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Speaker 1: Welcome to Money Making Conversations. It's the show that she

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Speaker 1: has the secrets of success experience firsthand by marketing and

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Speaker 1: Brandon expert Rashan McDonald. I will know he's giving me

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Speaker 1: advice to many occasions. And in case you didn't notice,

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Speaker 1: I'm not broke. You know he'll be interviewing celebrity CEOs,

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Speaker 1: entrepreneurs and industry decision make because it's what he likes

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Speaker 1: to do, it's what he likes to share. Now it's

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Speaker 1: time to hear from my man, Rashan McDonald money Making Conversations.

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Speaker 1: Here we go. Thank you, Thank you for that amazing

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Speaker 1: intro about money making Conversation Masterclass. I'm your host with

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Speaker 1: Sean McDonald and that's there all which I want to

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Speaker 1: hear from you today, nationwide, local, around the corner. Because

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Speaker 1: this show is about information, information that I try to

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Speaker 1: do research or with my team. And when I say try,

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Speaker 1: because sometimes you don't know how much research you need

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Speaker 1: to do. This is how much information I've gathered and

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Speaker 1: I presented on this show. You take that information and

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Speaker 1: you do your own research and make a decision. I

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Speaker 1: feel will be positive because when I try to bring

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Speaker 1: own money making Conversations master class. It's information that you

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Speaker 1: can use in your career, in your personal life, and

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Speaker 1: your family life. Make decisions that will make your life better,

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Speaker 1: but also open your mind on other options that are

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Speaker 1: out there that you may not consider to be an

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Speaker 1: opportunity for you, because I recognize that we all have

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Speaker 1: different definitions of success. For you, it may be the

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Speaker 1: size of your paycheck, mind is and inspiring you to

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Speaker 1: accomplish your goals and live your very best life. It's

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Speaker 1: time to stop reading other people's success stories and start

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Speaker 1: writing your own. People always talk about their purpose or gifts.

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Speaker 1: If you have a gift, lead with your gifts and

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Speaker 1: know that your friends, family, or co workers. Stop even

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Speaker 1: planning or living your dreams. Like all ways, we're always

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Speaker 1: discussing ways to overcome the odds in your life. That's

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Speaker 1: important because we all will face especially with people of

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Speaker 1: color African Americans. You know, I always tell people when

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Speaker 1: I walk in a room, people know I'm black. I

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Speaker 1: can't hide, I can't say I'm nothing else, but who

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Speaker 1: I am a person of color based on my skin tone.

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Speaker 1: That is odds. You know, arts can lead to a

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Speaker 1: situation that we recently a headline the news is police

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Speaker 1: brutality and how people of color tend to be the

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Speaker 1: especially black people, especially black men and black women. We

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Speaker 1: have to include remember there's no gender or discrimination when

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Speaker 1: it comes to police brutality in this country, especially when

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Speaker 1: the Memphis situation was black police officers brutally beating a

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Speaker 1: black man, and that was like the game changer for

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Speaker 1: a lot of ways because if it turns finger point

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Speaker 1: both ways. Now, see y'all do it too. See y'all

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Speaker 1: do it too. And that's the life we live into.

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Speaker 1: We live in, you know, and again stopped by police

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Speaker 1: officer or engage in the situations positive negative, it always

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Speaker 1: leaves with am I the next one app a lot

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Speaker 1: of uncertainty and that's where money making conversations about clearing

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Speaker 1: up that uncertainty. But guests on the show that they

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Speaker 1: represent people who were making a difference in the crypto

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Speaker 1: and tax community. Crypto. We're gonna get in detail about that,

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Speaker 1: but before we get there, I want to start updating

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Speaker 1: some guests from the past, some people who have come

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Speaker 1: on the show and made an impact and people are

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Speaker 1: reacted to their either face puts some dm me on

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Speaker 1: my social media, sending emails or calling me or texting me.

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Speaker 1: I've been stopped by several individuals since my interview with

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Speaker 1: engine Enginette Dowles. She is the national director of NAKA.

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Speaker 1: NAKA if you don't know, it's the leading the fight

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Speaker 1: for economic jumps, justice and homeownership. They committed to helping

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Speaker 1: the underserved build generational wealth through access to affordable mortgages

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Speaker 1: and financial as system. They informed they have informed me

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Speaker 1: the people who have been contacting me that they have

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Speaker 1: NAKA appointments set up. That's important. They have made the

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Speaker 1: first step. What what what bothers me? Is I give

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Speaker 1: you this information and you don't use it. People are

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Speaker 1: telling me there using it. They're saying thank you for

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Speaker 1: the information. They've got an appointment set up. If you

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Speaker 1: want to learn more about NAKA, just go to their

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Speaker 1: website as naka dot com and NAKA can help you

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Speaker 1: turn your Section eight rent check into monthly mortgage payments.

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Speaker 1: You can buy home and you remember never thought that possible,

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Speaker 1: you know. As far as homeowners, NAKA has helped over

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Speaker 1: five hundred thousand. NAKA has mortgages out for seventy five

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Speaker 1: thousand and they mortgage financial commitment is twitty billion dollars.

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Speaker 1: So if you know about that, you want to do

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Speaker 1: some research, you go to NAKA. A lot of people

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Speaker 1: who have stopped in the streets, text me and emailed

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Speaker 1: me have a very enthusiastic about their appointment because they

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Speaker 1: feel it's gonna be a game changer for them as

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Speaker 1: far as when it comes to homeownership or impacting the

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Speaker 1: loan that they presently have on their mortgage. That's that

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Speaker 1: I said earlier about crypto Crypto. The reason I brought

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Speaker 1: that up is I want to talk about that before

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Speaker 1: I get into my interview, and I'm feared for me

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Speaker 1: with the person that I'm going to interview on the

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Speaker 1: show today FTX. FTX collapsed Sam Bankman, Fried freed or

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Speaker 1: fried or Fried. He was charged with stealing billions of

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Speaker 1: dollars from FTX customers and what prosecutors have described is

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Speaker 1: one of the largest financial frauds and US history. This

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Speaker 1: is crypto. Now, you know, I've had a lot of

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Speaker 1: people on the show talking about crypto, a lot of

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Speaker 1: people talking about you get rich on crypto. This man

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Speaker 1: has what they now say, Sam Bankman. They're saying he

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Speaker 1: has one of the largest financial frauds and US history

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Speaker 1: and it's tied to crypto. Now that's saying a lot.

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Speaker 1: I don't know if you ever heard this name. Bernie Madoff.

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Speaker 1: Now Bernie Madoff was pre Sam Bankman. He's the former

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Speaker 1: chief of Nastac and former and the founder of marketing

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Speaker 1: firm called Bernie Bernard am made Off. They just call

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Speaker 1: him Bernie for short investment securities was turned into. He

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Speaker 1: was turned in by his two sons and the rest

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Speaker 1: of two thousand and eight for running a widespread Ponzi scheme.

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Speaker 1: That's what people are saying about what Sam Bankman has

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Speaker 1: been doing. It's a Ponzi scheme. So what I'm just

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Speaker 1: telling y'all is that research research, research, research, follow advice,

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Speaker 1: following informationship with research. Now, at the time he was arrested,

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Speaker 1: he was seven years old. But he's passed away in

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Speaker 1: jail and they duped investors out of approximately fifty billion dollars.

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Speaker 1: He was sending to one hundred and fifty years behind bars.

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Speaker 1: Made Off died in prison at the age of eighty

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Speaker 1: two in twenty twenty one. Sam Bankman is only thirty

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Speaker 1: years of age. Thirty years of age. The largest they

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Speaker 1: sends the largest financial fraud and financial history. It's a

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Speaker 1: thirty year old individual who formerly if you follow basketball,

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Speaker 1: Miami Heat the arena was named after it. They had

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Speaker 1: to take the name down. I doubt now. I think

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Speaker 1: it's called the Miami Dade Arena as of the embarrassment

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Speaker 1: because the funds that he was funding the naming rights

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Speaker 1: for invalid. So if I've scared you away from investing

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Speaker 1: the crypto, please Jone, please don't get scared. Please do

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Speaker 1: your research. That's what this is all about. My next

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Speaker 1: guests I'm very familiar with. I didn't bring on the

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Speaker 1: show to defend crypto, which is talking about crypto. My

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Speaker 1: guests is Tavonia Evans. She's a native of New York

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Speaker 1: and the mompreneer. She has been called the Queen of Crypto.

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Speaker 1: She's been featured on Glamor Magazine, Women in Crypto, CNN, Bloomberg,

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Speaker 1: Complex TV, CNBC, Recalent, excuse Me, Reclaire, blavity Azzi. Tavania

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Speaker 1: made this transition into the world of block chains in

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Speaker 1: twenty sixteen, so she's no amateur. As a result of

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Speaker 1: identified cryptocurrency as a tool that could stimulate economic growth

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Speaker 1: and financial freedom within the black community. That's One of

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Speaker 1: the things we're gonna ask to her is that freedom

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Speaker 1: is still available to us after this incident with Sam.

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Speaker 1: She's one of the first black woman heralder. That's being

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Speaker 1: the founder and lead engineer and developing a corn with

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Speaker 1: such a mission within the black community. Please work with

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Speaker 1: the Money Main Conversation master Class, the one and only

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Speaker 1: the Queen of Crypto, Tavania Evans, how are you doing? Hi?

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Speaker 1: How are you a great You know, I wasn't trying

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Speaker 1: to frontload everything, and I'm trying to put you on

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Speaker 1: the spot. You know, our conversations are all about information,

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Speaker 1: and this is an information led conversation. But I just

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Speaker 1: wanted to set the tone because of the fact that

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Speaker 1: if since our last interview that we did on the show,

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Speaker 1: a lot has happened and with Crypto, and a lot

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Speaker 1: of people have been bad mofening. A lot of people

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Speaker 1: say I told you so, a lot of finger points

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Speaker 1: I told you so, I told you so, I told

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Speaker 1: you so so, And I told my staff. I said,

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Speaker 1: please let Tavania know that when you come on the

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Speaker 1: show today, I will be asking her some questions about Sam,

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Speaker 1: because you know, you are my expert in the level

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Speaker 1: of in this area of my knowledge barrier back carry

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Speaker 1: guards to what cryptos are all about. Before we get started,

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Speaker 1: tell everybody who don't know what crypto is, explain to

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Speaker 1: them what exactly is crypto. Crypto is new money. I

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Speaker 1: always like to start with the crypto as money, because

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Speaker 1: you know, most people are unaware that it's money. They

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Speaker 1: think it's some type of investment, you know, they think

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Speaker 1: it's a stop, they think it's a piece of a company.

