19:28<br \/>\nI mean, we, I\u2019ve learned a lot of things from those guys over the years, and they\u2019ve never had a problem they did all the time.<br \/>\n1:19:34<br \/>\nI can explain why I have so many articles and things. If you want to see more information? I mean, just asked me by e-mail, I can send you more pretty soon. This helpdesk will probably have all that stuff there, too.<br \/>\n1:19:45<br \/>\nI wasn\u2019t also, do you need to be the LLC, now? We have set up to make sure they\u2019re set up.<br \/>\n1:19:52<br \/>\nYeah, we do that actually, when, when it\u2019s written up, we send it to you to make sure that we have your information correctly.<br \/>\n1:19:56<br \/>\nAnd then, if you have any questions, we answer those, and actually, we asked you to approve it.<br \/>\n1:20:02<br \/>\nIf, I mean, if very seldom do I have someone who has already written up his documents that asked me to review them, I will if you want me to, I just want.<br \/>\n1:20:11<br \/>\nYeah. And you almost can\u2019t mess it up? I mean, I have my own preferred way of doing things.<br \/>\n1:20:15<br \/>\nThe reason the way I write my documents is so that if my client is under a subpoena five years from now, he doesn\u2019t have to be concerned about what\u2019s in the document as long as he didn\u2019t make any substantial changes to it. Because it\u2019s written in a way, that will still establish that He is divested of exclusive rights over the property.<br \/>\n1:20:34<br \/>\nSo, no one\u2019s going to pierce that.<br \/>\n1:20:36<br \/>\nNo one\u2019s really going to get past how I\u2019ve written the contract.<br \/>\n1:20:40<br \/>\nBut you could probably get pretty close to that. The only thing I don\u2019t like of, those standard ones you get off the Internet, or the ones that have attorneys have written.<br \/>\n1:20:46<br \/>\nThey write a lot of things in there that allows other attorneys to pierce the corporate protection that you think you have.<br \/>\n1:20:54<br \/>\nSo I\u2019ve seen enough problems over the years, where I\u2019ve written my documents to avoid all that, but you can get by most people, unless you have an immediate problems with collections or something, or the IRS.<br \/>\n1:21:03<br \/>\nYou can get by with a single member LLC, with standard documents mm, hm, OK.<br \/>\n1:21:11<br \/>\nAlright, and dimitrov.<br \/>\n1:21:17<br \/>\nJacob\u2019s next OK, there you go. You got where you got me, John. Yes. OK First of all, I just clarified, kill them round about the notary, so I will tell you, they don\u2019t they don\u2019t need anything coming from the state. A notary public will suffice.<br \/>\n1:21:32<br \/>\nThey told me that I clarified OK, so it\u2019s probably the same as usual, Maybe I misunderstood him recently. So OK, cool.<br \/>\n1:21:38<br \/>\nYeah, so OK, number two. Are you saying to take a W nine to the bank that is linked with our LLC now or do we wait?<br \/>\n1:21:48<br \/>\nLet\u2019s say I take profit from Caleb and Brown, transfer it into the associated checking and then submitted that. Should we do that now? Sort of as a setup?<br \/>\n1:21:59<br \/>\nI would do it before December 31st, a month, before, a month, because number, Or something like that.<br \/>\n1:22:07<br \/>\nYeah, yeah, just last quarter, just because the whole purpose, again, is to make sure that any 1099 the account holder, may receive, are correct.<br \/>\n1:22:17<br \/>\nSo, you\u2019d never want to see your SSN with your LLC name on there on 1099.<br \/>\n1:22:23<br \/>\nOK, so, I\u2019ve just taken a filled out W nine and haven\u2019t put it, or whatever they do with it, OK.<br \/>\n1:22:31<br \/>\nAnother quick question, so, I make a million dollars from Calvin Brown. I have them send US dollars into my bank account.<br \/>\n1:22:38<br \/>\nNow, write a check from that bank account. Buy something cash, a little candle.<br \/>\n1:22:44<br \/>\nAlon trust and I\u2019m putting it in a land trust, OK, OK, Can I put myself as a beneficiary or will that red flag anything?<br \/>\n1:22:53<br \/>\nOh, that\u2019s fine. That\u2019s fine.<br \/>\n1:22:57<br \/>\nI know I don\u2019t see a problem with that. No, no, no, actually I don\u2019t see a problem with that. Just don\u2019t also be the grantor and the trustee. So in that case, the grand tour is going to be your LLC.<br \/>\n1:23:07<br \/>\ngrant, or OK, yeah, the trust or grand tour is going to be the LLC. That\u2019s the person reviewing the money. Yeah, yes, yes. And who do you have in mind for the trustee yourself?<br \/>\n1:23:18<br \/>\nOr somebody else.<br \/>\n1:23:19<br \/>\nTrustee, myself. My partner was not my husband, but you know we\u2019re not legally marry.<br \/>\n1:23:26<br \/>\nI would recommend against that OK, if if anything, what I would do is have my LLC be the trustee you can sign for it, Just make on paper the LLC the trustee if you have to if you don\u2019t have someone else. You can make the trustee.<br \/>\n1:23:39<br \/>\nIt\u2019s even better if you can have an adult child be the trustee for you, That\u2019s even way better.<br \/>\n1:23:46<br \/>\nAn adult child, OK, OK, but and I had this conversation frequently, um, even if you don\u2019t have a marriage license, mm, you, if you\u2019re a significant other or spouse or whatever, like my wife, we don\u2019t have a marriage license, we\u2019ve been married for 22 years or so, it\u2019s a mayoral community, right?<br \/>\n1:24:05<br \/>\nYou know you\u2019re living together so or I don\u2019t know, I mean, probably it is, So just as, just act as if it is because the rest of the world will, no matter what you call it.<br \/>\n1:24:16<br \/>\nSo, I refer to that for what, what I do for clients for all these protections.<br \/>\n1:24:21<br \/>\nI assume I act as if that is a mayoral community And with all due respect to how you want to call it, this is how you want to view it.<br \/>\n1:24:30<br \/>\nSo so for that, I wouldn\u2019t have him be the trustee, because it\u2019s still within the mailroom marital community.<br \/>\n1:24:39<br \/>\nAnd so there\u2019s really no separation.<br \/>\n1:24:41<br \/>\nThere\u2019s no trust relationship even though a marriage is a trust or this relationship is trust trusting, But legally, you want to have the beneficial party have the same interests as the trustee, I guess, is the way to say it touches. So, either the LLC will be the trustee or an adult child whomever, and then he and I can just be the beneficiaries correct? That\u2019s a great way to do it. I really think that\u2019s the best way to go, Yeah, that\u2019s how I would, I would have a lot of children, just one child. You don\u2019t need all of them.<br \/>\n1:25:12<br \/>\nI don\u2019t have children. That\u2019s why I\u2019m thinking someone you can trust, right? That\u2019s the whole view. Yes, absolutely. OK, OK, and last one, So how do oh, so let\u2019s say in these crazy times. I can\u2019t pay my credit card. OK, and I have a single member?<br \/>\n1:25:32<br \/>\nLLC, right now, I\u2019m the only one. How do I add someone else, so that the credit card stopped?<br \/>\n1:25:39<br \/>\nAgain, it\u2019s an LLC, will never be against your LLC, because it won\u2019t be the debtor.<br \/>\n1:25:45<br \/>\nAlevi could attach to your interest in the LLC, because your interest is 100% on, on record. So you simply amend the articles.<br \/>\n1:25:52<br \/>\nThat\u2019s why I say, it\u2019s the law, the company. Yeah, it protects you.<br \/>\n1:25:56<br \/>\nSo, you want people to see that you\u2019re not the only owner.<br \/>\n1:25:58<br \/>\nSo what status isn\u2019t, Well, what are?<br \/>\n1:26:01<br \/>\nOhio?<br \/>\n1:26:03<br \/>\nYes, yeah, so just file an amendment to the articles. There\u2019s little fee there, maybe $50 or something. Haha. Infectious, we\u2019re talking, I could probably find it right now. That\u2019s what I usually do.<br \/>\n1:26:13<br \/>\nSo I literally go online, I get Google or I use Duck Duck Go and I look for, let\u2019s say Ohio.<br \/>\n1:26:18<br \/>\nI\u2019m LLC.<br \/>\n1:26:21<br \/>\nAmend articles, and I usually fat file it.<br \/>\n1:26:24<br \/>\nPrepare it while we\u2019re talking on the phone, you know, if you guys you guys know if you talk to me, While we\u2019re yeah, you don\u2019t pay any money for it. It\u2019s free I mean the government has the form.<br \/>\n1:26:34<br \/>\nIf the government doesn\u2019t have the form, you can make one in about five minutes.<br \/>\n1:26:39<br \/>\nIt doesn\u2019t have to be a fancy, so.<br \/>\n1:26:42<br \/>\nSo I just add his name and just make him a member of the PMO, correct?<br \/>\n1:26:49<br \/>\nYeah, it\u2019s straightforward. PMA, the LLC forget the PMA.<br \/>\n1:26:52<br \/>\nSo if it\u2019s OK If the owners A PMA, you don\u2019t have to do anything to protect your interests because you have no interest, right? OK. If you are the single member, even if your name is the PMA, it\u2019s time for you. If you\u2019re the single member individually, then yeah. You want to add another person.<br \/>\n1:27:10<br \/>\nA real person, not a fictitious name.