1 00:00:00,160 --> 00:00:03,480 Speaker 1: Still living in manually taking notes. There is a better 2 00:00:03,480 --> 00:00:05,560 Speaker 1: way to start the new year with auto dot ai 3 00:00:05,720 --> 00:00:09,040 Speaker 1: automatically get meeting notes. Auto dot ai works for virtual 4 00:00:09,039 --> 00:00:11,680 Speaker 1: meetings like Zoom, Microsoft Teams, and Google Meet. Sign up 5 00:00:11,720 --> 00:00:13,360 Speaker 1: on the web for free or download in the app 6 00:00:13,360 --> 00:00:15,960 Speaker 1: stores auto dot ai. That's O T T e r 7 00:00:16,120 --> 00:00:20,680 Speaker 1: dot Ai. This podcast is sponsored by Better Help Online Therapy. 8 00:00:20,800 --> 00:00:24,680 Speaker 1: I'm Michlene Maloof and I'm Nadiadesi, licensed therapists and hosts 9 00:00:24,680 --> 00:00:27,160 Speaker 1: of Getting Better Stories of Mental Health. Join us for 10 00:00:27,200 --> 00:00:30,520 Speaker 1: discussions with Megan Trainer, Chris Bosh, Rebel Wilson, and more, 11 00:00:30,680 --> 00:00:34,360 Speaker 1: from discussing motherhood to immigrating to general mental health. Our 12 00:00:34,440 --> 00:00:37,680 Speaker 1: guests are awe inspiring. We all struggle with the same things, 13 00:00:37,840 --> 00:00:40,600 Speaker 1: so let's talk about it and the stigmatize them. Find 14 00:00:40,640 --> 00:00:43,800 Speaker 1: our new podcast, Getting Better Stories of Mental Health on 15 00:00:43,880 --> 00:00:49,640 Speaker 1: iHeart Apple Podcasts and Spotify. When's the last time you 16 00:00:49,680 --> 00:00:52,720 Speaker 1: took a time Out? I'm Ev Rodsky, author of the 17 00:00:52,760 --> 00:00:56,120 Speaker 1: New York Times bestseller fair Play and find your Unicorn Space. 18 00:00:56,440 --> 00:00:59,680 Speaker 1: Activists on the gender division of labor, attorney and family 19 00:00:59,720 --> 00:01:03,400 Speaker 1: media lader, and I'm doctor Addina Rucar, a Harvard physician 20 00:01:03,520 --> 00:01:07,400 Speaker 1: and medical correspondent with an expertise in the science of stress, resilience, 21 00:01:07,480 --> 00:01:11,320 Speaker 1: mental health and burnout. We're so excited to share our podcast, 22 00:01:11,480 --> 00:01:15,240 Speaker 1: Time Out, a production of I Heart Podcasts and Hello Sunshine, 23 00:01:15,640 --> 00:01:18,360 Speaker 1: repealing back the layers around why society makes it so 24 00:01:18,440 --> 00:01:21,319 Speaker 1: easy to guard men's time like it's diamonds and treat 25 00:01:21,400 --> 00:01:25,160 Speaker 1: women's time like it's infinite like sand. And so, whether 26 00:01:25,200 --> 00:01:28,000 Speaker 1: you're partnered with or without children, or in a career 27 00:01:28,040 --> 00:01:30,640 Speaker 1: where you want more boundaries, this is the place for you, 28 00:01:30,920 --> 00:01:34,360 Speaker 1: for people of all family structures. So take this time 29 00:01:34,360 --> 00:01:38,399 Speaker 1: out with us to learn, get inspired, and most importantly, 30 00:01:38,920 --> 00:01:43,039 Speaker 1: reclaim your time. Listen to Time Out, a fair play 31 00:01:43,120 --> 00:01:46,840 Speaker 1: podcast on the I Heart Radio app, Apple Podcasts, or 32 00:01:46,880 --> 00:01:54,440 Speaker 1: wherever you get your podcasts. Hi, Welcome to Money Making Conversation. 33 00:01:54,520 --> 00:01:57,800 Speaker 1: I'm your host, Rashan McDonald. Each Money Making Conversation Talks 34 00:01:57,800 --> 00:02:01,480 Speaker 1: show is about entrepreneurship and entertainment. I provide the consumer 35 00:02:01,560 --> 00:02:06,000 Speaker 1: and business owner access to celebrities, CEOs, entrepreneurs and industry 36 00:02:06,000 --> 00:02:09,440 Speaker 1: decision makers. I recognize that we all have different definitions 37 00:02:09,440 --> 00:02:12,880 Speaker 1: of success. For some, it's a sizeable paycheck. For others 38 00:02:13,000 --> 00:02:17,640 Speaker 1: is living a purposeful life. Or enjoying close personal relationships, 39 00:02:17,680 --> 00:02:21,040 Speaker 1: are expressing their creativity. It's all about you and all 40 00:02:21,080 --> 00:02:23,200 Speaker 1: about what you want to do in your life. Helping people, 41 00:02:23,480 --> 00:02:25,600 Speaker 1: that's what my goal is to wake up and inspire 42 00:02:25,720 --> 00:02:30,280 Speaker 1: them to succeed by accomplishing their goals, their dreams, their aspirations. 43 00:02:30,680 --> 00:02:34,000 Speaker 1: The Money Making Conversation interviews provide relatable information to the 44 00:02:34,200 --> 00:02:40,960 Speaker 1: listener about career and business and financial planning and entrepreneurship, motivation, leadership, 45 00:02:41,200 --> 00:02:43,800 Speaker 1: overcoming the arts, and how to live and balanced life. 46 00:02:44,040 --> 00:02:47,120 Speaker 1: With that being said, let's get to them, my my guests. 47 00:02:47,600 --> 00:02:51,560 Speaker 1: It's tax season, y'all. Or tax season or tax season. Yes, 48 00:02:52,600 --> 00:02:54,720 Speaker 1: I've seen commercial LuFe there boy, taxes. All kind of 49 00:02:54,760 --> 00:02:57,320 Speaker 1: people will let you know, a tax season, uh for 50 00:02:57,400 --> 00:03:01,080 Speaker 1: some people's tax season year round. Like me, I'm always 51 00:03:01,120 --> 00:03:03,680 Speaker 1: talking about my taxes. So it's time to talk to 52 00:03:03,720 --> 00:03:06,720 Speaker 1: one of my favorite tax experts, my next guest. Tax 53 00:03:06,760 --> 00:03:10,400 Speaker 1: Preparation company specializes in an individual or small business tax 54 00:03:10,400 --> 00:03:14,320 Speaker 1: preparations and tax filings. They pride themselves as taking time 55 00:03:14,639 --> 00:03:17,000 Speaker 1: with each client to go over with them their tax 56 00:03:17,280 --> 00:03:19,679 Speaker 1: situation so they can understand it as well as help 57 00:03:19,720 --> 00:03:23,799 Speaker 1: them plan for upcoming years. Please welcome back, back back 58 00:03:23,960 --> 00:03:26,240 Speaker 1: the money making conversation. One of my favorite people in 59 00:03:26,280 --> 00:03:31,200 Speaker 1: the DC area, Laura Foods, Good morning, how y'all doing 60 00:03:31,800 --> 00:03:34,880 Speaker 1: pretty good? At the energy She would not stop, she 61 00:03:34,880 --> 00:03:38,080 Speaker 1: would not stop. And now you're doing Laura. I'm good, 62 00:03:38,200 --> 00:03:40,600 Speaker 1: I'm good. We're here. I'm excited to be with you 63 00:03:40,640 --> 00:03:43,280 Speaker 1: all again. I was telling Samantha, I hadn't talked to 64 00:03:43,320 --> 00:03:46,800 Speaker 1: you all in quite a while. Yeah, you know, I'm 65 00:03:46,840 --> 00:03:48,920 Speaker 1: sure you. I'm sure you were talking to somebody though, 66 00:03:48,960 --> 00:03:52,920 Speaker 1: because you can talk, you know, I was like talking. 67 00:03:53,000 --> 00:03:56,280 Speaker 1: You know, I'm always talking. It's awesome though. That's one 68 00:03:56,280 --> 00:03:58,840 Speaker 1: of your gifts. And I want to ask you all 69 00:03:58,840 --> 00:04:00,880 Speaker 1: the time i've talked to you, r I don't think 70 00:04:00,920 --> 00:04:03,320 Speaker 1: i've ever asked you what is your gift or your passion? 