{"id":19688,"date":"2021-10-16T22:10:53","date_gmt":"2021-10-17T02:10:53","guid":{"rendered":"http:\/\/privacyfight.io\/?p=19688"},"modified":"2023-06-26T05:48:58","modified_gmt":"2023-06-26T09:48:58","slug":"u53-thursday-evening-chat-september-2-2021","status":"publish","type":"post","link":"https:\/\/privacyfight.io\/u53-thursday-evening-chat-september-2-2021\/","title":{"rendered":"U53 &#8211; Thursday Evening Chat September 2, 2021"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"19688\" class=\"elementor elementor-19688\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c91d818 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c91d818\" 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-ca65f8c\" data-id=\"ca65f8c\" 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-0389000 elementor-widget elementor-widget-text-editor\" data-id=\"0389000\" 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\/725270824\/?\" 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            0:02\r\nHello, everyone, This is John. Jay, September second.\r\n0:06\r\nThanks for joining, OK. I&#8217;m sorry about that. Let&#8217;s see.\r\n0:11\r\nYeah, if you can&#8217;t join, I don&#8217;t know. Someone was telling me that She cannot click the link to join, so please just use the phone number. I&#8217;m sorry about that.\r\n0:19\r\nW&#8230;        <\/div>\r\n        <div class=\"vidseo_collapse_content\" style=\"\">\r\n            <p>0:02<br \/>\nHello, everyone, This is John. Jay, September second.<br \/>\n0:06<br \/>\nThanks for joining, OK. I&#8217;m sorry about that. Let&#8217;s see.<br \/>\n0:11<br \/>\nYeah, if you can&#8217;t join, I don&#8217;t know. Someone was telling me that She cannot click the link to join, so please just use the phone number. I&#8217;m sorry about that.<br \/>\n0:19<br \/>\nWe have a storm here, I&#8217;m in Florida, so sometimes we get disconnected.<br \/>\n0:22<br \/>\nIn situations like that. So if that happens, I&#8217;m gonna 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, No, it&#8217;s 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, but then 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&#8217;m sorry about that. And then sometimes it&#8217;s 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&#8217;re not sure which way to go sometimes, so I just want to cover some of those.<br \/>\n1:03<br \/>\nWe&#8217;ll find points maybe the EIN application process, maybe I should do a video on it, but I haven&#8217;t, I&#8217;ve put that off, because Aye.<br \/>\n1:13<br \/>\nActually, the form changes, and it doesn&#8217;t change that much.<br \/>\n1:16<br \/>\nBut there&#8217;s so many different ways to get the answer to the bottom line is I&#8217;m 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&#8217;t care how you got it, I don&#8217;t care if you say it&#8217;s a single member multi-member, whatever, as long as it&#8217;s an LLC with an EIN, You&#8217;re good to go.<br \/>\n1:43<br \/>\nAll right. I&#8217;m sorry about that. I&#8217;m going to I&#8217;ll have to give you the recording.<br \/>\n1:48<br \/>\nOh, gosh, I&#8217;m sorry.<br \/>\n1:54<br \/>\nThat&#8217;s the only person I&#8217;ll have one person.<br \/>\n1:56<br \/>\nIt looks like one person who says she can&#8217;t join, so I will try to make it up to you in any case. So I&#8217;ll start with the basic things. Also the W nine, I want to explain.<br \/>\n2:07<br \/>\nSo let me just start with a, I&#8217;ll just start listing these topics and then you guys can ask me some questions, and then we&#8217;ll we&#8217;ll maybe get into some allocation ideas. That&#8217;s gonna be an ongoing project.<br \/>\n2:17<br \/>\nI mean, really, you can see, we have a membership area. So there&#8217;s a couple of different businesses going on. We have different, let&#8217;s say, cost centers and work. We&#8217;re trying to merge them right now, but, um, I get, I set this up through Joint Venturing. So it looks a little broken apart. But 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.<br \/>\n2:42<br \/>\nBut what happens if your disappear something, I can&#8217;t 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&#8217;s my idea there.<br \/>\n2:51<br \/>\nAlso, now, with this new helpdesk, which I&#8217;ll 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&#8217;re gonna set it up for like 90 days.<br \/>\n3:05<br \/>\nThat should be enough to get you everything you need, and, no.<br \/>\n3:08<br \/>\nThere&#8217;s 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&#8217;ll find it if you go to &#8230; dot com.<br \/>\n3:20<br \/>\nIt&#8217;s a little blue thing down there just says Help. The question mark.<br \/>\n3:24<br \/>\nI think it floats around on the website to that. It is not located somewhere on the page.<br \/>\n3:29<br \/>\nIt&#8217;s 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, And 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&#8217;m the same way. I don&#8217;t 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&#8217;s just a matter of me staffing that, and I want to go slow and make sure I have people that I can rely on. And 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 S U, If they don&#8217;t know the answer. OK, we&#8217;re not trying to do that, so I want to make sure we get those people there, but, in case, so, &#8230;<br \/>\n4:17<br \/>\ndot com, there&#8217;s a helpdesk there, try that out, ask a question, and see how that works. It will be kind of a slow response, that&#8217;s at the start. But it&#8217;ll be a nice way to centralize those types of questions. And then also, there&#8217;s going to be materials and articles in the FAQ, let&#8217;s 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, as part of begetting aspects, when we&#8217;re 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&#8217;re 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 penalty of perjury using Form W nine. It&#8217;s an IRS form and that may sound kinda scary and intimidating.<br \/>\n5:11<br \/>\nI really don&#8217;t like dealing with the IRS, but this is a way to not deal with the IRS from what I&#8217;ve found over the years, because if you don&#8217;t use this W nine form, and you can find it on the internet, just search form W nine, it&#8217;s a PDF. I think the latest revision is 2018, and that&#8217;s perfectly fine.<br \/>\n5:25<br \/>\nUm, the reason why we do that is so that we say, 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&#8217;re using your SSN to sign for the LLC at whatever. Exchange your bank, does not create a liability at all whatsoever, you&#8217;re not tied to the money, you&#8217;re not tied to the company that does, not that, it&#8217;s just that you&#8217;re signing for a company.<br \/>\n5:49<br \/>\nIt&#8217;s not your property, except if you designate it that way in the articles, which I don&#8217;t 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 &#8230; correct, I don&#8217;t 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&#8217;s a reason why I haven&#8217;t written that way. The abstract documents, I give you are specifically for the bank.<br \/>\n6:29<br \/>\nThese are not binding on anyone, This is enough to get your account open, and over the years, I&#8217;ve 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&#8217;s working. Pretty good.<br \/>\n6:46<br \/>\nI know we do have some friction because of the way these are written, especially if we&#8217;re going to use a trust or an Unincorporated or unregistered Association as the the single member manager of the LLC.<br \/>\n6:58<br \/>\nSo we do that. So that&#8217;s why that may explain.<br \/>\n7:01<br \/>\nSome of the things that are mmm hmm.<br \/>\n7:04<br \/>\nContradictory!<br \/>\n7:05<br \/>\nSo I might say it&#8217;s a single member when it&#8217;s when it&#8217;s not, or I might say it&#8217;s a multi-member when it&#8217;s not, it just depends on your situation.<br \/>\n7:13<br \/>\nSo I make sure that it&#8217;s going to fit what you want to do, and it&#8217;s going to get your accounts open quickly.<br \/>\n7:19<br \/>\nI mean, it&#8217;s not like I don&#8217;t want you to call me, but I don&#8217;t want you to be frustrated, you know, to try to get the accounts open. So there&#8217;s 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&#8217;s a link in the readme first file, and maybe I should put more information there, but I&#8217;m trying to avoid this, making that into an 80 page document. It&#8217;s just, you know, I&#8217;m trying to make it as brief as I can, and I&#8217;m trying to use the video content, so I can actually make this kind of like a college course. But anyways, in there, there&#8217;s 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&#8217;s social security number to get an EIN, Um, if you&#8217;re 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&#8217;s why he&#8217;s willing to do it. That person does it professionally.<br \/>\n8:24<br \/>\nI don&#8217;t like to do it that way, I&#8217;d rather have more autonomy with my client, and I don&#8217;t 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&#8217;m glad they&#8217;re out there, and the people that get &#8230; for, for others.<br \/>\n8:43<br \/>\nSo, that&#8217;s 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 the LLC, that is an engine the name, Landry, that, we&#8217;re gonna get your document.<br \/>\n8:59<br \/>\nSo, I see you posted a couple of times, I&#8217;m sorry for the delay. But we just wanna make sure we get everything right.<br \/>\n9:04<br \/>\nSo, we&#8217;ll send that over shortly. We&#8217;re gonna get to some of these questions, I&#8217;m sorry, if I go to lunch. So &#8230;<br \/>\n9:09<br \/>\napplication, Debbie nine&#8217;s, those are the basic things. I know, y&#8217;all 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&#8217;re 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, so. um, I mean I know you you all know about that. So I like him around because there&#8217;s no question about reporting as of yet. I don&#8217;t, I don&#8217;t see that in the near future either.<br \/>\n9:36<br \/>\nBut again, if you&#8217;re using an LLC, that&#8217;s going to cover you and the service that I have, that&#8217;s actually an escrow service that will clear funds, you don&#8217;t need to use it. If you have an LLC the way I&#8217;m setting it up, you can actually clear the fund yourself.<br \/>\n9:49<br \/>\nThis is for people that don&#8217;t 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&#8217;t take the real estate in your name.<br \/>\n10:04<br \/>\nOr if you structured with a loan, you&#8217;ll be fine, and that way, I&#8217;m 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&#8217;t like to think that I&#8217;m the only guy that can set this up. You know, it is a pretty good system, but there are options to do this.<br \/>\n10:23<br \/>\nSo, anyways, with that, I don&#8217;t know what else.<br \/>\n10:26<br \/>\nWe could probably want you guys bring up some questions because of the, the different exchanges and how they ask you.<br \/>\n10:31<br \/>\nAnd lately, I&#8217;ve 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&#8217;re gonna open a business account. And the way this is written, OK, the way the, the abstract is written, the way the articles are worried, about 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&#8217;ve written it in a way 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&#8217;re 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&#8217;re, you&#8217;ve already decided to manage risk, and it has no idea what risk you&#8217;re seeking to manage, right?<br \/>\n11:23<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 risks that I was managing. By the way, I had it set up originally, and you don&#8217;t know what that risk is. It&#8217;s an unknown risk, so it doesn&#8217;t make any sense, and they actually can&#8217;t do it anyways. It&#8217;s outside of their charter.<br \/>\n11:40<br \/>\nSo I mean, I&#8217;m not trying to be argumentative with people.<br \/>\n11:43<br \/>\nBut I want to make the point that I want you to know that you have the authority, that you&#8217;re the boss, It&#8217;s your company, you&#8217;re liable for everything you&#8217;ve chosen to make Manage risk a certain way.<br \/>\n11:53<br \/>\nAnd some bank employee, I don&#8217;t care what he says about, this is our policy.<br \/>\n11:57<br \/>\nThat&#8217;s a business, too, Just like yours is.<br \/>\n12:00<br \/>\nHe doesn&#8217;t get to tell you how to run your business. Now, of course, you can say, go somewhere else, and in which case, I would.<br \/>\n12:07<br \/>\nThere are still options, and I think we&#8217;re in the last days of that business, I think, where we&#8217;re 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&#8217;re having with exchanges. Let me get to the chat window here real quick and see if I don&#8217;t wanna miss anybody.<br \/>\n12:26<br \/>\nAll right, sometimes I&#8217;m slow on unmuting, all right, so Yep, yeah, I&#8217;m trying to, OK, let&#8217;s see here. Scheduler.<br \/>\n12:41<br \/>\nOK.<br \/>\n12:44<br \/>\nDon&#8217;t 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&#8217;s many, there&#8217;s many options there. See?<br \/>\n13:07<br \/>\nYeah, OK. So anytime you&#8217;re using money from wherever to pay off debts, that&#8217;s just income. So just, that&#8217;s fine. You already understand that, no problem there.<br \/>\n13:16<br \/>\nWhat we&#8217;re, what we&#8217;re really doing, I think, is, it&#8217;s kind of 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&#8217;s not in my name and that I don&#8217;t have the exclusive rights over, but yet, I still control it, my personal liability can never reach into that thing that I&#8217;m creating. So, I want $5 million net worth. I want a $50 million net worth over there. I don&#8217;t need to have that on my Balance Sheet.<br \/>\n13:43<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&#8217;t go less than that, not legitimately, that&#8217;s going to cause an audit.<br \/>\n14:09<br \/>\nWith that being said, I just want to let you guys, um, if we could, I&#8217;m going to try to call on you.<br \/>\n14:14<br \/>\nOK, so Dmitri&#8217;s already raise your hand, so.<br \/>\n14:19<br \/>\nGo right ahead, Demeter Hey John. How are you? Sort of talked too much, so I show No, no, no, Not at all! Kidding! I love it. OK?<br \/>\n14:29<br \/>\nSo, really quickly, really stupid question but basically, I never renewed my LLC from when we opened it last April just because I&#8217;ve 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&#8217;t lapsed? What state is it in?<br \/>\n14:49<br \/>\nOhio: OK, that one, OK, if it&#8217;s that new and you want to, you want to have it in good standing for some reason, Because you don&#8217;t have to, but if you want to keep it in good standing And it&#8217;s just expired, like a couple of months ago, or even within the year.<br \/>\n15:00<br \/>\nSo you&#8217;re out approaching the second year and it expired after that first year.<br \/>\n15:04<br \/>\nIt&#8217;s, maybe you might have a small penalty, like $25 fee, OK.<br \/>\n15:09<br \/>\nIn Ohio, I think it&#8217;s $99, and then you send them your articles.<br \/>\n15:13<br \/>\nAgain, your annual report, OK, that&#8217;ll keep it in good standing.