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Speaker 1: But really what it is is what we call decentralized money, right,

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Speaker 1: and decentralized means that there is no middleman, there's no

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Speaker 1: government authority, there's no company. This is all done by software,

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Speaker 1: software that is transparent, meaning we all can see the

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Speaker 1: code and we all get to come together as a

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Speaker 1: community and vote in terms of what this money is

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Speaker 1: going to do and how it's going to oper So,

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Speaker 1: originally it was created as a tool, as a financial

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Speaker 1: tool to empower us the people, to be able to

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Speaker 1: control our own money and be our own bank. And

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Speaker 1: then we say be our own bank, what exactly does

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Speaker 1: that mean to buy you? Well, when you have crypto

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Speaker 1: and you have a crypto wallet, you are the owner

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Speaker 1: of that crypto and that crypto wallet, no one can

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Speaker 1: decide that they're going to freeze your account. No one

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Speaker 1: can get into your wallet and send your money somewhere

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Speaker 1: else unless you share your private key, and that is

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Speaker 1: at the real that's what we call like the real

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Speaker 1: crypto purism. Nowadays, there are so many crystodial features in

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Speaker 1: crypto that mimic our current financial system and our banking system,

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Speaker 1: and it's been kind of like adulterated so much that

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Speaker 1: most people don't know the pure principles of crypto and

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Speaker 1: why was even created in the first place. All they

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Speaker 1: know is this crypto that strongly resembles and looks like

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Speaker 1: what we have right now when we have our bank account,

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Speaker 1: and that's not what crypto it is supposed to do.

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Speaker 1: Let's talk about Sam thirty years old, so obviously getting

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Speaker 1: into the crypto financial industry way before hit the age

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Speaker 1: of thirty. How did he do? This is a broad

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Speaker 1: question and you can break it down in different parts.

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Speaker 1: How did he accomplish what he did? And first and

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Speaker 1: then how did he get caught? Well, first of all,

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Speaker 1: his freckles are real spread apart, but we'll add that

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Speaker 1: in here. But crypto is a highly unregulated state, because

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Speaker 1: it's a touchy subject because it's supposed to be decentralized,

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Speaker 1: so that means that it's supposed to exist outside of

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Speaker 1: our current regulatory structure, because it's supposed to really belong

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Speaker 1: to the people. And because of that, you know, you've

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Speaker 1: had a lot of bad actors that have gotten involved

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Speaker 1: and saw opportunities to capitalize off of a market or

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Speaker 1: off of a space that has very little regulation, very

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Speaker 1: little oversight. There was a time that anyone could start

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Speaker 1: a crypto exchange, and a crypto exchange is very similar

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Speaker 1: to a bank, and it actually kind of crypto exchanges

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Speaker 1: they kind of work against what the principle, the purest

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Speaker 1: principle of crypto is. Earlier on crypto exchanges, crypto was

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Speaker 1: exchanged like peer to peer, you know what I mean.

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Speaker 1: So they had peer to peer markets where you can

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Speaker 1: exchange directly with people. And then you had, you know,

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Speaker 1: this great ideal of let's create these exchanges that strongly

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Speaker 1: look like Wall Street, you know our current you know,

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Speaker 1: financial system. And again, anyone could start in exchange. You

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Speaker 1: could be fifteen years old, you could have a fake name,

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Speaker 1: and you could start in exchange. So literally, however, big

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Speaker 1: your exchange grew to you would be dealing with millions,

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Speaker 1: maybe billions of dollars of transactions a day, you know

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Speaker 1: what I mean, and not have to have a special license.

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Speaker 1: This was early one. Right Now as we start getting

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Speaker 1: in more recent times, it's gotten more difficult. You know,

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Speaker 1: they have implemented that you have to have certain licenses

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Speaker 1: in certain states, in certain countries. And there's still a

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Speaker 1: lot of countries that you can operate, you know, kind

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Speaker 1: of freely. Right, So they have gotten tightened up just

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Speaker 1: a little bit. But imagine if you started your exchange

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Speaker 1: before the regulations were that strong, and you actually amass

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Speaker 1: a certain amount of money, millions and millions and millions

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Speaker 1: of dollars. Now when the regulatory stuff hit, you now

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Speaker 1: have the money to be grandfathered in to the current

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Speaker 1: regulatory structure, right, you know what I mean. So you

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Speaker 1: have a lot of these exchanges that survived because they

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Speaker 1: need millions and millions and millions of dollars. So when

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Speaker 1: the regulations start kicking in, they now can buy licenses

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Speaker 1: and stuff like that, and they can actually clean up

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Speaker 1: their act and all of that because they have the

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Speaker 1: money to do so. Right, So you have a lot

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Speaker 1: of these exchanges now that are around today. That again,

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Speaker 1: they started in the wild wild West. They started during

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Speaker 1: the time just like back in the days when they

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Speaker 1: had when alcohol was illegal, you know, in the Prohibition,

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Speaker 1: and you had all of the underground people in during

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Speaker 1: the prohibition area made a lot of money and then

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Speaker 1: when when it became legal, they were able to start

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Speaker 1: legitimate businesses off of that not legal money. Right, same

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Speaker 1: same situation here. So you have a lot of people

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Speaker 1: now in this industry that are now able to function

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Speaker 1: because they made millions of dollars when it was you know,

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Speaker 1: kind of whatever for every man and every woman. Right,

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Speaker 1: So now you have you still have institutions that the

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Speaker 1: regulation is not clear and they can do a lot

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Speaker 1: of shady stuff. Okay, cool, hold that thought on the

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Speaker 1: shady stuff, because I want to come back and get

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Speaker 1: clear on that. I'm gonna go to break and come back.

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Speaker 1: I'm speaking with Davonia Evans truly and one of the

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Speaker 1: top forces and minds in the crypto game, and also

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Speaker 1: allowing us to understand more about this world that got

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Speaker 1: flipped on his head and thirty year old young man

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Speaker 1: had flipped it out. But it doesn't mean you should

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Speaker 1: not be an investor in this field of crypto. You

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Speaker 1: are now tuned in to the Money Making Conversations Minute

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Speaker 1: of Inspiration with Rashaan McDonald tie I Rashan mcdonalver for

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Speaker 1: money Making Conversation with your daily Minute of Inspiration. This week,

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Speaker 1: I sat down with the host of First Take, stephen

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Speaker 1: A's World, and the new co host of ESPN NBA Countdown,

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Speaker 1: stephen A Smith. Stephen A emphasized the importance of not

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Speaker 1: letting self doubt halt your opportunities towards achieving your dreams.

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Speaker 1: I was actually reluctant and hesitant to write my home

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Speaker 1: book for a very very long time. I literally said,

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Speaker 1: although I had a national television show that's been number

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Speaker 1: one in the morning for nine years in counting, I

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Speaker 1: literally was saying, why would anybody want to read a

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Speaker 1: book from me? And so many people came forward, like,

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Speaker 1: what the hell are you talking about? Was wrong with you?

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Speaker 1: Everybody needs to hear your story. Everybody needs to hear

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Speaker 1: what you endure, what you had to experience, what you

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Speaker 1: had to go through to get into this place that

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Speaker 1: you're here now. If you were to listen to this

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Speaker 1: four interview with stephen A. Smith, is available on Moneymaking

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Speaker 1: Conversations dot com. Tavon you usually when I have a

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Speaker 1: crypto interview, you know, the phones be lightened up, everybody

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Speaker 1: want to call in. I guess, I guess I've scared

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Speaker 1: a few people today. I don't want to scare anybody

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Speaker 1: into any type of financial invents, but what I do

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Speaker 1: want to do is give them information. That's why I'm

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Speaker 1: invited to Vane Evans on the show. It just walk

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Speaker 1: us through this process, you know, walk us through these steps.

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Speaker 1: And so before we left for the break, you was

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Speaker 1: telling us what the new regulations have done and made

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Speaker 1: it much more difficult for people to create these scam

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Speaker 1: formatch you can continue. It's Evans, Yeah, and I understand.

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Speaker 1: I've highly doubt that when he created the exchange, he

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Speaker 1: didn't create quote unquote scam so to speak, right, right,

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Speaker 1: but you're talking about somebody who's young, you know whatever,

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Speaker 1: very little oversight, and then have access to billions of

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Speaker 1: dollars at its finger tips. He didn't do anything that

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Speaker 1: these banks aren't doing right, taking people's money and doing

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Speaker 1: back in the investments. That's what this financial system is

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Speaker 1: built on, right, And I highly doubt that he did

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Speaker 1: any of this without any type of advice for any

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Speaker 1: any of that. I'm pretty sure there was a lot

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Speaker 1: of other people that were involved. But what he was

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Speaker 1: doing essentially was UM. He had created a fund that

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Speaker 1: you know, they created fund and he took that fund

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Speaker 1: and actually funded his own stuff, funded his own project UM.

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Speaker 1: And he actually created a token UM, which you know,

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Speaker 1: you're literally backing now the value of a token that

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Speaker 1: you create with other people's money that they're not aware

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Speaker 1: of that, you know that that's going on, right, because

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Speaker 1: he because he was a major investor in that stock

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Speaker 1: app robin Hood. Yeah, I mean, he spread his investments

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Speaker 1: all over place. He was also a major investor in

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Speaker 1: in UM in many campaigns as well. Right. But so

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Speaker 1: you're saying, but there was other people's money, that was

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Speaker 1: investor's money, I was using money. Yeah, So he was

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Speaker 1: taken and he was using other people's money to invest

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Speaker 1: in another thing. And interesting and interestingly, when you have

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Speaker 1: a ponzi, like a really true ponti, a lot of

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Speaker 1: times they're not even doing that, like they're just taking

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Speaker 1: money and you know what I mean, and and and

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Speaker 1: taking money, you know, but he actually was taking money

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Speaker 1: and investment it into other things that are out there,

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Speaker 1: probably some profitable industries as well. But again, UM, I

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Speaker 1: think where he really really went wrong and what probably

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Speaker 1: sent this whole thing collapsing is what was actually UM

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Speaker 1: creating this token, you know and U which was gonna

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Speaker 1: attract attention and exactly what it did so UM, and

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Speaker 1: this came on the heels of another big UM another

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Speaker 1: big scandal the UM what was it called right before it,

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Speaker 1: UM the Korean scandal. UM. There was another token that

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Speaker 1: that that sent you know, the crypto industry kind of rippling,

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Speaker 1: and UM that was around this Hoken thing as well.

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Speaker 1: So now you have that token scandal going on, and

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Speaker 1: then this token is what I think really shine a

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Speaker 1: light on what was going on, because they were already

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Speaker 1: starting to look closely into some things based off of

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Speaker 1: this other, this other thing that took place beforehand. So

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Speaker 1: so there was a lot going on, a lot going on,

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Speaker 1: and UM that was a lot of money. And because

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Speaker 1: there were so many people involved, I think that that's

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Speaker 1: where really kind of hurt the industry a bit, is

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Speaker 1: because there were so many quote unquote legitimate UM entities

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Speaker 1: that were involved, legitimate entities that quote unquote and invested

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Speaker 1: in him you know what I mean. So they are

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Speaker 1: already I mean they literally were writing him blank checks

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Speaker 1: and a that's in what he was doing. Plus he

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Speaker 1: was so young, he just felt like you know, you

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Speaker 1: know he was at the time when he used to

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Speaker 1: be thirty in March, I mean thirty one in March.