71 00:04:03,360 --> 00:04:07,040 Speaker 1: What is your gift or your passion? Um? I think 72 00:04:07,080 --> 00:04:11,600 Speaker 1: gift and passion so they probably go, um, go together. UM. 73 00:04:11,640 --> 00:04:14,240 Speaker 1: I think that part of my gift is, you know, 74 00:04:14,360 --> 00:04:17,400 Speaker 1: being able to, especially because I deal a lot with 75 00:04:17,600 --> 00:04:21,479 Speaker 1: taxes and finances and those are subjects that sometimes you know, 76 00:04:21,480 --> 00:04:23,760 Speaker 1: a lot of people don't talk about it, they don't understand. 77 00:04:23,760 --> 00:04:25,839 Speaker 1: So I think part of my gift is being able 78 00:04:25,880 --> 00:04:30,640 Speaker 1: to break the process down so that everybody can understand it, 79 00:04:30,720 --> 00:04:33,200 Speaker 1: and that I can break it down to whatever crowd 80 00:04:33,279 --> 00:04:36,560 Speaker 1: that I'm speaking to and make it relatable to them. Um, 81 00:04:36,640 --> 00:04:39,040 Speaker 1: And that's part of my passion and that, you know, 82 00:04:39,160 --> 00:04:43,440 Speaker 1: breaking money and finances and taxes and budgeting and savings 83 00:04:43,480 --> 00:04:46,080 Speaker 1: and breaking those down so that all of us can 84 00:04:46,200 --> 00:04:48,760 Speaker 1: understand it and that people are more educated and then 85 00:04:48,800 --> 00:04:51,200 Speaker 1: when we know better, we do better. Right. So I 86 00:04:51,240 --> 00:04:53,440 Speaker 1: think that is part of the passion of you know, 87 00:04:53,560 --> 00:04:57,080 Speaker 1: helping break the you know, financial and money things down 88 00:04:57,279 --> 00:05:00,800 Speaker 1: so that people understand it better. We know. It's really 89 00:05:01,839 --> 00:05:03,880 Speaker 1: my relationship goes all the way back to the Hoodie 90 00:05:03,880 --> 00:05:14,480 Speaker 1: Awards Enabled Awards with your business. Well, let's talk about 91 00:05:14,520 --> 00:05:17,440 Speaker 1: slaw Cotur because I'm just talking about you personally as 92 00:05:17,480 --> 00:05:20,440 Speaker 1: an individual who I've seen grown and and you know, 93 00:05:20,440 --> 00:05:23,600 Speaker 1: I follow your social media and I just see that 94 00:05:23,680 --> 00:05:27,320 Speaker 1: you're you're more more about social media influencer. Now we're 95 00:05:27,360 --> 00:05:29,599 Speaker 1: just making that shifting it. You seem like you're you're 96 00:05:29,640 --> 00:05:32,560 Speaker 1: you're you're gaining energy about who you are as a 97 00:05:32,640 --> 00:05:35,200 Speaker 1: brand and who you are as an individual. It's because 98 00:05:35,200 --> 00:05:37,279 Speaker 1: your daughter is in college now you've got more time 99 00:05:37,360 --> 00:05:39,680 Speaker 1: to you for yourself, not seeing the kids, not there, 100 00:05:40,080 --> 00:05:43,840 Speaker 1: what's going on. I don't think I have more time now. 101 00:05:43,880 --> 00:05:47,200 Speaker 1: I think it is and probably working with you and 102 00:05:46,960 --> 00:05:49,360 Speaker 1: and some of my other coaches that I work with, 103 00:05:49,600 --> 00:05:53,200 Speaker 1: and really beginning to take this seriously that you know 104 00:05:53,520 --> 00:05:56,719 Speaker 1: that I can be my own person and my own brand, because, 105 00:05:56,920 --> 00:05:58,919 Speaker 1: like you said, because I do have that gift in 106 00:05:58,960 --> 00:06:01,960 Speaker 1: that passion to there with people. And I think that 107 00:06:02,120 --> 00:06:05,000 Speaker 1: everybody has something that they need to share, and mine, 108 00:06:05,000 --> 00:06:08,520 Speaker 1: of course is and taxes and finances, um and so 109 00:06:08,560 --> 00:06:12,080 Speaker 1: I think it was just deciding to be more transparent 110 00:06:12,200 --> 00:06:15,120 Speaker 1: with people, especially on social media. And I think that 111 00:06:15,200 --> 00:06:18,440 Speaker 1: once you learned to be transparent with your audience and 112 00:06:18,480 --> 00:06:21,840 Speaker 1: add value, like my social media is to add value 113 00:06:21,920 --> 00:06:25,200 Speaker 1: to people, to share information that I've learned from being 114 00:06:25,240 --> 00:06:28,560 Speaker 1: a single mother, from being married and divorced twice, from 115 00:06:28,560 --> 00:06:33,280 Speaker 1: going through bankruptcy but then having several successful businesses. UM. So, 116 00:06:33,320 --> 00:06:36,960 Speaker 1: I think my audience appreciates the transparency, and they certainly 117 00:06:37,040 --> 00:06:39,320 Speaker 1: understand that they love me for me because I probably 118 00:06:39,400 --> 00:06:42,400 Speaker 1: do cuss way too much to be a cute young lady, 119 00:06:42,520 --> 00:06:45,440 Speaker 1: So sometimes they might catch me cussing. I'd like to laugh. 120 00:06:45,520 --> 00:06:48,280 Speaker 1: I like to have fun um. But I think when 121 00:06:48,320 --> 00:06:52,039 Speaker 1: you are, you know, using social media to add value 122 00:06:52,040 --> 00:06:54,440 Speaker 1: to people um and be the real you and the 123 00:06:54,480 --> 00:06:57,640 Speaker 1: authentic you, then I think that people appreciate that and 124 00:06:57,720 --> 00:07:00,839 Speaker 1: you find your tribe and you find your your true 125 00:07:03,360 --> 00:07:06,279 Speaker 1: more transparent. Well, no, it's really important because when I 126 00:07:06,279 --> 00:07:08,400 Speaker 1: bring people on the show or you know, we're all 127 00:07:08,440 --> 00:07:11,000 Speaker 1: going to talk about who you are from a business perspective, 128 00:07:11,000 --> 00:07:12,480 Speaker 1: why are you calling it on the show? But I 129 00:07:12,560 --> 00:07:16,520 Speaker 1: just trying to let my listeners here another layer of 130 00:07:16,640 --> 00:07:19,880 Speaker 1: what is inspiring you, what is driving you? Because because 131 00:07:19,920 --> 00:07:22,200 Speaker 1: of the fact that we are all tied to trying 132 00:07:22,200 --> 00:07:24,400 Speaker 1: to be successful. And then and I always tell people, 133 00:07:24,400 --> 00:07:26,680 Speaker 1: all you're laying of success is going to be different 134 00:07:26,720 --> 00:07:30,240 Speaker 1: somebody else Lane, but you might drop a nugget They go, wow, 135 00:07:30,920 --> 00:07:33,200 Speaker 1: I can really relate to what she's talking about. I 136 00:07:33,200 --> 00:07:35,600 Speaker 1: can really relate to understand you know who our passion, 137 00:07:36,160 --> 00:07:38,360 Speaker 1: her gifts are very similar to mine. But guess what, 138 00:07:38,880 --> 00:07:41,120 Speaker 1: I'm a different person. I might be younger, I might 139 00:07:41,160 --> 00:07:43,400 Speaker 1: be older, I might be married, I might be single, 140 00:07:43,640 --> 00:07:45,960 Speaker 1: all these situations, but you can still up be inspired 141 00:07:46,000 --> 00:07:48,800 Speaker 1: by the story. And that's why I love communicating with 142 00:07:48,800 --> 00:07:51,360 Speaker 1: your Lord because you will tell me the story. Now, 143 00:07:51,360 --> 00:07:53,760 Speaker 1: how is your daughter? Because I love talking about my 144 00:07:53,800 --> 00:07:58,760 Speaker 1: girl the story too. Yeah. Absolutely see the kids that 145 00:07:58,880 --> 00:08:02,240 Speaker 1: s college treat nerve and everything you know, said is 146 00:08:02,280 --> 00:08:04,760 Speaker 1: doing great. Thank you for always asking about her, said, 147 00:08:04,840 --> 00:08:07,400 Speaker 