Fresh & Fit - How To Build Wealth With Trump's Big Beautiful Bill

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Sept. 15, 2025 - Fresh & Fit

01:38:16

How To Build Wealth With Trump's Big Beautiful Bill

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	All right, and we're alive.
	What's up, guys?
	Well, to the Friendship Podcast, man, regular edition.
	It's Money Monday, guys.
	And uh we got a banger for you guys today.
	We got Steve on the line.
	He's actually coming in via Zoom remotely, and uh we're gonna be talking about um the big beautiful bill and how to capitalize on this um given that Trump's gonna be in office the next couple of years and um how a lot of you guys can kind of use this to your advantage, because you know, with as with the first administration, there are a bunch of benefits that came out, especially to people that are more entrepreneurial-minded that you can take advantage of that.
	A lot of people don't know.
	Now, you know, quick little background on this bill.
	This bill was passed, what, maybe I think a month or two ago, and the bill is very comprehensive.
	It covers everything from border security to fighting crime to um, you know uh, you know, reforms when it comes to the welfare system, a whole bunch of stuff.
	But there was a bunch of stuff in there from a tax perspective that can help a lot of you guys out if you decide that you want to, you know, start a business or start investing in certain assets, etc.
	Um Steve's gone through the bill, knows it pretty well, um, and he's found a couple of things that you know I think we should bring to your guys' attention uh that you can utilize to kind of leverage um you know yourself here to make some more money during this administration, as you guys know.
	Um last side trouble was in uh was a good time to be an entrepreneur, then Biden came and messed a lot of that stuff up.
	But now he's back in office, and we can definitely use um some of this new legislation to your advantage.
	Um we got Steven, for those of you that don't know, Steve, he is uh our accountant.
	But Steve, I'll let you kind of take it from here and introduce yourself to the people real quick.
	Hi guys, hey, thanks for having me back on.
	Um yeah, so uh, you know, I've been doing your guys' taxes for I don't even know how long, well, at least uh five, six years since you guys started the show.
	Yep.
	Um but um yeah, so today's a big day.
	I don't know if you know uh a lot of your listeners have uh LLC partnership or uh or uh S corporation, they had to file it if they extended today.
	So today was a big day.
	Uh we were pretty busy at the office doing some last minute returns.
	Um and the thing to know about that is if you didn't file today and you're an S-corp, um, you get penalized basically for not filing.
	Even though you you may not have owed taxes just for not filing it, you're gonna get filed, and it's pretty substantial.
	I've had taxpayers that you know missed the deadline come in the next year and say, you know, I didn't file my taxes for last year, and then they wind up getting uh hit, you know, with with a couple thousand dollar penalty because it's like a two hundred and uh I think it's like two hundred and forty-five dollars per partner or per shareholder on that S-corp per per month.
	So if you were supposed to file that September, you don't you know file it for six months, you could do the math on that.
	You know, that's like 250 bucks per month, and uh it adds up pretty substantially.
	So um I have a way, you know, if it's a first-time offender and they you know they did it the first time, whatever, we'll do a first-time waiver for them.
	And a lot of times the IRS will, you know, forgive that.
	Um, but if you know it's a second year that they're you know doing that, then you know the IRSS says, hey, you know, we'll we'll give you one mulligan, um, but you're you don't get it, you know, this year.
	But yeah, so like as you mentioned, you know, this this um one big beautiful bill that Trump passed with Congress um a few months ago, it was actually July 4th, it got passed.
	There's you know uh a lot of sections in there, but there's a section there that's pretty good for the new tax um updates.
	So basically, um you know the uh 2017 was the last major bill that we had, and a lot of those tax provisions in that bill were set to expire this year in 2024 or 2025, I should say.
	So um a lot of them got updated.
	So on for general knowledge purposes, the tax rates in 2017 were dropping about one to two one to three percent across the board for all different types of taxes and tax brackets.
	That's gonna remain.
	That's the good news.
	The other good news is um for small businesses, and the reason why I'm talking about small businesses, not only because it's what we you know, what we focus on, but you gotta remember more than 90% of uh business uh in in the US is small business.
	That's you know pretty much what our GDP is comprised of.
	Um nearly 50% of the people in our country are employ are employed by small private businesses.
	So um that's pretty substantial.
	Sixty one million people um is pretty big.
	So the second biggest employer after the government, right?
	Is the summer.
	I'm sorry, go ahead.
	Small businesses are probably the second biggest employer after the U. Federal government, right?
	Yeah, yeah, 46%.
	Okay.
	40%, nearly 50% of our, you know, um, and near um, you know, sixty one sixty-one uh million people are um employed, you know, through that.
	So and it's it's nearly uh fifty percent of our GDP.
	70% of our tax revenue that the government uh you know, the IRS uh uh collects comes from small businesses.
	So it's it behooves us to pay attention to these laws if you're a small business owner.
	You don't have to know everything through and through.
	Just get a good CPA that you know can walk you through it, you know, and and it can work with you, um, such as you guys, you know, work with me and just keep you updated on those things.
	You know, it it it pays to have uh you know a knowledgeable tax guy.
	Don't try to go in alone when you get a business, you know, just pay just pay the money because you're gonna save more on taxes than you are, you know, trying to keep up with the tax laws and trying to do the forms yourself and and and uh you know the opportunity to to take advantage of the tax the tax you know laws and the in the code.
	Um leave it leave it to a professional, you know, that it really pays to get somebody that knows what they're doing.
	So no turbo tax.
	Um sorry, say that again.
	No turbo tax.
	No turbo tax.
	Yeah, you know, oh my god, I couldn't tell you how many times we've got people coming in trying to do the business taxes.
	You know, it's one thing if you got a W two and maybe a couple, you know, you know, maybe a couple of W twos at the most, you know, yeah, just use, you know, that's fine.
	Turbo tax is fine or H and R block or whatever.
	You know, but once you get into doing, you know, having your own business, you're gonna want somebody to help you out, get your books straight, you know, keep a separate bank account for your business so you could track your income and your expenses.
	Um so you know, just wanted to add that in there.
	But yeah, so this bill, I wanted to go over maybe like three, four major things for you guys, and then you know, could open it up to maybe look at a Q and A. Yeah, yeah.
	So yeah, guys, we're gonna go over this stuff.
	Um, you know, and then we'll cover the basics and then obviously we'll open it up for QA so that you guys can ask whatever questions we're gonna open up the phone lines for you guys as well and uh take super chats in.
	So you got our accountant on the line, guys.
	We're gonna bring Steve on more often for these money Mondays.
	I think um, you know, that can provide you guys an enormous amount of value, answer a lot of your questions.
	Um Steve also has a pretty good background in real estate investing, um, fixing and flipping, a bunch of different stuff.
	So um accounting isn't just isn't his only expertise, guys.
	So also um the guy do what to buy if your business uh legally to reduce taxes and does a lot for you.
	Because if the more money you keep the better.
	So yeah, so we're gonna have Steve on these uh a lot more guys to give you guys even more value and have a tax professional on almost one every one of these calls.
	So we got y'all, man.
	Uh I told you guys we're gonna obviously increase the value and give you guys more, and that's what we're gonna do.
	And uh yeah, but yeah, go ahead, Steve, take it away.
	Yeah, so um, you know, I wanted to add, so you know, tell your guys, and I'm gonna I'll put it in the chat too, that um, you know, on my Instagram, I haven't been active, you know, probably over the past year.
	I've been involved with some personal stuff, which I you know, you guys are aware of.
	But um, so I've kind of dropped off a little bit, but I'm gonna start um um posting more content on there.
	And I do if you go on to my uh Instagram, um, go in there.
	I have a lot of free resources in there for you.
	I got a calculator for you guys that you know you guys you guys can go in there and see like, hey, if I if I started my own uh sub chapter as corporation, I have a calculator in there.
	It's pretty simple.
	You fill out like three or four pieces of information and you could find out pretty accurately, you know, it's not gonna be precise, but pretty accurately, you know, how much of a tax savings you would have by forming your own um you know, LLC and converting it to an S Corp.
	I have very uh inexpensive guys on there.
	You can do a call with me, you know, either 30 minute call or 60 minute call on there, you know, just um there but there are some free uh guides in there.
	So I, you know, I would invite everybody to go on there, join my page.
	I'm gonna be producing more content on there.
	Um a lot of times I try to do my best to answer DMs if for people that you know ask me a question through there, um, similar to this QA.
	So uh just feel free, you know, to to um go on there and uh, you know, see see what um resources that you you need on there.
	So um, yeah, just kind of diving into this uh this new bill or this updated bill.
	Um one of the big things that uh we were we were nervous about, you know, including myself, because I'm a I'm set up as a S Corp too.
	You guys are you guys are both S Corps as well.
	Yeah.
	So this, you know, this this hits home.
	Um there was a twenty percent deduction.
	So for instance if you had on your S Corp a hundred thousand dollar profit we were getting what's called a QBI that's a qualified business income tax deduction of 20 percent 20%.
	So if you had a hundred thousand dollar profit you would deduct 20% of that.
	So you would only have to report an 8000 dollar profit on your tax return and pay tax on the 80,000.
	So that was set to expire that got renewed and that's going to be a permanent he made it um Trump made it permanent so that's that's like that's like big yeah that's big that that and that only started with him and um 2017 and then now that's that's that's going to be um so that's a huge deduction um you know 20% right off the right off the top is huge.
	See what about the limit for cars for example the deduction from car I'm getting there.
	I'll get to that I'm gonna get to that's gonna be one of the things I'm gonna cover yeah and then that you're gonna you guys are gonna like this too.
	Oh and excuse me I misspoke it's not 20 not not only is it going to get renewed from it's not 20% it jumped up to 23%.
	So that so um yeah I I I misspoke there.
	So um that's that's gonna be one of the one of the big ones there.
	Now going into the um section 179 what the heck is that right?
