[00: 00: 00 – 00: 00: 21]

A lot of people, like I said, misinformation being spread around. A lot of people that I run across say that LLCs give you tax benefits, and they do not. It’s passed through. Right. They do not give you any tax benefits. That’s just liability, right? Protection. Okay.

[00: 00: 22 – 00: 00: 57]

Welcome to the Share the Wealth Show, where minority professionals can learn to escape the racial wealth gap and catapult themselves into abundance. Your host, Nicole Pendergrass, grew her net worth from being negative to multiple six figures. Join her on her investigative mission to expose secret strategies of the wealthy so we can all have the tools needed to build the life and legacy we were created to possess. Now it’s time for the show.

[00: 00: 58 – 00: 01: 47]

Hey guys, so we’re back again. This is the second part of the episode with today’s guests. I need you, if you have not heard part one, go back to the previous episode and listen to that first and then come back and join us here today. You need to hear the whole conversation. This is why we split into two parts. There’s so many nuggets, it’s so juicy. Go back and listen to the first part. Okay. Now, is there a difference? I know you help with like entity structuring and all that stuff too. So what- everyone default, not everyone, but a lot of people default to LLC because it’s just like an easy, easier entity to open up and more protection than like being a sole proprietor, something like that. So is that normally the best entity or when should you look at a C-Corp or S-Corp or should a new business ever even go that route?

[00: 01: 48 – 00: 02: 44]

Yeah, so it depends on the income that’s coming in. If this is a company that’s coming in, generate income out the gate. you know, 40 or $50,000 net, that means after all of your expenses and everything, that’s where you’re sitting net, you definitely wanna be in an S-corp, because then you’re gonna have to pay self-employment taxes on the entire amount, right? So if you elect to be an S-corp, immediately, then you will only pay self-employment taxes on your reasonable income. So you made $100,000, the reasonable income was 35,000, that part is what you pay self-employment tax on, not the remaining part. A lot of people, like I said, misinformation being spread around. A lot of people that I run across say that LLCs give you tax benefits and they do not. LLCs do not. It’s pass through. Right, they do not give you any tax benefits. That’s just liability, right, protection. Okay.

[00: 02: 45 – 00: 03: 50]

And to answer your question about the C-Corp, the C-Corp is for people that are thinking about going public. You know, you want unlimited shareholders. You want shareholders that are not in the country. So the C-corp allows you to do all of that, right? Where the S-corp boxes you in on that, right? Go with the C-corp route. Okay. Yeah, because I know that I, and I heard that from another, like my actually attorney tax, I’m not attorney, no, CPA tax strategist. He said the same thing, like, once you get, you have a business that has a certain amount of income, like the 40K mark was a benchmark, then he said, then if you start with the LLC before you have any income, and then once you hit that 40K, then you just file to be taxed as an S-Corp. But I don’t, so then that’s just so that you don’t get tax on that full income, because otherwise the write-offs that you can take are the same, but it’s really about that, writing off not the whole income, or not cleaning the entire pot of income. Right.

[00: 03: 51 – 00: 05: 09]

So when we start thinking about that self-employment tax and the power behind that, if you have $100,000 net at 15.3%, that’s 15.3%, that’s $15,300, right? On top of your federal, on top of your state, on top of your city local, so that you see where we need to get rid of that self-employment tax as quickly as possible. And that’s what the S-corp does for us. Okay. Yeah. Now this, oh my goodness, my brain is just like so much information. Now, no, it’s good. It’s great. I like, I want these to be more like masterclasses where people actually get something they could take and like. Talk to their own CPAs about it and really kind of challenge what they’ve been told if they’re CPA, because not, like you said, not everybody is created equal. Um, but you do hold consultations for just like individuals. Right. Okay. Yes. Okay, so people could reach out to you if they wanna have a consultation and like have you look over, you know, what the issue is and kind of diagnose their past taxes or something like that. Right, yes. Okay.