<br \/>\n1:27:14<br \/>\nSo we\u2019re gonna see here yeah, here it is: 50 50 dollars and north-west registered agent dot com. They\u2019re really nice. These guys, or, they want to sell you a service, That\u2019s why, but you\u2019ll see the actual form there. They\u2019ll tell you all the rules and everything. But they wanted to charge you $100 to do it in the state of Charge 50. If you do by yourself, you just pay 50 dollars.<br \/>\n1:27:34<br \/>\nOK, we\u2019ll do that. Then.<br \/>\n1:27:36<br \/>\nMy final question is, Can federal student loans, if you were to ever, I mean, I\u2019m having good standing, but I still have quite a ways to go.<br \/>\n1:27:44<br \/>\nSo, can they sort of throw a monkey wrench into your LLC because it\u2019s not all government, and this is why I tell people it\u2019s bulletproof. I would never say that.<br \/>\n1:27:56<br \/>\nBecause I didn\u2019t want to be attacked. I\u2019ve got a tax advice over the years. I\u2019ve make sure it is bulletproof.<br \/>\n1:28:03<br \/>\nNo, no.<br \/>\n1:28:04<br \/>\nBecause the first time I did this, it was because of an IRS situation. That was ugly.<br \/>\n1:28:10<br \/>\nAnd so I came up with this, and it stopped them forever, and I was like, ****, I could do this for everything now, and student loans, there\u2019s nothing, there. Nothing.<br \/>\n1:28:19<br \/>\nIf I can beat the IRS student loans, here\u2019s a common student loans, though, they don\u2019t go away, now, unfortunately, they\u2019re not inheritable, so that\u2019s cool.<br \/>\n1:28:27<br \/>\nYep, that\u2019s one of your children, so, but they can knock your net worth down a little bit. If you don\u2019t know how to manage it, they\u2019re like, fire.<br \/>\n1:28:35<br \/>\nSo, what I recommend on student loan is, hey, it, like you, would, any other liability, try to pay it. Try to keep it at bay, try to, I mean, you can make yourself uncollectible and they won\u2019t be able to take anything.<br \/>\n1:28:46<br \/>\nBut just the same, why not get some cash and buy an asset for a couple of grand or $5000, and then allocate the returns on that $5000? I mean, lots of times you can to spend $5000 and make $2000 a month for 20 years.<br \/>\n1:29:01<br \/>\nAnd I would take that cash flow and allocate it towards the student loan, and actually, on the books, it looks like I don\u2019t have a student loan debt.<br \/>\n1:29:08<br \/>\nBecause I\u2019m offset by an asset.<br \/>\n1:29:12<br \/>\nI just think I would just do it that way.<br \/>\n1:29:14<br \/>\nOK, don\u2019t get into a payment plan, even if it\u2019s, Even if you have to pay the IRS, I would do it that way.<br \/>\n1:29:20<br \/>\nOK, all right, thank you, sir.<br \/>\n1:29:23<br \/>\nAll right, yeah, these guys are kinda stingy. I\u2019m seeing here OK, They give me that OK. Well, let\u2019s see.<br \/>\n1:29:29<br \/>\nMaybe I\u2019ll have to take that back I\u2019m looking at north-west Registered Agent and this is the, see to do it right, I\u2019ll show you in a second if I get it right.<br \/>\n1:29:45<br \/>\nOK, Let me just show you, anyway, so I\u2019m going to flip over there real quick. I won\u2019t take up too much.<br \/>\n1:29:50<br \/>\nLet\u2019s just go over there since I can do that.<br \/>\n1:29:52<br \/>\nYou see here, this is, I got this from north-west Registered Agent. I\u2019m not saying any of those guys, I mean, there, it\u2019s a great service, I mean, but, you can do this yourself.<br \/>\n1:30:03<br \/>\nHere it is, Now, I just did a video on how to do this with New Mexico, and I think anyone for Colorado, So this is what you would, if you want to, you could submit this online.<br \/>\n1:30:14<br \/>\nYou can also do an Ohio LLC on paper, so this must be their cover sheet, then how to start a new one and see it\u2019s $99.<br \/>\n1:30:25<br \/>\nThey don\u2019t have the document here for amending the articles that I can see, so I\u2019d have to like search around OK to find it.<br \/>\n1:30:34<br \/>\nBut, yeah, you get the idea, but I\u2019m familiar with the website, so I\u2019ll take a look at it thank you. All right, and let\u2019s see here we go with Jacko.<br \/>\n1:30:55<br \/>\nJacob, you there did take too long.<br \/>\n1:31:08<br \/>\nOK, well, um, let me see, I\u2019m gonna go back to the real quick, uh, OK, Interesting.<br \/>\n1:31:15<br \/>\nYeah. So, I\u2019m this person saying Hydroponics farm near the near, OK, so it\u2019s nearby.<br \/>\n1:31:22<br \/>\nYeah, I know it would be yeah, Greenhouses, OK. So, hydroponics that\u2019s awesome, I mean it\u2019s, it\u2019s so you could do this stuff. You can do hydroponics.<br \/>\n1:31:32<br \/>\nIt\u2019s low tech, what I\u2019m finding is people that actually do this commercially it\u2019s not these huge mega farms, OK they but they make it, they make these farms very efficient by automated systems.<br \/>\n1:31:45<br \/>\nSo the supply chain for hydroponic farm Is pretty good so you can find a lot of good products to automate the process if that\u2019s what you want to do.<br \/>\n1:31:54<br \/>\nLike for example if the Hydroponic farm costs a million dollars it might be justifiable to invest in it and Offset that cost by selling some of the product you know.<br \/>\n1:32:08<br \/>\nYeah and if you have really good food OK, I will look thank you for sending the pick pictures from Gemini. I will check those out.<br \/>\n1:32:17<br \/>\nOK, can I, do, I have to do it now?<br \/>\n1:32:20<br \/>\nAll right, I\u2019ll try. Sometimes my telegram is not let me download files. Some, I\u2019m reluctant to go over there. Let me, let me see if I can pull it off.<br \/>\n1:32:28<br \/>\nJust a second.<br \/>\n1:32:33<br \/>\nOK, and then when the data crashes, it\u2019s, it\u2019s nice to just be able to bet on that, right.<br \/>\n1:32:38<br \/>\nWhen the dollar crashes, U S D T and others will also crash, Where do you shelter from the storm?<br \/>\n1:32:47<br \/>\nYeah. Keep this in mind.<br \/>\n1:32:50<br \/>\nIt\u2019s nothing new. I mean, I would go into gold.<br \/>\n1:32:53<br \/>\nThe only other thing I would look at is an asset that produces cash flow.<br \/>\n1:33:02<br \/>\nAnd then, I don\u2019t care really in the long term what the asset is worth in the meantime.<br \/>\n1:33:12<br \/>\nSo, if the equity goes down because of dollar crashes, maybe there\u2019s some other things too, that are going to be a big problem.<br \/>\n1:33:19<br \/>\nBut just the same. Hopefully, it doesn\u2019t affect my cashflow.<br \/>\n1:33:23<br \/>\nThat\u2019s what I would look for.<br \/>\n1:33:25<br \/>\nAnd I know this is probably a cliche now, but I like investing in finished products.<br \/>\n1:33:31<br \/>\nThis is my recommendation, like, I\u2019m not going to invest in base metal the same way you would invest in gold, that\u2019s silly. But, what I would do is, invest in copper wire and tubing.<br \/>\n1:33:41<br \/>\nAnd the way I would do that is with a contract with the manufacturer.<br \/>\n1:33:46<br \/>\nSo that would be maybe one other way, Now I will mention something else to you.<br \/>\n1:33:51<br \/>\nUm, I probably should talk about this more if you guys want me to.<br \/>\n1:33:58<br \/>\nI have a little profile and an investment strategy. It\u2019s not so much investment as it is, using it in the way you would use gold. But I talk about investing or buying loose diamonds.<br \/>\n1:34:11<br \/>\none carrot, loose diamonds, loose diamonds, and many places in the world are just like cash.<br \/>\n1:34:18<br \/>\nAnd they\u2019re very easy to carry. They are not metallic.<br \/>\n1:34:22<br \/>\nThey\u2019re pretty much invisible, but they\u2019re very valuable. And so there, I have a strategy that I put together on how to buy them.<br \/>\n1:34:30<br \/>\nSo you can get the right price and have the, you know, get the right spot in, the supply chain.<br \/>\n1:34:35<br \/>\nSo yeah, that would be my thinking. Yeah, the dollar is going to crash. There\u2019s going to be some other things that go along with that.<br \/>\n1:34:42<br \/>\nBut yeah, gold, loose diamonds.<br \/>\n1:34:45<br \/>\nAnd manufacturers of products using base metals that have been around for a long time.<br \/>\n1:34:53<br \/>\nMaybe steel products, too.<br \/>\n1:34:55<br \/>\nSo I haven\u2019t done too much research on that, but I read that. I really like copper.<br \/>\n1:34:59<br \/>\nAll right.<br \/>\n1:35:01<br \/>\nYeah. I mean, you can go into I would use decentralized kryptos, such as Bitcoin and litecoin, and a few others. Yeah, OK. OK.<br \/>\n1:35:07<br \/>\noh someone already read it, OK, richest man in Babylon. All right, cool. You think publishing your articles on the Blockchain? This is coming.<br \/>\n1:35:14<br \/>\nYes, it is. It is binding. You publish your articles on the Blockchain.<br \/>\n1:35:18<br \/>\nThis is why I mentioned frequently that we publish, we register articles with the state only because this is what we\u2019ve been born into.<br \/>\n1:35:26<br \/>\nTraditionally, we would publish articles in the newspaper. Before the printing press, we would go out and stand on the rooftops somewhere, and shout to the world. Hey, everybody.