<br \/>\n15:16<br \/>\nNow, if it&#8217;s like five years old, I probably would just set up a new company because I&#8217;m cheap. So I&#8217;m not going to, Like, the fees might be $1100 at that point, Right? So, it&#8217;s way cheaper, just set up a whole new company.<br \/>\n15:27<br \/>\nOK, it&#8217;s under a year, it&#8217;s only a few months, but do we want it? And That&#8217;s what I&#8217;m 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&#8217;s crossed? And the I&#8217;s dotted yeah. Here&#8217;s, here&#8217;s a way to make that decision.<br \/>\n15:45<br \/>\nIt&#8217;s kind of a nuisance to deal with that. It&#8217;s OK, though, I mean, it&#8217;s 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&#8217;re going to use it for new relationships, like a new lease agreement, a commercial lease agreement, maybe you&#8217;re gonna do that next year. It&#8217;s a good sending this year, but the second year of your LLC, you&#8217;re going to do something with it. You&#8217;re 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 with their businesses.<br \/>\n16:15<br \/>\nBut, if you&#8217;ve already got, let&#8217;s say, two business accounts open, and you&#8217;ve got a couple Exchange accounts open, and that&#8217;s all you&#8217;re going to use it for, you don&#8217;t need to keep it in good standing.<br \/>\n16:24<br \/>\nI can tell you right now, I&#8217;ve got one company that I use as my core cashflow and I think, I&#8217;ve been using it for 17 years.<br \/>\n16:31<br \/>\nAnd it was a Delaware company I setup way, long time ago, and it&#8217;s been expired ever since.<br \/>\n16:36<br \/>\nI&#8217;ve never paid a fee after the first year, and I&#8217;ve run millions of dollars to there.<br \/>\n16:40<br \/>\nSo you shouldn&#8217;t have any problem at all? I mean. But again, If I tried to go, here&#8217;s 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&#8217;m in Illinois. Right? And I just finally found a bank that I can work with. And if I can add my 2%, I&#8217;ve been trying to, chase to know when banks, OK, yeah, I&#8217;ve had a lot of people want, they want me to declare that I&#8217;m part owner, or what my percentage of ownership.<br \/>\n17:13<br \/>\nYeah, and so I couldn&#8217;t 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&#8217;t care anything. All she put me down was as a signature. She said, Yeah.<br \/>\n17:28<br \/>\nWe don&#8217;t 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&#8217;s what they opened up. They didn&#8217;t give me a problem. So that&#8217;s nice. And they didn&#8217;t look, OK, cool, but it&#8217;s the same.<br \/>\n17:48<br \/>\nYou know, the deal is, So, any new deal. Any new contracts. Yeah, they want to in good standing, but that&#8217;s 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&#8217;m 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&#8217;ll act only on that paper copy, I don&#8217;t think they&#8217;re gonna look it up to see if it&#8217;s still valid.<br \/>\n18:16<br \/>\nI don&#8217;t think they do that, OK, Yeah, and that&#8217;s it. Yeah, I&#8217;m glad you made that comment, because the percent ownership.<br \/>\n18:23<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&#8217;t 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&#8217;t have a 25% ownership. This organization has 100% ownership.<br \/>\n18:49<br \/>\nI&#8217;m not required to go gain an ownership. Just like IBM&#8217;s accountant, who has asked to open a bank account for IBM, in a new town, they&#8217;re opening in right.<br \/>\n18:58<br \/>\nThe bank can&#8217;t tell him, you have to acquire some IBM stock.<br \/>\n19:04<br \/>\nI mean, I&#8217;m saying that to you so that you can have a language, you know, to have a conversation because the person you&#8217;re talking to might say, oh, that&#8217;s a good point. I haven&#8217;t thought about that. Let me check and make sure.<br \/>\n19:13<br \/>\nAnd then that person we&#8217;ll call somebody say yeah, it doesn&#8217;t make sense, You know?<br \/>\n19:18<br \/>\nI might prompt him, but you never have to take ownership.<br \/>\n19:23<br \/>\nYou&#8217;re trying not to I mean, if you want an ownership, If I have a situation where I need two people to be, members will fine, It&#8217;s 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, um, know, I was talking with you before and when I think of allocation, I think about, OK, if I have, you know, $3 million, I don&#8217;t want to allocate.<br \/>\n20:05<br \/>\nI mean, I&#8217;d do it in between, and in real estate, I put some in maybe gold and precious metals and then I will diversify small 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&#8217;s problematic because, really, I mean, that&#8217;s where, ah, that&#8217;s where a lot of the windfall can go.<br \/>\n20:36<br \/>\nBut, but, prices are so high and I think there&#8217;s a shake out.<br \/>\n20:44<br \/>\nYeah. Coming in.<br \/>\n20:45<br \/>\nSo, I&#8217;m 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 \/>\nAnd, are they like speculating and doing derivatives? I mean, they have to have their stuff someplace else. And then the last thing I&#8217;ll just say is, I don&#8217;t want millions of dollars in the bank because the dodd frank Act Yeah. So, that&#8217;s not vigorous Smart.<br \/>\n21:10<br \/>\nI ever wanted to do that. Yeah.<br \/>\n21:12<br \/>\nI don&#8217;t ever want I just always have assets and cashflow and yeah, separate everything out.<br \/>\n21:18<br \/>\nSo, come, I stepped on who&#8217;s buying up the property but this is my conspiracy theory.<br \/>\n21:25<br \/>\nSo it&#8217;s probably close. I can tell you who it is it&#8217;s, it&#8217;s it&#8217;s black, Black rock, right? None of those guys, right? It&#8217;s the largest singular. It.<br \/>\n21:35<br \/>\nYeah. Yeah. There&#8217;s 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 \/>\n21:53<br \/>\nThere&#8217;s 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 \/>\n22:08<br \/>\nHave private ownership of real estate, let&#8217;s say residential, so that you and I can&#8217;t own it.<br \/>\n22:16<br \/>\nAh.<br \/>\n22:17<br \/>\nSo, it&#8217;s a longer on the market. Ever.<br \/>\n22:21<br \/>\nYeah, that&#8217;s what&#8217;s happening.<br \/>\n22:22<br \/>\nThey&#8217;re buying it all up, they&#8217;re using, they&#8217;re going to need to do it, to destroy the dollar at the same time, they&#8217;re using our money to do that.<br \/>\n22:30<br \/>\nYeah, Got it.<br \/>\n22:33<br \/>\nAnd you&#8217;re right, it&#8217;s never going to go back on the market.<br \/>\n22:36<br \/>\nThat&#8217;s the plan, I think. Yep.<br \/>\n22:38<br \/>\nYeah. But, we have a feudal system. People haven&#8217;t 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&#8217;s you don&#8217;t own anything.<br \/>\n22:50<br \/>\nWe&#8217;re 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, That we did have kind of in a low dual system.<br \/>\n23:03<br \/>\nHa ha, It was hammered down into what we have now, so yeah, it&#8217;s going to be more and more obvious to people that they cannot own anything.<br \/>\n23:11<br \/>\nSo, at any price, it won&#8217;t be for sale. So, what do you do?<br \/>\n23:14<br \/>\nI mean, you can still do it. I mean, the evil money is out there, they&#8217;re not going to own everything. But they&#8217;re gonna make it real difficult for people.<br \/>\n23:21<br \/>\nI mean, as they already have, I mean, right now, you see, I&#8217;m telling a tenant, so you don&#8217;t have to pay your rent. But, then, the owner has to pay the mortgage.<br \/>\n23:29<br \/>\nYeah, does that tell you?<br \/>\n23:31<br \/>\nSo, that&#8217;s kinda scary.<br \/>\n23:32<br \/>\nResidential is, I&#8217;ve real estate investor friends, and they&#8217;re saying, You know, residential, I would rather go and residential and commercial.<br \/>\n23:39<br \/>\nWell, that&#8217;s kind of an obvious because if I drive around town, I see, yeah, you know, vacancy rates are 80% very easily, even even gosh, Next year it&#8217;s going to be Or it&#8217;s going to be bad.<br \/>\n23:50<br \/>\nSo, anyway, Marshall.<br \/>\n23:52<br \/>\nCommercial, Yeah, Commercial, office, business?<br \/>\n23:55<br \/>\nNo, retail, really? I mean, I think that&#8217;s 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.<br \/>\n24:04<br \/>\nI don&#8217;t know if you guys see this, but in Florida where I live in Orlando, I see brand-new facility is going up, so who&#8217;s What kind of money is that? I don&#8217;t know.<br \/>\n24:12<br \/>\nBut it&#8217;s too risky for me, because I can&#8217;t see a use case that&#8217;s different enough than the traditional use case, because of the traditional use case is being destroyed.<br \/>\n24:23<br \/>\nRight?<br \/>\n24:24<br \/>\nRestaurants, strip malls, shopping centers, traditional use case. What do you do now?<br \/>\n24:28<br \/>\nBecause, here&#8217;s a trend now.<br \/>\n24:32<br \/>\nAnd I have a lot of clients, I&#8217;m working with them, the situation they&#8217;ve gotten, they were destroyed in the strip mall area, and they&#8217;re able to move their operations, their retail operation, into their garage.<br \/>\n24:42<br \/>\nAnd it actually works for them.<br \/>\n24:43<br \/>\nIt&#8217;s not the best situation, but it actually will work. It&#8217;s like, it&#8217;s 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 \/>\n24:56<br \/>\nSo, Yeah.<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&#8217;t have to pay your mortgage, then what&#8217;s like, what are, what&#8217;s 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&#8217;ll, they&#8217;ll continue that. Yeah, I believe that&#8217;s a very brief way of looking at it as a jury, generalized way, but I think it&#8217;s 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 the &#8230;.<br \/>\n25:40<br \/>\nShe&#8217;s on it, and she&#8217;s not going to tell you everything. You can tell.<br \/>\n25:44<br \/>\nShe knows way more than she&#8217;s saying, but, uh, she says enough.<br \/>\n25:47<br \/>\nSo if you&#8217;re 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&#8217;s, 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&#8217;re proficient in. Hopefully it&#8217;s, you got both there. If not, you can work through that. If you don&#8217;t have anything like that.<br \/>\n26:26<br \/>\nLet&#8217;s say you&#8217;re proficient in something and you just hate it and then you&#8217;re willing to get into something new. You can always partner with somebody.<br \/>\n26:33<br \/>\nNo, And that&#8217;s 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. That could be a brick, and mortar could be a restaurant, maybe your best friends owned a restaurant for 20 years and it&#8217;s just booming, and you see it, no, end in sight Heck, Yeah. Because, what&#8217;s 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 \/>\n26:55<br \/>\nSo, for a quarter, million dollars, you know, and maybe he doesn&#8217;t want too much.<br \/>\n26:59<br \/>\nMaybe you have three million, and he won&#8217;t take, but he won&#8217;t take more than a quarter million.<br \/>\n27:04<br \/>\nSo, you gotta think about, because you want to spend 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&#8217;d 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&#8217;s a notebook and a column down the middle and say, Real Estate.<br \/>\n27:28<br \/>\nSo, here&#8217;s 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 gotten all this stuff, right, this is lending.<br \/>\n27:52<br \/>\nSo, there&#8217;s all kinds of things.<br \/>\n27:54<br \/>\nYou mean, it&#8217;s, it&#8217;s, there&#8217;s wholesaling, I mean, gosh, there&#8217;s so many things you can do, so go through all that. So when you get into real estate, and you&#8217;re, 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&#8217;t You don&#8217;t diversify by put, just throwing money everywhere. That looks interesting.<br \/>\n28:19<br \/>\nYou to vet you, diversify, diversify in where you are. For example, the one I always give is the couple 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&#8217;re like, OK, we&#8217;re at a point now where we want to think about what you&#8217;re mentioning earlier.<br \/>\n28:38<br \/>\nHow do we enhance our investment in the sandwich shop?<br \/>\n28:42<br \/>\nI said, Well, diversify and that doesn&#8217;t 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&#8217;s kinda crazy. I can&#8217;t rely on that guy. I think he has a problem.<br \/>\n29:12<br \/>\nWhat if it&#8217;s 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&#8217;m renting the sandwich shop, right?<br \/>\n29:23<br \/>\nAnd finally, building, buy the building.<br \/>\n29:26<br \/>\nAnd it&#8217;s not hard to do that. You can, I&#8217;m not saying, it&#8217;s, 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&#8217;s say I was going to do that and let&#8217;s say them all $7 million.<br \/>\n29:46<br \/>\nSo I make an offer on that. And maybe the seller. He&#8217;s willing, he&#8217;s like, OK, yeah. Maybe it&#8217;s 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&#8217;s good for whatever term you know, and the reason why I get an options contract because I&#8217;m not coming up with $7 million.<br \/>\n30:03<br \/>\nI&#8217;m gonna go find some other people that want to come in with me, they&#8217;re gonna get, yeah, I&#8217;m gonna, I&#8217;m gonna shop for $2.5 million segments, right?<br \/>\n30:13<br \/>\nNow I&#8217;ve got to 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 because that way, if I go solicit capital for this, no one&#8217;s going to go around me.<br \/>\n30:27<br \/>\nIf I have an option on the title, that means I can try to title. It makes me a detective owner. Yeah so you got to think of things like that so that&#8217;s an example of diversifying in real estate.<br \/>\n30:36<br \/>\nI&#8217;m not saying I&#8217;m like a pro at that. I&#8217;ll do other stuff. You know?<br \/>\n30:40<br \/>\nBut that&#8217;s an example of how you could do it.<br \/>\n30:43<br \/>\nThe other one is, of course, something that you&#8217;re really good at, efficient at, or that you love, or that you could love.<br \/>\n30:48<br \/>\nI&#8217;ve talked to so many people that, they have things that they&#8217;re doing as a hobby that can actually make a bunch of money mm, and in some cases, when we talk about it, they&#8217;re like, Yeah, I&#8217;m gonna do that, and they actually do it.<br \/>\n30:59<br \/>\nUh huh, Oh, OK.<br \/>\n31:00<br \/>\nI 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, and 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&#8217;m trying to save up my money, because I have this product, it&#8217;s a hair care product.<br \/>\n31:19<br \/>\nHe&#8217;s actually inventing a Haircare products It just took me by surprise!<br \/>\n31:21<br \/>\nLike, yeah, you never know, you know, so, um, because I&#8217;m 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&#8217;t you go find out who&#8217;s, 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&#8217;t 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 that&#8217;s 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&#8217;ll buy a website that&#8217;s 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, is how 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&#8217;s not.