1: the kid is in her. Well, she's coming up finishing 148 00:08:07,440 --> 00:08:10,680 Speaker 1: her second year at Temple University. This year has just 149 00:08:10,880 --> 00:08:13,360 Speaker 1: been an awesome year for her. I don't even see 150 00:08:13,360 --> 00:08:16,320 Speaker 1: her hardly anymore. Thank god for FaceTime that we FaceTime 151 00:08:16,360 --> 00:08:19,040 Speaker 1: a hundred of times a day because she never makes 152 00:08:19,040 --> 00:08:24,080 Speaker 1: at home. But she's really transitioning. Interestingly, she's UM started 153 00:08:24,120 --> 00:08:26,960 Speaker 1: doing an internship with their football team as she grew 154 00:08:27,040 --> 00:08:30,120 Speaker 1: to love football because of her father and her uncle's 155 00:08:30,160 --> 00:08:34,679 Speaker 1: and now she is really leaning towards sports management. UM. 156 00:08:34,840 --> 00:08:37,440 Speaker 1: She's one of their only paid students that works with 157 00:08:37,600 --> 00:08:41,160 Speaker 1: Temple football and works with recruiting UM the athletes coming 158 00:08:41,200 --> 00:08:44,640 Speaker 1: to visit the school. And she's really loving that. And so, 159 00:08:44,760 --> 00:08:46,400 Speaker 1: I mean, I don't know where that came from, but 160 00:08:46,440 --> 00:08:48,680 Speaker 1: you know, I'm gonna support her and whatever where we 161 00:08:48,720 --> 00:08:51,240 Speaker 1: know where the talking came from. Okay, now, the ability 162 00:08:51,320 --> 00:08:54,360 Speaker 1: to communicate came from you. When she lodges her sports 163 00:08:54,480 --> 00:08:57,280 Speaker 1: Managmike company. Then yes, we're gonna have to get her 164 00:08:57,280 --> 00:09:01,439 Speaker 1: own money making conversations. The thing about this relationship, you 165 00:09:01,480 --> 00:09:04,280 Speaker 1: gonna have that the tax stuff down path. You know. 166 00:09:04,360 --> 00:09:06,959 Speaker 1: So when when she starts signing these athletes, they're gonna 167 00:09:07,120 --> 00:09:09,320 Speaker 1: bring him around the corners, that is, and they don't 168 00:09:09,320 --> 00:09:12,480 Speaker 1: even introduce you as mom. You know this is she 169 00:09:12,600 --> 00:09:14,360 Speaker 1: will hang on your taxes. You know, we don't have 170 00:09:14,440 --> 00:09:16,760 Speaker 1: no problem over here. And then you're gonna just start talking. 171 00:09:16,800 --> 00:09:20,520 Speaker 1: They're gonna go, whoa, it's all over. But that's how 172 00:09:20,559 --> 00:09:23,040 Speaker 1: you you know, like my daughter, you know, she's she's 173 00:09:23,080 --> 00:09:25,920 Speaker 1: in college, but she's one more years to be graduating 174 00:09:25,920 --> 00:09:28,520 Speaker 1: in game design. And I'm watching her grow and the 175 00:09:28,640 --> 00:09:30,439 Speaker 1: watching her grow, and that's why I talk about the 176 00:09:30,440 --> 00:09:32,560 Speaker 1: balance life, you know, being able to we can be 177 00:09:32,640 --> 00:09:35,480 Speaker 1: successful in all these different areas, but how balanced is 178 00:09:35,520 --> 00:09:37,880 Speaker 1: your life? You know? And you know, we always want 179 00:09:37,880 --> 00:09:40,640 Speaker 1: our kids to go out there and we you know, 180 00:09:40,760 --> 00:09:44,000 Speaker 1: we're watching the ugly things on TV that you're always afraid. 181 00:09:44,080 --> 00:09:46,080 Speaker 1: You need to hear from them to make sure that 182 00:09:46,120 --> 00:09:48,480 Speaker 1: you could sleep at night. But you gotta let them go, 183 00:09:48,559 --> 00:09:49,880 Speaker 1: and you gotta let them grow, and you gotta let 184 00:09:49,960 --> 00:09:52,880 Speaker 1: them make their own decisions. So now the extension why 185 00:09:52,920 --> 00:09:57,120 Speaker 1: would somebody file in the extension um? Maybe sometimes you know, 186 00:09:57,160 --> 00:10:00,520 Speaker 1: I have clients fined for all different reasons, some just 187 00:10:00,600 --> 00:10:03,920 Speaker 1: because they maybe they have had an emergency, or they've 188 00:10:03,920 --> 00:10:05,800 Speaker 1: had things going on with their family, so they just 189 00:10:05,840 --> 00:10:08,720 Speaker 1: couldn't get the documents together. Maybe they were waiting for 190 00:10:08,760 --> 00:10:10,920 Speaker 1: a document because they lost it and had to get 191 00:10:10,960 --> 00:10:14,880 Speaker 1: a replacement. UM. There's all all kinds of reasons. So 192 00:10:15,000 --> 00:10:17,920 Speaker 1: you can find you would be approved to file an 193 00:10:17,920 --> 00:10:23,640 Speaker 1: automatic extension um without any penalties or fees. Especially if 194 00:10:23,720 --> 00:10:26,360 Speaker 1: you are do a refund, you can do it automatically. 195 00:10:26,440 --> 00:10:29,000 Speaker 1: Let's just say you didn't have time UM and you 196 00:10:29,040 --> 00:10:33,440 Speaker 1: can file that automatically. I would degree in math. I 197 00:10:33,520 --> 00:10:36,360 Speaker 1: will never do my taxes. When it comes to buy taxes, 198 00:10:36,400 --> 00:10:39,319 Speaker 1: I get parano I get nervous, I get afraid it 199 00:10:39,440 --> 00:10:42,480 Speaker 1: really it really is like I mean, even when I 200 00:10:42,520 --> 00:10:45,600 Speaker 1: wasn't making just a little simple form, the little single form, 201 00:10:45,720 --> 00:10:47,920 Speaker 1: I just one job, and you know they showed you 202 00:10:47,960 --> 00:10:50,560 Speaker 1: how much taxes they took out. I still wasn't feeling 203 00:10:50,600 --> 00:10:54,000 Speaker 1: those forms. I was like scared to death. Why why 204 00:10:54,120 --> 00:10:58,079 Speaker 1: is Richard McDonald afraid of feeling out his own taxes 205 00:10:58,160 --> 00:11:02,400 Speaker 1: or need you all me that right? Well, and I 206 00:11:02,440 --> 00:11:04,720 Speaker 1: think it's just just like we were talking about in 207 00:11:04,760 --> 00:11:08,080 Speaker 1: the intro of the Passion, because nobody talks about it. 208 00:11:08,120 --> 00:11:11,920 Speaker 1: You know, we didn't learn about taxes in in school. 209 00:11:12,120 --> 00:11:14,840 Speaker 1: A lot of times our parents just filed their taxes 210 00:11:14,960 --> 00:11:16,400 Speaker 1: or I see what I mean. You know, we didn't 211 00:11:16,400 --> 00:11:19,040 Speaker 1: even know our parents filed taxes. Didn't even know what 212 00:11:19,080 --> 00:11:21,480 Speaker 1: that was. No one discussed that. We didn't learn about 213 00:11:21,480 --> 00:11:24,120 Speaker 1: it in college. And so until you started working, did 214 00:11:24,160 --> 00:11:26,520 Speaker 1: you hear people say, oh, you have to file your taxes. 