<br \/>\n1:35:35<br \/>\nMy company is such and such, and I\u2019m the boss, OK? That\u2019s kind of how we\u2019ve done it. We have to announce the existence of an organization by name in the public.<br \/>\n1:35:45<br \/>\nSo yeah, the blockchain is going to be a great way for that to happen.<br \/>\n1:35:49<br \/>\nPublishing articles.<br \/>\n1:35:50<br \/>\nYeah, OK, so chase\u2019s herbal I\u2019m sorry I had that experience, Janet, Jason\u2019s horrible.<br \/>\n1:35:54<br \/>\nYou know, Maybe that\u2019s changing because, for years, since 2009, at least, I\u2019ve had really good reports about J. So my suspicion is that maybe they\u2019re hiring really untrained people. They\u2019re not training them and they\u2019re just letting them make havoc for people. I don\u2019t know, frustrate them.<br \/>\n1:36:11<br \/>\nI never heard of that before.<br \/>\n1:36:12<br \/>\nYou can, know, try something online. That\u2019s cool.<br \/>\n1:36:15<br \/>\nI guess that\u2019s what the trend now.<br \/>\n1:36:17<br \/>\nAll right.<br \/>\n1:36:18<br \/>\nI mean, Yeah, Now they\u2019ve got electronic signature.<br \/>\n1:36:20<br \/>\nSo, um, Now who, I don\u2019t know, who would not owe Chase would not accept a copy of the certified copy from the state. OK, I have to tell you and Chase the defense. It\u2019s chase\u2019s prerogative to do that.<br \/>\n1:36:33<br \/>\nIt is nice that they would take a copy of the certified copy, but it\u2019s well within their rights to ask for an actual certified copy with the current pages and all that stuff.<br \/>\n1:36:41<br \/>\nSorry.<br \/>\n1:36:42<br \/>\nAnd that\u2019s really mean.<br \/>\n1:36:46<br \/>\nBut they have the right to do that.<br \/>\n1:36:48<br \/>\nWhat if you file the 1099 given by a law firm for AMX saying income earned, OK?<br \/>\n1:36:57<br \/>\nAll right.<br \/>\n1:36:58<br \/>\nIf you already claim 2099 for a debt that you didn\u2019t pay and it doesn\u2019t meet the two exclusions, which are you\u2019re not liable for the imputed income tax.<br \/>\n1:37:10<br \/>\nIf you were insolvent for the tax period, which most people can show even me, I can show that.<br \/>\n1:37:16<br \/>\nOr either or you have you did not have a new deal with the creditor that you didn\u2019t fulfill, OK.<br \/>\n1:37:26<br \/>\nSo if you already reported and you shouldn\u2019t have, you can file a 1040 X and amend it and then remove it.<br \/>\n1:37:35<br \/>\nOr if you have an account, like You know, we were just talking about who can exclude it, I don\u2019t know.<br \/>\n1:37:39<br \/>\nMaybe he still have to amend it but yeah, you can still do 1040 X an amendment I don\u2019t see a problem at that I mean if it\u2019s if it\u2019s a decent amount of money probably makes sense to do that.<br \/>\n1:37:50<br \/>\nCan I change the name of my PM after the Articles? Yeah. You can change the name of the PMA. Here\u2019s what you do. If you, if you\u2019re \u2026, is the, the Member manager VLSC and you want to change his name, all you do is a many articles and change the name. And I have language and how to do this and that video, I think I put in the members area, and I\u2019ll tell you how to do that.<br \/>\n1:38:07<br \/>\nWhat you want to keep in mind is, on the document where you many articles, you want to make the amendment first, because you have the authority to do that.<br \/>\n1:38:17<br \/>\nAnd then afterwards, if you\u2019re changing your authority, then change your authority last.<br \/>\n1:38:21<br \/>\nLike if you\u2019re removing yourself, change your authority last.<br \/>\n1:38:24<br \/>\nIf Yeah, so let\u2019s say change your name Yeah.<br \/>\n1:38:26<br \/>\nIf you\u2019re just changing the name of the PMA, all you do is something like: in this in the section where you\u2019re mending the articles, you would say be it resolved this day. Amending the name of the managing member from, and then you give the name, and then you say to the name up and then give it a new name.<br \/>\n1:38:41<br \/>\nAnd then you might say something like, such that, then the name of the managing member is now, and, again, give the new name, and I know that sounds wordy, but that\u2019s kind of how things are done that way. So that is my version of amending it.<br \/>\n1:38:58<br \/>\nWow, up in New York, hydroponic farm, that\u2019ll be nice.<br \/>\n1:39:01<br \/>\nJust be nice, OK. Average waiting time for the reply from Coinbase. You know I\u2019ve heard Coinbase taken six weeks.<br \/>\n1:39:08<br \/>\nNo maybe more.<br \/>\n1:39:10<br \/>\nI know it\u2019s crazy. Calama Brown seems to be like the best game in town that\u2019s not in town. Do you have any opinion about the potential flooding events in Florida? I don\u2019t know.<br \/>\n1:39:18<br \/>\nI mean, the average altitude in Florida is 12 feet.<br \/>\n1:39:23<br \/>\nI think my neighborhood is two feet above seawater. Judging by the puddles in the ponds in our in our area, we have lots of ponds where we are all throughout central Florida ponds everywhere.<br \/>\n1:39:35<br \/>\nSo, you know, imagine it\u2019s like a sponge ameen flooding would just immediately flood.<br \/>\n1:39:41<br \/>\nI don\u2019t know what\u2019s going on.<br \/>\n1:39:44<br \/>\nI\u2019m, I\u2019m, I\u2019m gonna guess that some of these predictions about Florida flooding are maybe going to come true.<br \/>\n1:39:50<br \/>\nProbably where I am is going to be flooded, I\u2019m 45 minutes inland from the eastern coast.<br \/>\n1:39:58<br \/>\nSee Insurance Companies, Artwork.<br \/>\n1:40:04<br \/>\nI weren\u2019t sure what you meant OK can use.<br \/>\n1:40:08<br \/>\nOK, Investment Opportunity with Insurance Program, so I don\u2019t know.<br \/>\n1:40:13<br \/>\nI\u2019m just talking off the cuff here. I\u2019m definitely not an expert on insurance actuarially.<br \/>\n1:40:16<br \/>\nWhat I would recommend is: Quantify your insurance operation. Your investment opportunity. What is it that you\u2019re investing in?<br \/>\n1:40:22<br \/>\nIs it stock? I don\u2019t know. Is it a contract? Is it receivables?<br \/>\n1:40:26<br \/>\nAnd just like any other investment.<br \/>\n1:40:28<br \/>\nAnd the thing you\u2019re investing in should have a balance sheet. If it does not have a balance sheet, you can create a balance sheet, and that helps you calculate your investment. That\u2019s another thing you can do, for, example, if I\u2019m going to buy something.<br \/>\n1:40:40<br \/>\nLet\u2019s say it\u2019s my neighbors.<br \/>\n1:40:42<br \/>\nI know the guy and he\u2019s running a really successful Coyne laundry, right?<br \/>\n1:40:48<br \/>\nBut he\u2019s running everything out of his pocket. You know, how some people used to do it. Maybe they still do it that way. And he really doesn\u2019t have good books and records.<br \/>\n1:40:55<br \/>\nWell, I even though I know the guy, but to be pragmatic, I would go to a business broker and I would have that broker give me a set of books and records. And maybe he has to go through an audit process of the guy who\u2019s selling the laundromat to me.<br \/>\n1:41:08<br \/>\nRight?<br \/>\n1:41:08<br \/>\nSo anything you\u2019re doing like, you\u2019re saying here, an investment opportunity with insurance program, OK? Look at it just like another asset and look at all the components of it, and maybe you want to see a balance sheet up and see what you\u2019re investing in. What is it that you\u2019re really investing in?<br \/>\n1:41:21<br \/>\nCorrect me if I\u2019m wrong, but my understanding of a mining contract is that you\u2019re investing, you think about this.<br \/>\n1:41:28<br \/>\nIf you\u2019re buying a mining contract, I believe that the investment is an investment in bandwidth.<br \/>\n1:41:35<br \/>\nSo, that has to do with the facility that\u2019s providing the bandwidth and the technology and the funding behind the facility.<br \/>\n1:41:43<br \/>\nSo, I\u2019m just using that as an example, so that when you\u2019re investing in something you\u2019re not quite sure about, understand what it is that you actually are investing in.<br \/>\n1:41:53<br \/>\nFor example, if I want to buy Macdonald\u2019s, which I never would, that is a business system and it\u2019s also a real estate investment.<br \/>\n1:42:01<br \/>\nSo um starbuck\u2019s, that\u2019s a real estate investment but it\u2019s also, you\u2019re investing in a brand.<br \/>\n1:42:11<br \/>\nNo. Because it\u2019s a licensing deal.<br \/>\n1:42:15<br \/>\nLet\u2019s see if I can. OK, Coinbase.<br \/>\n1:42:19<br \/>\nYeah taking about business.<br \/>\n1:42:22<br \/>\nDo print articles on the Blockchain yeah and FTEs.<br \/>\n1:42:26<br \/>\nI\u2019ve been looking into it and have made a few entities OK, I don\u2019t know what entities are I probably do, but I don\u2019t recognize \u2026 I\u2019m sorry, when you open up a settlement trust bank account, the trust says the trustee does not have signing rights.<br \/>\n1:42:38<br \/>\nSo when opening the account, the bank will ask, who has signing rights.