<br \/>\n32:22<br \/>\nSo, I sit my suggestion was, go find the tool that&#8217;s going to produce the money to fund your project. Don&#8217;t wait till you get the money to try to fund the project.<br \/>\n32:33<br \/>\nThat&#8217;s the backwards way to do it.<br \/>\n32:35<br \/>\nYeah, he&#8217;s actually doing that now.<br \/>\n32:37<br \/>\nCool. So, now, we&#8217;re talking about small money, OK. We&#8217;re talking about 15 grantees. Don&#8217;t like that, now, it could turn into big money. But what we&#8217;re talking about here is, OK, re-allocate. I got one point five million dollars. I got $7 million.<br \/>\n32:46<br \/>\nYeah, real estate, probably the bigger things you&#8217;d get into would be agriculture, like farming.<br \/>\n32:54<br \/>\nSo, I don&#8217;t know, I&#8217;m not, yeah, I mean, we need farmers. But realize also, you know, they&#8217;re 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.<br \/>\n33:10<br \/>\nThey cannot, you cannot recover God that it&#8217;s, I can&#8217;t 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&#8217;ve 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&#8217;re growing corn underneath, and these buildings. When you build a building, that&#8217;s 100 stories, It&#8217;s, I think, it&#8217;s got to have a counter-balance of about 30 stories underneath the ground.<br \/>\n34:06<br \/>\nOh, wow, yeah. We don&#8217;t realize that. We just think the building is sitting on top of the ground, but it&#8217;s not. It&#8217;s actually in the ground.<br \/>\n34:12<br \/>\nAnd underneath that is farming in China.<br \/>\n34:16<br \/>\nThat&#8217;s crazy.<br \/>\n34:18<br \/>\nYeah, so just realize there&#8217;s 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 no, I don&#8217;t know. I wouldn&#8217;t put money anywhere right now, except kryptos and precious metals.<br \/>\n34:31<br \/>\nAnd I don&#8217;t even like precious metals and I really don&#8217;t like Kryptos, but you kind of have to do it. It&#8217;s going to be a tool, I mean, you&#8217;re going to have to have kryptos. I just don&#8217;t like sitting there and waiting for the price to go up against the dollar.<br \/>\n34:40<br \/>\nBut I don&#8217;t 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&#8217;s 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&#8217;m not going to keep my precious metals more than a few months.<br \/>\n35:05<br \/>\nBecause I&#8217;m going to do something else.<br \/>\n35:07<br \/>\nThat&#8217;s my plan. I&#8217;m just go into precious metals because I don&#8217;t want to be in the dollar and I don&#8217;t want to be in the bank.<br \/>\n35:11<br \/>\nAnd I, you know, I&#8217;m, I&#8217;m, I feel more secure in a vault somewhere, or take an ownership, or something. I&#8217;m not, I&#8217;m not buying precious metals. For the sake of precious metals. Yeah. It&#8217;s to manipulate it.<br \/>\n35:24<br \/>\nBut looking at the past, I&#8217;m saying, well, OK, even if the price goes down against the dollar, I can still recover, and it&#8217;s, I think, a lot more secure than buying rice, or commodities, maybe no, are here 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 know that it&#8217;s a percentage, it&#8217;s a percentage, so I look at like this. An investment of precious metals, OK, I jokingly tell people, invest, Invest in gold, if you&#8217;re old.<br \/>\n35:59<br \/>\nAnd what I mean by that is if you don&#8217;t have any creative ideas and you don&#8217;t feel like it, You don&#8217;t feel like it, Like you&#8217;ve done the work in your lifetime. You&#8217;re done with, you know, your 600 to maybe or even 53, whatever. And So, yeah, then go Nicole. No shame there.<br \/>\n36:15<br \/>\nSo, you&#8217;re just parking it somewhere.<br \/>\n36:17<br \/>\nBut then what percentage? So, so keep that in mind. That&#8217;s my opinion of gold.<br \/>\n36:22<br \/>\nI&#8217;m not trying to make a lot of money on gold.<br \/>\n36:24<br \/>\nI don&#8217;t 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.<br \/>\n36:38<br \/>\nIn 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&#8217;s a way to move money or harbert, for a short period of time, OK, yep. And that&#8217;s why, you know, you&#8217;re bringing this up, have an allocation or re-allocation plan. And so yeah, that&#8217;s, that&#8217;s the hard part.<br \/>\n36:58<br \/>\nBut still, I don&#8217;t 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&#8217;s 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&#8217;ll see what I&#8217;m talking about.<br \/>\n37:24<br \/>\nAnother thing to keep in mind about basics and discipline, just, 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, you know, with a windfall? And then how do I protect it from my family?<br \/>\n37:41<br \/>\nAnd you don&#8217;t 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&#8217;re using.<br \/>\n37:52<br \/>\nBut there&#8217;s 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&#8217;s going to be the opposite, mostly of what most of y&#8217;all think.<br \/>\n38:06<br \/>\nIt just blew me away, so it was like 20 years ago I read that. And then there&#8217;s another book you can find for free on the Internet. You can Google this title.<br \/>\n38:15<br \/>\nIt&#8217;s called the richest man in Babylon.<br \/>\n38:19<br \/>\nIt&#8217;s 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&#8217;s great, thank you. Alright, perfect.<br \/>\n38:31<br \/>\nAll right, let&#8217;s move to Alex. Thanks for waiting, Alex.<br \/>\n38:35<br \/>\nHey, John, Jay. We just over my volume here, so there&#8217;s no delay.<br \/>\n38:40<br \/>\nCouple of questions about trusts for U and W nine&#8217;s It&#8217;s 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&#8217;s some exemption questions on there is that just basically left out for LLCs and trusts.<br \/>\n39:00<br \/>\nAnd 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&#8217;t know if you know if you&#8217;re familiar with him. He&#8217;s a researcher. He was talking about civil forfeiture.<br \/>\n39:16<br \/>\nBasically, you know, the authorities can take property that they suspect, link to any crimes and that just maybe you start thinking not 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, they a W nine, and then that whole thing about the trust.<br \/>\n39:45<br \/>\nOK, remind me, because I might forget the question, but Debbie Nine&#8217;s, 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 just kinda sure, why not? All right.<br \/>\n39:55<br \/>\nPull that off. I actually did a video on this the other day, but. Um.<br \/>\n40:00<br \/>\nIt didn&#8217;t.<br \/>\n40:07<br \/>\nSo a W nine is a best practice. Let&#8217;s 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&#8217;s gonna pay me is gonna 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&#8217;s pain, yeah, any pay or to the LLC I want to make sure that he&#8217;s gonna pay the LLC and the LLC&#8217;s name and with the correct &#8230;.<br \/>\n40:38<br \/>\nI don&#8217;t want my SSN on there because I&#8217;m signing for this with my SSN, right.<br \/>\n40:43<br \/>\nAll right, so, 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 routes that let&#8217;s see, she used the reservation address as a rule no, sometimes you can I like to use agent addresses that are not actual agents. I just put your name at that address so you don&#8217;t have to pay every year because for most of you, you don&#8217;t need that.<br \/>\n41:14<br \/>\nSo generally, I like using And the principal address of the company, 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&#8217;s probably OK, but I&#8217;m 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&#8217;re gonna have to get mail from somebody, Now, whatever address we put on the LLC does not determine where mail goes. Mail goes. where you tell people to send mail? That&#8217;s it.<br \/>\n41:47<br \/>\nThen we come down here and we make sure that we only fill out this OK, the EIN, it&#8217;s gonna fill out, yeah, do not put your SSN at all here.<br \/>\n42:00<br \/>\nSo it&#8217;s 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&#8217;t know, I think you have to print this and sign it and then put the date in there.<br \/>\n42:10<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&#8217;s a trust, you might want to put trustee or as Trustee next year in Signature.<br \/>\n42:28<br \/>\nYou can also put if it&#8217;s an LLC. You can put Vice President. You can put Managing Member.<br \/>\n42:35<br \/>\nJust anything you wouldn&#8217;t know. You wouldn&#8217;t put PMA there.<br \/>\n42:39<br \/>\nNo, because there&#8217;s no there&#8217;s no PMA here got it.<br \/>\n42:43<br \/>\nNo, no, this has never part of the discussion guy.<br \/>\n42:45<br \/>\nSo I know this is another reason I want to talk about this today because the LLC isn&#8217;t OK, It&#8217;s literally not a trust.<br \/>\n42:54<br \/>\nIt&#8217;s gonna function that way, but it&#8217;s literally an LLC.<br \/>\n42:57<br \/>\nThe fact that a PMA owns it and the fact that you&#8217;re 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, OK, on it?<br \/>\n43:10<br \/>\nYeah, so that&#8217;s the thing now, see here?<br \/>\n43:13<br \/>\nCertification.<br \/>\n43:15<br \/>\nThis is what you&#8217;re trying to accomplish.<br \/>\n43:18<br \/>\nYou&#8217;re avoiding backup withholding. You guys can look this up as under Section 34, 31st six of the tax code.<br \/>\n43:24<br \/>\nYou&#8217;re also avoiding having the liability, like for example, if I open a trust account and I don&#8217;t give the bank a W nine and the person that enters it just thinks it&#8217;s OK to put my SSN for the trust EIN.<br \/>\n43:37<br \/>\nI got big problems. How am I going to correct a 1099 or something, right? It&#8217;s 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&#8217;s basically going to go to the exchanges, They&#8217;re 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&#8217;s a best practice.<br \/>\n44:04<br \/>\nDon&#8217;t have to, but it&#8217;s a good practice to do that.<br \/>\n44:06<br \/>\nYep, OK, that makes sense.<br \/>\n44:07<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 residents or the entire contents of a residence into a trust?<br \/>\n44:21<br \/>\nYeah, you certainly can&#8217;t 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 the different types of risk from the same owner, so I wouldn&#8217;t 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. So title ownership.<br \/>\n44:49<br \/>\nAnd a lienholder do not mix liabilities, 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&#8217;s all cash.<br \/>\n45:20<br \/>\nCash checks, whatever, It&#8217;s just cash flow. OK.<br \/>\n45:23<br \/>\nBut when I&#8217;m taking title to things, especially fixtures on the land, like real estate, it&#8217;s hard to move that stuff. It&#8217;s hard to change that stuff. I can&#8217;t just spend it or I&#8217;d have to find a buyer. So it&#8217;s 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&#8217;d like to do single family residential, then I&#8217;d probably maybe group them by tens or something.<br \/>\n45:46<br \/>\nEven then, I&#8217;ll break it apart a little bit.<br \/>\n45:49<br \/>\nIf it&#8217;s 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&#8217;s 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&#8217;s not necessary. It doesn&#8217;t need an EIN.<br \/>\n46:18<br \/>\nIt doesn&#8217;t need to be registered with the state, and I know if any attorney hears that people freak out and say this guy&#8217;s nuts, There&#8217;s 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&#8217;ve 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&#8217;re really just looking to, keep it to one title per truck. Yeah. It&#8217;s the same thing, property is the same exact thing. Yeah, you can take that after you take the address of the property.<br \/>\n47:03<br \/>\nFor example And put the word trust after it, so it&#8217;s 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&#8217;ve got a couple of hands up here.<br \/>\n47:17<br \/>\nSomebody&#8217;s asking, oh, OK, brokerage account he&#8217;s in a fight with them over the beneficiary. I put down is that my name? Comma, PMA, OK? So that&#8217;s the name of your PMA. It&#8217;s your name PMA, OK? Now remember when you do that, that PMA designation identifies a different, separate person.<br \/>\n47:34<br \/>\nAnd that&#8217;s what they&#8217;re having a problem with.<br \/>\n47:36<br \/>\nSo they they chose to put just my name, and don&#8217;t 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&#8217;re 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&#8217;s 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&#8217;re not, and you&#8217;ve noticed them, and they do something that&#8217;s contrary to our interests, they&#8217;re liable.<br \/>\n48:15<br \/>\nBut just the same, I mean, I like to avoid controversy.<br \/>\n48:18<br \/>\nSo, just as a matter, of course, like, let&#8217;s 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&#8217;s a copy of my articles.<br \/>\n48:28<br \/>\nI just filed my, my annual report for the year, And I just thought I&#8217;d give you guys a copy for your records, you see?<br \/>\n48:34<br \/>\nThat way, it doesn&#8217;t raise any no questions, like, Oh, what&#8217;s new, Why are you doing this? Oh, you already told them why? Because you just thought you&#8217;re supposed to do it, You&#8217;re just being a nice guy, And they&#8217;re like, OK, fine.<br \/>\n48:44<br \/>\nThey should, they shouldn&#8217;t 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&#8217;t make them have to examine anything.<br \/>\n48:54<br \/>\nI&#8217;d 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&#8217;ll remember in a second. I&#8217;m sorry.<br \/>\n49:13<br \/>\nI&#8217;ll get back to that. Oh. And so you asked me about the trust, OK? Yeah, so, I think I covered that, Alex, right?<br \/>\n49:19<br \/>\nThe trust, so we got that, right? Yup. They weren&#8217;t, forget you, OK, cool.<br \/>\n49:23<br \/>\nAlright, and walk through video for setting up an account with Chase. Hmm, hmm hmm, yeah, OK, gosh, that&#8217;s intimidating, maybe if you pay me enough, I&#8217;ll do that.<br \/>\n49:35<br \/>\nKnow, if somebody were to do that, I probably buy the video from you, if you are. I&#8217;m actually trying to say, I don&#8217;t 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&#8217;ll buy it from you.<br \/>\n49:49<br \/>\nAnd then, if you&#8217;ll 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&#8217;ve done documents like that for me, and just sent it to me.<br \/>\n50:00<br \/>\nAnd I just so much appreciate that, but I&#8217;m 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 files extra, OK.<br \/>\n50:13<br \/>\nA tax return is required to be filed when a tax return is filed, that creates the duty to file. I don&#8217;t know where there&#8217;s any other duty to file.<br \/>\n50:23<br \/>\nNow, you&#8217;ve heard me say about C Corp, I happen to believe that a C corp is a C corp because it file a tax return claiming it&#8217;s a C corp. That&#8217;s why it has to file.<br \/>\n50:34<br \/>\nJust like an S corp, S corp is an LLC, that files a form to 555, so in order to get the S corp classification, you actually have to file a tax return.