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April 14, 2025 - Fresh & Fit

01:37:44

Money Monday Call-In Show w/ Steve From Accounting

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	Alright, and we are live.
	What's up, guys?
	Welcome to Fresh Your Podcast, man.
	It's Money Monday.
	We got Steve in the house.
	Let's get into it.
	Let's go.
	We are back.
	What's up, guys?
	Welcome to Freshier Podcast, man.
	We are here with Steve.
	It is April 14th, man, a.k.a.
	Steve from Accounting.
	We figured today would be a very big episode for you guys because a lot of you guys probably need to get your taxes done.
	Tax season.
	And or, you know, figure out what you're going to do, you know, if you don't have your taxes done or whatever it is.
	So we got our account in house.
	Steve, as you guys know, we got the petition still going.
	It's at the top of the description box if we can add it there.
	Check out my Myron Gaines X channel, my last video.
	Just take that link from there to the top.
	Sign a petition, man, to get justice for Steve and his family, of course.
	And we're going to be promoting that all week, guys.
	Please go ahead and sign that petition so we can get some justice.
	But, Steve, thank you so much for joining the show.
	Obviously, with everything you've got going on, we really appreciate you coming on.
	Also, today's a call-in show as well.
	Yes. The phone lines are open, guys.
	The phone number to call into the show is 646-490-0394.
	Again, 646-490-0394.
	You get access to us and Steve to ask your questions.
	Definitely going to be a big episode for you guys because obviously tomorrow is the last day for taxes.
	So, Steve, welcome to the show, man.
	Can you introduce yourself to the people for those that are unaware?
	I appreciate it, guys.
	If you haven't watched me before, I'm Steve from Accounting.
	I've been with these guys since the beginning.
	When they first started out the show, I was with these guys getting the corporation set up and everything.
	And when you first got your apartment in Miami back in 2020.
	Yep. So, yeah, so you guys have come a long way.
	It's been a great journey.
	Yes. And I really appreciate the opportunity to be here and, you know, answer any questions that you guys might have.
	Yeah. So what we'll do, guys, is, again, call on to the show, 646-490-0394, or you can go on FNFSuperChat.com, or you can go ahead and donate on Rumble Rants or Cal State Club, however you guys want.
	Get your questions in.
	And when you donate, make sure you put the last four digits of your phone number in the donation, whether it's Rumble Rants, Castle Club, or FNFSuperChat.com.
	Yeah, if you want to cut the line, of course.
	Steve, I had a question for you, though, real quick before we start.
	Sure. So, Steve, let's say taxes are due pretty soon.
	What if I miss that due date?
	Can I do it after that?
	Would it be penalized or no?
	Yes. So what I did was I did a special thing just for you guys, just for the Fresh and Fit people.
	So anybody here, I got a free link.
	If you go to my Instagram, Okay?
	What I did for you guys, I did it just for this show, and I'm going to offer a couple things, a lot of free things for you guys.
	Cool. So, basically, if you go to my Instagram, Seeing Beyond the Numbers, in the bio, there's two links.
	If you click on the one link in there that has the free giveaways, you click in there, it talks about the extension.
	So, you know, tomorrow's the last day, but you can go on extension.
	You can file an automatic six-month extension.
	I have two extension forms in there.
	The extension for the corporates had to be done in March.
	But if you didn't do them, let's say you have an S-Corp and you didn't do the extension and then you go to file, you're going to get hit with a penalty.
	So I even went a step further.
	I have a free giveaway, very easy step-by-step.
	You just download it, follow my instruction.
	I have a template in there for both the personal and the corporate.
	So if you file late or you forget to do the extension on time and you get hit with penalties, get hit with penalties.
	Go ahead and file.
	Get hit with penalties.
	And then I have a way where you can get rid of those penalties.
	A very easy way that not many CPAs and not many people know about.
	So it's called the FTA Waiver Program.
	Nice. And it's automatic.
	The IRS gives you what I call is a free mulligan.
	So take advantage of that.
	Go on there.
	You're going to get that information.
	How to file your extension.
	You can do it tomorrow on time.
	It's easy.
	It's automatic.
	But it's an extension of time to file.
	It's not an extension of time to pay.
	So what do you have to do?
	You have to estimate how much you might owe.
	So you have to make a payment by tomorrow if you owe, if you think you owe, and you have to estimate how much you owe.
	How do you do that?
	The easy way is you look at your last year's tax return, see what your total tax liability was, take 110% of that.
	That's the safe harbor rule.
	You pay that and then you won't get penalized for a late payment because there's different penalties in the IRS.
	There's the late payment, there's the late filing, and there's also interest.
	So those are the three things that you can get hit with.
	But you can get the penalties, the late filing penalty and the late payment penalties waived every three years as long as you have a good standing record with the IRS.
	Go to my link and I'll tell you exactly what to say to them and how to send that in and they will waive your penalties.
	Just file everything.
	Get the notice.
	Don't panic.
	Put my template.
	Email or letter with it.
	Fill it out.
	Just follow the instructions.
	It tells you what to put where.
	Send it in to them.
	It tells you where to send it in.
	And they will waive your penalties as long as you've had a clean record the previous three years.
	W sauce, man.
	Thanks, Steve.
	That was great.
	All right.
	Because I'm sure there's some people there probably that are, you know...
	Life happens.
	Yeah, not filing.
	I'm sorry.
	I didn't mean to cut you off there, Barry.
	But I forgot to mention this.
	Another thing I'm going to do is I really appreciate you having me on your show yesterday.
	That was fantastic.
	We got like almost 800 people on the petition, and that's solely because of your platform.
	No problem.
	Just want to let you know that.
	So we're almost at 2,000.
	Once we hit 2,000, that is significant.
	But what I wanted to say is I'm doing a free giveaway.
	So if you go to that same link.
	I'm going to offer three of your guys a one-on-one consult for one hour for free.
	Okay. All they got to do is go in there, follow the steps, do the three things that are on.
	It's right at the top of that link.
	You do those three steps in there.
	Follow my son's Facebook page.
	It's called Justice for Stephen Paul.
	Basically, join my Instagram and then just sign a petition.
	And then on Wednesday, I'm going to go live on Instagram at 5 p.m. Eastern, and I'm going to announce three winners.
	All right.
	Cool. So if you guys want to go ahead and get a free consult with Steve, obviously, Zara County is really good.
	So if you want a free consult with him for an hour, literally get a lot of your stuff handled, you know.
	Just go ahead and do the three things.
	Follow the page on Facebook, sign a petition, and tune in, follow him on Instagram, and you get automatically enrolled in.
	Instagram is seeing beyond the numbers, right?
	Seeing beyond the numbers?
	Seeing beyond the numbers, yeah.
	And it's completely free, guys.
	All you got to do is literally just sign a petition, obviously, to get justice for him and his family.
	Follow on Instagram, follow the page on Facebook, and that's it, and you're enrolled.
	You don't have to spend a dollar.
	Do we have anybody on the phone lines we should go to yet, or chats first?
	The phone lines?
	Okay, we'll go to the phone lines first for the first person's question.
	2068, you are up.
	2068, you are up.
	Hey, Steve.
	Can you hear me?
	Yeah, we can hear you, man.
	What's up?
	What's your question?
	So, pretty much for Steve, it's like, so what road did you take to start your knowledge and accounting?
	Courses and classes that you took for school, if you went for college for any of it.
	So what I would recommend anybody, if they were me or if they were my kid, I would tell, listen, go to a junior high.
	But getting an accounting degree from the highest level school, like Harvard or the Wharton School of Business, is not going to make a difference.
	You don't really need that.
	You just want to get the requirements to pass the CPA exam, if that's what you want to do, if you want to take that track.
	But I would highly suggest...
	Taking the first two years of accounting courses, the base level accounting courses, at a community college.
	Save the money, then make sure those courses can transfer over to another four-year school.
	Because you're going to need to do, I think it's five years now.
	It was four years when I went to school, and then you had to do two years working at a, you know, kind of like an internship or a residency.
	I had to do two years at a CPA firm.
	So I had to do four years.
	Undergrad and then two years at a CPA firm and then I could get my license.
	Now it's where you have to get a certain amount of credit.
	So it comes out to be like five years of undergrad and a lot of people just wind up getting their MBA because they're like, I'll just do a six-year and get the MBA.
	But you don't have to do that.
	But to save money, like I said, just to do two years, make sure that those can be transferred to a four-year.
	And then take the rest of the courses there.
	But basically, you just got to take your basic undergrads, the first two years at the lower division.
	Just do it at a junior college.
	All right.
	Okay. Sweet.
	Thank you.
	No problem, bro.
	You're welcome.
	Okay. Who's up next?
	We have...
	8700, you are up.
	8700, you are up.
	Hey, can you hear me?
	Yo. What's up?
	Hey. Hey, how's it going?
	This is Terry.
	I was in last night from the Zoom call.
	Okay. Appreciate y'all doing this.
	Quick question.
	I'm going...
	I'm changing my life because I've had some mistakes.
	Right? So...
	Let's say I haven't filed typing in like three plus years.
	Okay. So is there a question in particular for you not filing in three years?
	Yeah. I might as well just file today.
	What if I miss the deadline?
