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Speaker 1: Hey, hey, hey, we're back. We're brown, we're black. We

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Speaker 1: see I switch to order up a little bit. I'm

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Speaker 1: Tiffany and this is brown Ambition, Round Ambition. Yes. Oh, honestly,

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Speaker 1: the people love us, Mandy, Do you realize that?

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Speaker 2: Uh no, but tell me.

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Speaker 1: I spoke at two places this past weekend. I spoke

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Speaker 1: at Black Women Talk Tech, which was really done on

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Speaker 1: fire with honestly engagements. I don't know what's happening. It's

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Speaker 1: like my name is on the list somewhere and they're like,

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Speaker 1: go get her, and I'm like, what really me? But

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Speaker 1: so I spoke there, and then I also spoke at

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Speaker 1: I flew to Vegas for a day to speak at

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Speaker 1: a Black enterprise has this annual conference that's really so

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Speaker 1: call Women of Power, and it's so amazing. But when

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Speaker 1: I tell you, people are like, oh my god, I

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Speaker 1: love your podcast. I love your podcast. Oh my god,

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Speaker 1: coll Madie, I said, hi, oh my god, and I'm

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Speaker 1: like wow. Before it used to be like, you know,

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Speaker 1: like you know one in one and four and then

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Speaker 1: one and two. Now everybody will run down. They're like,

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Speaker 1: oh my god, I love the ba Janie Stead, Oh

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Speaker 1: my god, I love brand A Bishen and I'm a

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Speaker 1: dream catcher. It's like they have to check off the list,

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Speaker 1: but Brand Ambish is always on my list. Now.

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Speaker 2: I love that, you know what I love. And this

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Speaker 2: is when you know, like when you're you know, my

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Speaker 2: little brother is like so cool, like so cool. He

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Speaker 2: is five years younger than me and just cooler than

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Speaker 2: me and every other single way. But his friends when

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Speaker 2: they like he he just started a book club because

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Speaker 2: he's trying to, you know, stay woke with it. And

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Speaker 2: he had his first book club meeting and he was like,

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Speaker 2: one person found out that you're my sister, and then

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Speaker 2: we just talked about that the whole time.

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Speaker 1: I love that you favorite. Yeah.

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Speaker 2: I was like, ooh when when my friend when his

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Speaker 2: friends know me, then he's that's when he pays attention.

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Speaker 2: And he's like, oh, but that podcast that you're doing,

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Speaker 2: yeah relegit.

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Speaker 1: Yeah that's awesome.

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Speaker 2: Oh that's so great though.

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Speaker 1: Yeah.

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Speaker 2: The love is the love is mutual. You guys, I

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Speaker 2: still can't believe you've been at this for nearly four years.

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Speaker 1: I know, it's it's like a it's a it's past

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Speaker 1: toddler stage. We are officially in preschool.

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Speaker 2: And the people still love it, So that's exciting all

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Speaker 2: the traveling. I'm trying to plan a little spring, little

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Speaker 2: spring break kind of vacation for myself. I need. I realized.

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Speaker 2: I don't think I've taken a proper vacation in a while,

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Speaker 2: so it is high time.

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Speaker 1: What are you thinking about going?

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Speaker 2: I was looking at Charleston because you know, I have

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Speaker 2: a soft spot for a soft spot for Savannah, Georgia.

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Speaker 2: I got married there. I'm from Georgia. I love Savannah,

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Speaker 2: but people are always throwing shade and saying that Charleston

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Speaker 2: is better than Savannah, and I just feel like I

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Speaker 2: need to figure it out. I need to find out

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Speaker 2: for real.

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Speaker 1: So yeah, well, first of all, you already know I

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Speaker 1: love Savannah. I was so happy when you got married there.

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Speaker 1: I was like, yes tooper like my favorite American cities,

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Speaker 1: And I'm Charleston this weekend. No way? Yeah, well cause

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Speaker 1: I so I'm speaking at south By Southwest and I

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Speaker 1: link tomorrow in Austin, and then I'm speaking at this

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Speaker 1: Black Expo, Black and Financial Empowerment Expo, and it's in Charleston.

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Speaker 1: And I didn't even realize because sometimes I want to

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Speaker 1: look at my schedule till a couple of days before.

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Speaker 1: And I've always wanted to go to Charleston because, like you,

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Speaker 1: I freaking love Savannah. So now I'm excited. I'm like, yes,

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Speaker 1: I love old houses. I cannot wait to see Charleston.

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Speaker 2: Oh okay, Well you find out where all the good

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Speaker 2: food spots are and then let me know, because that's

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Speaker 2: half Once. Once I'm planning a vacation. Now I'm just

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Speaker 2: getting so I'll just get tired, just like sitting down

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Speaker 2: to planet, like where are we going to stay? What

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Speaker 2: are we going to eat? I just wish someone would

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Speaker 2: do it for me. So you do their research and

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Speaker 2: then you know.

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Speaker 1: I'm honestly and I'm like a very touristy tourist, you know,

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Speaker 1: the first time I go to someplace, like I'm the

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Speaker 1: types of like, no, I want to know the torsty places.

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Speaker 1: I want to take a picture next to the big Fork,

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Speaker 1: and I want to you know, like I want to

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Speaker 1: do all of those things. So I definitely will.

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Speaker 2: There's a thing wrong with that. I'll whip the selfie

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Speaker 2: stick out.

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Speaker 1: But yeah, that's crazy, I'm not doing that.

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Speaker 2: That's like, that's that's the one silver lining of the

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Speaker 2: house spending is that We've built up enough points that

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Speaker 2: we don't have to pay for airfare, and I love

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Speaker 2: like the East Coast cities. It's just you know, in essence,

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Speaker 2: we're in New York. It's it's really cheap to fly

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Speaker 2: to some of these towns on the East Coast. So

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Speaker 2: that's why we tend to stick closer to home. But

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Speaker 2: looking forward to it, got to figure out what we're

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Speaker 2: gonna do with Molly, I know, Walker, Oh and shout

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Speaker 2: out to the listener who sent me a sweet she

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Speaker 2: called me Molly. She's like, I have a message for

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Speaker 2: Molly's mom. Real talk. I am walking around this house

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Speaker 2: saying things. I'm like, I am turning into my mother

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Speaker 2: or not my mother, but like a like a stern

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Speaker 2: pre k teacher, is how I sound. I am just

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Speaker 2: like no, ma'am, No, ma'am. We do not bark, ma'am,

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Speaker 2: just like we don't. We don't ask for food like that,

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Speaker 2: miss ma'am.

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Speaker 1: Who am icho tea? I means like very well done,

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Speaker 1: because you know you like you don't want these the

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Speaker 1: herts boys, but you want to.

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Speaker 2: Be firm, and we do not bark like that.

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Speaker 1: But oh bye, you don't have food.

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Speaker 2: One of our listeners shouted out because I was. I

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Speaker 2: was whining about how expensive like pet Co was for

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Speaker 2: all of Mollie's toys and everything, and she mentioned Chewy

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Speaker 2: dot com, like Chew like a toy, and I'm obsessed.

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Speaker 2: My mom and my sister both have dogs, and they

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Speaker 2: were like, what you don't know about Chewy? So Chewy

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Speaker 2: has affordable food and they do delivery and stuff. So

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Speaker 2: I'm gonna check them out.

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Speaker 1: I know, maybe one day, one day, I could see

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Speaker 1: myself one day with a dog, maybe.

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Speaker 2: As a person who has anxiety. It is. She's been

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Speaker 2: so helpful for me to just like, calm down, just

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Speaker 2: calm down and pet the dog. Yeah.

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Speaker 1: I know, they just seem so lovable, but they also

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Speaker 1: seem like so much work.

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Speaker 2: You have to get a good one. I mean, we've

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Speaker 2: got really lucky with Mollie. You know, behavioral why she

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Speaker 2: doesn't have any issues. She's not snapping at us, she's

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Speaker 2: not peeing all over the floor, she's not a puppy.

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Speaker 2: I made a point to get a dog that was

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Speaker 2: house trained. That was a big thing for me. She's

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Speaker 2: not unsafe for people to be around, so I don't

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Speaker 2: feel like I have to change my lifestyle, Like we

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Speaker 2: had all kinds of babies and people over last weekend

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Speaker 2: and Molly was great. So you have to find the

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Speaker 2: right fit for you, and it is a lot of

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Speaker 2: work it can be. And I'm not saying that dogs

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Speaker 2: who have those issues aren't worthy of adoption, but for

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Speaker 2: our lifestyle, Mollie she was and it was the right

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Speaker 2: time too, right time.

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Speaker 1: And like Leila has been seeing like a friend of mine,

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Speaker 1: she's like meeting like her her Beyonce of her industry.

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Speaker 1: I think this woman like she's like like high finance,

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Speaker 1: so like she like has like three trillion dollars on

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Speaker 1: the asset. I forget what companies she works for. So

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Speaker 1: my friend used to work for Golden Sax and she

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Speaker 1: someone heard her gushing over I wish I knew the

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Speaker 1: name of this woman. So I heard her gushing over

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Speaker 1: this woman's so she's actually having a h at lunch

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Speaker 1: with her and she was like she posted on NIGI

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Speaker 1: and was like, you know what, if any questions do

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Speaker 1: you have for let me see if I can find her name,

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Speaker 1: because I gus she was just like gushing like this

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Speaker 1: woman is everything that was like trillion under assets of

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Speaker 1: one of the things I know she said that she

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Speaker 1: wanted to ask her, is you know do people still

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Speaker 1: question you despite you being so okay? I found her name.

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Speaker 1: Her name is Susan Shank when she wrote she's the

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Speaker 1: Beyonce finance and that's what I call her, nothing but respect.

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Speaker 1: She's managed two trillion of two trillion dollars of transactions.