[00: 05: 10 – 00: 06: 47]

On my website, I even have where they can fill out a form. If someone’s feeling like, I don’t even know if I’m in the right structure. I have an entity formation audit there where they can put in their information and I can give them a synopsis on if they were a sole prop or a limited partnership, if they were LLC or S-Corp or C-Corp, so then they could see everything on a broad scope in front of them and then they can make the best decision, right? So I offer that on my website as well. Okay, that’s great, because I always have, I have so many ideas, like businesses that I want to open in the future, but so I’m in the process of opening, and I’m always just like… If it’s gonna be long-term rentals, then I’m just going to stay with the LLC. But then if I’m doing an active income, then I’m like, I’m gonna start with the LLC and then transfer to the S-Corp once I get income. But then how, I have way, I don’t know how I got so many LLCs. I have no idea how this happened just over the years. Can I talk about that? Yeah, like I’m just thinking about like the structure. Should this LLC own this LLC? And then how do we do taxes for that? And how does one LLC borrow from another LLC? How do I take money if I want these LLCs to be paid for my lifestyle? How am I taking it? How am I supposed to take withdrawals and distributions? Like I’m on a different place. I think, I think my, my account, I even had recently hired a bookkeeper just to like, not even proactively, but retroactively kind of try to like. Organize things because yeah, I just need more guidance on how I’m supposed to do this the right way so that my books look reasonable. Very cohesive, right? Yes.

[00: 06: 48 – 00: 07: 51]

So to that point, back to the misinformation that’s being spread around out here, I meet some clients that come to me for help and they have like 25 LLCs, I promise you, like 30 LLCs. And I’m like, okay, the first question I have is why? Why? Because those are expensive and you have to maintain them, right? You just start out here like it’s Christmas, just pulling out LLCs, so. Okay, I’m definitely not that bad. I don’t have the brain bandwidth. That’s crazy. Yeah, and it’s like, I don’t, and I don’t know if I’m supposed to shut down LLCs when I’m not using them anymore. Like some I’m like, I know I had this LLC at some point. What’s going on with it? Because I don’t use that. So I don’t know. But in any case, I think I probably have maybe around five or so, which is not, it’s not bad when you talk about. 25, that’s crazy. And they’ll tell me things like I was told that, by their mentor, their guru to get funding.

[00: 07: 52 – 00: 09: 02]

So you wanna go to 30 states and get funding in all 30 states. You know, that really kind of irritates me, the level of people just selling you LLCs, right? Cause they’re profiting off of it. You really don’t need those LLCs that many, right? To get any amount of funding. I can definitely show you a different strategy where you can get all the funding that you want for your business. but it shouldn’t entail you going and setting up LLCs and bank accounts in every state. And then also, it’s a lot, it’s a lot. So to answer your question, yes, that’s exactly what tax planning is. That’s what I do. So I have people like yourself that come to me and then I look at everything and I say, okay, well, we’re gonna have your W-2 income and whatever income you have sitting out here. And then we’ll go ahead and we’ll set up this S-Corp. from this escort, which would be the holding company, you can have different LLCs pointing out of that escort. But the escort’s purpose is like the nucleus. Think about it, it’s like the nucleus. It’s the bond that holds everything together. And then from there, we can put you on payroll. We can, like I said, have other LLCs. We can write off your health insurance, right? That’s another thing that we probably gotta do a whole another podcast on, right? Health and food. Yes, because I’m trying to step away from my job shortly.

[00: 09: 03 – 00: 10: 00]

The main thing holding me back was like, the cost of health insurance. And I was thinking, oh, maybe I’m gonna need a part-time remote job, at least something like that, so that I can still get health insurance. But if I could find something reasonable and write it off, oh yeah, we need to talk. Yeah, you can write it off. Not only can you write it off, you can have it, where you can get a health savings account, which is another tax strategy, where we can dump money into that health savings account. And then we could self-direct the health savings account to do what we want. When I tell you that it’s endless. Oh my God, so much. It’s endless what you can do, really. It really is endless. And when I talk to my clients, they’re thinking that they’re coming to me just for tax savings, right? I just want to save a bunch of money. But I’m like, oh yeah, what about your health coverage? What kind of health coverage? And I keep going further, right? Taking them further down this rabbit hole, that’s amazing. That things they never heard of, things they never imagined. that it was even possible for them to do, right?

