HOW TO PURCHASE A CAR IN YOUR BUSINESS NAME

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  • เผยแพร่เมื่อ 26 พ.ย. 2020
  • In this clip Ms Business breaks down how to save money on business taxes by purchasing a vehicle in a company name. #taxtips #cars #investing #businesstaxes
    Full Episode: • BUSINESS TAX BREAKS AN...
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ความคิดเห็น • 2.3K

  • @abijahjames621
    @abijahjames621 2 ปีที่แล้ว +563

    Thank you so much for your inspiration! I have traveled a similar path, 2 college degrees, multiple jobs including credit problems. I am now 65 years old and have found my purpose in life. Currently in the process of starting my own business. May God continue to bless you and May He continue to bless *850 credit restoration* for me for every successful deal we conducted

  • @Daniyellasings
    @Daniyellasings 2 ปีที่แล้ว +394

    Wealth is not just about finance, but health and wellness is critical especially in our black community! No need to have stuff and money if you don't have your good health? Rick Ross finally understands this truth now! What does it profit a man/woman to gain the whole world if you don't have optimum health to enjoy it all! Let change the mindset about the diet & wealth in the black community so we can all go up together! Above all things... I wish that you be in good health and prosper even as your soul prospers! God bless you brothers! and remember to use *850 credit restoration* for your bad credit and negative credit marks and inquiries removal

    • @nikita.kamble2260
      @nikita.kamble2260 2 ปีที่แล้ว

      Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *850credit restoration* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

    • @nikita.kamble2260
      @nikita.kamble2260 2 ปีที่แล้ว

      Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *850credit restoration* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

    • @nikita.kamble2260
      @nikita.kamble2260 2 ปีที่แล้ว

      Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *850credit restoration* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

    • @nikita.kamble2260
      @nikita.kamble2260 2 ปีที่แล้ว

      Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *850credit restoration* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

    • @nikita.kamble2260
      @nikita.kamble2260 2 ปีที่แล้ว

      Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *850credit restoration* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

  • @brandonhilton9081
    @brandonhilton9081 2 ปีที่แล้ว +420

    I have 2 chapter 13’s that are dismissed. The reason I have 2 is bcz I did not use an attorney. I was trying to stop an eviction, but when I went to try to add another month’s rent to the bankruptcy, but the guy filed another one. About a month later, I ended up losing my job. They are scheduled to fall off in January and March 2021. Since I’m looking to purchase a home soon but still there. I am currently enrolled in *850CREDIT RESTORATION* and I must say, I am loving it thus far. I’m doubling it up with your podcast videos and learning A LOT! Thank you. I’m ready to join the millionaire club!!!

    • @nikita.kamble2260
      @nikita.kamble2260 2 ปีที่แล้ว

      Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *850credit restoration* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

    • @nikita.kamble2260
      @nikita.kamble2260 2 ปีที่แล้ว

      Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *850credit restoration* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

    • @nikita.kamble2260
      @nikita.kamble2260 2 ปีที่แล้ว

      Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *850credit restoration* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

    • @nikita.kamble2260
      @nikita.kamble2260 2 ปีที่แล้ว

      Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *850credit restoration* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

    • @nikita.kamble2260
      @nikita.kamble2260 2 ปีที่แล้ว

      Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *850credit restoration* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.

  • @mohdafroze8552
    @mohdafroze8552 2 ปีที่แล้ว +513

    VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *850 CREDIT RESTORATION* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well

    • @neomatrix4136
      @neomatrix4136 2 ปีที่แล้ว

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    • @neomatrix4136
      @neomatrix4136 2 ปีที่แล้ว

      Love the energy! Glad I found this recommendation! Everything you say is 900 million % so true and correct!

    • @neomatrix4136
      @neomatrix4136 2 ปีที่แล้ว

      Love the energy! Glad I found this recommendation! Everything you say is 900 million % so true and correct!

    • @neomatrix4136
      @neomatrix4136 2 ปีที่แล้ว

      Love the energy! Glad I found this recommendation! Everything you say is 900 million % so true and correct!

    • @neomatrix4136
      @neomatrix4136 2 ปีที่แล้ว

      Love the energy! Glad I found this recommendation! Everything you say is 900 million % so true and correct!

  • @jasonwilson3727
    @jasonwilson3727 2 ปีที่แล้ว +497

    I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *850 CREDIT RESTORATION* , Love the knowledge keep it up

    • @angelcarter4723
      @angelcarter4723 2 ปีที่แล้ว +1

      I dunno… I was one of those people that didn’t care about a credit score, didn’t get any education about how important your credit score is, and I racked up debt like an idiot. I worked really hard and educated myself and I’ve brought my credit score from 480 to 690 and I’m still going up with *850CREDIT RESTORATION* . I feel like the government blaming credit reporting companies instead of the lack of financial education in their own public education system is foolish.

    • @abijahjames621
      @abijahjames621 2 ปีที่แล้ว

      Thank you so much for your inspiration! I have traveled a similar path, 2 college degrees, multiple jobs including credit problems. I am now 65 years old and have found my purpose in life. Currently in the process of starting my own business. May God continue to bless you and May He continue to bless *850 credit restoration* for me for every successful deal we conducted

  • @Natasha-tc8oq
    @Natasha-tc8oq 3 ปีที่แล้ว +144

    I knew about the gas card but the first thing is to start off the business right
    Setup your business, EIN, Business checking account , Duns number , business phone number & address , Business website

    • @noneyabiz7257
      @noneyabiz7257 3 ปีที่แล้ว +2

      I don't have a checking account yet or DUNS number. How do you get a DUNS number?