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Speaker 1: She's also the first black woman to head a publicly

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Speaker 1: traded financial institution, and so she's always wanted to be

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Speaker 1: like her. She's an engineer, an NBA grad turned financier,

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Speaker 1: and she is loved by her city of Detroit. So

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Speaker 1: so my friend is super brilliant. She's managed nearly eight

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Speaker 1: billion dollars on her assets. She's worked for Golden Sacks.

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Speaker 1: My friend Natasha, and I just thought to myself, and

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Speaker 1: this woman is married. I don't know if she has children,

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Speaker 1: but I remember this thinking to myself, like because the

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Speaker 1: question I wanted to ask is like, what did she

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Speaker 1: have to say no to in order to say yes

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Speaker 1: to family? You know that's a good question because you know,

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Speaker 1: as we get like a little bit older, you know,

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Speaker 1: before I'm like, I don't say no to any like

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Speaker 1: I'm going to say yes to everything. And to your point,

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Speaker 1: I've been doing a lot of like travel and speaking

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Speaker 1: and this and that, but like, for the first time,

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Speaker 1: there is more requests than I have than I have

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Speaker 1: space for it. So usually I don't I only say no.

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Speaker 1: I only had to say no to a request because

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Speaker 1: it wasn't a fit. I'm like, no, it's not a fit,

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Speaker 1: or no I don't believe in that mission, or no,

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Speaker 1: you know, whatever reason. But it was never because like, okay,

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Speaker 1: I honestly I don't have the capacity even though it's

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Speaker 1: something i'd like to do. This is the first time

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Speaker 1: ever that there are things coming in and I'm like,

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Speaker 1: oh my god, I want to do it. Oh my gosh,

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Speaker 1: I don't have the capacity. So it's just and it

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Speaker 1: is mostly because of family planning, you know, not necessarily

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Speaker 1: because I don't have any time. And so it's like, ah,

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Speaker 1: so there's this weird poll where I'm like, oh my gosh,

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Speaker 1: I want to go for.

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Speaker 2: It, but I think it's time for us to have

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Speaker 2: for a new Shaw on the show. Yeah, I do,

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Speaker 2: and I better to talk about balancing work with family

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Speaker 2: and having a career similar to what you do. We

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Speaker 2: need to have new Shawn.

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Speaker 1: It's high time, yes, because it's I you know, it's

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Speaker 1: it's definitely a struggle, you know, and so I'm just like, okay,

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Speaker 1: what how you know, because there's definitely this fear that like, Okay,

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Speaker 1: so if I get pregnant, then you know, then I

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Speaker 1: you know, like I'm gonna have to stop traveling at

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Speaker 1: some point then the baby's gonna be here. So I'm

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Speaker 1: not gonna really want to travel for a while. What

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Speaker 1: if that's a whole year, you know, like, you know,

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Speaker 1: can you take a year off and be like Beyonce

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Speaker 1: be back or would you take a year off and

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Speaker 1: come back? Like Voice to Men, like the genre has

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Speaker 1: moved on, you know what.

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Speaker 2: I mean, A Bruno much brought it back a little bit.

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Speaker 1: You know, but I'm just exactly, but you know, they

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Speaker 1: moved on from boys to men. Voice to Men was

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Speaker 1: the biggest thing out Mandy. I don't want to be

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Speaker 1: boys to men.

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Speaker 2: I have a feeling. I mean, I don't have all

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Speaker 2: the answers. I have no children, nor do I have

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Speaker 2: a speak career. And you know the same way you do.

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Speaker 2: But let me offer my free advice. But I feel

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Speaker 2: like you're not going to be able to be out

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Speaker 2: of the picture for a year. I think that I

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Speaker 2: just I don't think that you'll be able to do it.

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Speaker 2: It's just that, not that I'm saying you would like

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Speaker 2: sacrifice what's good for your family to do it, but

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Speaker 2: I think you're going to find a way to make

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Speaker 2: both happen. And like I've seen people like for a

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Speaker 2: news to it, and I feel like it's really possible.

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Speaker 2: And like what she says about and what she has

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Speaker 2: said before when I've heard her talk about it, is

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Speaker 2: like when becoming a mother made her more successful, made

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Speaker 2: her even attract more wealth because she became more particular

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Speaker 2: about what she said yes too, and she asked for

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Speaker 2: more because she needed to ask for more from the

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Speaker 2: specific opportunities so that she could do less of them,

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Speaker 2: you know. And I mean, I'm just making up things.

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Speaker 2: I'm not making up, but putting words in her mouth

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Speaker 2: a little bit. And then she actually wrote a column

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Speaker 2: that I just read. I think it was for Refinery

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Speaker 2: twenty nine, like about some of the myths or not

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Speaker 2: some of the myths, but some of the advice she

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Speaker 2: has for working mom. And one of them that I

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Speaker 2: was like doing snaps on the train too, was how

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Speaker 2: she says when women have children, you have to go

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Speaker 2: back to work, like you have to because the world,

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Speaker 2: the wealth that you're missing out on accumulating, you know,

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Speaker 2: over the years, can really hurt you and hinder you,

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Speaker 2: and especially if you're well it's obviously single mothers don't

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Speaker 2: have a choice. You have to work for your child.

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Speaker 2: But if you're in a dual income household, it's still

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Speaker 2: important for the mother to get back out there and

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Speaker 2: to not be out of the workforce for too long.

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Speaker 2: So you know, Okay, now she needs to come.

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Speaker 1: On nus knows. I'm like, no, honestly, I would really

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Speaker 1: love to have her, just because it's like a like

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Speaker 1: before it was like, oh, I can totally see you know,

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Speaker 1: but now I'm like, oh my gosh, because there's even

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Speaker 1: things now where I'm like, oh, well, I don't know.

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Speaker 1: That's like, you know, eight months from now. So I'm like, oh, yes,

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Speaker 1: I would love to do that thing. Wait wait, what

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Speaker 1: if I can't. And so there's all of these like

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Speaker 1: clauses now that I have to like keep in mind,

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Speaker 1: And so yeah, it's just I mean, I know, I

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Speaker 1: remember Patrice uh of Washington, one of our faves. She

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Speaker 1: said something to the fact was she she had just

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Speaker 1: taken time off to take time off, and she was like,

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Speaker 1: you know, and I don't know that it was a

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Speaker 1: whole year, but she took time off, and she was like, girl,

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Speaker 1: you know, if you built up enough of a of

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Speaker 1: a business of like you know, just like a good

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Speaker 1: solid business that she was like, it didn't, it didn't

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Speaker 1: hurt her business because it just made her more conscious

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Speaker 1: about choosing just the right thing. Actually, was gonna reach

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Speaker 1: out to my friend Lovely because she has a podcast

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Speaker 1: called Jesus and Jealoff with the other girl, eyvon Ogi,

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Speaker 1: and she she actually she has a checklist. She said

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Speaker 1: that she hasn't. Actually, I was gonna, I was gonna

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Speaker 1: hit Lovey up, love if you listen, hey, girl, because

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Speaker 1: I love He's been the guests on our show. Because

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Speaker 1: there's a checklist that she's created. Because Lovey speaks like

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Speaker 1: for a living. I mean, she she's got a New

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Speaker 1: York Times bestseller and other things, but I would say

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Speaker 1: the core of most of her income, as far as

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Speaker 1: I can see from the outside anyway, it's speaking and

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Speaker 1: love speaks like like you know, one hundred to two

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Speaker 1: hundred days out of the year, so like significant amount

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Speaker 1: of days, and so she said, because she gets so

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Speaker 1: many amazing opportunities and she can't say yes to them

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Speaker 1: all because some of them land on the same day

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Speaker 1: that she created a checklist to say, Okay, it's got

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Speaker 1: to do at least six out of the ten. So

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Speaker 1: that was something I told myself, like, you know what,

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Speaker 1: you know, I can't remember what was on her checklist,

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Speaker 1: So I was going to reach out just to ask

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Speaker 1: and then like, you know, look at it and then

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Speaker 1: add it to my own so it can help me

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Speaker 1: to make, you know, better decisions. Like just today, I

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Speaker 1: just got so many offers today and I was just like, oh,

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Speaker 1: I would love to say I mean two thousand and ten.

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Speaker 1: Tiffany is like, oh my god, who's that? Is this?

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Speaker 1: You want? Twenty nineteen? Tifany, It's like, oh, I need

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Speaker 1: to take an ask. Hey.

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Speaker 2: One thing I'm trying to figure out is tax season.

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Speaker 2: Oh yeah, I still haven't Paul, where are you at?

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Speaker 1: Man?

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Speaker 2: Where are my taxes? That he's still he's had them for?

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Speaker 2: Like what's the good turnaround he's had over two weeks?

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Speaker 2: And I'm just like, can I fill up now? Like

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Speaker 2: I want to know my fate our listeners. So as promised,

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Speaker 2: we are finally getting around to our tech show today

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Speaker 2: tex Tuesday.

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Speaker 1: Yes, and we've got a special guest who I'm super

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Speaker 1: excited about. So let me introduce you to Terry Chantel.

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Speaker 1: So I'm at Terry because like maybe I want to say,

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Speaker 1: maybe a year ago or maybe a year before that,

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Speaker 1: I was getting so you guys know, I have a

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Speaker 1: Facebook group called Dreamcatchers. It's like a few hundred thousand women,

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Speaker 1: and this woman's video kept getting posted over and over

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Speaker 1: and over, and she had a couple of videos go viral,

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Speaker 1: and I think she reached out to me, or maybe

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Speaker 1: I reached out to her, and she was like, yeah,

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Speaker 1: I'm sorry because we have kind of a rule about

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Speaker 1: like videos in the group because most of the videos

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Speaker 1: in the group, you know, they're like me meme esque videos,

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Speaker 1: So we have a rule like you can't post videos

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Speaker 1: in the group. But I, you know, I let hers

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Speaker 1: rock because they weren't like, you know, these weren't like

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Speaker 1: videos of like you know, I don't know, kids getting

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Speaker 1: cheese thrown in their face. You know, that's a real

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Speaker 1: challenge right now, kids getting cheat thrown on your face.