	So when you have a business and you buy assets let's say you were a content creator and you buy computers you buy um you know um cameras you buy um lighting and so forth uh you we have what's called um typically you would depreciate that what is that well you take the useful life of that equipment maybe it's five years maybe it's seven years and you would take you know if it's a 10,000
	dollar uh piece of equipment or let's say it's five thousand dollar piece of equipment you would depreciate that over five years so you only get a 1,000 dollar deduction for the every year for the next five years.
	Well section 179 um you could as long as it's uh it's it's used in your business for over 50% you could deduct uh 100% of that um whatever the cost of that is um as long as as long as it's used for business and um so that went from uh uh bit small businesses which you know I know it's a big number and it's still considered small business in the eyes of the US but we had a cap of uh up to 1.25 million dollars of any type of
	business equipment that you would buy that you could expense 100% of immediately that went up now to 2.5 million they doubled the cap on it so that's major you know you know and of course with inflation or the price of everything um has gone up so that's that's only appropriate I think so if people want to buy equipment you know uh or they were looking at getting something more expensive higher end or whatever um they can probably do that over the next couple of years correct yeah correct so that's that's that's jumped up to cap
	I know a lot of businesses are going to be in that, including myself.
	I'm not in that category where I'm going to need that much equipment.
	But there are businesses.
	There are construction companies that they need to buy heavy truck equipment.
	Brick-and-order companies that still operate a storefront and stuff like that.
	So that allows them to buy more inventory.
	And that adds up.
	It adds up very quick.
	So that's another one as well.
	Another one is the interest deduction for loans.
	So if you have, let's say, a small business administration loan, a lot of people do have those.
	And I see that a lot in my line of work.
	Although the rate right now is not the greatest, hopefully we're going to see the rates maybe at the tail end here this next couple of meetings we have here.
	They're going to drop down a little bit.
	So it's not ideal right now to get the SBA because the prime plus two typically is kind of high right now for that.
	But at any rate, the deduction for the interest, they used to have a 30% cap on it based on your taxable income that you were spending off.
	You can only deduct up to 30% of that.
	Now you can just deduct 100%.
	So that's a new one as well.
	Another one is going to be, you know, getting back to what Fresh was talking about is the vehicles.
	So now what we have, if you have a vehicle over 6,000 pounds, there was this thing called bonus depreciation, right?
	What is bonus depreciation?
	Well, that started in 2017.
	And in 2017, it was 100% bonus depreciation.
	depreciation so if you bought a vehicle that was over six thousand pounds um you could deduct you know if it was used used for business you could deduct um a hundred percent of it um and then in 2018 that went down to 80 percent and and so on and so forth.
	So that was set to like I think we're at 40% now.
	Um that was set to uh to sunset, meaning that was gonna expire.
	It's gonna go 180, 60, 40, 20, 0.
	But what they did now for next year for 2025, they jacked it back up to 100%.
	So for 25, 26, and 27, it's 100%, 100%, 100% for the next uh next three years.
	So 275.
	So I mean just out to your point here, um, Steve.
	If you get a car now, it's not a discount price.
	Prices are really down on cars, buyers have lowered.
	To get a car over six thousand pounds, and you add in depreciation, you can win really big on cars now.
	So that's uh that's really W. So would it be fair to say, because obviously we've been talking about the car market being trash and you know, for a very long time now.
	Would that be, I guess the only situation where buying a car would make sense now is if you have a business in a 6,000 pounds, that helps a lot of financially at this point.
	Yeah, it helps.
	You know, and I gotta I we know I'm I'm in Florida here, so we got a ton of construction.
	So this applies.
	I got you know, these owners are buying a new new, you know, huge heavy-duty truck every year, heavy-duty equipment.
	So as well.
	Yeah.
	Yeah.
	So this, you know, we've been doing a couple of episodes.
	And the reason why I say this is because we've done a couple episodes on like the car market and how it's a really bad idea to buy a brand new car nowadays or purchase cars in general.
	Um, but it seems to me, based off what you're saying with this, you know, bonus appreciation, it making a comeback, it seems as though if you're buying a car, one of the few exceptions is if you're buying a car for a business, over 6,000 pounds, then it can financially make a good amount of sense to uh to purchase it.
	Yeah, so let's say you know you have they say you have a two, you know, I it's easy to get to 250,000 profit these days on an S-corp and you're flowing that through.
	Let's say you have you know, you buy a truck, you know, 100,000.
	Um that you're basically you know cutting you know you know, cutting your your profit almost in half.
	And not only that, it's the purchase price, right, Steve, not what you actually put down.
	So that's really important for the audience to know too.
	It's based off the purchase price, guys, not what you put down.
	You know, and let's say you're at almost like a 30% tax rate.
	So you could do the math.
	That's a 30 $30,000 um deduction in your taxes that you're that you're just basically taking that 30,000 that you would have paid on your on your taxes, and you're putting it towards the car.
	So it's really costing you, let's say, 70,000, you know, in essence.
	It's costing, you know, you're you're instead of paying it to Uncle Sam, you're putting it to use for you.
	So um, yeah, that that's it, that's a big one.
	And if they cut rates uh this Wednesday, like they should, um, you're gonna get way better uh rates for your loans, and of course, uh prices will go up.
	So if you use that to your advantage, wait to buy a car, then for business, if you're a business type of person like a someone in finance, for example, someone that does like uh law meetings, get yourself a G-Wagon uh for a really good price, and of course, uh with the rates being lowered, shoot better for you as a as I as a business as well.
	It's pretty good.
	Yeah, yeah.
	Yeah, I'm seeing a lot of people just tight.
	Nobody's spending money, like you said, the caught the car market.
	It's kind of like you know, the same thing with the real estate market, inventory's going up.
	Um, you know, things are things are slow.
	So I think you know, the this this guy's gotta it's gotta lower the rates here because it's gotta get something stimulated in the economy before too long.
	So hopefully, hopefully uh this that's that's what we're looking at.
	Cool.
	Um yeah, going back to uh today.
	Today, so today's uh the 15th of September.
	So what happens is uh back in in uh March, March 15th was when the uh partnerships and the as corporations were due, right?
	So a lot of times people don't have their stuff ready, so we put them on extension, you get an automatic six month extension.
	Well, that's today.
	They're supposed to file, like I said, if you didn't file today, uh, you know, you you you're gonna get penalized.
	Um, but I have a hack.
	I'll have a hack that I'll share with your listeners, and I don't share this with everybody, um, including most of my clients, but I have a hack.
	So because I don't share this with my clients because I don't want them to know because I want to get their taxes done.
	I don't want their taxes to go out, you know, another six months.
	And then, you know, so um what I do is um, and this is for special occasions, uh we file a zero tax return just to get it in, and then we'll go back and we'll do an amended.
	So that eliminates so I'll I'll go in out, you know.
	So I I figured this out a couple years ago.
	I was talking to my sister, why the why the F are we like killing ourselves?
	So just file it.
	What happens if we do an uh zero return?
	Well, it worked.
	Um it's not illegal either.
	So um, yeah, so we did we uh we filed, you know, we probably did like maybe four or five of them uh today because you know we either were kidding get a hold of the tax guy or they're like, oh my god, you know, something maybe they're sick or something happened.
	So uh we went and just filed a zero return, and then you know, in a few weeks or whatever, when I get their stuff, I'll go in and I'll just file an amended.
	And it's all electronic, it's done, you know, pretty easily.
	So I just do a zero return just to get it in on the IRS, and then they're they're they're exempt from the from the penalty.
	So that's a little heck I'll share with your listeners.
	Um, but like I said, I don't like to tell all my clients this because everybody will probably be taking advantage of it.
	It's pretty good though.
	There you go.
	Nice little uh tip for people right there.
	Um okay, what what else?
	Is there any uh anything else you wanted to cover before?
	Um I think I thought that was kind of the major thing.
	Um Steve, can I can I one more thing as well?
	Oh, yeah, I have one last thing.
	I'm sorry.
	I'm sorry, one last thing.
	I know probably a predominant uh portion of your listeners are in Florida as well as we are, and you know, I I'm I'm as well.
	Um so for the two hurricanes last year, there was some relief.
	So if you know it's it's an extension of time to file, not extension of time to pay, right?
	So um I had some people that had to pay today, and um, you know, of course they were a little late, but what I did was I was able to wave some of their penalties using the you know, Hurricane Halena Hurricane Milton, but you gotta check your zip code.
	So you check your zip code, see if you're in the you know declared disaster area, and there is some waiver that you can get.
	It's all a little bit different on on some different types of taxes, but you can um waive some of the penalties uh if you paid late.
	All right.
	Wow.
	Okay.
	Uh so what we'll do, guys, is we're gonna open up the phone lines for you.
	Yep.
	Um while we open up the phone lines, Steve, can you quickly recap the three things uh or the the things that you had mentioned, real quick for those that are just joining in the stream, uh how people could take advantage of this uh big beautiful bill from a financial perspective?
	Sure, sure, sure.
	So um the the first major thing that we were gonna talk about was the uh qualified business uh income uh deduction.
	Um that was set to expire uh for the past since 2017, we were able to deduct 20 percent.
	So if you made a hundred thousand dollars, you take twenty percent right off the top, and you only report eighty thousand on your on your business income and uh you pay taxes on the eighty thousand.
	That is set to not only renew but also go from twenty percent to twenty-three percent.
	So it's gonna we're gonna jump up.
	So that's that's a great that's a great deduction.
	The other one is the section one seventy-nine deduction, like I said, you know, most business assets that you buy, you have to depreciate depreciate them over time.
	So if you got a ten thousand dollar piece of equipment and it's five, you know, it's five years, you would deduct two thousand dollars every year for the next five years.
	Using Section 179 expense, you could deduct a full amount of it.
	And then now the full amount in that in that year of purchase.
	Nice.