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Speaker 1: I think he's thirty right now. So we talked about

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Speaker 1: twenty six twenty seven year old genius. That's what you

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Speaker 1: put a name of visionary. Those are names that pop

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Speaker 1: up when you hear somebody out there being able to

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Speaker 1: manufacture financial resources over a billion dollars because they said

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Speaker 1: they are financial losses right now are exceeding fifty billion dollars. Yeah,

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Speaker 1: But you know, when you know the crypto industry like

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Speaker 1: I do in the exchanges, I wouldn't necessarily call him

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Speaker 1: the genius, you know what I mean, because the crypto,

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Speaker 1: crypto exchanges, crypto funds and all of that stuff like that.

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Speaker 1: Like I said, doll was the wild wild West, and

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Speaker 1: he had access to money, you know what I mean,

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Speaker 1: Like he had access to investors, he had access to

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Speaker 1: a lot of people, and you know, I think pretty

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Speaker 1: much anyone that sets up these these exchanges and these

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Speaker 1: funds and stuff like that. If you have access to

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Speaker 1: a lot of money and a lot of people, you

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Speaker 1: know that you probably can wind up accumulating a billion

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Speaker 1: dollars as well. Let me make okay, so he's not

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Speaker 1: a mortgage Stanley, he's not a JP Morgan. How how

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Speaker 1: would he make money? How would he make money? Well,

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Speaker 1: earlier on he was you know, it was said that

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Speaker 1: he was doing a lot of trading and that he

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Speaker 1: was really good at trading. Right, Um, So it's interesting

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Speaker 1: because you know, I recently saw um, you know, for

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Speaker 1: a show on insider trading and stuff like that, and

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Speaker 1: the big, big, big guys that made a lot of

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Speaker 1: money on trading. So it's it's again, it's not it's

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Speaker 1: not without reach that he could become really big. He's

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Speaker 1: he's got access to money to trade, you know what

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Speaker 1: I mean? Right? Right, you got people that are really

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Speaker 1: good at trading, but they don't have access to capital,

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Speaker 1: you know what I mean. So you you if you

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Speaker 1: add that you're really good at trading and you're literally

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Speaker 1: sitting on a billion dollars, you know what I mean?

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Speaker 1: Then you know, for some some people, that's like a

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Speaker 1: marriage made in heaven, you know what I mean? They're

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Speaker 1: already they already are good at trading. They just don't

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Speaker 1: some people out there who are good at trading, they

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Speaker 1: don't have thousands of dollars to trade. If you have

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Speaker 1: a quick question on my m what is the rate?

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Speaker 1: Because you told me earlier that crypto is not money. Remember,

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Speaker 1: so if crypto, no, crypto is money. Okay, okay, cool,

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Speaker 1: Crypto's not stopped. It's not stopped, apolitic, the crypto's not stopped.

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Speaker 1: So how do you convert crypto to you know, it's

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Speaker 1: a it's a it's a it's how you convert you

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Speaker 1: the money, then it is money. So nowadays, you know,

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Speaker 1: most of the major credit cards are now back in crypto, okay, visa, MasterCard,

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Speaker 1: et cetera. Like you could have a crypto debit card

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Speaker 1: and you can go then your crypto anywhere nowadays. So

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Speaker 1: there's no rate tied to it. So a crypto there's

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Speaker 1: a value. Yeah, the value is demand. Just like our

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Speaker 1: current money, you know what I mean, fluctuates in its

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Speaker 1: value behind the scenes. It's just that our current money

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Speaker 1: is tied to so much of our economics that you know,

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Speaker 1: you're not going to see the type of volatility that

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Speaker 1: you see in crypto. Crypto's not tied to any of that,

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Speaker 1: you know, So it's strictly tied to the people's desire,

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Speaker 1: their faith, you know, and all of that. So you

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Speaker 1: see these wild swings in it right now, and then

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Speaker 1: you also see these wild swings. Honestly, it is because

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Speaker 1: there's a lot of market makers in the background manipulating it.

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Speaker 1: You know, I'm not going to even sit here and

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Speaker 1: act like that's not happening. How are you doing, I'm

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Speaker 1: doing well, yeah, I'm new to crypto. My question is,

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Speaker 1: you know, say, for instance, I got fifty thousand, hundred

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Speaker 1: thousand dollars US dollars and you know I invested in crypto,

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Speaker 1: and you converted into bitcoin or whatever. How do you

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Speaker 1: go about, you know, basically pulling your money out of

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Speaker 1: crypto and converting that game back into US dollars because

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Speaker 1: I don't know to my knowledge, and I can't go

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Speaker 1: to Macy's or you know, go to lessus and buy

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Speaker 1: a car with bigcoin that after you can use. So

428
00:25:17,720 --> 00:25:20,640
Speaker 1: I can buy a car with bigcoin, Yes you can.

429
00:25:21,480 --> 00:25:26,159
Speaker 1: So you may have missed what I said earlier that

430
00:25:26,520 --> 00:25:29,840
Speaker 1: the major credit card companies are now in bed with

431
00:25:30,000 --> 00:25:34,399
Speaker 1: crypto like Visa, Massa card, et cetera. And nowadays you

432
00:25:34,480 --> 00:25:37,520
Speaker 1: can get a crypto card and you can take that

433
00:25:37,600 --> 00:25:40,280
Speaker 1: crypto card, you can go to the bank, pull out cash,

434
00:25:40,640 --> 00:25:42,560
Speaker 1: you know, at the ATM, or you could spend it

435
00:25:42,720 --> 00:25:45,840
Speaker 1: at anywhere to accept any of these cards. Okay, So

436
00:25:46,040 --> 00:25:50,920
Speaker 1: can I convert it back into US dollars to many

437
00:25:51,000 --> 00:25:54,320
Speaker 1: different ways? Yeah? How do I do that? So the

438
00:25:54,440 --> 00:25:58,040
Speaker 1: primary way is to go on the exchange, of course,

439
00:25:58,800 --> 00:26:02,280
Speaker 1: and tom there are now bigger exchanges, like what we

440
00:26:02,359 --> 00:26:05,840
Speaker 1: call level one exchanges, like maybe your coin based in Gemini,

441
00:26:06,440 --> 00:26:08,720
Speaker 1: and those are exchanges that kind of allow you to

442
00:26:08,800 --> 00:26:13,879
Speaker 1: withdraw straight to usd right, and then you have a

443
00:26:14,160 --> 00:26:17,320
Speaker 1: level two exchanges where you may have to trade your

444
00:26:17,400 --> 00:26:20,920
Speaker 1: crypto in for a more popular crypto. So if it's

445
00:26:20,960 --> 00:26:24,200
Speaker 1: not biitcoin, if it's bigcoin, then again you're good. You

446
00:26:24,280 --> 00:26:27,600
Speaker 1: can you can technically send it to pretty much any

447
00:26:27,680 --> 00:26:30,720
Speaker 1: wallet nowadays, and you can turn it over into cash.

448
00:26:30,880 --> 00:26:33,119
Speaker 1: You can even do that on cash app in the

449
00:26:33,320 --> 00:26:37,360
Speaker 1: United States. So in the United States they have crypto

450
00:26:37,680 --> 00:26:40,159
Speaker 1: you know you have you can now get crypto in

451
00:26:40,200 --> 00:26:42,520
Speaker 1: your cash app account and you can convert it over

452
00:26:42,640 --> 00:26:47,720
Speaker 1: really quick back over. So basically like if I, you know,

453
00:26:47,960 --> 00:26:52,399
Speaker 1: have you know whatever the dollars figure, and I say, well,

454
00:26:52,440 --> 00:26:55,000
Speaker 1: I just want to cash out, you know, take my

455
00:26:55,160 --> 00:27:00,080
Speaker 1: bigcoin gain or whatever type of cryptocurrency I'm using, and

456
00:27:00,480 --> 00:27:03,200
Speaker 1: and is there like a clearing time? I mean, is

457
00:27:03,200 --> 00:27:06,639
Speaker 1: it like three days? It's a twenty four hours. It

458
00:27:06,800 --> 00:27:10,320
Speaker 1: depends on what platform you are on. So if you're

459
00:27:10,359 --> 00:27:13,080
Speaker 1: on a platform that actually has a built in card

460
00:27:13,240 --> 00:27:15,240
Speaker 1: or a debit card like a crypto dot com or

461
00:27:15,320 --> 00:27:18,119
Speaker 1: something like that, then it's instant pretty much. Is that

462
00:27:18,320 --> 00:27:21,800
Speaker 1: just takes a few minutes to settle. Um, But if

463
00:27:21,840 --> 00:27:25,280
Speaker 1: you're gonna trade, then you're gonna trade it to something

464
00:27:25,800 --> 00:27:28,399
Speaker 1: that might be more liquid, you know, so like you

465
00:27:28,560 --> 00:27:31,000
Speaker 1: might trade like say you have a crypto that's not

466
00:27:31,200 --> 00:27:33,320
Speaker 1: as well known, but you could take and turn that

467
00:27:33,440 --> 00:27:37,720
Speaker 1: over to a stable coin like USDT or whatever. These

468
00:27:37,800 --> 00:27:41,119
Speaker 1: are coins that are directly map dollar for dollar to

469
00:27:41,240 --> 00:27:43,960
Speaker 1: the coin. So you can trade your crypto over to

470
00:27:44,280 --> 00:27:46,639
Speaker 1: a stable coin and once you do that, you're not

471
00:27:46,800 --> 00:27:50,239
Speaker 1: going to get that fluctuation anymore. And then you can

472
00:27:50,320 --> 00:27:53,000
Speaker 1: take in withdrawre that too, Like I said, a debit

473
00:27:53,080 --> 00:27:55,719
Speaker 1: card or a bank account. I'm one of the bigger exchanges,

474
00:27:56,840 --> 00:27:59,919
Speaker 1: and and and and this is basically I mean it's

475
00:28:00,400 --> 00:28:04,119
Speaker 1: this is a total speculation because it's not regulated in

476
00:28:04,320 --> 00:28:06,840
Speaker 1: any kind of way by any kind of government agency

477
00:28:07,200 --> 00:28:11,280
Speaker 1: to my knowledge, is that a fair assumption. I mean,

478
00:28:11,359 --> 00:28:15,880
Speaker 1: it's basically I might as well go to Vegas pretty much. Well,

479
00:28:15,960 --> 00:28:21,040
Speaker 1: there is some level of what we call I guess

480
00:28:21,080 --> 00:28:25,600
Speaker 1: you could say regulatory guideline, right, And how they treat

