March 28, 2025 • 48 mins
Your name isn't just what people call you—it's a powerful business entity operating within the complex framework of commerce and tax law. Don Kalam pulls back the curtain on this hidden reality, revealing how treating your name as a legitimate business opens the door to substantial tax credits and refunds that most Americans leave unclaimed.
Starting with the fundamental legal foundation that "the United States means a federal corporation" (28 USC 3002), Don explains how every person exists both as a natural being and as a commercial entity. This dual reality creates opportunities for those who understand how to properly structure their affairs. By creating your name as an LLC owned by a holding company where you serve as manager, you establish a legitimate business identity while limiting liability.
The pathways to substantial tax recovery become clear as Don walks through specific IRS forms designed for claiming various credits. From Net Operating Losses (allowing up to $250,000 in tax offsets for individuals) to education credits, electric vehicle incentives, and business expense deductions, these opportunities exist within the legal framework but remain largely untapped. The Form 1099-INT represents another powerful tool, enabling you to claim interest on everything from bank accounts to utility payments—interest that legally belongs to you as the private investor.
Perhaps most revealing is Don's explanation of how the Social Security Trust Fund owns a significant portion of the US national debt, creating a unique relationship between taxpayers and the system they fund. By understanding this relationship and mastering the distinction between tax avoidance (legal) and tax evasion (illegal), you gain the confidence to properly structure your affairs for maximum benefit.
Ready to transform your relationship with the tax system? The journey begins with recognizing what's already true: your name is a business waiting to be properly structured and managed. What will you do with this knowledge?
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:07):
peace and love, peace and love, peace and love.
You're now rocking to thesounds and vibrations of your
boy, don kalam, also known asmalik kalam, and, as always,
prosperity is your divinebrother right.
Peace and love, peace and love,peace and love.
I'm not a licensed Chinese taxexpert.
I do this for educational,informational purposes only.
(00:34):
We have to do them.
Tax credits, you hear me?
Them tax credits, yeah.
So look, I didn't want to keepy'all waiting, but this is not a
live class.
It's not going to be a liveclass, but we're going to drop
y'all some game.
We're in game.
Anybody has a question?
(00:58):
Drop it in the comments.
I'd be able to Instagramcom.
Underscore legacyd-o-n-k-i-l-a-m.
Underscore l-e-g-a-c-y.
It's right there, donkalamlegacy, I'm gonna drop you on
the major game.
I'm on the road.
I'm still traveling.
(01:18):
I'm doing a lot of differentthings out here.
Lake views, right now in thewhip, you know, no money down.
Well, that's how we rock it,but check this out.
I need everybody to understand,understand and understand.
Your name needs to be abusiness.
Quit procrastinating with this.
You want to learn how to getcredits for your straw man.
(01:43):
You need to learn how to makeyour name a business.
You understand everything iscommerce.
Everything is business.
A person is a corporation.
This is the basics.
If you don't, if you're notunderstanding this, something's
wrong.
You can't move on any further.
That's all I want to put outthere.
(02:07):
I'm going to bring y'all upsome federal codes, just a few,
(02:29):
just a few, just a few, enoughto show you what's going on.
So don't want to do no pumpfaking with y'all.
I'm in the car.
(02:49):
It's hard to see.
I'm about to share the screen.
Oh dude, no pump faking withy'all.
Oh dude, no pump faking withy'all.
(03:10):
Let me go live.
Let me get some game to thepublic Pretty soon.
I ain't gonna be able to donone of this.
Okay, okay, wendy, I heard abang.
(03:47):
Okay, windy, out here today.
Schoolcom slash John Kalon.
Sign up, sign up for the schooltoday.
Sign up for the school today.
(04:07):
Sign up for the school today.
So first things first, yourname is a business.
Understand.
Your name is a business.
Your name is being utilized asa business.
What you think is your name?
It's really a title, it'sreally a vehicle in commerce.
I need everybody to understandand understand that the United
States is a federal corporation.
Alright, vehicle in commerce.
I need everybody to understandand overstand that the United
States is a federal corporation.
(04:27):
All right, we're not going to.
I haven't got there yet, but Iam bringing this code up, so
let's just bring it up now.
United States means federalcorporation.
28.
Usc 3000 to subscription 15A.
United States means a federalcorporation, but USC 3000 to
subscription 15A.
United States means a federalcorporation, but if we scroll up
(04:47):
, we scroll up, we go to 10.
Person includes a natural person, a corporation, a partnership,
an unincorporated association, atrust on a state or any other
public or private entity.
If you understand that theUnited States corporation under
bankruptcy, then corporationscan declare being poor.
(05:08):
They can declare that theycan't pay you back.
Corporations are bankruptCorporations.
There's no real money.
The natural person does havemoney.
Your labor is affordable ofmoney.
So I just need y'all to enterand understand this.
(05:29):
Your labor is the form of moneyIn the private.
It's quid pro quo.
That'd be something forsomething.
Everything is fair exchange.
So if we look at 15, usc 4724 E1, the term United States means a
(05:54):
United States citizen, acorporation, partnership or
other association created underthe laws of the United States or
of any state, including theDistrict of Columbia or any
Commonwealth territory possessedin the United States or a
foreign corporation.
So you got to understand andunderstand how to maneuver
(06:17):
correctly.
So when you come in ajurisdiction, even with these
foreign corporations, if you'renot established correctly with
your private government, yourprivate tribe, your private
family foundation, that's thebest way I like to go.
You're going to be stuck underthese codes.
A United States citizen meansUnited States business, united
States business.
If you're a United Statescitizen, that's United States
business.
(06:38):
That's why they say foreignsversus nationals.
I want everybody to understandthe difference between a
foreigner and a national as well.
But they have everything onlock.
If you don't know what you're,if you don't know what you're
doing, they're going to get youtaxed regardless.
So 8 USC 1408 nationals, but notcitizens of the United States.
(07:00):
So a person born in an outlyingposition in the United
possession of the United Statesor on after person born in an
outlying position in thepossession of the United States
or on after the date of formalacquisition of such possessions.
So if you're born in America,you automatically a national,
but not maybe a citizen.
You become a citizen when youstart signing up with these
documents and these tax forms.
All right, I want you to knowevery court in America is a tax
(07:21):
court.
28 USC 3002, subsection 2.
Court means any court createdby the Congress of the United
States, excluding the UnitedStates Tax Court.
Court means any court createdby the Congress of the United
States, excluding the UnitedStates Tax Court.
So if the court wasn't createdby Congress or the Supreme Court
(07:43):
, then it's the United StatesTax Court.
It's a tax issue.
All debt belongs to the UnitedStates Corporation.
So when you're utilizing theirdocuments a birth certificate,
an ID, social Security card thatbelongs to the United States.
That's how you got into debt inthe first place.
They asked you for your SocialSecurity number.
That's the CISCA by-trust.
I want to bring these up Now.
(08:07):
The book that you're going toneed where I'm going to be going
over a lot of this informationis the Capitalizing Namepreneur
by Don Kalam.
The Capitalizing NamepreneurC-A-P-I-T-A-L-I-Z-I-N-G that is
my own word Unleashing the powerof tax credits.
(08:30):
So how I start the book off isjust understanding the real life
rules of monopoly.
Everything is a monopoly.
I'm going to break this shitdown.