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Speaker 2: I have so little faith in.

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Speaker 1: Humanity, right now I know and so like, and so

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Speaker 1: I reached out to her and I was like, wow,

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Speaker 1: you's so amazing. And so Terry is a financial educator.

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Speaker 1: She is a tax educator, especially to entrepreneurs. She's a

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Speaker 1: credit educator. She's just really bright and brilliant. And so

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Speaker 1: after watching her videos I shared done with my accountain Carlo.

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Speaker 1: He was like, wow, she's really on point. Then I

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Speaker 1: invited her to teach inside the Academy and she's taught

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Speaker 1: a number of classes and actually wrote one of our intensives,

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Speaker 1: which is like a three week long course in inside

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Speaker 1: the Academy, which everyone is like, it's amazing. Terry is

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Speaker 1: just dynamic, she's smart, she's sharp, and so when we

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Speaker 1: were going to have our text episode, I was like,

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Speaker 1: oo oh, let's invite Terry, and Baby said, okay.

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Speaker 2: So Terry, good recap, good recap. Yeah, I'm super excited

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Speaker 2: to have her on. We have I've shaken out the

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Speaker 2: reader mail bag and if you if you sent in

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Speaker 2: a text question, thank you so very much for your questions.

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Speaker 2: I've got a handful that we will cover with Terry

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Speaker 2: on Today show. And then, as always, if you know,

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Speaker 2: new questions pop up for you feel free to send

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Speaker 2: us an email at briannabis podcast at gmail dot com,

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Speaker 2: or you can hit us up at Briannabisson podcast dot

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Speaker 2: com and click ask us anything to shoot us your message.

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Speaker 2: So we'll take a little short break and we'll come

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Speaker 2: back with Terry Chantel.

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Speaker 1: We are back from our break, and I'm super excited

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Speaker 1: because Terry is here. The crowd goes wild. You got

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Speaker 1: the amazing question that you guys at over to jump

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Speaker 1: to right right and you ready.

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Speaker 3: I am ready, glad, lad be here.

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Speaker 2: Awesome. So let's kick off things with a question from

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Speaker 2: an anonymous listener. This is someone who's working in the

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Speaker 2: gig economy, so they're a freelancer and wanting to have

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Speaker 2: some tax advice. So Terry, here's a question from our

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Speaker 2: anonymous listener. I'm trying to get out of debt and

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Speaker 2: I decided to pick up some side hustles through the

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Speaker 2: gig economy. I've looked into some of these websites like

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Speaker 2: task Rabbit, upwork, and flex and realized that I'd be

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Speaker 2: considered a quote unquote contractor and I should expect to

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Speaker 2: receive a ten ninety nine tax form from them. Can

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Speaker 2: you go through the pros and cons of pursuing this

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Speaker 2: type of side hustle. Is it really worth it? Or

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Speaker 2: will I regret it later when tax season comes around.

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Speaker 2: Your thoughts and advice are greatly appreciated. Good questions. There

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Speaker 2: are so many people. You know, I just walked, I

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Speaker 2: had my dog walk today by like the uber of

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Speaker 2: dog walking, and the guy was like, I just wanted

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Speaker 2: to make some extra money. So there's so many folks

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Speaker 2: out there who are like ubering and task rabbiting to

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Speaker 2: make extra cash. So what should they consider before they

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Speaker 2: start making that extra money?

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Speaker 4: Terry, Well, first thing is we are in a pay

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Speaker 4: as you go system. So whether you're making money with

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Speaker 4: a job or as a side hustle, you're required to

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Speaker 4: pay taxes. And so what a ten ninety nine does

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Speaker 4: is require you to report that income to the IRS.

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Speaker 4: So mindset shift number one. I have to pay taxes.

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Speaker 4: The goal is to pay the least amount of taxes.

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Speaker 4: So the great thing about having a side hustle that's

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Speaker 4: a gig. The major con is that although you're making money,

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Speaker 4: you get to write off business expenses. So it's actually

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Speaker 4: a great thing to be considered a contractor in many situations,

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Speaker 4: versus as employee. As an employee, for example, Mandy likes

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Speaker 4: say that dog walker, if he worked for dog Walkers

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Speaker 4: of America, he would get paid I don't know, you know,

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Speaker 4: two hundred dollars a week, and they would automatically take

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Speaker 4: those taxes out of and he would have no choice

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Speaker 4: as to the amount of taxes that will be taken out.

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Speaker 4: But let's say it's Brad's dog walking business and it's

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Speaker 4: his side hustle. Well, he made two hundred dollars, but

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Speaker 4: he gets to write off any expense that went into

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Speaker 4: that business, so the flyers that he put out, the

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Speaker 4: website that he built, the leashes that he bought. So

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Speaker 4: he made two hundred dollars, but he could probably write

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Speaker 4: off half of that and not pay taxes on half

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Speaker 4: of the money that he made. So really, in many situations,

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Speaker 4: when it comes to a side hustle, the pro is

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Speaker 4: that it's a business expense. So go ahead and let

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Speaker 4: them give you that ten ninety nine because you're going

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Speaker 4: to give the irs those business expenses and you're good

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Speaker 4: to go.

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Speaker 2: Oh yeah, quick question. So with tax reform, I know

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Speaker 2: that some thing's changed. For yeah, the great minds think

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Speaker 2: alike uh, some things have changed for people who are

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Speaker 2: considered like sole proprietors or people who are basically a

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Speaker 2: business of one has has any of that changed the

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Speaker 2: advice around people in the gig economy.

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Speaker 4: No, most of the changes in terms of eliminations and

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Speaker 4: things that aren't so you know, there are the negative

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Speaker 4: changes happened on the personal side. Actually, some improvements have

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Speaker 4: happened on the business side with the incorporation of some

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Speaker 4: credits for higher earners on the self employment side, but

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Speaker 4: really that side hasn't changed as much, and those bigger

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Speaker 4: changes are more they are on the side of corporations

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Speaker 4: and c corps, those big headliners that you see.

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Speaker 3: But for what we're talking about.

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Speaker 4: Self employed, solopreneurs, hot side hustlers, you don't see a

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Speaker 4: big change.

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Speaker 1: Good to know, Yes, okay, well, we have another question

431
00:20:46,800 --> 00:20:50,520
Speaker 1: coming in from New York. This is from Chris. I

432
00:20:50,520 --> 00:20:53,640
Speaker 1: don't see you say, I can't use your name. Chris

433
00:20:53,760 --> 00:20:55,520
Speaker 1: telling us how much she loves the show, and then

434
00:20:55,560 --> 00:20:59,119
Speaker 1: she says, I am a notary signing agent a contract

435
00:20:59,119 --> 00:21:01,680
Speaker 1: with banks and different different companies to meet with clients

436
00:21:01,680 --> 00:21:06,000
Speaker 1: to notarize mortgage documents, refinance documents, etc. Lately, I've been

437
00:21:06,000 --> 00:21:08,920
Speaker 1: getting more assignments than I did in my first year

438
00:21:09,560 --> 00:21:11,840
Speaker 1: and would like to know when it's best to create

439
00:21:11,840 --> 00:21:14,920
Speaker 1: a business to continue this work. Is there a cap

440
00:21:14,960 --> 00:21:17,160
Speaker 1: on how much a person can make as a contractor

441
00:21:17,160 --> 00:21:19,919
Speaker 1: before they will have to pay back taxes to steak

442
00:21:20,000 --> 00:21:23,440
Speaker 1: in federal For example, I'm already over six hundred dollars

443
00:21:23,600 --> 00:21:27,360
Speaker 1: earnings for twenty nineteen versus twenty eighteen, I only made

444
00:21:27,400 --> 00:21:30,600
Speaker 1: eight hundred for the total year. If there's no cap,

445
00:21:30,680 --> 00:21:33,679
Speaker 1: is it safe to continue to work as a contractor? Also, today,

446
00:21:33,720 --> 00:21:36,520
Speaker 1: I have not received any tax documents for twenty eighteen

447
00:21:36,560 --> 00:21:39,719
Speaker 1: from the companies I've contracted on work for. But I

448
00:21:40,400 --> 00:21:42,520
Speaker 1: but I do keep tracking, so I get.

449
00:21:42,320 --> 00:21:46,480
Speaker 4: This question a lot working with newer business owners a lot.

450
00:21:46,600 --> 00:21:49,080
Speaker 4: The biggest myth is that you have to do something

451
00:21:49,280 --> 00:21:52,439
Speaker 4: special to become a business. But according to the IRS,

452
00:21:52,720 --> 00:21:56,800
Speaker 4: the moment you engage in an activity where the intent

453
00:21:56,960 --> 00:21:59,840
Speaker 4: is to profit, you are a business. You are a soul,

454
00:22:00,520 --> 00:22:02,560
Speaker 4: and by law, you should report that income.

455
00:22:02,920 --> 00:22:03,240
Speaker 3: That's it.

456
00:22:03,359 --> 00:22:05,159
Speaker 4: You don't have to be in LLC, you don't have

457
00:22:05,240 --> 00:22:07,159
Speaker 4: to go downtown to get a DBA, you don't need

458
00:22:07,200 --> 00:22:09,919
Speaker 4: a website. If you said I'm opening up shop and

459
00:22:09,960 --> 00:22:14,359
Speaker 4: it's for profit, then you are a business. So as

460
00:22:14,440 --> 00:22:17,680
Speaker 4: you are running and growing that business, becoming an LLC

461
00:22:17,960 --> 00:22:20,919
Speaker 4: doesn't have as much to do with income as it

462
00:22:20,960 --> 00:22:25,680
Speaker 4: has to do with protection from liability of running that business.

