{"id":23977,"date":"2023-02-22T15:26:12","date_gmt":"2023-02-22T20:26:12","guid":{"rendered":"http:\/\/privacyfight.io\/?p=23977"},"modified":"2023-06-26T14:09:16","modified_gmt":"2023-06-26T18:09:16","slug":"u85-yes-you-can-do-that-with-your-llc","status":"publish","type":"post","link":"https:\/\/privacyfight.io\/u85-yes-you-can-do-that-with-your-llc\/","title":{"rendered":"U85 \u2013 Yes, You Can Do That with Your LLC"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"23977\" class=\"elementor elementor-23977\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-47d7d5e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"47d7d5e\" 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-a7fb260\" data-id=\"a7fb260\" 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-e648890 elementor-widget elementor-widget-shortcode\" data-id=\"e648890\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\"><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\/798916255\/?\" 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            0:06\r\nHi, everybody, Thanks for joining today's January 26. We're gonna cover some things on the l.s.h., some basics, and also, I just want to kind of motivate you guys to go ahead and use it saying for what we intended to use it for. So, that's why I wanted to talk about, and I gave you a couple of...        <\/div>\r\n        <div class=\"vidseo_collapse_content\" style=\"\">\r\n            <p>0:06<br \/>\nHi, everybody, Thanks for joining today's January 26. We're gonna cover some things on the l.s.h., some basics, and also, I just want to kind of motivate you guys to go ahead and use it saying for what we intended to use it for. So, that's why I wanted to talk about, and I gave you a couple of bullet points here.<br \/>\n0:20<br \/>\nAnd, like I always do. But, the message for today is? Yeah, you can do that mostly when you call me and asked me, Are you write me an e-mail? And you say Johnny got the situation. You describe the situation, and you ask, Is it OK to use the LLC for that, most of the time? Yeah, that's what you're supposed to be doing with it. That's what thousands of people before you did last month. It's just new to you and you're unsure of yourself and understand that I was there, but I just want to say, you know, what, are you waiting for it? Make your plans, do your contracts and the name of the LLC.<br \/>\n0:49<br \/>\nAnd so I'm just going to run over briefly what I normally start out with with most people, and then as as time goes on, they find more specific applications.<br \/>\n1:00<br \/>\nSo for the most part, I'm showing people how to manage cash flow and instead of putting most of the money that they need in, in their names, they're using an LLC and so they're divesting the personal Aspect, the personal relationship or ownership of that cash away from themselves as it's held out of their state OK.<br \/>\n1:22<br \/>\nIn the LLC and that protects the LLC from personal liability being attached to the property that's being held by the LLC, All right, so that's probably the most common use. And then of course, we can we can replace the account holder that you're currently using, which is in your name. You're accountable for third parties like crypto exchanges. No Vault stored precious metals. If you have precious metals in your possession, it doesn't matter.<br \/>\n1:46<br \/>\nIf you want to, in your mind, claim that in your mind, or hold the idea that your LLC or your trust or something owns it, it doesn't matter. Nobody cares. You extend your possession. So it's not a third party VoLTE service. So their securities and investments, you know, your stock accounts and things like that.<br \/>\n2:03<br \/>\nI don't.<br \/>\n2:05<br \/>\nWe're not using the LLC, the way we're talking about it, to replace necessarily your pension fund trustee or custodian of those, that system is already in place, and that system is a trust. The four oh, one K is IRAs, those are already trust. So that's a little bit different. I have set those up, but I really don't care about those. I actually think it exploits people. So I don't talk about those too much, but, we use them for professional income. Like, if you're a dentist chiropractor, you want to be a teacher, you know, give lectures or whatever. And, of course, business income, and single, single transactions. Or, you know, that leads me into this next thing.<br \/>\n2:41<br \/>\nA lot of people asked me several times, when I think they should already know.<br \/>\n2:46<br \/>\nYou can close on the sale of real estate, in the name of the LLC, and you can do it.<br \/>\n2:52<br \/>\nIf you've listed the thing, and you've already got a contract pending before the closing date, you can assign your rights to the contract to sell the property. You can assign those to the LLC.<br \/>\n3:02<br \/>\nYou also should officially record the change of title with the county before. Don't rely on the closing company to do this. Don't rely on some attorney. They won't do it this way. You have to do it yourself. So you record a quitclaim deed from yourself as the grant or to the LLC as the grantee.<br \/>\n3:19<br \/>\nNow, when I, when I mentioned this, moving the title of your house, or a piece of real estate to an LLC, I don't know why everyone's surprised. I mean, it's like it always, it's the same thing every time and you guys are smart, it's not that, you're not .... You're, you're thinking, how do I do that? And so the funny thing is you actually own the property, OK?<br \/>\n3:40<br \/>\nYou acquired the property from somebody else and the way you did it was with a quitclaim deed, which is in your possession, I hope.<br \/>\n3:47<br \/>\nAnd so, really, all you need is that document, which is usually one page.<br \/>\n3:51<br \/>\nAnd you switch over the grantee grand tour. That's it.<br \/>\n3:55<br \/>\nNo, so it's a very simple thing. I'm seeing it that way, because I don't want you to be intimidated by this stuff.<br \/>\n4:01<br \/>\nSome of you aren't, Some of you are, I get it.<br \/>\n4:04<br \/>\nThe other way of using the LLC is to make it the lender on some real estate, where you're the owner, OK. That's called stripping, the equity.<br \/>\n4:13<br \/>\nAll right.<br \/>\n4:18<br \/>\nSorry about that, guys. How to meet somebody. Alright, so there's that. We use we, so so I'll give you a rundown on how we do that.<br \/>\n4:24<br \/>\nSo changing title quitclaim deed, very simple. It takes a few minutes to fill that out.<br \/>\n4:30<br \/>\nI got a video in the members area. It shows you how to do In fact, I think I did it for a few states.<br \/>\n4:34<br \/>\nI think I did it for New York and Colorado and South Carolina, maybe California. And there's a little, the video on there explains how to avoid the, the the Dunes are not the The the capital Not the cap against but how to avoid the tax on the sale.<br \/>\n4:49<br \/>\nSo it's all there and then To be a lender I always use it. I believe is Sallie Mae. Sallie Mae his website. Sallie Mae ... website has all the mortgages for all 50 states. There's, these are government mortgage forms. You don't need them. You can't just go get a mortgage document yourself. Get a blank one.<br \/>\n5:07<br \/>\nIt's a mortgage lien instrument. It's a trust deed. If your state calls for trustees or it's a mortgage loan, like in Florida, we do mortgage lanes in California's as trustees, you get the one that's appropriate for your state.<br \/>\n5:18<br \/>\nAnd what I do is again, I have a video on how to, how to do this. But basically, I fill in all the information about the, the amount of money that's being loaned on the property. So if I want, if I have a house that's, let's say it's clear title.<br \/>\n5:31<br \/>\nIt's worth, if I could reasonably sell it today, for $200,000. I'm probably going to put a mortgage on there if I want to strip the equity. My company is going to be the lien holder. That doesn't mean money needs to change hands. But what I'll do is I'll write the mortgage for, let's say, $150,000, and then maybe I'll do a second mortgage for another $50,000, just to give myself a little more ability to do things. You know, I can have some liquidity and whatnot.<br \/>\n5:55<br \/>\nAnd so, that's the other way of doing it.<br \/>\n5:57<br \/>\nNow, once I, once I put all the numbers in the mortgage instrument, I still have to calculate through an amortization what the payments will be. Excuse me.<br \/>\n6:06<br \/>\nAnd so that goes on the note and So that's again explained in the in the video, But the answer is Yes, You can use your LLC for all these things. I know it sounds weird And you talk to other people that if you were to have this conversation with them. They would think you're doing something illegal And And that's just because they've never done it and you're willing to to to do it because you're just fed up with being exploited probably.<br \/>\n6:28<br \/>\nAnd so here we are I Mean, that's how I started doing this.<br \/>\n6:31<br \/>\nI, I, I learned this in a vacuum. I didn't have anybody to tell me. Yeah, you can do that. I just had to figure it out. So you're safe and you're gonna break anything, you're not going to break. You're not gonna get busted by the feds. There's nothing wrong. Nothing illegal with any of this stuff. And then same thing with the owner of a vehicle. Now, if you ask me things like, hey, John, can I transfer my property? Whatever it is over to this LLC or all my property to the LLC, I'm going to ask always, I'm going to ask, which you should ask yourself.<br \/>\n7:01<br \/>\nFirst of all, why?<br \/>\n7:03<br \/>\nBecause I watched a YouTube video that said, this is a thing to do, because the person who did the video is selling you something for $2200 or something like that. I don't know, just price.<br \/>\n7:14<br \/>\nI mean, anytime you're going to change the way you're, you're holding or managing property, there has to be a reason, and typically that reason is either going to be, to manage risk, reduce risk, or make more money.<br \/>\n7:26<br \/>\nSo if you're just going to do it, because it sounds cool, that's probably not a good reason, OK, Or because your friend did or something, so owner of a vehicle, it's not necessary to own vehicles out of your name.<br \/>\n7:39<br \/>\nThere's, there's very little need for that.<br \/>\n7:41<br \/>\nIt's not good for asset protection.<br \/>\n7:42<br \/>\nProbably the only thing that's good for is to maybe hide wealth maybe, or maybe to avoid attacks so that you don't have income. So you want to put the vehicle in the company name.<br \/>\n7:52<br \/>\nThat makes sense, because if I have a tax deferred income, I don't want to just put the vehicle in my name and then leave it like that, because that becomes taxable income.<br \/>\n8:02<br \/>\nSo, instead, I'll just make the owner, an LLC, or a trust or the next point here is Make it the lender on the on the acquisition of the vehicle.<br \/>\n8:11<br \/>\nOK, So that's the other thing is we could make them make it a lender and So with the LLC We can do, which is versatile, so, so I can I can use one LLC, and I can use the lien aspect of it to strip equity, and I can use the, the name of the LLC to hold title to something even if the two things are different, right. It's a, it's unlike risks, like a car and a house. I can use the same LLC to do both, so I can own my house with an LLC, and I can put a lien on my car with the same LLC and I'm not mixing them in the same liability.<br \/>\n8:44<br \/>\nSo my my car can blow up and it won't affect my house and vice versa. All right. So, that's really all I wanted to talk about, just just to set the stage.<br \/>\n8:53<br \/>\nAnd I, I hope I'm reading you all well enough, I mean, as I'm answering questions throughout the week, I hope I'm understanding that a lot of the questions, I think I'm getting are just, you're just unsure and that's OK, I just want it just propose this idea to you.