<br \/>\n50:44<br \/>\nSo that&#8217;s why I say once you file that return, there&#8217;s going to be the presumption that you have to keep on filing, OK?<br \/>\n50:51<br \/>\nSo it&#8217;s up to you, I mean an unincorporated association, I mean.<br \/>\n50:55<br \/>\nWhat about mm?<br \/>\n50:57<br \/>\nYou hire a babysitter to give her a 1099, give him 1099 W two, I mean, you could.<br \/>\n51:04<br \/>\nIt&#8217;s kinda silly.<br \/>\n51:05<br \/>\nI mean, maybe, But an unincorporated Association, I mean, we&#8217;re, we&#8217;re part of many unencumbered 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&#8217;s right handed it goes on and on and on.<br \/>\n51:20<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&#8217;s up to you.<br \/>\n51:40<br \/>\nThat&#8217;s my answer.<br \/>\n51:42<br \/>\nAnd active in good standing. Yeah, I think you can use those terms.<br \/>\n51:45<br \/>\nInterchangeably active means that everyone in the world will recognize it according to the official government records as a thing a person that&#8217;s in good standing.<br \/>\n51:55<br \/>\nAll right. And let&#8217;s see. Oh, good! Killen Brown, OK. Super great. Brick and mortar banks, I was, for 1, 1, 2 would open them. Yeah, so it&#8217;s hit or miss with the banks?<br \/>\n52:05<br \/>\nYeah, they all say, We don&#8217;t know about &#8230;, but so what? They&#8217;re not supposed to look at &#8230;. That&#8217;s why I give you these documents. OK, I give you the BSA Bank Secrecy Act memorandum. I just made that up complaints memorandum and there&#8217;s a brief in there that I didn&#8217;t 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&#8217;s an unincorporated unregistered association, but they do anyways.<br \/>\n52:29<br \/>\nThey think that a human being has to be the owner of the company, so I guess it&#8217;s just a you know, it&#8217;s up to us. How do we communicate with people? Really? It&#8217;s testing our ability to do that.<br \/>\n52:39<br \/>\nSo far, we&#8217;re doing OK, I mean, there is some difficulty out there, but we&#8217;re getting past it.<br \/>\n52:46<br \/>\nIf I can&#8217;t 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 \/>\nMean, it Here&#8217;s what we here&#8217;s what we do. If I just feel like the client&#8217;s, he&#8217;s frustrated. So I&#8217;m just I&#8217;ll just tell them this. Just tell them, you&#8217;re the owner.<br \/>\n53:03<br \/>\nJust tell him you&#8217;re the owner.<br \/>\n53:05<br \/>\nAnd don&#8217;t change anything. Keep your PMS the owner. And they&#8217;ll go on that.<br \/>\n53:09<br \/>\nThey almost never look at the state and get a state record and say, Oh, you haven&#8217;t 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&#8217;t like that one, but sometimes it&#8217;s worth just moving on with your thing.<br \/>\n53:26<br \/>\nI&#8217;m an LLC already set up and trading, Kayla and Brown Do not understand how I&#8217;m going to defer taxes using, but instead of a trust, OK, OK.<br \/>\n53:34<br \/>\nSo 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?<br \/>\n53:43<br \/>\nThe destination of where the money is going the destination meeting, the final place where you&#8217;re going to go and tell the IRS, OK, here we have gains. Here&#8217;s my balance sheet or on my tax return.<br \/>\n53:55<br \/>\nHere&#8217;s the money I owe for the tax rate based upon what I&#8217;m 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&#8217;t file a return for it.<br \/>\n54:08<br \/>\nMake sure that any tax payer, that gets money from it and including yourself if you&#8217;re filing 1040, if you&#8217;ve got, if you&#8217;ve ever father 10, 40.<br \/>\n54:15<br \/>\nMake sure that if you get money from that LLC and it&#8217;s not for the LLCs purposes that you record that included as on your 1040 that that&#8217;s it. It&#8217;s 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&#8217;t 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 \/>\nThen I can tell you why. I think that Wave, man, I got lots of stories and that you guys have probably heard them before it.<br \/>\n54:58<br \/>\nSo, other people should be talking like this. I&#8217;m not saying you shouldn&#8217;t file tax returns.<br \/>\n55:02<br \/>\nI&#8217;m just saying, why would you create a tax liability when you don&#8217;t 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 \/>\nAnd then 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&#8217;t.<br \/>\n55:26<br \/>\nSo, that&#8217;s what we&#8217;re doing. We&#8217;re creating a person that can handle money, that doesn&#8217;t 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&#8217;s another thing about Killam Brown.<br \/>\n55:41<br \/>\nSo, this is kind of new, and maybe I&#8217;m misunderstanding what&#8217;s going on here, but, with Kale, him and 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&#8217;s the difference.<br \/>\n56:05<br \/>\nThey&#8217;re being nice to us. They could require us to go through our embassy and get what&#8217;s called an apostate deal, on a legal document to use in a foreign jurisdiction. That&#8217;s what, that&#8217;s what it&#8217;s 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&#8217;re signing.<br \/>\n56:25<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&#8217;t believe you can notarized that because you&#8217;re not signing it.<br \/>\n56:37<br \/>\nThere&#8217;s nothing to witness there and if you know, dries it, you&#8217;re changing the certificate status of that document.<br \/>\n56:44<br \/>\nNow, they do accept a copy of the Certificate of Articles, OK? A copy of the Certified copy.<br \/>\n56:52<br \/>\nThat is another gray area, but that&#8217;s on them. If they want to do that, then that&#8217;s fine. But officially, we&#8217;re 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&#8217;d send a very special way. So, thankfully, they&#8217;re not asking us to do that.<br \/>\n57:11<br \/>\nSo I want to explain that the legal aspect of how that&#8217;s supposed to be done and how they are doing it. So there shouldn&#8217;t be any problem with any document that you&#8217;re going to be signing to have that notarized.<br \/>\n57:22<br \/>\nIf it&#8217;s a certificate from a government, I don&#8217;t see how you can notarized that. And I don&#8217;t think that&#8217;s what they&#8217;re asking.<br \/>\n57:29<br \/>\nSo let me know if I&#8217;m wrong on that one.<br \/>\n57:33<br \/>\nYep. And then Process Start with Gemini, right. Yeah, so gemini&#8217;s asking tech questions. I don&#8217;t know about the tech questions. If they&#8217;re technical regarding law, or the document you&#8217;re using like your LLC documents or something, I can, I can help you with that?<br \/>\n57:50<br \/>\nAgain, they&#8217;re going to do the same thing that banks are doing, but they&#8217;re going to do some other things, like they&#8217;re gonna ask you, OK, what&#8217;s the source of wealth? And so the general answer is that it&#8217;s my savings, my personal savings, and my my income for my job. And I&#8217;m just allocating some of that money over for investment investment purposes.<br \/>\n58:06<br \/>\nHere&#8217;s what you want to avoid, implying that you are collecting money from your friends and family and you&#8217;re 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&#8217;t open the account. Then, if you tell them that, they&#8217;ll make you go 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&#8217;t care if you are using your family&#8217;s money, and your brother says, Hey, invest my crypto money for me.<br \/>\n58:33<br \/>\nYou can do that, but just don&#8217;t tell them, you&#8217;re doing that. Don&#8217;t tell anyone you&#8217;re 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&#8217;s, yeah. I wonder what else is out there? They can&#8217;t just be using one company has got to be more.<br \/>\n58:50<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&#8217;ll see there&#8217;s a, what&#8217;s 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&#8217;re signing for yourself.<br \/>\n59:09<br \/>\nYou&#8217;re signing as the vice president or managing member, and you&#8217;re signing as the authorized signer. You know, a one member LLC, right? Or a signer for a single member or double member LLC.<br \/>\n59:20<br \/>\nYou can do all that. They&#8217;ll accept all that. So it&#8217;s 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&#8217;ll you&#8217;ll add an authorized user.<br \/>\n59:55<br \/>\nNo problem. And by the way, you don&#8217;t need an authorized user.<br \/>\n59:58<br \/>\nI mean, most of the time, you don&#8217;t, for myself, Usually my wife signs for things. I&#8217;m sometimes, I have a partner, sign for things.<br \/>\n1:00:06<br \/>\nI&#8217;ve been lucky where I have, you know, trust relationships with people. I mean, hopefully have those things.<br \/>\n1:00:12<br \/>\nI&#8217;ve really never had a problem with things like that over the years.<br \/>\n1:00:15<br \/>\nSo, it&#8217;s not that you need that, but let&#8217;s say you can&#8217;t 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&#8217;re 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 do 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&#8217;m always inclined to recommend that people stay out of a situation where that wealth would be pulled into a probate process. You really don&#8217;t want to go there.<br \/>\n1:01:02<br \/>\nSo that way, if that&#8217;s not part of your state, you&#8217;re already ahead of the game.<br \/>\n1:01:07<br \/>\nYou should still have a will, in my opinion, but your will expresses what&#8217;s in your state and what should be done with it.<br \/>\n1:01:14<br \/>\nAnd I think your wills 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&#8217;s 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&#8217;d like to use that. If the client, it&#8217;s suitable for what he wants to do to develop out an estate plan.<br \/>\n1:01:39<br \/>\nNow I&#8217;m 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&#8217;m doing, is, I&#8217;m kinda copying things I&#8217;ve developed for my family over the years.<br \/>\n1:01:50<br \/>\nI don&#8217;t really like saying that, but, and that&#8217;s really what I&#8217;m doing, because so far it&#8217;s worked really well, and everybody likes it. Everyone in my family. They understand what&#8217;s going on.<br \/>\n1:01:59<br \/>\nI have my own philosophy on how to no leave things behind, if, you know that&#8217;s my plan anyways. So I&#8217;ll share that with you.<br \/>\n1:02:06<br \/>\nBut 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&#8217;t go too far. So I have to like file pilot with the state.<br \/>\n1:02:28<br \/>\nNo, not just don&#8217;t do that. No, no, never. It&#8217;s all private.<br \/>\n1:02:32<br \/>\nSo you want to keep it in your private personal records in your vault.<br \/>\n1:02:37<br \/>\nI should want to, the banks to, to add, to want to know, never, Never, never. Never. Never showed that to the bank. None of their business. Don&#8217;t show it to the bank.<br \/>\n1:02:48<br \/>\nYou control everything you&#8217;re 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&#8217;t 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&#8217;s 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 \/>\n1:03:25<br \/>\nSo, let&#8217;s see what he did. So she&#8217;s gonna go to this place that she knows to go to.<br \/>\n1:03:31<br \/>\nAnd I&#8217;m speaking generally, and she&#8217;s going to then go to another place, and she&#8217;s gonna get the information.<br \/>\n1:03:37<br \/>\nAnd then she&#8217;s gonna go get a blank check.<br \/>\n1:03:43<br \/>\nAnd she&#8217;s 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&#8217;s a bank account. And she could see what money&#8217;s 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&#8217;m the signer for, even though she&#8217;s not the signer.<br \/>\n1:04:03<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. Banks can say, well, you need a probate order from the judge.<br \/>\n1:04:12<br \/>\nAnd they&#8217;re right, but don&#8217;t ever do that.<br \/>\n1:04:16<br \/>\nOK, Manager Affairs&#8217; 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&#8217;s for like the capital gains?<br \/>\n1:04:29<br \/>\nLLCs like four because like Business Income.<br \/>\n1:04:33<br \/>\nIt&#8217;s a separate Yeah, I would separate them that way. Yeah. For a business, I would separate from an investment portfolio.<br \/>\n1:04:40<br \/>\nOK, here, It makes sense. You don&#8217;t have to, but it&#8217;s probably a good idea.<br \/>\n1:04:43<br \/>\nYeah. Especially with the business I get from, let&#8217;s say you have your, your investment portfolio in your LLC and then you&#8217;re running your business on your LLC, would it be prudent to take on an equity partner.<br \/>\n1:04:55<br \/>\nNo, 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&#8217;m 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&#8217;s a little off topic, but, um, I know you don&#8217;t like CPA&#8217;s, but, this all makes me so nervous, and I&#8217;ve, I&#8217;ve 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&#8217;s a place for that.<br \/>\n1:05:54<br \/>\nUm, and then, I don&#8217;t know if that&#8217;s OK, or if I need to, do something different.<br \/>\n1:06:01<br \/>\nAnd then, I haven&#8217;t filed my tax return yet, because I had filed an extension, and I don&#8217;t know if I need to style 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&#8217;ll probably work that way, but I would be leery of it just because CPA&#8217;s just want you to do what they want you to do, and they&#8217;ll tell you anything. I&#8217;m sorry, I&#8217;m so biased guys, but they will just tell you to do anything. They&#8217;ll say they&#8217;ll explain in any way, just so you&#8217;ll do it.<br \/>\n1:06:39<br \/>\nThen whatever happens. They just say, well, I don&#8217;t know.<br \/>\n1:06:42<br \/>\nI can help you there, because they&#8217;re not liable for anything.<br \/>\n1:06:45<br \/>\nSo, Rob, what I&#8217;ve found to be successful is we file the tax return else for some people.<br \/>\n1:06:52<br \/>\nThey haven&#8217;t felt like you got an extension, so you prepare the return, and you make a copy, the return. You don&#8217;t 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&#8217;s 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&#8217;ll send you a notice about something, they&#8217;ll say Underreporting or something like that.<br \/>\n1:07:22<br \/>\nAnd I&#8217;ve never seen that. I&#8217;ve done.<br \/>\n1:07:26<br \/>\nMany of those, I haven&#8217;t seen that.<br \/>\n1:07:28<br \/>\nI mean, they&#8217;ve always told the times they did write back, they don&#8217;t always write back, but the times they did, the IRS races, cryptic response.<br \/>\n1:07:36<br \/>\nIt&#8217;s almost the same every time he says, we reviewed your request and advise you to take no further action.<br \/>\n1:07:43<br \/>\nWhich means OK, because I told them I&#8217;m not including 1099, and they basically said, OK, I just think it&#8217;s easy that way. Now, I&#8217;ll say something else, too, for 10, 99th.<br \/>\n1:07:54<br \/>\nI&#8217;ve done, I&#8217;ve 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&#8217;t 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 \/>\n1:08:16<br \/>\nI did learn it 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, I forget what you call it but it goes with 1099 and it&#8217;s for imputed income taxes and then I think he sent that in with his 10, 99.