481
00:28:25,680 --> 00:28:29,080
Speaker 1: it now is when you get in trouble, like you know,

482
00:28:29,280 --> 00:28:31,560
Speaker 1: when somebody calls you on it, then you may have

483
00:28:31,720 --> 00:28:33,840
Speaker 1: to go before the court and deal with it in

484
00:28:34,240 --> 00:28:36,920
Speaker 1: that case. Right, So there are no there are no

485
00:28:37,400 --> 00:28:40,479
Speaker 1: widespread laws on the books, you know what I mean,

486
00:28:40,720 --> 00:28:45,280
Speaker 1: unless you're an institution. They have laws for institutions now,

487
00:28:45,560 --> 00:28:49,479
Speaker 1: you know. So now into crypto, into the money system

488
00:28:49,520 --> 00:28:52,280
Speaker 1: and the money transfer a business it now you know,

489
00:28:52,480 --> 00:28:56,280
Speaker 1: virtual currencies are listed under money transfers, right, So if

490
00:28:56,320 --> 00:28:59,600
Speaker 1: you start, if you start a business where you're going

491
00:28:59,680 --> 00:29:03,400
Speaker 1: to be dealing with crypto in the public, now, you

492
00:29:03,760 --> 00:29:05,960
Speaker 1: may have to get a money transfer a license. So

493
00:29:06,080 --> 00:29:10,040
Speaker 1: they have those types of rent regulations now, but they

494
00:29:10,120 --> 00:29:13,640
Speaker 1: don't have I guess you could say people forward people

495
00:29:13,760 --> 00:29:18,480
Speaker 1: facing regulations so to speak. And it's and it's still

496
00:29:18,560 --> 00:29:20,800
Speaker 1: kind of broad, you know, because that's why you have

497
00:29:21,120 --> 00:29:25,240
Speaker 1: SRP right now currently in court and they're trying to

498
00:29:26,080 --> 00:29:28,480
Speaker 1: make some decisions as to whether or not it's the

499
00:29:28,560 --> 00:29:32,200
Speaker 1: security or not, because they haven't really created the framework

500
00:29:32,320 --> 00:29:34,600
Speaker 1: to say that this is a security or not. I

501
00:29:34,720 --> 00:29:36,840
Speaker 1: right there, Jefferson not I got to go to break here.

502
00:29:37,480 --> 00:29:40,400
Speaker 1: First of all, your questions were fantastic. Appreciate you calling

503
00:29:40,480 --> 00:29:44,080
Speaker 1: in on Money Making Conversations Masterclass. Please continue to listen

504
00:29:44,760 --> 00:29:47,200
Speaker 1: as we go to uh as we used interview to

505
00:29:47,280 --> 00:29:51,520
Speaker 1: bring to Vane your back to wrap up, because first

506
00:29:51,520 --> 00:29:53,240
Speaker 1: of all, thank you for coming on the show, but

507
00:29:53,360 --> 00:29:55,240
Speaker 1: I didn't talk about what you're into. When we come

508
00:29:55,280 --> 00:29:57,200
Speaker 1: back from the break, I'm allowing you some time and

509
00:29:57,240 --> 00:29:59,000
Speaker 1: tell everybody what you're into how to get in touch

510
00:29:59,040 --> 00:30:01,000
Speaker 1: with you. We've been right back with more money Making

511
00:30:01,040 --> 00:30:04,600
Speaker 1: Conversations Masterclass, and we got a tax expert. They own

512
00:30:04,680 --> 00:30:08,960
Speaker 1: a few of Foods. Financial Laura Foods is on the call.

513
00:30:09,240 --> 00:30:12,640
Speaker 1: If you get your tax personal corporate, don't go nowhere.

514
00:30:13,040 --> 00:30:15,920
Speaker 1: She is a tax expert here to answer your calls.

515
00:30:16,000 --> 00:30:19,640
Speaker 1: Today is Crypto and Taxes on Money Making Conversation Masterclass.

516
00:30:19,720 --> 00:30:22,840
Speaker 1: Be right back closing out this section with Tavania Evans.

517
00:30:25,360 --> 00:30:28,800
Speaker 1: You are now tuned into the Money Making Conversations Minute

518
00:30:28,800 --> 00:30:32,400
Speaker 1: of Inspiration with Rashaan McDonald him Rushan McDonald's for Money

519
00:30:32,440 --> 00:30:35,760
Speaker 1: Making Conversation masterclass with your daily Minute of Inspiration. Doing

520
00:30:35,760 --> 00:30:38,680
Speaker 1: a conversation with producer and founder of American Black Film

521
00:30:38,760 --> 00:30:41,520
Speaker 1: Festival with Jeff Friday, he shared how important it is

522
00:30:41,600 --> 00:30:43,920
Speaker 1: for those who make it in Hollywood to open doors

523
00:30:43,960 --> 00:30:48,000
Speaker 1: for others. So metaphorically, Hollywood to the club, and when

524
00:30:48,080 --> 00:30:49,880
Speaker 1: we get in the club, we got to go back

525
00:30:49,920 --> 00:30:51,440
Speaker 1: to the door say yo, I'm not going in that

526
00:30:51,560 --> 00:30:53,960
Speaker 1: my boy can't come. And that's what people like like

527
00:30:54,080 --> 00:30:56,880
Speaker 1: Abra Duvana have done. And that's what you know, Ryan done.

528
00:30:57,080 --> 00:30:59,360
Speaker 1: When you look at a movie, it might be three

529
00:31:00,280 --> 00:31:03,080
Speaker 1: who get a check. It's only Ken, only Kennor in

530
00:31:03,160 --> 00:31:05,080
Speaker 1: front of the camera. What about the other two hundred

531
00:31:05,080 --> 00:31:08,120
Speaker 1: and ninety people who you don't know, who have families,

532
00:31:08,160 --> 00:31:10,400
Speaker 1: who have families too. If you're going to be at

533
00:31:10,440 --> 00:31:12,720
Speaker 1: the forefront of this fight, you gotta bring You gotta

534
00:31:12,760 --> 00:31:14,440
Speaker 1: go back to the front door, and you gotta let

535
00:31:14,480 --> 00:31:16,960
Speaker 1: your boys, you know, go open the back door. A

536
00:31:17,040 --> 00:31:19,200
Speaker 1: lot of me. Whatever door you go to you can

537
00:31:19,280 --> 00:31:21,960
Speaker 1: listen to this full interview with Jeff Friday is available

538
00:31:22,000 --> 00:31:25,840
Speaker 1: on Moneymaking Conversations dot com. Why is Rashan mcgonn speaking?

539
00:31:26,040 --> 00:31:30,320
Speaker 1: Tavanni Evans, the crypto Queen is on the call, just

540
00:31:30,520 --> 00:31:34,640
Speaker 1: answering question after question about what is going on in

541
00:31:34,720 --> 00:31:37,760
Speaker 1: the crypto industry. Jefferson got on here and he had

542
00:31:37,840 --> 00:31:40,280
Speaker 1: his he had his roller decks of questions ready for

543
00:31:40,360 --> 00:31:43,240
Speaker 1: your Tyvnia. I think that young man is ready to

544
00:31:43,280 --> 00:31:45,360
Speaker 1: spend some money on crypto. The way he even asked,

545
00:31:45,400 --> 00:31:47,920
Speaker 1: he just needed you to like validate certain areas so

546
00:31:48,000 --> 00:31:50,320
Speaker 1: he can go out and like like my man burn

547
00:31:52,280 --> 00:31:54,880
Speaker 1: Brunal mar say, I'm a dangerous man with money in

548
00:31:54,960 --> 00:31:58,800
Speaker 1: my pocket. So what do you what you gotta worker?

549
00:31:58,880 --> 00:32:00,320
Speaker 1: Tell us how we stare in touch? Would you to

550
00:32:00,400 --> 00:32:03,640
Speaker 1: bind you in your in your business contact? So what

551
00:32:03,760 --> 00:32:05,680
Speaker 1: I'm working on now? Of course, I'm still working on

552
00:32:05,800 --> 00:32:10,360
Speaker 1: guop point us as usual every day. UM. I just

553
00:32:10,720 --> 00:32:14,840
Speaker 1: also released a book called Crypto for My People that

554
00:32:15,000 --> 00:32:19,840
Speaker 1: I specifically wrote from my people, a very very very

555
00:32:20,320 --> 00:32:23,720
Speaker 1: simple book for you to be able to understand crypto

556
00:32:23,800 --> 00:32:26,040
Speaker 1: to power of crypto and what we're trying to do

557
00:32:26,200 --> 00:32:29,560
Speaker 1: with crypto in terms of glop cooin and the black Dollar,

558
00:32:30,600 --> 00:32:34,520
Speaker 1: and that book is available on Amazon, and I'm also

559
00:32:34,760 --> 00:32:39,040
Speaker 1: launching a bank. It is a full pledge bank as

560
00:32:39,080 --> 00:32:43,000
Speaker 1: well as a crypto crypto bank. We did run into

561
00:32:43,040 --> 00:32:46,080
Speaker 1: a couple of obstacles because of our friend sam Um.

562
00:32:46,520 --> 00:32:48,040
Speaker 1: A lot of people in the back ends that are

563
00:32:48,160 --> 00:32:51,239
Speaker 1: no longer are trying to distance themselves from crypto when

564
00:32:51,280 --> 00:32:55,560
Speaker 1: it comes to traditional institutions. But it was my thought

565
00:32:55,760 --> 00:32:58,160
Speaker 1: that when you want to bring crypto to the people,

566
00:32:58,240 --> 00:32:59,880
Speaker 1: you have to bring it to where the people are

567
00:33:00,080 --> 00:33:02,600
Speaker 1: at in a safe environment, which is why I'm launching

568
00:33:02,640 --> 00:33:08,240
Speaker 1: the bank Cali and I'm just focused on creating an

569
00:33:08,320 --> 00:33:11,760
Speaker 1: ecosystem to make it easier for us to interact with crypto,

570
00:33:12,240 --> 00:33:14,120
Speaker 1: so that we can really really get to see the

571
00:33:14,280 --> 00:33:18,160
Speaker 1: true power of crypto and what it really does, because

572
00:33:18,240 --> 00:33:21,160
Speaker 1: people have no clue in terms of what it could

573
00:33:21,200 --> 00:33:24,640
Speaker 1: do for our community for real, for real. You can

574
00:33:24,720 --> 00:33:28,040
Speaker 1: reach me on social media everywhere. I am integraly embedded

575
00:33:28,080 --> 00:33:33,080
Speaker 1: into the community. I'm at our glop point on all

576
00:33:33,160 --> 00:33:37,840
Speaker 1: social media platforms. Gloppoint dot org is the website I

577
00:33:38,080 --> 00:33:43,040
Speaker 1: am to Banna Evans on social media, Crypto Diva some

578
00:33:43,160 --> 00:33:46,280
Speaker 1: places you gotta be careful because unfortunately there's a lot

579
00:33:46,360 --> 00:33:50,040
Speaker 1: of clones. But you can get to me through glop points.