	I'm black and slow, so I need some help.
	I'm going to ask you a couple of real quick questions if you can tell me.
	Did you get a W-2?
	I have a W-4.
	Well, a W-4 is a form that you fill out as an employee when you go to work for somebody.
	That's a W-4.
	You fill out and you say how many dependents you have and how much taxes you're supposed to take out of your check.
	A W-2 is what you get at the end of the year when you're done working, and then, you know, you get it in January or February of the next year, so you use that to file your taxes.
	It says how much you made, how much they took out of your check, you know, how much you contributed to a 401k, things like that.
	Yeah, I went from homelessness to commission-only sales, door-to-door, and I'm a sales manager, and it's been all W-Forrest since then, so.
	Yeah, so I mean, if you haven't filed, there's no requirement for you to file if you didn't receive any, like a 1099.
	From somebody that paid you money, which was over $600 in a 12-month period, or if you worked a W-2 job where they took taxes out.
	So you have really no filing requirement.
	Oh, shit.
	So I'm good.
	All right.
	So, I mean, do I still file my taxes?
	I wouldn't.
	Unless you have a dependent that is dependent on you and you're paying for their expenses, and you're not making any earned income.
	So you have to make earned income in order to qualify for the earned income credit, and you have to have a dependent.
	So none of those apply.
	So based on what you're telling me, you don't have any filing requirement whatsoever.
	Okay, so I'm a sales manager.
	I get base pay, so no matter what I do...
	I get paid, but I also get commissioned on top of that, depending on how my stores do.
	I just want to clarify.
	Like I said, I'm black and slow, so I'm trying to keep up.
	So, when did you start that commission job?
	I'm just joking.
	All right, well, that's pretty much all I had to ask.
	I appreciate it, man.
	You're welcome.
	All right.
	Okay, who's up next?
	Yes, we have 1-608.
	You're up.
	1-608.
	We got a number call on the show, guys.
	It's 646-490-0394.
	Welcome to the show.
	We got Steve from Accounting in the House.
	If you guys got questions, obviously taxes are due tomorrow.
	It's tax season.
	So, you know, we figured this would be a really important episode for you guys to be able to get some questions answered and, you know, learn some stuff before you make any mistakes and end up arrested by the IRS.
	So, go ahead.
	Let's go to this caller.
	1-608.
	Hey guys, can you hear me?
	Yo, what's up, man?
	Welcome to the show.
	Hey, how's it going?
	Appreciate all you guys do.
	Been listening for about two years now.
	Awesome. Questions for Steve.
	I'm starting to study for the CPA at the end of May.
	Pretty much kind of what you just gave the advice to the first caller about doing the community college credits.
	I work for a CPA firm already, so I'm just kind of trying to knock everything off right now.
	And then the timeline kind of...
	Gets me to the end of May where I could start studying.
	So my question is just any advice that you have for studying, time management, if something was to fail where you don't pass apart, like, what advice do you have?
	And then any side hustles after you pass the CPA that you would recommend for people to do?
	Okay, so now you're still working for the CPA firm or no?
	I am.
	I have a full-time job there.
	Okay. It's going to be tough.
	I don't know how busy you are with them.
	I'm assuming you're full-time, but have you considered taking a refresher course to study for the CPA exam, like a Becker or something like that?
	Yes. My company pays for Becker, which is great.
	Just take that.
	Take that.
	Get it done.
	Get it done as quick as possible.
	Get it out of the way.
	It's going to be tough.
	You're going to grind for the first year or two.
	You're going to try to get your parts.
	It's a little bit easier now because when we had it, you had to sit for all the parts and then pass two in your first sitting in order to keep two.
	So now I think you guys can do one and one, but then you have to take the next one within a certain amount of time.
	I can't remember.
	My niece just did it.
	But I would just knock the easiest one off.
	First, are you in audit or are you in tax?
	I do auditing.
	All right.
	Then knock off the auditing one first because you're doing that job.
	It goes hand-in-hand with what you're doing.
	Things are going to be making sense and just get it out of the way.
	And then try to get a rotation in the tax department when tax season comes.
	Try to say, hey, you know, I'm not busy on any of these audits.
	I could come out.
	You guys seem busy, you know, in tax season.
	Let me come out and I'll do some, you know, I'll do some returns.
	Then at that time, knock off your tax one.
	That's how I did it.
	What about FAR?
	They always said that's the hardest one and they get it out of the way.
	So do you just recommend...
	No, I would do because you're telling me you're just auditing out of the way.
	And then just get those parts out of the way so you can keep them and then...
	Yeah, financial accounting reporting, you know, yeah, because it's a lot of stuff that you're going to get exposed to that stuff because you're going to have to do footnotes.
	You're going to have to do financial statements.
	You're going to have to know how to, you know, financial presentation, I'm assuming, based on the auditing companies that you're doing.
	So then possibly if you don't do a tax rotation or whatever, then get into FAR after the auditing.
	But I would do the auditing first and then the FAR or the tax after.
	All right.
	Great. And then for side hustles, is there anything that you would suggest for someone to do after work?
	Not while you're working and studying doing those.
	No, just concentrate on those two because, you know, you don't want to spread yourself too thin.
	That's my advice.
	And I'm sure you're getting paid well at the CPA firms.
	Most, you know, kids coming out of school working on this, you know, you're probably making 60, 70 at least minimum.
	That's pretty good.
	So that's good.
	You're going to have your hands full.
	Yep, I'm ready for it.
	Yeah, and you want to do good at a firm like that and stay there, you know, if you can.
	I would stay there five years and then from there you can decide if you want to stay or you can just do your own thing.
	But five years typically is the amount of time where you're going to be like a manager, you know, and then a few years after that, five years after that, you'd be a junior partner if you want to stay that track or you just go out and hang your own shingle.
	Awesome. Well, thank you again.
	I really appreciate your help.
	All right.
	Some good advice.
	No, great stuff, man.
	It's always great whenever we got Steve in the house giving you guys all kinds of advice, especially for you guys that want to become accountants.
	You know, they tell you, oh yeah, go to college, blah, blah, blah.
	But Steve, I mean, telling you, hey, look, just go to the school that you get your degree.
	And then really what it's about is passing your CPA exam.
	That seems to be the most important thing here.
	Also avoiding five years.
	Yes. Who else is up?
	Who's up next?
	We have...
	9026, you are up.
	9026, what's up?
	9026. Hey, what's up?
	Can y'all hear me?
	Yes, go ahead, bro.
	Hey, I'm 24. I live in California.
	I flip houses here in California.
	And I had a question for Steve about how should I do my taxes because I flip houses off of my personal name right now.
	And I don't know if I should create a corporation just to make it easier in my tax write-offs.
	I also have a janitorial business and I'm writing off everything like floors.
	You know, it's interesting.
	Steve used to flip houses, so this is the perfect person to ask.
	It's a wheelhouse.
	Yeah, literally, he used to do this.
	So go ahead, Steve.
	Take it away.
	Yeah, so definitely, I would highly recommend forming an LLC and converting it to an S corporation.
	Get on my Instagram page and link in there.
	It's a book.
	It's really cheap.
	It's like $17.
	I walk you through the process of that.
	Step by step, everything you have to do.
	And it even applies to the jurisdiction of California.
	All 50 states I have it for.
	And it's got all clickable links.
	It's a smart PDF, so you can click in there.
	It's got little YouTube videos of what you have to do step by step going in there.
	But that's what I would recommend doing.
	Because you don't want to file all that stuff on your personal income tax return.
	You're going to have capital gains, hopefully, because you're flipping properties for more than you bought them for.
	But you want to remove that activity off of your personal tax return and then K-1, the gain having come in because this way your business activity is separate from your personal.
	And I talked about that on past shows.
	Why is that important?
	Because there's two different examination departments in the IRS.
	There's the examination department that examines and audits, examination meaning audits, businesses like S-corporations.
	Partnerships and C-Corps.
	Then there's a different arm of the examination department that only focuses on personal.
	So by you doing all this flipping activity and business activity, you're putting that inside your personal and you're putting that under the purview and jurisdiction of the people that handle the individual audits.
	And sometimes you're getting people in there that are not really skilled at business and knowing what you're doing and flipping houses and stuff like that.
	You know, they're looking at different things to audit.
	And now you're putting your business activity on there, and it could be a nightmare.
	So you want to, what I say, just divide and conquer.
	This way, you're kind of just putting less risk out in two different areas.
	Another tip I'd give you, bro, is get a credit card per business.
	This is kind of what I do with Steve.
	So I have a fresher fit.
	Uh, credit card and I have a, um, my real estate credit card cause I have a holding company that holds all my real estate.
	So that credit card I give to Steve that has all the charges for that.
	And then my other credit card is for fresh and fit.
	So he's able to basically separate the two businesses and be able to do, um, to do both.
	So, um, and I think if I'm not mistaken, uh, Steve, when it comes to real estate, that's the only time where you actually want to hold it in an LLC versus an S corp, right?
	Correct. Yes.
	And we talked about that too.
	Like the limited liability came out of lawyers.
	Lawyers basically created this entity.
	And the reason why is because a lot of lawyers, whenever you see a firm, you're going to see like maybe five or six names on the wall.