	And uh so that and then that went from uh, you know, you could only um buy up to 1.25 million dollars worth of equipment.
	Now they doubled it.
	So it's 2.5 million now for any you know small businesses that are in that league, you know.
	Awesome.
	Um and then uh the other one was the loan interest.
	So that went, you know, was capping it at 30% um of your of your taxable income, basically for the business.
	Now it's you can deduct the full amount 100%.
	There's no cap on it.
	And that's gonna be permanent.
	Um and then the general rates that were at 2017, they went down you know, across the board pretty much around one to three percent.
	Those are gonna stay in place now for 25 going forward until until uh probably you know 2027.
	Um the um what was the other one?
	The um I think I'm missing one.
	Card professional memory guys.
	Oh, the bonus depreciation.
	So that was set to sunset and go to zero.
	So specifically for cars over six thousand pounds, we could deduct a hundred percent.
	So starting in twenty-five, so for twenty-five, twenty-six, and twenty-seven, these the next three years, um, you can deduct a hundred percent of that vehicle.
	You know what's funny, bro?
	A lot of the uh entrepreneurs here in Miami, the young guys bought Lambo trucks thinking, oh, I'm gonna write off this car 100%, 40% whatever.
	And uh to their disappointment, it's only uh weight weighing in 4,800 pounds.
	Uh so they lost all the depreciation.
	Yes, and it's a luxury too.
	They got luxury limits on top of this, and you're like, yeah, so that's the guys buy a G Wagon if you're gonna buy a luxury car to fit your mold.
	Uh that's a classic car.
	But they need to have a business too, right?
	Like they can't be like some fucking yeah, you know.
	Yeah, you want yeah, of course, it's gotta be a little bit business.
	Some of these idiots are gonna be like, oh, I'm gonna buy this and write it off, even though I don't even have a business, right?
	It's like what the hell?
	Correct.
	So I think the last thing was the was the uh today's the last day to file your ass corporation return or your partnership return.
	So it's uh it's 1120 S is the form, and then the 1065 is the partnership.
	That was today if you extend it uh in March.
	Um and again, I was it's uh telling you guys that you know there's a penalty.
	If you don't do it today, there's a penalty.
	What you can do is um you know, file a zero.
	That's what we're doing.
	But you know, I know you know you you got till midnight tonight to do it, you know.
	So I don't even know, you know.
	I mean, a lot of these guys are a little bit late to the party here, so um, but if you have somebody that has access to file your return um electronically, all you really need is the name of your business, the EIN, the address, and then your social security number, name and address, and that's pretty much all you need to put on there, you know, the day because we got an idiot in the chat saying new BMW X5 is 4300 pounds.
	You can write 80 per 85% off.
	No, you can't.
	It's gotta be six thousand pounds to even qualify, dumbass.
	Bro, guys, like pay attention to the stream, please.
	Like, you know, guys like this pushing out this disinformation can really get some of y'all messed up.
	Because somebody might go ahead and buy a BMW X5 thinking that they can, you know, yeah, write that off and they can't.
	It's gotta be six thousand pounds, bare minimum, right, Steve?
	Yeah, that's a luxury car too, as well.
	Also, Alex, Lambrini makes Lamberini trucks, the URC's.
	Yeah.
	That's what they call them.
	So the lingual.
	Can you explain the luxury thing real quick?
	Uh Steve.
	Yeah, there's luxury limits.
	So it's pretty much around like, you know, you're not gonna you're not gonna get more than like the twenty-eight thousand dollars on a particular vehicle just because of the limits.
	It's gonna it's gonna make force you to use the five year um on it.
	So if the car is under six thousand, okay.
	If it's under six thousand.
	Okay, so if it's under six thousand, you you can't depreciate the full amount up to uh up front.
	Right.
	So that you like the G Wagon, the G guid's over six thousand, so it's considered heavy, heavy duty, heavy equipment.
	It's gonna consider like a heavy uh heavy piece of equipment.
	So that's the threshold is the six thousand dollar pounds, even though it is a luxury car, right?
	Um it's happening.
	Business, looks, girls, and tax write-offs, G Wagon is number one.
	Hands down, bro.
	In my opinion, yes, I totally agree with that.
	Yep.
	I have a lot of like that.
	I got I put a lot of my my uh doctors um into that.
	Okay.
	Yep.
	So but it does so for you to get the upfront depreciation, five years up front, you need it needs to be six thousand pounds.
	To get the the set um the bonus depreciation, six thousand pounds, yeah.
	And you write it off 100%.
	So for 25, 26, 27, that's the way to go, in my opinion.
	All right.
	That's superior.
	That's the superior way to go to do it.
	Okay.
	Um, so uh let's go ahead and open up the phone lines and answer some questions because I'm sure people have uh questions here on a bunch of different stuff.
	But guys, it doesn't have to be limited to the big beautiful bills, um, you know, tax uh benefits.
	It could be literally anything.
	Yeah, so I mean, you know, I don't I'm for any new listeners.
	Um I have background in uh in real estate, so I've I've flipped a lot of properties, rented properties, bought commercial properties, um, extensive family experiences.
	You were connected as the host.
	And that's uh that's just the phone line just opened up.
	You are now in the host room and can manage your callers from the Collins Studio Web Interface.
	I also owned um a large uh you know uh portable x-ray company in the state of Florida.
	I sold to a national.
	We did ultrasound, we did EKG.
	Um did that for like 10 years.
	Um so you know, I I'm an entrepreneur.
	Um, you know, and I've I've had my own CPA practice for you know, I've been doing this for well, well, aging myself here.
	Close to 30 years.
	Nice.
	Um okay, guys.
	So we got the phone lines open.
	You guys know the rules.
	Uh the phone number to call into the show, 646, 490 0394.
	Again, that number is 646, 490 uh 0394.
	Call into the show.
	If you guys want to cut the line, send it to Super Chat, FNF Super Chat.com, or you can rumble rant or um, you know, duh, I guess maybe gift the sub on kick, uh give subs on kick and then put the last four digits of your number.
	Um, and we will bring you to the front of the line.
	So however you guys want to get involved with the show and cut the line, those are the multiple ways.
	FNF Super Chat.com.
	Give the sub on kick um or rumble rant in and put the last four digits of your number and you'll cut the queue um and be able to get your question answered.
	And Castle Club.
	Um and Castle Club as well.
	Castle Club guys are gonna be prioritized as well for for you guys.
	Uh if you guys want to do anything on Council Club.
	Uh Castle Club is actually gonna be first priority um for questions.
	So go ahead, guys.
	You got Steve on the line uh with us.
	So anything you guys want to ask?
	It's not cheap.
	He is definitely uh worth the his weight in gold.
	And he's doing this for you guys money Mondays out of love.
	So shout out to him.
	All right.
	All right.
	Ready for the first phone line?
	Yeah.
	8033, you're up.
	8033, you're up.
	What's good, Myron?
	What's good?
	Fresh.
	Yo, what's up, Steve?
	This is the kid from Rochester that called last week.
	All right.
	Um, Steve, I got a question for you because I'm going to school for accounting.
	Um I'm looking to get my CPA and with this whole AI thing and outsourcing the India, etc.
	Do you think it's still worth it to just get my CPA?
	Um, or should I try to get a minor and like data analytics as well with uh everything going to technology side of things?
	Yeah, definitely.
	Um I think it's worth it, yeah.
	I mean, I think there's still gonna be there's still gonna be a need for CPAs, you know.
	I don't think AI is gonna out this is is gonna is gonna get rid of everything because there's a lot of um special procedures that need to be done that AI can't do.
	And you gotta remember there's many fr different fragmented systems that don't connect and speak to each other.
	So the data that you're going to have to col collect is gonna be from different um databases that are not connected.
	And there's so many different industries with so many different databases um that need to be, you know, that they're gonna have to be done by a human.
	So I think I think a lot of this is a little bit overkill.
	So I definitely don't I don't I do not see a future where um in you know in the force people's future within the next 10 years at least where you know they're gonna outsource some CPAs.
	No, I I don't I don't believe that.
	All right, all right.
	And then one last thing, thank you for that.
	Uh going through college, just how did you become as successful as you are now?
	Like do you have any tips to become a successful CPA and um really not just compete with people but dominate the field?
	Yeah, so um I worked for KPMG right out of right out of college and I did I was lucky enough to do a rotation in audits, which I hated by the way, but you know, some people do like it.
	Um and then I I did a rotation attacks, and I think you know that's for me where I felt um that's where it kind of like the the bread and butter was for for me going forward.
	So yeah, that's what I did.
	I got into the tax rotation and that that you know, so um if you're gonna work for you know, you're gonna get your CPA work for a firm.
	Um I had another guy too.
	He was actually in my in my uh my group too.
	Um he was a CPA up in New York too.
	I think he I think he went with Deloitte and Touch, I if I if I recall, and I told him, listen, you know, don't let him pigeonhole you into just one area, try to get a rotation in the tax department as well, get exposed to that.
	So um that would be my advice to you.
	Um also if you you know if take a uh take a review course, pay for the pay the money for it, you know, whether it's a Becker or uh one of the other ones, um, do that as well.
	Don't you know um just just make it easy on yourself.
	And um what what college are you going to for it?
	Uh so I went to Morgan State, which is the HBCU, and that that was a terrible school.
	So I came home and then now I'm at uh SUNY, a SUNY school in New York.
	I don't want to specific because which SUNY school?
	Here's what I say because people are weird on the internet.
	He knows outdoors somewhere.
	You don't want to say it's it's battle, you're not gonna find me.
	No, I went to RAT, so I was just curious, you know.
	Yeah, so shit, for real?
	Yeah.
	Well, so that's dope.
	And the people in the comments that are saying the stupid AI thing, I guarantee they don't have a job that's paying over 70k.
	I don't know if you can see it, but there's a saying like AI is gonna take it.
	But um Yeah, I appreciate it.
	I appreciate it.