<br \/>\n9:11<br \/>\nJust do it, You know? Just just do it, and I guess my quote, if I were you, my question would be, how do I do it?<br \/>\n9:18<br \/>\nRight, and I have enough videos that explain the technical aspects of doing these things, but yeah.<br \/>\n9:25<br \/>\nThe answer is, it's a tool. Among many, there's a, there are a list of tools that you can use for what we're talking about, I like the LLC because it's easy to talk about it. It's foolproof. You can't really mess up a situation. You can't make it worse. I mean, I've rarely seen that, OK, if I'm using an LLC. A trust, maybe.<br \/>\n9:45<br \/>\nIt depends.<br \/>\n9:47<br \/>\nBut LLCs are pretty clean. Even expired charter's, OK, they're going to be recognized by the courts.<br \/>\n9:52<br \/>\nSo it's pretty, it's a pretty good deal. And there's no capitalization requirements, so you have all these things going for you using an LLC and they're so versatile, I mean, you can change the ownership every day.<br \/>\n10:04<br \/>\nYour Operating Agreement, it's private, it's only yours. And that says, this is why I show you, when I give you your documents. I show you how to interact with the banks. They still don't give up your actual privacy or your Operating Agreement.<br \/>\n10:16<br \/>\nYou're gonna give the bank a fake one. I put that in the abstract documents, OK? And it doesn't matter anyways, because even if you gave the bank, the actual one, who's to say, Wouldn't amended the next day, and what's the bank have to do with that, right, so it doesn't even matter what you're given the bank.<br \/>\n10:32<br \/>\nSo, I'll just end with that, and we can do Q and A I hope that it is useful.<br \/>\n10:37<br \/>\nJust go for it, right?<br \/>\n10:39<br \/>\nUse the thing, what we're trying to do.<br \/>\n10:44<br \/>\nLet me see if I can do this, maybe I can see if there's Alright, so, Chris, you have a question.<br \/>\n10:52<br \/>\nYeah. Hi, John.<br \/>\n10:55<br \/>\nJust bought your ultimate package, went through all the videos pertaining to ... and then LLC's.<br \/>\n11:03<br \/>\nWhat what I think the problem that you probably are getting, all these questions is, people don't, at least in the videos, it sounds like you're focusing in on using the LLC as a real estate, whole slash holding company slash crypto Holding company, and that's why I like, I'm not gonna, I mean, I'm going to do that with a different company to follow your path. But the main purpose, I'm trying to figure out, go through your stuff right now, like rapidly, because I'm trying to create my own business with marketing and stuff like that with a partner. And so, it, kinda like. The videos. Delineate, OK?<br \/>\n11:46<br \/>\nWell, if this is the business business, like a regular business, Or a crypto, or holding company, and then if you have partners, or if you don't, And, that's a fantastic, I appreciate that. That is fantastic. OK, so, here's how I look at it.<br \/>\n12:01<br \/>\nIf I set up an LLC and I want to have, and I'm, I'm gonna own, let's say my car with it, OK? Let's get on my car with it, but I can also have a bank account for it, right? I mean, typically, I should have a bank account for an LLC, and I'm going to own my car with it.<br \/>\n12:14<br \/>\nWell, if I'm gonna have a bank account with cash in there, what's the difference between having a cash bank account and a crypto account?<br \/>\n12:21<br \/>\nThey're both almost the same liquidity, right?<br \/>\n12:24<br \/>\nSo, that's why I say, sure, Use your LLC for your vehicle, and also the same LLC for your kryptos. Now, if you have a crypto type business, and they're doing something with it as completely different, maybe you want to isolate that with a different LLC. Now.<br \/>\n12:37<br \/>\nWhat you describe is, you're taking your LLC, and we're running a business with it, and you have a partner, let's say, and that changes the beneficial interest. And that's the key. Do I change beneficial interests with my LLC? if I do like this? This is in my situation, too, when I taken revenue, I just take it from one LLC, and then I send it wherever I need to go.<br \/>\n12:57<br \/>\nBut, if I wanted to take on a partner, I gotta set up a whole new business, because that's, that's a whole unique set of interests.<br \/>\n13:06<br \/>\nSo, that would be another deciding factor as to whether or not you're going to use a separate LLC?<br \/>\n13:12<br \/>\nYeah, I think maybe a 4 by 4 or 2 by 2 grid might be helpful, but yeah. Yeah. Yeah, yeah, OK.<br \/>\n13:20<br \/>\nSo, it sounds like it sounds like, so the LLC is a, so the purpose of the LLC is a, to separate out liability number, one, like, manage risk away from yourself, and then.<br \/>\n13:34<br \/>\nIt sounds like that, and then maybe like, that whole thing where you don't eat, it's always in transit. And so it's time to continue the tax deferred, OK? So, those are, Those are the two purposes for LLC.<br \/>\n13:48<br \/>\nDoes that's the most popular, put it that way.<br \/>\n13:50<br \/>\nI mean, it's, it's really to manage risk. I mean, that's what any company is for us to manage risk.<br \/>\n13:55<br \/>\nYou can't do it that way effectively in your own name.<br \/>\n13:58<br \/>\nYou really can't because you have too many things you're doing in this in this world, right? You're driving a car. You can get into a bar fight. You can be accused of money laundering. You could be married and divorced, you know there's all kinds of things that happen to you, but with a corporation it's an innocent nothing. It just does, what The thing is that You want it, you know, yeah, OK, so it sounds like those kind of, like the two big benefits that would cover. Everybody probably knows. Maybe the second thing that I have no problem with going through the videos was, OK. What's the purpose of connecting it with the PMA and what if?<br \/>\n14:35<br \/>\nThere's two people in the LLC ash, and well there has to be more than one person in the PMA or else is not association.<br \/>\n14:43<br \/>\nSo could it be the same two people, or do I need three people to like diversify the the the ownership even more, OK? Well owning an LLC, so a PMA or a trust interchangeably is, it's just a different type of ownership.<br \/>\n15:00<br \/>\nWhy I would do that is because my client, maybe he doesn't have a partner, maybe there's just he just completely alone. There are people that just don't have anybody they can work with or name in there. And so I'll just use a PMA, OK? Well, we're still left with one person.<br \/>\n15:15<br \/>\nThat doesn't diminish what a PMA is.<br \/>\n15:17<br \/>\nThe fact that I named the owner as a PMA is enough, It's an innocent party.<br \/>\n15:23<br \/>\nNobody gets to discover.<br \/>\n15:24<br \/>\nIf it's owned by more than several people there, how many people are in the association? No one gets to discover that.<br \/>\n15:31<br \/>\nYep, Yep.<br \/>\n15:32<br \/>\nYep, So it's just to kinda obfuscate the ownership but, like, operationally, are there any other benefits of having the BPM besides ownership?<br \/>\n15:44<br \/>\nYou want to keep the Property rights Held in the LLC separate from the individual.<br \/>\n15:49<br \/>\nSo if I'm the one doing it, I still want the ownership, because if I'm the owner or the LLC that I'm not I'm not accomplished anything, right. It's still my stuff. It's just title and they'll say so you want by putting. The PMA in there. You're changing what appears to be the beneficial interest. That's why the banks You know, They want to They want to They want to know.<br \/>\n16:06<br \/>\nWhat you're saying is who the owner is because they want to be able to put in their books that you're the owner of everything still, right? So that way they want to help their buddies out.<br \/>\n16:14<br \/>\nIf you owe a debt, that's why they're doing that.<br \/>\n16:18<br \/>\nYou're really doing, yes.<br \/>\n16:19<br \/>\nIn my case, like I just described, I get it, I get it, particularly if you're the single owner of the LLC.<br \/>\n16:27<br \/>\nAnd so you set up a PMA to just how do you diversify The ownership are diminished.<br \/>\n16:35<br \/>\nI'm just gonna say that OK. So the way I do is I just say I give it a name. I make up a name for a PMA. Sometimes I use the PMA designation, sometimes I don't sometimes I call it a society depends on my interaction with the client. But that's that's enough. All right, I'm creating an Innocent party. That's what we're trying to do. And, yeah, I guess it's a way to say obfuscating the ownership, but but who's to say who that is and who has the right to know that, Well, unless I'm filing bankruptcy, or I'm a subject of a criminal investigation. No one gets to know that stuff, and I don't need to prove it to anybody. But for all anybody knows, like, when I first launched these, like hand to hand you your documents, I suggest to you that the PMA is your family. That people can relate to that. But what it was to say that that PMA isn't all the people in your neighborhood. Including yourself. That have a blue car, you know.<br \/>\n17:20<br \/>\nThat sounds silly, but who can argue with that? All right. No, so that's what we're doing.<br \/>\n17:26<br \/>\nIt does.<br \/>\n17:29<br \/>\nDoes, OK, so, I'm gonna noodle on this for awhile, but I had a question particularly pertaining to the, to the Arctic articles of Organization or operating agreement. Do you have, like, a template of the Arc?<br \/>\n17:45<br \/>\nThat abstract that you keep referring to in the videos, that you present to the bank? Yeah, I use a, you guys have them. If you've got an LLC for me, I use almost the same thing in every case, unless your situation calls for some different, so it's, it's a list of documents.<br \/>\n17:59<br \/>\nOK, so the articles, you can pull any corporate charter on the internet, I mean, I shouldn't say on the internet, but if you go to any Secretary of State's website and you download a company's articles, OK, these, these are what form the company and articles of Association are.<br \/>\n18:14<br \/>\nThe, include the information that is announced in the formation of a business and the in the beginning of the operation of a business that affects the public. Now, it just So happens. We register them all the time with the State, but that's not how it's always been done. It's been done in the newspaper, right? You can still do it that way. It's just the banks want you to register with the State. It's not necessary.<br \/>\n18:32<br \/>\nSo the articles announce the relationship of the people behind the company and we understand that one person can be the entire company, OK? That's the articles, down, when you get to the Operating Agreement, this is the inner machinations of how the company's supposed to operate the rights and obligations of the people involved with the company. And that's private.<br \/>\n18:51<br \/>\nThat is totally separate from the articles gay articles are public operating agreements private.<br \/>\n18:57<br \/>\nYeah.<br \/>\n18:58<br \/>\nAll right.<br \/>\n19:00<br \/>\nLike, are you, it kinda like, what are you putting on your abstract, just like, address and registration.<br \/>\n19:08<br \/>\nI put what's necessary for the articles, So yeah, it's gonna have, that's gonna identify the principle address, the mailing address, the registered agent.<br \/>\n19:15<br \/>\nIt's going to identify the name of the company. The data was formed. It's going to be the members.<br \/>\n19:23<br \/>\nI like to put them. I want to put the members. I wanted everyone to know who the members are, who the owners are. It's going to also identify, maybe the signer designers had doesn't have an interest, and so that's pretty much what you're going to be article. That's an all 50 states that's around the world that's going to be like that.<br \/>\n19:38<br \/>\nDo you need a PMA?<br \/>\n19:40<br \/>\nIf you're already using a partner or two partners in the LLC, I'd like to know if if you actually have two different, there's two of you. It's a no actual partnership.