    • @online247365
      @online247365 3 ปีที่แล้ว +5

      @@noneyabiz7257 DUNS is issued by Dunn & Bradstreet and will help you build business credit.

    • @talentedmrflowers
      @talentedmrflowers 3 ปีที่แล้ว +7

      @@noneyabiz7257 just call them & give business information & they'll get you 1 set up free of charge

    • @Lipstrodamus
      @Lipstrodamus 3 ปีที่แล้ว +3

      💯💯💯

    • @StreamGawd
      @StreamGawd 3 ปีที่แล้ว +2

      Factz

  • @LOLATHEMANAGER
    @LOLATHEMANAGER 2 ปีที่แล้ว +12

    I have the Shell Fleet (Business) Gas Card and since I use my personal car for business, I use that card for gas. You can actually buy anything in the gas station with that card. It also allows you to use it for Maintenance at Jiffy Lube (certain locations). I actually just went to get a diagnostic a few weeks ago from there. That’s how I was able to start building my business credit.

    • @carmensellsthecity
      @carmensellsthecity 2 ปีที่แล้ว

      I just got mine and was wondering if I could buy anything in the store. Thanks

  • @talenthunter818
    @talenthunter818 3 ปีที่แล้ว +33

    It is a beautiful thing to actually hear young black people discuss real business nuts and bolts like banking, bookkeeping, and taxes and deductions. Keep going.

  • @RegCPA5963
    @RegCPA5963 3 ปีที่แล้ว +18

    Just one thing you must keep in mind. If you purchase the vehicles in your business’s name, a simple accident can become a law suit against your business, whereas if you own it personally, just an exchange of insurance

  • @JC-Finance
    @JC-Finance 3 ปีที่แล้ว +65

    If you want to be financially free you need to have your own business and be your own boss. That said, you’ll also have to work a lot harder than most others and make alotta sacrifices.

  • @TrEo2322
    @TrEo2322 3 ปีที่แล้ว +76

    exactly: business cards pays for everything. never use your business checking account to make any purchases. ONLY DEPOSIT- your business checking is for deposit and pay your business credit card debt only.

    • @nilevalleyrich_
      @nilevalleyrich_ 3 ปีที่แล้ว +1

      let me know the in and out then in one simple understanding.
      @natasha apao already broke it down

    • @amiragraceministry401
      @amiragraceministry401 3 ปีที่แล้ว +4

      Thanks so much for confirming this. I just started doing this. I use my Capital one business card to pay for everything and then the business checking to make the payment. It keeps everything in order.

    • @kbankskouture7672
      @kbankskouture7672 3 ปีที่แล้ว +1

      How do I get a business credit card, what # I use??? Duns or EIN

    • @adrianne8894
      @adrianne8894 3 ปีที่แล้ว +1

      thanks

    • @TrEo2322
      @TrEo2322 3 ปีที่แล้ว +1

      @@amiragraceministry401 also it pays to use your card you will get points and cash back

  • @sourTRON
    @sourTRON 3 ปีที่แล้ว +449

    You guys are lifting communities up. Black and Brown

    • @sourTRON
      @sourTRON 3 ปีที่แล้ว +4

      @@johnwayne2103 because I cant speak for communities I'm not informed about

    • @kenbals
      @kenbals 3 ปีที่แล้ว +6

      And white

    • @sourTRON
      @sourTRON 3 ปีที่แล้ว

      @@kenbals let's goooooo

    • @Godfit9
      @Godfit9 3 ปีที่แล้ว +2

      And I'm here for it all, ya heard 💪🏾

    • @kennethgibson1092
      @kennethgibson1092 3 ปีที่แล้ว

      We all have separate paths, but common waypoints ....good and bad .... always try to stand in the shaft of light

  • @BenTheRealtorAZ
    @BenTheRealtorAZ 3 ปีที่แล้ว +208

    I am a Real Estate Agent, and purchased a vehicle under my LLC! This is great info!

    • @deniselockhart4294
      @deniselockhart4294 3 ปีที่แล้ว +6

      Ben, I'm also a Broker. how long did you convert to an llc until you purchased a vehicle?

    • @reicartelonline8563
      @reicartelonline8563 3 ปีที่แล้ว +1

      How many years have you had your LLC? I'm looking to do the same and had mine 5 years.

    • @BenTheRealtorAZ
      @BenTheRealtorAZ 3 ปีที่แล้ว

      @@deadnsyde1514 Yes, I am!

    • @nomadcapitalist592
      @nomadcapitalist592 3 ปีที่แล้ว +2

      @@BenTheRealtorAZ WRITE MR. THOMPSON ON WHAT SAPP TO MAKE GREAT PROFIT

    • @nomadcapitalist592
      @nomadcapitalist592 3 ปีที่แล้ว +2

      *+ 1 9 1 4 2 0 6 8 2 9 4*

  • @Mutable_PageOfCups
    @Mutable_PageOfCups 3 ปีที่แล้ว +28

    Gas cards are usually called fleet cards, just in case anyone may be confused

  • @Kush333
    @Kush333 3 ปีที่แล้ว +94

    I've been keeping my own records for my taxes for years and don't need to pay anyone to do that for me. I've been writing off business expenses for years and it's been going well. Also they didn't mention that some people are one person LLC's so things will be different for them. Learn to do things yourselves! Keep rising.