	You were just the guy that I was looking at.
	I was watching uh a video and you were giving some good pointers.
	So I appreciate that.
	Thank you, Myron, thank you, Fresh.
	I'll get Hope you guys have a good night.
	All right.
	All right.
	Steve, just add on to that question real quick.
	If someone's getting into doing CPA work and accounting work, would you recommend doing social media as a marketing strategy?
	For example, giving tips.
	People information.
	Yeah, if they're hanging their own shhingle.
	Yeah.
	Yeah, absolutely.
	I think that that's gonna be, you know, obviously that that's kind of what you know to be an authority figure in the social media space is kind of where we're going towards.
	Yeah, as far as a marketing aspect is.
	Um, you know, you can't you can't, you know, you have to have some type of presence out there, I believe.
	Um so yeah, definitely.
	All right.
	All right.
	Who's up next?
	Um again, guys, number calling to the show is six four six four nine zero zero three nine four.
	Oh, okay.
	Um and uh, you know, you can either rumble rant in FNF Super Chat.com, uh get the sub, whatever it may be, um, and put the last four digits of your number and we'll get you in to ask a question.
	Um who's up next?
	5800, you're up 5800.
	You are up.
	Hey, hey, my uh my name is Rider.
	Um I'm calling from uh Florida, from Backstable, Florida.
	So Steve.
	Um I couple years ago I started an S Corp, and my question is putting simple and short.
	Um I don't plan to to renew the the S Corp.
	Uh you know, every year you have to pay renewal fees.
	I plan to renew it this year.
	So am I still subject to those monthly penalties you talked about uh for not filing for filing taxes for S Corp if I just let it dissolve?
	Okay, so you're you there's no charge on the federal government.
	The IRS isn't charging to keep the S Corp, it's gonna be the state of Florida.
	So what you're talking about is the Department of State in Florida, which is better known as sunbiz.org.
	That's if you increase are you a Florida S Corp.
	Yes.
	Okay.
	Yeah, so um, yeah, so that's the fee that yeah, they'll they're just gonna dissolve it on you if you don't pay the fee.
	So you'll get a notice saying that it was it it's called administratively dissolved.
	They'll dissolve it, they'll take you out of the system.
	Um, and then but what you have to do to get out of the IRS system is you have to file a final return, you know, whether it's a zero return or whatever, because the IRS has no idea that you didn't pay your fee for the Sunbiz, and they don't even care.
	I honestly they just you know they look at it from oh, you got a you got a uh F E I N number, you know, uh a federal employer identification number from us for your S Corp, and you know, uh you're required to file.
	Um have you ever filed?
	No, I I I uh I've never filed on behalf of my S Corp.
	Never.
	Okay, so then don't so I I'm assuming that did you ever get a tax ID number from them?
	I believe I uh I think so you probably never filed.
	That means you never file the proper form to become an S-Corp, because there's a specific form you gotta file for that.
	So basically I did.
	I did a couple years back I did file, I did file the IRS on the to uh to uh to uh make my S Corp uh official.
	It was but it was you know years ago, so how many years ago?
	When was the last time you filed?
	Uh back back in 2020.
	Um I never I never I never every every but I'm a W I'm a W2 employee now.
	I I've I've I always have been.
	So whenever I file taxes, I you know, I I do my 1040, you know, that W-2 employees employees have to do, but I never did any special filing for my S Corp because I never I never did any business.
	So then here's what I'll tell you.
	Don't do anything since it's 2020, you're paying your past, don't do anything.
	It's it's probably dead.
	Yeah, it's probably dead.
	Um don't file now because then you're gonna get a notice saying you're late and you're gonna get the you're gonna get the penalties and all that.
	And since you didn't have any, you know, activity on it, just let it die.
	Uh honestly, don't do anything.
	Clearly.
	Sometimes you by you doing things, you know, thinking you're doing the right thing.
	Oh, let me file.
	And if you know, it just creates it just creates it just opens doors for the IRS to be, oh, here we go.
	You know, otherwise they don't you're not on their system, you're not on the radar, you're not there's no information in there.
	Just leave it alone.
	Yeah, yeah, yeah.
	Yeah, you're not on there.
	Just funny.
	It's funny because I actually am a contractor and I uh the the company I'm performing contract work is the IRS.
	So funny story.
	I appreciate the advice.
	All right.
	You got it.
	Yeah.
	Uh let's get it to the next caller.
	Again, guys, number call into the show, 646-4900394.
	That is number to call into the show.
	Um ask any questions.
	Uh, you know, we're basically giving a bunch of value today when it comes to the big beautiful bill.
	Um, you know, getting your taxes sorted, investing in real estate, crypto, whatever you guys got questions on financial.
	It's money Monday, man, just adding value.
	So expert advice as well.
	If you guys want to cut the uh the line time, just put uh donate to the show.
	Uh whether it's uh OSS or sorry, excuse me, um CC Cows Club or um on Rumble rant or a kick sub and then put the last four district numbers.
	So we'll go to next was next on the one.
	1911, you're up.
	All right, one nine one one.
	Go ahead.
	What is your question?
	1911.
	Hey, how's it going, you guys?
	What's up?
	Hey, um so I have uh I have an S Corp.
	My uncle was doing my taxes.
	He's my CPA, and he failed to file my taxes for three years for the business, and I just got smacked with uh like sixteen thousand dollars with the IRS.
	Um three years, bro.
	Yo, what the hell?
	Yeah.
	Yeah.
	So that's your family.
	That's your family.
	It's a family too, nigga.
	What the hell?
	You so you got an IRS notice for the escort?
	Um, I mean, every year he was saying, Oh, sorry, go ahead.
	No, go ahead, go ahead.
	Listening.
	Um, every year he would say that he would they were filed, but then this year apparently he was saying, Oh no, we just filed all three of them together.
	Um I'm sorry, last year.
	Uh, but at the beginning of this year, pretty much for all the last three years.
	Wow.
	Okay.
	And and so, and is it is it for your 1120 as as corporation income tax return?
	Yes.
	Okay.
	So it's just a failure to pay.
	It's a failure, it's the failure to file fees.
	Yeah, okay.
	And there's two members under the escort.
	So give me give me the years and give me the amount for each year.
	2021, 2022, 2023.
	Okay.
	Um, I don't know the exact amounts, but it's like 5100, and then like 5300, and then like 5600 for each year.
	Okay, so one of those years you can get what's called an FTA waiver.
	FTA waiver.
	So um DM me on my uh I might even have a guide out there for it on my uh on my link tree in my uh in my uh Instagram.
	So I'm uh at seeing beyond the numbers, all one word.
	I think I have a I think I have a get a guide out there to um well, ask him.
	He should do that.
	It's called an FTA waiver.
	That's a first-time abatement waiver.
	So you should get it on one of the years, so that I take about five, six thousand dollars off there.
	Um shit.
	And the other two either.
	Steve, what do what do you what should people look for when they're hiring accountants?
	Like clearly he trusted family, they got him in a bad position financially.
	What should people be looking for when they're trying to look for and or hire an accountant to avoid this?
	You know, I I always tell people, you know, whatever industry you're in, talk to guys around you, you know, that have been doing it, you know, doing the same thing that you're doing and they've been doing it for a while, and then ask them who they use, ask them if they're happy with that person, if the fees are reasonable, and if their guy is uh is accessible, like you know, when you have questions and I need something answered, I need help.
	Are they accessible?
	Do they get you to get do they call you back?
	You know, do they pay attention to you?
	Things like that.
	So I would always start there.
	That's that's that's kind of the best way to find find a guy, you know.
	Um recommendations.
	So you know, I you know, I do trucking.
	So talk to some other guys in the truck, and hey, who do you use?
	Oh, you use Stan.
	Do you like Stan?
	Is he good?
	Okay, you know, that because that's how I get most of my businesses through referral.
	Steve, would you recommend not using family for the most part?
	I don't like it, you know, when it comes to business stuff, you know.
	I mean, it all depends.
	You know, I I have family members, I do their stuff, so I don't have a problem.
	I mean, I treat them like everybody else.
	Um, you know, I make sure you know they're just important as all my clients.
	Um, but sometimes, you know, um you get family members and then it kind of like, you know, I don't know if it's a matter of it was his fault or you gave him the stuff too late, or he didn't get on you early.
	I don't know.
	Um, you know, I don't know the all the specifics behind it.
	Um that's all it's uh it's it's his fault.
	I mean, can I add on to what you need to look for is the responsiveness.
	I mean, I just put too much trust in him because he was my uncle.
	Like now my one of my cousins does my taxes, but like if I text him, he responds within like the hour.
	My uncle will take three to four days because he's just pushing me to the side, you know.
	Even though I'm paying him, he's probably too busy.
	Yeah, he's too busy.
	Yeah.
	Probably been doing it in a while.
	Yeah, I mean, you see a lot of guys, they get they get they get like that, you know.
	Yeah, dude.
	Just uh bro, you probably hired your uncle because you know you thought you could get a good price or some shit like that.
	Dude, just hire someone who's in your industry, pay the money, don't be a cheapskate.
	You know, but dude, tell your cousin, tell your cousin to do that.
	It's called FTA waiver.
	Write that down and say, tell him to get on it.
	Let me let me let me look it up on my I think I have it on there.
	I think I put a good one.
	So my uncle took a power of attorney and said that he's gonna talk like try to fight with the IRS or whatever.
	I'm they're not they're not gonna do it.
	Um I I know this already.
	They it's it's they're gonna let one year go.
	You're gonna get the one year using this method.
	But let me let me get you the link tree.
	Hold on.
	The other thing too, bro, is like people hire family to save money or whatever.
	Dude, just if you got a businessman, like just get an accountant that's really good at you know, whatever because I agree with Steve that like going and finding an accounting in your niche is probably the best way to go because they're gonna have they're gonna just understand certain things based on different types of business things that you can write off, etc.