<br \/>\n19:53<br \/>\nYou are better off, in my opinion, to individually identify yourselves as owners of the LLC, because you will have charging and protection.<br \/>\n20:02<br \/>\nNow, you, that, those two people, are a private membership association, already, we just didn't call it that.<br \/>\n20:09<br \/>\nBut, it is, as if the two names are on the members, then the courts will understand that there's charging or protection.<br \/>\n20:16<br \/>\nWhat that means is, if there's a, there's an obligation to either one of you have to some unrelated matter, that matter cannot reach into the company and take any money out.<br \/>\n20:27<br \/>\nSo, therefore, you wouldn't OK, So, it's a, it's an association of Type. So, you don't have to have the ... case. You could do it either way. You could take your partnership. I've done that before. I've had one where I was four partners, and I created a PMA, and I gave the partnership a name.<br \/>\n20:45<br \/>\nThey all wanted that.<br \/>\n20:46<br \/>\nSo, I was like, OK, I mean, the Bank is still going to want to know who's all involved with the PMA, and you can tell them what you want, and we get past all that. But the thing is, I mean, you're fine either way. Now, I'm just saying to you for answering your question. I would prefer to people to be identified as the owners and Yeah, we're both gonna give up our ID at the bank. And that's fine with me. I dislike it that way.<br \/>\n21:09<br \/>\nDoes it? Go to the last last question is, like, let it go to somebody else.<br \/>\n21:15<br \/>\nIf you set up the ..., if you set up your LLC, like, I don't know, I understand where you're going through with all this, especially with this point of the deferred tax thing? It's interesting.<br \/>\n21:27<br \/>\nDefer for, yep indefinitely, but my partner may not. She, should I set up another, set him up with another, another LLC all by himself and just let him do his own thing? Sure.<br \/>\n21:40<br \/>\nLet him do, it doesn't your, your tax treatment doesn't affect him and he's, he's not the company, right.<br \/>\n21:46<br \/>\nNor are you the company is a tool And if he wants to isolate the way he treats his income, then he'll just Du Gua however he wants with the ownership. Yeah, you can use his own LLC or something.<br \/>\n21:58<br \/>\nYeah, OK, I think, yeah, OK, Good questions. Naga, what do you got?<br \/>\n22:06<br \/>\nHi, John! Alright. So, yeah, as Chris was talking, I actually have a LLC that you've created, and I'm doing all my fix, and flip business through that.<br \/>\n22:19<br \/>\nOK, houses, Or whatever, are held by that, LLC?<br \/>\n22:25<br \/>\nIt's been great!<br \/>\n22:26<br \/>\nThe only question I have is, we're trying to split the plop, plop, plop.<br \/>\n22:32<br \/>\nAnd the County is asking for clear documentation on who is managing member of the LLC.<br \/>\n22:39<br \/>\nWell, that's in the articles.<br \/>\n22:40<br \/>\nI did send them the limited articles. You said, there's two copies, there's one which is, really, large. You said, never share that with anyone.<br \/>\n22:48<br \/>\nAnd there's one, just like, 5, six pages. Alright, well, that's where we're getting confused, because you just called the Operating Agreement, the articles.<br \/>\n22:56<br \/>\nThat's why I'm making this point.<br \/>\n22:57<br \/>\nIt is not the articles are what's filed with the state. That's, that's what forms the company. And that's public record. And they can go look it up themselves.<br \/>\n23:06<br \/>\nBut if you want to be polite, you can send them a copy, you know. You have a copy, yet, don't get the Operating Agreement. Yeah, there's one document in which it says, operating agreement doesn't have a lot of information just as one document in there.<br \/>\n23:19<br \/>\nIt has articles of association, banking, acts, tracked, uh, other stuff like that started. And the money laundering, certificate of the initial. Yeah. You shall interest.<br \/>\n23:33<br \/>\nJust put that in there to appease the banks that it's actually not necessary. Yeah. They keep asking me that, like who is the managing member? And I keep pointing to that document, saying that this document clearly says that, yeah.<br \/>\n23:44<br \/>\nIn the authorized tiny, and managing member, yeah, it's in the articles.<br \/>\n23:49<br \/>\nYeah. They keep fighting me back, so what?<br \/>\n23:51<br \/>\nI don't understand what the they asked you, You tell you, tell them, it's in the articles as public record, but here you go.<br \/>\n23:58<br \/>\nWhat's the problem? I don't understand.<br \/>\n24:01<br \/>\nThey're saying it's not clearly mentioned, and they go back to this Article four, does this one block, in which I'd say is that sorry?<br \/>\n24:13<br \/>\nNo officers are needed.<br \/>\n24:15<br \/>\nHowever, not ...<br \/>\n24:17<br \/>\nhas been chosen to act as authorized signatory, and has no exclusive rights to Dispose of any assets.<br \/>\n24:25<br \/>\nWithout the express, written consent of 12 members voted selected on an ad hoc basis, OK. What are you reading? What is that?<br \/>\n24:34<br \/>\nIt is in the PM a document, Bank Secrecy Act. There is no PMA document.<br \/>\n24:43<br \/>\nThe last page it says ... coating.<br \/>\n24:45<br \/>\nAny society is a private membership association, OK.<br \/>\n24:50<br \/>\nBut what, who is, who is the member I am the member, OK? Then what does the PM may have to do with it?<br \/>\n24:58<br \/>\nThe PM, IE, you authorize signing further PMA, OK? But they wanted the bank. Wants to know who the member as you said, you're the member, right? Yes, I did. Is that show, is your name show up as a member, the sole member of the LLC?<br \/>\n25:15<br \/>\nIt shows up as an authorized stimulatory, but that's not a member.<br \/>\n25:19<br \/>\nOh, who is the member? What does it say in your articles?<br \/>\n25:27<br \/>\nSorry, I'm pulling up over.<br \/>\n25:29<br \/>\nIt's OK.<br \/>\n25:30<br \/>\nBut you should know this, I'm going to reprimand you a little bit. You should know this, OK?<br \/>\n25:36<br \/>\nJust like, as an adult, you should probably know how to drive a car.<br \/>\n25:39<br \/>\nmm, hm, you're going to manage your money. It's very important, The most important thing, your life, You know, the important thing.<br \/>\n25:46<br \/>\nWe should know how to these basic things.<br \/>\n25:48<br \/>\nSo the articles explain who owns the company.<br \/>\n25:55<br \/>\nSo what do your articles, state as the owner, and the member?<br \/>\n25:59<br \/>\nThe PM is the owner, that's why that's OK. And you use, do you told them that?<br \/>\n26:05<br \/>\nYou told the county that right, and you gave them a copy of the articles? And it's clearly identifies the name of the owner and what was the response?<br \/>\n26:11<br \/>\nThey said, OK, are you the managing member? I said, yes. And they said, chose a document page no year. That's the wrong answer. Oh, OK, you gave them the answer, Then they asked you the question again, and you gave them a different answer.<br \/>\n26:25<br \/>\nYou should have answered them again. Saturday, I already answered your question. Do you have a different question?<br \/>\n26:31<br \/>\nThe owner is the member, OK. And I and I gave that to you in the articles and it's public record. Go.<br \/>\n26:38<br \/>\nLook it up, guys, know, tell them, go look it up. It's public record. I'll I'll be happy to give it to you, but you can you have access to it. That's the whole point of bridging with the state.<br \/>\n26:47<br \/>\nNow, who's asking you this the county appraiser know.<br \/>\n26:51<br \/>\nIt's just the appraiser who is trying, because we'll split the land for us.<br \/>\n26:57<br \/>\nHe's trying to get re parceled Yes, OK. Well, he doesn't understand some things. But just give them the articles and say, Look, it's the articles establishes. Don't ask me the same question over again.<br \/>\n27:07<br \/>\nThat's the answer.<br \/>\n27:08<br \/>\nLook at the articles, OK. That's it.<br \/>\n27:12<br \/>\nThat's all you're doing, is you're trying to make it complicated by give him a different answer, when he asked the same question, because he doesn't know what he's doing.<br \/>\n27:17<br \/>\nOK.<br \/>\n27:20<br \/>\nGiant steps, based F Our U, I just wanted to say, Hi. Hello! Hello. Thanks for joining.<br \/>\n27:27<br \/>\nThat, is that good, Naga, you're good there? Yes?<br \/>\n27:33<br \/>\nI do have a Another Question. So I'm just trying to start. I actually saw that we deal with the Economic Ninja you had OK.<br \/>\n27:42<br \/>\nYeah, so that kind of started me thinking about that.<br \/>\n27:45<br \/>\nSo I have a friend who has shop with trucks and whatnot.<br \/>\n27:49<br \/>\nSo I was thinking, what's the best way to start a business, just create an LLC in the same fashion at both of us? And I love that question.<br \/>\n27:59<br \/>\nWhat's the best way to start a business? Observe and find something that people want to buy, and then figure out how to sell it to them.<br \/>\n28:07<br \/>\nOh, and by the way, you might want to structure it as a company, but later on, the first thing to do is start making money.<br \/>\n28:12<br \/>\nGet your idea working. Talk to the people.<br \/>\n28:14<br \/>\nThat can be your suppliers and your partners and Find your location and their means of doing it Right, the companies last Because if if you get into that, and I've done this before where you're so technical and you're trying to organize everything, So it's just right. You're just gonna, It's gonna cost more money, and it may not happen.<br \/>\n28:32<br \/>\nJust go ahead and start making the car, so the first few you're saying like I just want to follow him in terms of just buying a truck with a beret and sell it and whatnot. Yeah, Right. You could do it. Your name right, OK. The first video. Yeah. Just to do it, and then later on, if it gets big enough, then we can go. Exactly, that's a better way to go, right. I've seen people, I've even had people call me that actually didn't even have any money, They were, nothing zero, starting with zero, which is fine.<br \/>\n28:58<br \/>\nAnd then they were willing to spend hundreds of dollars with me to get started the company, and I said, Look, Get, get your idea going, and I showed him how to do it.<br \/>\n29:06<br \/>\nAnd, and then after that, when you start making a little bit of money, then it makes sense to organize because, yeah, I mean, why would you be in the whole, I mean, yeah, OK. Big companies, they go into debt and stuff like that, But it's not necessary.<br \/>\n29:20<br \/>\nBut yeah. I mean, not to be sarcastic, but I mean that's what you do. What's gonna work, get my plan together, my first idea and how to do it, and wasn't that great, but this idea is going to work.<br \/>\n29:31<br \/>\nYou spend a few months working that out, then it's time to set up a merchant account, and processing, and do a joint venture with somebody for marketing.<br \/>\n29:40<br \/>\nOK, last question, so in future, maybe in the next three years, I want to buy a gas station or something.<br \/>\n29:47<br \/>\nSo, can I take money from my current business bank account, transfer it to this new business bank account?<br \/>\n29:59<br \/>\nSure can, OK, because I'm the definition of my money, isn't it?<br \/>\n30:04<br \/>\nBut it's the business and business. I have not filed any taxes yet Last, OK? If you're the boss, then you get to make that decision, And There's, do, you don't have to structure it a certain way, I didn't have to be alone.<br \/>\n30:16<br \/>\nYou're just moving money around.<br \/>\n30:18<br \/>\nYou can take once some money and fund another business with it, OK, awesome, Yeah, Yeah, that's it. Thank you. So, yeah, just make, I'll make the comment that it sounds like you're trying to compete with the World Economic Forum, global for this, the gas stations, in the future. You see? They've gotta get rid of all that. Right, so I think gasses The future, too, by the way. Not seriously. I think it, I mean, it is. Yeah.