    • @kormynsims9506
      @kormynsims9506 3 ปีที่แล้ว +6

      Is there a difference / benefit in a 1 person LLC?

    • @jaygee8969
      @jaygee8969 3 ปีที่แล้ว +6

      Kormyn Sims Good question. I’d like to know as well

    • @emel6933
      @emel6933 3 ปีที่แล้ว +2

      Kormyn Sims I have the same question also!

    • @Kush333
      @Kush333 3 ปีที่แล้ว

      @@emel6933 I posted the answer.

    • @keelawalker7336
      @keelawalker7336 3 ปีที่แล้ว

      @@Kush333 how are things different?

  • @erichughes8723
    @erichughes8723 3 ปีที่แล้ว +177

    Great video! I applied for a shell gas card and was able to get a $3,000 credit limit for my real estate business.

    • @mzstacystacks3168
      @mzstacystacks3168 3 ปีที่แล้ว +1

      Oh wow I only got $500 with chevon

    • @_stlouisLady_
      @_stlouisLady_ 3 ปีที่แล้ว +5

      Were you just starting out with the business or had you already been building your business credit?

    • @Everybodyisimportant
      @Everybodyisimportant 3 ปีที่แล้ว

      Was that with or without personal guarantee?

    • @jarviswatkins1279
      @jarviswatkins1279 3 ปีที่แล้ว

      Shells great for new business gas fleet card

  • @mistyday
    @mistyday 3 ปีที่แล้ว +31

    Don't know how I came across this video, but i am so happy I did.

    • @chrysanthiusspann2353
      @chrysanthiusspann2353 3 ปีที่แล้ว +2

      Same! I was looking for LED light reviews for my food truck and this popped up. Look at God! 😅

  • @louishollandjr
    @louishollandjr 3 ปีที่แล้ว +19

    Smart Business Woman NBC should be calling her For an Interview.

  • @MrInternationalSound
    @MrInternationalSound 3 ปีที่แล้ว +1

    Just saved this video. I have been mixing up my personal finances with my business finances

  • @shavonnebrown2432
    @shavonnebrown2432 3 ปีที่แล้ว +4

    I'm so happy and grateful that I found this page!!

  • @killabee03
    @killabee03 3 ปีที่แล้ว +194

    You can find out the exact weight of your vehicle simply by looking in the drivers door area, itll be a white tag and look next to GVW

    • @ChangedUpNowWhat
      @ChangedUpNowWhat 3 ปีที่แล้ว +19

      Oh wow cause for a minute I’m thinking they were talking foreign money 🤦🏽‍♀️🤦🏽‍♀️🤦🏽‍♀️Lord Jesus help your daughter to learn swiftly! Lol!

    • @mzstacystacks3168
      @mzstacystacks3168 3 ปีที่แล้ว

      @@ChangedUpNowWhat lol u funny

    • @toyaamos8717
      @toyaamos8717 3 ปีที่แล้ว +4

      @@ChangedUpNowWhat 😂 😂 you not alone sis. Help us both

    • @Bigedub101
      @Bigedub101 3 ปีที่แล้ว +3

      U beat me to it

    • @LynxStarAuto
      @LynxStarAuto 3 ปีที่แล้ว +15

      No brother. That is inaccurate, and will screw you over. I'm an automotive professional hear me out. GVWR (gross vehicle weight rating) is what the vehicle weighs with a full tank of gas, fully loaded with passengers, and the trunk full of luggage.
      You always use the *curb weight* which is what the vehicle weighs empty. No passengers, no luggage, empty fuel tank.
      PS the curb weight is easily searched on google. All you need to do is add in the weight of a full fuel tank, which is simple math. 1 gallon of fuel weighs 8 lbs. Find out the capacity of your vehicle's fuel tank, multiply it by 8, and add that to the curb weight.

  • @TomorrowsKingdom
    @TomorrowsKingdom 3 ปีที่แล้ว +60

    Great information also you will need to look up setting up a DUNS account. That's an account that allows you to build business credit. So just like she mentioned get gas card, office max card, etc.. but make sure to check if they report duns account to the credit bureaus. Great information i love what yall boys doing and keep pushing great information.

    • @chowderrsenpaii
      @chowderrsenpaii 3 ปีที่แล้ว +1

      Do you have to pay for it or something?

    • @TomorrowsKingdom
      @TomorrowsKingdom 3 ปีที่แล้ว +2

      @@chowderrsenpaii its a number that is attached to your LLC EIN number you will need to request your number and when you apply for a card like at office max, lowes, or a place where you buy supplies for your business. Just make sure to ask if they accept duns account number and if they send in reports to credit bureaus. That's one way you can build business credit for your company

    • @66rallen
      @66rallen 3 ปีที่แล้ว +1

      @@TomorrowsKingdom When you apply at one of office supply stores with ein will it be attached to your social security number for approval?