463
00:22:26,000 --> 00:22:29,840
Speaker 4: In LLC is a formal business entity that gives you

464
00:22:30,000 --> 00:22:34,240
Speaker 4: limited liability protection. Basically, in Layman's term, that means that

465
00:22:34,720 --> 00:22:38,040
Speaker 4: you and your business are separate entities. So if you

466
00:22:38,080 --> 00:22:40,680
Speaker 4: are a sole proprietor you're just out there doing your thing,

467
00:22:41,040 --> 00:22:43,240
Speaker 4: then if someone wanted to sue you, Let's say you're

468
00:22:43,280 --> 00:22:46,040
Speaker 4: that dog walker and that dog got hurt, well they

469
00:22:46,080 --> 00:22:49,520
Speaker 4: would sue you and you as a person. So your

470
00:22:49,560 --> 00:22:52,199
Speaker 4: personal assets, anything that you have up for grabs that

471
00:22:52,200 --> 00:22:55,800
Speaker 4: they can use, they can go after it legally. But

472
00:22:55,960 --> 00:22:59,720
Speaker 4: if that dog walker was in LLC, then only that

473
00:22:59,760 --> 00:23:03,639
Speaker 4: as sets that that separate entity that that business owns

474
00:23:04,080 --> 00:23:06,720
Speaker 4: can be up for grabs in the lawsuit. So the

475
00:23:06,840 --> 00:23:09,960
Speaker 4: question really is is what is the risk that I'm

476
00:23:10,000 --> 00:23:13,720
Speaker 4: taking out here operating not as an LLC. Whether you're

477
00:23:13,760 --> 00:23:18,239
Speaker 4: making one dollar or ten thousand dollars, it's about the

478
00:23:18,440 --> 00:23:21,200
Speaker 4: risk and that's something that you should seek a professional

479
00:23:21,280 --> 00:23:23,159
Speaker 4: if you want to form and kind of form that

480
00:23:23,320 --> 00:23:25,560
Speaker 4: entity and kind of do some deeper research. But I

481
00:23:25,560 --> 00:23:28,800
Speaker 4: wouldn't attach that decision to money as much as I

482
00:23:28,800 --> 00:23:31,280
Speaker 4: would attach it to the risk in that type of

483
00:23:31,320 --> 00:23:32,680
Speaker 4: business that you're running running.

484
00:23:34,400 --> 00:23:37,359
Speaker 2: What about what about Chris's or not? Chris? Yes, Chris,

485
00:23:37,560 --> 00:23:42,080
Speaker 2: Sorry Chris? What about Chris's second question? Which is you know?

486
00:23:42,160 --> 00:23:45,159
Speaker 2: For example? I see this question a lot because in

487
00:23:45,480 --> 00:23:47,800
Speaker 2: my in my day job, we work with a lot

488
00:23:47,800 --> 00:23:50,040
Speaker 2: of freelance writers and a couple of them have come

489
00:23:50,119 --> 00:23:52,320
Speaker 2: up this year already and saying, Hey, I haven't gotten

490
00:23:52,320 --> 00:23:55,119
Speaker 2: my ten ninety nine tax form from you guys for

491
00:23:55,160 --> 00:23:58,680
Speaker 2: twenty eighteen. Where it at? Though? So Chris, Chris wants

492
00:23:58,720 --> 00:24:00,800
Speaker 2: to know, because what it's you say, she made eight

493
00:24:00,880 --> 00:24:03,359
Speaker 2: hundred dollars last year, she hasn't gotten any tax forms

494
00:24:03,359 --> 00:24:05,840
Speaker 2: from those companies? What should she do?

495
00:24:07,080 --> 00:24:09,480
Speaker 4: You still report the income. So I'll give a little

496
00:24:09,520 --> 00:24:12,720
Speaker 4: behind the scenes, quick kind of peak when you're a

497
00:24:12,760 --> 00:24:15,960
Speaker 4: tax preparer, and let's say if you gave me fifteen

498
00:24:16,080 --> 00:24:18,919
Speaker 4: ten ninety nine from all of the websites that you

499
00:24:18,960 --> 00:24:21,879
Speaker 4: wrote an article for. Really, what happens in the tax

500
00:24:21,920 --> 00:24:25,320
Speaker 4: software is we just add them all up. It's really

501
00:24:25,520 --> 00:24:29,000
Speaker 4: just a ten ninety nine is proof that the company

502
00:24:29,040 --> 00:24:33,400
Speaker 4: you worked for actually reported that income to the IRS

503
00:24:33,600 --> 00:24:36,399
Speaker 4: because as a company, as a business owner, I am

504
00:24:36,480 --> 00:24:40,560
Speaker 4: required to report the money that I paid to independent

505
00:24:40,560 --> 00:24:43,600
Speaker 4: contractors because IRS wants to know every dollar that everybody

506
00:24:43,640 --> 00:24:48,320
Speaker 4: makes and it's their way of having a documentation of that.

507
00:24:48,800 --> 00:24:51,800
Speaker 4: So if Mandy you wrote an article for me and

508
00:24:51,840 --> 00:24:54,840
Speaker 4: I paid you six hundred dollars, I'm going to create

509
00:24:54,880 --> 00:24:56,639
Speaker 4: a ten ninety nine. I'm going to send one to

510
00:24:56,680 --> 00:24:59,320
Speaker 4: the IRS and say, hey, IRS, I paid Mandy six

511
00:24:59,359 --> 00:25:01,639
Speaker 4: hundred dollars, and then I'm going to give you one.

512
00:25:01,920 --> 00:25:04,680
Speaker 4: So the IRS knows about this money. So you can't

513
00:25:04,720 --> 00:25:07,840
Speaker 4: ignore that ten ninety nine because they already know you

514
00:25:07,840 --> 00:25:10,240
Speaker 4: made it. They're going to come looking for you and say, hey,

515
00:25:10,320 --> 00:25:12,080
Speaker 4: we know you made some money, but you didn't put

516
00:25:12,119 --> 00:25:12,320
Speaker 4: it on.

517
00:25:12,320 --> 00:25:13,040
Speaker 3: Your tax return.

518
00:25:13,280 --> 00:25:15,800
Speaker 4: But the other half of that question is whether I

519
00:25:15,880 --> 00:25:18,800
Speaker 4: give you a ten ninety nine or not. Legally, you

520
00:25:18,960 --> 00:25:22,879
Speaker 4: still are supposed to report that money. Remember what I

521
00:25:22,920 --> 00:25:25,280
Speaker 4: said earlier is that the IRS says if you are

522
00:25:26,040 --> 00:25:30,760
Speaker 4: operating in any activity for a profit, then you're supposed

523
00:25:30,800 --> 00:25:33,680
Speaker 4: to report that money and a lot and you may

524
00:25:34,119 --> 00:25:36,399
Speaker 4: fly below the radar if it's you know, one hundred

525
00:25:36,400 --> 00:25:38,639
Speaker 4: dollars here or two hundred dollars there. But when it

526
00:25:38,640 --> 00:25:41,200
Speaker 4: becomes big money, that's when you see those big tax

527
00:25:41,240 --> 00:25:44,879
Speaker 4: evasion stories that you see celebrities you know are getting

528
00:25:44,920 --> 00:25:47,720
Speaker 4: into big trouble because they didn't get a ten ninety

529
00:25:47,800 --> 00:25:49,639
Speaker 4: nine for all that money they've made, but they should

530
00:25:49,640 --> 00:25:52,360
Speaker 4: have reported it some kind of way. The IRS got

531
00:25:52,400 --> 00:25:55,520
Speaker 4: wind of it. So some companies like Uber, for example,

532
00:25:55,520 --> 00:25:58,520
Speaker 4: I have clients that drive for Uber. They will not

533
00:25:58,680 --> 00:26:01,240
Speaker 4: send their drivers ten ninety n if they made less

534
00:26:01,280 --> 00:26:04,359
Speaker 4: than ten thousand dollars because it's a cost to them.

535
00:26:04,600 --> 00:26:06,840
Speaker 4: So what they'll do they'll just kind of give you, like,

536
00:26:06,960 --> 00:26:08,919
Speaker 4: you know how much you made, just go report it.

537
00:26:09,320 --> 00:26:11,120
Speaker 2: No, that's great to know. I can just tell these people,

538
00:26:11,160 --> 00:26:13,359
Speaker 2: why are you hounding me? Like I could send an

539
00:26:13,400 --> 00:26:15,320
Speaker 2: email to accounts payable and give and it will take

540
00:26:15,359 --> 00:26:17,000
Speaker 2: three weeks to get back to you. Or you could

541
00:26:17,040 --> 00:26:19,320
Speaker 2: just you know, I can tell you how much you spent,

542
00:26:19,359 --> 00:26:20,840
Speaker 2: how much we paid you last year, and you can

543
00:26:20,920 --> 00:26:21,480
Speaker 2: just go file.

544
00:26:22,040 --> 00:26:25,080
Speaker 4: Yeah, they just want to be sure because it's a

545
00:26:25,119 --> 00:26:28,159
Speaker 4: really bad thing if they under report. They just the

546
00:26:28,400 --> 00:26:30,960
Speaker 4: biggest thing is we need to both tell the I

547
00:26:31,119 --> 00:26:34,160
Speaker 4: rs the same number, because if they say one thousand

548
00:26:34,280 --> 00:26:39,440
Speaker 4: and you said twelve hundred, come July first, they will

549
00:26:39,440 --> 00:26:42,119
Speaker 4: send the letter you didn't pay us. You know, you

550
00:26:42,160 --> 00:26:44,040
Speaker 4: said you only made a thousand, but Mandy said you

551
00:26:44,080 --> 00:26:46,840
Speaker 4: made twelve hundred. So it's important that the numbers match,

552
00:26:46,920 --> 00:26:50,280
Speaker 4: but the actual ten ninety nine, the actual paper, is

553
00:26:50,320 --> 00:26:51,560
Speaker 4: not as important.