580
00:33:50,080 --> 00:33:51,800
Speaker 1: So if you go to glop, if you hit us

581
00:33:51,880 --> 00:33:55,680
Speaker 1: up on glop points on Twitter or Instagram and stuff

582
00:33:55,720 --> 00:33:57,600
Speaker 1: like that, you will get to me because I worked

583
00:33:57,640 --> 00:34:01,760
Speaker 1: this every day. He again, thank you for taking the time.

584
00:34:01,880 --> 00:34:04,120
Speaker 1: Thank you for allowing me to have an honest conversation

585
00:34:04,480 --> 00:34:07,880
Speaker 1: about crypto, and also being and being patient and answering

586
00:34:07,920 --> 00:34:13,879
Speaker 1: to those questions for Jefferson, We'll talk soon, Okay, thank you. Next. Yes,

587
00:34:13,960 --> 00:34:17,560
Speaker 1: she's been holding on. She is my guests is lawd Foods.

588
00:34:17,920 --> 00:34:20,840
Speaker 1: She's the owner and CEO of Foods Financial Services, a

589
00:34:21,000 --> 00:34:25,400
Speaker 1: tax preparation company. They provide tax preparations for individuals and

590
00:34:25,560 --> 00:34:28,920
Speaker 1: small businesses. They can accommodate, can't accommodate all states, and

591
00:34:29,000 --> 00:34:33,440
Speaker 1: conservace clients remotely. She's been a consultant tax insulting on

592
00:34:33,640 --> 00:34:38,040
Speaker 1: my platform Money Making Conversations Masterclass since twenty seventeen. She

593
00:34:38,160 --> 00:34:40,279
Speaker 1: has a voice that O two world has helped a

594
00:34:40,360 --> 00:34:43,880
Speaker 1: lot of people through financial struggles and how to overcome

595
00:34:43,960 --> 00:34:46,719
Speaker 1: them using that knowledge because personally, she's had to go

596
00:34:46,840 --> 00:34:51,000
Speaker 1: through those things like bankruptcy herself. Sometimes you need a

597
00:34:51,200 --> 00:34:53,400
Speaker 1: you want to talk to her expert, talk to somebody

598
00:34:53,400 --> 00:34:55,160
Speaker 1: who's been there and done that. And she has been

599
00:34:55,239 --> 00:34:57,680
Speaker 1: there and done that and came out back into the light.

600
00:34:58,160 --> 00:35:01,600
Speaker 1: She's operating several profitable business over the past fifteen years.

601
00:35:01,880 --> 00:35:04,359
Speaker 1: She's on the show to discuss taxes. It's that time

602
00:35:04,400 --> 00:35:06,440
Speaker 1: of the year. A lot of people still waiting. We

603
00:35:06,520 --> 00:35:08,200
Speaker 1: told you in the fall when she was on the show,

604
00:35:08,280 --> 00:35:11,560
Speaker 1: Star Preppering, Star Preppering, Please welcome the money Making Conversations

605
00:35:11,640 --> 00:35:16,640
Speaker 1: Master Class, Laura Foods, Laura, how you doing, Hey, Michel McDonald,

606
00:35:16,680 --> 00:35:19,480
Speaker 1: how are you good? Good? I'm doing very good. I

607
00:35:19,520 --> 00:35:23,160
Speaker 1: apologize for extending that over, but it got prettier, pretty

608
00:35:23,200 --> 00:35:25,880
Speaker 1: aggressive on that side with crypto information. I didn't want

609
00:35:25,880 --> 00:35:27,560
Speaker 1: to cut them off and get all these questions in.

610
00:35:27,760 --> 00:35:31,960
Speaker 1: And I know from a tax perspective, you know it's

611
00:35:32,440 --> 00:35:36,759
Speaker 1: that crypto. Is it popping up in your world as

612
00:35:36,800 --> 00:35:39,759
Speaker 1: far as tax filing or which some of your customers

613
00:35:40,000 --> 00:35:43,000
Speaker 1: or is that something that like because when Tavannio was

614
00:35:43,040 --> 00:35:44,880
Speaker 1: talking about you was talking about the black community and

615
00:35:45,000 --> 00:35:48,920
Speaker 1: people starting to understand the value of crypto and also

616
00:35:49,160 --> 00:35:51,799
Speaker 1: in that market share that a very few people are

617
00:35:51,840 --> 00:35:54,960
Speaker 1: participating tells us about crypto in your world or is

618
00:35:55,000 --> 00:35:59,240
Speaker 1: it in your tax filing world. It is a little

619
00:35:59,280 --> 00:36:01,440
Speaker 1: bit in our world. And like I said, I certainly

620
00:36:01,520 --> 00:36:05,040
Speaker 1: think she provided some very valuable information. I do have

621
00:36:05,320 --> 00:36:08,640
Speaker 1: some clients that are in the crypto world, and I

622
00:36:08,880 --> 00:36:12,320
Speaker 1: think that there are probably a lot more than we

623
00:36:12,480 --> 00:36:15,759
Speaker 1: realize because they don't realize or I don't find out

624
00:36:15,840 --> 00:36:21,440
Speaker 1: about it initially until like question or asks, you know,

625
00:36:21,640 --> 00:36:24,319
Speaker 1: some facts finding questions, because a lot of times people

626
00:36:24,360 --> 00:36:28,200
Speaker 1: don't realize that crypto because they refer to it as

627
00:36:28,400 --> 00:36:32,239
Speaker 1: virtual currency. People are thinking that it is up there

628
00:36:32,440 --> 00:36:35,440
Speaker 1: like in the cloud. It's virtual that they don't have

629
00:36:35,640 --> 00:36:39,920
Speaker 1: to pay taxes on those games when they are buying

630
00:36:40,000 --> 00:36:44,040
Speaker 1: and selling that crypto, right because they're calling it virtual currency,

631
00:36:44,480 --> 00:36:48,120
Speaker 1: which it is. Though the irs looks at it almost

632
00:36:48,200 --> 00:36:51,239
Speaker 1: like any other property. You know, if you hold it

633
00:36:51,640 --> 00:36:54,799
Speaker 1: for you know, from your time of purchase to when

634
00:36:54,920 --> 00:36:57,359
Speaker 1: you sell it is less than a year, they could

635
00:36:57,520 --> 00:37:01,600
Speaker 1: consider that a short term game, right, just like any

636
00:37:01,640 --> 00:37:04,680
Speaker 1: other piece of property or stock that we own, and

637
00:37:04,840 --> 00:37:07,719
Speaker 1: we need to report that. And then if we hold

638
00:37:07,760 --> 00:37:10,400
Speaker 1: it for longer than a year, it would be considered

639
00:37:10,719 --> 00:37:14,839
Speaker 1: long term capital gains. Which your listeners can check that out.

640
00:37:15,160 --> 00:37:18,440
Speaker 1: You know, there's long term gain and have a short

641
00:37:18,600 --> 00:37:21,920
Speaker 1: term capital gain, so they can check out those percentages.

642
00:37:22,000 --> 00:37:25,640
Speaker 1: But certainly need to be letting your tax prepair and

643
00:37:25,760 --> 00:37:29,960
Speaker 1: know about virtual currency that you have sold. Just like

644
00:37:30,160 --> 00:37:33,200
Speaker 1: any other asset during the year. We need to know

645
00:37:33,440 --> 00:37:37,120
Speaker 1: that you have sold it. And sometimes because I know

646
00:37:37,280 --> 00:37:40,680
Speaker 1: the market has been fluctuating, you know, sometimes you certainly

647
00:37:40,719 --> 00:37:42,759
Speaker 1: want to report it. Like you know, if you have

648
00:37:42,920 --> 00:37:45,840
Speaker 1: a loss in an asset, you certainly want to report

649
00:37:45,920 --> 00:37:49,279
Speaker 1: it because that's going to bring down your taxable income. Right,

650
00:37:50,400 --> 00:37:52,879
Speaker 1: So yes, we need to you know, let our tax

651
00:37:52,960 --> 00:37:57,799
Speaker 1: prepairents know if we have bought and sold cryptocurrency during

652
00:37:57,840 --> 00:38:00,680
Speaker 1: the year. So you know, I laugh when you said

653
00:38:00,719 --> 00:38:03,879
Speaker 1: that the word virtual and they act like virtual it's

654
00:38:03,960 --> 00:38:08,359
Speaker 1: real because it's virtual. Yeah, And a lot of people

655
00:38:08,400 --> 00:38:12,799
Speaker 1: try to use a lot of simple but silly excuses

656
00:38:12,880 --> 00:38:15,960
Speaker 1: to avoid the law. But the law is the law.

657
00:38:16,560 --> 00:38:20,440
Speaker 1: This is income, this is money, this is an asset. Yes,

658
00:38:20,840 --> 00:38:24,320
Speaker 1: and they treated just like any other property that we

659
00:38:24,520 --> 00:38:28,760
Speaker 1: would purchase and self wow, cool, well listen looks gonna crypto,

660
00:38:28,880 --> 00:38:30,640
Speaker 1: thank you. I know, I know he didn't come on

661
00:38:30,680 --> 00:38:32,960
Speaker 1: the show to talk about that. But Tavania was so

662
00:38:33,160 --> 00:38:35,719
Speaker 1: deep in this, I thought I got my tax because

663
00:38:35,760 --> 00:38:38,320
Speaker 1: the name of the show this week is Crypto and Taxes,

664
00:38:38,680 --> 00:38:41,680
Speaker 1: giving people information about the taxes. So it's that time

665
00:38:41,719 --> 00:38:44,040
Speaker 1: of the year. Um. I was looking at the news

666
00:38:44,160 --> 00:38:48,240
Speaker 1: the other day and they said, boldly said that people

667
00:38:48,280 --> 00:38:52,160
Speaker 1: who are filing their personal tax returns will not get

668
00:38:52,239 --> 00:38:56,920
Speaker 1: as much money back this year. I know, I know,

669
00:38:57,520 --> 00:39:00,920
Speaker 1: and that is so so disheartening because yes, we have

670
00:39:01,480 --> 00:39:04,440
Speaker 1: you know, some people who were rushing to file because

671
00:39:04,520 --> 00:39:07,000
Speaker 1: for the past couple of years they have been so

672
00:39:07,320 --> 00:39:12,200
Speaker 1: used to getting these nice refunds. Unfortunately, you know, all

673
00:39:12,320 --> 00:39:17,640
Speaker 1: of the you know, pandemic relief things, the different thresholds

674
00:39:17,719 --> 00:39:22,960
Speaker 1: they had said, you know, the stimulus payments, additional tax

675
00:39:23,120 --> 00:39:25,719
Speaker 1: credits that they were given for children, all of those

676
00:39:25,800 --> 00:39:29,359
Speaker 1: things are gone. Unfortunate, even though a lot of us

677
00:39:29,440 --> 00:39:32,800
Speaker 1: are still suffering from you know, things that took place

678
00:39:33,000 --> 00:39:38,120
Speaker 1: during the pandemic, unfortunately all of those are gone this year.