I'm not going to get into depthtonight, but I will do another
live call and get into depth Iwill.
(08:50):
I'm just moving it, grooving itright now.
Got a lot going on Gettingready for the summer and this
event in Chicago, illinois,april 19, 2025.
Now, understanding the straw manname as a special purpose
entity it's one of the commerce,so your name is a business
operating on a bankruptcy andit's a special purpose entity or
(09:11):
a special purpose vehicle.
Alright, that's a bankruptcyremote entity.
Now HJR 192 makes all debtsprepaid.
All debt belongs to the UnitedStates and can be discharged
utilizing the Social Securitynumber.
When you utilize correctly JustGoogle, who owns the United
(09:32):
States national debt, you'llrealize the Social Security
trust fund owns a significantportion of the United States
debt.
So they're running underbankruptcy law.
But a lot of people are usingfederal code statutes.
This is contract law.
That's the only way they canoperate is contracting with you
because they're under bankruptcy.
So you must know how tomaneuver correctly under trust
(09:55):
law and contract law, becauseall contract law is trust law.
So the Social Security trustfunds, the Social Security has
trust funds.
It's just credit.
You got to learn how to accessthese correctly.
Making your name a business allright.
The best form I like to utilizeis making my name an LLC owned
by a holding company.
I don't like the word ownership.
(10:16):
Ownership means liability andobligations.
So it's owned up to controleverything.
But first things first, youshould create your own tax firm,
llc, like H&R Block, somethinglike that, to limit your
liability and obligation.
Then you get something called aPTIF, a personal tax
(10:40):
identification number Okay, apersonal tax identification
number Okay, a personal taxidentification number, a PTIN,
and then from there, the higheststatus Google this.
The highest status the IRShands out is called an enrolled
agent.
You want to become an enrolledagent, and the average person
(11:02):
can do that, and enrolled agentshave the same type of benefits
in the system as an attorney orCPA, which is a certified
accountant okay, a certifiedpublic accountant.
So once you get these things inorder, there's no need to fear
when doing these things, becauseI need y'all to understand.
In order to administer thepublic trust, you need to
(11:23):
understand how to become anadministrator.
You need to learn bookkeeping,you need to learn accounting All
right, that's first thing.
You need to learnadministration, administration
of these documents and contractsAll right.
When you learn how to maneuveras a government or a family
tribe, anyways, or even a church, then you understand that all
(11:45):
taxes are due to you Tied 10%,you got to move like they move
and a lot of people.
That's not what y'all do,that's not what a lot of people
are doing.
You got to move just like them.
All right, I'm going to get tothe good shit now.
(12:13):
So say you know, you got yourpersonal tax identification
number, your PTIN.
That's the place.
If you don't want to become anenrolled agent, that's okay, you
can stop there.
But becoming an enrolled agent,that's okay, you can stop there
.
But becoming an enrolled agent,let me show y'all because seeing
this, believers sometimes,sometimes you need to see it
with your own eyes.
I'm going to read it verbatim.
(12:43):
I'm going to read it back toy'all.
I'm going to read it verbatim.
I'm going to read it back toy'all.
I'm going to read back what itsays about enrolled agent status
.
Enrolled agent status because wetalk about status correction
right.
Enrolled agent status, thestatus, standing, identity
status and standing.
They identify you.
That shows what your status isand the status shows what you
(13:05):
have standing for, which is yourrights.
So enrolled agent status is thehighest credential to IRS
awards.
Individuals who obtain theelite status it's an elite
status now must adhere toethical standards and complete
72 hours of continuing educationcourses every three years.
Enrolled agents, like attorneysand certified public accountants
, have unlimited practice rights.
You can practice unlimitedly.
Enrolled agents, like attorneysand certified public
(13:26):
accountants, have unlimitedpractice rights.
You can practice unlimitedly.
Attorneys can practiceunlimitedly.
You have public practice.
You have private practice.
It's called their craft.
I'm not going to get too deepwith y'all, but these are things
you must understand andoverstand before you start
filing for credits.
All right, just had to showy'all that.
(13:50):
Enroll the agent status, openup a tax firm, open up a holding
company.
The holding company will be thesingle member of your name.
Create your name as an LLC or abusiness and the holding
company will be the singlemember.
(14:10):
And then you will be themanager.
You will be the manager.
Peace and love, peace and love.
You will be the manager of theholding company.
And then I'm not going to gettoo deep on the private banking
side with private trust, livingtrust, irrevocable trust and
(14:31):
revocable trust.
We're not going to get too deepon that today.
I'm just going to show y'allhow to get these tax credits
back, making your name abusiness.
All right, your hands are cleanalways.
You're never liable.
(14:52):
I got about 30 minutes.
I got to drop you all thissauce.
You hear me.
So let's get straight to itFirst of all.
First of all.
First of all, you can look upwhat an NOL is of a business.
So you understand.
Your name is a business.
Now, okay, your name is abusiness.
(15:12):
I can even ask these people outhere walking, but I'm big class
, what's up?
What's up?
(15:34):
You know your name's a business.
I do Is your name an LLC?
Yet I'm on the window up.
What's up?
You good, you want to spraySpray right there?
All right, talk to you laterBack in class.
(16:01):
I'll be down in about 30 minutes, all right, all right.
All right, back to class.
Back to class, man, all right.
So I'm about to show y'allwhat's good.
I'm going to get down to thenitty gritty.
(16:28):
I'm going to move fast.
Take notes.
I'm on the Congress website too.
(16:48):
I'm sharing my screen witheverybody and the Zoom.
So look, tax treatment and netoperating losses.
Alright, this is during COVID,right here, but this is the
temporary revisions.
It's still good, all right,these are still what's going on
(17:12):
to this day.
So when you zoom in, so when afirm has a loss, a net operating
loss or NOL, taxes are notreduced immediately beyond zero.
Rather, the business owes noincome taxes in that tax year
and the loss can be carriedforward indefinitely.
So indefinitely their lossesare carried forward In
subsequent years.
(17:33):
The NOL can be used to reduceup to 80% of taxable income,
reducing taxes in the future.
Individual taxpayers' lossesthat can be offset against
non-business income are limitedto $500,000 for joint ventures,
that's two or more, or $250,000for single returns.
So every single return for yourbusiness you can write up to
$250,000 off in taxes anddeductions and get that tax
(17:56):
credit back.
So carrybacks and losses yieldimmediately tax reductions while
carry forward reduce future taxliabilities.
There were no dollar limits onthe loss offsets for individuals
, so I'm just throwing out there.
You can write off and you canget these back as tax credits If
you understand business.
(18:17):
I know a lot of y'all are notunderstanding this.
So let's get to the nittygritty.
Let's get to the nitty gritty,let's get to the nitty gritty.
Let me go ahead and keep thisshare screen up for y'all.
I'm going to show y'all how toget this back.
I'm going to show y'all thebasics.
You can tap in with your boy todo the rest.
(18:43):
All right, here's one form Form1045.
And I do assist people in doingthis.
(19:05):
All right, I do assist people.
Just hit me up.
We can write this all for you,show you how to do this.
I'll do your whole business foryou.
You have the receipts, you gotthe bank statements.
Whatever it may be, we can talkman, book a consultation.
This one's going to be $2,000.
We'll help you from A to Z,$2,000 and catch something on
the back.