	So um, yeah, bro.
	Just people always fall for the oh, I'm gonna use family or whatever, but as you can see here, he might have not been equipped.
	Maybe he was overwhelmed, uh, maybe you didn't pay him enough.
	Who knows?
	But yeah, dude, just always.
	Also, to your point, they're vetted.
	Because someone's using them already.
	Yeah.
	Undervetted, so that's good.
	Yeah, just look into the FTA waiver.
	The other two years, it's gonna be listen, you can get all the 2848 power of attorney forms you want, and you're gonna get some some freaking uh, you know, 7,000 an hour asshole on the phone.
	They're not they're just gonna go through the computer, and you know, they're they're they're like bots, basically.
	Steve, is he gonna have to eat that 18k then I guess?
	Not the 18.
	I think it's you see, he said it's it's about 5500 each year, so yeah, about 11 grand of it.
	Yeah, you can get I think you get about 5500 ticket that first year, the 20, what is that?
	I think it was 21.
	The 21, you can get waived fully.
	They're gonna give you the mulligan on that.
	So he's gonna pay roughly best case scenario 10 to 11, yeah.
	About 11, 12 grand, yeah.
	So there you go.
	We just saved you $5,000 plus uh on a phone call.
	On a free money Monday call.
	That's an automatic pretty much.
	That's an automatic mulligan you get.
	You don't have to, you don't you just tell him please write the letter.
	Bro, we just say bro, six thousand dollars.
	No, you can chat GPT and chat.
	I think Chat GPT will rent you a letter.
	I've done it before, not now.
	You could just like chat GPT, I need a uh FTA waiver for this tax here for this amount.
	Here's my here's my business name, here's the tax ID number of it, and boom, it'll do it for you.
	And and then you just scan in a picture of that uh that that 21 notice and it'll write it, it'll write it pretty good for you.
	And just give it to your cousin and have him have him look it over and then clean it up and send it out.
	Damn.
	Okay, and you said that was on your Instagram?
	No, I checked that it's not on there.
	But DM me.
	DM me and then I'll I'll give you the link to it.
	Steve, how much do you charge for a call like this or per hour for your customers?
	So I got it on there.
	I do you know for a half an hour call, um, which you get a ton of value on there.
	I go through a lot of things, and yeah, it's not just all tax, it's some business advice stuff too.
	Um it's uh I think it was like um 300 for for half an hour and I do 500 for an hour.
	Yeah, it's pretty good.
	That's that's a that's a discount basically for you guys because you know you gotta got you know, a lot of a lot of guys trying to level up and stuff like that.
	So yeah, just there you go.
	So there you go, my friend.
	You made one phone call you just saved almost 6,000 bucks.
	So uh let's move to the next caller.
	I appreciate it.
	Yeah, no worries, man.
	Get that FTA waiver, boom, right there, and at least knock out the first year and then uh don't hire your cousin again or your uncle, whoever that was that fucked up.
	Yeah.
	So all right.
	Cool.
	Uh who's up next?
	Uh four, six, four, seven.
	You are up.
	All right.
	Again, guys, uh either rumble rant in FNF Super Chat.com or Castle Club put the l donate and put the last four district number and we get on the line.
	Go ahead, uh caller.
	Four, six, four, seven.
	Actually, no one we should start.
	What's your name and where you call from?
	What's your name where you call from, bro?
	And how old are you?
	Um I'm shotty, I'm twenty-eight, and I uh live in Indiana.
	All right, cool.
	Hit us with your question.
	All right, so I mean, I I come from accounting, um, you know, majored in school, worked in public, worked in industry, worked with multi-billion dollar companies.
	And right now, um, I'm making a good salary, roughly one fifty a year, and I just started doing some fractional CFO work.
	It got me thinking, you know, I could really hang my own shingle there and do fractional CFO work.
	Kind of trying to figure out if I should focus on a niche or um you know, just how to take it, how to manage the time.
	I don't want to be a workhorse in charge hourly, like how to price myself.
	Um I'm really focusing on like you know growth, profit maintenance, uh cash flow projection, financial statement walkthroughs, forecasting budgeting, all that stuff, and you know, the strategic stuff that helps the business, uh really enjoy.
	So just wondering what you think about that.
	And are you in public now?
	No, I'm not.
	I work for a manufacturing company as a division controller.
	Okay, so you have a built-in expertise with uh cost accounting and manufacturing, right?
	Yep, yep.
	And the fractional CFO work I do is for a uh buy and sell business.
	We import product and uh sell it online.
	Okay, okay.
	Um so yeah, I mean, definitely, you know, so it sounds like you got a niche in there, and I'm sure there's plenty of work you can do, especially with you know, small small business manufacturing.
	Um you said you're in Indiana.
	I don't know how much industry there is in in as far as that's concerned.
	Oh yeah, I mean it's like the art.
	I think you know, because I think yeah, for what you're talking about, you know, I know we live in an online world and you know you could do Zoom and this and that and the other.
	But I think from from a standpoint, if you're gonna get those types of clients, you're gonna want they're gonna wanna sit down with you face to face.
	They're gonna want you to see their business.
	They're gonna want to walk you through everything.
	They're gonna want to tell you their story.
	They're gonna, you know, you it's gonna be more of a relationship thing.
	So I think if you're gonna get businesses like that, yeah, I would start there.
	Um, you know, so I mean I would and the thing about that is you get involved in their personal life because you know their business bleeds into their personal life, and you know, you gotta understand what are your personal goals, where do you see yourself in 10 years?
	You know, what is the business have to look like to get you there and what steps are we taken to make sure that happens.
	So it really is like that.
	And the way I understand it is you either are pricing low on a lot of clients or you're pricing a premium amount on a few clients.
	I'm kind of leaning towards pricing premium on a few.
	Yeah, I I totally agree with you as far as that's concerned.
	Um yeah, definitely it sounds to me like you should probably, you know, your wheelhouse is gonna be manufacturing, you know.
	You th that's probably gonna be ton of businesses around your area, I'm sure that that would that would meet that criteria.
	Maybe they got you know, a lot of these people they don't hire the right person, and they get like maybe some, you know, Sally, the bookkeeper that's some glorified QuickBooks girl, and she's you know, trying to do everything and be everything, you know, do all the do all the purchase orders, do all the accounts payable, do all the receivable stuff.
	Um, you know, and then a lot of times books are kind of a mess, and the cost accounting doesn't really give them accurate reporting what they need based on what she's you know doing in you know, uh her data entry stuff, and they need a little bit more sexier reports, you know, to help them um that's where you would come in, you know.
	So yeah, you know, and I guess you gotta kind of define the parameters for each, you know, everybody's gonna be different, but if you can focus in on some, you know, these are these are the deliverables I can give to you, um, you know, and then you know, um try not to get trying not to be too much for them, you know, where they're trying to get a full-time amount of value out of you know, someone that's just a fractional, you know, uh type of person.
	So um, yeah, I I like it.
	All right.
	Okay, well, I appreciate that.
	Yeah, and uh and I do offer like the the bookkeeping side, but I contract that stuff out to uh some local bookkeepers.
	I don't want to touch any of the you know, that's that is that's not a fun that's not a lot of value added.
	I'm not I'm not a CPA either.
	I didn't go the CPA route.
	Um, and I'm not a tax.
	So I I I would, you know, I strictly say, you know, I'll have a tax person who I refer to and funnel business through, and he funnels business to me.
	But uh, you know, I don't would you say that's you know, a make or break for some people where you have to do you have to be a CPA or a tax guy.
	No, that's good.
	That's a that's a good relationship because your tax guy's gonna throw you a lot of work too when he when he comes.
	Because sometimes I get businesses I like, listen, you know, I can't, I you're you're you're asking me for stuff that's outside of the scope of what it is that I'm trying to provide to provide to you.
	And if you want that, I can charge you for it.
	It's gonna be expensive.
	Um, but that's where somebody like you can come in and say, hey, you know, I I I've got this client over here, you know, I just want to stick to the tax planning and the tax strategy and tax prep work.
	Um can you guys take over the accounting and then do the you know do the specialized reporting for them that they need and um and analysis, and that's where you know, that's where you guys can come in.
	Cause yeah, we we don't I'm so busy with everything else, I don't have a lot of time to do all that stuff.
	And they don't sometimes a lot of these businesses are in the place where they can't afford somebody to pay you know 150, you know, 100, 150,000.
	Um, but they do need that that level of service.
	So yeah, definitely.
	And I guess my last question is, you know, being that I work a full-time nine to five, and I'm trying to get out of that, you know.
	I I just want freedom.
	I I can make 100k and be happy owning my time, then 150 working for someone else.
	My thing is is you know, when do you go and just say, I'm done with this job and leave?
	Do you is it at a certain income level?
	Yeah, you gotta so I did the same thing.
	So when I started out, um I was working for a small boutique boutique.
	I got headhunted from New York down here, and um I winded up um getting uh a chain of furniture stores, a chain of gas stations, and a chain of um some fast food.
	Um, and that was enough.
	Those those clients were I was billing them so much.
	I was kind of like a fractional C CFO too when I started.
	I was billing them so much where it was I was able to to replace my total income at the firm.
	And then I was able to say, okay, I don't need to do that.
	And then there was a couple of other things I had in the pipeline that I was working on.
	So definitely you're where where you know you can replace your you know the 150 that you're making right now once you get to that level, and then you have some stuff in the pipeline where you're gonna exceed that, then you know, and then you can devote, you know, then it's time to work for yourself 100%.
	Cool.
	Yeah, all right.
	Well, I appreciate that.
	I also do uh like cover calls and cash security puts on the side and uh trying to invest in real estate.
	So those are some other cash flow I'm trying to produce for myself.
	Nice.
	Hey, I really appreciate the advice.
	Uh yeah, you're yeah, anytime.
	You know, thanks for having me.
	Good stuff, man.
	Appreciate it.