215 00:11:26,880 --> 00:11:29,959 Speaker 1: And when you don't know something or you don't understand something, 216 00:11:30,040 --> 00:11:32,600 Speaker 1: then you get a professional to do it for you. Now, 217 00:11:32,640 --> 00:11:35,640 Speaker 1: hopefully you work with someone like myself that will explain 218 00:11:35,720 --> 00:11:37,400 Speaker 1: it to you. But I still have a lot of 219 00:11:37,400 --> 00:11:40,160 Speaker 1: clients who, probably like yourself, are like, I don't even 220 00:11:40,160 --> 00:11:42,760 Speaker 1: want to know. Just what's the bottom number? You do it? 221 00:11:42,840 --> 00:11:47,440 Speaker 1: You're the perfect the bottom numbers are. That's me, you know, Well, 222 00:11:47,440 --> 00:11:49,559 Speaker 1: I'm gonna chang. I'm a good person, you know. I 223 00:11:49,640 --> 00:11:52,280 Speaker 1: see my little booklets, I have my little tab everything 224 00:11:52,280 --> 00:11:55,880 Speaker 1: he's typed up. I am a blessing to my text 225 00:11:56,840 --> 00:11:59,400 Speaker 1: Oh my god, they love they love me. But you know, 226 00:11:59,440 --> 00:12:01,319 Speaker 1: don't come back, go for me, you know, just tell 227 00:12:01,400 --> 00:12:04,439 Speaker 1: me what I need to sign. Make sure what I'm 228 00:12:04,480 --> 00:12:08,520 Speaker 1: signing makes me happy. I gotta be happy, gotta be happy. 229 00:12:08,600 --> 00:12:11,640 Speaker 1: But that's part of the process because you know, you 230 00:12:11,679 --> 00:12:13,800 Speaker 1: have to go. You know, I think when it when 231 00:12:14,040 --> 00:12:17,600 Speaker 1: because it's so personable. How this whole file in taxes 232 00:12:17,640 --> 00:12:19,959 Speaker 1: And then I see these companies talking about you know, 233 00:12:20,440 --> 00:12:24,040 Speaker 1: you you file taxes, we give your money. Now I'll 234 00:12:24,040 --> 00:12:26,760 Speaker 1: see that. Or do you do that as well? Or 235 00:12:26,800 --> 00:12:29,000 Speaker 1: is that just a different company that is just doing that. 236 00:12:29,679 --> 00:12:32,200 Speaker 1: No where they can get an advance in the way 237 00:12:32,760 --> 00:12:34,920 Speaker 1: like they call it like an advance and what that 238 00:12:35,040 --> 00:12:37,920 Speaker 1: is that is and those are certainly legal, and most 239 00:12:37,960 --> 00:12:40,640 Speaker 1: tax professionals offered them like we had them at the 240 00:12:40,679 --> 00:12:43,520 Speaker 1: beginning of the tax season. And what the advances, it's 241 00:12:43,559 --> 00:12:46,120 Speaker 1: an advance of money of your own money. You are 242 00:12:46,200 --> 00:12:48,400 Speaker 1: going to pay a feed for it, just like I said, 243 00:12:49,040 --> 00:12:51,719 Speaker 1: someone's money. They're going to charge you interest to use 244 00:12:51,760 --> 00:12:55,440 Speaker 1: their money. But they developed the um the advances come 245 00:12:55,520 --> 00:12:59,079 Speaker 1: in handy because you know teen they developed a path 246 00:12:59,200 --> 00:13:02,160 Speaker 1: act us because we have seen so much or now 247 00:13:02,200 --> 00:13:05,439 Speaker 1: they got you know, with smart systems, they caught one 248 00:13:05,520 --> 00:13:09,920 Speaker 1: that people were filing tax returns with fraudulent children, maybe 249 00:13:10,000 --> 00:13:13,000 Speaker 1: children that were not their children. And now if you 250 00:13:13,120 --> 00:13:16,320 Speaker 1: put children on your return where you're earning that earned 251 00:13:16,360 --> 00:13:20,439 Speaker 1: income credit or additional child tax credit money, where you're 252 00:13:20,480 --> 00:13:24,760 Speaker 1: getting refundable money back. They were holding those tax returns 253 00:13:24,840 --> 00:13:28,080 Speaker 1: until February fifteen, So even though a lot of people 254 00:13:28,120 --> 00:13:31,559 Speaker 1: submitted their returns in January, they would not even begin 255 00:13:31,600 --> 00:13:35,120 Speaker 1: looking at those returns until February fifteen, so that they 256 00:13:35,160 --> 00:13:38,160 Speaker 1: have more time to analyze them, check the children on 257 00:13:38,280 --> 00:13:41,240 Speaker 1: the returns. So that's why they do the advance, because 258 00:13:41,280 --> 00:13:45,000 Speaker 1: those clients did not begin to get refunds until the 259 00:13:45,160 --> 00:13:47,800 Speaker 1: end of roll Really, they just started coming out as 260 00:13:47,800 --> 00:13:50,040 Speaker 1: a matter of fact, the end of February. So if 261 00:13:50,080 --> 00:13:52,600 Speaker 1: I did your return in January and I know you're 262 00:13:52,600 --> 00:13:55,880 Speaker 1: gonna get six thousand dollars back, I could give you 263 00:13:55,920 --> 00:13:59,040 Speaker 1: an advance of that money, and then when they finally 264 00:13:59,040 --> 00:14:01,600 Speaker 1: released your refund on the end of February, we would 265 00:14:01,640 --> 00:14:04,120 Speaker 1: get that back. Yeah, but you have control of that 266 00:14:04,240 --> 00:14:06,960 Speaker 1: right through the end of February. You have control of 267 00:14:07,000 --> 00:14:09,120 Speaker 1: that money though, right, you have control of the chick 268 00:14:09,160 --> 00:14:14,199 Speaker 1: comes to you, right, Yes, of course, things that works 269 00:14:14,320 --> 00:14:16,559 Speaker 1: with tax of prayer companies. So yes, they're going to 270 00:14:16,640 --> 00:14:19,840 Speaker 1: make sure they get their money back first. Then we're 271 00:14:19,840 --> 00:14:23,080 Speaker 1: gonna get our prep fees seconds, and then the client 272 00:14:23,200 --> 00:14:25,320 Speaker 1: would get what's the last all right, I love it. 273 00:14:25,320 --> 00:14:27,480 Speaker 1: That's that's a good way. We'll be talking about girl 274 00:14:27,800 --> 00:14:32,000 Speaker 1: top tax filer and what she's a DC area Okay, 275 00:14:32,200 --> 00:14:34,200 Speaker 1: and she's been doing it for seven years. She's a 276 00:14:34,200 --> 00:14:36,240 Speaker 1: friend of the show and this time of year I 277 00:14:36,320 --> 00:14:39,680 Speaker 1: always bring on the show just story enthusiasm. Her information 278 00:14:39,720 --> 00:14:42,880 Speaker 1: that she delivers every time on this show is amazing. 279 00:14:43,000 --> 00:14:44,920 Speaker 1: We'll be back more. I got some detailed questions to 280 00:14:44,960 --> 00:14:48,000 Speaker 1: get even more granular with the information about filing taxes, 281 00:14:48,080 --> 00:14:52,680 Speaker 1: doing tax season. Laura Foods is on Money Making Conversation. Hi, 282 00:14:52,800 --> 00:14:54,840 Speaker 1: just ra Sean McDonald and you're listening to Money Making 283 00:14:54,880 --> 00:14:58,640 Speaker 1: Conversation Laura Foods. She's the best seven years now located 284 00:14:58,680 --> 00:15:02,800 Speaker 1: in Forest Bille for is the old Maryland UH Financial 285 00:15:02,840 --> 00:15:08,240 Speaker 1: Services Foods as i OS Financial Services LLC. She is 286 00:15:08,280 --> 00:15:11,280 Speaker 1: one of the best in the business. Tivin is um 287 00:15:11,320 --> 00:15:14,440 Speaker 1: What are the three top reasons why you see clients 288 00:15:15,120 --> 00:15:16,880 Speaker 1: and why they old taxes? What are the three top 289 00:15:16,960 --> 00:15:19,400 Speaker 1: reasons that clients old taxes because I try to avoid that, 290 00:15:19,480 --> 00:15:23,040 Speaker 1: but I still oh every year. Right, Well, I think 291 00:15:23,080 --> 00:15:26,240 Speaker 1: that one of the biggest ones is because a lot 292 00:15:26,280 --> 00:15:29,360 Speaker 1: of times UM clients and I understand it because a 293 00:15:29,400 --> 00:15:31,160 Speaker 1: lot of my clients do it to me every year, 294 00:15:31,240 --> 00:15:33,240 Speaker 1: even though I asked them not to. They think that 295 00:15:33,280 --> 00:15:36,160 Speaker 1: their attax to payer is a magician, but we are not. 296 00:15:36,280 --> 00:15:39,800 Speaker 1: We are a tax preparers. So the biggest mistake that 