[00: 10: 01 – 00: 11: 22]

Okay. Listen, I know you’ve been digging in, studying everything you can, listening to all the podcasts, reading all the books, even going to meetups. You basically have a degree from YouTube University, right? But you still feel stuck. You don’t know how to actually implement what you’ve learned. You’re nervous about taking the next step. So I’ve decided to start the Micro Family Investing Accelerator. This is a mentorship program where I personally guide you through my five proprietary pillars so you can learn how to buy your first. commercial multifamily property and scale while not biting off more than you can chew by focusing on 5 to 20 units. That’s what I call micro family. And so you can also get hands-on guidance from an experienced micro family investor who’s been right where you are. And so you can also create the cash flow needed to give you freedom and options to build the abundant life that you were destined to live. So I’ll be limiting the first cohort because They’ll have direct access to me and I will be heavily invested in their success. If you’re ready to grab 2023 by the horns, schedule a free discovery call with me today. The link is in the show notes. And now let’s get back to the show.

[00: 11: 23 – 00: 12: 39]

Okay. Yeah, we got to talk because I love my, my CPA slash tax strategist, but we, when we’re on the phone and having a call and I’m, I’m about certain things he’s like oh yeah we could definitely do that I’m gonna send you an email about that and all these things and then like it’s crickets and I like because he and the thing is like I know he’s super busy because he’s always out there and he’s involved in a lot of things but I just feel like I’m like you know like kind of left to the wayside and then I hate being the squeaky will so I might email you like a month later. And then, or I might just not and just wait, you know what I mean? Like, or I’ll forget what my question was at some point. I don’t know. Um, but yeah, I definitely, I just don’t like being the squeaky wheel. And I kind of, I like, okay, somebody said they’re going to do something and they’re going to do it. And then that’s it. And help me plan this all out. Cause I know he knows what he’s talking about, but I just can’t get that information to me. So, but yeah, so we, we need to talk. I got a lot of plans for the future and moves and things I want to make. And I want to know financially how I’m setting this up for the tax benefits and what my income is going to look like moving forward and things like that.

[00: 12: 40 – 00: 13: 42]

But we’re gonna talk for a while, but we could just keep talking because there’s so much, this is just so interesting to me because I’m a little nerdy too. Wait. You said you’re nervous. I said, no, I said a little nerdy too. Oh, I thought you said I’m nervous with all the information. No, but you said you have a better way to get all the business funding you need. You know, I can’t let that slide. We got to know what that is. Um, I have done the whole building business credit through your LLC thing. I’m still working on it. It’s a lot. You go through traditional way to, to increase your payday score. It’s a lot like you have to buy things you don’t even need yet for your business just to show this will pay it off. Like, it’s like, why am I buying this stuff that I got to spend a certain amount of money just to like build up my credit is just in my kind of batteries and paper towel. I started just like at first I was buying crap that would look business oriented. So it would make sense. And I was like, forget this. I’m going to just start buying stuff I need for the house because why not?

[00: 13: 43 – 00: 15: 00]

And then the stuff, if you buy it commercially is so much more expensive sometimes than going to Amazon or something, you know, like Why am I buying $70 for toilet paper? We don’t even got space in our apartment for all this toilet paper. Like what? So my business credit building is very spotty and sometimes I’m on it and thinking about it and sometimes I’m just like, I don’t know. This is just to get you long. It’s just too much like involved. Okay, enough of me ranting. What is this other strategy you’re talking about? So. I myself went through that and I see so many clients go through it. So I actually put together a course. It’s called the now proof Academy and in the now proof Academy. It takes someone that doesn’t know anything. You cannot know anything at all. All the way down to how to become your own tax strategist within this course. Right? Um, the, the road to business funding and, uh, is, um, is it varies per person. So it’s not a one and done. It’s not a cookie cutter. You can have be a person that has bad personal credit. Well, then we will have to go a different way for you, right? That’s where, you know, most of the people tell you, go and set up the vendor accounts and buy a bunch of batteries and all this stuff on autopilot and build up your paydex score.