Can you feel me?
(19:26):
So look, the form 1045 is theapplication for tentative refund
.
This form is used if you wantto carry back your net operating
loss to obtain a quick refundfor taxes paid in prior years.
It generally must be filed withone year of the end of the tax
year in which the NOL occurred.
So your net operating loss.
This is how you get your quickrefund.
Application for tentativerefund Form 1045.
(19:48):
I'm going to say it again Form1045.
This is game right here.
A 1045 will get you that netoperating loss and come back All
right, quick and in a hurry.
Now, next, now, next, now next.
Give me all game for the lowtoo.
(20:10):
If you understand it, tell yourtaxpayer to do it.
I got CPAs for you.
You don't want to do ityourself?
I'll let you.
Boy, I got people ready.
Man, I'm in the business ofgetting people rich.
You feel me, I'm in thebusiness of getting back what's
due to you.
(20:30):
Now, look, here's the next formCorporation application for
tentative refund.
Here's the next one Form 1139.
Give me your game.
Form 1139.
Corporation application fortenant refund.
If your business is acorporation and you use this
form instead of the 1045 for thesame purpose.
(20:52):
So you use this for theunincorporated associations, you
use this for the corporations,the other ones for the LLC's.
You feel me.
You feel me.
Now, that's game.
Game right there.
(21:18):
Now, next, I'm not going to getdeep in what you need to do, but
if you file a 1040 form, youneed to file a 1040X to amend
the forms.
All right, to amend your taxreturns.
So it's not too late.
If you already filed your taxes, it's not too late.
So what you want to do is filea 1040X that amends your US
individual tax return.
You got 1041X if it's a trust.
(21:39):
1120x is amended corporationincome tax return if it's for
the company Um.
1120 X is amended corporationincome tax return if it's for
the company Um.
So the schedule a of form 1045or 1131, 1139, I mean the
schedule a.
This is the schedule used tocompute the NOL and to detail
any carryover care backadjustments.
(22:00):
So you're going to put you'regoing to put back the
adjustments and how you even gotthe NOL and the Schedule 8.
Then you attach your 1040 orbusiness tax returns.
Your standard tax returns willbe used to report the net
operating loss and any carryoverto future tax years.
Attach a statement whencarrying forward the NOL the net
operating loss you're going towant to attach a statement to
(22:22):
your tax return outlining yourcalculation of the NOL.
So boom, here's this business.
So I like to use bankstatements.
Listen, tap in with your boy.
I'll show you how to make theseyourself.
I'll show you how to make themyourself.
It's pretty simple.
It's pretty simple.
It's quick and easy, like myex-girlfriend.
(22:43):
Now, this isn't in the book, butwe will be going over what's in
the book.
I just want y'all to go.
Y'all should check out the book.
There's a lot of things.
It shows you education, taxcredits.
It shows you how to get yourmonthly bills paid, remittance
programs, the 1099 OID, the 1099INTID, the 1099-INT.
(23:05):
So check out the CapitalizingName for Newer all right, by Don
Calau.
It's a great book.
Now what I'm going to show youand go over is so, first of all,
irs, education.
Irs gives you credits foreducation, all right, irs gives
you credits for education, allright.
Now, this is why families it'sthe 8863.
(23:32):
This is why families send theirkids to private schools because
they get the credits back.
All right, 8863.
And then I'm going to get evenfurther, for everybody who
understands understands on adifferent level.
So the form 8863 is theeducation credits.
(23:54):
You pay for this class.
You pay for Instagram to learn.
You pay for YouTube.
You pay for cable, you pay forbooks, you pay for a private
education.
Form 8863 is the education taxcredits.
You can even get tuition back.
You can for a private education.
Form 8863 is the education taxcredit.
You can even get tuition back.
You can even run off yourtuition.
Alright, I'm showing that it's areal form.
I'm showing that it's a realform.
(24:15):
These are the forms that needto be filed.
So, when you have, when youunderstand the bonds, form 8912
is designed for you to claimcredits for holding qualified
(24:36):
tax bonds.
All right, including cleanenergy, school conduction,
education, all these differenttypes of all the bonds that you
hold.
(25:01):
Now, a form 4461.
This form is you determine ifthe business loss exceeds limits
set by the IRS rules All right.
So if you got anything thatgoes outside of 250,000 per
individual or 500,000, you'regoing to file the form 461 to
get more credits.
(25:21):
You know they might want toaudit anything after that.
Just thought I'd throw that outthere.
These are the forms that we usein our everyday lives on our
unincorporated associations, ourprivate faith-based
organizations, our trusts.
These are the forms that we'refiling and then using our name
as a business.
So the form 4562 depreciationand mortalization alright.
(25:52):
This form is used to claimdeductions related to
depreciation of vehicles usedfor business purposes, or even
say you got an Airbnb oranything that depreciates in
value for the business on form4562.
And then you get to write thisoff as a tax credit.
All right.
You get to write off companyrent, company expenses All right
(26:17):
.
When it comes to the business,you can use a form 1120 for
multi-member LLCs.
We'll use a form 1065.
Corporations use 1120 formulti-member LLCs will use a
form 1065.
Corporations use 1120,.
Llcs use a 1065.
Now the deductions that you canwrite off.
Okay, let me go on the book.
Before I get even deeper, letme just pull some shit up in the
(26:39):
book so y'all can see.
This is in the book.
I don't want to keep y'all fromwhat's in the book, but the
Capitalizing Entrepreneur it's agreat book shows you how to get
those tax credits for yourstraw man.
So a 1099-INT is also a greatway.
(27:03):
I might hit that before we getoff.
All right, so we got Form 3800.
This is everything that's inthe book.
Right here we got home officedeductions, schedule H,
self-employment tax deductions,health insurance deductions,
education and training expenses.
There was always deductions,work opportunity tax credits all
(27:25):
for your business.
Make your name a business.
Form 3800 is a good form, allright, let me show y'all what
that looks like.
General business credits.
We do file these for sure.
Form 3800 is a general businesscredit form.
(27:48):
All right, that's healthinsurance, claiming health
insurance.
You can.
If you got health insurance,you can claim that.
You give yourself healthinsurance.
You can claim that.
Make your name a business.
I'm trying to tell you when yousay you work from home, there's
(28:14):
so many tax benefits.
I'm just not going, I'm notgoing to go deep into them today
.
I'm just throwing out therewhat you could be using studying
on your own.
Form 940 as well.
We do sick pay on that Form4852, that's how you claim your
get your federal credits back,anything you work for.
You know what I mean Medicare,fica, all that shit back the
(28:37):
last three to five years.
Form 5842.
4852.
All right, now there's car howto claim the credits back for
the car.
There's different ways.
If you have an electric vehicle, you can file the form.
(28:59):
You can file in on the form3800, the general business
credit.
Or you can file the 8834, whichis the electric car credit.
All right, electric car creditsform 8834.
The IRS does have a form justfor electric cars.
8834.
Qualified electric vehiclecredit.
If you can plug it in, you canfile a credit on it.
(29:20):
That's crazy, ain't it Crazy,right?
Let me just show y'all the formso y'all know it's real on it.
That's crazy, ain't it Crazy,right?
Let me just show y'all the formso y'all know it's real.
Form 8834.
Qualified electric vehiclecredits.