297 00:15:39,880 --> 00:15:42,560 Speaker 1: people making I get it. They need their money during 298 00:15:42,560 --> 00:15:45,680 Speaker 1: the year on their paycheck during the year. However, then 299 00:15:45,680 --> 00:15:48,080 Speaker 1: we get to tax time and they owe all of 300 00:15:48,120 --> 00:15:50,040 Speaker 1: this money and then they look at me and just 301 00:15:50,160 --> 00:15:51,760 Speaker 1: like you said, I want to be happy when you 302 00:15:51,840 --> 00:15:54,480 Speaker 1: have me signed. But there are sometimes that if you 303 00:15:54,600 --> 00:15:58,320 Speaker 1: are making you know, sixties seventy thousand dollars a year 304 00:15:58,360 --> 00:16:02,200 Speaker 1: and you have five dadars withheld in taxes during the year, 305 00:16:02,240 --> 00:16:04,800 Speaker 1: there's nothing that I can do to help you with 306 00:16:04,880 --> 00:16:10,000 Speaker 1: that unless you have all kinds of dollars a year 307 00:16:10,320 --> 00:16:15,640 Speaker 1: and only five dollars tax yes, and then they're like I, oh, 308 00:16:15,680 --> 00:16:19,240 Speaker 1: oh my gosh. So I do always have UM. Of 309 00:16:19,280 --> 00:16:22,040 Speaker 1: course on my social media, I'm Laura Foods. There aren't 310 00:16:22,080 --> 00:16:25,360 Speaker 1: links in my io with helpful links that you would 311 00:16:25,520 --> 00:16:28,000 Speaker 1: use UM directly from the I r S site where 312 00:16:28,000 --> 00:16:31,960 Speaker 1: they have a withholdings calculator. They tell you exactly UM 313 00:16:32,080 --> 00:16:35,440 Speaker 1: what you should be withholding UM. So I encourage all 314 00:16:35,480 --> 00:16:38,440 Speaker 1: of our guests, even if you haven't done it recently, 315 00:16:38,480 --> 00:16:41,320 Speaker 1: to do it this year, just to make sure that 316 00:16:41,360 --> 00:16:44,440 Speaker 1: with the new tax laws, with the new tax tables, 317 00:16:44,480 --> 00:16:47,520 Speaker 1: that you were withholding the correct amount of money. 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That's O T T E R 352 00:18:43,560 --> 00:18:47,960 Speaker 1: dot Ai. Another reason why I think that a lot 353 00:18:47,960 --> 00:18:51,000 Speaker 1: of my clients maybe end up owing is maybe they 354 00:18:51,040 --> 00:18:55,679 Speaker 1: had a change in their situation and maybe their tax repair. 355 00:18:55,760 --> 00:18:58,680 Speaker 1: Which is why I do pride myself on not only 356 00:18:58,720 --> 00:19:01,520 Speaker 1: am I doing your taxes for this year, We're gonna 357 00:19:01,600 --> 00:19:04,920 Speaker 1: also have a conversation about the current year that we're 358 00:19:05,040 --> 00:19:08,280 Speaker 1: in and are you gonna be better prepared. So let's 359 00:19:08,320 --> 00:19:11,080 Speaker 1: say maybe you're you've had your children, and you were 360 00:19:11,359 --> 00:19:14,159 Speaker 1: um that you were getting a two thousand dollar deduction 361 00:19:14,600 --> 00:19:18,240 Speaker 1: for your children, right because under their age of sixteen 362 00:19:18,240 --> 00:19:21,400 Speaker 1: and under, you get a two thousand dollar credit for them. 363 00:19:21,640 --> 00:19:26,080 Speaker 1: But then once they turned sixteen, whoa, Now that deduction 364 00:19:26,119 --> 00:19:29,040 Speaker 1: goes down to five hundred dollars. And if you were 365 00:19:29,040 --> 00:19:32,000 Speaker 1: not prepared for that and your tax to payer didn't 366 00:19:32,000 --> 00:19:34,639 Speaker 1: go over, hey, make sure next year you plan for 367 00:19:34,680 --> 00:19:38,080 Speaker 1: this because you're gonna lose that fifteen hundred dollar deduction. 368 00:19:38,720 --> 00:19:42,640 Speaker 1: Then maybe then your tax you know, your criteria changes, 369 00:19:43,080 --> 00:19:45,840 Speaker 1: or maybe your child now is just like we were 370 00:19:45,840 --> 00:19:48,520 Speaker 1: talking to, our children get older, now they're working, they're 371 00:19:48,960 --> 00:19:52,560 Speaker 1: um supporting themselves. I was always able to claim the 372 00:19:52,560 --> 00:19:56,639 Speaker 1: head of household deduction which is now eighteen thousand, three fifty. 373 00:19:56,840 --> 00:19:58,639 Speaker 1: And now I lose my child and now I have 374 00:19:58,760 --> 00:20:01,479 Speaker 1: to file single and that deduction is only like a 375 00:20:01,520 --> 00:20:06,160 Speaker 1: twelve thousand dollar deduction. Um. So unfortunately people don't consult 376 00:20:06,200 --> 00:20:09,400 Speaker 1: when these life things happen. Maybe they don't consult their 377 00:20:09,480 --> 00:20:12,000 Speaker 1: tax person or you know, they should certainly check their 378 00:20:12,040 --> 00:20:15,240 Speaker 1: withhold news. Again, this is a lot of information, lawrel 379 00:20:15,720 --> 00:20:18,280 Speaker 1: What are you talking too fast? Because I know you 380 00:20:18,320 --> 00:20:22,760 Speaker 1: all say that I talked way to getting it just overwhelmed. 381 00:20:22,920 --> 00:20:26,280 Speaker 1: I can see why I have I'm afraid to do 382 00:20:26,359 --> 00:20:29,240 Speaker 1: my taxes. Okay, First of all, you know you know 383 00:20:29,280 --> 00:20:32,320 Speaker 1: all these do you take classes? Which if you go 384 00:20:32,520 --> 00:20:36,320 Speaker 1: like conferences in Las Vegas or something, how you stand? Well, 385 00:20:36,359 --> 00:20:38,320 Speaker 1: I wish I wish I was in Vegas. I have 386 00:20:38,400 --> 00:20:41,159 Speaker 1: not been back to Vegas since the Neighborhood Awards and 387 00:20:41,200 --> 00:20:44,800 Speaker 1: I refused to go until the Neighborhood Awards come back. No, 388 00:20:44,960 --> 00:20:48,399 Speaker 1: we don't have conferences, unfortunately I haven't attended them in Vegas. 389 00:20:48,480 --> 00:20:51,520 Speaker 1: But we do have to have because we are if 390 00:20:51,560 --> 00:20:55,320 Speaker 1: you are going to prepare, like I'm a license prepared. 391 00:20:55,359 --> 00:20:58,560 Speaker 1: So yes, I have to have continuing education hours every year. 392 00:20:58,920 --> 00:21:00,679 Speaker 1: If you look up my aim on the I R 393 00:21:00,760 --> 00:21:03,159 Speaker 1: S website you will see so I do use the 394 00:21:03,240 --> 00:21:06,520 Speaker 1: hashtag check the credentials. So no, we don't want to 395 00:21:06,520 --> 00:21:08,639 Speaker 1: be going to those tax of parents that are using 396 00:21:08,720 --> 00:21:13,000 Speaker 1: turbo tax in their basement. And your return said self prepared. 397 00:21:13,280 --> 00:21:15,840 Speaker 1: So okay, that is a big mistake. That's a lot 398 00:21:15,840 --> 00:21:18,560 Speaker 1: of times where people end up owing. Also, you think 399 00:21:18,640 --> 00:21:21,440 Speaker 1: that you're going to you know, a tax repairer because 400 00:21:21,440 --> 00:21:24,200 Speaker 1: they're only charging you a hundred hours to do your taxes, 401 00:21:24,480 --> 00:21:26,680 Speaker 1: but they're doing them in your basement. And then when 402 00:21:26,680 --> 00:21:29,360 Speaker 1: you get that letter three or four years later from 403 00:21:29,400 --> 00:21:32,160 Speaker 1: the I R S asking you to explain what all 404 00:21:32,200 --> 00:21:36,320 Speaker 1: this stuff is on your tax return and you never 405 00:21:36,359 --> 00:21:39,000 Speaker 1: asked the tax repairer to put it on there, then yes, 406 00:21:39,119 --> 00:21:41,600 Speaker 1: you will owe kindly all of those years that they 407 00:21:41,600 --> 00:21:46,160 Speaker 1: audit when you can't provide documentation or verifications. That's another 408 00:21:46,200 --> 00:21:48,119 Speaker 1: good see. So that's our third one right there, And 409 00:21:48,160 --> 00:21:50,359 Speaker 1: that wasn't even on my list, but that was another 410 00:21:50,400 --> 00:21:55,480 Speaker 1: good one. While people owe we are remember when I 411 00:21:55,480 --> 00:21:57,880 Speaker 1: first started doing my taxes, I didn't want to pay 412 00:21:57,880 --> 00:22:00,400 Speaker 1: the tax person. I used to argue with Hey man, 413 00:22:00,400 --> 00:22:03,560 Speaker 1: this is kind of high What are you talking about? 