[00: 15: 01 – 00: 16: 00]

Or I say, you could just step back and we can look at your personal credit. Take all that money from them batteries and that tissue and let’s go ahead and just fix the credit. Let’s fix the problem. So usually it’s not even as bad as we thought it was when we look at the credit report. And I don’t do credit repair, anything like that no more because it was just too much for me. So what I do is I have a course and I teach people how to fix their own credit as fast as possible. I give them the consumer laws; I give them the letters that they would need to do it yourself. And I give them a step-by-step guide to just follow. Right? Okay. Now what if you have good personal credit? If you have great personal credit, then you can personal guarantee a business out the gate. You don’t have to wait the two years; you don’t have to do all of that stuff. You can say, hey, look, I know you don’t know what my business is. It could be high risk. But look at me as a person, as a business owner and operator, I’m gonna personal guarantee this business and you can get all of the funding that you want out the gate that way because they’ll trust you, right? Yeah. It won’t affect you unless you default on those loans.

[00: 16: 01 – 00: 16: 53]

Okay. Now, what about the inquiries? Like if you wanna get, let’s say you go to one place and they give you like 20K, you’re like, oh, I thought I was gonna get, you know, all these places. promise you, you’re gonna get 100 to 150K, all this stuff. And then you start applying to some places and they’re like the lower end, right? Because maybe you don’t have a high W-2 salary. So even though your credit is great, they’re only going to like approve you for a certain amount, especially if it’s a new business or the business income is not to a certain level. Cause sometimes they wanna see bank count statements and all that stuff. So is there a way around that? And then like… Does your program also show you how to get inquiries removed? Because if you personally guarantee, but then the credit line never shows up on your personal credit, because it’s a business credit line, how do you, you could get that inquiry off, right?

[00: 16: 54 – 00: 18: 08]

You can. And in my course, I have consumer laws. So in the consumer laws, you’re seeing the actual laws that you can read and cross-reference for yourself to show you how many ways you’re being violated out here. That’s like when we go to the car dealership. We never gave them permission to go back there, run us through 25 companies. We never told them that, right? And they don’t tell you they’re about to do that either. Come on, it’s crazy. Sorry, go ahead. Go ahead. They are violating you so much. Now listen, we don’t even know as human beings and then citizens and taxpaying citizens, we don’t even know how much we being violated on a day-to-day basis, right? For example, I went to purchase a car and I got the loan through. my bank. So they gave me the money already. I had the pre-approval, walked in a dealership and I said, okay, this is the vehicle I want. I have the money for it. They went back and still ran my credit. They still went, even though I had the money, the pre-approval, the letter, all I needed was you to do some paperwork and let me roll out of here with my car. I don’t need anything else from you. They still went and did it. And then they tried to lie and say they had to do it that way.

[00: 18: 09 – 00: 19: 00]

This was like a Bank of America. So they whatever they said, and I said, oh yeah, well let me call my rep at Bank of America and I’m gonna confirm that, cause they didn’t know I had a one-on-one relationship with that person that gave me that pre-approval. So if you don’t know, right, and a dealer comes out and says, I just called Bank of America, you’re gonna believe him, like we believe the CPAs, like we believe everybody else out here. So it’s a whole world, just like the tax code. the consumer law protects you as a consumer when it comes to your credit, the inquiries. And yes, you can have those inquiries removed by law, especially if you need the lines of credit. Yeah. Yeah, I hate car companies. I’m in the process right now of trying to buy or look for financing for a business entity so I can get some cars in a business name, because I’m gonna put them like on Turo or with a private rental.