<br \/>\n30:44<br \/>\nI don't know if you read the Saudi Arabia form, they came up at the Gas and Oil Commission Report, actually investing like $300 billion. Yes, yes, they're starting to figure this stuff out. They're like, Oh, you know what.<br \/>\n31:00<br \/>\nUranium is probably a good idea. Yeah, that's nice, I'm glad to hear that. Yeah, that's what you do. You got the answers?<br \/>\n31:07<br \/>\nYeah, yeah, appreciate the questions.<br \/>\n31:10<br \/>\nAll right, so and it was a re I think Ray, appreciate your patience there That's OK.<br \/>\n31:15<br \/>\nGot a simple question on inheritance Can it Can the inheritors go straight to the LLC? Even the shows coming to your name OK? That is preferred But the in the legal documents that creates the inheritance. It should name the recipient not you personally if it names you personally, you're stuck with that.<br \/>\n31:34<br \/>\nShows in Hertz.<br \/>\n31:36<br \/>\nIf it's a Living Trust, and it says, you're supposed to come to me.<br \/>\n31:41<br \/>\nWhen did you last for the remainder?<br \/>\n31:43<br \/>\nYou're saying, I can go straight to the LLC, you say to me, it can, but yeah, yeah, you have to name the beneficiary or you have to put the name of the party inside the whatever document you're, if it's a will, I'm just thinking of it as a wheel, and it's being probated, you can't change it.<br \/>\n32:00<br \/>\nIf your name is on the will and you're the recipient you're there.<br \/>\n32:04<br \/>\nBut, yeah, if you want the company to be the air, or the beneficiary, by, all means name, it listing, OK, naming, OK, yep, OK, that's my question. All right. Thank you. OK, thanks, yep. All right, MCC.<br \/>\n32:19<br \/>\nHi.<br \/>\n32:21<br \/>\nI have like very short question.<br \/>\n32:23<br \/>\nSo, I learned that if a person has the IRS more than $52,000, then 1 1 thing that they can do is revoke a person's passport.<br \/>\n32:34<br \/>\nSo you're like, Oh, more than that threshold.<br \/>\n32:37<br \/>\nAnd I, I have an upcoming overseas trip and so I'm wondering if it's gonna, I don't know, prevent me from coming back in or like, hey OK? I've been doing that to punish people, it's wrong, you know. but yes, the answer is yes they can do it and yeah you'll be without a passport but I can suggest this thing to you.<br \/>\n32:59<br \/>\nYou can go to Homeland Security and get a certificate of citizenship, OK? And I believe you can use that in lieu of a passport.<br \/>\n33:09<br \/>\nIt'll cost you a thousand dollars but I believe you'll get the same result and I don't believe that they'll see that coming or have a proper process by which they can suspend that or something.<br \/>\n33:20<br \/>\nBecause when you go to another country, they just want to, they want some sort of third party verification official that of the country of origin.<br \/>\n33:29<br \/>\nAnd that's what these documents serve to do.<br \/>\n33:32<br \/>\nSo I would, I would just look at that as an alternative to the US passport.<br \/>\n33:36<br \/>\nDo you know, how long? So, I started only in the IRS. this amount of money labeled since, last October, so it's kinda fresh.<br \/>\n33:46<br \/>\nDo you know how much time will pass? I don't, I don't know. But you can, you can just go to Homeland Security, and apply for a certificate of citizenship, and you'll find out it'll tell you all kinds of stuff in there. And this Diskette has to make you asked the question like, what the heck is the government have a lien on my right to travel?<br \/>\n34:02<br \/>\nCome on. I don't think they have the right to do that. And no one's really challenged it yet. So another matter. But in the meantime, yeah. I would look at Homeland Security. And I look at the process. The filing fee is $995, as of a few years ago. And it's called the Certificate of what, again? Citizenship, OK.<br \/>\n34:20<br \/>\nMillimeter, in our next question, Would it be weird to or awkward to owe the IRS one year and not pay it?<br \/>\n34:28<br \/>\nBut then, OK, whatever for other, you know, Sometimes it makes sense not to pay the IRS and stay current on the other years and continue filing so that you can expire the debt and just never pay them.<br \/>\n34:41<br \/>\nI mean, it doesn't, I don't know what you mean by, like, awkward, but, like, Oh, we need to explain it last year. But this year, let's say, the amounts are negligible. I paid.<br \/>\n34:52<br \/>\nPay. Each year is a separate one. So so stay current if you can, but if the, if the amount of money that you end up owing and for a particular year or two is so much money that it makes better sense to just not pay the IRS. Or make them scream for it or wait for it and you take that money instead and go put it somewhere.<br \/>\n35:07<br \/>\nAnd you can do that now because you understand how to keep things out of your name, you can do illegally.<br \/>\n35:12<br \/>\nI would do that, OK. You know, a lot of my higher net worth clients are telling me they're gonna do that because they're looking at the real, you know, the return on capital, That's how they think return on capital. Why the heck would I pay? no liability when they're not going to put me in jail.<br \/>\n35:24<br \/>\nOK, and then last question which I think applies for everyone here with an LLC.<br \/>\n35:31<br \/>\nBut I accidentally signed up for credit card through my LLC's bank but I saw my report was looked up.<br \/>\n35:39<br \/>\nSo I think this credit card is actually against my personal credit is Yes so should I will tell you haven't yet anytime. Well, it depends. I mean, it depends on how you want to use it, what you want to do.<br \/>\n35:50<br \/>\nBut an LLC in a bank when you're solicited or offered are given credit and you didn't do anything to go find a creditor to get a credit card.<br \/>\n35:58<br \/>\nFirst of all, a credit card is probably not going to be for business anyways.<br \/>\n36:01<br \/>\nThey always underwrite it with your personal name, but what they're doing is they're naming your company and making you the guarantor for it, but their name, your company.<br \/>\n36:09<br \/>\nSo what that does is alleviate any legal duty that banks have under Title 15 of the Consumer protection laws for debts.<br \/>\n36:17<br \/>\nThese are slick. They're so slick.<br \/>\n36:20<br \/>\nSo What you want to do is, I mean, maybe you don't want to have that card and I don't know if you use it or whatever, but maybe you want to back out of it.<br \/>\n36:27<br \/>\nI don't know how that looks on your credit, but I mean, you should I avoid seeing it, or or is it OK to use it if it's useful?<br \/>\n36:35<br \/>\nJust know what she got there and just know what you have. It's it's a like I just described.<br \/>\n36:42<br \/>\nIt's a personal debt in which you have no consumer protection and it's it's tied your company into that debt.<br \/>\n36:49<br \/>\nSo now your company cannot escape a liability.<br \/>\n36:53<br \/>\nThat's an unsecured loan, OK.<br \/>\n36:56<br \/>\nBut before it could, now this one's attached.<br \/>\n36:59<br \/>\nWhat does there exist? A credit card where it's only attached to the LLC, and yes, I was, I was gonna get to that next, and it's not a credit card. It can be, but it's a line of credit. and you set that up with typically net 30 accounts. And that just means it's a factoring deal. We're not factoring. But when you buy products, you you but you pay for them on credit terms and you have 30 days in which to pay.<br \/>\n37:24<br \/>\nAnd you want to have 3 or 4, not in more or less, but 3 or 4, net 30 accounts, you can set those up.<br \/>\n37:32<br \/>\nVery easily in about a month, I recommend the first net 30 account provider is going to be a company like uline.<br \/>\n37:40<br \/>\nYou live dot com, and it has an incredible catalog. I mean, pretty much anybody can buy a product from uline and use it. So when I have clients setup credit, I've tried to get them on a line of credit for products or through vendors that they're already using. Or that they're going to byproducts, and they're always get there to kind of have a use for the product, not just by reams of paper just to see how to set up credit.<br \/>\n38:04<br \/>\nRight? Are you going to buy some products and give it to your friend or something like that. OK, so, you can use, you lined, set up a net 30 account.<br \/>\n38:11<br \/>\nSo, the way you do it, though, is, you first have to set up your business profile through, it's called personal, let me think for a second.<br \/>\n38:21<br \/>\nAfter Gushed, it's been awhile, It's a 411 directory for business, OK. So, you list, it's called list yourself dot net, so list yourself dot net. You go there and register your business name and an address. So before you do that, I'm just, I'm not saying go off and do that. I would like to talk to you first, because there's a way to do it.<br \/>\n38:40<br \/>\nSo, usually, you list your business presence, and then you set up your Net 30 accounts, and then what happens in the meantime is, this way, I like to do it.<br \/>\n38:48<br \/>\nI do that first and Dun and Bradstreet contacts, my client, and then Dun and Bradstreet will then set up a credit file for the client without Hemet even asking, It takes a couple of months, and the way the Net thirty's work is, you get your Net 30 is running. And, so you're taking product, either. You're having it shipped, or you're going to a retail location, and you're picking it up, and you're taking it home, whatever you're doing, and then you're gonna get a bill.<br \/>\n39:08<br \/>\nNow, what I recommend is you, within a few days, as you pay off the the purchase, OK, so you have the money in hand, but you're gonna go bite on net 30 terms, and you're not going to be the guarantor.<br \/>\n39:20<br \/>\nSo make sure if you sign anything or a credit agreement that you're not signing as the guarantor anywhere on there, and when you paid off like that, you don't keep on doing that, but you just do the first few times like the first three periods.<br \/>\n39:32<br \/>\nAnd that will anchor in your credit your credit file. Then you'll get a score from Dun and Bradstreet about three months later and about 4 or 5, 6 months out.<br \/>\n39:41<br \/>\nYou're going to start becoming eligible for a line of credit. Now some companies on the Internet who do this service they actually do the legwork. They're telling people that you.<br \/>\n39:51<br \/>\nCan get qualified for up to $60,000 an unsecured credit.<br \/>\n39:57<br \/>\nSo a line of credit is not a credit card, it could be but you're able to just buy things on the credit.<br \/>\n40:03<br \/>\nAnd so then the one, the next thing I caution clients once we get that set up is, make sure that if you're going to spend credit money and it's a new operation, that it's going to be for something that's going to produce revenue. Like maybe advertising.<br \/>\n40:15<br \/>\nNo something like that, not stocking up and paying your employees.<br \/>\n40:18<br \/>\nYou do that last, you try to generate revenue first. So anyways, long story, But, yeah, you have to go out of your way to get real business credit.<br \/>\n40:28<br \/>\nAnd it's not, it does not look like consumer, OK?<br \/>\n40:31<br \/>\nIt has a different score and everything like that has, of course, different actuarial is all this stuff OK, sorry, I just had one question about that.<br \/>\n40:40<br \/>\nMy first question about the IRS like revoking a person's passport.<br \/>\n40:45<br \/>\nYeah, just do it like out of the blue. Like I would at least get like a notice you'll get a notice. Like hey, like we're about to go. Yeah, and what would be a reason for leave the country I should have asked. Is it for business?<br \/>\n40:57<br \/>\nVacation, could it be for business?<br \/>\n41:01<br \/>\nYeah, yeah, sure, yes.<br \/>\n41:03<br \/>\nCould you justify some level of income from from it? No, OK.