414 00:22:04,240 --> 00:22:06,119 Speaker 1: Can you come here? You know? You know, yeah, I 415 00:22:06,119 --> 00:22:09,040 Speaker 1: am the more the key part of my life from 416 00:22:09,040 --> 00:22:13,119 Speaker 1: accounting standpoint with the government. And I'm arguing with this 417 00:22:13,160 --> 00:22:17,639 Speaker 1: person by cutting the deal all my taxes and I 418 00:22:17,680 --> 00:22:19,440 Speaker 1: think you get that. I'm pretty sure you get a 419 00:22:19,480 --> 00:22:21,920 Speaker 1: lot of idiots like me to come in. Don't want 420 00:22:21,960 --> 00:22:24,639 Speaker 1: to think you over priced that. Don't don't try to 421 00:22:24,640 --> 00:22:27,640 Speaker 1: figure out you know, all this paperwork they just throwed 422 00:22:27,680 --> 00:22:30,000 Speaker 1: you to hand you a trash bag full of information. 423 00:22:30,480 --> 00:22:32,800 Speaker 1: You gotta put it all together. Then you put it 424 00:22:32,840 --> 00:22:36,040 Speaker 1: all together. Then they come back, go this much, I 425 00:22:36,080 --> 00:22:40,399 Speaker 1: gotta pay you this much? Right? Why? Why why are 426 00:22:40,480 --> 00:22:42,760 Speaker 1: we idiots like that? Because I because I did it. 427 00:22:42,840 --> 00:22:44,600 Speaker 1: I did that. Now now I don't do that now 428 00:22:44,720 --> 00:22:46,760 Speaker 1: I realized that. You know, I got a c p A. 429 00:22:46,920 --> 00:22:49,200 Speaker 1: You know, been doing it for twenty three years. I'm 430 00:22:49,200 --> 00:22:51,560 Speaker 1: talking about about early years. I'm sure I was pretty stupid. 431 00:22:52,440 --> 00:22:55,480 Speaker 1: I had to go apologize to a good friend of mine. 432 00:22:56,119 --> 00:22:58,639 Speaker 1: She's in Houston, and when she's doing my taxes and 433 00:22:58,840 --> 00:23:01,399 Speaker 1: when they start creeping up in to the thousands, I 434 00:23:01,520 --> 00:23:05,959 Speaker 1: was like, whoa, whoa, whoa, who WHOA, what's going on here? 435 00:23:06,280 --> 00:23:10,240 Speaker 1: We should first of all making money money, okay, So 436 00:23:10,240 --> 00:23:13,080 Speaker 1: so and when you make money, guess what certain things 437 00:23:13,119 --> 00:23:15,000 Speaker 1: you got to have in place. You know, you got 438 00:23:15,000 --> 00:23:18,000 Speaker 1: full one cage, you got all these deductions, you travel, 439 00:23:18,440 --> 00:23:20,400 Speaker 1: you know, if we got to pull all this down. 440 00:23:20,440 --> 00:23:22,479 Speaker 1: And also, like you said, you don't want to be 441 00:23:22,800 --> 00:23:24,800 Speaker 1: you only get that phone call four or five years 442 00:23:24,880 --> 00:23:27,200 Speaker 1: later or one year later talking about you file at 443 00:23:27,200 --> 00:23:29,960 Speaker 1: the wrong time, because I've had these phone calls, okay, 444 00:23:30,920 --> 00:23:33,920 Speaker 1: and you talk about the filing part is nervous. When 445 00:23:33,920 --> 00:23:36,639 Speaker 1: you get that letter, you get one of those letters 446 00:23:36,680 --> 00:23:38,719 Speaker 1: because like you always say that I Arrest normally does 447 00:23:38,800 --> 00:23:41,320 Speaker 1: not call you directly, but you will get that letter 448 00:23:41,400 --> 00:23:44,040 Speaker 1: in the mail um and they will keep sending you 449 00:23:44,160 --> 00:23:47,880 Speaker 1: letters until you respond or they are or they are 450 00:23:47,880 --> 00:23:50,800 Speaker 1: certainly able to Garners wages. So we certainly do will 451 00:23:50,840 --> 00:23:54,320 Speaker 1: not want to for the I R S. We don't 452 00:23:54,359 --> 00:23:57,800 Speaker 1: want to play with them, communicate with them, set up 453 00:23:57,840 --> 00:24:00,439 Speaker 1: payment plans with them. They will certainly were with you, 454 00:24:00,480 --> 00:24:02,760 Speaker 1: but yes, do not play around with the I R as. 455 00:24:03,359 --> 00:24:06,600 Speaker 1: This is like a testimonial show for me. Boy, It's 456 00:24:06,600 --> 00:24:10,800 Speaker 1: the first time I publicly admitted all my ignorance about taxes, 457 00:24:10,880 --> 00:24:13,000 Speaker 1: you know, but that happens. But you are not alone. 458 00:24:13,080 --> 00:24:16,640 Speaker 1: You are certain. I'm in the club by myself because 459 00:24:16,640 --> 00:24:19,040 Speaker 1: it comes to this, because I can't speak that for 460 00:24:19,080 --> 00:24:21,840 Speaker 1: everybody else. Lord, you're an expert. You talk to a 461 00:24:21,880 --> 00:24:25,680 Speaker 1: guy over here that, as matured over the years, got 462 00:24:25,720 --> 00:24:30,160 Speaker 1: the right people around me to protect me sitting over there. Hey, 463 00:24:30,240 --> 00:24:33,480 Speaker 1: I've had the person in the basement do my taxes. 464 00:24:33,680 --> 00:24:36,480 Speaker 1: Remember my friend, this is this guy he was he 465 00:24:36,600 --> 00:24:39,600 Speaker 1: sold insurance, but he did taxes on the side. Oh 466 00:24:39,600 --> 00:24:43,080 Speaker 1: his Rachel good, Rachel Good. I bet they were good. 467 00:24:43,320 --> 00:24:46,480 Speaker 1: But you got a real nicely really really really good 468 00:24:46,520 --> 00:24:52,879 Speaker 1: refundsition absolutely letter a few years later saying can you 469 00:24:53,000 --> 00:24:56,879 Speaker 1: please verify send us documentation to verify this and this, 470 00:24:57,119 --> 00:24:59,000 Speaker 1: And you're like, I didn't even know I put that 471 00:24:59,080 --> 00:25:01,560 Speaker 1: one day. Oh my god, oh my god. This is 472 00:25:01,600 --> 00:25:04,520 Speaker 1: this is like this is like this is flashbacks. I 473 00:25:04,560 --> 00:25:07,000 Speaker 1: remember flashback because you know, at one point you have 474 00:25:07,040 --> 00:25:09,400 Speaker 1: to grow up and realize that, you know, that's why 475 00:25:09,400 --> 00:25:11,119 Speaker 1: I do the show, because you can't be perfect when 476 00:25:11,160 --> 00:25:13,000 Speaker 1: you do this show. You have to show flaws and 477 00:25:13,280 --> 00:25:15,840 Speaker 1: be honest with people and also let them know that 478 00:25:16,280 --> 00:25:18,600 Speaker 1: the reason I have you on the show is because 479 00:25:18,600 --> 00:25:21,600 Speaker 1: of the fact that your level of expertise is needed 480 00:25:21,640 --> 00:25:25,600 Speaker 1: for anybody, not just people in business, but individuals because 481 00:25:26,040 --> 00:25:29,040 Speaker 1: the government, the government does not play when it comes 482 00:25:29,040 --> 00:25:31,879 Speaker 1: to these taxes. And if you don't finally taxes, they 483 00:25:31,960 --> 00:25:36,960 Speaker 1: will put you in jail. Yes, and and I've talked 484 00:25:36,960 --> 00:25:39,399 Speaker 1: a lot about this year. They were also those tax 485 00:25:39,440 --> 00:25:42,040 Speaker 1: of parents that we're doing all of that funny stuff. 