	And like, okay, I'm going to go to Berlin, Patton, and Johnson.
	So that's three partners.
	All three partners have all different clients.
	So they didn't want, they wanted to limit their liability because if, you know, Mr. Berlin...
	If someone has a problem with a client and gets sued, it's only going to limit his liability to what he has personally in his assets, and it's not going to extend to the other partner.
	So that's why they did the limited liability.
	And the other reason that is good now is for properties.
	For instance, Myron has several properties.
	Each one of those properties has a separate LLC because what he's doing, he's separating the liability and limiting the liability of any of the assets.
	If somebody should sue him on one of those assets, it can't.
	Can't go to another one.
	Should he have all those under one entity, now all of those assets are fair game to be sued as assets.
	Got it.
	One last question about the S Corp.
	With the S Corp, I could flip as much properties under that corporation, right?
	Correct. There's a way you can put a rental schedule.
	It's called the 8825 form.
	It works just like a Schedule E on your personal.
	And I have lots of clients that file that form, 8825.
	And then the K1, there's a K1.
	I'm getting a little technical, but the K1 attaches to your 1040.
	But you still file your S-Corp.
	It's an information return.
	You don't pay any taxes on it.
	And that goes to a different department to get processed.
	And should it ever get flagged for audit, that goes to a different department.
	Examination department than your 1040 does, your personal return.
	Yeah. All right, for sure.
	Thank you so much, Steve, for this advice.
	I'll definitely look into your Instagram and buy your book.
	You're welcome.
	I admire and refresh.
	I appreciate the show, man.
	This year, I'm making off of a deal already, 90K.
	Let's go!
	A few years ago, I lost about 50K.
	I lost, and I never gave up at 21. So thank you guys so much, man.
	My credit score, I'm Amex Platinum because of you guys, so I appreciate everything.
	Nice, nice, nice.
	That's what it's about, bro.
	When you guys become successful and make money, man, it's not just about 304s.
	And Steve's Instagram is, again, seeing beyond the numbers on Instagram.
	Seeing beyond the numbers.
	Seeing beyond the numbers.
	We could drop it in the description.
	Pin in the comments.
	Pin in the comments, bam.
	All right, cool.
	Who's up next, guys?
	Again, 646-490-0394, man.
	It's just a clinic of knowledge today.
	You guys have a rare situation to be able to speak to a very successful accountant that runs his own firm, honestly, so he can speak to you guys from all different angles.
	Your tax questions, your questions about potentially getting on the road to becoming an accountant, the CPA exam, any of that stuff.
	And also, guys, do me a favor while we're waiting for the next caller to come in.
	Do me a solid and sign the petition to get justice for Steve and his family.
	So that we can hold the scumbag accountable that obviously took his son's life needlessly over dispute.
	But Steve is still here showing up, giving you guys value regardless of what's going on.
	So he's still showing up for you guys.
	Not easy.
	I actually threw the link to the free tax extension guide and the free...
	The free, you know, waiver, IRS penalty waiver guides in there, and then the extent, you know, the link to the petition information and all that stuff in there.
	So it's all one link.
	And then if you want any other free resources, it's all in there.
	So that's in the chat.
	I just threw it in there.
	Link in the top of the description.
	Link in the top description.
	Oh, yeah, for the petition, right?
	Yes. Yeah, please, guys, sign up.
	Let's get it to over 2,000 so we can get...
	And the petition, guys, just so you guys are wondering, it's so that the sheriff's office will reopen the case.
	You know, in the murder of his son.
	Because they first originally ruled it as a stand-your-ground thing, and then Steve went to the district attorney's office, presented the case to them, and they're like, hey, we weren't even aware that, you know, it was this egregious, and, you know, we need some pressure to get the sheriff's office to reopen the case, the criminal investigation.
	Fresh. Also, funny side note, CNN just dropped an article on the Manosphere, including you and Andrew Tate.
	Another article?
	Yeah. Yeah, they did.
	Another one?
	They dropped one yesterday.
	This one's on...
	They literally dropped one yesterday on Jake Shields.
	Oh, shit.
	Yeah. Anyway.
	Anyway, whatever.
	Okay, so let's get to the next caller.
	646-490-394.
	We got Steve in the house.
	Guys, please get your questions in.
	Tax season is here.
	Yes. And you have the best person you can in the house to answer your questions.
	Who's up next?
	Tomorrow's the last day.
	What'd you say, Fresh?
	Tomorrow's the last day.
	Okay. We have 6486.
	You are up.
	6486. 6486.
	What's up, man?
	We can hear you.
	6486. You just donated, bro.
	We can hear you!
	Alright, you go to the next person, I guess.
	Shut up, Meg.
	Alright, we're the next person.
	Whatever. Probably.
	1034, you're up.
	1034, you're up.
	Hi, guys.
	Appreciate your content.
	I had a question about dividends.
	Dividends? Yeah, how long you can hold them and what's the tax liability or incentive of having dividends.
	All right.
	Steve? Yeah.
	Well, dividends is, you know, hopefully you got a good stock and they're paying you dividends.
	If they're paying you dividends, then those are taxable under ordinary income tax.
	Capital gain is different.
	Capital gains are taxed if you hold them long term and you sell, you know, for instance, like that kid had a property.
	If he held that property for over 12 months, then you get a preferential treatment.
	It's a lower tax rate.
	But for dividends and interest and earned wages, you're taxed at what's called the ordinary income tax, and those are the tax brackets.
	Okay, that makes sense.
	So, in general, I would just have to hold if I wanted any other benefits.
	But you're talking about capital gains.
	I think you're mixing capital gains.
	From dividends.
	Dividends are what's paid from a stock.
	Let's say you own Amazon and they pay your preferred stockholder and you get paid dividends every year because the company makes a profit.
	You have stock and then they pay you a dividend.
	That's taxed at ordinary income.
	But the stock itself, let's say you buy it at, you know, 400 and it goes to 800 and you sell it.
	That difference, the 400 gain is a capital gain.
	Well, those are two different things.
	It makes sense.
	Thank you.
	You're welcome.
	Alright. Alright, who's the next person?
	We have 4708.
	You're up.
	4708. Yo, Money Monday.
	What's up, man?
	Yo, what's up, bro?
	Thank you, Steve.
	What's up, Myron?
	What's up, Fresh?
	What's up, man?
	Quick question, man.
	I've been not filing taxes because I'm a real American, and I've been just surviving off selling crypto a little here and there.
	I send USDC to my account.
	Crypto.com prepaid Visa card.
	I also, you know, send a little Bitcoin here and there to my cash app.
	You're a finesser, bro.
	You're a finesser, Tyler.
	I trade.
	I trade, and I, you know, I don't have any, like, a lot of capital gains sell, like a lot of dollar amounts.
	So my question is, is there, like, a price limit?
	So, like, let's say I sell $150,000 of crypto, then I should file for capital gains?
	Or should I file for capital gains?
	And, you know, even though I sell $30,000, $40,000 in a year.
	Okay, so let's start with one.
	One, it says you haven't filed in a few years.
	Did I hear you correctly?
	You have not filed any taxes?
	That is true.
	That is true, sir, Steve.
	I haven't filed.
	And it sounds like you're a renegade.
	It sounds like you're off the grid and you're working on the crypto stuff.
	Yeah, there's a lot of guys that do that stuff on the crypto.
	So don't attend any of the same seminars that Wesley Snipes did because they didn't work.
	No, at the end of the day, listen, the IRS is doing what they call Hidden Treasure.
	What they're doing is just compiling and compiling and compiling data.
	And when the crypto market was down, they took a lot of, they skimmed off a lot of talents off of there of guys that they brought in and they hired because those guys were not making money or they were not getting, you know, there's no projects for them to be working on.
	And they brought that talent into the IRS.
	And what they're doing is they're building tools.
	They're also implementing AI.
	So you've got to remember, everything is out on the Internet.
	Everything is accessible.
	Everything is on a digital ledger.
	Everything can be traced.
	Wallet in, wallet out.
	You onboard into the crypto exchanges, and you offboard, and you have your on-ramps and your off-ramps.
	All of those tools, whether they're in some jurisdiction, oh, well, the service in China, let's say, or it's somewhere in the Netherlands or some offshore island or something like that.
	What's going to happen, basically, is those exchanges and, you know, like the Tornado Cash wallet, right, was one example.
	They just put pressure on those people that make that software.
	Then they basically fold and they give up all the information.
	And then everything is traceable to a certain extent.
	So it's just a matter of time before, you know, they're going to go after the big fish.
	So you're probably not one of them, you know, unless you're doing millions and millions of things.
	So, yeah, you're going to fly under the radar for now until the tools get better and better.
	And then when they get better, then you're going to have to figure out, you know, what you have to do.
	But, you know, like I said, they have talent within the IRS.
	They're just compiling data and they're putting tools together.
	And then what they're going to do is they will put pressure on those exchanges.
	And those exchanges want to make money.
	They want to be operating.
	They want to be shut down.
	Because every time, you know, somebody uses an exchange and they're doing transactions on their, you know, those exchanges make a lot of money.
	So you have, like, Coinbase is very compliant.
	Coinbase will give their customer information if the government puts pressure on them.