<br \/>\n41:09<br \/>\nThe reason why I ask is because now the, I have, for years have been able to re-instate pupils driver's license, that the IRS cause they're likely to be suspended or the state or whatever. Because they didn't pay the tax or couldn't pay the tax or whatever. And I just go have a hearing with the DMV and say, look, I can't make getting more money because you're spending my license, Ido. And so we get the license re-instated? Well, with a passport, you gotta get a little bit different because they're going to say, Oh, yeah, really? How are you making money out of the country here? If you can answer that question with a reasonable answer, they'll re-instate your passport. Because how are they gonna get paid if you can't do the thing, right?<br \/>\n41:40<br \/>\nYeah! I've never tried that though, but I know that that's available. But, OK. Yeah, try the Homeland Security. Well, and so, as long as I get a notice, then I'll know I should probably avoid any trips, but OK, thank you very much. Yeah. All right.<br \/>\n41:57<br \/>\nOK, I'm sorry if I don't know the or, I don't know the odor here, I'm gonna go from the first listed here, which is i-phone two.<br \/>\n42:04<br \/>\nHello?<br \/>\n42:06<br \/>\nHi, can you hear me? Yes.<br \/>\n42:08<br \/>\nSo I was wondering, when you register companies, why you put them in all caps.<br \/>\n42:14<br \/>\nIt doesn't matter, I just think it looks neater that way.<br \/>\n42:17<br \/>\nThey are persons, they're artificial persons.<br \/>\n42:21<br \/>\nThe name is in all caps. I mean, this is how we do it.<br \/>\n42:25<br \/>\nGot it, OK, you know, you know, everything is pretty much under the Roman, civil law, anyways, that's where it all comes from.<br \/>\n42:31<br \/>\nYeah. I figure.<br \/>\n42:34<br \/>\nOK, so I've got another question: if the IRS can disregard the entity of the LLC, can they disregard the entity of the PNA as well?<br \/>\n42:47<br \/>\nThat should, They could do any of those things. Um, hmm.<br \/>\n42:52<br \/>\nI have not seen them and did that too.<br \/>\n42:54<br \/>\nAn LLC, however, I have seen them try to get the property owned by the LLC by claiming that the the IRS now claiming the taxpayer did something with the LLC. It's still not challenging the LLC by the way.<br \/>\n43:08<br \/>\nBut saying that the LLC is being used to obfuscate ownership or something like that. Now, I've done thousands of these in all kinds of, you know, tens of thousands of cases. I have not seen that, except I've seen lawsuits and, you know, lawsuits typically are going to be. the.<br \/>\n43:25<br \/>\nIRS is going to sue somebody civilly and they're always going to get a judgement.<br \/>\n43:30<br \/>\nAnd that's it.<br \/>\n43:32<br \/>\nI mean, I don't know if I've been involved in the case where they foreclosed on something, but the LLC is is is not going to be. It's not likely. The LLC will be challenged. It is likely that a PMA.<br \/>\n43:45<br \/>\nThat's why I don't like to use the PMA out in the Open, and the PMA if they want to challenge the PMA on the no ownership of the LLC. I haven't seen that yet, but they could. That's easy to fix. That's easy to protect. That's easy to plan. That's that's why I like it, it's so personal. Because those are all private documents.<br \/>\n44:02<br \/>\nUm, I would, I would.<br \/>\n44:07<br \/>\nAvoid using these strategies just because of that theory you have, that that's possible.<br \/>\n44:13<br \/>\nI mean, just like, OK, cool. You could get struck by lightning, too.<br \/>\n44:16<br \/>\nSo maybe you shouldn't go to the beach, I don't know.<br \/>\n44:20<br \/>\nRight? So with New Mexico, they don't allow you to put in a member that's a PMA when you register. So you would do that with the EIN, or the W nine. I don't know about that. There might be one state that was doing this in New Mexico.<br \/>\n44:34<br \/>\nI don't think I don't know if it was New Mexico, but it's another dang business.<br \/>\n44:38<br \/>\nI don't know what the problem is, but, um, What state is that? you said? New Mexico?<br \/>\n44:44<br \/>\nYeah.<br \/>\n44:46<br \/>\nOnline, it's you have to have a first name and last name.<br \/>\n44:50<br \/>\nWell, they know they can't dictate the ownership of your company. And that's, that's another legal issue that has to be taken up And I'm not going to take on that battle, but it's not legal to do that, just so you know.<br \/>\n44:59<br \/>\nBut if that, if you're not going to be able to register in that state, then we've got 49 other states, right?<br \/>\n45:05<br \/>\nI mean, until all the, all the States decide that they're going to ban PLAs, then what do you do?<br \/>\n45:09<br \/>\nSo, in that case, you would just have several people, as the owner. In fact, I even thought about setting up a service like that way back. Where that's all we do. Is where you're nominee owners.<br \/>\n45:23<br \/>\nWe give up all their IDs and all that every time a client opens up.<br \/>\n45:27<br \/>\nWhat are they going to do about that, you know? So there's all kinds of ways to get around those.<br \/>\n45:31<br \/>\nNo creatures.<br \/>\n45:34<br \/>\nMean, if you need me specifically, I give me a specific one. I can address that.<br \/>\n45:39<br \/>\nLast question, if I receive money from the LLC, where do I say it comes from on? You don't have to. You don't have to just report it as other income.<br \/>\n45:49<br \/>\nNo, I'm sorry to say where it came from, because for all anyone knows, it could be from a crime, and you're not required to testify get yourself. You're already testifying against yourself.<br \/>\n45:57<br \/>\nYou shouldn't, you're not required to testify as to the source.<br \/>\n46:00<br \/>\nAnd, yeah, if you have a CPA, he's going to tell you that you are, but you're not.<br \/>\n46:05<br \/>\nAll right, Cool.<br \/>\n46:09<br \/>\nAll right. And how about copper?<br \/>\n46:12<br \/>\nJohn, thanks so much for everything, man. Your your answers to all these questions are just out of control. I appreciate that, OK? Yeah, man, I'm like writing notes over here for questions that I had in mind.<br \/>\n46:26<br \/>\nI just had a few questions for you, one, I'm looking into buy a piece of real estate.<br \/>\n46:34<br \/>\nAnd It's a it's basically like a piece of land and it's been owned by this woman, this older woman for, for many, many years.<br \/>\n46:47<br \/>\nAnd I'm just curious after learning about all of this, about the about the PMA and the LLC and all these different ways to kind of go in and out of the columns over here: is: Is it possible to, again, this could be just a completely amateur question and it probably is.<br \/>\n47:05<br \/>\nBut let's say that that piece of real estate was in a trust, Right?<br \/>\n47:13<br \/>\nAnd.<br \/>\n47:17<br \/>\nIn order to maybe eliminate, like, an extreme payment on capital gains for the current owner on this transaction, would there be a way to put, to change, I guess, Like, the beneficiary of the trust from that person To me, while moving, some form of payment, whether it's, you know, Bitcoin, or, Yeah, another piece of, or, or, or, maybe? I have no idea of, maybe, transferring other paperwork.<br \/>\n47:56<br \/>\nThat's, yeah, that's a more sophisticated way of conveying realistic interest in real estate, without incurring any tax at all mm. And so this is done by, you know, super wealthy people. And so what they do is they might settle the transaction in another country and they might settle in precious metals. But they're doing the real estate deal over here.<br \/>\n48:15<br \/>\nAnd so what this looks like is a corporation owns and control some real estate in something. Some people own the corporation, and then they want to get out, right? So then some other people come along, and they want to keep the corporate title on the real estate. And so they buy out the interests of the other people. They buy out there, They buy out their ownership, they buy the stock and the company that owns the real estate, right?<br \/>\n48:38<br \/>\nThat that's a way to avoid the capital gains, too, OK, all right, so there. so there is something there. So then I do, you could do it that way.<br \/>\n48:45<br \/>\nI mean, you could always use the pass through, have the seller, convey it to pass through to have it sold. I don't like to tell people that stuff though because now you're now, you're on the hook for like them doing it right now. I would I would add slowly get in touch with you to do absolutely anything like this. I just wanted to ask, but The largest transactions you, because you're going to switch the beneficial interest and then right guys change money somehow so that the difficulty there isn't getting financing because it doesn't you know, you're not buying anything. So what do you? What are you getting financing to buy private stock? mm, OK? That's hard to find right?<br \/>\n49:22<br \/>\nYeah, right OK. All right. Great. Great.<br \/>\n49:30<br \/>\nYeah, I guess I and just to kind of follow up on the back end of that deal, basically This.<br \/>\n49:35<br \/>\nThis deal would essentially be away for the, for the seller to essentially hold a note on the she could do that too. Well, that's not a way for her, hold a note. She could. That's two separate, separate things.<br \/>\n49:54<br \/>\nThat the way you sell it is different than lending money on the property, so yeah, if she wants, that's what I always do. I always ask the seller to finance it as, you know.<br \/>\n50:05<br \/>\nStart there.<br \/>\n50:06<br \/>\nSure, Is that how you did your, your land. You'll know I put cash I'm gonna get the money out of it later that there's different ways.<br \/>\n50:13<br \/>\nSo in that situation, It's going to be probably 18 months before I start getting the money out of it, and I'm OK with that.<br \/>\n50:22<br \/>\nNext, John, As far as, um, as far as I got into commodity trading, and I'm curious to know, what the, what the status is in terms of, I mean, because the capital gains on it, it's just ridiculous.<br \/>\n50:37<br \/>\nAnd there's, there's, I mean, there's really no reason for me to have access to these gains.<br \/>\n50:45<br \/>\nIs there a way to have the LLC that you set up for us?<br \/>\n50:54<br \/>\nHas as the, as being the holder of the account, does it.<br \/>\n50:58<br \/>\nThat's exactly why I started to call the way I did. That's exactly what it is, for, you know what? I missed the first freaking. 10 minutes. Well, that was it. Yeah, OK, that's exactly what I was saying, is that, that is that the LLC is a tool for that purpose. It is designed to be the account holder for these things that are paying dividends and creating tax liabilities for you.<br \/>\n51:18<br \/>\nYou can't avoid the tax liability, but the LLC can, OK, alright, OK, yeah, OK, cool, and an LLC get loans on its assets once it has, like, Sure, you should look for lenders, yeah, that's the best way to go, OK.<br \/>\n51:35<br \/>\nI mean, if you have a nice crypto portfolio, for example, never sell, right, right.<br \/>\n51:40<br \/>\nLock it up, and get loans on it, and use your LLC.<br \/>\n51:44<br \/>\nYeah, it's collateral, so you can use your LLC easily, OK? All right, cool, will, fly over here. I got, I got, I got one more over here.<br \/>\n51:54<br \/>\nOK, so, dude, I heard you talk about this. The way you put this property into an HLA when one of your clients was dealing with some sort of mess with the IRS. And I was just like kind of mind blown by it.<br \/>\n52:09<br \/>\nReally, really cool. Now, in terms of And is that does that?<br \/>\n52:14<br \/>\nI understand that that's some sort of like, that's some sort of jurisdiction, right? Because the HLAA has first dibs essentially, on some sort of it has lasted. Well, it doesn't.<br \/>\n52:24<br \/>\nI'm actually using that for my land, because I'm recording in a way, because there's no way to weigh in this two parcels, and, and I'm not going to pay the property tax on it. And so if any dispute comes out of that, the State says you gotta pay.<br \/>\n52:38<br \/>\nIt won't matter what the State does if the State wants to foreclose on it.