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Speaker 1: That's by Recon dot com Slash I Heart for off

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Speaker 1: Recon why her list earbuds if you've been eyeing a parent,

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Speaker 1: more time by raycon dot com slash my heart. Hi there,

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Speaker 1: Roshan McDonald back and you're listening to money making conversations.

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Speaker 1: My next guest is my favorite guest. The owner of

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Speaker 1: Foods as f o S Financial Services, LLC. Provides tax

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Speaker 1: preparation services for individuals and small businesses small businesses all

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Speaker 1: year long. He is a host of a show that

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Speaker 1: she said I inspired her to do a weekly tax

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Speaker 1: tip twos to where she shares tax tips and other

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Speaker 1: financial education tips to live viewers on her Facebook and

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Speaker 1: Instagram pages, as well as answers questions from viewers. The

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Speaker 1: show is called Asked Foods. That's f o S. Please

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Speaker 1: work with the money making conversations. Laura Foods, Good morning,

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Speaker 1: are you directed? How's the family? How's mom doing? I

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Speaker 1: gotta say how to mom because she believes in me. Yes, yes,

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Speaker 1: Mom is doing great. Yes, thank you for asking, Thank

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Speaker 1: you for keeping her in your prayers. She's doing very well.

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Speaker 1: Thank you. Okay, Now the the young one who's going

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Speaker 1: to college. We're getting ready for college. Graduation is a

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Speaker 1: couple of weeks away. I'm surviving great. Now, let's start

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Speaker 1: that right there. Let's talk about now, well, a child

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Speaker 1: going to college. Are there any tax opportunities that one

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Speaker 1: could take advantage of when you have a child going

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Speaker 1: to college. Yes, so there are tax advantages even when

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Speaker 1: your babies are younger. There are a lot of saving

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Speaker 1: college savings plans that you can write off on your

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Speaker 1: taxes every year for when you are saving for them

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Speaker 1: to actually go to college. So that's the first thing.

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Speaker 1: The second saying, there are three different educational credits that

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Speaker 1: you can claim on your taxes once your children are

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Speaker 1: in college, and they normally send you a ten which

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Speaker 1: will tell you the numbers that you can claim on

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Speaker 1: your taxes. So at a case, yes, does give you

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Speaker 1: right off on your tax. Now that's important for people

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Speaker 1: to understand that my daughter, she's in college now, and

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Speaker 1: I get that form and I'm happy when I see

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Speaker 1: it because guess what, no matter how much money you make,

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Speaker 1: you need right off. Always always remember that, always look

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Speaker 1: for an opportunity to write something off. Now, now, now

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Speaker 1: you know people are are being organized receipts. Okay, you

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Speaker 1: have you have these into your summaries. You have these

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Speaker 1: monthly summaries. Is if you use your credit card for

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Speaker 1: your business, is it's still important to keep the receipts. Yes,

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Speaker 1: I mean your bank statements, credit card statements certainly help

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Speaker 1: keep you organized and help you create the summaries. So

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Speaker 1: if you are ever audited by the I r S,

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Speaker 1: they are going to be looking for the actual receipts

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Speaker 1: um and they can even go back there. You're supposed

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Speaker 1: to keep those receipts up to seven years, which is

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Speaker 1: why I have started recommending to client in online apps

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Speaker 1: that when you make the purchase for your business, you

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Speaker 1: can take a picture of the receipt right then and

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Speaker 1: there and store it, you know, in the clouds. It's

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Speaker 1: online because a lot of times, after several years, your

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Speaker 1: receipt will you know, begin to disappear as well. So

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Speaker 1: I have been encouraging people to be organized with using

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Speaker 1: these online app SUPs right on your phone. You could

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Speaker 1: be organized your receipt there if you're ever audited. UM.

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Speaker 1: But yes, credit cards and banks statements hell, because you

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Speaker 1: should not. You should not be mixing. I arrest it

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Speaker 1: does not want to see mixing personal and business items anyway.