	And they have.
	So, you know, you got to think of it that way.
	I definitely do have, like, those tax, real tax documents and forms of, like, a certain amount of, you know, crypto that I sold from Square, Cash App, and Coinbase.
	But, so, this current administration looks like, you know, they're partnering up with the central banks, and they might even go to no tax on crypto.
	So, this next question is, can I file this, you know, late filing?
	You know, a handful of years ago, can I just file like, you know, 2026 once the new crypto law is friendly and can I just, you know, do a bulk, like a bulk filing session?
	No, it doesn't work that because what you are is a cash basis filer.
	So any of those transactions that occurred in whatever calendar year those occurred in, the IRS will construe those as having to be reported in that particular year on that particular year of tax return.
	You can't say, all right, we'll bring it forward now.
	But now we have good preferential treatment and I'm going to decide to slip it through now.
	It doesn't work that way.
	You have to go with what happened back then because you were in constructive receipt of that money.
	And that's what the IRS, you know, that's what they call constructive receipt.
	It happened in that particular calendar year.
	The rules that were in play at that particular year apply to you.
	So, no, you cannot bring those into, you know, a better, you know, IRS treatment year.
	I wish, you know, that would be nice, but no, it just doesn't work that way.
	Steve, real quick, will they charge him back tax for not paying, or no?
	Well, only if he's flagged, you know, I mean, based on, there haven't been a lot of people that have been flagged with the crypto, because the IRS is kind of, it's like a huge, massive cruise ship that's got to make a turn in a small little port.
	It's going to take forever for them.
	They will get there eventually.
	So a lot of guys are going to get away with a lot of shit, and they have been.
	But then there'll come a time when, you know, they're going to make examples of certain people, and then everybody's going to be, oh, shit, I don't want to be that guy.
	And people will start to comply.
	That's kind of the way that they operate.
	Got it.
	Thanks a lot, Steve.
	I've been mitigating this risk and low cash amount.
	Would you say like a cash amount, like more than $20,000 a year or $50,000 a year?
	I think the taxable amount in California used to be like $16,000 a year.
	This would be like, I don't know, capital gains, I would say.
	I left California since then.
	I'm in a different state.
	The great state of Colorado, America's Mountain, Pikes Peak.
	Yeah, I mean, you guys have up to 13% tax rate.
	It's one of the highest, I think, in all the states in the Union.
	I'm not sure what your question was as far as, like, you're saying, like, oh, like, it's almost like, I think the question was kind of asking, like, oh, you know, should I deposit, like, you know, $9,900?
	You know, like, that bank rule where, like, over anything, over $10,000, they got to, like, you know, make a special report to the IRS type of thing?
	Is that what you're asking me?
	No, my question is, like, if the capital gains that I've sold, like, the proof, the data from, like, Square or Coinbase.
	Or crypto exchanges, right?
	That know and notify the IRS.
	Like, if it's less than $30,000, $40,000, like, I'm just a small fish.
	Small fish.
	Like, they're not going to come after me, but if they do...
	So, no, don't...
	Should I...
	If any exchange that you used filed a 1099...
	I think it's going to be a 1099...
	Oh, my goodness.
	There's going to be a special form they're rolling out.
	I think it's coming out next year.
	Once they file that, the IRS puts that in your transcript, and they're gonna look for it when you file your return.
	They're gonna match that.
	That's called 1099 matching.
	So W-2s are matched.
	1099s are matched.
	1099-Rs are matched.
	1099-NECs are matched.
	1099 MISCs, like all these versions of 1099s all get filed with internal revenue service.
	They have that.
	They have who gave it to you, what their tax ID number was, how much they paid you, what their name was, what your name was, what your tax ID number is.
	That's in the transcript.
	If you don't file, the IRS, after a certain amount of time, they may not do it year one, year two, year three, but typically around year three, year four, they'll take those 1099s, and what they do is they file what's called a substitute tax return for you.
	And what that is, is they deem you a single taxpayer, They give you no expenses against that income.
	They just give you all of the...
	They report all of those 1099s as income.
	And then they give you the standard deduction.
	And then they calculate to see if you would owe.
	And then they'll send you a notice saying, hey, we noticed that you had these 1099s.
	We noticed that you didn't file, but we did it for you.
	So here you go.
	And by the way, you owe $2,000 or you owe $5,000.
	And then since you didn't pay...
	And it's a substantial under-reporting because it's going to be, you know, you're 100% missed your income because you reported zero.
	So it's more than 25%.
	And we're going to add, it's going to be, you know, it's going to be almost double for that.
	Plus, you know, you didn't pay on time.
	And we had all this interest that accrued, too.
	So now that $5,000 comes out to be, you know, $15,000 and payout.
	And I've got tons of taxpayers that they haven't, that happens to.
	Yeah. Thanks a lot, sir, Steve, for this wisdom, man.
	Looks like I gotta reconcile with the relationship with old Uncle Sam.
	Thank you, Fresh.
	Thank you, Myron.
	Thank you, Mo.
	Thanks, Chris.
	You're welcome.
	No problem, my man.
	You got some work to do, bro.
	Yes, sir.
	Thank you, sir.
	No problem.
	All right.
	Who's up next?
	Again, the guys, number of calls for the show is 646-490-0394.
	We got Steve in the house.
	Obviously, tax season is here upon us.
	Tomorrow is the last day, April 15th, so get your questions in now.
	Whether it's financial, want to become an accountant, taxes, whatever it may be, we got the expert Steve here.
	Should we chat and give Steve a little break?
	Yeah, yeah, we could reach ads, actually.
	Yeah, we've been going crazy with the phone calls.
	Massive value, bro.
	Yeah, yeah, yeah, no.
	And again, as expected, right, Money Mondays don't do as well with the views because people don't really care about getting their money on point or fixing their financial problems.
	But we're going to keep doing it, guys, because the amount of value on this stuff is enormous.
	I mean, you know, I think this is more important than us talking to some members.
	I think this show is only for the top 10%.
	Yes, yeah.
	And actually, that guy...
	It reflects the greater demographic of the world, right?
	It absolutely does.
	That kid, I was 21 years old.
	About to make 90k off of a property.
	Yeah, these kids are killers, man.
	They're our new killers for the future.
	Yeah, you know, but when we bring the girls on, $10,000, $20,000 watching financial stuff, oh, no, bro, I'm good.
	But tonight we have Dan Cates, best poker player in America, with some girls afterwards.
	Okay, yeah.
	Yeah, so yeah, we're gonna...
	Yes, that's going to be after our show with a special guest as well.
	What do we got here?
	Santos. Santos says, I received a very large bonus that had the pay date of 1225 to 107.
	My CPA did not file it because he said it appeared in the next year's paycheck.
	Steve, what are your thoughts on this?
	Wait, so he said he filed something for $12.72?
	Basically, he got a very large pay bonus that had the pay date of December 25th through January 7th.
	My CPA did not file it because he said it appeared in the next year's paycheck.
	Steve, what are your thoughts on this?
	That's correct.
	Fair enough?
	That's correct.
	What else have we got here?
	Oh, yeah.
	We've had a couple people do that, too, where they have Steve check their CPAs.
	Hey, double checking is not bad at all.
	No, no, no.
	Nothing wrong with that.
	Getting a second opinion is very smart.
	Yeah, because the pay date fell in January of the next year.
	It's straddled over.
	So that means you're in constructive – it goes by when you're in constructive receipt.
	So the IRS says, oh, it's January, so now that's in the next year.
	Gotcha. Okay.
	We got here from 407Taker says, hey, what up, Maren?
	What up, y'all?
	Myron Fresh, Steve.
	My condolences go out to you and your family and Fresh and Fit.
	Huge support of you guys.
	Keep up the great work.
	So my question, I'm a truck driver making over $100,000 a year.
	I want to know what gives the best tax break, C-Corp, S-Corp, or LLC, and how you go about setting up S-Corp so I be able to pay myself.
	Steve, what are your thoughts on that?
	Guys, the petition is at the top of the description if you guys want to help.
	Please sign this petition.
	Let's get to 2,000 signatures on there.
	But go ahead, Steve.
	Yeah, so what you can do is you can do that limited liability.
	You don't have to because it's just a truck.
	So you can do a straight S corporation, just do an INC at the end of any name that you choose with your Department of State.
	And then you just file a 2553 form, and you just basically fill that out with the information on page one and two, sign it in two spots, and then you send it in.
	You can also, if you get a CPA in the first year that you do the corporation, you can actually just say, hey, I want to be a...
	That's a corporation.
	And he can actually file that with your first year's filing when you do your tax return the first year.
	I do that all the time for all my clients.
	I don't do the election ahead of time.
	I'll have them form the company, get a tax ID number, get a name with the State Department, and then they start operating with, you know, whatever licenses they need or whatever.
	And then at the year end, when they give me all their stuff, you know, obviously they have a separate bank account.
	That's why you need a different tax ID number or to get the credit card.
	We compile all their books.
	We figure out how much they made.
	Or if they didn't make money, we report their tax return.
	And then what we do is I file the S election form along with their income tax return at the same time the first year.
	Okay. Just easier that way.
	Fair enough.
	Thank you for that question for 07 Taker.