<br \/>\n52:42<br \/>\nFirst of all, the no one will probably bidet auction, because if you go look at it, that's not ready yet.<br \/>\n52:47<br \/>\nBut if you were to go look and Trulia and whatnot and you look at the specs on the property, it'll show that there's HLAA Dues, dues and it'll it'll show the dues of about $70,000 a month.<br \/>\n53:01<br \/>\nAnd I'm forested land, right? Who's gonna buy that because that, Lean never gets exhausted and you cannot challenge it and the state wants to do whatever it wants to do. I can always take the title back or just leave it. It doesn't matter because I'm going to be making money from these idiots.<br \/>\n53:20<br \/>\nIt's the title, wow. So, that could be quite a powerful tool, OK. Is that is that like, is that similar to like pudding? Is that similar to like changing the jurisdiction of the of the land like the HLA. I'm actually using the jurisdiction hang on, let me find out.<br \/>\n53:40<br \/>\nI'm actually using the jurisdiction to to have some sort of power, some leverage inside the jurisdiction. I'm not even I'm not even trying to act outside the jurisdiction. I would say yeah, you got me, I'm a taxpayer.<br \/>\n53:52<br \/>\nBut you still can't do this because of that, because your own system, Chinese have any thoughts on, on, on the different jurisdictions, on, like, putting a piece of property into, you know, onto like the land jurisdiction or something like that. That, you know, my thinking is, I can, this is my theory, I don't know if it's right.<br \/>\n54:10<br \/>\nI just, I just wonder how the state got the authority, or does it have the exclusive authority to tax?<br \/>\n54:19<br \/>\nAnd so, if it does, is it because of the way it's being described? My thinking is, it's because of the way it's being described.<br \/>\n54:27<br \/>\nThe legal description, so if I were to change the legal description is something else, but I could still locate the property, Did I'm thinking?<br \/>\n54:34<br \/>\nExcuse me.<br \/>\n54:35<br \/>\nIt's, um, it's like exporting the property, right.<br \/>\n54:40<br \/>\nBecause it's described in a foreign way so therefore it's a foreign jurisdiction.<br \/>\n54:44<br \/>\nYou can't you move the status of land but you can describe it in a different way and that it's no longer it ... in that jurisdiction is my theory.<br \/>\n54:55<br \/>\nSo how would I how would I do that?<br \/>\n54:57<br \/>\nI would think I would do that with the lat and long or GPS which is not being used right now.<br \/>\n55:03<br \/>\nI see. I see what you're saying. If it makes sense from what? I'm gathering from that, from that jurisdiction, I'm sorry.<br \/>\n55:14<br \/>\nSorry. I'm having a good time. What I'm gathering from the from the jurisdiction research is that essentially all the properties that we're on and an i-phone to ask the question about why do you make the LLC's all caps?<br \/>\n55:27<br \/>\nSo all of these properties with the all caps, you know what the with that all caps representation is essentially like our agreement into like no commercial jurisdiction.<br \/>\n55:40<br \/>\nAnd the all caps are nothing. It's a no consequence. I don't know. This theory came up way back when I started looking at, this was from when I started in the nineties. It had been around since the seventies.<br \/>\n55:50<br \/>\nI think that, those types of concepts were introduced by whoever's perpetrating False information just to confuse everybody, not at the CIA and that doesn't do anything, what creates liability as residents. Land is resident. Michael, what's up, Michael?<br \/>\n56:09<br \/>\nYou want some attention? Sorry.<br \/>\n56:12<br \/>\nSo the Site is the property, it creates residency, OK, Which creates liability for that jurisdiction? That's what I'm saying. How else to get out of that liability? Well, you export it just like you would export your vehicle if you can export your vehicle to Canada.<br \/>\n56:27<br \/>\nYou go to the DMV and you actually fill out export documents, and it will take it out of the jurisdiction.<br \/>\n56:32<br \/>\nNow, if you export your vehicle to Canada on paper, and you continue driving your vehicle in the state you live in with a Canadian plate, you're not subject to the tax mm. And the question is, you have to be subject to the tax somewhere, right? What was in the foreign jurisdiction? No problem, But that demonstrates how that works.<br \/>\n56:50<br \/>\nSo my theory is, if I do a quick claim deed on the property description, from this property description to the other, that I think, would do it. Also, the owner should not be considered a resident as well. I think that also would contribute to it.<br \/>\n57:06<br \/>\nNow, whether or not that holds up in the court, I'm not sure. Got it. Got it, OK. I think I'm gonna send you some info, if you don't mind saying, yes, please. I need to learn more. Yeah.<br \/>\n57:15<br \/>\nCool. Right. Right now, my quick fixes, do an HLAA sometimes. We can. Yeah, yeah, I mean, that sounds. It's a no-brainer right there. I mean, yeah, that's awesome.<br \/>\n57:21<br \/>\nYes, Alright, well hey, thanks so much! I appreciate I missed in the past few weeks and I'm happy to catch an outside questions. Pushing, OK, Alright. Alright, Christian Marketing.<br \/>\n57:38<br \/>\nYou there? OK, can you hear me?<br \/>\n57:43<br \/>\nYes. OK.<br \/>\n57:46<br \/>\nSo, a quick question about the W nine that I had.<br \/>\n57:50<br \/>\nYes, I had formed an LLC. I'm.<br \/>\n57:54<br \/>\nSorry about that On second.<br \/>\n58:01<br \/>\nOK, I should take care of that. Go right here? I'm sorry. I exported them.<br \/>\n58:08<br \/>\nYeah.<br \/>\n58:11<br \/>\nSo I had formed an LLC mid year, and we changed banks at the same time, and there's a company that we've been working for and getting paid throughout the year.<br \/>\n58:23<br \/>\nAnd in the beginning of the year, we were just putting the checks on our personal.<br \/>\n58:26<br \/>\nAnd then we form the LLC, but we thought we thought the bank would accept the check into the business account in the holder's name but this bank what our last bank did.<br \/>\n58:39<br \/>\nYeah they shouldn't actually.<br \/>\n58:42<br \/>\nThat's why sometimes you can use a trust. But, if you want to put a personal check into an LLC account and you didn't change it at the source, which, ideally, you changed at the source, because you want the reporting to go to the company.<br \/>\n58:54<br \/>\nBut, if you just want to clear some funds, you can use your LLC through a DBA, and you just ask your bank how to set that up.<br \/>\n59:01<br \/>\nOK, And so the DB with, it would be like, XYZ Company, LLC, DBA, John Smith.<br \/>\n59:08<br \/>\nGotcha, OK.<br \/>\n59:09<br \/>\nYeah, and then, so, excuse me.<br \/>\n59:13<br \/>\nThe payor is asking me for a W nine. Yup.<br \/>\n59:20<br \/>\nOf course, I don't want to give them my social, I don't want to give them me, Well, what's your contract under right now? What kind of contract you have a written contract with them. Oh, there's nothing. It's just so much easier, OK, awesome. So you give me your LLC name.<br \/>\n59:33<br \/>\nIt's E I N and A completed W nine, OK.<br \/>\n59:37<br \/>\nAnd in the Hill issue, his account will issue a 1099 probably to your company with its EIN, OK, and it doesn't matter that the check originally went into a personal account.<br \/>\n59:49<br \/>\nUm, he may, well, on my own, he, he may, he may report it in your personal name, but you haven't given them an SSN. So I don't know, I don't know, maybe he'll not even look at that and say well, OK, now I have a taxpayer's information, I'm just going to go ahead report everything under that.<br \/>\n1:00:07<br \/>\nIs there a problem? Not my problem, their problem. Yeah, so, so, just, I think you're the fact is you haven't given your SSN, so you're in a good position here. So, you just give them the company name, then let him figure out his stuff because why would he want to create two thousand ninety nine's, his account is going to say now I'll just do 1 to 99.<br \/>\n1:00:24<br \/>\nRight. Yeah. Yeah. So, give them the only information that He's going to be using. OK, so Because before the LLC we had been doing a substitute W nine with just all zeros. Yeah, there's no need for that like a W nine is to certify the correctness of an EIN. That's it and it avoids backup withholding. You want to have a W nine.<br \/>\n1:00:43<br \/>\nIt doesn't make you a taxpayer or anything you want. I'm glad they have that.<br \/>\n1:00:48<br \/>\nSure.<br \/>\n1:00:49<br \/>\nCompany hasn't filed, so I don't see, like, liability there. Exactly.<br \/>\n1:00:54<br \/>\nYep, Now the, and then the second part of my question is the personal checking account, on your syllabus, you had that listed out as one of the bullet points. Should we not use personal accounts?<br \/>\n1:01:07<br \/>\nI think you should have a personal account, just because it could be convenient. I mean, who knows? Maybe someone, your brother gives you a check for $200 on your birthday.<br \/>\n1:01:16<br \/>\nYeah. Yeah. I mean, just, everybody has a personal account, but I just wouldn't rely heavily on it. I mean, it whether or not you have financial risk, I don't know.<br \/>\n1:01:25<br \/>\nBut just, I think everyone should have the practice of not relying on owning money.<br \/>\n1:01:32<br \/>\nSure, they shouldn't lose money.<br \/>\n1:01:35<br \/>\nKeep your personal account. I'm going Why not?<br \/>\n1:01:37<br \/>\nOK, All right, OK, Excellent. Thank you so much. All right.<br \/>\n1:01:42<br \/>\nAppreciate that. Hey, Elaine. Oh, this IRS stuff is making me crazy. Remember, I told you that, I call these people at that moldering told me that my cases closed, and this person told me I didn't have to have the Oh, I see the ISD in right away. Well, today, I got a notice of Federal Tax lien dated 120 23 for 3 of the years that we the oh, I see 4 16, 18, and 20. And I'm, I'm thinking it must relate to those letters that I get with a change, something like penalties or standard deduction, and I have until February 27th to request a CDP hearing. Yeah, we should do that.<br \/>\n1:02:26<br \/>\nDon't right away mm, hmm.<br \/>\n1:02:28<br \/>\nOh, it's better than it's then having a notice of levy because levy means they're gonna look and stuff. Yeah. I like Liens all day long because mostly, they're not gonna do anything except just kinda interfere but they're not going to take stuff.<br \/>\n1:02:42<br \/>\nOK, but that gives us a way in Yeah, OK. And I'm thinking you know, that somebody maybe gave me the wrong information there, that maybe I did have to have that new thing, and by the 19th.<br \/>\n1:02:52<br \/>\nAgain, anyway.<br \/>\n1:02:56<br \/>\nBut the other thing is like, why would they be giving me a lien for three years that were included in the original? Oh I see.<br \/>\n1:03:05<br \/>\nAre you trying to understand the inner machinations how the IRS operates?<br \/>\n1:03:09<br \/>\nNo, please don't.<br \/>\n1:03:13<br \/>\nJust like here's, here's my, here's how I operate. OK, I know a lot of stuff about IRS, but here's how I operate, is I look at the IRS as an accounting firm that has police powers and theirs.<br \/>\n1:03:24<br \/>\nAs far as everyone else is concerned about the things with the IRS, the IRS happens in three periods of time. There's the assessment period, there's the dispute resolution period, tax court, and then there's the collection period during the collection period, OK, and because they've been so abusive over the years, they created this higher two level bureaucracy that I love. I could just play like a piano, And that's where you are, right.<br \/>\n1:03:46<br \/>\nNow, we're going to shut down their notice of lien, right. And so you've been given another chance to restart that all over again. And so, we'll do that, and we'll bring in the advocate again, and it'll just make it a big quagmire.