554
00:26:53,119 --> 00:26:55,760
Speaker 2: Excellent. All right, let's move on to our next question.

555
00:26:56,600 --> 00:26:58,480
Speaker 2: I have lost my place. Here we go. This question

556
00:26:58,520 --> 00:27:02,480
Speaker 2: comes from listener Sure Shar says, I just love you guys,

557
00:27:02,480 --> 00:27:04,600
Speaker 2: and I legit think I know y'all in real life.

558
00:27:04,680 --> 00:27:07,200
Speaker 2: Oh thanks, Shar, So here's her tax question. She also

559
00:27:07,320 --> 00:27:08,800
Speaker 2: knows that I like to get straight to the point

560
00:27:08,800 --> 00:27:12,560
Speaker 2: with my questions. Thank you, Shar, I love it. I

561
00:27:12,600 --> 00:27:15,760
Speaker 2: love a listener who's like, please spare me the five

562
00:27:15,840 --> 00:27:18,680
Speaker 2: paragraphs about you know, your life story. No, I love

563
00:27:18,680 --> 00:27:20,359
Speaker 2: you guys, but thank you for getting to the point.

564
00:27:20,720 --> 00:27:23,800
Speaker 2: All right, Shar says, I withdrew. This is a great question.

565
00:27:23,880 --> 00:27:27,320
Speaker 2: I withdrew ten thousand dollars from my traditional IRA back

566
00:27:27,359 --> 00:27:30,560
Speaker 2: in March of twenty eighteen because I was unemployed. My

567
00:27:30,680 --> 00:27:33,159
Speaker 2: intention was to pay it back when I started to work,

568
00:27:33,400 --> 00:27:35,920
Speaker 2: but I was on this aggressive payoff my debt plan,

569
00:27:36,000 --> 00:27:38,320
Speaker 2: and it slipped my mind. So now I owe the

570
00:27:38,359 --> 00:27:42,879
Speaker 2: irs like five thousand dollars. Oh shar. My question is

571
00:27:42,960 --> 00:27:45,719
Speaker 2: can I pay the five thousand, five hundred dollars of

572
00:27:45,800 --> 00:27:49,320
Speaker 2: the ten thousand dollars back before April fifteenth and it

573
00:27:49,400 --> 00:27:52,040
Speaker 2: offset the withdrawal and I only have to pay taxes

574
00:27:52,080 --> 00:27:55,239
Speaker 2: on the remaining forty five hundred that I owe. Oh

575
00:27:55,320 --> 00:27:57,560
Speaker 2: and I forgot to mention that I also went tax

576
00:27:57,560 --> 00:28:00,760
Speaker 2: exempt for four months. I only paid about six thousand

577
00:28:00,760 --> 00:28:03,600
Speaker 2: dollars in federal taxes of the seventy thousand dollars I

578
00:28:03,640 --> 00:28:07,679
Speaker 2: earned from April to December. How can I decrease the

579
00:28:07,760 --> 00:28:11,240
Speaker 2: money that I owe? That was a complex question, so

580
00:28:11,320 --> 00:28:13,000
Speaker 2: let me know if you want me to back up

581
00:28:13,040 --> 00:28:13,679
Speaker 2: and read anything.

582
00:28:14,080 --> 00:28:18,760
Speaker 4: There are pretty much no exceptions to that penalty. Once

583
00:28:18,760 --> 00:28:21,600
Speaker 4: you would draw that money, you have to pay the

584
00:28:21,600 --> 00:28:23,840
Speaker 4: penalty because you have to remember, the whole point of

585
00:28:23,880 --> 00:28:27,159
Speaker 4: a traditional IRA is to say for a retirement and

586
00:28:27,240 --> 00:28:31,520
Speaker 4: to get you know, a tax deduction. So there's really

587
00:28:31,680 --> 00:28:36,600
Speaker 4: nothing you can do. Typically, some plans will You may

588
00:28:36,680 --> 00:28:39,720
Speaker 4: find an IRA plan that says if you pay it

589
00:28:39,720 --> 00:28:43,200
Speaker 4: back within sixty days or something, like that, but trying

590
00:28:43,240 --> 00:28:45,040
Speaker 4: to pay it back a year and a half later

591
00:28:45,520 --> 00:28:46,200
Speaker 4: won't work.

592
00:28:46,560 --> 00:28:48,440
Speaker 2: What if she'd planned to hide, what could she have done?

593
00:28:48,680 --> 00:28:51,479
Speaker 4: Maybe rolled it over to another plan that had a

594
00:28:51,520 --> 00:28:54,240
Speaker 4: little bit more flexibility, like rolling that over to a

595
00:28:54,360 --> 00:28:59,000
Speaker 4: rock IRA, But even that has certain rules like okay,

596
00:28:59,040 --> 00:29:02,320
Speaker 4: you can withdraw all it but for certain reasons. You

597
00:29:02,360 --> 00:29:06,000
Speaker 4: can withdraw the contributions, or you could tax free, or

598
00:29:06,040 --> 00:29:08,480
Speaker 4: you could withdraw it if you're buying it for a

599
00:29:08,640 --> 00:29:12,080
Speaker 4: house down payment. So she could have had some options

600
00:29:12,120 --> 00:29:14,640
Speaker 4: depending on what she needed that money for, maybe for

601
00:29:14,760 --> 00:29:18,520
Speaker 4: medical expenses. But if you want to get money out

602
00:29:18,560 --> 00:29:20,920
Speaker 4: of your traditional iry, if you're not even sure, like

603
00:29:21,240 --> 00:29:23,680
Speaker 4: what's the rules for the traditional or the rough iry,

604
00:29:24,400 --> 00:29:25,160
Speaker 4: call your plan.

605
00:29:25,000 --> 00:29:26,560
Speaker 3: Provider maybe they can help you out.

606
00:29:26,720 --> 00:29:29,560
Speaker 4: You probably can first roll it over to a plan

607
00:29:29,960 --> 00:29:33,320
Speaker 4: that will accommodate the reason that you're trying to withdraw

608
00:29:33,320 --> 00:29:34,280
Speaker 4: the money money.

609
00:29:34,840 --> 00:29:39,320
Speaker 2: Yeah, and withdrawing funds. Withdrawing funds early from your retirement

610
00:29:39,400 --> 00:29:41,760
Speaker 2: plan is almost always going to end up with that

611
00:29:41,840 --> 00:29:43,840
Speaker 2: tax penalty because they're going to look at it because

612
00:29:44,040 --> 00:29:45,680
Speaker 2: as they should. You know, if you're putting in money

613
00:29:45,680 --> 00:29:48,000
Speaker 2: pre tax that you haven't paid taxes on it yet

614
00:29:48,200 --> 00:29:51,120
Speaker 2: and so they're going to come for it then, and

615
00:29:51,200 --> 00:29:53,960
Speaker 2: I and a or not four one K loans like

616
00:29:54,320 --> 00:29:56,480
Speaker 2: with four one k a retirement plan through your employer

617
00:29:56,880 --> 00:29:59,120
Speaker 2: and correct if I'm wrong, Terry. But some of them

618
00:29:59,160 --> 00:30:02,280
Speaker 2: do offer a one K loan where you do take

619
00:30:02,320 --> 00:30:04,360
Speaker 2: out money and then you pay it off. I've done

620
00:30:04,400 --> 00:30:06,360
Speaker 2: this before, and you pay it off, you know, every

621
00:30:06,400 --> 00:30:09,720
Speaker 2: pay period until it's paid back. But a loan is

622
00:30:09,800 --> 00:30:12,320
Speaker 2: totally different than a withdrawal. It's almost like a personal

623
00:30:12,360 --> 00:30:14,520
Speaker 2: loan where they tell you, Okay, you're gonna have this

624
00:30:14,600 --> 00:30:16,440
Speaker 2: much of a monthly payment and you'll pay it back

625
00:30:16,480 --> 00:30:19,520
Speaker 2: at this point and then it's automatically. It was automatically

626
00:30:19,560 --> 00:30:21,320
Speaker 2: just taken out of my paycheck. I didn't have to

627
00:30:21,320 --> 00:30:23,440
Speaker 2: do anything and I and that way I didn't slip

628
00:30:23,480 --> 00:30:25,280
Speaker 2: my mind, you know, I was always paying it back.

629
00:30:25,720 --> 00:30:27,280
Speaker 2: The risk, of course, with a four to one K

630
00:30:27,400 --> 00:30:29,520
Speaker 2: loan is like if I were to lose my job

631
00:30:29,640 --> 00:30:32,640
Speaker 2: at the time that loan would have become due, it

632
00:30:32,640 --> 00:30:36,719
Speaker 2: could have been it could have been due immediately or

633
00:30:36,760 --> 00:30:39,440
Speaker 2: within thirty to sixty days, and some people may not

634
00:30:39,520 --> 00:30:41,800
Speaker 2: be prepared to pay it back. And if you can't

635
00:30:41,840 --> 00:30:44,280
Speaker 2: pay it back, well, then it becomes a distribution and

636
00:30:44,360 --> 00:30:47,120
Speaker 2: then you have to pay taxes on it. So there's

637
00:30:47,320 --> 00:30:49,320
Speaker 2: any time you're dipping into your nest egg, like your

638
00:30:49,360 --> 00:30:52,240
Speaker 2: retirement fund, whether it be an IRA or four one K,

639
00:30:52,360 --> 00:30:55,160
Speaker 2: there's there's always it's never just easy money. It's never

640
00:30:55,200 --> 00:30:57,040
Speaker 2: going to be easy money with no strings attached.