Just showing y'all what's up.
Well, I was filed under the3800.
You can file your cars underthe 3800.
I hope somebody get over$20,000 back for a regular ass
car he only paid $2,500 for, sohe was so grateful for this
(29:44):
information.
Ass car he only paid $2,500 forit, so he was so grateful for
this information.
Some cars get handed downthrough the family.
It's part of the family trust.
You retile it until your nameLLC.
We can get you those credits.
A form 9061.
So these are tax creditpre-screening Shows you how to
(30:07):
do it all.
Sick pay on 941.
How to report sick pay,claiming tax credits, employee
retention credits.
I'm going to keep going down mylist, man, because I don't want
to keep running out of time.
(30:27):
I want you all to know that's agreat book to get.
Now.
With the 1099-INT, you'reclaiming interest on all these
accounts that you have opened inthe public, whether it be a
utility company, credit cardcompany, you always have
interest in these things.
They use your social securitytrust, which is a trust.
Everything's already paid for,so everything is interest.
(30:48):
You are the main privateinvestor and a lot of people
don't know this.
So you can write off your rent,mortgage utilities.
If you have salaries and wagesfor employees or you're
(31:08):
contracting supplies andmaterial, office supplies, raw
material, cars, whatever it maybe, advertising, marketing you
can write this off.
Travel expenses it's awrite-off.
Business travel, business meals, lodging, transportation, all
meals and meals andentertainment business related
(31:29):
meals, subject to certain limits, entertainment as well.
You're traveling, soentertainment?
You can write off entertainmentas part of a a package deal for
your employees.
Because you work for yourself,you understand insurance
premiums for businesses, such asliability, property or health
insurance for employees.
It's all a write-off.
Interest on business loans orcredit lines, write-off
(31:50):
Depreciation I told you aboutthat.
Depreciation of business assetslike vehicles, machinery or
equipment, repairs andmaintenance is a write-off.
Education and training, like Istated, is a write-off, long as
it's for business improvement.
All taxes are write-offs.
You should know that, but youcan try to stay away from those.
It's tax avoidance versus taxevasion.
(32:12):
Tax evasion is illegal.
Tax evasion is illegal.
Tax avoidance is perfectlylegal.
We're setting up entities to betax-free.
Alright, if you contribute toemployee retirement plans,
health insurance and otherbenefits, this is a write off.
That means you write off asemployee benefits.
(32:34):
Commission fees to agents,brokers, their contractors and
all office expenses are always awrite off.
Alright, contractors and alloffice expenses are always a
write-off.
All right, all office expenses.
I'm telling you.
You reach out to me.
I got people who do ScheduleH's.
(32:56):
Help you with Schedule H, makeyour name a business, home
office, business, home officewrite-offs all right, get
$100,000, $200,000 back easy.
That's what I'm seeing on eyes.
Now, if you're trying to movelow key with your business and
get and maneuver correctly andstay out the uh public's eye
with taxes, you want to.
You want to do a faith-basedorganization, faith-based
(33:20):
organization and you want tolearn what a stipend is.
A stipend is a fixed sum ofmoney paid periodically, used to
cover specific expenses orsupplement income without being
tied directly to hours ofperformance.
Common types of stipends arefor education or training,
stipends to cover the cost ofcourses and professional
development.
Technology stipends toreimburse employees for
(33:43):
purchasing required technologiessuch as computers or software.
Communing stipends foremployees' travel expenses.
Wellness stipends for gymmemberships.
Remote work stipends to helpemployees setting up their home
office.
Payment structure monthly,quarterly or annually, depending
on the purpose.
Now, employees might need tosubmit receipts or proof of
(34:08):
expenses.
Depending on the nature,stipends could be taxable income
or not.
It's important to consult withtax regulations.
The way I maneuver, I don't dotaxable stipends.
All right, now understand what afringe benefit is.
We do stipends and fringebenefits.
A fringe benefit are additionalcompensation offered to
employees, which can includeboth monetary and non-monetary
perks Health insurance is afringe benefit, retirement plans
(34:33):
, paid time off, company car orvehicle allowance, stock options
or equity, child careassistance, tuition
reimbursement these are allforms of fringe benefits most
(34:53):
board members can be.
You can be paid using stipends,all right, and having a plan
with it.
So, with understanding theoverstanding this, this is tax
evasion versus tax avoidance.
I understand tax evasion is alegal practice not paying taxes
owed to the government.
Tax avoidance is the legalpractice of structuring your
(35:17):
financial affairs to minimizeyour tax liability using methods
approved by law.
So this is the importance oftrust in estate planning.
To learn, most wealthy peopleuse insurance correctly.
This is how they use insuranceFor tax avoidance.
(35:39):
So there's still ways to get theERC out there still.
I know people still gettingthat.
We're going to go over the1099-INT.
I want you to see that before Iclose out.
But education tax credits getit back.
Doc and law books you can getthat back.
The form 8863 is used tocalculate and claim your
(36:02):
education credits, which includeAmerican Opportunity Credit and
the Lifetime Learning Credit.
Then you got energy tax credits.
The Residential EnergyEfficient Property credit is a
tax credit for homeowners whomake energy efficient updates.
You get to write that off andget a credit back if you're
(36:25):
doing anything to conserveenergy.
The form 5695 is used tocalculate and claim residential
energy credits.
The form 5695 is used tocalculate and claim residential
energy credits.
If you want to get investmentcredits as an investor, you know
(36:48):
that you're the investor, theprivate investor, you're
investing in that name, whateverit may be.
You fill out the IRS form 3468for anything investment,
investment related.
It's really that simple.
When you start learning how totell the IRS what to do, because
(37:15):
they're the tax experts, youjust tell them what to do.
Because they're the tax experts, you just tell them what to do.
You send them the letters, yousend them the forms to fill out.
Now, when you learn aboutinterest income, I need you to
know.
Anything that you deposit inyour bank, your bank account,
they invest it.
You're always the privateinvestor.
Anything you invest in yourbank, your bank account, they
(37:35):
invest it.
You're always the privateinvestor.
Anything you invest in yourbank, your bank invests it all
the way.
Look it up it's calledfractional banking.
So who can file a form 1099-INT?
Interest income Amounts paid totaxpayers that must be reported
on a 1099-INT include intereston bank deposits anything over
$10.
Financial institutions reportedon the 1099-INT include
(37:56):
interest on bank depositsanything over $10.
Financial institutions,including banks and brokerage
firms, must issue Form 1099-INTfor interest exceeding $10 paid
in a given year.
They can only, they only keep10% of the money you put in the
bank or whatever company you'reutilizing, whether it's a bank,
(38:17):
whether they owe you a dividendcheck, whether it's a deposit
account.
I need y'all to understand ifthey're sending you coupons,
these are coming from depositaccounts.
What I mean by coupon, a zerocoupon bond, that's what your
utility bill is.
So if it's anything over $10,they must issue 1099-INT.
But they're not going to sendit to you because you didn't
request it.
You done signed over yourpowers of attorney.
(38:38):
Accumulated dividends paid by alife insurance company.
We need a 1099-INT Indebtednessissued in registered forms of
type offered to the public, suchas bonds, debt nears, notes and
certificates other than thoseof the US Treasury, amounts from
which federal income tax orforeign tax was withheld.