	Good question.
	We got up next.
	WFNF, welcome back fresh.
	You were missed.
	That's from Gaz.
	Appreciate it, bro.
	11 says, what's good, crew?
	I haven't filed my tax in the past two years because it would always say the refund is $25 to $90.
	Yes, I know L for being lazy.
	But I am cooked or does it not matter?
	He's asking, but am I cooked or does it not matter?
	I'm not sure.
	Basically, he hasn't filed this tax in the past two years because he would always get a refund of like $25 to $100.
	So in his eyes, he's looking at it like, bro, I don't even get a refund.
	Why am I following these taxes?
	But I don't think he realizes that.
	It's not about getting just the money.
	It's about filing the taxes, bro.
	It's about filing the taxes.
	Also, you know, you may want financing and they want to know that you have some at least, you know, work history and stuff like that.
	So, yeah, if you're paying somebody more than what you're getting in a refund, then I don't know how complicated your taxes are.
	But if they're not that complicated, you could probably just get some cheap software and just do it online.
	Like there's H&R Block where if you just have a W-2 and you don't really have a dependents and you don't, you know, own a home and you're not getting any itemized deductions and stuff like that.
	It's just straightforward.
	Just go on one of their free things and just, you know, fill in your W-2 information and file it yourself.
	So you don't have to pay that much.
	Sounds like there's a straightforward deal.
	Rather than trying to pay somebody and then, you know, you're getting less back.
	But it's, you know, again, it's kind of like having a credit report, too, because banks want to know, like, if you're working and making a job and then you defy your taxes and, you know, you're always going to, if you go for financing to get a house or something like that, you know, they're going to want to copy your tax return.
	And if you don't have it, then...
	Then you gotta file it.
	Steve, I got a friend, right?
	A good friend of ours.
	He loves alcohol, especially Hennessy.
	Is there any way he can write off his taxes?
	Is Hennessy drinking at all or no?
	Yeah, so he could do a work-related party for his business and then say that he's bought food and alcohol for it.
	Okay, I like that.
	That's been known to be done and it works very well.
	Alright, I'll tell him right after this show.
	Thank you, Chris.
	Sorry, Steve.
	Bless you, Fresh.
	What was the next one?
	David says, I appreciate all the work you do providing different topics and keeping us informed.
	The space you did this morning was awesome.
	Keep doing them.
	Myron. It's crazy things that were being said, but we all need it.
	Makes you think our battle is not only with them boys.
	Do you think you can make more spaces with Simon?
	Welcome back, Fresh.
	Yeah, I mean, we were talking about the financial market and...
	Basically, tariffs and stuff like that.
	Complex economic stuff.
	Yeah, I could in the future.
	I'll probably want to clip some of that conversation as well for you guys.
	Put on the Myron Games X channel.
	Actually, I'm talking to Nick right now, matter of fact, about that.
	Alright. So, yeah, man.
	Thank you.
	I'll tell him right now.
	We're from our sponsor?
	Alright, and then, next caller, while we get that up.
	Oh, you got it?
	Alright, guys.
	The sponsor today is...
	1775 Coffee.
	Feel free to sell this one.
	If you still haven't entered to win the Cybertruck and 30k, this final shot.
	It ends April 20th.
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	See you there.
	All right, next caller.
	Yes. We have...
	I just saw you doing it on Castle Club.
	All right.
	2-9-0-5.
	I know you're still in here.
	There you are.
	2-9-0-5, you're up.
	2-9-0-5.
	Hey, guys.
	What's up, bro?
	Can you hear me?
	We can hear you.
	All right.
	So I haven't filed my taxes in like five years.
	The reason for that being is back in 2020 when COVID was happening, I got a letter from the IRS saying that I needed to call them.
	I obviously couldn't get in touch with them because COVID.
	You know, I tried calling for weeks on end and there was no answer.
	So I haven't filed my taxes since then.
	I'm just wondering what should I do.
	I just...
	I work a 9-5, so I got a W-2, but I don't know.
	It just hasn't really worked me filing my tax returns for some reason.
	And then my dad passed away in 2023, so I got money from him.
	My family told me that I was supposed to, or that the taxes were already taken out of that money that I got.
	But I don't know if I'm supposed to file it or put it on somewhere, but I'm just trying to figure it out.
	Okay, so let's work with the first thing.
	So you have a W-2 9-5 job.
	You haven't filed in five years.
	It sounds like you probably had you filed.
	Sounds to me like you probably would have gotten a refund.
	And when I talked about the case where if you don't file and they take all your W-2 and 1099s for you and they file for you, if they come out and it says that you got a refund, they're not going to tell you about it.
	Yeah. So the problem now is because you're going back five years, so you can only get a refund going back three years, and you can only amend the return going back three years.
	So year four and year five going back, if you have a refund for those years, you can't claim that now.
	So what you do, what I would tell you is, file your taxes, figure out if you're getting a refund, because the taxes going back three years...
	You might get a thousand bucks back or something.
	Get that money.
	File for it.
	See if it is.
	If it shows that you owe, I doubt it though, but if it shows that you owe, then, you know, now you got to figure out how much you owe and figure out what you got to do to pay it, whatever.
	But it sounds to me like, you know, because like year five and year four, those years, probably the IRS did a substitute and they figured out that you were getting a refund and they just didn't tell you.
	Now, the latter that they, I don't understand the whole issue.
	Like, why do they want to call you?
	I have no idea.
	It was very vague, so I don't remember the specific reason, but yeah.
	I've never heard an instance where somebody's ever gotten a letter to call the IRS and it was vague or whatever.
	So that could have been a scam.
	Okay. It sounds like a scam to me.
	And there's a lot of scams like that, where they say, please call the IRS or whatever.
	Typically, the IRS won't call you.
	They just don't call you.
	They send certified letters to the address of the taxpayer.
	So it's everything documented.
	Because they never know who they're talking to on the other line.
	How do they know?
	And they prove to you that you're the taxpayer.
	So a lot of people get scammed that way.
	So that sounds like a scam to me.
	That was to get you on the line.
	They give you a letter in the mail, and they say call this number, if anything.
	And they never call you directly.
	So that's kind of weird.
	Correct. And then what you want to do is make sure that they're looking up on their legitimate website to make sure it's a real number that belongs to the IRS, not some other bogus number.
	So that's not normal.
	I've never heard taxpayers say, you've got to call the IRS.
	No, I didn't ever hear that.
	So what was that thing?
	Then you said something about your father had passed away and you inherited some money, and it sounds to me like that money...
	Probably went into a trust.
	The trust files its own tax return, calculates how much income is in there, and pays its own taxes.
	So that's probably what your family was saying.
	The trust that was set up, or the estate tax return that was set up, calculated whatever taxes were owed, took it out, paid it, and then they gave you the remainder of the money.
	So the taxes were taken care of.
	That's normal.
	That sounds about right.
	So, like, if I file for 2023, like a tax return, I'm not going to, like, that's not going to affect me in any way.
	No, because you would have to get what's called a K-1 form.
	So, on your dad's estate, there would have been a return or a trust.
	It was probably in a state.
	The state would be a 1041.
	So, there's a 1040 for people, but then for the state, there's a 1041.
	That spins off what's called a K-1.
	So you may want to go back and ask, hey, did I get a K-1 for this, for that year?
	Maybe you did, maybe you didn't.
	I don't know.
	Somebody had to figure that out.
	But if you didn't, maybe they paid the taxes on the estate level.
	Because sometimes you can do the estate and then give everybody a K-1 and everybody pays the taxes on the individual level or the estate pays it on the tax on the estate level.
	And then it just distributes the money.
	So there's no K-1s.
	That's two different ways to do it.
	So you've got to ask.
	It sounds to me like they probably just paid the taxes at the estate level and then distributed the money.
	You just got a check, right?
	Yeah, I just got a check.
	Yeah. So that sounds to me like they just paid the estate taxes at the estate level, whatever it was.
	Yeah, so I would look into your, what is it, 23, 22, 23, and 24. Go back to 22. See, if you're getting a refund, you're probably getting, it sounds to me, you're probably qualified for a refund.
	And the IRS is not going to tell you.
	Yeah. All right.
	They'll notify you.
	That was my question.
	All right.
	Who's up next?
	646-490-0394, guys, again, is the number to call into the show.
	I've been answering a lot of...
	I mean, not us, but Steve's been knocking them off the fucking park.
	I'll tell you this, man.
	Steve's time is money, so this is really...
	Yeah, you're welcome, guys.
	You guys...
	It's not cheap.
	I'm one of the best accountants here, answering your guys' questions for little or nothing.
	Giving you guys all kinds of value.
	So, who's up next?
	We have 2788.
	You are up.
	2788. You are up.
	Hey, Steve.
	Hey, F&F.
	Hey, how you doing?
	First off, my condolences about your son.
	I posted a link.
	Thank you.
	Appreciate it.
	Appreciate it.
	Yeah, for sure.
	Thank you, bro.
	Thanks a lot, man.
	And as well, let's see, and our Chicago chapter is also signed to all of that, but love you, man.
	You've done so much for us, so God bless you.
	But as far as my question goes, I have it written down.
	I have set up my escort for my trucking business and now setting up an LLC for my online business business.