641
00:30:57,520 --> 00:31:04,400
Speaker 4: Yeah, so right, that is absolutely correct about payment plans. Yes, definitely, definitely,

642
00:31:04,480 --> 00:31:07,840
Speaker 4: the IRS has payment plans. So once she files her taxes,

643
00:31:07,880 --> 00:31:10,640
Speaker 4: she will call them and set up a comfortable plane

644
00:31:11,080 --> 00:31:15,160
Speaker 4: payment plan process for them. And of course they're pretty

645
00:31:15,200 --> 00:31:18,040
Speaker 4: flexible as long as you're paying them. But you do

646
00:31:18,080 --> 00:31:20,080
Speaker 4: want to pay that off because they charge interest on

647
00:31:20,160 --> 00:31:23,360
Speaker 4: it and so on and so, but handle it, don't

648
00:31:23,400 --> 00:31:27,320
Speaker 4: ignore it, and get on some type of plan, so

649
00:31:27,440 --> 00:31:30,200
Speaker 4: they so it doesn't escalate into some sort of, you know,

650
00:31:30,960 --> 00:31:32,520
Speaker 4: garnishing type of situation.

651
00:31:34,360 --> 00:31:36,360
Speaker 1: So she did ask the second question about that she

652
00:31:36,440 --> 00:31:39,120
Speaker 1: did go tax exempt for four months and she only

653
00:31:39,120 --> 00:31:41,120
Speaker 1: paid about six K of the federal taxes of the

654
00:31:41,160 --> 00:31:44,000
Speaker 1: seventy K she earned. Is there anything she can do

655
00:31:43,760 --> 00:31:47,040
Speaker 1: to grease to decrease that money that she owns because

656
00:31:47,040 --> 00:31:49,160
Speaker 1: she she did go without paying taxes for a.

657
00:31:49,160 --> 00:31:52,600
Speaker 4: While, unless she has a business or real estate or

658
00:31:52,640 --> 00:31:56,840
Speaker 4: something to offset that. So that last part of her question,

659
00:31:56,920 --> 00:31:59,680
Speaker 4: how she can how can she decrease the money that

660
00:31:59,720 --> 00:32:02,320
Speaker 4: she That's everything altogether.

661
00:32:02,480 --> 00:32:05,120
Speaker 3: So she's saying, in one, I owe.

662
00:32:04,880 --> 00:32:08,360
Speaker 4: This penalty for my withdrawals, but two, I know that

663
00:32:08,560 --> 00:32:11,960
Speaker 4: I wanted my paychecks to be bigger, so I stop

664
00:32:12,040 --> 00:32:14,240
Speaker 4: them from taking money out of my check. And I

665
00:32:14,400 --> 00:32:17,600
Speaker 4: normally know that I pay about ten K by the

666
00:32:17,640 --> 00:32:19,320
Speaker 4: end of the year, but now I'm only at six.

667
00:32:19,480 --> 00:32:21,560
Speaker 4: Not only am I going to owe that penalty, I

668
00:32:21,600 --> 00:32:24,560
Speaker 4: know I didn't pay into the system like I should have.

669
00:32:25,000 --> 00:32:26,960
Speaker 3: There's not much that.

670
00:32:26,880 --> 00:32:29,600
Speaker 4: She can do at this point, but just, you know,

671
00:32:29,960 --> 00:32:33,880
Speaker 4: go forward and try to come up with something that

672
00:32:34,080 --> 00:32:38,720
Speaker 4: reduces her situation going forward. I'm not sure what her

673
00:32:39,600 --> 00:32:42,480
Speaker 4: details are. She makes seventy K and she pays six K?

674
00:32:42,880 --> 00:32:44,080
Speaker 4: Does she have kids?

675
00:32:44,360 --> 00:32:46,120
Speaker 1: And she going? You know she has?

676
00:32:46,240 --> 00:32:48,200
Speaker 3: It's some strategizing at this point.

677
00:32:48,440 --> 00:32:51,560
Speaker 2: Okay, let's take our last question friend listeners. Summer TIF

678
00:32:51,600 --> 00:32:53,440
Speaker 2: you want to take this one.

679
00:32:53,800 --> 00:32:56,480
Speaker 1: So Summer says, my question is for the future business

680
00:32:56,480 --> 00:32:59,120
Speaker 1: owners out there, like Tiffany, I run a business that

681
00:32:59,160 --> 00:33:00,880
Speaker 1: got to a point where we needed to switch to

682
00:33:00,920 --> 00:33:03,840
Speaker 1: an es corp. Congrats, Summa. Well, I wish I knew

683
00:33:03,840 --> 00:33:07,040
Speaker 1: the implications from this jump. I would have saved so

684
00:33:07,080 --> 00:33:09,440
Speaker 1: much money in time. Job me too, she said, Okay,

685
00:33:09,440 --> 00:33:12,320
Speaker 1: I'm about to launch a new LLC and entity, and

686
00:33:12,360 --> 00:33:13,920
Speaker 1: I want to make sure that she does it right.

687
00:33:14,400 --> 00:33:17,160
Speaker 1: Should she start with an escorp from the very beginning

688
00:33:18,200 --> 00:33:20,680
Speaker 1: or should I wait until a certain point in terms

689
00:33:20,760 --> 00:33:24,200
Speaker 1: of revenue? When does a C corp status make sense?

690
00:33:24,800 --> 00:33:27,880
Speaker 1: I believe that with my current business, before it was

691
00:33:27,920 --> 00:33:31,120
Speaker 1: an es corp, it was classified as a domestic filer.

692
00:33:31,280 --> 00:33:34,720
Speaker 1: It's also confusing. Okay, so let's break it down so one,

693
00:33:34,960 --> 00:33:37,000
Speaker 1: she was at one point, can we just talk about

694
00:33:37,080 --> 00:33:39,520
Speaker 1: the difference between an LLC and an escorp in the

695
00:33:39,520 --> 00:33:41,160
Speaker 1: eye of the of the of taxes.

696
00:33:41,680 --> 00:33:42,960
Speaker 3: Yes, yes, so definitely.

697
00:33:43,480 --> 00:33:46,880
Speaker 4: The biggest reason why es corps are so popular is

698
00:33:46,960 --> 00:33:49,160
Speaker 4: because you can save money.

699
00:33:49,400 --> 00:33:50,600
Speaker 3: That's the high level answer.

700
00:33:51,040 --> 00:33:55,080
Speaker 4: And the way you save that money is you have

701
00:33:55,160 --> 00:33:59,200
Speaker 4: to you can pay less self employment taxes, So Tiffany,

702
00:33:59,320 --> 00:34:02,640
Speaker 4: so the budgeties. As an LLC, everything that you earn

703
00:34:02,800 --> 00:34:06,560
Speaker 4: is considered, you know, self employment income. The moment you

704
00:34:06,600 --> 00:34:09,480
Speaker 4: turn over to an es corp, you can give yourself

705
00:34:09,520 --> 00:34:12,920
Speaker 4: a reasonable salary, and that reasonable salary is not subject

706
00:34:12,960 --> 00:34:16,879
Speaker 4: to those to those taxes. So that's how you save money. So,

707
00:34:16,960 --> 00:34:19,600
Speaker 4: if let's say the business brought in one hundred thousand

708
00:34:19,640 --> 00:34:22,560
Speaker 4: dollars as an LLC, you pay those special taxes on

709
00:34:22,600 --> 00:34:25,640
Speaker 4: that whole hundred k. Switch to an s corp. You

710
00:34:25,680 --> 00:34:28,360
Speaker 4: brought in that same one hundred k, but we said

711
00:34:28,400 --> 00:34:31,040
Speaker 4: we're going to pay you a reasonable salary, let's say

712
00:34:31,480 --> 00:34:34,600
Speaker 4: forty grand. Well forty grand of that money doesn't have

713
00:34:34,680 --> 00:34:38,480
Speaker 4: to pay those special taxes. So that's the understanding of

714
00:34:38,480 --> 00:34:42,200
Speaker 4: why people want to move to an escorp. Now, you'll

715
00:34:42,200 --> 00:34:46,799
Speaker 4: find different opinions on when is the best time to

716
00:34:46,960 --> 00:34:48,160
Speaker 4: move to an es corp.

717
00:34:48,440 --> 00:34:52,040
Speaker 3: Typically, the number one thing is you are at a

718
00:34:52,280 --> 00:34:54,360
Speaker 3: good profitable place.

719
00:34:55,200 --> 00:34:58,960
Speaker 4: Some people will say, you know, once you're netting you know,

720
00:34:59,040 --> 00:35:02,880
Speaker 4: thirty forty fifty. I personally think once you're netting around

721
00:35:02,920 --> 00:35:06,520
Speaker 4: seventy seventy five K. And here's the reason why. When

722
00:35:06,560 --> 00:35:10,480
Speaker 4: you move over to an escort. There are more administrative

723
00:35:10,520 --> 00:35:15,040
Speaker 4: responsibilities involved in that, and those responsibilities cost you money.

724
00:35:15,239 --> 00:35:16,279
Speaker 1: You have to start.

725
00:35:16,440 --> 00:35:19,640
Speaker 4: Paying those quarterly taxes, which means that you need an

726
00:35:19,680 --> 00:35:22,239
Speaker 4: accountant to help you with that, which means that your

727
00:35:22,280 --> 00:35:26,200
Speaker 4: books have to be cleaned. So now you're paying bookkeeping services.

728
00:35:26,239 --> 00:35:28,839
Speaker 4: And if you have employees, you're in you know, so

729
00:35:28,920 --> 00:35:33,040
Speaker 4: it and your taxes costs more the file too, you know,

730
00:35:33,080 --> 00:35:35,279
Speaker 4: and I do esports. Two, you have an escorp, You're

731
00:35:35,400 --> 00:35:37,080
Speaker 4: we're happy to see you escorps.