    • @TomorrowsKingdom
      @TomorrowsKingdom 3 ปีที่แล้ว

      @@66rallen yes it will be just like when you create your LLC you will get a EIN that's attached to your LLC and they go off your personal credit for whenever you use your business credit card.

  • @darkskinwhite
    @darkskinwhite 3 ปีที่แล้ว +7

    This is very good information that most of us don't have or don't know to look for, so I just wanna say that I very much appreciate you guys putting this out here, you're having a positive net impact on the world and more specifically those of us who don't grow up around this kind of information & these thought processes.

  • @iitzBraandon
    @iitzBraandon 3 ปีที่แล้ว +1068

    its really sad how many things we never learned from school smh

    • @frankadam6553
      @frankadam6553 3 ปีที่แล้ว +14

      You never learn about crypto currencies that can help you cashout up to $100k per month as a young investor and entrepreneur. I ask myself why universities don’t enlightening their young students about all that.

    • @d4v1do
      @d4v1do 3 ปีที่แล้ว +12

      @@frankadam6553 Unless you’re studying business or Economics Its not their prerogative

    • @TomorrowsKingdom
      @TomorrowsKingdom 3 ปีที่แล้ว +15

      Man its the sad truth. But luckily thanks to technology and platforms and channels like this we can all start getting better. We may of had a late start but its never to late to start applying changes in our financial situations.

    • @wormywoods1
      @wormywoods1 3 ปีที่แล้ว +46

      School doesn't teach u about business it's teaches u how to be a great employee.

    • @wormywoods1
      @wormywoods1 3 ปีที่แล้ว +1

      @@wekofute2405 really I have no knowledge on this were do I start

  • @srinidhimoily3672
    @srinidhimoily3672 2 ปีที่แล้ว +454

    It was my understanding that the new business model does not prefer loyal workers that intend on staying put in their jobs. The new model is the "revolving door" of hiring new employees, using them while they are eager, then getting rid of them before it comes time for their raise. I don't see why any worker would tolerate that business model and there is backlash to that business model. No one cares about their jobs or the consequences of doing subpar work. Why should they? There is no future for them. Plan your future settling up your Rot IRA and getting funds sent to it through *CyberHackSpy202🟠net*

  • @KINGDOMBOSSLIFE
    @KINGDOMBOSSLIFE 3 ปีที่แล้ว +1

    Love your show guys! You guys are definitely helping us. God bless!

  • @yvettejohnson3388
    @yvettejohnson3388 3 ปีที่แล้ว +2

    Best info I’ve heard all year 🙏🏽🙏🏽I’m so greatful

  • @smonelh
    @smonelh 3 ปีที่แล้ว +61

    This is the best explanation I’ve ever heard about depreciation! I’ve had businesses for years and I never quite had it down 100%. Thank you!

  • @Footin50
    @Footin50 3 ปีที่แล้ว +8

    I’m learning every day and educating myself to become more self efficient and to give up the Kronos Clock on somebody else watch. Not just for myself but my daughter can learn from me as well and leave a legacy behind for her children. She also has the same mindset as me when we talk. I’m definitely going to share this link to motivate her promising future on independence 🗣💯

  • @kinggoose9613
    @kinggoose9613 3 ปีที่แล้ว

    Shout out to her went to high school wit her glad to see her doing great and helping people

  • @djddupree
    @djddupree 3 ปีที่แล้ว +6

    Yoo u guys platform is super DOPE! I really appreciate what u guys r doing man!

  • @kimberlysanchez8516
    @kimberlysanchez8516 3 ปีที่แล้ว +6

    Enjoyed watching this. She was spot on with educating people on how to keep business and personal separated. I as well own a trucking company and just opened my Freight Brokerage company. It is vital to small businesses to learn how to building business credit and keep personal separate to secure your personal assets. FYI get those gas cards for your trucks my brother!

  • @doeboydhk
    @doeboydhk 3 ปีที่แล้ว +13

    You guys put chills threw my body so I know what your doing is 💯 love. I just stared my business last week and have no idea what I’m getting into just jumping in and helping employ teenagers in my community. Idk what the price will be but I’m going to try and start putting something to the side cause I really wanna be a part of this group. Keep doing what your doing💯💪🏾 we all need this blessing.

  • @michante7517
    @michante7517 2 ปีที่แล้ว +3

    just learned a lot in 20 minutes, yall out here saving lives. thank you

  • @Jahguaar
    @Jahguaar 3 ปีที่แล้ว +11

    I am committed to self-development and thriving.

  • @charlesmenifee7886
    @charlesmenifee7886 3 ปีที่แล้ว +3

    Wow. I’m so glad I came across this channel. I’ve been thinking entrepreneurially since a kid and there’s a lot of things I learned in college by reading books and talking to people who were successful from a business standpoint. So I knew about business credit a long time ago and recently purchased my latest car in my business name. I have business credit cards as well. But what I didn’t realize, until now, was how important it was to treat that vehicle as the business’ personal car. Meaning that use your business’ credit/debit card for all related automobile expenses. In fact, I have two businesses; one Tutoring Franchise and the other is a Game Truck, whereas I use a Ford Expedition to pull the game trailer. All of that has to be on the business. I’m sure I do it the majority, if not all, on the expedition, but definitely not on the car I use for commuting back and forth on the tutoring franchise. Now I know. I’ll be getting a gas card ASAP. Thank you! I’ve liked and subscribed.