[00: 19: 01 – 00: 20: 05]

And I’ve been on a phone, I feel like all week, calling different lenders and people are supposed to, like these lending institutions are supposed to like really help. And even if I have to PG is fine, but it’s just such a runaround. And most, it’s hard to get, find a lender who’s gonna get, you know, or give you the financing, the pre-approval for a car in your car name, the other, your business name. Because a lot of times too, they want you to go to the dealer and get the, the by letter or whatever it is first and then come back to them. But it’s just like the dealer is going to run it through that different people because I don’t, I don’t know. Like then you have all these different inquiries. And I don’t know if that’s treated the same as like your car shopping, I know your house shopping for a house and you have a certain number of inquiries in like a one-month period or something. Like it counts as one kind of thing. I don’t know if that is the same with car rentals and how, why do they got to go through so many? That’s what I’ve got to run it through so many people, so many credits. Do you want to know the reason why? Do you actually know the reason why? No.

[00: 20: 06 – 00: 21: 01]

Okay, so they’ll go back there and based on your credit, they’ll run it to the first one and they may not like what they’re going to get their part, their commission. They may not like whatever that’s called that they get. So then they’ll try the next one. Like, let’s just say it’s Honda. They’ll try what Honda has to offer and they’ll say, I don’t like what I’m going to get me them. So it’s always about them. It’s never about you. and then they’ll run it to the other one until they get what they like that’s best for them. If anyone hearing my voice, please, please understand what’s happening in the back room. It’s not for your benefit. You want that vehicle. It’s a lot of games that they play. They hold you there all day, right? They burn out your patience while they’re running your credit to the best buyer for them, for their situation. My advice to anyone that’s looking to get a vehicle would be to… build a relationship with your bank or your credit union, tell them what you want, how many vehicles you want, work out that relationship with them directly.

[00: 21: 02 – 00: 22: 12]

Because if you get approved there, you’re gonna get the pre-approval, or like Navy Federal, they’ll give you the actual check. Like, so if you say, I want that vehicle, and it was, you know, $55,927, Navy will cut you that check, and then you walk in and pick up your vehicle. So yeah. You know what my car rental place did to, or not car rental, the car place that we, we went and bought this is not supposed to be about cars, but this is all encompassing. It’s all about saving money and finances and whatever we got to do. But so we went to the car dealership. My husband and I had the money. Like we wanted to walk away with a car. We just wanted to pay cash. But they told us to pay cash was going to be the price of the car was going to be more expensive if we pay cash. And if we went through credit. So we had to go through credit because we were like, I’m gonna pay $5,000 more for. We didn’t really know about negotiating on cars and I could have left without getting anything. But then we had our father-in-law drive us all the way out there. It was like a half hour drive out the way. So I don’t know, it was just, they kind of, they got us. They got us and they ran our credit so many times and got us, they got us with the Wells Fargo.

[00: 22: 13 – 00: 24: 10]

But they also got us for like way more than what the car was. was worth it. It was just a whole horrible. I have a new found. That was our first car purchase and I have a new found disdain for like hard dealerships because we should have been able to pay with that car with cash and I had no payment. So that would have not served them. Yeah, that would have not served them because what they when they put you through finance and they get some maybe a lump sum and then they get money off the terms. So if they’re getting a residual off of that. So you walking in with cash, you’re not their ideal client. They don’t even want your cash. Well, I’d be like, if you don’t take my cash, I’m walking out of here. Now I’m just so jaded. Now it’s just like, whoever wants it more loses. Yeah. So when you’re walking into the car dealership and you’re ready to buy, like you have the decision, I’m walking out of here with a car today, you are the one that’s in the position of more vulnerability. And… and you can’t, you’re not as strong as a negotiating stance. So, but you live and you learn and you just move on. Okay, so I did talk to Navy, why am I still talking about these cars? I should be talking about this online, but I would might as well. I did talk to Navy Federal, right? And they do cars like in your business name, they will do that, but not if I’m gonna put it on, like it has to be for my business. If I rent it out, then they won’t loan on it. I don’t know if that’s like an answer you could tell me offline about how to overcome that but I’m gonna say need to know basis and we can offline anyone you know it’s a need to know basis and back to taxes with the same scenario so I told um one of my clients how to set up her to pay her children and put them on payroll open up the bank account now we want to put that money started talking to the representative.