<br \/>\n1:03:58<br \/>\nSo, but don't try to figure out, like, timing and all that, I mean, it's probably in the Internal Revenue Manual, you'll be crazy. I mean, they have their sections that I can just show you, guys, to be, like, what?<br \/>\n1:04:10<br \/>\nYeah, Section three is for examinations, and like, here's if you go down in the middle, here's how it's numbered, It'll be like Section three point 1.3, zero point seven zero point 7 seven 3.5 point 3 zero point one zero point two zero point one one, I'm not, I'm not joking.<br \/>\n1:04:27<br \/>\nAnd then it has all these little sub sections, Right? Right. Don't, great, isn't it?<br \/>\n1:04:33<br \/>\nYes. I've already lost it. All right. Well, one quick question, Should I then go ahead and do the new, oh, I see as, well as the CDP here, I'm not ready, and let's get our CDP Alright, alright, hi, I'm with you for Monday, at three ish.<br \/>\n1:04:52<br \/>\nOK, yep, all right, OK, thank you so much. Sure thing.<br \/>\n1:04:58<br \/>\nAll right, and Scott or yeah, thanks for your patience. That's going. Yep.<br \/>\n1:05:07<br \/>\nYeah, so you help me, you know, form an LLC in Mexico and you helped me with the registered registered agent address when I chose to use a good friend and Lord, OK, principle, Yeah, OK, end.<br \/>\n1:05:25<br \/>\none of the reasons is I do reside here in New York and trying to work with CMB, and I just wanted to make sure, you know, New York wasn't anywhere.<br \/>\n1:05:38<br \/>\nSo, good idea.<br \/>\n1:05:40<br \/>\nHe's, he's since moved my good friend there, so technically my principle address needs to change.<br \/>\n1:05:48<br \/>\nI was looking into some other avenues such as, like, I postal one, Pulse scan mail.<br \/>\n1:05:58<br \/>\nSarah?<br \/>\n1:05:59<br \/>\nYeah, either virtual or physical address in order, But they brought me to 15 83.<br \/>\n1:06:10<br \/>\nOh, yes, fine. I can help you with that.<br \/>\n1:06:12<br \/>\nThere anything I should or shouldn't do? Yeah, let me, I'll explain that. But keep in mind the purpose of the addressing the articles, the principle address two, is to just get your company registered. No one's gonna look up your company and send mail there unless he's trying to sell you something.<br \/>\n1:06:27<br \/>\nAlright, so anybody that you care about that you want to receive mail from, you're going to tell them with the addresses. So, the important address to give everyone notice of is going to be probably on a website or a business card, or how you tell people what the addresses.<br \/>\n1:06:39<br \/>\nAnd so, if you, if you're not getting mail at your friend's place, that's probably kind of a bonus, because the only male you would be getting would be solicitations, OK.<br \/>\n1:06:48<br \/>\nBut for some reason, if you want, if you want to update or change that address, yeah.<br \/>\n1:06:51<br \/>\nThere's mailbox services, you can use those, and you can change it on the articles. It's not necessary, though.<br \/>\n1:06:58<br \/>\nJust just concerned with CNVs, mostly with doing exchanging overseas.<br \/>\n1:07:06<br \/>\nIs there any concern there?<br \/>\n1:07:07<br \/>\nBecause you had mentioned that, know, you're supposed to have permission when using someone's address, right. Eventually, something else will move in there.<br \/>\n1:07:18<br \/>\nYou know, that, I don't know for that address.<br \/>\n1:07:22<br \/>\nYeah, I mean, that's true, But, but, You know, you'll give killer and brown your, your articles and that address will be on there, and I don't know that anyone's ever needed. That's not something that Killen brown needs.<br \/>\n1:07:33<br \/>\nI don't know if I don't know that that would be a problem but just just the same Amin search Sure, you can you can amend it and you can use a mailbox service, but it's probably not necessary, OK?<br \/>\n1:07:46<br \/>\nMaybe we're thinking a little bit That's OK.<br \/>\n1:07:50<br \/>\nYeah, I mean, I wouldn't I don't, I don't see in all the, all the situations I've seen with cable and brown and I've been sending people there for, like, oh my gosh, since 2018 or something 2019.<br \/>\n1:08:01<br \/>\nYeah, I never heard that they, they actually asked him to renew or update.<br \/>\n1:08:09<br \/>\nThey do updates every couple of years on LinkedIn. Your information? Oh, yeah, OK. Right?<br \/>\n1:08:15<br \/>\nYou can monitor and activate.<br \/>\n1:08:19<br \/>\nThey actually do that every couple. You see, OK? So this would help answer the question.<br \/>\n1:08:23<br \/>\nWait until you run into difficulty, and they tell you what to do about it. Right? You just say, Oh, yeah, I can offended. I just didn't get around to it right now.<br \/>\n1:08:34<br \/>\nWhy? You know, I just try to do the least things, you know? Yeah.<br \/>\n1:08:40<br \/>\nDidn't get the information they're getting from us anyways.<br \/>\n1:08:42<br \/>\nOK, Thank you.<br \/>\n1:08:45<br \/>\nAll right, take care of it. I'm sorry. I'm not paying attention to your chat thing, so there's no ID pass code. Sorry about the link there.<br \/>\n1:08:57<br \/>\nKevin.<br \/>\n1:08:58<br \/>\nOK, I'm so I'm going to skim through these real quick on the chat.<br \/>\n1:09:05<br \/>\nOK, thanks for comments there, OK?<br \/>\n1:09:12<br \/>\nOK, yeah, I'll look at that other Cynthia, your comments here.<br \/>\n1:09:16<br \/>\nThat's going to take me a little bit of thinking time there and then uh, yeah, you'll get a notice on your passport being revoked.<br \/>\n1:09:24<br \/>\nYeah, and I am I the the Invite link to this call is always on ace of coins You guys should probably know that since you already here, So that's all. That's the only place I put it.<br \/>\n1:09:37<br \/>\nIt's static. It's the same every week.<br \/>\n1:09:41<br \/>\nI think it's also pinned at the top a vase of coins on telegram OK, All right, so I hope that covers everybody there. I am sorry, I missed you guys. Alright, and the sea was an i-phone to next.<br \/>\n1:09:54<br \/>\nYes, OK, so I am on the New Mexico business startup page. And for adding a member information, you can select Business, or you can select individual individually. You have the first name and last name.<br \/>\n1:10:09<br \/>\nSo it would be under a business, yes, OK, Yeah. And what I've noticed is a PMA does not need to have a designation that says ... next to it, you can you can call it like the John Singleton Society, right?<br \/>\n1:10:23<br \/>\nOr the club?<br \/>\n1:10:25<br \/>\nThe YMCA.<br \/>\n1:10:27<br \/>\nNo, it was private.<br \/>\n1:10:28<br \/>\nI don't think it does anymore, but, know, it can be a private association just, you know, I like using the word of society or club or something afterwards. So, that way if you don't use PMA doesn't get the attention that the negative attention. The PMS have been getting lately.<br \/>\n1:10:42<br \/>\nThat helps you OK, so just society and that's good enough.<br \/>\n1:10:47<br \/>\nMmm hmm.<br \/>\n1:10:47<br \/>\nThank you. All right.<br \/>\n1:10:49<br \/>\nAlright, and copper John, I'm back.<br \/>\n1:10:53<br \/>\nSo, You. uh, let's just, let's just say for, uh.<br \/>\n1:10:58<br \/>\nJust to get a basic understanding, over here, let's say you're opening up a market or a restaurant, or a cafe or something like that. How are you using this, this LLC set up, to kind of take advantage of, because I, because I know we, you know, we can't show profits unless we want to, you know, pay taxes, right? So so that they can make money.<br \/>\n1:11:17<br \/>\nNormally I'd set up, let's say it's a restaurant, I would set up an S corp that's just makes total sense. Because I'm gonna have employees, I'm gonna workman's comp. It's gonna have sales tax. I can avoid all that stuff, right? If I'm running a restaurant.<br \/>\n1:11:29<br \/>\nSo if I want to still have a way to handle cash that's coming in and park it somewhere that doesn't yet have a tax liability tax deferred.<br \/>\n1:11:41<br \/>\nI put in an LLC in-between my S corp and my customer and so my LLC has the merchant account.<br \/>\n1:11:49<br \/>\nMy LLC manages the tail at the bank account and does all the processing, OK. Now, my S corp doesn't even your bank account in that case.<br \/>\n1:11:58<br \/>\nMy S corp would simply report the amount of money it needs to operate, and then claim taxes on that.<br \/>\n1:12:04<br \/>\nThe rest of it stays in the LLC.<br \/>\n1:12:10<br \/>\nThat's nothing I don't mentioned too much, but the corporation doesn't need its own bank account if it's using a payment processor like an LLC as a pass through. It just has to claim that money as its own.<br \/>\n1:12:20<br \/>\nNow your accountant may not like that, but he'll be OK with it.<br \/>\n1:12:24<br \/>\nOK, Yeah, OK, Yeah, I've done that right right in the face of the IRS to get the client out of fire. He was on fire.<br \/>\n1:12:32<br \/>\nI solved it by doing that, and they never even question, they're like, yeah, OK, amazing.<br \/>\n1:12:38<br \/>\nAmazing, thanks, man. Alright, sure thing. Hey, Cynthia.<br \/>\n1:12:47<br \/>\nAnd there, Yeah, hey.<br \/>\n1:12:50<br \/>\nYeah, I, I didn't know if this was the appropriate forum for my question, because it is quite off topic, from what, what you're discussing, But, I just said, should I ask the question now, or should I do, should we talk about it later? I mean, I'm always curious, is, Yeah. I'd like to involve, but, yeah, I would like to hear your answer.<br \/>\n1:13:11<br \/>\nYes, so, we are building our own home. We are in the process of getting our build permit, we. New Hampshire has a rule that you can only live in your RV for three months without a building permit, right? We didn't know that Our town actually has an ordinance that says you can't live in your camera for longer than 21 days without a building permit. So when we moved on to the property, we were under the impression that we would get our building permit within three months. The site that we have has a lot of hardships on it. It has a lot of wetlands and wetlands and the wetlands are very close together.<br \/>\n1:13:51<br \/>\nAnd so what we had to do was we had to map all the wetlands and it's a very steep property, it's the foothills of Mountain.<br \/>\n1:13:59<br \/>\nSo we had to map all the wetlands to show, like, pick the best project site for the house and because we're going to have to request a variance for the setbacks, for the septic system to the wetlands.<br \/>\n1:14:15<br \/>\nThe, uh, We had to, we had to prove that this was the best location, and that there was no other, better location. So, that was a lot of work.<br \/>\n1:14:26<br \/>\nThe property also had a lot size discrepancy, so, good deed said 14 acres, the, the tax nap said six. So we had to do deed research, so our engineer did that, that took six months.<br \/>\n1:14:40<br \/>\nHe had to do a boundary survey to actually show the correct boundary, and we had to do the wetlands survey, and now he's he's done the draft design of the septic system, which is a specialty septic system that turns the effluent into potable water. So we've done a lot. A lot of work. We've spent, like, close to 15 grand, and the town, one of our neighbors, decided to start making false complaints about us, and is, Wow.<br \/>\n1:15:10<br \/>\nYeah, so The town care, at all that we were in violation of the 21 day rule, until she started complaining each of their complaints that they investigated. They found that she was a liar. And they know from her previous actions, because she's picked fights with all our other neighbors, that she is a liar, like we. The police chief has actually said like her complaints baseless.<br \/>\n1:15:33<br \/>\nSo we actually are going to end up doing a defamation lawsuit against her. That's going to take some time.<br \/>\n1:15:43<br \/>\nBut eventually she got our other neighbors to gang up on us, because she told them that we were dumping affluent.