<br \/>\n1:42:45<br \/>\nIf so, OK, it has signing rights, but it\u2019s with the authorization of the beneficiary, and the beneficiary is saying, Yeah, go open a bank account, So you\u2019re good there.<br \/>\n1:42:54<br \/>\nAnd it almost doesn\u2019t matter. We tell the bank, it really doesn\u2019t matter. We tell the bank, what matters is what\u2019s documented for the trust and the account holder.<br \/>\n1:43:00<br \/>\nThe trust is going to be the account holder, so all the authority is in there, all the liabilities in there.<br \/>\n1:43:09<br \/>\nThe beneficiary, I\u2019ve never known, had to come with you. I mean, what if your beneficiary is two years old?<br \/>\n1:43:14<br \/>\nI mean, I think the bank employees may not know what they\u2019re doing to tell you to bring in your beneficiary that\u2019s silliness. That\u2019s why we have, I mean, I don\u2019t even like using a driver\u2019s license number to identify the beneficiary.<br \/>\n1:43:27<br \/>\nYou don\u2019t have to it\u2019s as if it\u2019s sufficient to identify by name, date of birth and relation to yourself, or to the trustee.<br \/>\n1:43:36<br \/>\nSome are tax free from Australia, OK? Crypto haven\u2019t there. OK.<br \/>\n1:43:42<br \/>\nAustralia has LLCs, you can use them the same way.<br \/>\n1:43:46<br \/>\nI\u2019m sure there\u2019s a little variation on that.<br \/>\n1:43:49<br \/>\nBut to be certain, I mean, I just want you to know that you can do it without me being involved all the time, I\u2019m more than happy to do it. You can do an LLC here in the States you can domesticated in Australia. You can take the same idea, open up an LLC in Australia and use the same tax treatment here. I don\u2019t think you\u2019re gonna have a problem with that. I have not done that.<br \/>\n1:44:07<br \/>\nSo, far so good though.<br \/>\n1:44:09<br \/>\nThe canadian\u2019s, we\u2019ve done for, haven\u2019t had a problem there.<br \/>\n1:44:13<br \/>\nI think it\u2019s too early to tell, really, but, but yeah, if you want to do something real quick, it\u2019s just because I don\u2019t have expertise in Australia. With their system of registering the company. There\u2019s a bit more formality with most other countries than than here in the states.<br \/>\n1:44:29<br \/>\nSo yeah, but you can do the same thing.<br \/>\n1:44:32<br \/>\nI can, I can certainly help you with that. I did, I did sit here on Telegram one day and I walked through the Australian LLC with a person and we did it. So, I haven\u2019t heard back from her, so I guess everything\u2019s good. Let\u2019s see just how it goes.<br \/>\n1:44:43<br \/>\nInsurance program is basically the probability of insurance premium being paid by the client, and the claims are kept.<br \/>\n1:44:50<br \/>\nOK, that\u2019s interesting, because I would want to know, OK, I\u2019m sorry guys, I didn\u2019t repeat this. The insurance program was basically the probability that the insurance premium is being paid by the client.<br \/>\n1:45:03<br \/>\nSo, you\u2019re investing in the cash flow, and the claims are kept within a certain range, yeah.<br \/>\n1:45:07<br \/>\nUrine kes, investing in the cash flow, and the risk of claims being paid out.<br \/>\n1:45:15<br \/>\nSo.<br \/>\n1:45:19<br \/>\nThat\u2019s cash flow, and you\u2019re going to have a bit of a separate balance sheet.<br \/>\n1:45:23<br \/>\nSo, I would want to isolate those numbers, and be able to analyze them.<br \/>\n1:45:28<br \/>\nKinda like tax lien certificates.<br \/>\n1:45:32<br \/>\nIt sounds pretty cool.<br \/>\n1:45:36<br \/>\nWhich of your sites will have the new help page? OK, so I\u2019m sorry if I didn\u2019t wasn\u2019t clear on that. Ace of \u2026 dot com, it\u2019s up there now.<br \/>\n1:45:44<br \/>\nIf we go.<br \/>\n1:45:47<br \/>\nNow you\u2019re going to see a different view on my page.<br \/>\n1:45:53<br \/>\nBecause I\u2019ve got my My IDs on there, But basically that\u2019s what it looks like, right.<br \/>\n1:45:57<br \/>\nSo see how here, it doesn\u2019t move the help button, Right? So, you just click on that, and all we\u2019re going to do is ask your e-mail. So, if it gives your e-mail, it\u2019s really cool and you can upload like five documents.<br \/>\n1:46:08<br \/>\nIf you have a PDF or something, because upload five documents, then you could, you can make up a name if you want, I don\u2019t care.<br \/>\n1:46:15<br \/>\nTell us what you\u2019re talking about, then, you know, whatever and then, just like anything, tell us, you\u2019re not a robot.<br \/>\n1:46:22<br \/>\nThat\u2019s really important.<br \/>\n1:46:24<br \/>\nAnd then we go, OK, we\u2019re going to have a lot more features up there soon, but this is the bare bones to get started. All right?<br \/>\n1:46:34<br \/>\nCrazy, Coinbase applied May 27 finally receive response, what?<br \/>\n1:46:39<br \/>\nJune, July, August, they had a few questions and they\u2019re now reviewing it. Hmm, hmm, hmm.<br \/>\n1:46:46<br \/>\nMaybe they have high volume.<br \/>\n1:46:49<br \/>\nThat\u2019s the nature of the business, I suppose.<br \/>\n1:46:52<br \/>\nIs there someone else?<br \/>\n1:46:53<br \/>\nThat, Frank, did you wanna ask me something?<br \/>\n1:46:57<br \/>\nYeah John, I was just interested My ears perked up when you said, when you were talking to that lady and you said something about putting $5000 and having $2000 a month income. give me an idea of where I can do that. I\u2019ve got some sounds like. Stop, go our money, output that way.<br \/>\n1:47:15<br \/>\nOh my gosh. Yeah, yeah. Keep tell my wife, she\u2019s not wasting your time on e-bay and stuff and for her, it\u2019s a hobby, and I don\u2019t know, she gets the movie points and stuff.<br \/>\n1:47:23<br \/>\nAnd nobody wants to know actually, B buys me a silver coin.<br \/>\n1:47:27<br \/>\nSo, I\u2019ll shut up, right? Yea, I got Silver for free.<br \/>\n1:47:31<br \/>\nIt seems like it\u2019s for free, yeah.<br \/>\n1:47:32<br \/>\nBut I was like, if you\u2019re going to spend that much time on the computer, why not buy an online store That sells the stuff you\u2019re already dealing with?<br \/>\n1:47:41<br \/>\nThen you can add in your products, and she hasn\u2019t done it yet, So. I can\u2019t make it it.<br \/>\n1:47:45<br \/>\nBut anyways, I show beginning people, or people that just like coming to me and they\u2019re there in their sixties. And I can show people that they can use the Internet, you don\u2019t have to be tech savvy. I\u2019m not, I don\u2019t want to be. But you can find a broker of a website, that\u2019s a business. It may be brick and mortar. But it may also only be website. It\u2019s up to how you want to do it.<br \/>\n1:48:04<br \/>\nYou can choose If you want to spend a lot of time or not, If you want to just make it really a cash flow that you barely have to pay attention to, you can do that, too. Without employees.<br \/>\n1:48:14<br \/>\nLot of times, it\u2019s all plug and play, they have fulfillment centers, all you need is a merchant account, really. And you go online and find them. I can give you so many examples. I found one, and I\u2019ve never, I haven\u2019t done this, But I\u2019ve done other things that are like this And I\u2019ve had clients do this with great success if they\u2019ll just do it, because some are afraid, But I found one the other day. And there\u2019s a couple of things I like. I like vanity products, like pet supplies, Like baby things, baby products.<br \/>\n1:48:38<br \/>\nI like exercise equipment, but anything that\u2019s a vanity.<br \/>\n1:48:41<br \/>\nSo the one I found the other day was out there, Women\u2019s Jeans.<br \/>\n1:48:46<br \/>\nIt was a retail website. It was for $45,000.<br \/>\n1:48:50<br \/>\nNow, that sounds a little bit large, but the way I measure whether or not I\u2019m willing to buy it, is if I can pay for the business at the asking price within 3 to 6 months of net income.<br \/>\n1:49:02<br \/>\nAnd so the net income was $12,000 a month. The net income is 12,000 a month. So, in Yen underflow now. Yeah.<br \/>\n1:49:11<br \/>\nWhat the heck? Can you do? A 12 brand? It\u2019s free money. It\u2019s free money, and you got a craze, and you got a fulfillment center. I need to plug it in a merchant account. And if you have, if you\u2019re a high volume of customer contact, you just outsource that.<br \/>\n1:49:26<br \/>\nHmm. Yeah, Wow, that\u2019s there. There\u2019s another one. OK, so this one woman, I was, um, OK, so she found, she fell one for 18,000.<br \/>\n1:49:35<br \/>\nIt, it kneaded $7000 a month.<br \/>\n1:49:39<br \/>\nAnd on the, on the listing, the seller was saying, I will not accept terms, which means, don\u2019t ask me to finance it to you. And so, she calls me like a week later, and so we\u2019re talking about something else, And I said, Hey, What about the thing that? Did, you get that?<br \/>\n1:49:52<br \/>\nShe goes, yeah, but the guy said, he wouldn\u2019t accept terms, and I said, so, she goes, What means?<br \/>\n1:49:58<br \/>\nSo, I said, Well, did you make an offer?<br \/>\n1:50:01<br \/>\nShe said, No, I was like, Well, make an offer.