[00: 24: 11 – 00: 25: 21]

She’s like, my tax strategist told me to set up my bank account as a custodial account so I could pay my children and put them on payroll. And they were like, you can’t do that. You can’t do that. Custodial. Jen, you have to go to court and get paperwork. I kid you not for her own biological children, because she used the word custodial when all we were trying to say was I need a bank account with my name on it and my child’s name on it. That’s it. Tell her she got to go to court, come back with court paperwork. I’m like, need to know basis. And that’s what we got to get through our heads that the regular bank teller car dealer, they don’t know most of the stuff. Tell them exactly what they need to know. You’ll need to go into all the details. Yeah, I’m gonna go pentagrass and I need three vehicles from my company. Period. The end. I like that all at one time too. I need 3 to 5 cars. Bank of America was doing that up until last year. I don’t know if they still doing that and you don’t even have to be a client with them, but check because they had a program where you could get 5 business vehicles.

[00: 25: 22 – 00: 26: 13]

So check with Bank of America and their auto department and see what kind of program they’re running right now, if any. Okay. Yes, definitely. We’ll check them out. Thank you. Thank you for that. Okay. This, I don’t even know how long we’ve been talking, but I know like, I could just keep talking. Just keep talking. So what we’re gonna do now, do you have anything else that before I go into the final round of questions that I ask every guest, is there anything else you wanna share you feel like we didn’t touch on that you think is important? I think we pretty much covered the cusp of it to give people the listeners an idea of, what is able, what options they have. I think we kind of touched across the board. Yeah, I feel like we touched a lot too. Everybody, they need to listen to this whole episode and take all the notes. And then contact you for some strategy. Okay. All right, I’ll get off my soapbox.

[00: 26: 14 – 00: 27: 48]

All right, final questions. The first one is Warren Buffett said that diversification is protection against ignorance. Now, what do you think he meant by that? And is that like a good or bad thing? What’s the gist there? Diversification, I think that… In this culture that we live in right now, I can talk to this on what I do on a day to day basis talking to people. A lot of people today want to go wide instead of going deep, if that makes sense, right? So we want to throw spaghetti at the wall and kind of see what sticks, right? That kind of thing. Now, it’s nothing wrong with diversifying because we should, right? We should have stocks. We should have maybe some crypto. We should have real estate. We should have all of these things, but we should educate ourselves enough in each one of them, right? we should kind of go down the rabbit hole a little bit instead of just throwing it at the wall, not knowing nothing and just kind of hoping for the best. Right? I think that we should give it the time that it needs to figure out. Like we were talking about, what does it take to be a real estate professional? Figure it out, see if you can fit in that mold, right? How can I write off capital gains? Are capital gains good or bad for me? So I think that, yeah, that’s what I think. I think that we’re going really wide in this culture. like the 50 LLC things, right? That kind of, one of them work. That kind of thing. And that’s my take on it. I love it. And I completely agree. I completely agree.

[00: 27: 49 – 00: 29: 02]

Okay. Have you ever played Monopoly before? Yes. Okay. And in the game of Monopoly, boardwalks are the most expensive, ball tickets the cheapest. Which one would be your first purchase and why? Like in strategy to kind of try to win the game. Yeah, I play a lot with my children and I’m always after boardwalk. I’m there, right? But then I also when they get boardwalk and they won’t give it to me, I’ll go to Baltic. You know why? Either I’m gonna break you down slowly as much as possible over time or I’m gonna hit you hard with boardwalk. So about two rounds you out of here time I throw some hotels on it. So as a strategist, I’m gonna go either way. If you got boardwalk, okay. Every time you pass a goal, I’m gonna get you. I’m gonna keep getting you until I wear you down slowly. But yeah, if I had to pick, boardwalk. Okay. But I love that. I love that strategy. Like, I’m not letting you win because you’re my kids. I’m kicking you out of here. Here’s to your mercy, Winston. Okay. I love that either. I’m hit you. I’m gonna get you out real quick. I’m gonna eat at you slowly. Okay. Yes.