732
00:35:36,760 --> 00:35:37,239
Speaker 1: Come our way.

733
00:35:38,840 --> 00:35:43,600
Speaker 4: We're like, come on with your problems, come on. So,

734
00:35:44,000 --> 00:35:49,319
Speaker 4: so you have to make sure that the expenses that

735
00:35:49,360 --> 00:35:54,759
Speaker 4: you pay to become an escort far outweigh the benefits.

736
00:35:54,920 --> 00:35:56,760
Speaker 4: And that's why we say you are.

737
00:35:56,600 --> 00:35:58,160
Speaker 3: In a profitable place.

738
00:35:58,200 --> 00:36:01,160
Speaker 4: If it's only going to save you one thousand dollars,

739
00:36:01,520 --> 00:36:04,440
Speaker 4: is it really worth going through all of those changes

740
00:36:04,800 --> 00:36:07,560
Speaker 4: once you add up the expenses that it costs to

741
00:36:07,800 --> 00:36:12,320
Speaker 4: operate as an es corp. And so usually my advice

742
00:36:12,760 --> 00:36:15,840
Speaker 4: is not to start a brand new business as an

743
00:36:16,000 --> 00:36:18,040
Speaker 4: es corp unless you've been in business for a while,

744
00:36:18,360 --> 00:36:22,080
Speaker 4: it has some predictable income and you know that, yes,

745
00:36:22,560 --> 00:36:25,240
Speaker 4: it's going to cost me an extra two grand a year,

746
00:36:25,719 --> 00:36:30,160
Speaker 4: but the taxes that I'm saving far outweighs the administrative

747
00:36:30,200 --> 00:36:33,200
Speaker 4: responsibilities that I have to go through to operate this way.

748
00:36:33,920 --> 00:36:36,279
Speaker 1: Yeah, So for me, it happened for me because of

749
00:36:36,320 --> 00:36:39,560
Speaker 1: my accountant, Carlos. It happened when I was just like

750
00:36:39,680 --> 00:36:41,840
Speaker 1: you said, Terry, he's more conservative as well. I was

751
00:36:41,880 --> 00:36:44,040
Speaker 1: around seventy five to one hundred thousand dollars a year

752
00:36:44,080 --> 00:36:46,640
Speaker 1: as the budgetiese s death, and he was like, okay,

753
00:36:46,840 --> 00:36:48,920
Speaker 1: one girl, it's time to start paying quarterly. Because I

754
00:36:48,920 --> 00:36:51,480
Speaker 1: would always feel like I was back to zero by

755
00:36:51,520 --> 00:36:52,799
Speaker 1: the end. You know, by the end of the year,

756
00:36:52,840 --> 00:36:54,759
Speaker 1: it's like yeah, yeah, yeah, I saved and all this

757
00:36:54,880 --> 00:36:57,000
Speaker 1: money goes to taxes. Yes, And he was like, you know,

758
00:36:57,080 --> 00:36:59,520
Speaker 1: so one you're going to start paying quarterly. And to

759
00:36:59,760 --> 00:37:01,840
Speaker 1: your right, I had a by then this was maybe

760
00:37:01,880 --> 00:37:03,520
Speaker 1: like I don't know, I want to say, four years ago,

761
00:37:03,520 --> 00:37:05,520
Speaker 1: maybe five years ago. I was like, okay, the BUDGETISA

762
00:37:05,640 --> 00:37:08,960
Speaker 1: is steadily at this about seventy five to one hundred

763
00:37:09,000 --> 00:37:11,200
Speaker 1: thousand dollars a year. You know, it's a it's a good,

764
00:37:11,280 --> 00:37:13,239
Speaker 1: solid business. So we switched to an es Corp. And

765
00:37:13,280 --> 00:37:16,000
Speaker 1: it saved me thirty thousand dollars in taxi. So it

766
00:37:16,040 --> 00:37:18,040
Speaker 1: was that, you know, that was a significant amount of

767
00:37:18,040 --> 00:37:21,920
Speaker 1: money to not have to pay as a result of switching.

768
00:37:22,000 --> 00:37:24,520
Speaker 1: Because but like you said, I met with Carlos quarterly

769
00:37:24,520 --> 00:37:26,680
Speaker 1: all of a sudden. I also brought on a CFO

770
00:37:27,320 --> 00:37:30,120
Speaker 1: because and we had a bookkeeper because you're right, You're

771
00:37:30,120 --> 00:37:32,879
Speaker 1: You're like, it's there. You're really wanting to make sure

772
00:37:32,920 --> 00:37:37,239
Speaker 1: that your books are super clean, clear and concise. And

773
00:37:37,280 --> 00:37:39,879
Speaker 1: then she also asked about when does a sea corp

774
00:37:39,960 --> 00:37:44,640
Speaker 1: make sense? So, Terry, I recently, so I've got well

775
00:37:45,120 --> 00:37:47,200
Speaker 1: many and I shared brown ambition, But that's an LLC.

776
00:37:48,239 --> 00:37:51,319
Speaker 1: The budget Nista is a sea corp. Now, I just

777
00:37:51,360 --> 00:37:54,160
Speaker 1: switched over last year. I have a marketing company that's

778
00:37:54,160 --> 00:37:56,839
Speaker 1: a sea corp. And I have an online school that

779
00:37:56,880 --> 00:38:00,239
Speaker 1: I think started off as an escort because it I

780
00:38:00,280 --> 00:38:02,920
Speaker 1: mean right away, I knew it was going to make

781
00:38:02,960 --> 00:38:04,560
Speaker 1: a good amount of money because it was built on

782
00:38:04,600 --> 00:38:06,080
Speaker 1: the back of the budget ESTE. So it was like

783
00:38:06,400 --> 00:38:08,680
Speaker 1: we knew when we launched, this is going to start off,

784
00:38:08,719 --> 00:38:12,719
Speaker 1: like you know, making over six figures a year. So

785
00:38:13,000 --> 00:38:15,239
Speaker 1: can you explain what a sea corp looks like in

786
00:38:15,280 --> 00:38:18,200
Speaker 1: the eyes of taxes and when it was one? Would

787
00:38:18,200 --> 00:38:20,080
Speaker 1: it be a good idea to switch to a sea corp?

788
00:38:20,080 --> 00:38:20,439
Speaker 1: If ever?

789
00:38:21,760 --> 00:38:24,960
Speaker 4: Well, I don't really, that's not my expertise working with

790
00:38:25,080 --> 00:38:27,239
Speaker 4: sea corps. But it's when you're making money and you

791
00:38:27,320 --> 00:38:30,560
Speaker 4: have some future long term goals. Yes, only a C

792
00:38:30,800 --> 00:38:34,799
Speaker 4: corp accommodates. Okay, that's the high level answers to that.

793
00:38:35,719 --> 00:38:38,800
Speaker 4: You can, you know, issue stocks, you can do more things,

794
00:38:38,800 --> 00:38:41,040
Speaker 4: if you want to bring in investors things like that.

795
00:38:41,480 --> 00:38:44,600
Speaker 4: Then that's when you have certain situations business moves that

796
00:38:44,640 --> 00:38:45,280
Speaker 4: you're trying.

797
00:38:45,080 --> 00:38:49,040
Speaker 1: To make that really a C corp best accommodates. And

798
00:38:49,120 --> 00:38:51,080
Speaker 1: right now, I know what the new tax office they've dropped.

799
00:38:51,080 --> 00:38:53,600
Speaker 1: It was like thirty five percent. That's how much businesses

800
00:38:53,640 --> 00:38:55,840
Speaker 1: we're paying. It Like, as far as taxes were concerned

801
00:38:55,840 --> 00:38:58,920
Speaker 1: with the Sea Corp, it it reduced like to the

802
00:38:58,920 --> 00:39:02,040
Speaker 1: lows it's ever been to twenty one.

803
00:39:01,600 --> 00:39:02,399
Speaker 3: Somewhere around there.

804
00:39:02,520 --> 00:39:05,279
Speaker 4: Yeah yeah, that's a twenty one percent, which is what

805
00:39:05,440 --> 00:39:07,680
Speaker 4: some people were Yeah.

806
00:39:08,200 --> 00:39:11,239
Speaker 1: Yeah, yeah no, because truthfully, I'm like I needed it,

807
00:39:11,239 --> 00:39:13,359
Speaker 1: doesn't That's why I switched to a sea court because yes,

808
00:39:13,840 --> 00:39:15,600
Speaker 1: is it beneficial for me? But I know that that's

809
00:39:15,600 --> 00:39:19,600
Speaker 1: not there. Why should someone or a company making multiple

810
00:39:19,600 --> 00:39:21,480
Speaker 1: seven figures or eight figures or nine figures, why are

811
00:39:21,520 --> 00:39:24,440
Speaker 1: you paying less taxes? That's it's so crazy that like

812
00:39:24,760 --> 00:39:28,759
Speaker 1: my multi seven figure business has a lower tax rate

813
00:39:28,800 --> 00:39:33,399
Speaker 1: than tifany ely, how like, how does a person I'm

814
00:39:33,400 --> 00:39:37,360
Speaker 1: paying more taxes than my successful business. That's honestly, that's ridiculous.

815
00:39:37,360 --> 00:39:39,239
Speaker 1: And I am and so and I'll just share, like

816
00:39:39,320 --> 00:39:41,400
Speaker 1: what why Carlos said it made sense for me to

817
00:39:41,400 --> 00:39:42,680
Speaker 1: switch to a sea court. But I'm like, I said,

818
00:39:42,680 --> 00:39:45,480
Speaker 1: I'm sure it's more intricate. It's just because for two

819
00:39:45,520 --> 00:39:48,640
Speaker 1: of my businesses we did have long term goals that

820
00:39:49,600 --> 00:39:53,080
Speaker 1: normally we were always pulling a large amount for my

821
00:39:53,200 --> 00:39:56,160
Speaker 1: escort business as an owner draw and like my reasonable income.