(38:59):
So if you had a withholding onyour check, 1099-int, that is a
bank account, that's aninvestment account.
If you got a real estatemortgage 1099-INT, they owe you
interest.
It's interest secured.
You're filling out.
You got bills every day, billsevery day.
(39:21):
You get bills in the mail everyfreaking day.
They owe you a 1099-INT, youhave to request that, so.
Form 1099-INT is a tax formissued by interest-paying
(39:42):
entities, such as banks,investment firms and other
financial institutions, totaxpayers who receive interest
income of $10 or more.
The information recorded on theform must be reported to the
IRS, who must file the form1099-INT.
Form 1099-INT must be filed byany entity that pays interest,
such as banks, brokerages,investment firms, mutual funds
and other financial institutions.
They must file the form toanyone who receives interest
(40:04):
income of at least $10 when theywithhold and pay foreign taxes
on interest and whenever theissuer withholds federal income
tax without refunding.
One copy must be sent to theIRS and another to the taxpayer.
If anybody took federal taxesout from you and didn't refund
it to you because federal taxesare a loan, a lot of people
don't understand this.
This is when I tell you aboutthe United States national debt.
(40:27):
This is the best way to do it.
This is the best way to get alot of that money back.
Who owns the US national debt?
The Social Security Trust Fundowns a significant portion of
the US national debt, but howdoes that work and what does it
(40:48):
mean?
In addition to agencies likethe Social Security Trust Fund.
Various other entities includeforeign governments, domestic
investors and other federalreserves hold substantial
amounts of the debt.
This is what they owe the public.
I'm about to show you.
I'm about to show you.
I'm about to show you.
I'm about to screen shareeverybody.
I'm about to show my IG family.
This is what they owe thepublic.
(41:10):
Federal income tax are a loan.
This is why they owe you myhair by the lake, by the way.
Y'all see it.
Y'all see it.
This is what they owe you.
Though.
24 and a half trillion SocialSecurity Trust Funds owns a
(41:32):
significant portion of the USnational debt.
I'm just showing y'all ways.
There's no Listen.
Make your name a business, likeI told everybody.
I've been telling everybodysince 2016,.
17 in the public.
Make your name a business.
The Social Security Trust Fundis a SESC-K-VI trust.
(41:53):
Sesc-k by use is only set upfor beneficiaries.
That's, beneficiary use thesophisticated by the beneficiary
of a trust on insurance policy.
So the beneficiary will alwaysbe taxed.
Only trustees hold power.
You can never be the trustee.
You can only and with theSocial Security Trust, you can
(42:15):
only choose your administration.
You can only choose yourtrustees.
You can do nothing else.
As a beneficiary, you're alwaysliable for the tax.
Learn how to not be a descendanta descendant of a taxpayer.
Learn how to keep yournationality intact.
Quit saying you're a US citizen, like I started off.
Quit saying you're a partisan,like I started off.
The full class.
Make your name a business,operate as a natural living
(42:37):
being and you're doing commercewith a trade name.
Learn how to trademark yourname and signature.
Learn how to make this part ofthe family organization the
private family ministry, allright.
The private family association,all right.
That that's how we operate inthe public under our private
family organizations, ourprivate member associations, our
private family organizations,our 508 C1As our unincorporated
(43:00):
associations, all right.
That's who's going to hold thebeneficial interest to your
intellectual property and thisis what everybody needs to
understand and understand so youcan go back and claim these tax
credits for your strongman.
That's where it's at Tappingwith your boy, don Kalam $2,000.
We'll do it for you.
You just want to talk about it.
It'll be $1,000, man, I'll giveyou an hour consult for both,
(43:21):
but $2,000 will get this donefor you, this process done for
you.
Make sure your name becomes abusiness.
But We'll show you how to getall these blanks filled in for
you and get these taxdeductibles.
Get the net operating loss$250,000 per person.
You got a joint venture.
We can get up to 500,000 back.
You got Airbnbs, whatever itmay be in your life.
(43:43):
I'm going to show you how todepreciate these things and get
these tax credits back, becauseyou know, as time goes forward,
the cost of living rises, soeverybody has a depreciation.
That's what the fuck it's about, man, I gave you all the game,
though that was the wholemotherfucking game.
Tap into the school if you'renot part of the school, and get
the tax webinar class.
(44:03):
I will be doing a live webinar.
I'm not sure when it's going tobe.
I was trying to do it today.
It's a holiday for me too.
314 day.
I'm just everywhere right now.
I apologize, and I appreciatemy loyal supporters.
Man, with that, I'm out, though.
Much peace and love.
peace and love, peace and love, peace and love.
You're now rocking to thesounds and vibrations of your
boy, don kalam, also known asmalik kalam, and, as always,
prosperity is your divinebrother right.
Peace and love, peace and love,peace and love.
I'm not a licensed Chinese taxexpert.
I do this for educational,informational purposes only.
(00:34):
We have to do them.
Tax credits, you hear me?
Them tax credits, yeah.
So look, I didn't want to keepy'all waiting, but this is not a
live class.
It's not going to be a liveclass, but we're going to drop
y'all some game.
We're in game.
Anybody has a question?
(00:58):
Drop it in the comments.
I'd be able to Instagramcom.
Underscore legacyd-o-n-k-i-l-a-m.
Underscore l-e-g-a-c-y.
It's right there, donkalamlegacy, I'm gonna drop you on
the major game.
I'm on the road.
I'm still traveling.
(01:18):
I'm doing a lot of differentthings out here.
Lake views, right now in thewhip, you know, no money down.
Well, that's how we rock it,but check this out.
I need everybody to understand,understand and understand.
Your name needs to be abusiness.
Quit procrastinating with this.
You want to learn how to getcredits for your straw man.
(01:43):
You need to learn how to makeyour name a business.
You understand everything iscommerce.
Everything is business.
A person is a corporation.
This is the basics.
If you don't, if you're notunderstanding this, something's
wrong.
You can't move on any further.
That's all I want to put outthere.
(02:07):
I'm going to bring y'all upsome federal codes, just a few,
(02:29):
just a few, just a few, enoughto show you what's going on.
So don't want to do no pumpfaking with y'all.
I'm in the car.
(02:49):
It's hard to see.
I'm about to share the screen.
Oh dude, no pump faking withy'all.
Oh dude, no pump faking withy'all.
(03:10):
Let me go live.
Let me get some game to thepublic Pretty soon.
I ain't gonna be able to donone of this.
Okay, okay, wendy, I heard abang.
(03:47):
Okay, windy, out here today.
Schoolcom slash John Kalon.
Sign up, sign up for the schooltoday.
Sign up for the school today.
(04:07):
Sign up for the school today.
So first things first, yourname is a business.
Understand.
Your name is a business.
Your name is being utilized asa business.
What you think is your name?
It's really a title, it'sreally a vehicle in commerce.
I need everybody to understandand understand that the United
States is a federal corporation.
Alright, vehicle in commerce.
I need everybody to understandand overstand that the United
States is a federal corporation.
(04:27):
All right, we're not going to.
I haven't got there yet, but Iam bringing this code up, so
let's just bring it up now.
United States means federalcorporation.
28.
Usc 3000 to subscription 15A.
United States means a federalcorporation, but USC 3000 to
subscription 15A.