679
00:39:38,520 --> 00:39:43,440
Speaker 1: So we are back to filing taxes pre pandemic. And

680
00:39:43,600 --> 00:39:45,759
Speaker 1: so that's why, you know, so a lot of times

681
00:39:45,840 --> 00:39:48,800
Speaker 1: the clients are getting mad at the tax repairer, like,

682
00:39:48,880 --> 00:39:51,759
Speaker 1: wait a second, you did something wrong. This is not

683
00:39:51,960 --> 00:39:54,480
Speaker 1: what I have been getting the past couple of years. Though.

684
00:39:54,520 --> 00:39:57,680
Speaker 1: It's not the tax repairer. It is just because you know,

685
00:39:57,840 --> 00:40:00,920
Speaker 1: they are trying to say, the pandemic is excuse me,

686
00:40:01,040 --> 00:40:04,360
Speaker 1: the pandemic is over. And so you know, all of

687
00:40:04,560 --> 00:40:07,160
Speaker 1: those you know, things that they had given us during

688
00:40:07,200 --> 00:40:10,759
Speaker 1: the pandemic her now going away. Unfortunately. I'm speaking to

689
00:40:11,040 --> 00:40:14,840
Speaker 1: Laura Foods. She's the owner and CEO of Foods Financial Services,

690
00:40:15,200 --> 00:40:19,360
Speaker 1: a tax preparation company. They provide tax preparation for individuals

691
00:40:19,400 --> 00:40:21,839
Speaker 1: and small businesses. When we talk about you know, there

692
00:40:21,840 --> 00:40:24,680
Speaker 1: are two two levels here. You have the corporate filing

693
00:40:25,280 --> 00:40:27,640
Speaker 1: and then you have a personal filing you can extend

694
00:40:27,760 --> 00:40:30,680
Speaker 1: and all that good stuff. Now let's talk about the

695
00:40:31,080 --> 00:40:33,759
Speaker 1: corporate because I've been getting these little emails and that,

696
00:40:34,200 --> 00:40:37,400
Speaker 1: and I bugged the heck out of my my my

697
00:40:37,920 --> 00:40:40,680
Speaker 1: CPA talking about you know, hey, we can get you

698
00:40:40,760 --> 00:40:44,960
Speaker 1: money back, like twenty six thousand dollars per employee. Call

699
00:40:45,120 --> 00:40:47,080
Speaker 1: us and we can get you money. But you for

700
00:40:47,200 --> 00:40:50,640
Speaker 1: me what I'm talking about, yes, and that is the

701
00:40:51,120 --> 00:40:56,000
Speaker 1: the employer retention credit. Now for most of my clients,

702
00:40:56,040 --> 00:41:02,400
Speaker 1: so certainly for yourself. So corporations those companies who do

703
00:41:02,640 --> 00:41:06,800
Speaker 1: have W two employees, if you were affected by the pandemic,

704
00:41:06,880 --> 00:41:10,080
Speaker 1: then yes, you want to apply for that credit. Now,

705
00:41:10,680 --> 00:41:14,239
Speaker 1: for the clientele that I service, or a lot of

706
00:41:14,320 --> 00:41:18,759
Speaker 1: who I service, they're going to be small businesses. A

707
00:41:18,920 --> 00:41:23,160
Speaker 1: lot of them are solo entrepreneurs. We would say, you know,

708
00:41:23,320 --> 00:41:26,359
Speaker 1: they're just one person working in their business, or they're

709
00:41:26,400 --> 00:41:29,480
Speaker 1: a single member LLC. So they do not technically have

710
00:41:29,719 --> 00:41:33,440
Speaker 1: employees who are getting W twos, so that would not

711
00:41:33,640 --> 00:41:37,680
Speaker 1: necessarily apply to them. So you have to have employees

712
00:41:37,920 --> 00:41:41,320
Speaker 1: on your payroll that you know that you were doing

713
00:41:41,400 --> 00:41:45,000
Speaker 1: it all legitimately correct right where they were getting paid

714
00:41:45,080 --> 00:41:47,719
Speaker 1: through a W two, then yes you should apply for

715
00:41:47,960 --> 00:41:52,960
Speaker 1: that employee retention credit. Though, as I said, most small businesses,

716
00:41:53,400 --> 00:41:57,719
Speaker 1: you know, all of these amazing businesses that started during

717
00:41:57,800 --> 00:42:00,759
Speaker 1: the pandemic, you know most of the times are they

718
00:42:00,880 --> 00:42:06,560
Speaker 1: call him GID workers, contract workers, single member LLCs, and

719
00:42:06,680 --> 00:42:10,400
Speaker 1: that credit would not apply to them. Right, we have

720
00:42:10,480 --> 00:42:12,520
Speaker 1: a we'll go to break here. We have a caller

721
00:42:13,000 --> 00:42:15,440
Speaker 1: that are we're bringing back on soon as we come back.

722
00:42:15,520 --> 00:42:17,160
Speaker 1: Just letting you know to caller on the line, we're

723
00:42:17,160 --> 00:42:18,880
Speaker 1: gonna bring them right back. You listen to Money Making

724
00:42:18,920 --> 00:42:24,800
Speaker 1: Conversation Masterclass, Tax preparation expert Laura Foods, Crypto and tax Information.

725
00:42:24,920 --> 00:42:26,960
Speaker 1: That's the theme of the show today on Money Making

726
00:42:26,960 --> 00:42:33,400
Speaker 1: Conversations Masterclass. Be right back. We'll be right back with

727
00:42:33,600 --> 00:42:40,000
Speaker 1: more Money Making Conversations Masterclass with Rashan McDonald. You are

728
00:42:40,080 --> 00:42:43,880
Speaker 1: now tuned into the Money Making Conversations Minute of Inspiration

729
00:42:44,080 --> 00:42:47,040
Speaker 1: with Rashaan McDonald. Hi, I am Rashaan McDonald for Money

730
00:42:47,080 --> 00:42:50,480
Speaker 1: Making Conversation with your daily Minute of Inspiration. This week

731
00:42:50,520 --> 00:42:54,120
Speaker 1: Got Said There with Toshley Hamilton, author and celebrity intuitive

732
00:42:54,200 --> 00:42:56,840
Speaker 1: life coach. We discussed taking a leap of faith and

733
00:42:57,000 --> 00:43:00,279
Speaker 1: not letting the fear of your own talents paralyze you. Yeah.

734
00:43:00,320 --> 00:43:02,360
Speaker 1: I think it's a combination of many things. You know,

735
00:43:02,520 --> 00:43:05,239
Speaker 1: often terms people are afraid of their own talents. They're

736
00:43:05,239 --> 00:43:07,719
Speaker 1: afraid of taking the leap of faith. I was one

737
00:43:07,760 --> 00:43:09,800
Speaker 1: of them, right. It's the maner of putting in the

738
00:43:09,880 --> 00:43:12,600
Speaker 1: work to make those things happen. It may be easier

739
00:43:12,640 --> 00:43:15,320
Speaker 1: to pick up the basketball as opposed to starting a business,

740
00:43:15,680 --> 00:43:17,480
Speaker 1: so most people want to take the easy route. They

741
00:43:17,560 --> 00:43:19,879
Speaker 1: want to say, I'd rather just played safe and play

742
00:43:19,920 --> 00:43:21,920
Speaker 1: the basketball, even though this is my talent, and I

743
00:43:22,040 --> 00:43:25,200
Speaker 1: think about this every day. I would rather play safe

744
00:43:25,239 --> 00:43:28,120
Speaker 1: because success is not an easy route. You have to

745
00:43:28,280 --> 00:43:30,640
Speaker 1: work so your success and people don't want to put

746
00:43:30,680 --> 00:43:32,879
Speaker 1: in the work for Sean. If you want to listen

747
00:43:32,920 --> 00:43:36,040
Speaker 1: to this full interview with Toashley Hamilton, it's available on

748
00:43:36,080 --> 00:43:40,319
Speaker 1: Moneymaking Conversations dot com. My guest is Laura Foods. She's

749
00:43:40,360 --> 00:43:44,080
Speaker 1: the owner CEO of Foods Financial Services, the tax preparation company.

750
00:43:44,840 --> 00:43:47,840
Speaker 1: On the line it has a question for her, Kwame,

751
00:43:47,920 --> 00:43:50,759
Speaker 1: how are you doing? Kwame? Hey, Hey, how are you

752
00:43:51,080 --> 00:43:55,040
Speaker 1: have a question for Laura Foods? Yeah? I do. UM. So,

753
00:43:55,520 --> 00:44:00,680
Speaker 1: we're trying to make a non cash donation. Okay, we

754
00:44:00,840 --> 00:44:05,319
Speaker 1: have a donor advice fund that some properties we're able

755
00:44:05,360 --> 00:44:08,000
Speaker 1: to gift to and we're able to get one hundred

756
00:44:08,000 --> 00:44:10,600
Speaker 1: percent of fair market value. So we got we were

757
00:44:10,680 --> 00:44:14,000
Speaker 1: good with that part. There are some there are some

758
00:44:14,120 --> 00:44:17,400
Speaker 1: real property that we're trying to gift to an individual,

759
00:44:17,560 --> 00:44:22,640
Speaker 1: not five one three, but an individual. And so I

760
00:44:22,800 --> 00:44:25,200
Speaker 1: want to know from your opinion. From what I understand,

761
00:44:25,239 --> 00:44:27,080
Speaker 1: they're telling us we need to fill out Form eighty

762
00:44:27,120 --> 00:44:30,320
Speaker 1: two eighty three and we need to have an acknowledgement

763
00:44:31,239 --> 00:44:36,120
Speaker 1: UM waivers signed by the receiver, and so I'm trying

764
00:44:36,200 --> 00:44:40,440
Speaker 1: to understand if that information that I've been told is

765
00:44:40,520 --> 00:44:43,520
Speaker 1: correct on that in terms of giving a non cash

766
00:44:43,600 --> 00:44:46,320
Speaker 1: gift to an individual and being able to get the

767
00:44:46,360 --> 00:44:50,160
Speaker 1: credit right, because I know as far as I know

768
00:44:50,400 --> 00:44:53,080
Speaker 1: Kame and I and like I said, I'll certainly always

769
00:44:53,120 --> 00:44:56,200
Speaker 1: tell you when I am not as familiar with that

770
00:44:56,400 --> 00:44:58,719
Speaker 1: or I don't think I have an exact answer for