  • @KelvinMcNeil
    @KelvinMcNeil 3 ปีที่แล้ว +17

    I love this video! Yes, Business Credit is the most underutilized financial hack and it’s not hard to get approved for a gas card either. I encourage all small business owners to build business credit ASAP. Don’t wait! Buying a car is just ONE of the benefits of building business credit. Keep up the great work fellas.. spreading the wealth of knowledge.

    • @mariechannel10
      @mariechannel10 2 ปีที่แล้ว

      Really cause I’ve tried twice and was denied twice

  • @shocktheworldTV
    @shocktheworldTV 2 ปีที่แล้ว

    I have multiple businesses and a non-profit and I have never known this y'all dropping mad knowledge bro keep it up💪🏾💪🏾💪🏾💪🏾❤️❤️

  • @brandongraham4949
    @brandongraham4949 3 ปีที่แล้ว +5

    I was literally looking for a video on this topic earlier today! 🙏🏾

  • @adfproductionz3606
    @adfproductionz3606 3 ปีที่แล้ว +16

    Awesome gems thank y’all for put these informational,life changing, game changing sessions together. All praises to the most high 🙏🏿🙏🏿

  • @daytodaywitdomo143
    @daytodaywitdomo143 3 ปีที่แล้ว +1

    Definitely appreciate y'all doing this! this is how alot of us will business and finances. Thank all of you!

  • @myad5059
    @myad5059 2 ปีที่แล้ว

    It's always good to see my brothers educated however one brother doesn't give the other not enough time to talk and express himself and share on the business however the woman was very knowledgeable and what she does and I'm so glad I watched this video all way through. Thank you guys

  • @bon1bon
    @bon1bon 3 ปีที่แล้ว +21

    You guys should talk about the fine print in the lease/finance paperwork and the insurance paperwork. Are you guys paying commercial insurance? Did you check off that the vehicle will be used for business use? Are you required to have a commercial tag on the car?

  • @demetricharris5921
    @demetricharris5921 3 ปีที่แล้ว +3

    Full of GEMS! Thank you all, you got a new subscriber! Peace, love, & harmony to all.

  • @estifanosberta-samuel2570
    @estifanosberta-samuel2570 3 ปีที่แล้ว +2

    This is brilliant information and has answered all of my questions about business finance management! Thanks for posting!

  • @Divinesybil504
    @Divinesybil504 2 ปีที่แล้ว

    You guys are the TRUTH. I just seen one if y'all 18 wheelers on I-75! I started screaming "look that's Rashad nem"!!! Had no idea y'all had EYL Trucks on the road. So inspiring!!

  • @COACHINGWITHSTEPHJAY
    @COACHINGWITHSTEPHJAY 3 ปีที่แล้ว +8

    So glad I seen this some powerful and useful information 🙏🏽.

  • @alphamale8764
    @alphamale8764 3 ปีที่แล้ว +7

    Bless the day I discovered the EYL !!

  • @amped71theynotready-live52
    @amped71theynotready-live52 2 ปีที่แล้ว +1

    Glad I found you guys. I started a Trucking business this year. Thanks for all you do for the viewers.

  • @porcagggy8335
    @porcagggy8335 2 ปีที่แล้ว

    I’m intrigued by their honesty and service

  • @niameanspurpose
    @niameanspurpose 3 ปีที่แล้ว +4

    i have scrolled past this video for a good while and today i paid a visit. Awesome! Thank you for sharing..im a new subbie and i liked the video!

  • @MiguelCastroInternational
    @MiguelCastroInternational 3 ปีที่แล้ว +48

    Big Ups to your CPA. I'm a new follower & y'all need to promote her name & business contact info. She's an asset to any up'n coming business owner.

    • @MakeupDivaMesha
      @MakeupDivaMesha 3 ปีที่แล้ว +2

      Yes other Black Business Need her !!

    • @brooklynforever1990
      @brooklynforever1990 3 ปีที่แล้ว +5

      She’s easy to find. People aren’t looking it’s in the description box

    • @bullyboy585
      @bullyboy585 3 ปีที่แล้ว

      Literally

  • @missbree1855
    @missbree1855 3 ปีที่แล้ว +2

    GLAD I JUST CAME ACROSS YOUR PAGE. GREAT JOB!!!

  • @MiMelaninBeenPoppin
    @MiMelaninBeenPoppin 2 ปีที่แล้ว

    Everything happens when it's scheduled too and this video is no exception. It showed up in my recommendations at the correct time especially when we are getting ready to upgrade our family vehicle and we own businesses.

  • @TheCreditElect
    @TheCreditElect 3 ปีที่แล้ว +80

    It never fails...your credit can either put you ahead of the class or hold you back. This is great information that most people don't even know is possible. Keep up the great content!

  • @vmac38
    @vmac38 3 ปีที่แล้ว +4

    That's good info. Didn't find out about this until I leased a car from Uber back in 2015.

  • @witsendunfolded5561
    @witsendunfolded5561 3 ปีที่แล้ว +1

    Thanks for posting the info. Good nuggets dropped here, headed out to purchase a delivery vehicle in my business name!! 🔥🔥🔥

  • @nakiamccall1875
    @nakiamccall1875 3 ปีที่แล้ว

    I love it! Definitely supporting and investing in our community 👍🏽I own 2 businesses and learned valuable information. Thanks!