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Speaker 1: They need to be completely separate. Now I'm on the

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Speaker 1: phone with Foods Financial Services. She provides tax in preparation

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Speaker 1: service for individuals and small businesses all year long. She

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Speaker 1: has a show that she does on her Instagram and

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Speaker 1: Facebook page called Ask Foods as f o S tell

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Speaker 1: us about that and why did you start it? Yes? Well,

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Speaker 1: I think I really started it, okay, because you kept

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Speaker 1: going after me that we have to tell people and

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Speaker 1: educate people. And I have been enjoying this show. I mean,

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Speaker 1: we do have a good time or tax tips Tuesday

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Speaker 1: a p m. Eas their standard time. We have a

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Speaker 1: great time because a lot of questions come up. But

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Speaker 1: unfortunately taxes is you know, people are so afraid of

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Speaker 1: it because we don't talk about it. We don't educate

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Speaker 1: people about it. And I can't believe that people are

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Speaker 1: grown people with children and houses and businesses and they

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Speaker 1: really do not know how taxes work or where does

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Speaker 1: the refund come from? Or why did I owe? So

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Speaker 1: I really started it because I have the knowledge and

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Speaker 1: I like to share the knowledge. And then in in return,

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Speaker 1: I think by continuing to add value to people the

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Speaker 1: same way you do with money making conversation, then then

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Speaker 1: that helps my business grow because then people can see Okay,

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Speaker 1: I kind of know a little bit about what I'm

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Speaker 1: talking about. So instead of me from software is trying

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Speaker 1: to do it on my oh, let me ask to

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Speaker 1: help me with my access. Yes, so we can so

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Speaker 1: when you because you brought up money making conversations, you

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Speaker 1: know I have man making conversations Facebook and Instagram. Can

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Speaker 1: I share your broadcast on my Money Making Conversation Facebook page? Yes, yes,

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Speaker 1: because I want to share. Yes, so we could figure

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Speaker 1: out how to share them. I haven't picked out because

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Speaker 1: Facebook Life has now changed their logarithms. You can't figure

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Speaker 1: out how to get it from Facebook Lives to you

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Speaker 1: to my YouTube channel. Um is what I would prefer

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Speaker 1: to go back on my page YouTube channel. I remember

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Speaker 1: she was just just just just by herself. That's she

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Speaker 1: got YouTube channels Instagram. I've been We talked to September

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Speaker 1: when I just had to tell you how special you

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Speaker 1: are and your vision and your ability to communicate has

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Speaker 1: to be taken to now you you sent me a

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Speaker 1: video of you on appearing on one of the local

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Speaker 1: TV shows. How is that part of your life growing

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Speaker 1: in that part of public speaking, you being able to

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Speaker 1: talk about you, you know, the world of Laurel about that. Um. Yeah,

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Speaker 1: so I just did recently Channel nine News, so I

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Speaker 1: shared tax tips on our local DC news. Um. And

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Speaker 1: so certainly, of course, all of these things that you

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Speaker 1: know make me very nervous and I get anxious, even

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Speaker 1: though I enjoy talking to you and I love it,

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Speaker 1: but of course I always have anxiety and you know,

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Speaker 1: the talking and are you gonna say the right thing? Um?

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Speaker 1: But I think as as you continue to want to

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Speaker 1: go to that next level, you have to force yourself

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Speaker 1: to be very uncomfortable. So I think over the past

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Speaker 1: six months or even probably the past year working with you,

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Speaker 1: I have continued to try to put myself in uncomfortable

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Speaker 1: situations or in rooms that I would normally not go

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Speaker 1: in because I was uncomfortable to be with those people.

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Speaker 1: You know, I always wanted to be the star of

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Speaker 1: the room, and now I learned for me to grow

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Speaker 1: and do better and be better, maybe I need to

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Speaker 1: be in rooms where there's a lot of starts there

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Speaker 1: and I want to grow to their level. Um. So,

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Speaker 1: with your encouragement, I am continuing to make myself being

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Speaker 1: fearful positions that I'm overcoming those fears. So I think

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Speaker 1: the more you do it, the better you get, the

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Speaker 1: more comfortable you get, and realizing that everybody is human.