<br \/>\n1:15:50<br \/>\nDumping our sewage from our camper into the brook, which we would absolutely never do. And we have all our evidence that shows we have our camper regularly Tamped. And also lots of neighbors can see that we have our camera regularly pumped because the trucks are loud and the neighbors can see from their house.<br \/>\n1:16:08<br \/>\nSo we, we have proof of it.<br \/>\n1:16:11<br \/>\nThe problem is, the town wants us to leave, and they issued a notice, There's a whole bunch of nonsense that has happened with that notice the prosecutor has been just really sleazy telling.<br \/>\n1:16:24<br \/>\nHe's he's entered lys into our court case, and he's mischaracterized mischaracterized events that took place, so we have, know, we wouldn't ever want to have to sue the town but we we are are kind of at our wits end.<br \/>\n1:16:42<br \/>\nNow, if it was just me and my husband on the job site or on the the house site, we would say, OK, we're just going to give up and get off the site until our building permit is approved.<br \/>\n1:16:54<br \/>\nBut we have children and we, we have special needs, one of our child's special needs.<br \/>\n1:17:03<br \/>\nAnd moving, I'm sorry for getting emotional.<br \/>\n1:17:07<br \/>\nMoving off site would be a huge detriment to his recovery from these issues so, as a mother, it seems like it's it's the wrong decision to uproot his life.<br \/>\n1:17:20<br \/>\nFor this rule that doesn't make sense. And the reason that they have the rule, the spirit of the ordinance, is that they don't want the town to be brought down by.<br \/>\n1:17:29<br \/>\nPeople who just want to squat and, you know, are are a negative impact. You know, that really brings town, They want that, they want the town to be brought down by the town itself.<br \/>\n1:17:42<br \/>\nSo the first thing that's going to take more discussion, I don't wanna go too far, but definitely, I'm gonna look at your notes, And if you could just shoot me an e-mail, let's talk. But, uh, there's right away an arbitrary determination of 21 days. It's an arbitrary period.<br \/>\n1:17:56<br \/>\nAnd that should be appealed.<br \/>\n1:17:58<br \/>\nYou should go to your next appeals process and if they're going to play that game the dog and pony show, you gotta get ready to appeal them quickly. And we actually get the intermittent minutes of the record.<br \/>\n1:18:09<br \/>\nSo, they had said that the 21 days speaks is is only for people who want to use their RV for recreation.<br \/>\n1:18:17<br \/>\nAnd since we're using it as a primary residence, that it doesn't apply for us, that are, that hour variance request. Didn't apply because of the way that we want to use it even though the actual ordinance doesn't have the word recreation in it. But then how can they limit you then? If it doesn't apply to you, then how does that apply then how can they penalize you?<br \/>\n1:18:40<br \/>\nI, I agree, 100%, so they said the The other compliance is that you have to have a building permit and in which case, you can live in the RV for six months while you built your home. And they said, That's your only method of compliance, is to have a building permit.<br \/>\n1:18:55<br \/>\nAnd we've submitted all of our, you know, the forms for the building permit the drawings, and like the energy code form, we've submitted all that. We've submitted all of our drawings from our engineer. So we, we've made progress, We've showed them, we've made progress. And we've showed that there there is a hardship on the site that's causing the request for the variance.<br \/>\n1:19:19<br \/>\nAnd they said, all New Hampshire has wetlands. So everyone has this, so therefore, it's not a hardship. So they like blatantly like just discounted our facts.<br \/>\n1:19:31<br \/>\nAnd I said, we're not going to acknowledge them as truth. and capricious, you got to appeal it. You gotta go to the next level, which I don't know what that is. But there's probably some review board. And then you probably go to your circuit court.<br \/>\n1:19:45<br \/>\nBut let me, let me review it. some more.<br \/>\n1:19:48<br \/>\nYeah, yeah, I don't want to take up anyone else's time with my nonsense. I'm sorry. No, I'm sorry, you're in that situation. I've seen a lot of that, and it's all it's all about due process and administrative law, and I can help you with that.<br \/>\n1:20:00<br \/>\nI just need to I just need to step back in clear my mind, and look at it, OK?<br \/>\n1:20:05<br \/>\nYeah, Oh, yeah. I'm, sorry about that, But I'll check it out I'm gonna.<br \/>\n1:20:09<br \/>\nget the notes here from the call, But certainly if you would, please e-mail me and send me the notes again just in case mm, OK. You know, my address is singleton press at proton mail.<br \/>\n1:20:19<br \/>\nI'm going to write that down Singleton press, prototype, yeah. Proton mail dot com and I think I'm losing my voice guys. Sorry about that. Let me try to get if I couldn't, let me just go ahead and try to get to the last few. Copper it. When did you have something?<br \/>\n1:20:42<br \/>\nCopy there.<br \/>\n1:20:44<br \/>\nHey, John. . All right, cool, Naga.<br \/>\n1:20:54<br \/>\nYeah. I just sent an e-mail, but it shows back saying, Create a ticket. And I tried to create a ticket. And there's no button to create it. So that might help.<br \/>\n1:21:05<br \/>\nCynthia's, You sent an e-mail to Singleton Press. Yes.<br \/>\n1:21:09<br \/>\nSo it shot back with the reply saying that, Hey, go ahead and create a ticket at ace of coins dot com.<br \/>\n1:21:15<br \/>\nThat's interesting, OK.<br \/>\n1:21:17<br \/>\nYeah.<br \/>\n1:21:18<br \/>\nThere's no option to create a ticket there, Interesting, Maybe my assistant does have to ask her what what's in her mind? All right, did you So just shoot me an E-mail and just I'll see the e-mail, by the way.<br \/>\n1:21:33<br \/>\nIf it is not working, I mean, aren't, maybe she's trying to do something good to ask her.<br \/>\n1:21:38<br \/>\nThat's it, and just wanted to thank you for all you do, for, I'm glad to do it and appreciate your joining in. I see your e-mail here, so mm.<br \/>\n1:21:54<br \/>\nCan't be on the phone all, day, sorry about that. Alright, I got it here. So I'll look at it.<br \/>\n1:22:01<br \/>\nTJ.<br \/>\n1:22:03<br \/>\nWhat do you got?<br \/>\n1:22:06<br \/>\nHey, John. How are you doing it? All right.<br \/>\n1:22:09<br \/>\nCredit union in their home, almost, I guess, about 20 minutes. I think I'll just go ahead. But let's take a couple of minutes.<br \/>\n1:22:18<br \/>\nI was planning on getting a second mortgage in my house to be able to subsidize some of their businesses.<br \/>\n1:22:26<br \/>\nSo, what's the best way about doing that, or is there a company? You probably have a video on that? Maybe you can get.<br \/>\n1:22:33<br \/>\nYou want a second mortgage, got to say, about getting a second mortgage, so I can get some extra cash to be able to finance, and you could try the banks. I mean, it might be a hard thing to do right now.<br \/>\n1:22:45<br \/>\nYou might look for a friendly loan money.<br \/>\n1:22:48<br \/>\nThey're going to get a second position, no.<br \/>\n1:22:51<br \/>\nIt's inferior to the mortgage, so it would be someone who suited to do that. You can check for hard money loans.<br \/>\n1:22:58<br \/>\nYou can go through, um, generally, Georgia, Real Estate, Investors Association, There are a lot of brokers over there, and they can tell you how to stage a loan like that?<br \/>\n1:23:10<br \/>\nLike, you wrote the paperwork, the notes, and all that and maybe somebody will buy it.<br \/>\n1:23:15<br \/>\nNo, so I would look for hard money, in other words.<br \/>\n1:23:19<br \/>\nYeah, Thanks, OK.<br \/>\n1:23:23<br \/>\nAll right.<br \/>\n1:23:25<br \/>\nJust real quick, just real quick. I, I scheduled an appointment for you for three on, Monday. And I got the confirmation e-mail, but it's not showing up in the list of my scheduled appointments.<br \/>\n1:23:37<br \/>\nAll right, I think something's in the works.<br \/>\n1:23:40<br \/>\nI have to go check out my assistant, OK? He's doing some ninja stuff on my website. So much. OK. Well, thanks for being on the call, Everybody. I appreciate is interesting.<br \/>\n1:23:52<br \/>\nSo, very cool. All right. You all enjoy your weekend.<br \/>\n1:23:56<br \/>\nThank you. Thank you, someone already.<\/p>\n        <\/div>\r\n    <\/div>\r\n\r\n    \r\n<\/div><\/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-1dae23d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1dae23d\" 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-caa964c\" data-id=\"caa964c\" 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-99ef56d elementor-widget elementor-widget-spacer\" data-id=\"99ef56d\" 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-0ce5de1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0ce5de1\" 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-b35f530\" data-id=\"b35f530\" 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-8b16945 elementor-widget elementor-widget-text-editor\" data-id=\"8b16945\" 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 discussed the use of Limited Liability Companies (LLCs) for a variety of purposes, emphasizing their versatility and encouraging the audience to take full advantage of their intended uses.<br \/>2. LLCs can be used to conduct business transactions such as closing real estate sales, which can be done under the LLC&#8217;s name.<br \/>3. The host also discussed how to use an LLC to hold the title of a property or to strip equity by becoming a lien holder on a property, without actual money changing hands.<br \/>4. In response to questions, the host clarified misconceptions about LLCs being used as holding companies for real estate and crypto assets, suggesting they can serve multiple purposes and not limit to specific use-cases.<br \/>5. The host highlighted privacy benefits of using LLCs, arguing that they can obfuscate ownership and protect against personal liability without breaking any rules unless in the case of bankruptcy or criminal investigation.<br \/>6. The talk stressed that when forming an LLC, each partner should individually identify themselves as owners for better protection.<br \/>7. It&#8217;s suggested not to mix up operating agreement and articles, as articles are filed with the state and form the public record of the company while operating agreements govern how the company is run.<br \/>8. The host shared that setting up net 30 accounts could be beneficial for establishing business credit, recommending the company Uline as a starting point.<br \/>9. The host argued against the claim that LLCs are being used to obfuscate ownership and hide illicit activities, defending that he had never seen such cases in his vast experience.<br \/>10. He ended the discussion advising not to testify against oneself regarding the source of income, and detailed how to avoid giving out personal social security number when a payor is asking for a W-9 form.<\/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-80f83a1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"80f83a1\" 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-9e6f958\" data-id=\"9e6f958\" 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>U85 \u2013 Yes, You Can Do That with Your LLC<\/p>\n","protected":false},"author":131,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[124],"tags":[],"_links":{"self":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/23977"}],"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=23977"}],"version-history":[{"count":7,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/23977\/revisions"}],"predecessor-version":[{"id":25854,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/posts\/23977\/revisions\/25854"}],"wp:attachment":[{"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/media?parent=23977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/categories?post=23977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/privacyfight.io\/wp-json\/wp\/v2\/tags?post=23977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}