  • @LifeofJoban
    @LifeofJoban 3 ปีที่แล้ว +70

    Don’t forget if you fully depreciate an asset especially 100% standard when you sell the asset for capital gain you will have to pay those taxes fully..

    • @mcmaizen
      @mcmaizen 3 ปีที่แล้ว +5

      Good point. Can't overlook that fact

    • @9mccloud
      @9mccloud 3 ปีที่แล้ว

      Thanks for that valuable fact 👌🏾

    • @MrJimipurplehaze
      @MrJimipurplehaze 3 ปีที่แล้ว +10

      Gift it to a relative. Son daughter ect

    • @brklyn2922
      @brklyn2922 3 ปีที่แล้ว +1

      @@MrJimipurplehaze Yes that's what the rich do.

    • @crystalb6428
      @crystalb6428 3 ปีที่แล้ว +3

      Absolutely. Many things happen when you hear the golden side of a scenario. Each client tax planning needs assessment. Reason why there is a cost for that service because you are becoming educated in the process. Create a team your financial advisor, TAX professional, and attorney

  • @foxonflix4940
    @foxonflix4940 3 ปีที่แล้ว +7

    These are fantastic financial tips coming from a beautiful black sister & brothers. Many thanks 🙏🏾

  • @robertwilson2849
    @robertwilson2849 3 ปีที่แล้ว +1

    Im joining ! Love Y'all, y'all the Greatest out here! I ain't lying bro !

  • @chantelmoore2184
    @chantelmoore2184 3 ปีที่แล้ว +105

    My father was the first person to teach me you could get a car in your business name.

    • @eobasiolu22
      @eobasiolu22 3 ปีที่แล้ว +2

      I’m assuming you have to register the company first? Or does it work for sole proprietorship?

    • @dross759
      @dross759 3 ปีที่แล้ว +1

      ???

    • @lexiecoar8929
      @lexiecoar8929 3 ปีที่แล้ว +3

      My 19 year old son explained it to me....🤦🏽‍♀️

    • @theadmiral460
      @theadmiral460 3 ปีที่แล้ว +6

      my white classmates with bmw and rx7 told me about it...back in the 90s lol..sad part is my mother is a CPA & never taught me about writing off vehicle costs lmao

    • @KeiyaHood
      @KeiyaHood 3 ปีที่แล้ว

      Okay .. please tell us what to do. Lol

  • @Matunia23
    @Matunia23 3 ปีที่แล้ว

    Thank you so much, because I was contemplating on purchasing a vehicle in my business name, and I didn't know all these important things, that's needed so much to prosper!!👑🔥🌻🤩

    • @cryptoplayhouse5896
      @cryptoplayhouse5896 3 ปีที่แล้ว

      I can help you with your investment plans in bitcoin if your interested

  • @buickboii
    @buickboii 3 ปีที่แล้ว +5

    ...OMG MS BUSINESS.. gosh I love her brain 😍

  • @roxanneoates6476
    @roxanneoates6476 3 ปีที่แล้ว +3

    Dang I just learned something. Need to make some changes because I would love to use my business info for all of this. Been doing it wrong for so long. Thanks for the education.

  • @trish4905
    @trish4905 3 ปีที่แล้ว +1

    Awesome video🙌🏾🙌🏾🙌🏾. Jewels dropped...

  • @latoyad
    @latoyad 3 ปีที่แล้ว +2

    This information right here I definitely needed. Im currently in the process of starting my own business and the foot work is crazy due to the lack of business and financial knowledge within the community. I so appreciate this information and will be subscribing and implementing this info into my business. Thank you..

  • @TheAshanti0001
    @TheAshanti0001 3 ปีที่แล้ว +5

    Thank you for this video I was literally just looking for this information 💎💎💎

  • @flironman
    @flironman 3 ปีที่แล้ว +3

    Great information guys. Thank you so much. Just started my LLC and I want to do things right.

  • @HoodClassy
    @HoodClassy 3 ปีที่แล้ว +2

    Phenomenal information!! THANK YOU

  • @thekjeffect1942
    @thekjeffect1942 3 ปีที่แล้ว

    Thank You!!! I appreciate you and what you do. Thanks for the information.

  • @gatesstudygroup8913
    @gatesstudygroup8913 3 ปีที่แล้ว +9

    This a good one . Quick simple straight to the point . Bring her back

  • @omarbonifacio3965
    @omarbonifacio3965 3 ปีที่แล้ว +1

    Dope content! This definitely helped leading up to tax season...

  • @BrooklynBratt
    @BrooklynBratt 3 ปีที่แล้ว +2

    Thank you, this was so informative!