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Speaker 1: So sometimes I am gonna say, um, too many times,

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Speaker 1: I'm gonna stumble sometimes, and that's okay because you don't

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Speaker 1: say you know a bunch of time, we're good. You say, oh,

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Speaker 1: but you know you know. So you can't be in

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Speaker 1: the tax business and say you know that's true because

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Speaker 1: I know you don't know. That's why you need to

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Speaker 1: call up. Let's talk about some of the some of

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Speaker 1: the tax filing the stakes that people make on a

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Speaker 1: on a regular basis that you encounter. Like you said,

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Speaker 1: you are shocked that people aren't aware and it feels

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Speaker 1: that should be common sense. What are some of the

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Speaker 1: tax filing mistakes? Well, the biggest mistakes is that the

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Speaker 1: tax season deadline is tomorrow tomorrow? Is it tomorrow? Road

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Speaker 1: April sevent tomorrow, Tuesday, April seventeen at midnight? That is it.

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Speaker 1: So that is the biggest mistake because they charge you

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Speaker 1: a five percent penalty up to a twenty percent penalty

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Speaker 1: every month that you file late. So if you are

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Speaker 1: not ready, I know you're trying to avoid it. If

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Speaker 1: taxes is not going to go away, so you might

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Speaker 1: as well get over that part. It's not gonna disappear.

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Speaker 1: But if you cannot do it by tomorrow, you have

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Speaker 1: got to file an extension which shall give you an

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Speaker 1: automatic extension until April fift two, so we can avoid

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Speaker 1: that late filing penalty that you owe. It does not

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Speaker 1: um you're not pushing back that you know the amount

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Speaker 1: of money that you owe. You said you said an extension,

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Speaker 1: but you said April fifteen. What is the correct day

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Speaker 1: when you file the nextension. How far can that extension

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Speaker 1: allow you to go to file your tax I'm sorry, Yes,

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Speaker 1: it will give you an automatic extension till October fifteenth

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Speaker 1: this year, so it's automatic, but you still have to

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Speaker 1: apply for it. And if you do it, you could

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Speaker 1: even go to i RS dot com. You can inbox me,

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Speaker 1: you can go to our website, you can fill out

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Speaker 1: a brief form to file an extension. Will get the

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Speaker 1: extension filed for you, and that gives you a little

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Speaker 1: bit longer to file. But you do not want to

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Speaker 1: just not do anything, because then you have that late

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Speaker 1: filing penal. Okay, what if I'm a bad dude and say,

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Speaker 1: you know, so, I'm my filing my tax I'm tired

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Speaker 1: of filing taxes. What's gonna happen to my foolish behind? Yes,

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Speaker 1: what is going to happen is they're going to find you.

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Speaker 1: They're going to hunt you down if they're going to

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Speaker 1: find you, and they're going to find where you work

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Speaker 1: because your employer is still submitting W two's and your

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Speaker 1: name saying that they have paid you for the year.

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Speaker 1: So they're going to find your job where you work.

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Speaker 1: They will gardners your check. If they get ahold of

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Speaker 1: your account numbers, they will go in your account and

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Speaker 1: take your money. So do not play with the I

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Speaker 1: r s. But they're very easy to work with. So

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Speaker 1: if you communicate with them, even if you know you

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Speaker 1: owe file on time, and then you can go right

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Speaker 1: to I r S dot com and do an I

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Speaker 1: r S online payment agreement. So they're very friendly people.

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Speaker 1: They want to work with you. They'll let you be

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Speaker 1: on a payment plan. Is when you try to avoid

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Speaker 1: them or ignore them or hide from them, that it

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Speaker 1: becomes a situation you need to check out the wireless

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Speaker 1: earbuds from Recon. Recon earbuds start off about half the

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Speaker 1: price of any other premium wireless earbuds on the market,

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Speaker 1: and they sound just as amazing. Unlike some of your

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Speaker 1: other wireless options, Recon earbuds are with stylish and discreet,

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Speaker 1: with no dangling wires or stems. And of course they

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Speaker 1: don't just look great, they sound great too, and they're

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Speaker 1: perfect for listening to all your favorite I heart radio

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