<br \/>\n1:50:04<br \/>\nBut he said, he won\u2019t take turns and I don\u2019t want to pay cash for it. I said, I don\u2019t care if you have $18,000 in your pocket. Make an offer that has terms on it. And when he says to you, he doesn\u2019t want terms, Ask them, why are his books a fraud?<br \/>\n1:50:17<br \/>\nYeah, yeah, he\u2019s lying, right, and then it turns it around, he\u2019s like, well, no, but well, come on, who couldn\u2019t wait for two months, OK, so he wants 18 grand. He\u2019s netting $7000 what\u2019s going to take 2.5 months? 10 weeks?<br \/>\n1:50:32<br \/>\nWhat\u2019s the problem with 10 weeks.<br \/>\n1:50:34<br \/>\nRight?<br \/>\n1:50:34<br \/>\nNow why would why would somebody sell a business for that kind of money with that amount of inflow quadruplets money, and these are people that I\u2019m going to just summarize what they\u2019re doing. A lot of these people that are doing this are really good. Somehow, it generating a business, all of a sudden, and making cash flow, they run it for about two years, and then sell it. So it\u2019s like flipping URLs.<br \/>\n1:50:58<br \/>\nI don\u2019t know how they worked.<br \/>\n1:51:00<br \/>\nAnd, where are you, Where would you go to find these kinds of things that my go to for demonstration purposes is a website called exchange marketplace dot com.<br \/>\n1:51:11<br \/>\nOK, exchange, marketplace dot com. I do have a video on this, I think.<br \/>\n1:51:15<br \/>\nIt\u2019s, I think it\u2019s public on YouTube, on, um, on privacy, fight.<br \/>\n1:51:19<br \/>\nI have a series of those videos where I\u2019m talking about other ways of doing things like this.<br \/>\n1:51:25<br \/>\nYeah.<br \/>\n1:51:25<br \/>\nSo, anyways, I just said to her why don\u2019t you offer a thousand dollars non-refundable down an offer to pay him $19,000 and he\u2019ll finance it so coming up with an offer he\u2019d never accepted. Expected, right, it\u2019s something new.<br \/>\n1:51:39<br \/>\nI\u2019m not saying you have to do that and I\u2019m in fact I want to make an offer where the person says, that\u2019s insulting.<br \/>\n1:51:46<br \/>\nMean, maybe, or.<br \/>\n1:51:48<br \/>\nI want him to say, No, yeah, right, because, then I know where to start.<br \/>\n1:51:53<br \/>\nNo, with them, if I can.<br \/>\n1:51:56<br \/>\nSo, yeah, it\u2019s kinda fun. You\u2019ll find it. So you\u2019ll just need a merchant account. And a little bit of, maybe you go to \u2026 dot com, and have someone build your site, my son, who\u2019s 17 today. He\u2019s almost 18.<br \/>\n1:52:07<br \/>\nHe comes to me today.<br \/>\n1:52:09<br \/>\nAnd he needs a website for this project, he\u2019s doing.<br \/>\n1:52:12<br \/>\nAnd he found a whole package where they\u2019ll build them, the whole site, for $126. And actually, once he saw what was involved, he came over to me and he said, Hey, Dad, do you think it\u2019s OK?<br \/>\n1:52:23<br \/>\nIs it possible that I can just change that and just refund my money?<br \/>\n1:52:27<br \/>\nBecause I can see now that I could do that myself? So, I said, Hey, do whatever you want, You know?<br \/>\n1:52:33<br \/>\nSo, it\u2019s not that hard.<br \/>\n1:52:36<br \/>\nOK, I use that for offsetting liabilities. If I want to buy, you know, some motorcycle or something or a waste, my money on a boat or something, I\u2019ll just do that first.<br \/>\n1:52:47<br \/>\nOK?<br \/>\n1:52:54<br \/>\nAlright, so anything else?<br \/>\n1:53:00<br \/>\nThat\u2019s always an interesting topic, I love showing people that because, you know, some people come to me and they\u2019ve been gutted by the IRS or something. And they spent their whole lives doing things to, to have a nice retirement and the IRS took advantage of that. And they were just unsophisticated. They didn\u2019t see and they got bad advice and they got everything taken from them. And so they\u2019re left with their Social Security, which is kinda the name of the game, I hate to say.<br \/>\n1:53:21<br \/>\nAnd so it\u2019s just a little bit of effort Little bit more work to get them over that little bit of?<br \/>\n1:53:27<br \/>\nCreating some cash flow, and It\u2019s never been easier It\u2019s never been easier to create some new cash flow Also. John. Let me ask you real quick while I got you. So I\u2019ve gathered that you\u2019ve done a lot of getting people out of credit card debt or fighting the?<br \/>\n1:53:46<br \/>\nCreditors.<br \/>\n1:53:48<br \/>\nUm, so my wife has a lot of credit card debt that\u2019s been, that\u2019s old and been written off, well, not reload, but within the last couple of years, what is the, what does the most efficient way to go about go about getting her credit rebuilt?<br \/>\n1:54:05<br \/>\nI mean, most of these accounts have been written, all socio up on that. She settled, you know, first a percentage of the balance.<br \/>\n1:54:15<br \/>\nSo, I mean, I don\u2019t know if you have any, if, you know anything about that. As far as, Yeah, I never settle. Never settle it. Never thought you\u2019d never rewarded for settling yours out Your cash?<br \/>\n1:54:25<br \/>\nSo, never settle.<br \/>\n1:54:29<br \/>\nMost of them have just been written off.<br \/>\n1:54:31<br \/>\nThey\u2019re all written off and third party.<br \/>\n1:54:33<br \/>\nThird party collectors are still calling on some.<br \/>\n1:54:38<br \/>\nSo, what you do is when they call, I mean, it\u2019s not, it\u2019s never productive. It\u2019s never to your advantage to talk to them on the phone, so, Instead, you Just asked them to send you a letter. That\u2019s it. And they usually do, they usually do on. The other thing is, when they send you the letter.<br \/>\n1:54:50<br \/>\nI just, You can, you can dispute it and say, I dispute this. I want to copy the contract, and then who cares what they say, it, doesn\u2019t matter, you just responded. It\u2019s OK. But if they\u2019re not going to sue you, and she\u2019s going to stay on your credit, and it goes to a debt collector that fixture credit.<br \/>\n1:55:05<br \/>\nYou just bute a debt collector for reporting the item without a permissible purpose.<br \/>\n1:55:15<br \/>\nAnd the way that works, is, you have to do to those disputes to give them a chance to respond, and then you do it again.<br \/>\n1:55:21<br \/>\nI think, after 30 days, what I also like to do is, I ask the debt collector, it has to be a third party debt collector.<br \/>\n1:55:27<br \/>\nI also request a validation of the account, I don\u2019t care what the response is.<br \/>\n1:55:32<br \/>\nBy the way, they could do whatever, it doesn\u2019t matter, because they will not be able to survive a fair credit reporting act review, Meaning, that you didn\u2019t have a deal with that debt collector and it\u2019s reporting on your credit file and you didn\u2019t authorize that.<br \/>\n1:55:49<br \/>\nYou\u2019re, you\u2019re disputing it with the credit bureau, Right. I mean, with, with one of the agencies. Right, right, with the Bureau, right, at the same time though, I asked for validation and then I, however they respond, I usually use that validation if I need to With the Bureau.<br \/>\n1:56:05<br \/>\nBut, most of the time, I don\u2019t have to.<br \/>\n1:56:06<br \/>\nSo, you dispute the item because it was reported without a permissible purpose.<br \/>\n1:56:12<br \/>\nAnd there\u2019s one little paragraph, and the Fair Credit Reporting Act, that has that, those criteria in there.<br \/>\n1:56:19<br \/>\nIt Antedates report by more than seven years, it was reported without a permissible purpose.<br \/>\n1:56:23<br \/>\nIt\u2019s inaccurate purpose, I\u2019m sorry, go ahead, reported without a permissible purpose. You have to do that twice.<br \/>\n1:56:32<br \/>\nYou have to document it, so you have to be in writing, not on the phone.<br \/>\n1:56:35<br \/>\nYou could do first class letter. That\u2019s fine.<br \/>\n1:56:38<br \/>\nCertify is OK, too, you don\u2019t have to be certified.<br \/>\n1:56:40<br \/>\nAnd then, if it\u2019s not corrected, then, which most of the time, it is by that point, you have a cause of action. Now, that sounds scary. But you can find the pleading The way to do this to file a complaint.<br \/>\n1:56:50<br \/>\nYou can find it as an example and most places on the Internet I have it somewhere in fact actually have this section in my book on which I can send you.<br \/>\n1:56:57<br \/>\nUm, so I\u2019ll send you the PDF file.<br \/>\n1:57:00<br \/>\nUh, if you have to go to Federal Court, you\u2019ll win and you can get a thousand dollars per per item from Whomever\u2019s Breaking the law?<br \/>\n1:57:09<br \/>\nYeah, it\u2019s kinda cool thousand dollars plus you\u2019re filing fee if you had to pay it, so there\u2019s that. The other thing is, ironically, a creditor, like Citibank, for example.<br \/>\n1:57:17<br \/>\nThe original creditor can report an item, and it won\u2019t be on your file from seven years from the date of last payment. So that\u2019s why it never benefits you to pay, because as soon as you pay, it just gonna stay on your file longer.<br \/>\n1:57:30<br \/>\nThey\u2019re not going to changes the animals kilometer hmm.<br \/>\n1:57:33<br \/>\nSo if Citibank sues you and gets a judgement lien and then reports it, here\u2019s what\u2019s really happening.