[00: 29: 03 – 00: 30: 16]

Now, what does wealth mean to you? Wealth means to me the ability to live a free lifestyle for a longer period of time, right? If you do it fast and you take the action and you do what you have to do and you front load it, you’re able to enjoy the fruits of your labor for a longer time. right? And in my profession, I talk to some people and they get it. They’re like, wherever I’m at right now, I need to hurry up, send me their agreement. Let’s get started. And then some people are like, I’ll wait. I’m gonna wait. I’m gonna think about it. Okay, well, you, what are we thinking about? Right? I’m showing you where this is bad, everything, this structure here, and just showing you across the bridge. If you just cross over the bridge, you’ll get there. And when you get there, you’ll be there longer. So it’s living that lifestyle for longer. Having healthy relationships, right? Money always break down. It’s a huge factor in breaking down relationships, right? I see people arguing, breaking up, and it happened to me in my own life in marriage, right? Behind taxes, behind money, right? Wealth is health also, right? So we don’t have these stress, these other stresses about money and taxes and things like that. We’re able to live a healthy lifestyle with clarity, right? So health is also wealth.

[00: 30: 17 – 00: 31: 38]

So putting all these pieces together, all of these pieces together will have us living an abundant lifestyle, healthy with clarity, with perfect and wonderful relationships. And that’s what it means to me. Wealth. that was that was very genuine, transparent and to and down the earth. Okay, I love it. Now, actually, I’m starting something new. I started it with the last episode that I just recorded. And what it is I’m going to ask every guest to give me a final question for the next guest. So first, I’m going to ask you the question that the last guest is asking you. And then I’m going to ask you to come up with a question that I can ask the next guest. Okay, so the question that we have for you and this is actually. From Mr. Dexter B. Jenkins, and you can thank him later for this. But he said, what was the biggest obstacle that you had to overcome in your business? Like, what was the biggest? I don’t know, like. downfall, a hard time, or like when you hit rock bottom, like what does that look like? And what was that you had to overcome?

[00: 31: 39 – 00: 33: 04]

I would say for me, I want to say the ability to reinvent myself as quickly as possible, right? That wouldn’t be an obstacle because I think I’d do that fairly quickly. But being able to pivot, pivot with what’s going on in the marketplace, what the market is telling you, what your clients are in need of, jumping ahead of what you see coming. So that was for me, I could have stayed and played around with, you know, in the credit repair industry or just in the funding or in property management. all of these sectors that I just mentioned, I know the one thing that they all need, one thing they haven’t come in, and that is taxes and tax strategy. So I just, I would say for myself and anyone, it’s kind of hard when you have to pivot because you put so much into this thing, right? Gave it your all. And now something is telling you, you gotta move over or pivot, and it could be hard. And it was a little rocky for me. Right. But I’m glad I did when you get to the other side, you always realize that you are happy you did. Yeah. So out of those pivots, because you had a few different pivots. If you had to pinpoint like which, which career pivot was the most difficult.

[00: 33: 05 – 00: 34: 18]

Probably having to prove myself. Remember, I had the four properties and residential and Going from the residential the commercial property management. kind of proving myself here and what my abilities were, right, because I was being judged on, you know, past performance and as if that was my cap. So I had to work harder, stay up later, put in more work than anybody else, right, to prove myself. So I think that was it. And then from there, I kind of, it’s been all uphill from there, all straight up. Nice. Okay. I love it. Now, do you, I know you don’t know who the next guest is going to be. But if you have any question at all that you could ask the next guest, it doesn’t even have to be business related. It could be a personal question. It could be a funny question. It could just something off the wall or something about the topic in the show. It doesn’t matter. There’s no limit for the question. Okay. What stands out to me is probably, I don’t know, what would you, I should probably prep people more to this question. It’s hard to come off this spot. I’m sorry. Yeah.