<br \/>\n1:08:49<br \/>\nAnd that was accepted that way, So he wasn&#8217;t 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&#8217;m just so biased toward CPA&#8217;s, could have just seen the mess people over so many years.<br \/>\n1:09:06<br \/>\nI&#8217;m not saying your C P. Is going to do is plug into perfect job for you.<br \/>\n1:09:10<br \/>\nThat&#8217;s just my, Well, he he.<br \/>\n1:09:11<br \/>\nHe added it in there, and then he shows where he takes it back out, so, and he knows that I&#8217;m doing this later. I showed it to him, So he&#8217;s curious about it, So we&#8217;ll 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, um, yeah.<br \/>\n1:09:44<br \/>\nI mean, in my standard form letter, I have mentioned that I&#8217;m sending a copy of my 1040, just it, just to be complete. So, Yeah, but just Make sure. Yeah.<br \/>\n1:09:54<br \/>\nYeah. I mean, you don&#8217;t have to have files written for it. Just send a copy of what you are filing, OK? Yeah, OK. All right. Good.<br \/>\n1:10:00<br \/>\nAnd I&#8217;ve got everything, and then I also need to send one to the original creator of the 10 99 which was Celsius. Now, you don&#8217;t have to tell him anything.<br \/>\n1:10:10<br \/>\nI just wonder if you&#8217;re including the 1099, and you&#8217;re still going to ask for determination letter.<br \/>\n1:10:15<br \/>\nI just have to amend the letter, so that we&#8217;re saying that we&#8217;re including it.<br \/>\n1:10:20<br \/>\nChange. That&#8217;s OK. I have to change the wording a little bit.<br \/>\n1:10:23<br \/>\nOK, well, OK.<br \/>\n1:10:25<br \/>\nAll right.<br \/>\n1:10:26<br \/>\nAlways looking to learn new stuff, so, Yeah.<br \/>\n1:10:32<br \/>\nAll right, Thank you. Sure. All right.<br \/>\n1:10:35<br \/>\nLet&#8217;s 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. You did the last time, filled it out, and said it references this Money Services built business form.<br \/>\n1:11:01<br \/>\nAnd I just sent them a copy of the articles, the signed articles. Know that. Yes.<br \/>\n1:11:08<br \/>\nAnd I&#8217;m hoping that that satisfies them if you ever come up. That&#8217;s pretty good. That&#8217;s a good that&#8217;s a good response. Cool. 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&#8217;re an international multi-billion dollar bank, can&#8217;t help you there.<br \/>\n1:11:27<br \/>\nYeah, because I, in the top of the letter, I put, you know, I&#8217;m investing in real estate personally and I&#8217;m using personal savings. And that&#8217;s it. And I say, here&#8217;s the articles, I like that.<br \/>\n1:11:37<br \/>\nFor everyone listening, who&#8217;s going to hear this?<br \/>\n1:11:40<br \/>\nI like that response, and, I&#8217;m just, I&#8217;m gonna look this up, I&#8217;ll just 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 they&#8217;re not supposed to, you did perfectly.<br \/>\n1:11:53<br \/>\nYou send the articles, so you&#8217;ll have to talk, Hey, my articles do all the talking for me, I&#8217;m not going to fill out your form, If you start filling out forms that you&#8217;re just given without understanding what you&#8217;re doing, you probably shouldn&#8217;t be doing many ways.<br \/>\n1:12:03<br \/>\nIf you&#8217;re not going out to look for the form to fill it out and someone&#8217;s giving you a form, probably shouldn&#8217;t be filling that form out because someone&#8217;s 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&#8217;s going to have to give him money.<br \/>\n1:12:19<br \/>\nTransmitter license or FinCEN is going to be on his **** and he&#8217;ll, he&#8217;ll have years of problems with the IRS.<br \/>\n1:12:29<br \/>\nPages long, that form. What&#8217;s it called?<br \/>\n1:12:33<br \/>\nLet me look it up our services business activities MSP activities.<br \/>\n1:12:42<br \/>\nIt doesn&#8217;t have an OMB number on it.<br \/>\n1:12:45<br \/>\nHmm, hmm.<br \/>\n1:12:49<br \/>\nIt was just a letterhead that they sent with that in first paragraph. That was it.<br \/>\n1:12:56<br \/>\nI have one here, Suspicious activity, report Money services business, OK, that&#8217;s a FinCEN.<br \/>\n1:13:00<br \/>\nIt&#8217;s six pages. It&#8217;s got an OMB. so, so that&#8217;s 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&#8217;re either dumb, or they&#8217;re dumb, or they are trying to trap you into a situation. And just one other quick question. Please, John, I&#8217;m running a consultancy business and I&#8217;m 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&#8217;m not have insurance, You go straight to the LLC. I mean, that has already means have indemnification so you don&#8217;t need to 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&#8217;m glad I&#8217;m glad you brought that up. I don&#8217;t see it here, but I would love to see that document and I would love to find, I&#8217;m 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&#8217;s me to 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.<br \/>\n1:14:25<br \/>\nCurrency dealer is what you are doing confess Fs now. Are you a check casher or your issue or traveler checks? Redeemer of traveler&#8217;s 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&#8217;re delivering other people&#8217;s mail.<br \/>\n1:14:42<br \/>\nAn activity threshold, a greater than $1 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&#8217;s why have you do these forms a certain way.<br \/>\n1:14:55<br \/>\nAnd also, when you apply for things, we&#8217;re very careful about, you know, there are always trying to detect if someone&#8217;s doing this.<br \/>\n1:15:03<br \/>\nSo.<br \/>\n1:15:07<br \/>\nGlad you brought that up, right, I&#8217;m not ignoring y&#8217;all. I know you get your hands up and everything I&#8217;m trying to get everybody. And Frank, thanks. Thanks for your patients.<br \/>\n1:15:13<br \/>\nFrank: I just got a note from my assistant. She&#8217;s got everything set up, so OK, I Just want just real quick, John, so.<br \/>\n1:15:24<br \/>\nI&#8217;ve got price targets on these kryptos and when I I&#8217;m going to try to, you know cashed out at certain points here.<br \/>\n1:15:34<br \/>\nBut um, I would like to maybe moves.<br \/>\n1:15:38<br \/>\nMove 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&#8217;m kind of 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&#8217;m 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&#8217;m getting at is the interest that I earn on those coins if it&#8217;s 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&#8217;s not taxable.<br \/>\n1:16:39<br \/>\nIt&#8217;s just your kryptos are worth more now.<br \/>\n1:16:42<br \/>\nIt&#8217;s still not a taxable thing, and they&#8217;re calling it interest, but, yeah.<br \/>\n1:16:45<br \/>\nBut it&#8217;s not really taxable interest, but to avoid all the drama.<br \/>\n1:16:49<br \/>\nYeah, use an LLC, OK, and so if it&#8217;s in my personal name, or will they are they going to 1099 Me though, know, make sure that&#8217;s what you do the W nine.<br \/>\n1:17:00<br \/>\nMake sure your account holders, the LLC and the other party has the EIN and to nail it, Kim, the W nine.<br \/>\n1:17:08<br \/>\nI&#8217;ve never had a problem doing it that way, OK. And by the way, you&#8217;re 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, thank you, man, appreciate it.<br \/>\n1:17:21<br \/>\nAlright, all right.<br \/>\n1:17:22<br \/>\nOK, don&#8217;t go to. Let&#8217;s see, I want to try to make sure I get.<br \/>\n1:17:27<br \/>\nremember is there OK, Jean?<br \/>\n1:17:29<br \/>\nHi, can you hear me?<br \/>\n1:17:31<br \/>\nOK, my question is the coins that I&#8217;ve invested and I presume that at some point I will be taking profits, How do I avoid taxation?<br \/>\n1:17:46<br \/>\nMove money back to the name that I have here is also LLC.<br \/>\n1:17:54<br \/>\nOK, just make sure your LLC is the account holder.<br \/>\n1:17:57<br \/>\nWherever you&#8217;re moving the money then the LLC has the liability, not you.<br \/>\n1:18:02<br \/>\nThen don&#8217;t file a return for the LLC. Accept any money you pay yourself.<br \/>\n1:18:07<br \/>\nHow about buying a piece of property?<br \/>\n1:18:09<br \/>\nOnce we get the money back, spend the money from the LLC, and when you take title, don&#8217;t 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&#8217;s, there&#8217;s a reality there, because sometimes you&#8217;ll be in a mortgage situation, so if you, if you get a mortgage, it&#8217;s probably easier to closing your name, just conveyed out of your name afterwards and not planning on having important.<br \/>\n1:18:35<br \/>\nOK, yeah, so it&#8217;s easier. Just pay cash of the thing and don&#8217;t take title in your name.<br \/>\n1:18:40<br \/>\nSay that one more time.<br \/>\n1:18:41<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&#8217;re going to go to the closing for the real estate.<br \/>\n1:18:54<br \/>\nWhen you take the title, make sure the contract is in 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&#8217;s not in your name.<br \/>\n1:19:03<br \/>\nAnd I&#8217;m not going to avoid taxes that we&#8217;ll avoid.<br \/>\n1:19:08<br \/>\nIncome tax, yes, that will. What that does is it creates a record of money that&#8217;s 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&#8217;ve 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&#8217;ve learned a lot of things from those guys over the years, and they&#8217;ve never had a problem they did all the time.<br \/>\n1:19:34<br \/>\nI can explain why we 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 was also, Do you need to be the LLC, now? We have set up to make sure they&#8217;re set up.<br \/>\n1:19:52<br \/>\nYeah, we do that actually when, when it&#8217;s 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.<br \/>\n1:20:07<br \/>\nI will if you want me to, I just want to.<br \/>\n1:20:11<br \/>\nYeah. And you almost can&#8217;t 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&#8217;t have to be concerned about what&#8217;s in the document as long as he didn&#8217;t make any substantial changes to it. Because it&#8217;s 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&#8217;s going to pierce that.<br \/>\n1:20:36<br \/>\nNo one&#8217;s really going to get past how I&#8217;ve written the contract, But you could probably get pretty close to that. Well, I think I don&#8217;t like those standard ones. You get off the Internet, or the ones that have attorneys have written.<br \/>\n1:20:47<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&#8217;ve seen enough problems over the years, where I&#8217;ve 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&#8217;s 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&#8217;t, they don&#8217;t 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&#8217;s probably the same as usual. Maybe I misunderstood him recently. So OK, cool. Yeah, so.<br \/>\n1:21:40<br \/>\nOh, 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&#8217;s 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 by 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&#8217;d never want to see your SSN with your LLC name on there on 1099.<br \/>\n1:22:23<br \/>\nOK, so, I&#8217;ve just taken a filled out W nine and haven&#8217;t put it, or whatever they do with it, OK.<br \/>\n1:22:30<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 by something cache, a little kondo.<br \/>\n1:22:44<br \/>\nAlon Trust, and I&#8217;m 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 \/>\nNo, that&#8217;s fine, That&#8217;s fine.<br \/>\n1:22:57<br \/>\nI know, I don&#8217;t see a problem with that. No, no, no. Actually, I don&#8217;t see a problem with that. Just don&#8217;t also be the grand tour 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 a grant or is going to be the LLC. That&#8217;s the personal attributing the money. Yeah, 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&#8217;re 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?<br \/>\n1:23:32<br \/>\nyou can sign for it, just make on paper the LLC the trustee if you have to if you don&#8217;t have someone else. You can make the trustee.<br \/>\n1:23:39<br \/>\nIt&#8217;s even better if you can have an adult child, be the trustee for you, That&#8217;s 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&#8217;t have a marriage license, mm, you, if you&#8217;re a significant other or spouse or whatever, like my wife, we don&#8217;t have a marriage license, we&#8217;ve been married for 22 years or so.<br \/>\n1:24:03<br \/>\nIt&#8217;s a mayoral community.<br \/>\n1:24:04<br \/>\nIt&#8217;s like, you know, you&#8217;re living together, so, or, I don&#8217;t know. I mean, probably it is.<br \/>\n1:24:08<br \/>\nSo, 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 would I do for clients for all these protections?<br \/>\n1:24:21<br \/>\nI assume I act as if that is a mayoral community.<br \/>\n1:24:24<br \/>\nAnd 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&#8217;t have him be the trustee because it&#8217;s still within the male marital community.<br \/>\n1:24:39<br \/>\nAnd so there&#8217;s really no separation. There&#8217;s no trust relationship.<br \/>\n1:24:43<br \/>\nEven 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&#8217;s a great way to do it. I really think that&#8217;s the best way to go, yeah, that&#8217;s how I would, I would have a lot of children, just one child. You don&#8217;t need all of them.<br \/>\n1:25:11<br \/>\nYeah. I don&#8217;t have children. That&#8217;s why I&#8217;m thinking someone you can trust, right? That&#8217;s the whole view. Yes, absolutely. OK, OK, and last one, so how do oh, so let&#8217;s say, in these crazy times, I can&#8217;t pay my credit card. OK, and I have a single member?<br \/>\n1:25:32<br \/>\nLLC, right now, I&#8217;m the only one. How do I add someone else, so that the credit card stopped?<br \/>\n1:25:39<br \/>\nAgain, it&#8217;s an LLC, will never be against your LLC, because it won&#8217;t 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&#8217;s why I say, it&#8217;s the law, the company, Yeah, it protects you.<br \/>\n1:25:56<br \/>\nSo you want people to see that you&#8217;re not the only owner, So what status isn&#8217;t, Well, what?<br \/>\n1:26:01<br \/>\nOhio?<br \/>\n1:26:03<br \/>\nYes, yeah, so just file an amendment to the Articles. There&#8217;s a little fee there, maybe $50, or something. In fact, since we&#8217;re talking, I could probably find it right now.<br \/>\n1:26:11<br \/>\nThat&#8217;s what I usually do, so I literally go online, I get Google, or I use Duck Duck Go and I look for, let&#8217;s say Ohio.<br \/>\n1:26:18<br \/>\nI&#8217;m an LLC.<br \/>\n1:26:21<br \/>\nAmend articles, and I usually fat file it. Prepare it while we&#8217;re talking on the phone.<br \/>\n1:26:25<br \/>\nYou know, if you guys, you guys know if you talked to me, while we&#8217;re Yeah, you don&#8217;t pay any money for it.<br \/>\n1:26:31<br \/>\nIt&#8217;s free I mean the government has the form If the government doesn&#8217;t have the form, you can make one in about five minutes.