<br \/>\n1:57:39<br \/>\nCitibank reports the first item, you can\u2019t get it off your file for unless it\u2019s inaccurate.<br \/>\n1:57:44<br \/>\nAnd chances are it\u2019s not going to be it has a permissible purpose, because it is a creditor.<br \/>\n1:57:51<br \/>\nBut if it reduces its claim to a Judgement Lien, it will never report the judgement link to your credit file.<br \/>\n1:57:58<br \/>\nA third party has been doing that it\u2019s called lexis Nexis.<br \/>\n1:58:01<br \/>\nlexis nexis is a a reporting agency.<br \/>\n1:58:04<br \/>\nThat\u2019s just like Equifax it\u2019s regulated under the CRA.<br \/>\n1:58:09<br \/>\nBut no one ever hears about it because its business model is to go scours public records and collect them and publish it on people\u2019s credit.<br \/>\n1:58:17<br \/>\nHits.<br \/>\n1:58:18<br \/>\nLike this ill stepchild of the credit reporting.<br \/>\n1:58:22<br \/>\nWhatever, so. Well yeah. Yeah. So here\u2019s the Achilles heel of the whole system because lexis nexis reported the judgement lien. And you didn\u2019t give permission.<br \/>\n1:58:33<br \/>\nThere\u2019s no permissible purpose.<br \/>\n1:58:35<br \/>\nSo you have to dispute it with lexis nexis.<br \/>\n1:58:39<br \/>\nThat\u2019s the kind of secret.<br \/>\n1:58:41<br \/>\nAnd again, you have the claim and Fed Court if it\u2019s not fixed.<br \/>\n1:58:48<br \/>\nThat\u2019s the same thing with tax liens. And by the way, tax liens and bankruptcies, tax liens, or to, like, Tax Lien, IRS, Liens notices of Lean, all those lanes.<br \/>\n1:58:57<br \/>\nThose can be removed for the same reason reported by lexis nexis without a permissible purpose.<br \/>\n1:59:02<br \/>\nI just said yes, bankruptcies and tax liens judgements.<br \/>\n1:59:09<br \/>\nAnd you might have a battle on your hands because sometimes they make you go to court. So but that\u2019s the remedy.<br \/>\n1:59:15<br \/>\nAnd here\u2019s what I do for people. So I would just recommend this.<br \/>\n1:59:19<br \/>\nMy, my credit is around 600. Maybe it\u2019s 590. I don\u2019t know.<br \/>\n1:59:22<br \/>\nI deliberately leave it that way. I don\u2019t care. I can have a score of 800 if I want. I don\u2019t care I laugh at people, that brag about their credit.<br \/>\n1:59:31<br \/>\nI mean, it\u2019s funny because how much does that cost to have really good credit and then what have you done?<br \/>\n1:59:37<br \/>\nWhat does that what does that do for you and your life, you know? Yeah, OK, you get lower insurance rates or something like that But what I would have done over the years is for example on the foreclosure business.<br \/>\n1:59:46<br \/>\nI did like over one thousand foreclosure cases from 2008 and The offer to those people was I will keep in your house long enough to where you can use that house and recover all the money spent on it And then I will show you how to buy a new house with bad credit Buy a new house Then I did that and they did it with horrible credit. In fact, some people even went and became real estate investors. once I showed them some of the things.<br \/>\n2:00:11<br \/>\nUm, so I would recommend considering ways to do things with regards to what your credit file is buying a car, a house, whatever the hardest thing to do is um get a cell phone contract.<br \/>\n2:00:23<br \/>\nBut you can, you can negotiate things like your house them in right now.<br \/>\n2:00:26<br \/>\nMy, I rent this house and I, I went to had to go through 20 deals, 20 possible houses to get this one because most everyone said, we don\u2019t like your credit score, no matter how much money I wanted to put down. So I had to keep on shopping until someone said, yeah, you look like a nice guy. And sure, I\u2019ll take two months downpayments, stuff like that.<br \/>\n2:00:46<br \/>\nAnd so that worked.<br \/>\n2:00:49<br \/>\nThat\u2019s the kind of thing, I\u2019d rather than happy to do that.<br \/>\n2:00:53<br \/>\nYeah.<br \/>\n2:00:53<br \/>\nDo you, do you still do, know, these kinda things like clear? I hope it\u2019s credit.<br \/>\n2:00:59<br \/>\nYeah, I\u2019ll help you. Yeah, I guess on it. But.<br \/>\n2:01:01<br \/>\nyeah, I hope you, all, I need to see is, um, like, I really want to show you how to do it, but I\u2019ll help you with it.<br \/>\n2:01:08<br \/>\nUm, I do it for promoting things.<br \/>\n2:01:11<br \/>\nI don\u2019t even like to charge money for it, but if you just show me the items on your credit, if I can see the actual item, I can tell you how to frame the dispute, and then show you how to do that process.<br \/>\n2:01:21<br \/>\nAnd, I\u2019ll help, OK, Hopefully, we don\u2019t have to go to court, but, yeah, yeah, sure, yeah.<br \/>\n2:01:29<br \/>\nAnd you were, and you were telling me that? Because she has, she has she inherited a house that\u2019s a rent house.<br \/>\n2:01:37<br \/>\nUm, we want to get that out of her personal name, and I think you had mentioned that to me, just because the, the credit card debt, and she also has student loan debt that, I mean, she\u2019s not behind on it.<br \/>\n2:01:50<br \/>\nBut just to shield that trust property from any potential creditors that that\u2019s the perfect example of putting, putting that housed in an LLC, right? That\u2019s the use of it. But there\u2019s another adjective I want to add in there potential creditors and future creditors.<br \/>\n2:02:09<br \/>\nBecause whoever has a judgement lien now, that judgement lien against your your wife will will still attached to the new owner\u2019s interest in the property that she did previously owned.<br \/>\n2:02:20<br \/>\nIt will still attach.<br \/>\n2:02:22<br \/>\nSo follow said, I don\u2019t, what do you mean by that, I\u2019m not sure if, so, do you own a house if you own a house?<br \/>\n2:02:30<br \/>\nYeah, there\u2019s a judgement lien against your name and your name is on the title, and the judge has public records, OK, In that state, where do you own the house?<br \/>\n2:02:39<br \/>\nIf you did that title over to an LLC, for example, that judgement lien still encumbers the interest of the judgement lien on the new owner.<br \/>\n2:02:49<br \/>\nOh yeah, yeah, yeah. So you\u2019re saying Do it ASAP, before There\u2019s that.<br \/>\n2:02:54<br \/>\nYeah, definitely, yes.<br \/>\n2:02:58<br \/>\nGotcha, yeah, and, and don\u2019t sell it by the \u2026 Are there, alright.<br \/>\n2:03:01<br \/>\nIf you want, if you want to do something, whether it is rented out, mean, because if you don\u2019t just take all your equity, the only other way around that is to follow a lien on the property the best way to do it as deed over the property.<br \/>\n2:03:11<br \/>\nYeah, OK.<br \/>\n2:03:12<br \/>\nAnd, would you, would it be OK to dede over the property to the same LLC that I\u2019m using for the kryptos that I have not file a tax return yet? Or, you don\u2019t want to mix those, kryptos? I\u2019m fine, That\u2019s fine.<br \/>\n2:03:28<br \/>\nBut one of the other measures I use is that if, if my LLC that I\u2019m owning my house with, my house I live in, as a crypto portfolio, and I don\u2019t really care how big that portfolio is, if I\u2019m the only investor in that portfolio, I\u2019m fine with that, because, even though it is too unlike things, it is almost the same as my LLC, also having a bank account.<br \/>\n2:03:48<br \/>\nRight?<br \/>\n2:03:49<br \/>\nIt\u2019s also highly liquid, so that means I\u2019m not stuck with that, I can move money around, and also kryptos are different creatures. Like, the debt collection system is not geared yet to grabbing any money from crypto.<br \/>\n2:04:02<br \/>\nYeah, it\u2019s a difficult situation, so you\u2019ll be fine. Now, if you take on a business partner or something like that, and you\u2019re running a business.<br \/>\n2:04:07<br \/>\nCertainly, you want to isolate that from your, your portfolio, So that\u2019s when you open a new, OK. Gotcha, OK, Thank you.<br \/>\n2:04:16<br \/>\nAll right, and I appreciate all your comments, and I\u2019m glad this is worked out for you guys. I\u2019m glad to cover these these topics, Somebody was asking me something here. What was it?<br \/>\n2:04:26<br \/>\nYeah, this one\u2019s, this one\u2019s recorded.<br \/>\n2:04:28<br \/>\nSo I\u2019m gonna, I\u2019m gonna make this available Let\u2019s see.<br \/>\n2:04:34<br \/>\nYeah, appreciate your comments, Let\u2019s see here.<br \/>\n2:04:37<br \/>\nDeals insurance for OK, Sounds good.<br \/>\n2:04:40<br \/>\nYeah, if you give me details on the insurance, I really appreciate that.<br \/>\n2:04:43<br \/>\nUm, OK, yeah, and then.<br \/>\n2:04:50<br \/>\nOK, yeah, OK, now, the computer, the computer, I\u2019m sorry, the credit profile, number, C, P N, um, back in the nineties, I, just, I saw that I was not going to be able to negotiate my way into getting a bank account without an SSN.<br \/>\n2:05:04<br \/>\nAnd I just had chosen in 19 93 to stop using my SSN and I\u2019ve never used it since I take them back, I probably said it twice since then.<br \/>\n2:05:13<br \/>\nUm, not because I had to cut was trying something out.