	All right, uh, who's up next?
	6407, you're up.
	6407, you're up.
	Hey, what's up, guys?
	My name is Joshua.
	I'm 37.
	I'm from the horrible state of New Jersey, as you all know.
	So uh I'm calling in my question's a little bit different from everybody else's here.
	I'm not as established as everybody.
	So recently, and this is for everybody here in my room fresh and Steve.
	Um I got my MBA in marketing.
	I also have my BA.
	But I'm gonna be honest with you, I'm unemployed, I have no experience, and honestly, I'm lost in what direction to even go in.
	Because prior, I was trying to get into the creative industry, but as you know, that's ruled by a certain group of people.
	And uh I decided that I needed to pivot, and right now I really don't know where to go.
	And considering the credentials that I have, and considering every one of your expertise, uh, what can I do?
	What should I do?
	What's what type of path should I figure out and what can I do to turn the degrees that I have into something that's actually real?
	I want to be a financial foundation for my family now.
	And I'm gonna be honest, I feel like a freaking loser.
	And that's the reason why I'm calling in today to see if I can get some expert advice from you guys.
	I think there's a huge need for social media marketing for small businesses in your area.
	I mean, being in Jersey, there's got to be a shitload of them.
	And if you can develop an expertise in doing that, you already have the marketing background.
	If you're good at with people and you can put a package together to say, hey, you know, whether it's a dentist or uh, you know, uh a salon or a spa or some type of you know, retail outfit uh uh business where you know you you look them up and they're social media presence.
	I know there's a lot of people in that space, but if you can make a door to door, you know, you know, put some stuff together, that's a start.
	And um there's there's a big need for that, I think on a on a local level though.
	Yeah, you can you know just that to Steve here as well.
	Um regarding experience, you say you don't have that, that's fine, but to Steve's point of helping businesses with social media, uh they're lacking a lot of companies, they don't know how to market at all.
	It's cool as well.
	It's basically like brick and mortar, they don't know how to market it as well.
	But if you can learn just more than them, and you don't have to know everything, just more than the company knows, you can sell them products and services to their benefit.
	So that's the really thing, easy thing you can do from right now.
	Um, like Steve said, and it's doable because you can do it online, digital footprint right there, right there uh at your home.
	Not hard at all.
	Yeah, a ton of restaurants.
	Yeah.
	Uh just one more thing as well.
	Use AIT Rabbit.
	Chat GBT.
	Give me a five-step plan to create services for small companies in Jersey.
	Boom.
	Just like that.
	Just like that.
	And also, um, to you to add to that, there's a specific industry besides that that I should look into that maybe is a little bit more easier to do that kind of work in, or uh does it matter what's you know?
	No, I think just I mean, it's it's social media marketing, so I think to a certain extent, you don't need to, you know, it's a restaurant's a restaurant that dentists and dentists.
	You can look at some other copy, you know, you could copycat some other pages and other other jurisdictions outside of here, you know, that look good that are that are that are doing well, and kind of you know, you don't need to recreate the wheel.
	They just need actual people to actually do it.
	So if you could develop a skill set doing it to set up their Instagram to keep their postings on there, the same thing with Facebook, same thing with TikTok.
	You can start to do you know postings on a weekly basis to put a package together.
	Um there's a plenty of research out there.
	There's there's a need for that.
	There's so many businesses out there, there's so many people.
	When you're running your own business, you don't have time to do all that shit.
	Yeah, you know, I could use somebody to do that from a CPA practice.
	Because we don't do we don't do it, you know.
	Thank God I've been doing it long enough where we have a ton of referrals.
	We don't we're not we're not needing that, but I could see a lot of you know um uh people that you know, a lot of owners like you have to develop your own expertise in doing that on yourself.
	You need somebody to do that.
	And if you could do it face to face, like on a local level, meet the people.
	Hey, I put this package here, some of my workers, some of my clients, you just start somewhere, knock on some doors, and not the people will pay you for that.
	Yep.
	Okay, then and also just one last question before I let you guys go.
	Would you recommend getting a mentor in order to help, you know, uh further my uh development that way I know exactly what I'm doing?
	Of course.
	Yeah, absolutely.
	You know, somebody somebody that's doing that too.
	You can talk to somebody that's doing that, maybe you know, maybe maybe you could help with them and just kind of learn the ropes work for them just to do that.
	I'm doing whatever what whatever it takes to learn it.
	You could find a company or someone that's doing the services already.
	Uh look at their actual program, look at a website, what they offer, create your own based off of that.
	Hey, brother, uh, I'd love to learn from you directly.
	Is there any way I can you could do coaching?
	I'll pay as well, and then see what they say.
	But again, you can look up the actual format, copy it to your own um skills, and then of course, like receive step branch out and give people advice that way.
	Okay, then well, you know what, guys, thank you.
	I appreciate this is amazing.
	This is gold information.
	I appreciate and I also appreciate everything that you guys do.
	I've been watching you guys for a very, very long time for years now, and you you both all of you are doing God's work.
	And all I have to say is keep doing what you're doing, and uh I'll see you next time, okay, guys.
	Don't give up.
	We all have our downtimes, but uh you're still briefly, bro.
	So you can make it happen for sure.
	Best to you.
	Thank you.
	Have a great night, all right?
	All right.
	Uh who's next?
	And then Steve, let me know when you uh uh good on time.
	I'm good, yeah.
	So you just let me know.
	You got more questions?
	Uh believe we do.
	Yeah.
	I guess outdoors, right?
	Coming up next.
	Outdoor school.
	Yep.
	Um 2648, you're up to six four eight.
	Hey Fresh, hey Myron, hey Steve.
	I was just wondering, um, I'm set to inherit my great aunt's house eventually, and I was just wondering what sort of tips or like pitfalls you would recommend to avoid.
	Ooh.
	What's the time?
	So you say you're set to inherit it.
	So is she sick or um what what what's the situation there?
	He's just really old.
	She just turned 88 yesterday, actually.
	And I just I want to be prepared for when it happens.
	Is she working with an attorney to do it?
	I I honestly don't know.
	I've been she's been meeting with people to update her will and stuff.
	I I don't know all the details on her end.
	Wait, but are you a part of the will though?
	Yeah, I'm gonna be the main benefactor.
	Okay.
	So when it comes to the property, then one of the nice things is you could st it what's called a step up and basis.
	What the heck does that mean?
	Step up and basis.
	Okay, what that means is she's giving you the house, right?
	Maybe she paid, who knows?
	I'm just gonna come up with a maybe she paid 50 grand for it and now it's worth now it's worth 450.
	So now you're gonna get it.
	What you wanna do is you wanna get with your CPA and tell them that you got this house, okay?
	And you're not getting her basis of what she bought it for at 50,000.
	You're getting what's called a step up and basis because you're you're you're now your your base is whatever it's gonna be whatever the value of it at the date of um her passing.
	So it's gonna be the whatever the whatever the let's say you know, she you know, God forbid she passed today or whatever, and it's gonna be whatever the value of that house is today, it's gonna be what your cost basis is gonna be.
	Well wait a minute, caller.
	Uh is she sick or anything?
	Is she sick or is she like feeling like bad?
	Why do you think she can do 88?
	She's actually really healthy.
	She's still driving and everything.
	Nigga, what if she listened like 20 more years?
	What the heck?
	You plotting that early, nigga?
	Yo.
	Yeah, her mom made it to a hundred, so she can go forever.
	No, you're never gonna get that house.
	Or has something that bad going on with her?
	She would live a long time, bro.
	So Winnifet House is kind of like I ideally want.
	I just don't want my wife and I, because I know we're gonna be responsible for like utilities, tax and stuff as soon as the inheritance happens, and so I just want to be prepared.
	If you took that house, what do you what would you do with it?
	Would you rent it?
	Would you sell it?
	Well, I listen to Myron a lot.
	Shout out OSS and I would probably rent it.
	Okay, good.
	That's a good that's a good deal.
	Yeah.
	Um, but just you know, just to make sure when you start to rent it and you need to depreciate it, you will tell your CPA your comment and say, hey, I inherited this house, and it's gonna be whatever the that cost basis is at the time that you took possession of it.
	Okay.
	And then I was wondering uh everyone on the panel what their opinions were on like a property management company.
	Oh, for sure, bro.
	Uh, real quick though.
	Um so let me get it straight.
	Uh she's pretty healthy.
	She's 88.
	Um but let me ask you this question.
	Are you working a job right now?
	Are you working yourself?
	Yeah, I'm an independent contractor for a local nonprofit here in Arizona.
	Okay.
	Listen, bro.
	Just don't offer, bro.
	That's messed up.
	Wait.
	No, I would never.
	I love her.
	Okay, great.
	Great.
	Just make it sure.
	Um, awesome.
	Go ahead.
	You know the question.
	No, that was it.
	Just uh the inheritance and the property.
	Oh, Steve.
	What do you mean?
	Yeah, just what if you just remember just remember that which probably would I tell you, write this on this.
	It's called um step up and basis.
	Step up.
	It's called step up and basis.
	Yeah, I have CPA and step up written down.
	Yeah.
	Steve, what if you had like a trust to transfer the uh property to?
	Would that help or no?
	Um well I've is gonna rent it like we talked about, you know, doing you know, putting it in quits quit claim deed it uh into an LLC, a limited liability company.
	Okay.
	Because it's real estate and you know, in case you get sued or whatever, they can't come after your other assets.
	It stays only to the asset that's in that LLC, which would be just that property.
	By the way, I have an LLC with an EIN already, but it's not really active.
	Yeah, so if you have that, you know, it's a potential possibility, you can just uh quick claim need it over to that LLC.
	Um, you know, and follow wherever you're at.
	I don't know what jurisdiction you're in, but there's a way to do it.
	It's called the quick claim deed.
	You could do it with the at the county, you know, get the forms, pay the pay the pay the stamp fee or whatever it is, the filing fee for it.