  • @biginterview7340
    @biginterview7340 3 ปีที่แล้ว +3

    Great information but there are a couple items that should probably be highlighted in a bit more detail:
    1. Section 179 of the tax code details the vehicle deduction criteria and it’s based on GVWR (gross vehicle weight rating) and that needs to be over 6k lbs...so a Range Rover does qualify along with most other full size luxury SUV like a Bentayga or even a Urus.
    2. Building biz credit starts when you get your EIN and open your biz bank account. Deal with an entity that will at minimum gives you a biz debit card and optimally a biz credit card. Low limit isn’t an issue because as you pay it down you bank will automatically up your limit if you pay it ON TIME.
    3. Get a DnB (Dun and Bradstreet) number. DnB is an organization that monitors/reports on commercial/biz credit and with the number attached to your EIN you build a visible credit history in your biz. So using your gas card or any credit that ties into your biz builds your credit portfolio and in 3 years (of solid payments) allows you to buy assets on credit with the biz as the guarantor and not you & your personal credit as the backer.
    4. A write-off is just using an asset’s value to lower your taxable revenue/income. So be smart...if you buy a $250k Lambo Urus cuz it 6k lbs but ya biz only made $50k ya hustling backwards! LOL! Serious accounting & IRS red flags go up!

  • @supermodeljaz6829
    @supermodeljaz6829 3 ปีที่แล้ว +6

    This wealth of information!🙏🏾

  • @ToniaStrong
    @ToniaStrong 3 ปีที่แล้ว +1

    Omg finding this a a totally blessing...🙏🏽👑🔥

  • @brendameteyer6377
    @brendameteyer6377 3 ปีที่แล้ว +1

    Thank you all for sharing, this is GREAT.

  • @dontebland8752
    @dontebland8752 3 ปีที่แล้ว +12

    They really got me out here tryna finesse. I appreciate y’all spreadin love to the hood on a real educational tip.
    They don’t want us knowing this so y’all put us on. Thank y’all. One.

  • @jukboxx01
    @jukboxx01 3 ปีที่แล้ว +3

    thank you for this!!

  • @vacuumunit
    @vacuumunit 3 ปีที่แล้ว +2

    Thank you very much GUYS.. we need more channels like this :-)

  • @nanaoppong424
    @nanaoppong424 3 ปีที่แล้ว

    These are some powerful nuggets !!

  • @sbhimji4568
    @sbhimji4568 3 ปีที่แล้ว +8

    If Shaquanna CPA had her own TH-cam channel, I would definitely subscribe. Every video she has ever appeared in, should be on her channel, too.

  • @dcsking9042
    @dcsking9042 3 ปีที่แล้ว +209

    i need her as my CPA! the lady i go to didnt tell me nothing about this and i have an LLC

    • @wormywoods1
      @wormywoods1 3 ปีที่แล้ว +26

      I understand I just decided to stop dealing with mines because she wasn't transparent bout things tht could help my business , I'm following

    • @christopherturner8386
      @christopherturner8386 3 ปีที่แล้ว +12

      Yea these people are God sent.. We support them and they return the favor with gems!
      Llc or corp, do you get the same write off perks?

    • @Briana_Amelia
      @Briana_Amelia 3 ปีที่แล้ว +7

      @@christopherturner8386 def God sent he tryna give us what we deserved for years 💯❤️

    • @hiitsme3039
      @hiitsme3039 3 ปีที่แล้ว +6

      She probably didn’t know

    • @ature2003
      @ature2003 3 ปีที่แล้ว +6

      Wow so important to have an active accountant

  • @dawnben9377
    @dawnben9377 3 ปีที่แล้ว +1

    Someone needs to hear this!

  • @slidefiveup4897
    @slidefiveup4897 3 ปีที่แล้ว +1

    Some how this ended up in my time feed but you know what it’s all good 👂 from this stand point👍🏽

  • @othatdude30
    @othatdude30 3 ปีที่แล้ว +18

    Co applicant versus co signer jewels 👊🏾

  • @ayeshakhatib7359
    @ayeshakhatib7359 3 ปีที่แล้ว +3

    There are also those people who have great credit, a high credit limit, always pay on time, but no financial responsibility because they are living on credit and their parents are still paying their bills at 36 years old it is because I thought so too. I had a medical condition which put me through a lot, things were not working out, it cost me a lot, let me spare you the tale of my woes and give you the good news I had a credit score of 540 as at last year before a friend told me about LEGITREPAIRS🎡ORG, initially, I was skeptical but they have been able to increase my score to 791.

    • @srinidhimoily3672
      @srinidhimoily3672 3 ปีที่แล้ว

      He was a very courteous individual since I was with him, He transferred new tradelines into the database of every one of the 3 Credit Agency and assist me with expelling all injurious, Criminal record and late installment at that point help my FICO rating. He guaranteed me a superior activity and he never fizzled me,He was additionally ready to assist me with taking care of my Pursuit Visa Obligations with Naval force Government Mastercard Obligations Along as well. I'm so intrigued with his extraordinary activity since he did it so flawless with no follow and this was so changeless on my report. Reach them LEGITREPAIRS🎡org utilizing any web search motor e.g Google

    • @baitalivlogs7270
      @baitalivlogs7270 3 ปีที่แล้ว

      I'm 40 years old, married 11 years, and we have 2 children. First four years of our marriage, we had 3 cars stolen. Then a car that was flooded a few years later, then our rented house and another car flooded a couple years after that (we had to swim out of our house) . I've never made nore than $20/hr in my life. In 2015, we were $110K in debt. Student loans, car, and credit cards. Now, in 2019, we are $50K in debt, with only student loans and our car. We've been watching EVERY penny. In the past 4 years, we've cut out $60K of debt. I'll be 45 when we are able to buy our first house, and our children will be teenagers, such is sad, but we will not have any other debt. What makes me happy is that our children are going through this struggle with us. When they are old enough to be our in the world, they will already know what my wife and I have been learning for the past 11 years, and am glad Jason doesn't want the stress for us, he comes online and introduce us to LEGITREPAIRS🎡ORG 2017, no much talk i got a perfect credit score combination with wife

  • @candicecrawford1775
    @candicecrawford1775 2 ปีที่แล้ว

    Thanks so much for the car loan tip about cosigner and coapplicant. Great info!