771
00:44:58,840 --> 00:45:01,440
Speaker 1: you on that because normally, like I said, I know,

772
00:45:01,640 --> 00:45:04,480
Speaker 1: non cash gifts are given to a five oh one

773
00:45:04,640 --> 00:45:07,960
Speaker 1: C three, but we can't get this to individual up

774
00:45:08,040 --> 00:45:11,200
Speaker 1: to a certain limit every year so that it's like

775
00:45:11,360 --> 00:45:14,880
Speaker 1: you can avoid the gift tax. But I am not

776
00:45:15,160 --> 00:45:18,560
Speaker 1: familiar with which form that is. So, like I said,

777
00:45:18,640 --> 00:45:22,719
Speaker 1: you can certainly reach out to me offline on Instagram

778
00:45:22,800 --> 00:45:25,920
Speaker 1: and I'll certainly do some research for you, but I

779
00:45:26,040 --> 00:45:29,040
Speaker 1: totally wouldn't want to give you the incorrect answer. I'm

780
00:45:29,120 --> 00:45:33,160
Speaker 1: sorry the top of my head, I got it, I

781
00:45:33,320 --> 00:45:34,960
Speaker 1: got it, I got I came with a with a

782
00:45:35,040 --> 00:45:37,120
Speaker 1: tough one. But yeah, that's that's no problem with what's

783
00:45:37,160 --> 00:45:39,960
Speaker 1: your handle on the GRAM so we get it right? Yes,

784
00:45:40,120 --> 00:45:44,440
Speaker 1: it's I'm I am Laura l A U R A

785
00:45:45,280 --> 00:45:52,040
Speaker 1: and the last part is spoofs like frank oos like Sam, okay, great, yes,

786
00:45:52,239 --> 00:45:56,600
Speaker 1: and I'm looking for you the correct form, okay, thank you. Yeah,

787
00:45:56,640 --> 00:45:58,759
Speaker 1: well please reach out to it. She will do a

788
00:45:58,880 --> 00:46:00,719
Speaker 1: homework for you. And that's what we trying to do here.

789
00:46:00,920 --> 00:46:02,840
Speaker 1: We're not just trying to give our information just to

790
00:46:02,960 --> 00:46:06,160
Speaker 1: give our information. Of course, yes, I don't want to

791
00:46:06,200 --> 00:46:09,200
Speaker 1: give you their incorrect form. And like I said, so,

792
00:46:10,200 --> 00:46:13,040
Speaker 1: I'm always tell you exactly what I know, exactly I

793
00:46:13,080 --> 00:46:15,160
Speaker 1: don't know, or I can certainly put you in the

794
00:46:15,280 --> 00:46:19,600
Speaker 1: right direction. So let me just do some research for you. Cool.

795
00:46:19,800 --> 00:46:22,080
Speaker 1: Thank you Quament for calling money to make conversation mastically.

796
00:46:22,400 --> 00:46:24,160
Speaker 1: I'm glad you did that. I'm glad you to handle

797
00:46:24,320 --> 00:46:27,000
Speaker 1: that because you know one thing I don't want people,

798
00:46:27,280 --> 00:46:29,680
Speaker 1: you know, because I'm sharing information that people are starting

799
00:46:29,680 --> 00:46:32,440
Speaker 1: to listen to the show and and and developing a

800
00:46:32,520 --> 00:46:36,040
Speaker 1: certain layalty to the honest conversation I have. And you've

801
00:46:36,040 --> 00:46:39,200
Speaker 1: been on my show several times and it's about Okay,

802
00:46:40,120 --> 00:46:43,000
Speaker 1: what she says has value and what you have value,

803
00:46:43,320 --> 00:46:45,320
Speaker 1: And you have to be honest with people because we

804
00:46:45,360 --> 00:46:48,160
Speaker 1: don't know everything. I don't know everything you know. And yeah,

805
00:46:48,200 --> 00:46:53,360
Speaker 1: I cannot remember all those form members and undertowns. I

806
00:46:53,520 --> 00:46:56,719
Speaker 1: only got but so much brain matter to remember all

807
00:46:56,920 --> 00:46:59,759
Speaker 1: those forms that all of those numbers, and all of

808
00:46:59,800 --> 00:47:03,719
Speaker 1: the threshold. So yes, I will always tell you exactly

809
00:47:03,800 --> 00:47:05,320
Speaker 1: what I know, but I'm gonna always tell you what

810
00:47:05,480 --> 00:47:09,080
Speaker 1: exactly I do not know an exact number for you know,

811
00:47:09,200 --> 00:47:12,320
Speaker 1: the tax code I think is like seventy two thousand,

812
00:47:12,680 --> 00:47:15,719
Speaker 1: you know, fifty two thousand codes in the tax coad.

813
00:47:15,960 --> 00:47:18,960
Speaker 1: So certainly someone cannot remember all that, but I certainly

814
00:47:19,920 --> 00:47:22,880
Speaker 1: know where to go to get him the correct information

815
00:47:23,040 --> 00:47:25,560
Speaker 1: and get him the correct for a number, because I certainly,

816
00:47:25,800 --> 00:47:27,719
Speaker 1: like you said, we certainly don't want to give out

817
00:47:27,840 --> 00:47:31,640
Speaker 1: incorrect information. So i'd certainly better say I don't know

818
00:47:31,760 --> 00:47:33,680
Speaker 1: that number off the top of my head, but I

819
00:47:33,760 --> 00:47:36,560
Speaker 1: can get it for him. Oh, thank you for doing that, really,

820
00:47:36,640 --> 00:47:38,759
Speaker 1: thank you for doing that. Now, we, like I said,

821
00:47:38,760 --> 00:47:41,920
Speaker 1: we're in the corporate tax filing and the corporate corporate faction,

822
00:47:43,760 --> 00:47:48,200
Speaker 1: the corporate tax filing deadline. I believe it's March fifteen, correct, Yes,

823
00:47:48,560 --> 00:47:51,080
Speaker 1: so a lot of people, yes, so that would be

824
00:47:52,160 --> 00:47:56,600
Speaker 1: your s corporations, in those corporations, because what has to

825
00:47:56,719 --> 00:47:59,360
Speaker 1: happen A lot of times if you have if you

826
00:48:00,080 --> 00:48:03,719
Speaker 1: could still be a single member LLLC or a partnership

827
00:48:03,800 --> 00:48:07,279
Speaker 1: and maybe you have elected to be an S corporation,

828
00:48:08,160 --> 00:48:10,040
Speaker 1: which a lot of people because I know there's all

829
00:48:10,080 --> 00:48:14,120
Speaker 1: those lovely Instagram TikTok videos about electing to be an

830
00:48:14,280 --> 00:48:17,759
Speaker 1: S corporation, which we do love that it does help

831
00:48:17,840 --> 00:48:21,719
Speaker 1: you avoid self employment tax, that good fifteen point three

832
00:48:21,840 --> 00:48:27,000
Speaker 1: percent self employment tax. However, one caveat is you must have,

833
00:48:27,480 --> 00:48:30,880
Speaker 1: you know, be paying yourself a reasonable salary. And so

834
00:48:31,040 --> 00:48:34,879
Speaker 1: what happens is that is a reporting time period where

835
00:48:34,920 --> 00:48:38,480
Speaker 1: an S corporation has to report it's you know, it's

836
00:48:38,560 --> 00:48:42,920
Speaker 1: profitability by March fifteenth, and then the owners in that

837
00:48:43,320 --> 00:48:47,200
Speaker 1: S corps are issue to K one, which then flows

838
00:48:47,360 --> 00:48:51,680
Speaker 1: down to someone's personal taxes, which then gives them time

839
00:48:51,760 --> 00:48:54,879
Speaker 1: to then file their personal taxes by this year. It's

840
00:48:54,920 --> 00:49:00,080
Speaker 1: April eighteenth, will be the deadline for this year on

841
00:49:00,120 --> 00:49:06,200
Speaker 1: a Saturday, well, right, so it's that and then on Monday,

842
00:49:06,320 --> 00:49:09,120
Speaker 1: I think it's Monday. The seventeenth is then the holiday

843
00:49:09,200 --> 00:49:11,680
Speaker 1: for dcments a patient day, which push it to the

844
00:49:11,800 --> 00:49:14,120
Speaker 1: next day. So we have a few extra days this

845
00:49:14,280 --> 00:49:17,880
Speaker 1: year for us to file personal taxes or if you

846
00:49:17,960 --> 00:49:20,799
Speaker 1: know you can knock file, you can file an extension

847
00:49:21,320 --> 00:49:25,759
Speaker 1: until October fifteenth. However, let's remember this because I have

848
00:49:25,880 --> 00:49:29,239
Speaker 1: clients get themselves into trouble every other thing that does

849
00:49:29,360 --> 00:49:32,680
Speaker 1: not give you an extension to pay. So if you

850
00:49:32,960 --> 00:49:35,040
Speaker 1: know that you are going to owe, like a lot

851
00:49:35,080 --> 00:49:37,480
Speaker 1: of our business owners, you know you have not paid

852
00:49:37,560 --> 00:49:41,560
Speaker 1: taxes all year long, your business was profitable. This year

853
00:49:42,000 --> 00:49:44,960
Speaker 1: you're going you know, so you would probably owe taxes.

854
00:49:45,280 --> 00:49:47,920
Speaker 1: So don't just file an extension because you don't want

855
00:49:47,920 --> 00:49:49,960
Speaker 1: to pay what you owe. What you need to do

856
00:49:50,120 --> 00:49:53,440
Speaker 1: is file on time and then get yourself set up

857
00:49:53,480 --> 00:49:56,200
Speaker 1: on a payment plan because the interest is going to

858
00:49:56,400 --> 00:49:59,880
Speaker 1: start a crewing from April eighteenth when it was originally

859
00:50:00,200 --> 00:50:03,080
Speaker 1: do right. That happened to me, That happened to me,

860
00:50:03,640 --> 00:50:06,440
Speaker 1: and your board was mad. Okay, I just thought I

861
00:50:06,560 --> 00:50:08,800
Speaker 1: thought I was about the extension. I thought about the

862
00:50:08,880 --> 00:50:11,439
Speaker 1: extension that debt, I thought that bill that I owned,

863
00:50:11,560 --> 00:50:18,240
Speaker 1: no no paperwork, paperwork. Yes, it's just an extension to file.

864
00:50:18,320 --> 00:50:21,839
Speaker 1: So and there are plenty of legitimate reasons maybe why

865
00:50:21,960 --> 00:50:24,400
Speaker 1: you want to file an extension. Maybe you you know,

866
00:50:24,560 --> 00:50:26,919
Speaker 1: you have a lot more knowing a family members sick

867
00:50:27,040 --> 00:50:29,680
Speaker 1: you're dealing with life. I just don't have time to file.