<br \/>\n1:26:39<br \/>\nIt doesn&#8217;t 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&#8217;s straightforward. PMA, the LLC forget the PMA. So, if it&#8217;s A If K if the owners A, PMA, you don&#8217;t have to do anything to protect your interests.<br \/>\n1:26:59<br \/>\nBecause you have no interest, right, OK.<br \/>\n1:27:01<br \/>\nIf you are the single member, even, if your name is the PMA, it&#8217;s time for you. Alright? If you&#8217;re 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 I&#8217;m gonna see here, yeah, here it is. 50 50 dollars and north-west registered agent dot com. They&#8217;re really nice These guys, or they want to sell you a service, that&#8217;s why, but you&#8217;ll see the actual form there. They&#8217;ll tell you all the rules and everything. But they wanted to charge you $100 to do it in the State of Charge you 15. If you do by yourself, you just pay 50 dollars.<br \/>\n1:27:33<br \/>\nOK, we&#8217;ll do that. Then.<br \/>\n1:27:36<br \/>\nMy final question is, Can federal student loans, if you were to ever, I mean, I haven&#8217;t got 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&#8217;s no government, and this is why I tell people it&#8217;s bulletproof. I would never say that.<br \/>\n1:27:56<br \/>\nBecause I didn&#8217;t want to be attacked. I&#8217;ve got a tax advice over the years. I&#8217;ve 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 him forever, and I was like, ****, I could do this for everything now, and student loans, there&#8217;s nothing, there. Nothing. If I can beat the IRS student loans, here&#8217;s my student loans, though, they don&#8217;t go away.<br \/>\n1:28:24<br \/>\nNow, fortunately, they&#8217;re not inheritable, so that&#8217;s cool.<br \/>\n1:28:27<br \/>\nThat&#8217;s one of your children, so, but they can knock your net worth down a little bit. If you don&#8217;t know how to manage it, They&#8217;re 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 uncollectable, and they won&#8217;t 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&#8217;t have a student loan debt.<br \/>\n1:29:08<br \/>\nBecause I&#8217;m 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, we&#8217;ll get into a payment plan, even if it&#8217;s, 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&#8217;m seeing here OK, they give me that OK. Well, let&#8217;s see.<br \/>\n1:29:29<br \/>\nMaybe I&#8217;ll have to take that back, I&#8217;m looking at north-west Registered agent.<br \/>\n1:29:35<br \/>\nAnd this is the, see that do it right, I&#8217;ll show you in a second if I get it right.<br \/>\n1:29:46<br \/>\nLet me just show you anyways. I&#8217;m going to flip over there real quick. I won&#8217;t take up too much.<br \/>\n1:29:50<br \/>\nLet&#8217;s 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&#8217;m not saying you need those guys, I mean, it&#8217;s 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, it says $99.<br \/>\n1:30:25<br \/>\nThey don&#8217;t have the document here for amending the articles that I can see, so I&#8217;d have to like search around.<br \/>\n1:30:32<br \/>\nCool.<br \/>\n1:30:33<br \/>\nTo find it, But, yeah, you get the idea.<br \/>\n1:30:36<br \/>\nBut I&#8217;m familiar with the website, so I&#8217;ll take a look at it, OK.<br \/>\n1:30:41<br \/>\nThank you. All right, and let&#8217;s see here we go with Jacko.<br \/>\n1:30:55<br \/>\nJacob you there, they take too long.<br \/>\n1:31:08<br \/>\nOK, well, um, let me see, I&#8217;m gonna go back to the real quick, uh, OK, Interesting.<br \/>\n1:31:15<br \/>\nYeah. So, I&#8217;m this person saying Hydroponics farm near the near, OK, so it&#8217;s nearby.<br \/>\n1:31:22<br \/>\nYeah, I know it would be yeah, Greenhouses, OK.<br \/>\n1:31:26<br \/>\nSo hydroponics that&#8217;s awesome, I mean it&#8217;s it&#8217;s so you could do this stuff. You&#8217;re hydroponics. It&#8217;s low tech.<br \/>\n1:31:33<br \/>\nWhat I&#8217;m finding is people that actually do this commercially it&#8217;s 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&#8217;s 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 it&#8217;s you&#8217;d 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&#8217;ll try. Sometimes my telegram is not let me download files. Some, I&#8217;m 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 dog crashes, it&#8217;s, it&#8217;s 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.<br \/>\n1:32:44<br \/>\nWhere do you shelter from the storm?<br \/>\n1:32:46<br \/>\nYeah. Keep this in mind.<br \/>\n1:32:49<br \/>\nIt&#8217;s 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&#8217;t 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&#8217;s some other things too that are going to be a big problem.<br \/>\n1:33:19<br \/>\nBut, just the same. Hopefully, it doesn&#8217;t affect my cashflow.<br \/>\n1:33:23<br \/>\nThat&#8217;s 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&#8217;m not going to invest in base metal the same way you would invest in gold, that&#8217;s 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 mentioned 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.<br \/>\n1:34:01<br \/>\nIt&#8217;s 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&#8217;re very easy to carry, They are not metallic.<br \/>\n1:34:22<br \/>\nThey&#8217;re pretty much invisible but they&#8217;re 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&#8217;s going to be some other things that go along with that.<br \/>\n1:34:42<br \/>\nBut yeah, gold, loose diamonds.<br \/>\n1:34:44<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&#8217;t 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 crypto, such as Bitcoin and litecoin, and a few others. Yeah, OK, OK. oh someone already read it.<br \/>\n1:35:09<br \/>\nOK richest man in Babylon. Alright, 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. This is why I mentioned frequently that.<br \/>\n1:35:21<br \/>\nWe probably, we register articles with the state only because this is what we&#8217;ve 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&#8217;m the boss, OK? That&#8217;s kind of how we&#8217;ve 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&#8217;s herbal, I&#8217;m sorry I had that experience Janet chase&#8217;s horrible, you know, maybe that&#8217;s changing because, for years, since 2009, at least, I&#8217;ve had really good reports about J. So my suspicion is that maybe they&#8217;re hiring really untrained people. We&#8217;re not training them and they&#8217;re just letting them make havoc for people. I don&#8217;t know, frustrate them.<br \/>\n1:36:10<br \/>\nI never heard of that before.<br \/>\n1:36:12<br \/>\nYou can, know, try something online. That&#8217;s cool.<br \/>\n1:36:15<br \/>\nI guess that&#8217;s what the trend now.<br \/>\n1:36:17<br \/>\nAll right.<br \/>\n1:36:18<br \/>\nI mean, Yeah, Now they&#8217;ve got electronic signature.<br \/>\n1:36:20<br \/>\nSo, um, Now who, I don&#8217;t 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&#8217;s chase&#8217;s prerogative to do that.<br \/>\n1:36:33<br \/>\nIt is nice that they would take a copy of the certified copy, but it&#8217;s well within their rights to ask for an actual certified copy, but the current pages and all that stuff.<br \/>\n1:36:41<br \/>\nSorry.<br \/>\n1:36:42<br \/>\nAnd that&#8217;s 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&#8217;t pay and it doesn&#8217;t meet the two exclusions, which are you&#8217;re 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 you did not have a new deal with the creditor that you didn&#8217;t fulfill, OK.<br \/>\n1:37:26<br \/>\nSo if you, you already reported it and you shouldn&#8217;t 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, And like, you know, we were just talking about who can exclude it, I don&#8217;t know.<br \/>\n1:37:39<br \/>\nMaybe he still have to amend it, but yeah, you can still do a 1040 X an amendment I don&#8217;t see a problem with that.<br \/>\n1:37:46<br \/>\nI mean if it&#8217;s if it&#8217;s 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&#8217;s what you do. If you, if you&#8217;re &#8230;, is the, the member manager VLSC and you want to change his name, all you do is in 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&#8217;ll tell you how to do that.<br \/>\n1:38:06<br \/>\nWhat you want to keep in mind is on the document where you mend the articles, you want to make the amendment first because you have the authority to do that.<br \/>\n1:38:16<br \/>\nAnd then, afterwards, if you&#8217;re changing your authority, then change your authority last.<br \/>\n1:38:21<br \/>\nLike, if you&#8217;re removing yourself, change your authority last.<br \/>\n1:38:24<br \/>\nIf Yeah, so let&#8217;s say change the name. Yeah.<br \/>\n1:38:26<br \/>\nIf you&#8217;re just changing the name of the PMA, all you do is something like: in this in the section where you&#8217;re mending the articles, you would say be it resolved this day, Amending the name of the managing member from and then you give it a name, and then you say to the name of, 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&#8217;s 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&#8217;ll be nice.<br \/>\n1:39:01<br \/>\nJust be nice, OK. Average waiting time for the reply from Coinbase. You know, I&#8217;ve heard Coinbase taken six weeks.<br \/>\n1:39:08<br \/>\nNo maybe more.<br \/>\n1:39:10<br \/>\nI know it&#8217;s crazy. Calama Brown seems to be like the best game in town that&#8217;s not in town. Do you have any opinion about the potential flooding events in Florida? I don&#8217;t 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 and are 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&#8217;s like a sponge ameen flooding would just immediately flood.<br \/>\n1:39:41<br \/>\nI don&#8217;t know what&#8217;s going on.<br \/>\n1:39:44<br \/>\nI&#8217;m, I&#8217;m, I&#8217;m 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&#8217;m 45 minutes inland from the eastern coast.<br \/>\n1:39:58<br \/>\nLet&#8217;s see.<br \/>\n1:39:59<br \/>\nInsurance Companies, Artwork.<br \/>\n1:40:04<br \/>\nI weren&#8217;t sure what you meant, OK, Can you?<br \/>\n1:40:08<br \/>\nOK, Investment Opportunity with insurance program, so I don&#8217;t know.<br \/>\n1:40:12<br \/>\nI&#8217;m just talking off the cuff here. I&#8217;m 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&#8217;re investing in?<br \/>\n1:40:22<br \/>\nIs it stock? I don&#8217;t 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&#8217;re 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&#8217;s another thing you can do, for, example, if I&#8217;m going to buy something.<br \/>\n1:40:40<br \/>\nLet&#8217;s say it&#8217;s my neighbors.<br \/>\n1:40:42<br \/>\nI know the guy and he&#8217;s running a really successful Coyne laundry, right?<br \/>\n1:40:48<br \/>\nBut he&#8217;s 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&#8217;t 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 that the guy who&#8217;s selling the laundromat to me.<br \/>\n1:41:08<br \/>\nRight?<br \/>\n1:41:08<br \/>\nSo anything you&#8217;re doing, like, you&#8217;re 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 of it. See what you&#8217;re investing in. What is it that you&#8217;re really investing in?<br \/>\n1:41:20<br \/>\nCorrect me if I&#8217;m wrong, but my understanding of a mining contract is that you&#8217;re investing me.<br \/>\n1:41:25<br \/>\nIf you think about this, if you&#8217;re buying a mining contract, I believe that the investment is an investment in bandwidth.<br \/>\n1:41:34<br \/>\nSo, that has to do with the facility that&#8217;s providing the bandwidth and the technology and the funding behind the facility.<br \/>\n1:41:43<br \/>\nSo, I&#8217;m just using that as an example. So that when you&#8217;re investing, it&#8217;s something you&#8217;re 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&#8217;s, which I never would, that is a business system, and it&#8217;s also a real estate investment.<br \/>\n1:42:03<br \/>\nUm starbuck&#8217;s, that&#8217;s a real estate investment, but it&#8217;s also, you&#8217;re investing in a brand?<br \/>\n1:42:11<br \/>\nNo. Because it&#8217;s, it&#8217;s a licensing deal.<br \/>\n1:42:15<br \/>\nLet&#8217;s see if I can. OK, Coinbase.<br \/>\n1:42:19<br \/>\nYeah taking about business.<br \/>\n1:42:22<br \/>\nPrint articles on Blockchain yeah and FTEs.<br \/>\n1:42:27<br \/>\nI&#8217;ve been looking into it and have made a few entities OK, I don&#8217;t know what entities are I probably do, but I don&#8217;t recognize &#8230; I&#8217;m 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&#8217;s with the authorization of the beneficiary, and the beneficiary is saying, Yeah, go open a bank account, So you&#8217;re good there.<br \/>\n1:42:54<br \/>\nAnd it almost doesn&#8217;t matter. We tell the bank, it really doesn&#8217;t matter. We tell the bank, what matters is what&#8217;s 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&#8217;ve 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&#8217;re doing to tell you to bring in your beneficiary that&#8217;s silliness. That&#8217;s why we have, I mean, I don&#8217;t even like using a driver&#8217;s license number to identify the beneficiary. You don&#8217;t have to. It&#8217;s, is it sufficient to identify by name, date of birth, in relation to yourself, or to the trustee?<br \/>\n1:43:36<br \/>\nSome are tax free from Australia, OK? Crypto haven&#8217;t there. OK.<br \/>\n1:43:42<br \/>\nAustralia has LLCs, you can use them the same way.<br \/>\n1:43:46<br \/>\nI&#8217;m sure there&#8217;s 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&#8217;m 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&#8217;t think you&#8217;re gonna have a problem with that. I have not done that.<br \/>\n1:44:07<br \/>\nSo, far, so good, though, The canadian&#8217;s, we&#8217;ve done for, haven&#8217;t had a problem there.<br \/>\n1:44:13<br \/>\nI think it&#8217;s too early to tell, really, but, but yeah, if you want to do something real quick, it&#8217;s just because I don&#8217;t have expertise in Australia. With their system of registering the company. There&#8217;s 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 \/>\n1:44:31<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&#8217;t heard back from her, so I guess everything&#8217;s good. Let&#8217;s see.<br \/>\n1:44:42<br \/>\nJust how it goes: Insurance 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&#8217;s interesting, because I would want to know, OK, I&#8217;m sorry guys, I didn&#8217;t repeat this. The insurance program is basically the probability that the insurance premium is being paid by the client.<br \/>\n1:45:03<br \/>\nSo, you&#8217;re investing in the cash flow, and the claims are kept within a certain range? Yeah.<br \/>\n1:45:07<br \/>\nYou&#8217;re in &#8230;, 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&#8217;s cash flow.<br \/>\n1:45:20<br \/>\nAnd you&#8217;re 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&#8217;m sorry if I didn&#8217;t wasn&#8217;t clear on that, &#8230; dot com, it&#8217;s up there now.<br \/>\n1:45:44<br \/>\nIf we go.<br \/>\n1:45:47<br \/>\nNow you&#8217;re going to see a different view on my page.<br \/>\n1:45:53<br \/>\nBecause I&#8217;ve got my My IDs on there, But basically that&#8217;s what it looks like, right.