  • @aminogang4196
    @aminogang4196 2 ปีที่แล้ว

    Salute to y’all being able to laugh and share info

  • @teknicolrmusic4333
    @teknicolrmusic4333 3 ปีที่แล้ว +3

    Man this is absolutely dope............. I had no idea

  • @sabinogutierrez5094
    @sabinogutierrez5094 3 ปีที่แล้ว

    400K subscriber here! Congrats guys!

  • @clairemendoza5402
    @clairemendoza5402 3 ปีที่แล้ว +33

    Success is dependent on the action or steps you take to achieve it. Show me a man who doesnt have an investment and I will tell you how soon he'll go broke Investment is building a safe haven for the future: with the right choice of investment that has at least 1% minimum risk and with an Expert guidance, profit and interest should be guaranteed.

    • @monicamaria6101
      @monicamaria6101 3 ปีที่แล้ว

      Yeah that's true, Success comes as a product of work, you don't sit and wait for it

    • @monicamaria6101
      @monicamaria6101 3 ปีที่แล้ว

      Successful people don't become that way Overnight. What most people see at a glance-wealth, a great career, purpose-is the result of smart work and patience over time.

    • @luisdaniela4624
      @luisdaniela4624 3 ปีที่แล้ว

      Success isn't just about what you accomplish in your life; it's about what you inspire others to do

    • @povgabrielfernandez5854
      @povgabrielfernandez5854 3 ปีที่แล้ว

      Yeah! I agree with you

    • @povgabrielfernandez5854
      @povgabrielfernandez5854 3 ปีที่แล้ว

      If you want to be successful have the mindset of the rich, spend less and invest More. Don't give up your dreams.

  • @mr1asvegas784
    @mr1asvegas784 3 ปีที่แล้ว +5

    This is great info to share. For the mileage you can use the app called (Mile IQ) which tracks your mileage that you use for your business. The one thing she didn't mention about using Section 179, which allows you to write off $25k on a business vehicle in the FIRST YEAR that is over 6000lbs. This is what you do, buy the truck and let the tax write off pay for the first two years of your payment. Then trade it in after the two years and do it all over again. You will never make a payment this way. (mind = blown)

    • @billion86
      @billion86 3 ปีที่แล้ว +1

      You use The Grant Cardone method too 😉

    • @eddiexhey
      @eddiexhey 3 ปีที่แล้ว

      so you're not making payments at all? I'm confused

    • @aliciamarie6754
      @aliciamarie6754 3 ปีที่แล้ว +1

      Explain a little more.... I have an LLC business I started back in nov 2019... I don’t kno where to start for business credit and credits cards but where do I need to start in order to buy my dream car in my business name

  • @verasmith1900
    @verasmith1900 3 ปีที่แล้ว +1

    Beautiful smart and knowledgeable woman!! Thanks for the valuable information!!💯💯

  • @gineenspring855
    @gineenspring855 3 ปีที่แล้ว +1

    Wow, this is a Great Topic!

  • @stayfocusedmedia
    @stayfocusedmedia 3 ปีที่แล้ว +3

    Great video I got to start using my business credit card for gas

  • @lawrencecoleman3559
    @lawrencecoleman3559 3 ปีที่แล้ว +2

    New subscriber, I need this knowledge. 💪🏾

  • @floyddodds5701
    @floyddodds5701 3 ปีที่แล้ว

    Thanks for the info. Much appreciated.

  • @l.300
    @l.300 3 ปีที่แล้ว +29

    OMG yes I was waiting for y'all to put this 💎💎 out on TH-cam I have a luxury car through my business (LLC)

    • @l.300
      @l.300 3 ปีที่แล้ว

      @@marcoskenny1052 I am still pretty new at trading only 2 1/2 months in...I try to listen to money market mondays they host but get lost sometime being that I'm still new u know but I'm look into focusing on bitcoin more seriously

    • @gatesstudygroup8913
      @gatesstudygroup8913 3 ปีที่แล้ว +1

      Do you mind letting me know how you got started on that ? This my email poodyistheman@gmail.com

    • @l.300
      @l.300 3 ปีที่แล้ว +9

      @@gatesstudygroup8913 went to my credit union (bank) where my business account is, talked to the appointed business financial associate, told her my plan of needing a transportation for my biz. Told me what I needed to do, what they looking for in order to get a loan from them I went and did it...all banks need differ things from you (your business ) to qualify for the loan but get a duns# type it in on Google, its easy to apply for, then google cards that report to duns and bradstreet and apply for those. u can also ask ur credit union (bank) what credit cards they have for business acct. n who do they report to.

    • @Super29127
      @Super29127 3 ปีที่แล้ว

      @@christabelbas9177 how can I learn more & invest?

    • @shygal976
      @shygal976 3 ปีที่แล้ว

      @christabel bas hi. I’m new to trading too and I’m interested in crypto currency. Can I also reach out to you. I really need guidance