United States means a federalcorporation, but if we scroll up
(04:47):
, we scroll up, we go to 10.
Person includes a natural person, a corporation, a partnership,
an unincorporated association, atrust on a state or any other
public or private entity.
If you understand that theUnited States corporation under
bankruptcy, then corporationscan declare being poor.
(05:08):
They can declare that theycan't pay you back.
Corporations are bankruptCorporations.
There's no real money.
The natural person does havemoney.
Your labor is affordable ofmoney.
So I just need y'all to enterand understand this.
(05:29):
Your labor is the form of moneyIn the private.
It's quid pro quo.
That'd be something forsomething.
Everything is fair exchange.
So if we look at 15, usc 4724 E1, the term United States means a
(05:54):
United States citizen, acorporation, partnership or
other association created underthe laws of the United States or
of any state, including theDistrict of Columbia or any
Commonwealth territory possessedin the United States or a
foreign corporation.
So you got to understand andunderstand how to maneuver
(06:17):
correctly.
So when you come in ajurisdiction, even with these
foreign corporations, if you'renot established correctly with
your private government, yourprivate tribe, your private
family foundation, that's thebest way I like to go.
You're going to be stuck underthese codes.
A United States citizen meansUnited States business, united
States business.
If you're a United Statescitizen, that's United States
business.
(06:38):
That's why they say foreignsversus nationals.
I want everybody to understandthe difference between a
foreigner and a national as well.
But they have everything onlock.
If you don't know what you're,if you don't know what you're
doing, they're going to get youtaxed regardless.
So 8 USC 1408 nationals, but notcitizens of the United States.
(07:00):
So a person born in an outlyingposition in the United
possession of the United Statesor on after person born in an
outlying position in thepossession of the United States
or on after the date of formalacquisition of such possessions.
So if you're born in America,you automatically a national,
but not maybe a citizen.
You become a citizen when youstart signing up with these
documents and these tax forms.
All right, I want you to knowevery court in America is a tax
(07:21):
court.
28 USC 3002, subsection 2.
Court means any court createdby the Congress of the United
States, excluding the UnitedStates Tax Court.
Court means any court createdby the Congress of the United
States, excluding the UnitedStates Tax Court.
So if the court wasn't createdby Congress or the Supreme Court
(07:43):
, then it's the United StatesTax Court.
It's a tax issue.
All debt belongs to the UnitedStates Corporation.
So when you're utilizing theirdocuments a birth certificate,
an ID, social Security card thatbelongs to the United States.
That's how you got into debt inthe first place.
They asked you for your SocialSecurity number.
That's the CISCA by-trust.
I want to bring these up Now.
(08:07):
The book that you're going toneed where I'm going to be going
over a lot of this informationis the Capitalizing Namepreneur
by Don Kalam.
The Capitalizing NamepreneurC-A-P-I-T-A-L-I-Z-I-N-G that is
my own word Unleashing the powerof tax credits.
(08:30):
So how I start the book off isjust understanding the real life
rules of monopoly.
Everything is a monopoly.
I'm going to break this shitdown.
I'm not going to get into depthtonight, but I will do another
live call and get into depth Iwill.
(08:50):
I'm just moving it, grooving itright now.
Got a lot going on Gettingready for the summer and this
event in Chicago, illinois,april 19, 2025.
Now, understanding the straw manname as a special purpose
entity it's one of the commerce,so your name is a business
operating on a bankruptcy andit's a special purpose entity or
(09:11):
a special purpose vehicle.
Alright, that's a bankruptcyremote entity.
Now HJR 192 makes all debtsprepaid.
All debt belongs to the UnitedStates and can be discharged
utilizing the Social Securitynumber.
When you utilize correctly JustGoogle, who owns the United
(09:32):
States national debt, you'llrealize the Social Security
trust fund owns a significantportion of the United States
debt.
So they're running underbankruptcy law.
But a lot of people are usingfederal code statutes.
This is contract law.
That's the only way they canoperate is contracting with you
because they're under bankruptcy.
So you must know how tomaneuver correctly under trust
(09:55):
law and contract law, becauseall contract law is trust law.
So the Social Security trustfunds, the Social Security has
trust funds.
It's just credit.
You got to learn how to accessthese correctly.
Making your name a business allright.
The best form I like to utilizeis making my name an LLC owned
by a holding company.
I don't like the word ownership.
(10:16):
Ownership means liability andobligations.
So it's owned up to controleverything.
But first things first, youshould create your own tax firm,
llc, like H&R Block, somethinglike that, to limit your
liability and obligation.
Then you get something called aPTIF, a personal tax
(10:40):
identification number Okay, apersonal tax identification
number Okay, a personal taxidentification number, a PTIN,
and then from there, the higheststatus Google this.
The highest status the IRShands out is called an enrolled
agent.
You want to become an enrolledagent, and the average person
(11:02):
can do that, and enrolled agentshave the same type of benefits
in the system as an attorney orCPA, which is a certified
accountant okay, a certifiedpublic accountant.
So once you get these things inorder, there's no need to fear
when doing these things, becauseI need y'all to understand.
In order to administer thepublic trust, you need to
(11:23):
understand how to become anadministrator.
You need to learn bookkeeping,you need to learn accounting All
right, that's first thing.
You need to learnadministration, administration
of these documents and contractsAll right.
When you learn how to maneuveras a government or a family
tribe, anyways, or even a church, then you understand that all
(11:45):
taxes are due to you Tied 10%,you got to move like they move
and a lot of people.
That's not what y'all do,that's not what a lot of people
are doing.
You got to move just like them.
All right, I'm going to get tothe good shit now.
(12:13):
So say you know, you got yourpersonal tax identification
number, your PTIN.
That's the place.
If you don't want to become anenrolled agent, that's okay, you
can stop there.
But becoming an enrolled agent,that's okay, you can stop there
.
But becoming an enrolled agent,let me show y'all because seeing
this, believers sometimes,sometimes you need to see it
with your own eyes.
I'm going to read it verbatim.
(12:43):
I'm going to read it back toy'all.
I'm going to read it verbatim.
I'm going to read it back toy'all.
I'm going to read back what itsays about enrolled agent status
.
Enrolled agent status because wetalk about status correction
right.
Enrolled agent status, thestatus, standing, identity
status and standing.
They identify you.
That shows what your status isand the status shows what you
(13:05):
have standing for, which is yourrights.
So enrolled agent status is thehighest credential to IRS
awards.
Individuals who obtain theelite status it's an elite
status now must adhere toethical standards and complete
72 hours of continuing educationcourses every three years.
Enrolled agents, like attorneysand certified public accountants
, have unlimited practice rights.
You can practice unlimitedly.
Enrolled agents, like attorneysand certified public
(13:26):
accountants, have unlimitedpractice rights.
You can practice unlimitedly.
Attorneys can practiceunlimitedly.
You have public practice.
You have private practice.
It's called their craft.
I'm not going to get too deepwith y'all, but these are things
you must understand andoverstand before you start
filing for credits.
All right, just had to showy'all that.
(13:50):
Enroll the agent status, openup a tax firm, open up a holding
company.
The holding company will be thesingle member of your name.
Create your name as an LLC or abusiness and the holding
company will be the singlemember.
(14:10):
And then you will be themanager.
You will be the manager.
Peace and love, peace and love.
You will be the manager of theholding company.