<br \/>\n1:45:57<br \/>\nSo see how here, it doesn&#8217;t move the Help button, Right? So, I just click on that, and all we&#8217;re gonna do is ask your e-mail. So, if it gives your e-mail, it&#8217;s really cool and you can upload like five documents.<br \/>\n1:46:08<br \/>\nIf you have a PDF or something, gives upload five documents, then you could, you can make up a name, if you want, I don&#8217;t care.<br \/>\n1:46:15<br \/>\nTell us what you&#8217;re talking about, then, you know, whatever, and then, just like anything, tell us, you&#8217;re not a robot.<br \/>\n1:46:22<br \/>\nThat&#8217;s really important.<br \/>\n1:46:24<br \/>\nAnd then we go, OK, we&#8217;re 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&#8217;re now reviewing it. Hmm, hmm.<br \/>\n1:46:46<br \/>\nMaybe they have high volume.<br \/>\n1:46:49<br \/>\nThat&#8217;s the nature of the business, I suppose.<br \/>\n1:46:52<br \/>\nIs there someone else that, Frank, did you wanna ask you 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&#8217;ve got some sounds. Stop, go our money, output that way.<br \/>\n1:47:15<br \/>\nOh my gosh. Yeah. Keep tell my wife, she&#8217;s not wasting your time on e-bay and stuff, and for her, it&#8217;s a hobby, and I don&#8217;t know. She gets the movie points and stuff. And nobody wants to know.<br \/>\n1:47:23<br \/>\nActually, B buys me a silver coin.<br \/>\n1:47:27<br \/>\nSo, I&#8217;ll shut up, right? Yea, I got silver for free.<br \/>\n1:47:31<br \/>\nIt seems like it&#8217;s for free, yeah.<br \/>\n1:47:32<br \/>\nBut I was like, if you&#8217;re going to spend that much time on the computer, why not buy an online store.<br \/>\n1:47:39<br \/>\nThat sells the stuff you&#8217;re already dealing with?<br \/>\n1:47:41<br \/>\nThen you can add in your products, and she hasn&#8217;t done it yet. So I can&#8217;t make it it.<br \/>\n1:47:45<br \/>\nBut anyways, I show beginning people, or people that just like coming to me, and they&#8217;re, they&#8217;re in their sixties. And I can show people that they can use the Internet, You don&#8217;t have to be tech savvy. I&#8217;m not, I don&#8217;t want to be. But you can find a broker of a website, that&#8217;s a business. It may be brick and mortar, but it may also only be website. It&#8217;s up to how you want to do it. You can choose.<br \/>\n1:48:05<br \/>\nIf 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.<br \/>\n1:48:12<br \/>\nWithout employees, lot of times, it&#8217;s 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&#8217;ve never, I haven&#8217;t done this, but I&#8217;ve done other things. They&#8217;re like this. And I&#8217;ve had clients do this with great success. If They&#8217;ll just do it, because some are afraid, but I found one the other day and there&#8217;s a couple of things I like. I like vanity products, like pet supplies. I like baby things, baby products.<br \/>\n1:48:38<br \/>\nI like exercise equipment, but anything that&#8217;s a vanity.<br \/>\n1:48:41<br \/>\nSo the one I found the other day was Women&#8217;s 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&#8217;m 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 as 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&#8217;s free money. It&#8217;s free money and you got a craze. And you&#8217;ve got a fulfillment center. I need to plug it in a merchant account. And if you have, if you&#8217;re a high volume of customer, contact you, just outsource that.<br \/>\n1:49:26<br \/>\nHmm. Yeah. Well, that&#8217;s there. There&#8217;s another one.<br \/>\n1:49:29<br \/>\nOK, So this one woman, I was, um, OK, So she found, she fell one for 18,000 and it, 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&#8217;t ask me to finance it to you. And so, she calls me like a week later, And so we&#8217;re 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&#8217;t accept terms, and I said, so, she goes, What means?<br \/>\n1:49:58<br \/>\nSo, I said, Well, Did you make an offer? She said, No.<br \/>\n1:50:02<br \/>\nI was like, Well, make an offer.<br \/>\n1:50:04<br \/>\nBut he said, he won&#8217;t take turns and I didn&#8217;t want to pay cash for it. I said, I don&#8217;t 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&#8217;t want terms. Ask them, why are his books a fraud?<br \/>\n1:50:17<br \/>\nYeah, yeah, he&#8217;s lying, right, and then it turns it around, he&#8217;s like, well, no, but we&#8217;ll come on who couldn&#8217;t wait for two months, OK, so he wants 18 grand. He&#8217;s netting $7000 what&#8217;s going to take 2.5 months? 10 weeks?<br \/>\n1:50:32<br \/>\nWhat&#8217;s the problem with 10 weeks?<br \/>\n1:50:34<br \/>\nRight.<br \/>\n1:50:34<br \/>\nYeah, 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&#8217;m going to just summarize what they&#8217;re doing. A lot of these people that are doing this are really good. Somehow it generating a business, all of a sudden, and making cashflow. They run it for about two years and then sell it. So, it&#8217;s like flipping URLs.<br \/>\n1:50:58<br \/>\nI don&#8217;t 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 xchange 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&#8217;s, I think it&#8217;s public on YouTube, on, on privacy, fight.<br \/>\n1:51:19<br \/>\nI have a series of those videos where I&#8217;m 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&#8217;t you offer a thousand dollars non-refundable down an offer to pay him $19,000 and he&#8217;ll finance it so coming up with an offer, he&#8217;d never accepted. Expected, right, it&#8217;s something new.<br \/>\n1:51:39<br \/>\nI&#8217;m not saying you have to do that and I&#8217;m in fact I want to make an offer where the person says, that&#8217;s insulting.<br \/>\n1:51:46<br \/>\nMean, maybe or.<br \/>\n1:51:48<br \/>\nI want him to say, no, yeah, right.<br \/>\n1:51:51<br \/>\nBecause, then I know where to start with him, if I can.<br \/>\n1:51:56<br \/>\nSo, yeah, it&#8217;s kinda fun. You&#8217;ll find it. So you&#8217;ll just need a merchant account. And a little bit of, maybe you go to &#8230; dot com, and have someone build your site, my son, who&#8217;s 17 today. He&#8217;s 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&#8217;s doing.<br \/>\n1:52:12<br \/>\nAnd he found a whole package where they&#8217;ll 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&#8217;s OK?<br \/>\n1:52:23<br \/>\nIs it possible that I can just change that and just refund my money Because I can see now that I can do that myself?<br \/>\n1:52:30<br \/>\nSo, I said, Hey, do whatever you want, you know?<br \/>\n1:52:33<br \/>\nSo, it&#8217;s not that hard.<br \/>\n1:52:36<br \/>\nOK?<br \/>\n1:52:37<br \/>\nI use that for offsetting liabilities. If I want to buy, you know, some motorcycle or something to waste my money on a boat or something, I&#8217;ll 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&#8217;s always an interesting topic, I love showing people that because, you know, some people come to me and they&#8217;ve been gutted by the IRS or something. They, they spent their whole lives doing things to, to have a nice retirement and the iris took advantage of that and they were just unsophisticated. They didn&#8217;t see and they got bad advice and they got everything taken from them. And so they&#8217;re 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&#8217;s 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&#8217;s never been easier, It&#8217;s never been easier to create some new cash flow Also. John, let me ask you real quick, while I got you.<br \/>\n1:53:38<br \/>\nSo, I&#8217;ve gathered that, you&#8217;ve done a lot of getting people out of credit card debt or fighting the creditors.<br \/>\n1:53:47<br \/>\nUm, so, my wife has a lot of credit card debt that&#8217;s done that&#8217;s old and been written off. Well, not real old, but within the last couple of years.<br \/>\n1:53:57<br \/>\nWhat is the, what is the most efficient way to go about? Go about getting her credit rebuilt. I 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&#8217;t know if you have any, if, you know anything about that. As far as, Yeah, I never settle. Never, settle it! Never thought you&#8217;d 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&#8217;re 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&#8217;s not, it&#8217;s never productive. It&#8217;s never to your advantage to talk to them on the phone So, instead, you just asked them to send you a letter. That&#8217;s 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&#8217;m like, I want to copy the contract, and then, who cares what they say? It doesn&#8217;t matter. You just responded. It&#8217;s OK.<br \/>\n1:54:59<br \/>\nBut, if they&#8217;re not going to sue you, and she&#8217;s going to stay on your credit, and it goes to a debt collector, the fixture credit, You just be 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, you 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&#8217;t care what the response is.<br \/>\n1:55:32<br \/>\nBy the way, they could do whatever, it doesn&#8217;t matter, because they will not be able to survive a fair credit reporting act review.<br \/>\n1:55:40<br \/>\nMeaning, that you didn&#8217;t have a deal with that debt collector, and it&#8217;s reporting on your credit file, and you didn&#8217;t authorize that.<br \/>\n1:55:48<br \/>\nYou record it, you&#8217;re, you&#8217;re 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 ask for validation, and then I, however, they respond, I usually use that validation if I need to with the Bureau.<br \/>\n1:56:04<br \/>\nBut, most of the time, I don&#8217;t 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&#8217;s one little paragraph, and the Fair Credit Reporting Act, that has that, those criteria in there.<br \/>\n1:56:19<br \/>\nIt antedates the report by more than seven years, it was reported without a permissible purpose.<br \/>\n1:56:23<br \/>\nIt&#8217;s inaccurate purpose, I&#8217;m 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&#8217;s fine.<br \/>\n1:56:38<br \/>\nCertify is OK, too, you don&#8217;t have to be certified.<br \/>\n1:56:40<br \/>\nAnd then, if it&#8217;s 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 \/>\n1:56:58<br \/>\nSo I&#8217;ll send you the PDF file.<br \/>\n1:57:00<br \/>\nUh, if you have to go to federal court, you&#8217;ll win and you can get a thousand dollars per per item from whoever&#8217;s Breaking the law.<br \/>\n1:57:09<br \/>\nYeah, it&#8217;s kinda cool, so thousand dollars plus your filing fee if you had to pay it, so there&#8217;s 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&#8217;t be on your file from seven years from the date of last payment. So that&#8217;s 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&#8217;re not going to changes demos.<br \/>\n1:57:32<br \/>\nSo if Citibank sues you, it gets a judgement lien.<br \/>\n1:57:37<br \/>\nAnd then reports it, here&#8217;s what&#8217;s really happening. Citibank reports the first item.<br \/>\n1:57:41<br \/>\nYou can&#8217;t get it off your file for unless it&#8217;s inaccurate.<br \/>\n1:57:44<br \/>\nAnd chances are it&#8217;s 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&#8217;s called lexis nexis.<br \/>\n1:58:01<br \/>\nLexis nexis is a a reporting agency.<br \/>\n1:58:04<br \/>\nThat&#8217;s just like Equifax It&#8217;s 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&#8217;s credit.<br \/>\n1:58:17<br \/>\nHits Like this ill stepchild of the credit reporting, whatever. So Well, yeah. Yeah.<br \/>\n1:58:25<br \/>\nSo here&#8217;s the Achilles heel of the whole system because lexis nexis reported the judgement lien. And you didn&#8217;t give permission.<br \/>\n1:58:33<br \/>\nThere&#8217;s no permissible purpose.<br \/>\n1:58:35<br \/>\nSo you have to dispute it with lexis nexis.<br \/>\n1:58:39<br \/>\nThat&#8217;s the kind of secret.<br \/>\n1:58:41<br \/>\nAnd again, you have the claim and Fed Court if it&#8217;s not fixed.<br \/>\n1:58:48<br \/>\nThat&#8217;s 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&#8217;s the remedy.<br \/>\n1:59:15<br \/>\nAnd here&#8217;s what I do for people. So I would just recommend this.<br \/>\n1:59:19<br \/>\nMy, my credit is around 600. Maybe it&#8217;s 590. I don&#8217;t know.<br \/>\n1:59:22<br \/>\nI deliberately leave it that way. I don&#8217;t care. I can have a score of 800 if I want. I don&#8217;t care I laugh at people, that brag about their credit.<br \/>\n1:59:31<br \/>\nI mean, it&#8217;s 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 a house I&#8217;m in right now.<br \/>\n2:00:26<br \/>\nMy, I rent this house and I I went to go through 20 deals 20 possible houses to get this one because most everyone said, we don&#8217;t 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&#8217;ll take two months downpayments, stuff like that.<br \/>\n2:00:46<br \/>\nAnd so that worked.<br \/>\n2:00:48<br \/>\nThat&#8217;s the kind of thing I&#8217;d rather do, than happy to do that.<br \/>\n2:00:53<br \/>\nYeah, do you use, do you still do know, these kinda things like clear? I hope it&#8217;s credit.<br \/>\n2:00:59<br \/>\nYeah. I&#8217;ll help you. Yeah, I can do it better.<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&#8217;ll help you with it, Um, I do it for promoting things. I don&#8217;t even like to charge money for it, but if you just show me the items on your credit.<br \/>\n2:01:14<br \/>\nIf I can see the actual item, I can tell you how to frame the dispute, and then show you how to do that process and?<br \/>\n2:01:21<br \/>\nI&#8217;ll help, OK, Hopefully we don&#8217;t 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&#8217;s 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&#8217;s not behind on it.<br \/>\n2:01:50<br \/>\nBut just to shield that trust property from any potential creditors that that&#8217;s the perfect example of putting, putting that housed in an LLC, right? That&#8217;s the use of it. But there&#8217;s 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 wife will will still attached to the new owner&#8217;s interest in the property that she did previously owned.<br \/>\n2:02:20<br \/>\nIt will still attach, So follow.<br \/>\n2:02:24<br \/>\nSay, I don&#8217;t, what do you mean by that, I&#8217;m not sure if, so, do you own a house if you own a house?<br \/>\n2:02:30<br \/>\nYeah, there&#8217;s a judgement lien against your name and your name is on the title, and the judge has all the 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&#8217;re saying Do it ASAP, before.<br \/>\n2:02:53<br \/>\nThere&#8217;s a, yeah, definitely, yes.<br \/>\n2:02:58<br \/>\nGotcha, yeah, and, and don&#8217;t sell it by the &#8230; are there, alright. If you want, if you want to do something.<br \/>\n2:03:02<br \/>\nWhether it is rented out mean, because if they&#8217;ll just take all your equity, the only other way around that is to file 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&#8217;m using for the kryptos that I have not file a tax return yet? Or you don&#8217;t want to mix those, kryptos? I&#8217;m fine, That&#8217;s fine.<br \/>\n2:03:28<br \/>\nBut one of the other measures I use is that, if my LLC that I&#8217;m owning my house with, my house I live in, as a crypto portfolio, and I don&#8217;t really care how big that portfolio is, If I&#8217;m the only investor in that portfolio, I&#8217;m 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? It&#8217;s also highly liquid, so that means I&#8217;m not stuck with that, I can move money around, and also kryptos or different creatures.