	Yeah, And uh do it.
	All right.
	Okay.
	Awesome.
	Thank you guys.
	Cool.
	Alright, bro.
	Uh who's next?
	We have six five zero five.
	You're up.
	Six five zero five.
	Six five.
	We can hear you.
	Yeah.
	Thanks.
	We can't hear you, bro.
	You're coming in very low and distorted.
	Yeah, one second, guys.
	Were you calling from India?
	Uh from uh Australia.
	Ah I see.
	Yeah.
	Um we can hear you now.
	A little bit better.
	Awesome.
	Awesome.
	Um I'm calling from uh Australia.
	I'm Sri Lanka living in Australia, Sydney.
	Right now.
	And uh so I'm currently working on an um AI project working uh on like you know, creating an AI system for real estate agencies.
	Okay.
	So um just wondering, I was planning on opening up a LLC or an S Corp um in US as well, because uh it's like no more uh tech um Tavian like no friendly tech and everything in terms of uh like you know uh hosting my cloud band service and etc.
	I'm wondering about the process for that as a portina, like you know, opening up the LSEs um instead and in terms of like you know, in the long term if I'm to like you know, take out uh certain bank loans, etc.
	What's the book and then like no what's the best spot to uh go?
	Yeah, so you could do definitely do an LLC.
	Um, but since it's just gonna be a service company and you're developing something, you could also do this just a straight S Corp.
	So if you go on to my Instagram link tree, I have a book in there.
	I can't remember.
	I don't even know what the price is to be honest with you.
	It's not much, but it walks you through, and I have it, it's for all 50 states.
	Just so you know.
	You can go in there and it walks you through step by step.
	There's you could click on links.
	There's there's some YouTube video, uh hyperlinks in there too to walk you through certain forms to fill out, but it walks you through.
	And I I think I sold like you guys last year like $5,000 worth of that book, and I think it was only like 17 bucks or something at the time.
	So a lot of people got it, and they were able to do their their um their LLC and S Corp and get their EIN number, file their S Corp election.
	It walks you through all of that.
	And it's and I did it in a way like it's it's like it's like um what were those books they used to do?
	Um for dummies type of thing, you know.
	Yeah, yeah, like setting up an S Corp for Dummies or something like that.
	Yeah, yeah, yeah, yeah.
	So it's in there, it's called uh it's called LLC to S Corp A to Z. You just hit my link, click in there, cash the committerly.
	It's a that's a PDF download, it's got all the links in there, it's got all the forms you need, and they walks you through it's dummy proof.
	All right.
	All right.
	Who's up next?
	Yeah, I didn't know.
	And uh it's kind of what uh what we um Chris isn't here yet, but I think he's gonna be here soon.
	Uh I didn't know there was Indians in Australia.
	Well, it's a lot of them, bro.
	Tech support.
	Oh shit, yeah, bro.
	There's a lot, bro.
	There's uh yo Australia and the UK, these other five countries, bro, have a lot of immigration, bro.
	A lot.
	Where's calling from India?
	Like here, we got Hispanics, these other places got like Asians and Indians.
	Indians, yeah.
	Come again.
	Yeah.
	All right.
	Um guys, uh, as you guys know, we're gonna do uh Fresh Fit After Hours after this.
	As you guys know, it's only gonna be on Rumble and Kick only.
	We no longer stream on YouTube.
	This channel is basically turned into a financial channel.
	I'm gonna keep it a dolls with you guys.
	This channel is basically financial channel now.
	Um we understand that we've given you guys a lot of value.
	You know, every time you guys come up to us and say, yo, you help me, whatever.
	Nine out of ten times it's either with a woman or with finances.
	Yep.
	So this channel's gonna continue to pump out financial content for you guys on YouTube.
	Um you guys are getting shorts, I think.
	Uh Brett is dropping one or two shorts a day or clips.
	Yeah.
	Um, and then obviously you guys are gonna get at least one live stream a week, or if not two live streams on Friday, assuming we don't have a guest or we're not doing something special like that.
	So I think right now for this Friday, we're probably slated for a um another call-in show with finances.
	We'll try to get Steve on as many of these as possible, guys, so that we can help you guys from many different angles.
	And we'll bring in guests as well.
	Yes.
	So um this channel is basically gonna be a financial channel, guys, on YouTube at least.
	I mean, obviously on Rumble and Kick, we're still gonna do what we do, but on YouTube, only money Mondays and clips and change but also it's a storm brewing with the financial system right now.
	So getting money on point is key to survive what's coming next.
	So this is very important.
	So if you enjoy the content, guys, uh the you know, the dating stuff and uh after hours and all the other stuff, it's not gonna happen.
	You just gotta go to Rumble or kick.
	Yep.
	And I think between those two platforms, kick isn't banned anywhere in the world, right?
	Not that more.
	he's using Amazon servers, so yeah I think kick you're fine no matter what.
	I know for some of you guys Rumble is banned in Brazil, Russia, China, France, AK, uh, France, authoritarian countries that don't believe in free speech.
	But um you're if you're having problems with that, watch on kick and you guys will still have access to us.
	So I was I was in Paris, right?
	And I met a business guy that's very successful.
	And I was like, yeah, we stream a rumble on YouTube say rumble.
	He heard that the media ban a rumble because they're pushing against the agenda.
	So purposely banned Rumble because they were exposing Yeah but they they they had I forget who it was they had like a French political podcaster that the French government wanted banned and Rumble said no.
	And they just turned the service off in the country instead.
	Yeah.
	So Rumble does stand by free speech bro so cucked.
	You know I mean they support their creators.
	Yes they support their creators bro for real.
	So but yeah guys nothing changes um just after hours though and you know uh the dating shows everything else like that completely rumble and kick only guys kick.com slash fresh and fit rumble dot com slash fresh and fit um it's only banned kick is only banned in Turkey okay so if you're in Turkey watch rumble but Mo just did a quick little check for us thank you Mo.
	0667 you're up 0667 what's going on my long story short I'm a Navy veteran I served from 2018 to 2023 and I'm leaning into starting I already have starting a jewelry business based out of Maryland here and I just I'm just wondering if I can get any insight as to what benefits veterans may have and in the aspects of small
	business versus like normal civilians Steve are there um I'm sure there's probably loans out there specifically for veterans uh to start a business right or he can use like maybe Navy credit union credit union sense to give good loans uh what do you think Steve?
	Yeah, and I believe, don't quote me on that, but I believe there might be some special programs through the SBA where you get some preferential treatment.
	Is there a particular reason why you want to do jewelry, though?
	Is it something that you're interested in and you know a lot about?
	I've been interested in it for a while.
	I got out after four deployments overseas.
	I just started noticing more people, whether it be like rappers or people that just want to be.
	be into jewelry uh whether they're investing in gold or silver etc there's uh a lot of the uh crowd is switching towards um D V D diamonds or lab diamonds or even Moise night to cut the costs and still get the same look yeah no I mean I was just I was just curious what why you wanted to open a jewelry business in general uh you know if you're interested in it and you want to do it then totally cool.
	I just wanted to make sure like you weren't doing it because like oh I want to do it just to make as much money as possible because I think there's other endeavors that you can probably use if your goal is making money but if you're actually interested in it and it intrigues you then yeah bro chase your dreams absolutely do it.
	uh fresh what's your thoughts i mean you're in the jewelry world well my friend uh you're competing with years of actual diamond uh acquisition years of actual family lineage so competitive market you want to fight give it to them raw bro give it to it raw tell them what it is so so i get your point again was tonight and other uh means of getting diamonds but remember at this point they've been established a long time ago these companies and they're it's like family like lineage you know another thing about it bro when
	you go to jewelers you're going to people that are established nine out of ten times you're you're not going to new people jewelry business is always handed down so you'd have to have a heavy presence on social media like heavy but again yeah track tracks NYC White Carrot all these people have been there for years father grandfather yeah so you can be against lineage not just like companies that sell jewelry that you know now nine out of ten times he got that handed to him from his father yeah but you're right.
	Yep.
	So get ready for that okay so if he so basically I've been talking to also hold on hold on hold on hold on what is brother the word itself jewelry first three letters understand we can be against well not only that um the other thing I want to say also when it comes to the jewelry game that I was just thinking about now is um it seems to me like if you don't have a family lineage the only way you're gonna offset is you need to have a huge social media presence too.
	So I I I would say bro build up your social media presence if you can build it up, then maybe it might be an endeavor to go into, but we don't want you, you know, starting a jewelry business, spending a hundred thousand dollars just to procure some inventory, and then next thing you know, you can't sell it because you don't have the advertising, or you can't beat out K jewelers or Traxxon YC or any of these other guys.
	Yeah, Trax actually did this from the growing up.
	He was very smart.
	Now you can't do this anymore.
	What you would do is he'll go to every single store, take a picture of items and put it up for sale.
	He put a markup on it and go buy the item after it was sold.
	Pretty much get deposited by an item and then sell them at a profit.
	He did that for a number of uh years, and he amassed a lot of money, bro.
	Any final social media boosts and remember guys know it is selling items online isn't that hard.
	If people like you as an individual and they see you put content consistently, you become what an authority in the space.
	At that point, they trust you, and they go buy from you.
	Yeah.
	So all right.
	So bro, there you go, right there.
	Um, you know, basically what we're saying is it's risky, and unless you got a big social media presence, it's gonna be difficult, but you can build that social media presence, and what you're up against is you're gonna be up against family lineage and experience and you know, tried and true business models that have lasted a long time.
	So build up that social media profile so that you can circumvent that.
	It is a relationship-based business, and it's been multiple amount of years of building that relationship.
	Yeah, good point.
	Yeah.
	So I want to get I want to get rid of it myself, but uh okay.
	Yep.
	And you got a platform.
	You could actually do it if you wanted, and you don't even want to do it.
	I work with my boy, remember?