And then I'm not going to gettoo deep on the private banking
side with private trust, livingtrust, irrevocable trust and
(14:31):
revocable trust.
We're not going to get too deepon that today.
I'm just going to show y'allhow to get these tax credits
back, making your name abusiness.
All right, your hands are cleanalways.
You're never liable.
(14:52):
I got about 30 minutes.
I got to drop you all thissauce.
You hear me.
So let's get straight to itFirst of all.
First of all.
First of all, you can look upwhat an NOL is of a business.
So you understand.
Your name is a business.
Now, okay, your name is abusiness.
(15:12):
I can even ask these people outhere walking, but I'm big class
, what's up?
What's up?
(15:34):
You know your name's a business.
I do Is your name an LLC?
Yet I'm on the window up.
What's up?
You good, you want to spraySpray right there?
All right, talk to you laterBack in class.
(16:01):
I'll be down in about 30 minutes, all right, all right.
All right, back to class.
Back to class, man, all right.
So I'm about to show y'allwhat's good.
I'm going to get down to thenitty gritty.
(16:28):
I'm going to move fast.
Take notes.
I'm on the Congress website too.
(16:48):
I'm sharing my screen witheverybody and the Zoom.
So look, tax treatment and netoperating losses.
Alright, this is during COVID,right here, but this is the
temporary revisions.
It's still good, all right,these are still what's going on
(17:12):
to this day.
So when you zoom in, so when afirm has a loss, a net operating
loss or NOL, taxes are notreduced immediately beyond zero.
Rather, the business owes noincome taxes in that tax year
and the loss can be carriedforward indefinitely.
So indefinitely their lossesare carried forward In
subsequent years.
(17:33):
The NOL can be used to reduceup to 80% of taxable income,
reducing taxes in the future.
Individual taxpayers' lossesthat can be offset against
non-business income are limitedto $500,000 for joint ventures,
that's two or more, or $250,000for single returns.
So every single return for yourbusiness you can write up to
$250,000 off in taxes anddeductions and get that tax
(17:56):
credit back.
So carrybacks and losses yieldimmediately tax reductions while
carry forward reduce future taxliabilities.
There were no dollar limits onthe loss offsets for individuals
, so I'm just throwing out there.
You can write off and you canget these back as tax credits If
you understand business.
(18:17):
I know a lot of y'all are notunderstanding this.
So let's get to the nittygritty.
Let's get to the nitty gritty,let's get to the nitty gritty.
Let me go ahead and keep thisshare screen up for y'all.
I'm going to show y'all how toget this back.
I'm going to show y'all thebasics.
You can tap in with your boy todo the rest.
(18:43):
All right, here's one form Form1045.
And I do assist people in doingthis.
(19:05):
All right, I do assist people.
Just hit me up.
We can write this all for you,show you how to do this.
I'll do your whole business foryou.
You have the receipts, you gotthe bank statements.
Whatever it may be, we can talkman, book a consultation.
This one's going to be $2,000.
We'll help you from A to Z,$2,000 and catch something on
the back.
Can you feel me?
(19:26):
So look, the form 1045 is theapplication for tentative refund
.
This form is used if you wantto carry back your net operating
loss to obtain a quick refundfor taxes paid in prior years.
It generally must be filed withone year of the end of the tax
year in which the NOL occurred.
So your net operating loss.
This is how you get your quickrefund.
Application for tentativerefund Form 1045.
(19:48):
I'm going to say it again Form1045.
This is game right here.
A 1045 will get you that netoperating loss and come back All
right, quick and in a hurry.
Now, next, now, next, now next.
Give me all game for the lowtoo.
(20:10):
If you understand it, tell yourtaxpayer to do it.
I got CPAs for you.
You don't want to do ityourself?
I'll let you.
Boy, I got people ready.
Man, I'm in the business ofgetting people rich.
You feel me, I'm in thebusiness of getting back what's
due to you.
(20:30):
Now, look, here's the next formCorporation application for
tentative refund.
Here's the next one Form 1139.
Give me your game.
Form 1139.
Corporation application fortenant refund.
If your business is acorporation and you use this
form instead of the 1045 for thesame purpose.
(20:52):
So you use this for theunincorporated associations, you
use this for the corporations,the other ones for the LLC's.
You feel me.
You feel me.
Now, that's game.
Game right there.
(21:18):
Now, next, I'm not going to getdeep in what you need to do, but
if you file a 1040 form, youneed to file a 1040X to amend
the forms.
All right, to amend your taxreturns.
So it's not too late.
If you already filed your taxes, it's not too late.
So what you want to do is filea 1040X that amends your US
individual tax return.
You got 1041X if it's a trust.
(21:39):
1120x is amended corporationincome tax return if it's for
the company Um.
1120 X is amended corporationincome tax return if it's for
the company Um.
So the schedule a of form 1045or 1131, 1139, I mean the
schedule a.
This is the schedule used tocompute the NOL and to detail
any carryover care backadjustments.
(22:00):
So you're going to put you'regoing to put back the
adjustments and how you even gotthe NOL and the Schedule 8.
Then you attach your 1040 orbusiness tax returns.
Your standard tax returns willbe used to report the net
operating loss and any carryoverto future tax years.
Attach a statement whencarrying forward the NOL the net
operating loss you're going towant to attach a statement to
(22:22):
your tax return outlining yourcalculation of the NOL.
So boom, here's this business.
So I like to use bankstatements.
Listen, tap in with your boy.
I'll show you how to make theseyourself.
I'll show you how to make themyourself.
It's pretty simple.
It's pretty simple.
It's quick and easy, like myex-girlfriend.
(22:43):
Now, this isn't in the book, butwe will be going over what's in
the book.
I just want y'all to go.
Y'all should check out the book.
There's a lot of things.
It shows you education, taxcredits.
It shows you how to get yourmonthly bills paid, remittance
programs, the 1099 OID, the 1099INTID, the 1099-INT.
(23:05):
So check out the CapitalizingName for Newer all right, by Don
Calau.
It's a great book.
Now what I'm going to show youand go over is so, first of all,
irs, education.
Irs gives you credits foreducation, all right, irs gives
you credits for education, allright.
Now, this is why families it'sthe 8863.
(23:32):
This is why families send theirkids to private schools because
they get the credits back.
All right, 8863.
And then I'm going to get evenfurther, for everybody who
understands understands on adifferent level.
So the form 8863 is theeducation credits.
(23:54):
You pay for this class.
You pay for Instagram to learn.
You pay for YouTube.
You pay for cable, you pay forbooks, you pay for a private
education.
Form 8863 is the education taxcredits.
You can even get tuition back.
You can for a private education.
Form 8863 is the education taxcredit.
You can even get tuition back.
You can even run off yourtuition.
Alright, I'm showing that it's areal form.
I'm showing that it's a realform.
(24:15):
These are the forms that needto be filed.
So, when you have, when youunderstand the bonds, form 8912
is designed for you to claimcredits for holding qualified
(24:36):
tax bonds.
All right, including cleanenergy, school conduction,
education, all these differenttypes of all the bonds that you
hold.
(25:01):
Now, a form 4461.
This form is you determine ifthe business loss exceeds limits
set by the IRS rules All right.
So if you got anything thatgoes outside of 250,000 per
individual or 500,000, you'regoing to file the form 461 to
get more credits.