822
00:39:56,480 --> 00:39:58,480
Speaker 1: But for the other two businesses, we were keeping a

823
00:39:58,480 --> 00:40:01,080
Speaker 1: lot of the money in the company. But because of

824
00:40:01,120 --> 00:40:04,600
Speaker 1: an ES corp, I was paying taxes on money that

825
00:40:04,719 --> 00:40:06,840
Speaker 1: was being kept in the company. And I was like Carlos, like,

826
00:40:07,200 --> 00:40:10,080
Speaker 1: I can't pay taxes on five hundred thousand dollars that

827
00:40:10,120 --> 00:40:12,160
Speaker 1: I'm not receiving. That's a lot of money, you know.

828
00:40:12,800 --> 00:40:14,480
Speaker 1: And so he was like, Okay, well then it's time

829
00:40:14,520 --> 00:40:16,640
Speaker 1: to switch to a C corp. So that way, the

830
00:40:16,680 --> 00:40:19,319
Speaker 1: burden of those taxes falls on the company, not you,

831
00:40:19,360 --> 00:40:21,320
Speaker 1: because you're not really pulling money out because you're saving

832
00:40:21,360 --> 00:40:23,719
Speaker 1: for a larger you know, for it to make a

833
00:40:23,719 --> 00:40:27,080
Speaker 1: long term move. So so I'm sure it's more intricate, obviously,

834
00:40:27,120 --> 00:40:30,000
Speaker 1: But for me, I made the C corp switch because

835
00:40:30,040 --> 00:40:32,640
Speaker 1: I was not pulling money out of two of my companies. Instead,

836
00:40:32,680 --> 00:40:34,880
Speaker 1: I was keeping it there to make make you know,

837
00:40:34,960 --> 00:40:37,200
Speaker 1: long term moves with that money. So that's what you

838
00:40:37,320 --> 00:40:37,799
Speaker 1: did for me.

839
00:40:38,239 --> 00:40:41,359
Speaker 4: Yeah, and you explained it perfectly. And so it really

840
00:40:41,480 --> 00:40:44,600
Speaker 4: depends on the perspective of the conversation on whether that's

841
00:40:44,600 --> 00:40:47,480
Speaker 4: a good or bad thing. When the tax plan was

842
00:40:47,520 --> 00:40:51,479
Speaker 4: put out there, it was the what the idea that.

843
00:40:51,400 --> 00:40:52,759
Speaker 3: This helps the middle class?

844
00:40:53,000 --> 00:40:56,759
Speaker 4: Well, middle class is not bringing in five hundred a

845
00:40:56,840 --> 00:41:00,239
Speaker 4: million dollars, you know, and yay, the tax forre is

846
00:41:00,280 --> 00:41:03,239
Speaker 4: lowered for the C corp to twenty one percent. That

847
00:41:03,320 --> 00:41:07,000
Speaker 4: really doesn't speak to the middle class, but to the

848
00:41:07,040 --> 00:41:09,960
Speaker 4: class of people where yes, that is great because my

849
00:41:10,239 --> 00:41:12,399
Speaker 4: S corp, I'm paying forty percent over here, and if

850
00:41:12,400 --> 00:41:14,239
Speaker 4: I switch to a C corp, I'm going to be

851
00:41:14,280 --> 00:41:15,480
Speaker 4: paying twenty one percent.

852
00:41:15,880 --> 00:41:18,560
Speaker 3: When when I am winning, I am winning.

853
00:41:18,640 --> 00:41:23,480
Speaker 4: So it just depends on, you know, the conversation, the

854
00:41:23,480 --> 00:41:24,759
Speaker 4: context of it.

855
00:41:25,080 --> 00:41:30,239
Speaker 3: But moving to a SEA corp, I say, my motto.

856
00:41:30,239 --> 00:41:32,080
Speaker 4: Is you want to keep more of what you make,

857
00:41:32,480 --> 00:41:37,360
Speaker 4: and so the everything that I do around the education

858
00:41:37,440 --> 00:41:41,000
Speaker 4: when it comes to taxes is listen, we are not

859
00:41:41,080 --> 00:41:43,440
Speaker 4: about to cheat the system. We're going to learn the

860
00:41:43,480 --> 00:41:46,080
Speaker 4: system so that we can beat the system. So if

861
00:41:46,120 --> 00:41:49,480
Speaker 4: that is, then that's just what it is. And I'm

862
00:41:49,520 --> 00:41:53,880
Speaker 4: not mad at you. In my TUPAC voice, move s, Corpy,

863
00:41:53,960 --> 00:41:57,080
Speaker 4: move child. Yes, Okay, thank you, Carlos.

864
00:41:57,560 --> 00:41:59,560
Speaker 2: I always feel like the text code always brings out

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00:41:59,560 --> 00:42:04,720
Speaker 2: the republic in people like forget Trump for a minute.

866
00:42:04,719 --> 00:42:08,080
Speaker 2: We all want more money, right, so say you're a

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00:42:08,120 --> 00:42:10,719
Speaker 2: liberal rich Person's what you're saying. No shade tiff, so

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00:42:10,840 --> 00:42:13,080
Speaker 2: real quick for people who for people because I know

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00:42:13,120 --> 00:42:16,200
Speaker 2: this is luckily, you know, a tax reform, everyone was

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00:42:16,239 --> 00:42:18,040
Speaker 2: really concerned. What does this mean for my taxes? I'm

871
00:42:18,040 --> 00:42:19,440
Speaker 2: going Am I going to owe more? Am I going

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00:42:19,480 --> 00:42:21,720
Speaker 2: to owe less? What advice do you have for people

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00:42:21,719 --> 00:42:25,600
Speaker 2: who get an unexpected tax bill this year or maybe

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00:42:25,640 --> 00:42:28,600
Speaker 2: get way too much of a refund and they realize that, hey,

875
00:42:28,640 --> 00:42:31,359
Speaker 2: maybe I should be giving the government less of a

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00:42:31,680 --> 00:42:34,920
Speaker 2: free loan during the year in terms of like changing

877
00:42:35,000 --> 00:42:38,520
Speaker 2: or withholdings in twenty nineteen, Yeah, what advice do you

878
00:42:38,560 --> 00:42:41,319
Speaker 2: have for just regular W two workers heading into this

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00:42:41,400 --> 00:42:41,879
Speaker 2: tax year?

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00:42:42,680 --> 00:42:43,200
Speaker 1: Number one.

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00:42:43,239 --> 00:42:47,440
Speaker 4: The Irs has a calculator called the Irs Withholding Calculator

882
00:42:47,480 --> 00:42:50,120
Speaker 4: and it's free to use. You want to make sure

883
00:42:50,160 --> 00:42:52,600
Speaker 4: that the right amount is being taken out of your paycheck,

884
00:42:52,640 --> 00:42:55,840
Speaker 4: so you can go on there, have your last paycheck

885
00:42:55,920 --> 00:42:58,239
Speaker 4: in your hands, plug in the numbers. It'll ask you

886
00:42:58,280 --> 00:43:00,400
Speaker 4: some questions and it will give you an eye idea

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00:43:01,000 --> 00:43:03,360
Speaker 4: of whether or not you're on part to have the

888
00:43:03,440 --> 00:43:05,759
Speaker 4: right amount taken out of your check, so that you're

889
00:43:05,840 --> 00:43:09,840
Speaker 4: pretty close to breaking even. You're not overpaying, but you

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00:43:09,920 --> 00:43:13,920
Speaker 4: definitely don't want to be under paying as well. That

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00:43:14,520 --> 00:43:17,319
Speaker 4: paycheck is really determined by how you fill out your

892
00:43:17,320 --> 00:43:19,359
Speaker 4: tax firms when you get on that job, so make

893
00:43:19,400 --> 00:43:23,719
Speaker 4: sure that you're completing those firms so that they have

894
00:43:23,840 --> 00:43:27,040
Speaker 4: the correct amount being taken out of your check. And

895
00:43:27,120 --> 00:43:31,400
Speaker 4: that is something that a lot of people feel is

896
00:43:31,520 --> 00:43:35,040
Speaker 4: very confusing. They're not sure, so that's why I always say, hey,

897
00:43:35,160 --> 00:43:36,680
Speaker 4: just go to the calculator.

898
00:43:37,280 --> 00:43:40,319
Speaker 2: Excellent. Well, Terry, you've been so helpful and insightful. Thank

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Speaker 2: you so much for joining the show. Now let our

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00:43:42,520 --> 00:43:45,000
Speaker 2: listeners know where they can find out more about you.

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00:43:45,000 --> 00:43:48,480
Speaker 4: You can find me at cherishtel dot com. That is

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00:43:48,560 --> 00:43:51,480
Speaker 4: my internet home t E R R I E C

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00:43:51,960 --> 00:43:53,680
Speaker 4: h A and T E L. And that's where I

904
00:43:53,719 --> 00:43:56,799
Speaker 4: have my courses and ebooks and things like that for.

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00:43:56,800 --> 00:44:00,200
Speaker 3: Everyday people to beat the system, save or make money.

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00:44:01,400 --> 00:44:03,640
Speaker 1: Yes, Terry and Terry. For those of you who don't know,

907
00:44:03,800 --> 00:44:07,880
Speaker 1: she is an amazing expert inside the Literature Academy. The

908
00:44:07,960 --> 00:44:11,320
Speaker 1: dream Catchers love you, the dream Builders love you. Brian Ambition,

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00:44:11,480 --> 00:44:12,239
Speaker 1: I love you, girl.

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00:44:13,239 --> 00:44:15,240
Speaker 3: I love that this was fun.

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00:44:15,440 --> 00:44:15,880
Speaker 1: I love it.

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00:44:15,960 --> 00:44:16,640
Speaker 3: I love it.