	He's we could get into it easily if you wanted.
	Yeah.
	But all right.
	Well, bro, we're not trying to talk you off the ledge or anything like that.
	People are just being very real and honest, is like we don't we want you to work.
	No, no, you're good.
	I appreciate I appreciate the input, bro.
	That's why I call, bro.
	I appreciate it.
	There you go.
	Take your time and everything.
	No worries, man.
	No worries.
	Just things to keep in mind.
	Uh, how many more pe uh people we got on the line?
	Uh Mo.
	Mo well, Chris and I walk in yet, so okay, we got a lot a lot more.
	Yeah, we got a lot more, but we'll do two more.
	Yeah, we'll do two or three more.
	Yeah, because Chris.
	Steve, is that cool?
	Is that cool, Steve?
	Yeah, let's yeah, you're fine.
	You're good.
	Yo, I'm just laughing at the I'm laughing at the chest, like this one guy.
	You can do talking about the jewelry.
	He's like, Yeah, gonna you guys are crazy.
	Gonna have to do free giveaways and get circumcised as well.
	To compete.
	Oh my god, I don't know how you guys deal with this.
	5887, you are up five eight eight seven.
	Yep.
	Hey, what's going on, guys?
	What's up, man?
	What's up?
	Hey, so uh, yeah, thanks for the opportunity.
	Um, so Steve just had a question.
	Um about I I recently filed I changed from an LLC to an S Corp, and uh for 2024, uh I'm in uh almost 100% commission sales job.
	Uh so there's very, very little overhead.
	I'm contracted by a company, almost all the revenue comes from them.
	So I structured it as an S Corp to try to uh save from what I would pay if I was going to pay taxes as an LLC.
	Although, since I have little overhead, I'm looking at my net income and it's I mean super high.
	Uh right now it's you know 190k for the year, but I've only made about 40k in true uh expenses for the business.
	Everything else has just been uh owner distributions, and I'm a little bit concerned, you know, because most of it's just transferring to personal accounts and you know, owner draws and stuff.
	If I'm really gonna be paying a lot in taxes, or yeah, if there's any way to get it, I don't really know.
	So you so you're gonna have about 150,000 profit.
	You say you got 40, you know, you're at 190, 40, 150 profit, ordinary income.
	You're gonna have some issues on that S-corp because you didn't pay yourself a salary.
	So the IRS, because of Medicare and Social Security, particularly social security, is going bankrupt or is bankrupt.
	They're going to start to come after S Corp um owners that are not paying themselves a paycheck and paying some social security and Medicare.
	So that's one issue.
	There's a way around that.
	Um the other issue is there are some advantages that you could take, but I don't know the nature of how you conduct your business.
	So you know, do You do it online.
	Are you getting your car?
	Are you traveling?
	Are you um you know, using your home office, things of that nature?
	Where you could you could take advantage of some of these.
	Um it sounds to me like um you should do a consult with me, at least a 30-minute consult.
	If you want to, I would I'll just book it.
	I'm telling you right now, I could probably save you about 15, 20 grand in taxes just based on what everything you just told me.
	Wow, there you go.
	Yeah, just get into my Instagram and book it.
	I think it's one of the links in the book it and I'll get I'll get an email.
	This is there shouldn't even be uh uh uh this is a no-brainer.
	Steve has been our accountant for literally what, four or five years now at this point.
	He saved me hundreds of thousands of dollars.
	Before we buy a property, we buy a car we call them.
	Steve, what should we do?
	We call him before every financial decision.
	Yeah, like everybody that we bring on the show a lot of times, guys, is someone that's especially with the financial stuff is someone we either know or someone we work with.
	Yeah.
	So um, you know, do the console, bro.
	He's giving you a discount while he's running it for like what, two, three hundred bucks for 30 minutes or so, 500 for an hour, 100% worth it to save thousands.
	So jump in there and obviously let's go and based on everything you're telling me.
	You're you're you're in you're headed in the right direction.
	So that's good, but there's a few things, a few things that it's gonna be beyond the scope of this, you know, call in uh call right now.
	Um but yeah, it's probably needs to go into details that you don't want to put out in front of thousands of people.
	Yeah, yeah.
	So uh fine, no worries.
	All right, we'll take uh one more call, guys, and then we'll uh close out here.
	All right, because we gotta get ready for the next show.
	Is there any okay?
	Go ahead, caller, who's up next?
	Oh, there you are.
	Zero not zero nine two one, you're up zero nine two one.
	Zero nine two one, you're on there.
	What's up, Ellis?
	What's your name?
	Are we calling in for?
	I have, of course.
	Uh Alabama.
	Okay, how old are you?
	35.
	Okay.
	Yeah.
	Um foreign income exclusion act.
	So what um this is to Steve.
	Um do the only W-2 jobs um account for um that particular tax exclusion, or can you have an LLC or Air Corp or uh tell me a little bit about that?
	So you're working overseas?
	No, I will be moving um next year.
	So get everything in order.
	Yeah.
	Okay, so you're gonna be working where and what what country are you going to?
	Not sure yet, but it may be looking at Kenya.
	Kenya, okay.
	Um do you know what the so I mean I don't know what the tax laws are in Kenya.
	Do they do you get taxed in Kenya?
	So have you have you looked into um the Kenya tax laws where you're gonna be at?
	No.
	And I won't be doing business over there.
	I I'll be earning US dollars.
	Uh oh, so the comp you're working for a company, is a US-based company?
	Yes.
	Okay, so it's a US, it's a it's a US based company.
	So how much are you gonna be making?
	Um around the one a hundred thousand mark.
	Yeah, so you're probably you're gonna be well below the exclusion amount.
	Yeah, so you should be able to um yeah.
	So what happens is the the U.S. taxes you on your worldwide income.
	So it doesn't matter where you're at in the US, as long as you, you know, if you if you're if you're a U.S. citizen, um, and then if you go to Kenya, if Kenya takes taxes out of that check and you pay to the local, you know, jurisdiction there or the country, um, and you file some whatever form they they need you to file if they if that exists there in Kenya, I don't know, because I don't know the Kenya tax laws.
	But if they do, then you get what's called a foreign tax credit um on your on your US-based income tax return.
	Okay, I was asking because my CPA uh told me that certain um LLCs or jobs didn't um didn't work with debt.
	All right, so caller caller, let me be let me be real blunt with you, bro.
	You're obviously withholding information for privacy reasons, which is fine.
	I understand you're on a phone call with thousands of people watching and you're reluctant to answer some of these questions, but understand that for Steve to give you the best answer, um, he needs to know is it with the US government?
	Is it with a private company that's based in Kenya but is a US-based company?
	Um All this stuff is very important so that he can give you the best advice.
	And obviously if you want to do a consult, you're welcome to do that too.
	But understand for him to properly answer your question, there's going to be a drastic difference of you, let's say being there in Kenya on government business earning US dollars versus maybe working for a private company that might be based in Kenya.
	You might be subject to certain tax laws there that you might not be subject to as a government employee.
	Does that make sense?
	So this is why Steve is asking these questions.
	Yeah and then there's also going to be like a residency test.
	Are you going to be you know so there's a bona f it's called bona fide residency test or whatever.
	And um you um so so you'll you'll have to answer those questions and so and obviously like answer whatever you want.
	Like I I understand that you might not want everyone to know this and I'm very sensitive to that but just understand if you want to get the most accurate information based on your situation he needs to know these facts they're very pertinent to the answer he gives you so you're going to be a resident I'm assuming right for the pretty much the whole year.
	Yes and I just have a small basis here and then I just had a question about me just like if I'm starting a B if I'm doing like a um consulting or whatnot.
	So there's something small um I'm just wondering would that um you know would that work for that with the foreign income exclusion egg.
	Yeah so basically it's you know like I said they they tax you on your worldwide income.
	So um I don't know what the specific tax law is in Kenya.
	So if you have to pay to the jurisdiction in Kenya you're going to get a tax credit for it.
	But if it's going to be one of the situations where you're a bona fide resident of that country and then you're not of the states and it's that situation you have to go through you have to go through the test of the you know the 200 I think 253 days.
	No no no with the government okay I just have a small regular basis.
	Yeah okay okay well thank you very much.
	Yeah no worries man uh yo I suggest dude if you want more uh you know clear stuff hit up Steve and you can go deeper into detail bro I can walk you through that if that's something you're really interested in doing it I would suggest you kind of like the previous caller we could talk and get into the specifics of that privately.
	Yeah dude I suggest you definitely do the consult with him because um you might be you might be withholding a piece of information right now that takes everything and make changes everything.
	Correct.
	You get what I'm saying?
	Like it's it's very important that you and and I know this because like when I used to work for the government and guys would go international they weren't subject to certain state laws because they were there as a government official right or sorry other countries tax laws or whatever.
	So you being there you know if you're right are you a resident are you a U.S. citizen only what kind of business are you running?
	Are you running a business where that country might give you a break and not tax you all of these things need to be accounted for bro so I suggest you do the consult with Steve and get your questions answered properly.
	Yep versus like withholding information on this stream and then moving with the wrong information based off what you think you know that you know given your situation I totally understand that you want to keep things private which I respect um but I just want you to get the best info that you can based on what's actually happening in your situation.
	All right appreciate it.
	No worries man forever.
	Awesome um cool so guys we're gonna um end the stream there uh we got to set up for the next show Steve thanks so much for coming on bro uh I think we might have you on on Friday um we should do a Zoom call as well for the guys yeah well let me know you know because I'm I'm I mean you guys are you guys are just down the road a couple hours so I mean if I you know I love coming to Brickle anyway.
	So just come down whenever you want many you know we do it every Monday bro come whatever Monday you want.
	You let me know yeah definitely all right so guys I think we'll be back and do another one of these on Friday a call on show answering questions.
	The first half will be financial as usual then we'll move over to Rumble and make a dating that's how we'll kind of do it.

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