<br \/>\n2:03:56<br \/>\nLike, the debt collection system is not geared yet to grabbing any money from crypto difficult situation, so you&#8217;ll be fine. Now, if you take on a business partner or something like that, and you&#8217;re running a business.<br \/>\n2:04:07<br \/>\nCertainly, you want to isolate that from your, your portfolio, So that&#8217;s 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&#8217;m glad this is worked out for you guys. I&#8217;m glad to cover these these topics, Somebody was asking me something here. What was it?<br \/>\n2:04:26<br \/>\nYeah, this one&#8217;s, this one&#8217;s recorded.<br \/>\n2:04:28<br \/>\nSo I&#8217;m gonna, I&#8217;m gonna make this available Let&#8217;s see.<br \/>\n2:04:34<br \/>\nYeah, appreciate your comments, Let&#8217;s see here.<br \/>\n2:04:37<br \/>\nDeals insurance for OK, sounds good.<br \/>\n2:04:40<br \/>\nIf 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&#8217;m 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&#8217;ve never used it since I take the back, I probably is it twice since then, Um, 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&#8217;m gonna find out what exactly the banks doing with this SSM, when I apply for an account. And I reverse engineered it and I did a lot of research. I talked to the bankers, I forget what I did, but I did, I did liquid at a database that&#8217;s maintained, I believe.<br \/>\n2:05:38<br \/>\nIt&#8217;s still published by the national security agency, the NSA, and it took me back to some publication, which I don&#8217;t 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 \/>\n2:06:07<br \/>\nAnd then it checks to see if there&#8217;s a credit file, that&#8217;s all it&#8217;s checking for, it doesn&#8217;t connect into the IRS and there&#8217;s no, there&#8217;s talking back and forth and stuff like that.<br \/>\n2:06:15<br \/>\nSo It also does, one other thing, it checks to make sure that that number has not been assigned to a dead person, so it&#8217;s called, Checking Against the Death Index file.<br \/>\n2:06:26<br \/>\nSo as far as CPM&#8217;s go, and I know I&#8217;m giving you a long answer here, you can use a credit profile number and it&#8217;s 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 CPS credit profile number. Not your SSN at all.<br \/>\n2:06:54<br \/>\nUm, and you&#8217;re not going to be a problem at all, Or there&#8217;s not going to be just don&#8217;t get interest on the account.<br \/>\n2:06:58<br \/>\nSo you might get better with holding if you care back of a toy.<br \/>\n2:07:04<br \/>\nSo, I don&#8217;t normally market that service by itself.<br \/>\n2:07:09<br \/>\nI thought it was cool in the very beginning, But, really, I found that the wrong people were attracted to it, not to say that you&#8217;re going to do anything wrong with it, but the common question that people are asking me about the computer or they are the credit profile number is whether or not it&#8217;s legal. So a person would come to me with a problem. And I would suggest, OK. Well, hey. Look, Let&#8217;s set up a new credit file because in your situation that makes sense to do that.<br \/>\n2:07:29<br \/>\nNow, I 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&#8217;s some person in her family, she doesn&#8217;t know exactly who it isn&#8217;t or she can&#8217;t stop them, and they keep using your credit.<br \/>\n2:07:49<br \/>\nI don&#8217;t know what the heck is going on, and maybe she didn&#8217;t tell me everything, But I said, well, no matter what you&#8217;re doing, it&#8217;s not working. So, then, let&#8217;s just do this, Let&#8217;s just, start, start a whole new, quick, clean file, which is what she&#8217;s 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&#8217;s literally just like you got out of high school or college, right? That&#8217;s kind of what we&#8217;re doing.<br \/>\n2:08:13<br \/>\nUm, so anyways, I would, I would recommend it for some people that have, uh, just no other real option. Now, some people just want to do it, because it sounds cool.<br \/>\n2:08:24<br \/>\nUm, I don&#8217;t recommend that.<br \/>\n2:08:28<br \/>\nI really don&#8217;t prefer that.<br \/>\n2:08:29<br \/>\nI mean, I&#8217;ll 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 a good idea because you want to maybe create a straw person, which is a big, a big project, um, And I&#8217;ve never done it, By the way.<br \/>\n2:08:45<br \/>\nI&#8217;ve done it for people.<br \/>\n2:08:47<br \/>\nWhen they needed it, but I don&#8217;t need to do it for myself. If I want a straw person, I&#8217;ll just set up a company. I don&#8217;t 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&#8217;s 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 \/>\nStarted started. Give us such a long answer.<br \/>\n2:09:10<br \/>\nOK, yeah, I&#8217;m glad. I&#8217;m glad it helps. I appreciate your comments. I&#8217;m 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&#8217;s no judgement, you can do it with a judgement.<br \/>\n2:09:21<br \/>\nThat&#8217;s the whole thing.<br \/>\n2:09:22<br \/>\nI mean, there&#8217;s a law called the Fraudulent Conveyance Act.<br \/>\n2:09:27<br \/>\nIt&#8217;s national, but each State has its own version of that law. I think it&#8217;s even yeah, it&#8217;s it&#8217;s 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&#8217;s 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&#8217;s a fraudulent conveyance. But it&#8217;s 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 \/>\nWhen a kashyap 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&#8217;s 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&#8217;s 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&#8217;s the case, If I anticipate that, I would probably send $100,000 first.<br \/>\n2:10:47<br \/>\nAnd then, I would send another $100,000, whatever.<br \/>\n2:10:50<br \/>\nBut FinCEN is your biggest enemy here.<br \/>\n2:10:52<br \/>\nIt&#8217;s not red flags, FinCEN, realistically, Financial Crimes Network. The presumption that you&#8217;re 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&#8217;s just that when I have a client in situation that involves FinCEN, I do things a little bit differently to get them out of that situation.<br \/>\n2:11:22<br \/>\nBut, yeah, they&#8217;ll just get a fool with your money.<br \/>\n2:11:24<br \/>\nOne million dollars is like $23 million, these guys don&#8217;t.<br \/>\n2:11:27<br \/>\nIt&#8217;s not that if you&#8217;re doing something like, let&#8217;s say you&#8217;re 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&#8217;s three times a paycheck and you put it in with your paycheck.<br \/>\n2:11:42<br \/>\nHere&#8217;s 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 \/>\n2:11:58<br \/>\nBecause it was an unusual transaction, but it fell within a certain threshold. Now, I&#8217;m just guessing, because I am, I understand risk management systems like this that I&#8217;ve worked with for many years. I&#8217;m just guessing what FinCEN does. No one&#8217;s ever going to know because it&#8217;s a police function. So, they&#8217;re not going to tell us, they can&#8217;t.<br \/>\n2:12:15<br \/>\nUm, but we probably have all had FinCEN reports at one time or another that we&#8217;ll never know about. And just like that, just &#8230; transaction I just told you about, you probably will get one and you&#8217;ll never know about it.<br \/>\n2:12:27<br \/>\nNow, maybe if it&#8217;s a larger amount of money, maybe if you&#8217;ve 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 \/>\n2:12:38<br \/>\nA person, a 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&#8217;re gonna see all that. No problem, that&#8217;ll cover you.<br \/>\n2:12:49<br \/>\nAnd they&#8217;re gonna say, That doesn&#8217;t look like a money launderer to us. And you&#8217;re, you&#8217;re probably not gonna hear about it. You. I&#8217;ve never had a client in so many years.<br \/>\n2:12:57<br \/>\nUm, ever say, even before FinCEN was created, I&#8217;ve never had a problem where, and I&#8217;ve had clients. Not a lot. But a handful where there&#8217;s been large amounts of money in irregular amounts. And there were these scrutinies and things going on. And it&#8217;s mostly manual those times in the nineties, and early two thousands.<br \/>\n2:13:13<br \/>\nI&#8217;ve 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&#8217;s 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&#8217;m glad I&#8217;m glad my voice is hanke hung in there, so.<br \/>\n2:13:37<br \/>\nAnd so, there is, let&#8217;s see, one more person here.<br \/>\n2:13:41<br \/>\nDmitriy, would you want to ask, just quickly jump, so, going forward, since, no, 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&#8217;s 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&#8217;s say, buying, and you want to put the wholesomeness, But, you know, things that we&#8217;re not familiar with.<br \/>\n2:14:13<br \/>\nWhat, OK, what&#8217;s, Because I don&#8217;t, I don&#8217;t, I mean, I&#8217;ve talked to you several times, but other than the LLC, and how do you get a hold of you sort of how quickly, you know, OK, now this, this helpdesk is set up, I&#8217;m gonna have some avenue where people can do that. They&#8217;re not clients, never heard of me and said, Oh, I gotta get SSI question. I&#8217;m going to have that set up. So, yeah, I&#8217;m just going to tell you right now it&#8217;s 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&#8217;s not yet automated It will be, but yeah, that&#8217;s probably the best way to go.<br \/>\n2:14:45<br \/>\nOK, and that&#8217;s 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&#8217;m going to mention one more thing, and then we&#8217;ll end the call.<br \/>\n2:14:56<br \/>\nThanks so much for your participation. You guys did great. I always love your questions. They&#8217;re great. It&#8217;s helps. Everyone else, too.<br \/>\n2:15:04<br \/>\nI am going to do continue to do these calls, But intermittently I&#8217;m going to insert a call where it&#8217;s on a different platform with my partners and it&#8217;s a paid call and it&#8217;s some of the material that I&#8217;ve never published before.<br \/>\n2:15:18<br \/>\nBecause some of you have asked me for it and I believe it&#8217;s time to publish some of that stuff.<br \/>\n2:15:22<br \/>\nI believe it&#8217;s going to help people and 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 \/>\n2:15:31<br \/>\nI&#8217;m not going to do too many of those, and I probably will not make it available on the members area Just yet. I&#8217;m not sure yet. But just so you know, that may come out pretty soon. Um, I think it&#8217;s 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&#8217;m also, I don&#8217;t like the idea that, and I appreciate people&#8217;s patience, but I don&#8217;t like the idea that someone wants to talk to me, and he has to wait three months, it&#8217;s, nobody&#8217;s fault, but just how the things work.<br \/>\n2:15:55<br \/>\nSo, what I&#8217;m thinking is, if I have these calls on a group, on a group level, and instead of paying for my one-on-one consultation, if you&#8217;re willing to pay for a, less, a lesser amount, and come in with a group, and like we&#8217;re 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 And I want to discuss the process by which you would work with the broker, and, yeah, I&#8217;m going to ask them to promote the service. I don&#8217;t 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&#8217;ve 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 \/>\n2:16:47<br \/>\nMaybe, but, there&#8217;s this method out here. OK, now I wanna introduce you guys to that, that method, OK.<br \/>\n2:16:53<br \/>\nAll right, well, thanks so much again, and appreciate your participation. Ya&#8217;ll 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-302c23f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"302c23f\" 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-07b3b26\" data-id=\"07b3b26\" 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-4abb1ef elementor-widget elementor-widget-spacer\" data-id=\"4abb1ef\" 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-fdde87d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fdde87d\" 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-9a27726\" data-id=\"9a27726\" 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-b34c917 elementor-widget elementor-widget-text-editor\" data-id=\"b34c917\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Summary<\/strong><\/p><p style=\"padding-left: 40px;\">1. The host, John Jay, discussed issues with online connectivity due to a storm in Florida and advised listeners having trouble joining to call in using a phone number.<br \/>2. He addressed some difficulties with new concepts he introduces in his calls and discussions about LLCs, acknowledging the need for follow-up conversations for full understanding.<br \/>3. John explained the role of the W-9 form when setting up a new LLC in the United States and how it is used to document cash flow.<br \/>4. The host discussed alternative options for those who haven&#8217;t yet set up an LLC, emphasizing the freedom to trade and profit as long as assets aren&#8217;t taken in personal names.<br \/>5. John addressed issues with annual report renewal for LLCs, indicating possible penalties for delayed submissions, and suggested setting up a new company if the LLC is significantly outdated.<br \/>6. He discussed asset allocation and diversification across multiple investment vehicles, such as real estate, precious metals, and small businesses.<br \/>7. John advised his listeners to learn from a range of experts in various fields and emphasized the importance of diversifying investments, using real estate as an example.<br \/>8. The host discussed how to fill in the W-9 form and advised against using California addresses in line 5 and 6 due to potential complications.<br \/>9. John clarified queries on handling brokerage accounts, LLCs, and Trusts, emphasizing the use of one title per Trust.<br \/>10. Towards the end, John shared his personal philosophy on estate planning using a Private Membership Association (PMA) and addressed questions on how to handle certain tax documents, consultancy business income, and potential business investments.<\/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-893deb2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"893deb2\" 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-77c9ff3\" data-id=\"77c9ff3\" 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>U53 &#8211; Thursday Evening Chat September 2, 2021<\/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\/19688"}],"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=19688"}],"version-history":[{"count":6,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/19688\/revisions"}],"predecessor-version":[{"id":25649,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/19688\/revisions\/25649"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=19688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=19688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=19688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}