[00: 34: 19 – 00: 36: 17]

You kind of asked me what is wealth? What is wealth to me? I will want to know what is success? What is success if you had to sum it up into one word? What is it? You know what I mean? What makes you successful? What is success in one word? You want me to put that in one word there? No, let them ramble. Okay. A little bit to get it out. But yeah, what is success? Okay. And I’ll let them know that question came from this verley. All right. This is this is a wrap. And I guess the last thing is where can people reach you? Like, what’s the best way for people to contact you? They want to set up a consultation or just want to, like, stalk you a little bit online. You know, where can they go? Yeah, so I’m on IG at capital V solution. So it’s capital spelt out C. A. P. I. T. A. L. V. as in Berlin solutions. Also on my website, I set up my website where it’s like a resource, a resource center so they could go in and get information from the IRS updates. Like I said, the calculators on you so many resourceful tools on in my eBooks on you. And if they wanted to go ahead and book with me, they can book. There’s a link on my website at cap. Um, and also my consultations are usually, um, 297 for 30 minutes. Right. However, I’m going to give you a link and I don’t know how you want to share that with your audience, if they came through you, I would go ahead and do 15 minute free consultations to kind of. Yeah. Oh, I love it. When we get gifts. Oh, I need to tell everybody. They need to come with a gift. If you talk about showing, we got to come with a gift for my guests. Well, I love that. Thank you. So everyone free 15-minute consultation. So you better be, you better come correct. You better be buttoned up tight. You better know exactly what you’re going to ask. No rambling. You better use the best 15 minutes ever.

[00: 36: 18 – 00: 37: 41]

But I will put that link in the show notes right at the top of the show notes. So I don’t know if you emailed it to me already, but email it to me. I’ll make sure that it’s the very top of the show notes. So it’s no. confusing what the free consultation link looks like. So thank you very much. I appreciate that. That’s no worries. No worries. And I do have a form, so they’ll fill out a form. That helps me know what we’re gonna talk about in that 15 minutes. Like you said, knock it out. Let’s kind of get an idea if we need to move forward or I need to redirect them somewhere else. Yeah, so the form will be attached to that when they log on and click for the calendar link. Okay, perfect. Okay, well, thank you again so much. This was a wonderful. conversation like I’m really glad that I found you and that you were, you know, open to coming on and sharing information with our listeners. I know they took away like a ton, a ton. And you just say what you mentioned something we need to have a whole another podcast show about what were you talking about? Because there’s something everything we need a whole. Was it the writing off healthcare? No, it was around that time. I don’t know, I think, you know what? I’ll have to just re-listen to the recording and figure it out and we might get you back on and talk about this next topic.

[00: 37: 42 – 00: 38: 48]

I’m always open. You see how fast I responded to you because this information needs to be spread out, right? Yeah. I know what your podcast is about, getting it out to minorities. I probably never heard this, always was told no. So I don’t ever mind sharing, right? as much as I possibly can. Cause I can lead you to the water, but then at that point it’s gonna be up to you to drink it. Exactly, exactly. And that’s the whole premise of the show, right? Information and knowledge is wealth. So that’s why we’re sharing it here. So everyone, thank you again so much for listening to another episode. And I know you got value from it. In that case, please, please like and review, rate, whatever the show so that… are this information can reach more people and it can be spread and a lot more of us can take action and start increasing the level of wealth in our communities and having these conversations be more regular around dinner tables, around the TV, make sure the TV is off, have this conversation instead. But in any case, thank you again, Vee, for joining in with us and everyone, I will see you on the next show. Absolutely, take care and thank you all for listening.

[00: 38: 49 – 00: 39: 14]

Did you love this episode of Share the Wealth Show? Be sure to connect with Nicole by following her on LinkedIn, Instagram, or Facebook. If you picked up any of the gems that were dropped by today’s guest, make sure you not only put them in your bag, but if you know of someone who would benefit from this information, don’t keep it to yourself. Share the wealth, and make sure to leave us a rating and review. We’ll see you for next week’s episode. Subscribe so you’ll be notified.