	But as far as the S-Corp goes for 2025 for my trucking, I'm going to set up my business account this week for it.
	So first question is, out of two, is the business account tax deductible, investing in that?
	And number two is, how would you budget and divvy and allocate all of the revenue to be in the best position to succeed?
	Like, how much would I pay myself as my own employee percentage-wise?
	How much percentage-wise for operational expenses and profit, etc.?
	And with that, I'm done.
	Okay, so let's start with the first one.
	I just want to say, guys, like the video.
	We got almost over 2,000 of you guys in here.
	Obviously, it's Money Monday.
	People don't care so much about their finances and taxes.
	So guys, do me a favor.
	Like the video.
	Let's get the engagement up.
	Go ahead, Steve.
	Sorry. No worries.
	So you said you had a trucking business, if I'm correct?
	Correct. Okay, and that's set up as an S-Corp?
	Yeah, so I'm an independent contractor.
	I'm not an owner-operator, so my boss owns the truck, but I have an S-Corp now because I make like over $100,000 just trucking.
	And he just gives you a $10.99?
	Yeah, give me $10.99.
	Okay, so what you do on that, you probably want to take anywhere from 25% to 50% of that and declare it as wages.
	Okay? For that, for that company.
	Because it's an S-Corp, and you can't file it with, there's line 7 of that 1120S, but that's the subchapter S-Corporation return.
	If you go to the front page, first page, all the lines, you go to line 7, it says officer salary.
	If that's a big goose egg, if it's zero, over time, the IRS is going to retroactively get these people that are doing, you know, they have their...
	Profitable, making money on subchapter S corporations and not paying them something.
	So what I do, I backdoor it.
	I have a way to backdoor it.
	So what you can do, this is a backdoor if you don't want to do payroll and it's just you, okay?
	There's a little trick.
	What you can do is on line seven, I put an amount in there.
	So maybe I'll put $30,000 in there, okay?
	And then you tell your CPA that's doing this, they just...
	Put me $30,000 because I didn't file the quarterly returns.
	I didn't pay in the payroll taxes, not only to the federal, but the states.
	But what he'll do is, in turn, he'll open up a Schedule C of your 1040.
	Now, normally I don't file these, but this is the only reason I would file it.
	You put that $30,000 as income on a Schedule C coming from the corporation.
	And then that calculates self-employment tax, so you pay your FICA, you pay your 15.3% Social Security, and the IRS will leave you alone.
	And then you get around not having to do the filing on the states.
	I don't highly recommend it.
	Typically, I'll tell people, just set yourself up for a cheap payroll service, get paychecks or gusto or something, just easy, where you just pay yourself a certain amount a month, once a month, to calculate the taxes, and just get something that's going to file.
	The payroll tax returns for the state and for the federal every quarter on time and submit the money, the taxes on time, because those penalties are steep.
	And then if you don't file it on time, you don't pay the money, and then you have a problem with paying a lot of penalties on the payroll taxes.
	But a way to avoid it is you can tell your accountant, like if you're not set up for the year, just say, hey, I want to allocate, you know, on line seven, you know, I talked to Steve from accounting.
	He said, But this $30,000 here, whatever it is, on line 7 of my subchapter S corporation return as officer salary, and then you pick up that $30,000 again on your 1040 of your Schedule C of your 1040 just as income.
	And don't take any expenses on that Schedule C. I don't want any expenses.
	Just report that because you want that to get hit with 15.3% straight up.
	So that's a little hack.
	What's that last part?
	I didn't get all that.
	Don't take any expenses?
	What? You don't, so that you tell him, I'm not taking any expenses.
	Like, he's like, oh, you got a phone, you got internet, you got home office.
	No. You just put that $30,000 in there as income as a Schedule C with zero expenses.
	Awesome. He'll understand.
	If he's a good CPA or EA, he'll understand what you're talking about.
	He's like, okay, that's a good idea.
	That's how you get around not having to do the quarterly payroll tax returns.
	All right.
	Good question, one chest.
	Who's up next?
	Yes, we have 8563.
	You are up.
	8563. All right.
	8563, go ahead.
	And we're going to get ready to wrap up here somewhat soon so that we can do after hours, of course.
	Chris hasn't walked in yet.
	And also, obviously, Steve has stuff to do.
	But go ahead.
	Who is this?
	8563. 8563.
	Go ahead.
	I also signed a petition.
	Nice. Thank you.
	Thank you, Mo.
	8563. Go ahead, bro.
	You're on the line.
	He left.
	I guess he left.
	He just left.
	I can't hear him.
	He'll probably call back in.
	He just left.
	All right.
	Again, number, guys.
	646-490-0394 is the number to call.
	Welcome to the Nigga Ramsey Show, where we answer your guys' questions.
	You got a tax professional in the house.
	W-Joke with comedians.
	So, who else?
	Who's up next?
	9301, you're up.
	9301 or Super Chats, either or.
	Hello, hello.
	Can you guys hear me?
	Yeah, we got you, bro.
	What's up?
	Sweet. Yeah, I'm just a big fan.
	My question is pretty open to all of you.
	I'm currently 18 and live, like, north of Toronto.
	I was just wondering if it's like a good or bad idea if I move out with two of my close friends who have a very similar mindset on life and on money and that type of stuff in general.
	We all work in like the same industry and we want to try to move out.
	What is your industry?
	Sales. How much do you guys bring in a month together?
	Together? Or how much do you bring in?
	How about you?
	How about you?
	Just you individually?
	8,000 Canadian, which is like 6 US, I think.
	You bring in 8,000 a month by yourself Canadian?
	Yeah. But it's commission-based sales, right?
	Yes, but I run the company.
	It's my own operation in a way.
	Alright. I mean, do it, bro.
	The only thing I would say is, you know, Just have something to fall back on, like some kind of, you know, skill set, maybe a blue-collar trade or something.
	But if you guys are making that kind of money, I mean, just you by yourself, you know, that wouldn't be a bad idea.
	I mean, you're 18 years old, which, you know, you're very young, but to be making that kind of money is great for you.
	You're killing it.
	I mean, Steve, what do you think?
	I mean, Canada is a bit different than America, but...
	Yeah, it's highly taxed.
	Are you thinking about getting out of the jurisdiction and moving somewhere else, or does it sound like you wanted to leave?
	No, I would just essentially be moving out and just renting downtown.
	Because I live in like the suburbs right now.
	Like maybe half an hour out.
	I mean, is it beneficial?
	Is it for lifestyle reasons or is it beneficial for your business?
	Is it going to put you closer to where you can grow your business?
	Yeah, it's just for bitches and drugs, bro.
	Like, no.
	You know what I mean?
	I have a feeling that you guys are going to want to go there and just party and do dumb degenerate shit.
	Let's say your friends leave the apartment for whatever reason.
	Are you going to be cool with paying a billiard by yourself?
	If you got to pay by yourself?
	Would you be cool with that?
	The rent?
	Probably not, honestly.
	No. Yeah, bro.
	So you got to make sure they're vetted, bro, because holy!
	Not only that, but I think living with them.
	I don't know, dude.
	Living with people is way different than hanging out with them.
	All their annoying-ass life habits are going to come out and you're going to get annoyed and pissed off with them and they could fuck things up, bro.
	If you are going to leave, I think it's probably best to get your own place.
	But honestly, dude, you're 18. Why not just live with your parents and save as much money as you can unless there's going to be some kind of benefit to you moving the city?
	I'm just keeping it real.
	You guys probably want to be degenerates and go there and party in Toronto.
	That's probably what y'all niggas want to do.
	Yeah. Yeah.
	I definitely see your point.
	Sorry, I just thought, especially as a young man, I guess the earlier move out, it kind of just helps me grow.
	It does.
	If you guys are going to go there and be degenerates, which I anticipate that's what you guys are going to do.
	You know what I mean?
	That's going to fuck you up.
	Because what's going to happen is, this is what's going to happen.
	Anytime guys move to a new city, they move to a new city, they start going crazy, they start doing drugs, they start drinking, they start partying, etc.
	That messes up your ability to make money.
	You stop making that money.
	And then you have to move them back with your parents all the time anyway.
	This happens all the time to people that come to Miami.
	They come here and they go wild and they lose their money and they blow through in a couple months.
	Because that same discipline that got them there, they no longer exercise and want to get into the major cities.
	So, look.
	If you have faith in yourself that you're going to be able to come in and not act like an idiot, cool.
	But I don't know, man.
	It seems to me like you've been making this money living with your parents.
	I think you should be straight, you know, staying there and getting shit done.
	Maybe every now and then you could go visit the city with your friends.
	But I think you should really, like, focus on saving as much money as you can and really having something solid before you decide to move out, especially when there's all that kind of temptation in Toronto where you guys more than likely are going to be degenerates.
	Yeah. And roommates, let me tell you something.
	It's fun for a little while, but then it gets old real quick.
	And then you want to kill each other, and then somebody who's going to leave you, hanging with the rent, whose name's going to be on it, and that could be a whole freaking mess and try to unwind.
	It could ruin your business relationship and your friendship.
	And your credits.
	Fuck up your money and your credits.
	So, like, really think hard about this, bro.