868
00:50:30,040 --> 00:50:32,279
Speaker 1: But then just now when you so as soon as

869
00:50:32,320 --> 00:50:34,960
Speaker 1: you get that bill, you're already going to see that

870
00:50:35,160 --> 00:50:38,560
Speaker 1: interest to crude from April to October one there. So

871
00:50:38,680 --> 00:50:40,640
Speaker 1: that's the only reason why I say, you know, try

872
00:50:40,760 --> 00:50:42,879
Speaker 1: to get you know, it's still you have plenty of time.

873
00:50:42,920 --> 00:50:46,319
Speaker 1: We're still at January. You still have plenty of time

874
00:50:46,360 --> 00:50:49,680
Speaker 1: to get your stuff together to file and then at least,

875
00:50:49,719 --> 00:50:51,880
Speaker 1: like you said, we can get it filed by the deadline,

876
00:50:52,080 --> 00:50:54,440
Speaker 1: and then you can ask them to set you up

877
00:50:54,520 --> 00:50:59,720
Speaker 1: on a payment plan, which now certainly always recommend to everyone.

878
00:51:00,120 --> 00:51:02,920
Speaker 1: If you have not already done so, you should go

879
00:51:03,120 --> 00:51:07,920
Speaker 1: to IRF dot gom and set up your online IRS

880
00:51:08,080 --> 00:51:11,640
Speaker 1: tax account because that is where everything that i RS

881
00:51:11,719 --> 00:51:15,440
Speaker 1: sees you can see yourself about yourself. So then if

882
00:51:15,480 --> 00:51:18,640
Speaker 1: you owe any pass do years, if you own this year,

883
00:51:18,880 --> 00:51:22,160
Speaker 1: you can even click right online and apply for a

884
00:51:22,280 --> 00:51:25,800
Speaker 1: payment plan right there as well as make payments. So

885
00:51:25,960 --> 00:51:28,920
Speaker 1: it just makes it so much easier now that they

886
00:51:29,000 --> 00:51:32,000
Speaker 1: allow us to have access to exactly what they see

887
00:51:32,040 --> 00:51:35,160
Speaker 1: in their system, So everyone should take a minute to

888
00:51:35,280 --> 00:51:37,640
Speaker 1: set their account. You can set up your personal as

889
00:51:37,680 --> 00:51:41,640
Speaker 1: well as your business that way, just personal Okay, cool, okay, cool,

890
00:51:42,160 --> 00:51:44,759
Speaker 1: that's that's that's something I think is really significant that

891
00:51:44,840 --> 00:51:47,480
Speaker 1: people should do. And I would recommend anybody. They just

892
00:51:47,680 --> 00:51:49,040
Speaker 1: know about your life and are a lot of people

893
00:51:49,040 --> 00:51:52,440
Speaker 1: I'm giving away versonal information knows more about they know

894
00:51:52,520 --> 00:51:54,839
Speaker 1: more about you anyway. Okay, But yeah, I was gonna say,

895
00:51:54,840 --> 00:51:57,520
Speaker 1: because somebody there, you just want to see what they have,

896
00:51:58,239 --> 00:52:01,520
Speaker 1: especially nowadays with all of this identity staff, you know,

897
00:52:01,680 --> 00:52:04,040
Speaker 1: you wouldn't be able to see your past years that

898
00:52:05,719 --> 00:52:08,640
Speaker 1: taxes were filed. You'll be able to see your wage

899
00:52:08,680 --> 00:52:12,000
Speaker 1: and income transcripts, which I think is always good because

900
00:52:12,040 --> 00:52:14,880
Speaker 1: you wanted just like we were talking about some of

901
00:52:14,960 --> 00:52:18,719
Speaker 1: the crypto or some of the like, sometimes maybe you

902
00:52:18,880 --> 00:52:21,920
Speaker 1: forgot about an account that you had, so you forgot

903
00:52:22,080 --> 00:52:26,560
Speaker 1: the about an income interest statement or a dividend statement,

904
00:52:26,920 --> 00:52:29,760
Speaker 1: or you know, a W two job that you worked

905
00:52:29,800 --> 00:52:32,000
Speaker 1: at the beginning of the year. If you go on

906
00:52:32,200 --> 00:52:35,440
Speaker 1: there and pull your wage and income transcripts for twenty

907
00:52:35,560 --> 00:52:38,040
Speaker 1: twenty two, you won't be able to make sure that

908
00:52:38,200 --> 00:52:42,520
Speaker 1: you are filing everything that the IRS has, you know,

909
00:52:42,640 --> 00:52:44,920
Speaker 1: on file for you. So it's such a good thing

910
00:52:45,040 --> 00:52:47,080
Speaker 1: to check up to see what's out there in your

911
00:52:47,160 --> 00:52:50,640
Speaker 1: social Security number. Great as as we leave the show

912
00:52:50,680 --> 00:52:53,160
Speaker 1: and wrap it up, always thank you for calling it

913
00:52:53,239 --> 00:52:56,600
Speaker 1: on money main conversation, just giving advice to the my audience.

914
00:52:56,760 --> 00:52:58,120
Speaker 1: Tell us how we can stay in touch with you

915
00:52:58,280 --> 00:53:03,360
Speaker 1: in any upcoming business projects. Well, right now we are

916
00:53:03,680 --> 00:53:07,759
Speaker 1: full fledged in the middle of tax seasons. I don't

917
00:53:07,760 --> 00:53:10,440
Speaker 1: lot of other things, Gordon Nor, because we are filing

918
00:53:10,560 --> 00:53:14,320
Speaker 1: taxes and the best thing to do is, especially on

919
00:53:14,440 --> 00:53:17,400
Speaker 1: my Instagram page, like if you are needing any assistance,

920
00:53:17,719 --> 00:53:20,920
Speaker 1: I always try to put helpful links just about all

921
00:53:20,960 --> 00:53:23,520
Speaker 1: the things we talked about today are writing my bio.

922
00:53:24,000 --> 00:53:28,520
Speaker 1: It's I'm Laura la u r A last named Foost

923
00:53:29,080 --> 00:53:32,880
Speaker 1: like Frank Oos like Sam so just typing Laura Foost.

924
00:53:32,920 --> 00:53:36,040
Speaker 1: I'm sure you'll find my Instagram page there. You'll see

925
00:53:36,080 --> 00:53:38,920
Speaker 1: the flyer from today's show. There. Click the link in

926
00:53:39,000 --> 00:53:41,440
Speaker 1: my bio tells you how you can get started with us.

927
00:53:41,760 --> 00:53:45,160
Speaker 1: I have a free tax prep checklist. I also have

928
00:53:45,480 --> 00:53:49,960
Speaker 1: some budgeting and savings worksheets there, because once you get

929
00:53:50,040 --> 00:53:53,480
Speaker 1: that refund, I want you to save some of the refund,

930
00:53:53,600 --> 00:53:56,560
Speaker 1: invest some of the refunds, so we're not just spending it.

931
00:53:57,360 --> 00:53:59,279
Speaker 1: So certainly just check the link in my bio and

932
00:53:59,360 --> 00:54:02,480
Speaker 1: there's a lot of helpful free resources there. Thank you

933
00:54:02,560 --> 00:54:04,319
Speaker 1: Laura for calling in. And I want to think about

934
00:54:04,600 --> 00:54:07,480
Speaker 1: listeners for every day every week to porting and listen

935
00:54:07,560 --> 00:54:10,279
Speaker 1: to the show. Laura, We're gonna talk soon because you know, yes,

936
00:54:10,440 --> 00:54:13,120
Speaker 1: I always make mistakes when I'm talking about taxes. I

937
00:54:13,200 --> 00:54:16,000
Speaker 1: gotta calling expert, and you are the person I need

938
00:54:16,040 --> 00:54:19,600
Speaker 1: to be calling it. Thank you for calling. I talk soon. Okay, okay,

939
00:54:19,680 --> 00:54:21,759
Speaker 1: thank you for having me. Take care. Let me tell

940
00:54:21,800 --> 00:54:26,040
Speaker 1: you about the Money Making Conversations Masterclass hosted by Rashan McDonald.

941
00:54:26,200 --> 00:54:29,000
Speaker 1: People always talk about their purpose or gifts. If you

942
00:54:29,120 --> 00:54:31,520
Speaker 1: have a gift, lead with your gifts and don't let

943
00:54:31,560 --> 00:54:34,680
Speaker 1: your friends, family, or co workers stop you from planning

944
00:54:34,800 --> 00:54:37,400
Speaker 1: or living your dreams. The interviews and information on his

945
00:54:37,480 --> 00:54:40,719
Speaker 1: show are for everybody. Don't let change scare you. He's

946
00:54:40,760 --> 00:54:43,080
Speaker 1: here to educate you because it's time to put your

947
00:54:43,160 --> 00:54:47,440
Speaker 1: dreams into action. The show, Money Making Conversations Master Class

948
00:54:47,600 --> 00:54:52,680
Speaker 1: interviews CEOs, small business owners, influencers, and celebrities. They share

949
00:54:52,760 --> 00:54:56,440
Speaker 1: financial and career success tips with Rushan McDonald which you

950
00:54:56,520 --> 00:55:00,520
Speaker 1: can only hear in the Money Making Conversations Master Class show.

951
00:55:01,000 --> 00:55:03,200
Speaker 1: Let me tell you about the host of Money Making

952
00:55:03,280 --> 00:55:08,120
Speaker 1: Conversations Rushan McDonald. He's a social media influencer. Eighty percent

953
00:55:08,200 --> 00:55:11,160
Speaker 1: of his one million plus social media followers or female.

954
00:55:11,400 --> 00:55:14,400
Speaker 1: Rushan's a two time Emmy Award winner, three time in

955
00:55:14,560 --> 00:55:18,680
Speaker 1: Double ACP, EMMAT Award winner, sitcom writer, stand Up comic,

956
00:55:18,880 --> 00:55:22,799
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957
00:55:23,160 --> 00:55:27,280
Speaker 1: More importantly, Rushawn McDonald will interview his business and celebrity

958
00:55:27,360 --> 00:55:30,759
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959
00:55:30,840 --> 00:55:33,439
Speaker 1: career that you can only hear in the Money Making

960
00:55:33,520 --> 00:55:39,000
Speaker 1: Conversations Masterclass Show. As host of Money Making Conversations Masterclass,

961
00:55:39,160 --> 00:55:42,680
Speaker 1: Rushan McDonald is uniquely positioned to provide a step by step,

962
00:55:42,800 --> 00:55:46,120
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963
00:55:46,239 --> 00:55:49,600
Speaker 1: other people's success stories and start writing your own. The show,

964
00:55:49,800 --> 00:55:55,520
Speaker 1: Money Making Conversations Masterclass interview CEOs, small business owners, influencers,

965
00:55:55,600 --> 00:55:58,960
Speaker 1: and celebrities. They share financial and career success tip