486 00:25:42,040 --> 00:25:44,680 Speaker 1: They will now when they find the taxi parents are 487 00:25:44,800 --> 00:25:49,720 Speaker 1: consistently submitting fraudulent returns, they are now putting tax reparents 488 00:25:49,760 --> 00:25:52,040 Speaker 1: in jail. So I I do let clients know. Now, 489 00:25:52,040 --> 00:25:54,280 Speaker 1: wait a minute, I'm not going to jail. Orange is 490 00:25:54,320 --> 00:25:56,359 Speaker 1: my favorite color. I do not I don't think I 491 00:25:56,480 --> 00:25:58,760 Speaker 1: wear it well though, So now I'm not going to 492 00:25:58,840 --> 00:26:01,919 Speaker 1: jail for anyone to get a refund or them to 493 00:26:01,960 --> 00:26:04,440 Speaker 1: get extra money. Though I do make sure we walk 494 00:26:04,520 --> 00:26:07,680 Speaker 1: through the process to make sure you get any deductions 495 00:26:07,720 --> 00:26:09,879 Speaker 1: that you are do or that maybe you were not 496 00:26:09,960 --> 00:26:12,439 Speaker 1: aware of. So let me not say that like I 497 00:26:12,480 --> 00:26:15,080 Speaker 1: will make sure that you get everything that you deserve. 498 00:26:15,560 --> 00:26:17,560 Speaker 1: And and just because I'm in Maryland, you have to 499 00:26:17,640 --> 00:26:20,160 Speaker 1: let your guests know, just because I reside in Maryland, 500 00:26:20,200 --> 00:26:24,160 Speaker 1: DC area. You know, most of my clients, probably percent 501 00:26:24,240 --> 00:26:26,840 Speaker 1: of my clients are remote clients. I never meet them 502 00:26:26,840 --> 00:26:29,760 Speaker 1: in person. We have a perfect system, UM, and the 503 00:26:29,840 --> 00:26:33,480 Speaker 1: intakes form. It's an online systems and then we communicate 504 00:26:33,600 --> 00:26:36,240 Speaker 1: via you know. Now we have conference calls, we have 505 00:26:36,359 --> 00:26:39,760 Speaker 1: zoom meetings. DOCU sign your documents, UM, so I can 506 00:26:39,800 --> 00:26:43,800 Speaker 1: work with any of your clients across the country. You 507 00:26:43,320 --> 00:26:46,000 Speaker 1: can give me a social media banner this week so 508 00:26:46,040 --> 00:26:49,120 Speaker 1: I can post it. Yeah. Now let's talk about your 509 00:26:49,280 --> 00:26:53,560 Speaker 1: your your show, Ask foods? Are you still doing that? Um? 510 00:26:53,600 --> 00:26:57,000 Speaker 1: I do? UM still do ask foods, which we normally 511 00:26:57,080 --> 00:27:00,320 Speaker 1: do like a tax tip Tuesday segment of course. Now 512 00:27:00,440 --> 00:27:03,160 Speaker 1: just because in the midst of tax season it gets 513 00:27:03,200 --> 00:27:06,240 Speaker 1: a little difficult for me. Um, just because most of 514 00:27:06,240 --> 00:27:08,680 Speaker 1: you know I. You know, I still have the corporate career, 515 00:27:08,720 --> 00:27:11,200 Speaker 1: I still have the salon, I still have said the kid, 516 00:27:11,240 --> 00:27:14,240 Speaker 1: and then I'm doing taxes. So but I normally on 517 00:27:14,520 --> 00:27:18,680 Speaker 1: my page and every day posting informational content. Let's put 518 00:27:18,720 --> 00:27:21,119 Speaker 1: it that way, so they can always follow my page 519 00:27:21,200 --> 00:27:25,280 Speaker 1: for informational content. And I am launching because I've had 520 00:27:25,320 --> 00:27:28,280 Speaker 1: so many people, especially probably from being on your show 521 00:27:28,600 --> 00:27:32,160 Speaker 1: that we're asking not just about finance, you know, about taxes, 522 00:27:32,200 --> 00:27:35,080 Speaker 1: but when are we gonna start talking more about budgeting 523 00:27:35,200 --> 00:27:39,720 Speaker 1: and saving and small businesses multiple streams of income setting 524 00:27:39,800 --> 00:27:42,560 Speaker 1: up the businesses how to set up my system correctly? 525 00:27:42,600 --> 00:27:46,600 Speaker 1: So I did. Finally in the off season December and January, 526 00:27:46,760 --> 00:27:51,480 Speaker 1: I created a five a five week master class programs 527 00:27:52,160 --> 00:27:55,000 Speaker 1: and hopefully we will be launching that next month so 528 00:27:55,040 --> 00:27:57,920 Speaker 1: that I can work you know, because my tax client say, Laura, 529 00:27:57,960 --> 00:27:59,840 Speaker 1: I hate that I only talk to you once or 530 00:28:00,040 --> 00:28:02,520 Speaker 1: white a year. You know, I need to work with 531 00:28:02,560 --> 00:28:05,800 Speaker 1: you more ongoing, and because I'm only one person, um, 532 00:28:05,840 --> 00:28:08,800 Speaker 1: that gets difficult to do. So I have created this 533 00:28:08,880 --> 00:28:12,639 Speaker 1: class so that I can work with individuals over you know, 534 00:28:12,680 --> 00:28:16,199 Speaker 1: a five week program which inevitably will go to you know, 535 00:28:16,359 --> 00:28:18,800 Speaker 1: working with them and holding their hand, probably over a 536 00:28:18,880 --> 00:28:21,080 Speaker 1: six month period. So I'm hoping that we'll be able 537 00:28:21,119 --> 00:28:24,080 Speaker 1: to launch that as tax season ends. Then I'll be 538 00:28:24,480 --> 00:28:26,640 Speaker 1: starting that up. So let me ask you this, lord, 539 00:28:26,800 --> 00:28:28,840 Speaker 1: So is that a one off class? Are you somewhere? 540 00:28:28,840 --> 00:28:31,159 Speaker 1: They come to the class, they kind of register and 541 00:28:31,440 --> 00:28:34,000 Speaker 1: you create the tax relationship with them, and that's what 542 00:28:34,040 --> 00:28:37,240 Speaker 1: you're talking about. Well, the class will all be an 543 00:28:37,280 --> 00:28:40,440 Speaker 1: online class. So I have taken the time to create 544 00:28:40,480 --> 00:28:42,600 Speaker 1: a five week master class, so there will be a 545 00:28:42,640 --> 00:28:48,080 Speaker 1: master class about budgeting, savings, UM, multiple streams of income 546 00:28:48,680 --> 00:28:51,080 Speaker 1: and all of those things. So it will be an 547 00:28:51,120 --> 00:28:54,760 Speaker 1: online class. And then every week I will be doing 548 00:28:54,800 --> 00:28:57,720 Speaker 1: a call with you know, the clients, so that we 549 00:28:57,800 --> 00:29:00,280 Speaker 1: are going through this. And then as we were through 550 00:29:00,320 --> 00:29:03,600 Speaker 1: that six month process out, they'll be having homework. They'll 551 00:29:03,600 --> 00:29:06,480 Speaker 1: have to submit their budget, They'll have to show me 552 00:29:06,560 --> 00:29:09,640 Speaker 1: how they're doing what their savings will go over their 553 00:29:09,720 --> 00:29:12,520 Speaker 1: small business, you know, how they have their accounts set 554 00:29:12,600 --> 00:29:16,000 Speaker 1: up and tracking their expenses. So I'm excited because now 555 00:29:16,040 --> 00:29:19,240 Speaker 1: I'll really get to work with people UM instead of 556 00:29:19,280 --> 00:29:22,360 Speaker 1: just during tax season. So I'm really excited about launching 557 00:29:22,360 --> 00:29:25,640 Speaker 1: the program. So I'm hoping that as