	Just save money, man.
	You're young.
	Save money.
	You're going to be going out partying, spending money drinking.
	That $8,000 is not going to go very far in Toronto.
	Not the cost of living over there.
	Yep. Good point.
	Yeah, you guys do bring up really good points.
	I appreciate you guys.
	I definitely won't rush into this type of decision.
	But yeah, thanks for everything you guys are doing.
	No worries, man.
	All right.
	Take care, guys.
	No problem.
	Who's up next?
	We have...
	Yeah, and around in Toronto is really high.
	Yeah, it won't go very far.
	Okay, we have 4430.
	4430. Yo, 4430, go ahead.
	Hey, gentlemen, how's it going?
	What's up, bro?
	Good, good.
	Hey, so I just have a quick question for Steve.
	I'm currently a senior accountant in government, and I'm pursuing my master's of accountancy in graduate school.
	I plan to obtain my CPA designation, and I'm sort of exploring which path might be the most rewarding, both professionally and financially.
	I'm considering options like transitioning into public accounting.
	I know that industry is big in my area.
	I know there's also the opportunity to gain experience at a CPA firm with the long-term goal of starting my own practice.
	So I just appreciate any insights or advice on which direction might offer.
	The best opportunities.
	So you said you're going to get a master's in accountancy.
	Are you thinking about, is that something like in the governmental position that will help you, you know, move up the ranks and make more money?
	Well, you know, I'm not really interested in staying in government.
	You know, the point of getting my master's in accountancy was so that I had enough credits to sit for the CPA exam.
	So once I obtained that, Probably like to go ahead and branch out from government.
	I've sort of hit my peak.
	The only step up for me right now would be to enter some sort of managerial role.
	And typically in government, that's not available because they're typically there until retirement.
	So for me, I'm just sort of looking into what direction I can kind of head in where I could sort of take the next step of my career to the next level.
	I just know that it's so broad and there's so many different industries, whether it's audit or tax.
	Maybe you could provide a little insights onto what you might have just seen in the industry on what might be the most rewarding.
	Are they paying for your classes, by the way?
	They're not.
	I just, I basically had to save up while working here the last five years while getting promotions to basically save to pay for graduate school.
	That was probably the only downside in government.
	What kind of work do you do specifically for the government?
	What are you working on?
	It's mainly It's a function of both just accounts payable and accounts receivable.
	It's not so much of your typical industry where you have month-end close.
	We have a year-end close.
	So I really wanted to try to maybe branch into industry to kind of get more of that full-cycle experience.
	I just don't really know if that's best in a corporate setting.
	How much do you make?
	Yeah, I'm sorry?
	How much do you make?
	$82,000.
	Okay, so a CPA firm is probably going to pay you around the same amount.
	That's pretty good, actually.
	And you're not even done with your schooling, right?
	I'm not.
	No, I still have about half a year left.
	So upward mobility, yeah, your income level will skyrocket once you get your CPA and then you have your master's too as well.
	You know, you're talking about you could probably make over $100, $150 or whatever working at a CPA firm.
	Yeah, you're kind of, like, doing some very mundane, very, you know, like, you're not being, like, utilized, you know, to your full, like, intelligent level in that capacity.
	It's, you know, but you're getting paid decent.
	Yeah, so, you know, it sounds to me like you got the right idea.
	You know, yeah, get that.
	You know, get your classes in, get your credits, sit for the exam, work for a public accounting firm because It's very wide, you know, and I would do like maybe like a regional.
	If you can get it with one of the big, the top ones.
	I did that for, you know, for the first five years.
	I did KPMG, but I was lucky enough to do audit and tax.
	So I had the rotation in there, and then it was like, it was just kind of like finishing school, polish, you know, polishing school.
	And then I started working for regional for a little while, and then I did my own thing.
	But, you know, depending on what you want to do.
	You know, you have those two options once you get your CPA and you start interviewing and see what offer comes next.
	But any one of those CPAs, if it's a large regional, that's good, or it's going to be one of the, you know, one of the big guys like Ernst& Young or, you know, Pricewaterhouse or KPMG or something like that.
	Try to get into one of those two as well.
	Awesome. No, yeah, I really appreciate that feedback.
	Yeah, absolutely.
	Cool. Thanks, guys.
	No problem.
	All right, man.
	Rumble's good, right?
	Cool. Oh, it was lagging?
	Oh, is it fixed now?
	Okay, cool.
	Alright. What do we got next?
	We can do another one?
	Yeah, we can.
	Alright. 3818, you are up.
	3818. Go ahead.
	Hi, Steve.
	Hi. Fresh, how's everybody doing?
	Good, good.
	I had a basic question about my tax return for my 2024 taxes.
	So I have a 401k that I contribute to, and so does my company.
	I believe on my tax return when I filed them through TurboTax, I put it as an IRA.
	There was three options.
	I think it was three options.
	The IRA, the 401k, and then I'm not sure what the third option was, but I'm wondering if I selected the wrong option, will that have pretty...
	Yeah, that's wrong.
	I'm sorry to tell you that.
	Excuse me.
	Your W-2 that you got from your employer already included that in there.
	So when you put the data in from your W-2, it should have had this screen that looks just like your W-2 and you put all that data in.
	That's all you had to do.
	So now what you did is you said that you basically made a contribution.
	So now they have your 401k and now what you're telling them is that you also made a contribution to an IRA.
	And then they're not going to get the form from the bank where you put that money in or the money manager that you put the money into, you know, in the custodial account.
	So you'll get a notice on that.
	So you can do amended.
	Just amend it.
	And your TurboTax should have a 1040X.
	You need to go in there and then you say that you need to amend it and take that out and then refile it.
	Okay. All right.
	Sounds good.
	It sounds like I got to go back and do some work then on that.
	Yeah, because what happened is by doing the IRA, you got your income, not only now you got that 401k, because let's say you made $100,000 and you put $10,000 away for your 401k, right?
	So now you're getting only tax on 90. But if you took the $10,000 and you said you did an IRA for $10,000, now you're getting only tax for $80,000.
	Now your tax liability is less.
	So now you got to go back and bring it back up to the 90. Recalculate your liability and pay the difference.
	And do that sooner than later because the longer you wait, you're going to get the notice and then you're going to get interest penalties on it.
	Gotcha. Yeah, that makes sense.
	Okay. Yeah, I'll definitely jump on that.
	It's an easy fact, but just do it now so you save yourself the headache later.
	Yeah. Yeah.
	Okay. All right.
	Thanks so much.
	That was my question I had for you.
	Appreciate everything that you guys do.
	Been listening to you guys for like...
	Three years now.
	Awesome. Yeah, I appreciate everything you guys do.
	All right, brother.
	Thank you.
	Who's up?
	Should we read chats or calls?
	We can do chats.
	Okay. And Steve, let me know, what's your...
	Steve, I know if you got it going, just let us know.
	No, I'm good.
	I'm done.
	I'm done.
	So tomorrow, I'm only going to work a half a day.
	Anybody that drops into my office tomorrow is going on extension.
	They're saying, all right, thank you.
	I just got the staff there.
	I'm taking my boat out tomorrow, honestly.
	Today's my birthday.
	Oh, shit.
	Oh, wow.
	Yeah, so...
	April 14th is my birthday.
	So I never get to really celebrate it.
	So I'll celebrate it tomorrow.
	Okay. There you go, man.
	Yeah, we're good.
	We got everything done.
	I got a great staff.
	I'm blessed.
	I got good people that work for me, and they really make my life a lot easier.
	Holy shit.
	Okay, man.
	Good stuff, man.
	All right, so we won't hold you on here too much longer then.
	So TPZ Films says, Hello, Steve.
	I want to say may God continue to bless you and your family, and thank you for all your knowledge.
	But for people who are getting the realtor investment world, such as myself, into the realtor investment world, such as myself, before dependence and being a 100% disabled veteran, Who or what program would you use to file your taxes?
	Also, welcome back, Fresh.
	Let me know when you want to get your camera and lighting set up on point.
	Oh, yeah.
	Yeah, yeah, for sure.
	They need some help over there at the Fresh Start.
	Well, no.
	305 Podcast.
	That's not Fresh Start.
	Is that what it's called?
	Yeah. Nigga, you're confusing everybody.
	No, nigga.
	They said 305 Podcast.
	It's the 305 Podcast.
	It's the 305 Podcast on the channel of Fresh Start.
	I'm just airing out my channel.
	That's all.
	Nigga, it says that on the podcast.
	305 Podcast.
	It's not Fresh Start.
	It is streamed.
	You can't read?
	No, bro, it's confusing.
	I'd say everybody confused.
	It is streamed on the channel.
	Yeah, on the channel.
	A fresh start.
	Yeah, that's all.
	Oh, man, that is confusing, bro.
	Okay, well, either way, they will help you with, he's saying he'll help you with the lighting like they did with my stuff.
	And then he said, mine is always WStream.
	So I think the question he's asking here is, can you see the question too, Steve, or no?
	Yeah, yeah, yeah.
	So I think he says, you know, what's the best, you know, it sounds like he's got a straightforward taxes.
	He wants to, you know, want to, you know, DIY it.
	So, you know, TurboTax is fine.