<br \/>\n2:05:17<br \/>\nAnd, so, to me, it was immoral, so I still had to get a bank account. And, as I said, I\u2019m going to find out what exactly the banks doing with this SSN. When I apply for an account and I reverse engineered it and I did a lot of research. I talked to some bankers, I forget what I did, but I did, I did liquid at a database that\u2019s maintained.<br \/>\n2:05:37<br \/>\nI believe, it\u2019s still published by the national security agency, the NSA, and I took me back to some publication, which I don\u2019t remember anymore.<br \/>\n2:05:46<br \/>\nWhere it was demonstrating a Navy algorithm, the Navy had developed a way to generate these SSN numbers back from 1933 or 35 or whenever they started that.<br \/>\n2:05:56<br \/>\nSo, when I found out what the bank was doing, I realized the bank is only concerned with the fact that when you apply for an account, you give them your SSN date of birth and name.<br \/>\n2:06:08<br \/>\nAnd then it checks to see if there\u2019s a credit file, that\u2019s all it\u2019s checking for, it doesn\u2019t connect into the IRS and there\u2019s no, there\u2019s talking back and forth and stuff like that. So It also does, one other thing, it checks to make sure that that number has not been assigned to a dead person.<br \/>\n2:06:23<br \/>\nSo it\u2019s called, Checking Against the Death Index file.<br \/>\n2:06:26<br \/>\nSo as far as CPM\u2019s go, and I know that I\u2019m giving you a long answer here, you can use a credit profile number and it\u2019s actually become easier over the years in lieu of an SSN to open a bank account.<br \/>\n2:06:40<br \/>\nThe only way you need, the only thing you have to keep in mind is that you just have to ask for credit and get denied.<br \/>\n2:06:46<br \/>\nThat will create your file and then you can use that to open a bank account with a C PN credit profile number, not your SSN at all.<br \/>\n2:06:54<br \/>\nUm, and you\u2019re not going to be a problem at all. There\u2019s not going to be just don\u2019t get interest on the account.<br \/>\n2:06:59<br \/>\nSo you might get Becker withholding if you care backup withholding.<br \/>\n2:07:04<br \/>\nSo, I don\u2019t normally market that service by itself. I thought it was cool in the very beginning.<br \/>\n2:07:11<br \/>\nBut, really, I found that the wrong people were attracted to it, not to say that you\u2019re going to do anything wrong with it, but the common question that people are asking me about the computer or the credit profile number is whether or not it\u2019s legal. So, a person would come to me with a problem. And I would suggest, OK, Well, hey, look, let\u2019s set up a new credit file. Because in your situation, it makes sense to do that. now.<br \/>\n2:07:30<br \/>\nI will recommend that in some cases where, like a person that I just was helping with, this was kind of being stocked on paper if you will.<br \/>\n2:07:39<br \/>\nAnd a victim of ID theft that she could never shake no matter what she did.<br \/>\n2:07:44<br \/>\nThere\u2019s some person in her family. She doesn\u2019t know exactly who it isn\u2019t, or she can\u2019t stop them.<br \/>\n2:07:48<br \/>\nAnd they keep using your credit, I don\u2019t know what the heck is going on, and maybe she didn\u2019t tell me everything, But I said, well, no matter what you\u2019re doing, it\u2019s not working. So, then, let\u2019s just do this, Let\u2019s just, start, start a whole new, quick, clean file, which is what she\u2019s doing. And it literally takes 15 minutes to do this.<br \/>\n2:08:04<br \/>\nIt takes maybe three months to have a decent working file, as you can imagine, because it\u2019s literally just like you got out of high school or college, right? That\u2019s kind of what we\u2019re doing.<br \/>\n2:08:13<br \/>\nUm, so anyways.<br \/>\n2:08:15<br \/>\nI would. I would recommend it.<br \/>\n2:08:17<br \/>\nfor some people that have, uh, just no other real option now, some people just want to do it because it sounds cool.<br \/>\n2:08:27<br \/>\nI don\u2019t recommend that.<br \/>\n2:08:28<br \/>\nI really don\u2019t prefer that.<br \/>\n2:08:29<br \/>\nI mean, I\u2019ll walk you through the steps but I almost always find an alternative.<br \/>\n2:08:36<br \/>\nSo if you think having a CPM is good idea because you want to maybe create a straw person, which is a big, a big project, um, And I\u2019ve never done it, By the way.<br \/>\n2:08:45<br \/>\nI\u2019ve done it for people.<br \/>\n2:08:47<br \/>\nWhen they needed it, but I don\u2019t need to do it for myself. If I want a straw person, I\u2019ll just set up a company. I don\u2019t need to create a fake name or something like that.<br \/>\n2:08:55<br \/>\nUm, but yeah, if your credit is really bad, or something, and there\u2019s a real good use case.<br \/>\n2:09:01<br \/>\nSure.<br \/>\n2:09:04<br \/>\nNo, I just kinda recommend against it.<br \/>\n2:09:06<br \/>\nSorry. Sorry to give such a long answer.<br \/>\n2:09:10<br \/>\nOK, yeah, I\u2019m glad. I\u2019m glad it helps. I appreciate your comments. I\u2019m glad your situation.<br \/>\n2:09:15<br \/>\nLet me know if you need some details on something, but Transfer House into an LLC, as long as there\u2019s no judgement, you can do it with a judgement.<br \/>\n2:09:21<br \/>\nThat\u2019s the whole thing.<br \/>\n2:09:22<br \/>\nI mean, there\u2019s a law called the Fraudulent Conveyance Act.<br \/>\n2:09:27<br \/>\nIt\u2019s national, but each State has its own version of that law. I think it\u2019s even yeah, it\u2019s it\u2019s adopted in all the States. There is no fraudulent conveyance when the creditors not prejudice, and the reason why the creators not prejudice.<br \/>\n2:09:40<br \/>\nWhen you transfer real estate from your name, where you have it, a judgement lien against yourself or tax lien to the LLC, the reason why there\u2019s no prejudice to the creditor is because once the lien is filed, it attaches wherever that debtor transfers the property interest.<br \/>\n2:09:56<br \/>\nSo they might scare you. It\u2019s a fraudulent conveyance. But it\u2019s not because his Lean interests are not being prejudiced, because the other laws on the books that say, that lien attaches to the new owner.<br \/>\n2:10:11<br \/>\n****, When a cash out from crypto, what would be an amount not to raise red flags. Where are these red flags?<br \/>\n2:10:19<br \/>\nWhere are they?<br \/>\n2:10:21<br \/>\nI would love to see some where you have problems with not red flags, but transferring money is if it\u2019s an irregular transaction, OK? And I know if you just got a new windfall and you send a million bucks to yourself.<br \/>\n2:10:35<br \/>\nYeah, OK, that\u2019s irregular.<br \/>\n2:10:36<br \/>\nAnd, sure, the bank might hold the transaction and want to make you answer some questions.<br \/>\n2:10:41<br \/>\nIf that\u2019s the case.<br \/>\n2:10:43<br \/>\nIf I anticipate that, I would probably send $100,000 first, and then I would send another $100,000, whatever.<br \/>\n2:10:50<br \/>\nBut FinCEN is your biggest enemy here. It\u2019s not red flags.<br \/>\n2:10:53<br \/>\nFinCEN, realistically, Financial Crimes Network, the presumption that you\u2019re involved in money laundering.<br \/>\n2:10:58<br \/>\nNow, that agency is enforced through the IRS, it does not have its own enforcement agency.<br \/>\n2:11:05<br \/>\nFinCEN enforces or sites people for criminal violations and civil violation. So that kind of scares me, not that you guys should be concerned. It\u2019s just that when I have a client in situation, it involves FinCEN.<br \/>\n2:11:18<br \/>\nI do things a little bit differently to get them out of that situation, but, yeah, they\u2019ll just get a fool with your money.<br \/>\n2:11:24<br \/>\nOne million dollars is like $23 million, These guys don\u2019t. It\u2019s not that.<br \/>\n2:11:29<br \/>\nIt\u2019s if you\u2019re doing something like, let\u2019s say you\u2019re just getting a regular paycheck every day and then all of a sudden, maybe you get a birthday gift of cash from your Uncle Bob. And it\u2019s three times a paycheck and you put it in with your paycheck.<br \/>\n2:11:42<br \/>\nHere\u2019s what might happen electronically, the software that is looking at your account may create a FinCEN report and send it electronically to an agent at FinCEN. It may go through a screening process.<br \/>\n2:11:56<br \/>\nAnd then nothing else happens.<br \/>\n2:11:59<br \/>\nBecause it was an unusual transaction, but it fell within a certain threshold. Now, I\u2019m just guessing, because I am, I understand risk management systems like this that I\u2019ve worked with for many years. I\u2019m just guessing what FinCEN does? No one\u2019s ever going to know because it\u2019s a police function. So they\u2019re not going to tell us they can\u2019t.<br \/>\n2:12:15<br \/>\nUm, but we probably have all had FinCEN reports at one time or another that we\u2019ll never know about. And just like that does tread transaction I just told you about, you probably will get one and you\u2019ll never know about it. Now maybe if it\u2019s a larger amount of money.