soon, like I said, 558 00:29:25,640 --> 00:29:28,560 Speaker 1: it's recorded and done. I just have to get through 559 00:29:29,120 --> 00:29:32,080 Speaker 1: tax season and then we'll be launching that. What So 560 00:29:32,400 --> 00:29:34,040 Speaker 1: it means you'll be back on the show with probos 561 00:29:34,160 --> 00:29:36,880 Speaker 1: the second quarter, that's when you're gonna do it? Yes, well, 562 00:29:36,920 --> 00:29:38,640 Speaker 1: you know, I will reach out to you all as 563 00:29:38,680 --> 00:29:41,040 Speaker 1: soon as I am launching it so that you can 564 00:29:41,240 --> 00:29:43,560 Speaker 1: see it. And like I said, so then I can 565 00:29:43,600 --> 00:29:46,520 Speaker 1: work with people all year round. So I'm really excited 566 00:29:46,520 --> 00:29:49,080 Speaker 1: about that. That's awesome. Now let's let's this is a 567 00:29:49,120 --> 00:29:52,040 Speaker 1: simple question, but I think it's necessary. When do you 568 00:29:52,120 --> 00:29:57,280 Speaker 1: start if you're if you're filing taxes in tax season, 569 00:29:57,560 --> 00:30:02,520 Speaker 1: when should a person start prepping for taxes versus an 570 00:30:02,560 --> 00:30:08,240 Speaker 1: individual then as a business um as an individual hopefully 571 00:30:08,560 --> 00:30:11,640 Speaker 1: in the year. So if we so I want to 572 00:30:11,640 --> 00:30:15,240 Speaker 1: talk about we're in twenty twenty now and will file 573 00:30:15,280 --> 00:30:19,160 Speaker 1: at the beginning of one because in preparing for it, 574 00:30:19,520 --> 00:30:23,320 Speaker 1: of course, individuals need to be checking their withholdings and 575 00:30:23,320 --> 00:30:25,800 Speaker 1: then at the end of the year. So normally you 576 00:30:25,840 --> 00:30:30,120 Speaker 1: will start getting documents with your December thirty first statements 577 00:30:30,280 --> 00:30:32,840 Speaker 1: or by January thirty if they have to send out 578 00:30:32,840 --> 00:30:36,239 Speaker 1: your W two's or ten nine or ten ninety eight. 579 00:30:36,400 --> 00:30:39,719 Speaker 1: So individuals, of course you should be you know, you 580 00:30:39,760 --> 00:30:42,840 Speaker 1: should have a folder or you know, some type of 581 00:30:42,920 --> 00:30:45,680 Speaker 1: envelope whereas all of these documents come in, you are 582 00:30:45,760 --> 00:30:49,000 Speaker 1: saving you're you're saving them, or if you make donations 583 00:30:49,000 --> 00:30:52,480 Speaker 1: throughout the year, saving those receipts, or you can also 584 00:30:52,600 --> 00:30:56,720 Speaker 1: most individuals now can itemize, you know, their house donations 585 00:30:56,760 --> 00:31:00,720 Speaker 1: and medical expenses Unfortunately for individuals that's all you know, 586 00:31:00,800 --> 00:31:03,000 Speaker 1: that's about it that you can itemize. Now with the 587 00:31:03,120 --> 00:31:06,440 Speaker 1: law changes, they took a lot of that away. Now, businesses, 588 00:31:06,920 --> 00:31:09,680 Speaker 1: you have taxes. Like you said, for yourself, taxes is 589 00:31:09,760 --> 00:31:13,160 Speaker 1: all year long, so that you know, businesses don't start 590 00:31:13,200 --> 00:31:16,920 Speaker 1: getting their stuff together businesses, because you want to be 591 00:31:17,080 --> 00:31:21,000 Speaker 1: able to write off everything that is related to your business. 592 00:31:21,240 --> 00:31:24,760 Speaker 1: So hopefully you are tracking those expenses during the year 593 00:31:24,800 --> 00:31:28,040 Speaker 1: and keeping those receipts, which I know is an overwhelming 594 00:31:28,080 --> 00:31:31,280 Speaker 1: task because most people in your business. You're good at 595 00:31:31,360 --> 00:31:34,400 Speaker 1: what your businesses and you're not necessarily good at the 596 00:31:34,480 --> 00:31:37,240 Speaker 1: financial side of it. Um And that's why there's a 597 00:31:37,280 --> 00:31:39,880 Speaker 1: link in my bio for the quick book app that 598 00:31:39,960 --> 00:31:43,640 Speaker 1: I recommend, and it keeps track of your income, it 599 00:31:43,720 --> 00:31:46,040 Speaker 1: keeps track of your expenses, even keeps track of the 600 00:31:46,120 --> 00:31:49,520 Speaker 1: mileage right on your phone. That's a huge deduction for 601 00:31:49,680 --> 00:31:53,000 Speaker 1: business owners. So anything that you are doing to and 602 00:31:53,080 --> 00:31:57,080 Speaker 1: from and meetings and classes and clients, you get fifty 603 00:31:57,120 --> 00:32:00,160 Speaker 1: eight cents a mile, So that's a huge deduction. We 604 00:32:00,200 --> 00:32:03,240 Speaker 1: need to be keeping track of that. So business owners, 605 00:32:03,240 --> 00:32:07,720 Speaker 1: small business owners, side hustle owners, um, any of those things. 606 00:32:07,760 --> 00:32:09,880 Speaker 1: You know, this is all year long. You have to 607 00:32:09,960 --> 00:32:11,960 Speaker 1: keep track of it to make sure you're getting all 608 00:32:12,000 --> 00:32:15,160 Speaker 1: of those deductions. That's so important. It's awesome, Laura. How 609 00:32:15,440 --> 00:32:18,680 Speaker 1: can we get in touch with you? The best way, 610 00:32:18,800 --> 00:32:21,240 Speaker 1: just like you said, to find me. Everybody can find 611 00:32:21,280 --> 00:32:26,000 Speaker 1: me or insta. Instagram is um at, I'm I am Laura, 612 00:32:26,520 --> 00:32:30,560 Speaker 1: l A U r A foosts like frank Oos like 613 00:32:30,680 --> 00:32:35,440 Speaker 1: samum or. My email is foost at ask foost dot com. 614 00:32:35,560 --> 00:32:39,320 Speaker 1: Very easy, my friend. As always, your wonderful and your 615 00:32:39,480 --> 00:32:42,200 Speaker 1: energy wonderful in your approach to how you do. This 616 00:32:42,280 --> 00:32:44,320 Speaker 1: is your gift, this is your passion. They are all 617 00:32:44,360 --> 00:32:47,600 Speaker 1: one and the same, but some people try to differentiate them. 618 00:32:47,760 --> 00:32:49,720 Speaker 1: That's why I just put them both out there. Again. 619 00:32:49,720 --> 00:32:51,440 Speaker 1: Thank you for coming on my show. And I also 620 00:32:51,480 --> 00:32:53,880 Speaker 1: send me a social media banner. Always send me a 621 00:32:53,920 --> 00:32:55,880 Speaker 1: social media bntagers when we get that posted and get 622 00:32:55,920 --> 00:32:58,640 Speaker 1: some help for some of these people like me, Yes, 623 00:32:58,920 --> 00:33:01,840 Speaker 1: I got you, Okay, than so much. I'll take care. 624 00:33:03,360 --> 00:33:06,080 Speaker 1: In this season of giving, Coals has gifts for all 625 00:33:06,160 --> 00:33:08,719 Speaker 1: your loved ones. For those who like to keep it cozy, 626 00:33:08,920 --> 00:33:13,600 Speaker 1: find fleeces, sweaters, loungeware, blankets and throws or support minority 627 00:33:13,640 --> 00:33:16,800 Speaker 1: owned or founded brands by giving gifts from human Nation 628 00:33:16,920 --> 00:33:20,360 Speaker 1: and shame moisture and in the spirit of giving, Coals 629 00:33:20,440 --> 00:33:24,880 Speaker 1: Cares is donating eight million dollars to local nonprofits nationwide. 630 00:33:25,200 --> 00:33:27,680 Speaker 1: Give with all your heart this season with great gifts 631 00:33:27,720 --> 00:33:31,760 Speaker 1: from Coals or coals dot com. 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