	You can get TurboTax.
	It's cheap.
	You download it or whatever.
	But H&R Block has an easy one, too.
	You get on there, too, and there's this decent.
	It's probably a little bit heavier weight than the TurboTax.
	It's not, you know, TurboTax sometimes has a lot of these screens that are just overcomplicated and it'll ask you the question, you know, the same question in five or six different times.
	I think H&R Block is probably a little bit more straightforward.
	So that would be my preference if you got just a simple couple of tax forms to file and just doing this, you know, really cheap.
	Sometimes it's free if you only got a couple of forms.
	Okay. Cool.
	All right.
	Who's up next?
	This one, he...
	The way of Vic.
	Okay. Hey, gents.
	I can't call right now because of work, but I have a quick question.
	My mother has an ITIN number.
	But we are unsure what this is for.
	What is she supposed to file with this, and what can happen if she doesn't file?
	ITIN number.
	Yeah, so an ITIN number is identification tax ID number.
	That's all it is.
	So we used to get those back in the day for people that were maybe not legally able to work.
	They were here maybe on a special type of visa, but it wasn't like a work visa or something like that.
	And they needed that number to file something.
	I don't know why.
	Somebody must have gotten that for her.
	It's easy to get.
	And it's just, you know, it's just an assigned number in case that she wants to file some type of tax return.
	Typically, you do that maybe like if it was like a foreign...
	People coming in, let's say they're from England and they're not residents of this country and they buy a property here and then they sell that property.
	So now they have to apply for an ITIN number because the IRS needs some way to track them as a taxpayer here, even though they're not a resident or a citizen or legally, lawfully able to be a worker here.
	So that's kind of what it is.
	But I don't know, without any further details as far as what your mom's situation is or what her residency status is, I couldn't tell you.
	All right.
	Who's up next?
	We can read chats, yep.
	We got another chat here, and then...
	And again, guys, just so you know, we have the petition at the top of the description, guys.
	Please sign a petition.
	Let's get over 2,000 signatures on there for Steve.
	Get justice for Steve and his family.
	The fact that he's even on here, you know, obviously answer questions and taxes, you know.
	And it's his birthday as well.
	It's his birthday.
	He's here.
	Obviously grieving as well with what's going on with his son.
	But, you know, business is business is here helping you guys regardless of what's going on in his personal life.
	And obviously, you know, this happened years ago.
	And he's never asked for anything from us ever, man.
	So if you guys can just do us that favor, it's completely free.
	Please sign a petition.
	It's below to get justice for Steve and his family to the POS that murdered his son.
	And I'm going to say murder because it wasn't self-defense whatsoever.
	So, guys, please sign that petition so that we can go ahead and get some accountability and get justice for Steve and his family.
	We got, he don't love you, says, Steve, my condolences.
	I'll become an owner-operator for trucking.
	I will pay for my own fuel insurance, maintenance, and weekly payments for the truck.
	Am I able to write that off?
	Absolutely. Every single bit of it.
	Awesome. Awesome.
	Cool. One more?
	Okay, cool.
	One more, and then we can take maybe one more phone call for Steve?
	And then, or...
	All right.
	Super Javi.
	Okay. Hey Steve, I haven't filed my taxes for 23 and 24. Can I still wait until next year for penalties?
	I had a 1099 and W2 jobs, two jobs in brackets, made 100k in 23. So I know I'm going to have to pay money back.
	So, I mean, I don't know why you wouldn't want to wait.
	The penalties aren't going to be what the penalties are going to be.
	Excuse me.
	But the interest will accrue.
	So that's going to get higher.
	So the sooner you file, the easier it's going to be for you.
	I don't know what the strategy would be to wait.
	Okay. All right.
	All right.
	And the link is in the top of the description, guys, to sign a petition, man.
	Obviously, Steve's giving you guys a lot of value.
	The only thing we ask in return is that you guys sign a petition and get justice.
	Do we have any other people paid on the phone call?
	One more?
	Let's take the last phone call.
	Man, lots of good questions asked today, guys.
	And don't worry, the timestamps, guys, we're going to put the timestamps.
	Each question will be there because I'm sure a lot of you guys have similar questions.
	And then we'll close out.
	6486, you're back up.
	All right, somebody called in early.
	Can you hear us now?
	6486. Hey, what's up, fellas?
	You guys hear me?
	Yeah, we got you, bro.
	Welcome to the show.
	Okay, right on.
	Sorry about that.
	Fresh and Fit, thank you, guys.
	Steve, thank you, guys.
	I just wanted to ask, I recently opened the LLC and I tried applying for a credit card and I was denied and they said it was due to lack of history.
	Do you not have a personal credit card?
	No, I don't.
	My 20s, I fucked up my 20s.
	I didn't do much.
	You're going to need a personal credit card first, bro.
	Because what's going to happen is...
	To get that first business credit card, they're typically going to want to go off of your personal credit most of the time.
	Probably what's messing you up.
	I mean, Steve, is there anything that he could do here besides getting a...
	No, actually, you know, and here's what I'm going to add to you.
	You know, I've never seen a person more skilled at credit card handling and getting accounts than Myron, actually.
	And I've had a lot of experience with this.
	So I got to give kudos to that, and I think you're an expert in that area.
	So I would always defer that.
	Yeah, bro.
	I think because the first business credit card, man, a lot of the times is going to be based off your own personal credit.
	And if you don't have personal credit, it's going to be very difficult to open, bro.
	So what I would say is here's the thing.
	It's not that hard to get a business credit card.
	Just start your personal, man.
	Get yourself up to the 700 range and you should be okay to get approved for like a lower level business credit card.
	All right.
	I watched you guys' videos on the hacks of using other people's business line and stuff.
	You know what?
	We'll call it now.
	Next Monday, we are going to do a how to get your credit started with a low to no how to get started.
	And that'll be the first of the credit card series for 2025.
	We haven't done it yet for this year.
	So next Monday, we'll do that for you guys.
	You guys hear it now.
	Next Monday, we will do a how to start on or get your credit on point if you have a low to no credit score.
	Yeah, we did do a show with doing that hack.
	And I'll tell you guys, I'm going to tune into that show because this is good advice that I can give a lot of the youngsters that are around me in this area over here, some of my clients.
	So yeah, I'm going to be tuning in.
	Good stuff.
	Repeat that again?
	The title?
	Thank you guys.
	It's going to be, for next week, it's going to basically be how to get your credit started with basically zero to low to no credit.
	So it's going to be for people that have no credit, people that have low credit.
	Or maybe even medium range.
	Beginner type stuff.
	And we're going to talk about strategies to kind of get your credit card.
	I can't see you, bro.
	Your credit card is probably really low.
	Your score.
	So that's probably what it is, bro.
	So we'll do that next week for you guys.
	Cool. Steve, where can I find you, bro?
	So at Seeing Beyond the Numbers, go into my bio and hit the link in there.
	I've got the free giveaways.
	It's going to take you to the steps of what to do.
	If you want to qualify to get a one-on-one with me for one hour, I'm giving three of those away only to the Fresh and Fit guests here.
	And I specifically put these free giveaways for you guys.
	So I got it in there.
	If you want to do your extension tomorrow, if you've got a company, you didn't do it yet.
	And if you get penalties, get here.
	I'm going to read it.
	Just go to that.
	Just file your taxes.
	If you don't know what you have to pay, just try to estimate it.
	Do 110% of what their total liability was last year for the 2023.
	It's called a safe harbor.
	But if you don't have the money, there's a way to, when you get the money, file it later.
	And you can get what's called a first-time FTA, first-time abatement waiver.
	And I walk you through there.
	I give you all the templates how to do it.
	And once you get the Penalty letter, go to that link in there and figure out which one applies to you.
	Pull out the template, fill it in, and send it to the IRS along with the notice, and they'll waive the penalties.
	Not the interest, but they'll waive the penalties, which could be substantial, especially if it's an S-Corp or if you have, you know, underpayment penalty in there, you can waive it.
	You get what's called a first-time mulligan, typically every three years.
	But you have to be in compliance.
	Like a lot of these guys, they haven't filed in three years.
	They're not going to qualify.
	But if you filed every year, And you haven't had any substantial penalties in the previous three years, then you qualify automatically.
	All right, man.
	This was a value-loaded episode.
	Steve, thank you so much for coming.
	And guys, one more reminder.
	Please sign the petition below.
	Let's get over to 2,000.
	Get some pressure on the sheriff's office to do their fucking jobs and get justice for Steve and his family.
	At least.
	And thank you so much, Steve, for coming on.
	Yeah, we're supposed to be having a meeting with the sheriff's office.
	I wanted to give you an update this week.
	Awesome. Yeah, we're staging a demonstration this Friday.
	We're still keeping the pressure in.
	I just did another media interview today.
	There's another article that came out.
	A lot of stuff going on.
	So I'll keep you guys apprised and posted.
	And I really appreciate you guys giving me this mouthpiece here and using your platform.
	I can't thank you guys enough.
	I really appreciate it.
	Anytime, bro.
	And we'll mention it on our after hours as well for everybody.
	Thank you, Steve.
	Steve, thank you so much for coming on.
	It's your birthday and obviously your morning and you're still here.
	I ran,

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