<br \/>\n2:12:29<br \/>\nMaybe if you\u2019ve never put a million dollars in your account, you put a million dollars in your account.<br \/>\n2:12:32<br \/>\nMaybe your bank might get a phone call from FinCEN.<br \/>\n2:12:37<br \/>\nThe person, or real agent at FinCEN may tell the bank, Hey, can you send us the account details here?<br \/>\n2:12:43<br \/>\nRemember, all that stuff, we give the bank when we open the account, they\u2019re going to see all that, No problem, that\u2019ll cover you.<br \/>\n2:12:49<br \/>\nAnd they\u2019re gonna say, That doesn\u2019t look like a money launderer to us. And you\u2019re, you\u2019re probably not gonna hear about it. You. I\u2019ve never had a client in so many years.<br \/>\n2:12:57<br \/>\nUm, ever say, even before FinCEN was created, I\u2019ve never had a problem where, and I\u2019ve had clients. Not a lot. But a handful where there\u2019s been large amounts of money in irregular amounts. And there were these scrutinies and things going on. And it\u2019s mostly manual those times in the nineties, and early two thousands.<br \/>\n2:13:13<br \/>\nI\u2019ve never really had a problem with any of this stuff, except where the bank just wants to freeze the money and, and trade on it, and claim that there\u2019s some reason why it needs to freeze the transaction.<br \/>\n2:13:26<br \/>\nBut, if you guys see those red flags out there, let me know.<br \/>\n2:13:31<br \/>\nYeah, thanks, I\u2019m glad I\u2019m glad my voice is hanke hung in there, so.<br \/>\n2:13:37<br \/>\nAnd so there is, let\u2019s see, one more person here, Dmitriy, would you want to ask, just quickly jump, So, going forward, since, you know, people are going to start taking profits. It looks like the criminals are taking off before they possibly come down again if somebody wants to hire or consult with you so that you can help them out of a situation they may be stuck in.<br \/>\n2:14:02<br \/>\nWhat\u2019s the best way to contact you, where we can get hired on as, you know, to help us transition through?<br \/>\n2:14:08<br \/>\nLet\u2019s say, buying, and you want to put the wholesomeness, But, you know, things that we\u2019re not familiar with.<br \/>\n2:14:13<br \/>\nHow, what? OK, what\u2019s because I don\u2019t? I don\u2019t I mean?<br \/>\n2:14:16<br \/>\nI talk to you several times, but other than the LLC, and how do you get a hold of you?<br \/>\n2:14:22<br \/>\nSort of how quickly, you know, OK, now this, this helpdesk is set up, I\u2019m gonna have some avenue where people can do that. They\u2019re not clients never heard of me and said, Oh, I gotta get SSI question I\u2019m going to have that set up so yeah, I\u2019m just going to tell you right now. It\u2019s going to be that helpdesk.<br \/>\n2:14:37<br \/>\nIf you did that today, I would get the message within minutes.<br \/>\n2:14:41<br \/>\nIt\u2019s not yet automated.<br \/>\n2:14:42<br \/>\nIt will be but yeah, that\u2019s probably the best way to go.<br \/>\n2:14:45<br \/>\nOK, and that\u2019s an ace of coins You said right instead of coins.<br \/>\n2:14:48<br \/>\nYes OK, hmm, hmm, hmm, Sure.<br \/>\n2:14:52<br \/>\nI\u2019m going to mention one more thing and then we\u2019ll end the call Thanks so much for your participation. You guys did great. I always love your questions there. Great as, helps everyone else, too.<br \/>\n2:15:04<br \/>\nI am going to do continue to do these calls.<br \/>\n2:15:06<br \/>\nBut intermittently I\u2019m going to insert a call where it\u2019s on a different platform with my partners and it\u2019s a paid call.<br \/>\n2:15:15<br \/>\nAnd it\u2019s some of the material that I\u2019ve never published before.<br \/>\n2:15:18<br \/>\nBecause some of you have asked me for it and I believe it\u2019s time to publish some of that stuff.<br \/>\n2:15:22<br \/>\nI believe it\u2019s going to help people.<br \/>\n2:15:23<br \/>\nAnd I really hope that people want to use it, Like I have been using it over the years, so I may do just a series of those calls.<br \/>\n2:15:30<br \/>\nI\u2019m not going to do too many of those, and I probably will not make it available on the members area. Just yet, I\u2019m not sure yet. But just so you know, that may come out pretty soon. Um, I think it\u2019s gonna be pretty reasonable.<br \/>\n2:15:41<br \/>\nBut, um, I just want, I just want to change the format just a little bit. I\u2019m also, I don\u2019t like the idea that, and I appreciate people\u2019s patience, but I don\u2019t like the idea that someone wants to talk to me, and he has to wait three months, it\u2019s, nobody\u2019s fault, but just how the things work.<br \/>\n2:15:55<br \/>\nSo, what I\u2019m thinking is, if I have these calls on a group, on a group level, instead of paying for my one-on-one consultation, if you\u2019re willing to pay for a less lesser amount, and come in with a group and like we\u2019re doing now. I think that may help a lot more people get answers.<br \/>\n2:16:11<br \/>\nBy the way, I am working on There is one more thing I will tell you, I am working on.<br \/>\n2:16:16<br \/>\nI bring on the call here to join me, to talk with you all a business broker.<br \/>\n2:16:22<br \/>\nAnd I want to discuss the process by which you would work with the broker, and yeah, I\u2019m going to ask them to promote the service. I don\u2019t even know who it is going to be yet.<br \/>\n2:16:32<br \/>\nUm, just so you get an idea of how that kinda flows. So that may help you answer the question is of, OK, I\u2019ve got $3 million here, and when I buy this thing over here, how do I get there? Do I have to call John all the time?<br \/>\n2:16:46<br \/>\nMaybe, but there\u2019s this method out here. OK, and I want to introduce you guys to that, that method, OK.<br \/>\n2:16:53<br \/>\nAlright, well, thanks so much again, and appreciate your participation.<br \/>\n2:16:56<br \/>\nY\u2019all, enjoy your weekend!<\/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-30fe979 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"30fe979\" 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-cc42916\" data-id=\"cc42916\" 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-73b8071 elementor-widget elementor-widget-spacer\" data-id=\"73b8071\" 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-fdf0aab elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fdf0aab\" 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-0fede35\" data-id=\"0fede35\" 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-ed531ee elementor-widget elementor-widget-text-editor\" data-id=\"ed531ee\" 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. John Jay addressed listeners on a privacy-themed talk show, discussing various aspects of setting up an LLC, addressing privacy concerns and detailing financial strategies.<br \/>2. He addressed common questions about LLCs, emphasizing that these concepts might not be immediately clear and promising to discuss them in future sessions.<br \/>3. Jay stressed the importance of proper documentation, explaining the use of IRS Form W-9 when establishing a new company and setting up a cash flow system.<br \/>4. The host discussed the pros and cons of using an escrow service for cash flow clearance in the absence of an LLC.<br \/>5. Jay provided advice on keeping LLCs in good standing, discussing potential penalties, and strategies to avoid them.<br \/>6. He discussed the state of the real estate market, calling it &#8220;wonky&#8221;, and suggested listeners diversify their investments.<br \/>7. Jay discussed the process of setting up an LLC and gave detailed advice on filling out Form W-9, while also explaining how to handle different addresses and brokerage accounts.<br \/>8. He provided a detailed walkthrough on dealing with banks and ensuring the security and privacy of transactions, emphasizing the importance of proper documentation.<br \/>9. Jay explained the legal aspects of notarization, discussing how certain documents should be handled and how to avoid potential issues.<br \/>10. The discussion closed with Jay offering advice on wealth management, using LLCs and Private Membership Associations (PMAs) to ensure proper distribution of assets, and how to handle tax obligations.<\/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-1991d81 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1991d81\" 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-8bfa510\" data-id=\"8bfa510\" 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>U47 &#8211; Sept 2, 2021 Thursday Evening with John Jay<\/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\/18586"}],"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=18586"}],"version-history":[{"count":7,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/18586\/revisions"}],"predecessor-version":[{"id":25620,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/18586\/revisions\/25620"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=18586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=18586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=18586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}