(25:21):
You know they might want toaudit anything after that.
Just thought I'd throw that outthere.
These are the forms that we usein our everyday lives on our
unincorporated associations, ourprivate faith-based
organizations, our trusts.
These are the forms that we'refiling and then using our name
as a business.
So the form 4562 depreciationand mortalization alright.
(25:52):
This form is used to claimdeductions related to
depreciation of vehicles usedfor business purposes, or even
say you got an Airbnb oranything that depreciates in
value for the business on form4562.
And then you get to write thisoff as a tax credit.
All right.
You get to write off companyrent, company expenses All right
(26:17):
.
When it comes to the business,you can use a form 1120 for
multi-member LLCs.
We'll use a form 1065.
Corporations use 1120 formulti-member LLCs will use a
form 1065.
Corporations use 1120,.
Llcs use a 1065.
Now the deductions that you canwrite off.
Okay, let me go on the book.
Before I get even deeper, letme just pull some shit up in the
(26:39):
book so y'all can see.
This is in the book.
I don't want to keep y'all fromwhat's in the book, but the
Capitalizing Entrepreneur it's agreat book shows you how to get
those tax credits for yourstraw man.
So a 1099-INT is also a greatway.
(27:03):
I might hit that before we getoff.
All right, so we got Form 3800.
This is everything that's inthe book.
Right here we got home officedeductions, schedule H,
self-employment tax deductions,health insurance deductions,
education and training expenses.
There was always deductions,work opportunity tax credits all
(27:25):
for your business.
Make your name a business.
Form 3800 is a good form, allright, let me show y'all what
that looks like.
General business credits.
We do file these for sure.
Form 3800 is a general businesscredit form.
(27:48):
All right, that's healthinsurance, claiming health
insurance.
You can.
If you got health insurance,you can claim that.
You give yourself healthinsurance.
You can claim that.
Make your name a business.
I'm trying to tell you when yousay you work from home, there's
(28:14):
so many tax benefits.
I'm just not going, I'm notgoing to go deep into them today
.
I'm just throwing out therewhat you could be using studying
on your own.
Form 940 as well.
We do sick pay on that Form4852, that's how you claim your
get your federal credits back,anything you work for.
You know what I mean Medicare,fica, all that shit back the
(28:37):
last three to five years.
Form 5842.
4852.
All right, now there's car howto claim the credits back for
the car.
There's different ways.
If you have an electric vehicle, you can file the form.
(28:59):
You can file in on the form3800, the general business
credit.
Or you can file the 8834, whichis the electric car credit.
All right, electric car creditsform 8834.
The IRS does have a form justfor electric cars.
8834.
Qualified electric vehiclecredit.
If you can plug it in, you canfile a credit on it.
(29:20):
That's crazy, ain't it Crazy,right?
Let me just show y'all the formso y'all know it's real on it.
That's crazy, ain't it Crazy,right?
Let me just show y'all the formso y'all know it's real.
Form 8834.
Qualified electric vehiclecredits.
Just showing y'all what's up.
Well, I was filed under the3800.
You can file your cars underthe 3800.
I hope somebody get over$20,000 back for a regular ass
car he only paid $2,500 for, sohe was so grateful for this
(29:44):
information.
Ass car he only paid $2,500 forit, so he was so grateful for
this information.
Some cars get handed downthrough the family.
It's part of the family trust.
You retile it until your nameLLC.
We can get you those credits.
A form 9061.
So these are tax creditpre-screening Shows you how to
(30:07):
do it all.
Sick pay on 941.
How to report sick pay,claiming tax credits, employee
retention credits.
I'm going to keep going down mylist, man, because I don't want
to keep running out of time.
(30:27):
I want you all to know that's agreat book to get.
Now.
With the 1099-INT, you'reclaiming interest on all these
accounts that you have opened inthe public, whether it be a
utility company, credit cardcompany, you always have
interest in these things.
They use your social securitytrust, which is a trust.
Everything's already paid for,so everything is interest.
(30:48):
You are the main privateinvestor and a lot of people
don't know this.
So you can write off your rent,mortgage utilities.
If you have salaries and wagesfor employees or you're
(31:08):
contracting supplies andmaterial, office supplies, raw
material, cars, whatever it maybe, advertising, marketing you
can write this off.
Travel expenses it's awrite-off.
Business travel, business meals, lodging, transportation, all
meals and meals andentertainment business related
(31:29):
meals, subject to certain limits, entertainment as well.
You're traveling, soentertainment?
You can write off entertainmentas part of a a package deal for
your employees.
Because you work for yourself,you understand insurance
premiums for businesses, such asliability, property or health
insurance for employees.
It's all a write-off.
Interest on business loans orcredit lines, write-off
(31:50):
Depreciation I told you aboutthat.
Depreciation of business assetslike vehicles, machinery or
equipment, repairs andmaintenance is a write-off.
Education and training, like Istated, is a write-off, long as
it's for business improvement.
All taxes are write-offs.
You should know that, but youcan try to stay away from those.
It's tax avoidance versus taxevasion.
(32:12):
Tax evasion is illegal.
Tax evasion is illegal.
Tax avoidance is perfectlylegal.
We're setting up entities to betax-free.
Alright, if you contribute toemployee retirement plans,
health insurance and otherbenefits, this is a write off.
That means you write off asemployee benefits.
(32:34):
Commission fees to agents,brokers, their contractors and
all office expenses are always awrite off.
Alright, contractors and alloffice expenses are always a
write-off.
All right, all office expenses.
I'm telling you.
You reach out to me.
I got people who do ScheduleH's.
(32:56):
Help you with Schedule H, makeyour name a business, home
office, business, home officewrite-offs all right, get
$100,000, $200,000 back easy.
That's what I'm seeing on eyes.
Now, if you're trying to movelow key with your business and
get and maneuver correctly andstay out the uh public's eye
with taxes, you want to.
You want to do a faith-basedorganization, faith-based
(33:20):
organization and you want tolearn what a stipend is.
A stipend is a fixed sum ofmoney paid periodically, used to
cover specific expenses orsupplement income without being
tied directly to hours ofperformance.
Common types of stipends arefor education or training,
stipends to cover the cost ofcourses and professional
development.
Technology stipends toreimburse employees for
(33:43):
purchasing required technologiessuch as computers or software.
Communing stipends foremployees' travel expenses.
Wellness stipends for gymmemberships.
Remote work stipends to helpemployees setting up their home
office.
Payment structure monthly,quarterly or annually, depending
on the purpose.
Now, employees might need tosubmit receipts or proof of
(34:08):
expenses.
Depending on the nature,stipends could be taxable income
or not.
It's important to consult withtax regulations.
The way I maneuver, I don't dotaxable stipends.
All right, now understand what afringe benefit is.
We do stipends and fringebenefits.
A fringe benefit are additionalcompensation offered to
employees, which can includeboth monetary and non-monetary
perks Health insurance is afringe benefit, retirement plans
(34:33):
, paid time off, company car orvehicle allowance, stock options
or equity, child careassistance, tuition
reimbursement these are allforms of fringe benefits most
(34:53):
board members can be.
You can be paid using stipends,all right, and having a plan
with it.
So, with understanding theoverstanding this, this is tax
evasion versus tax avoidance.
I understand tax evasion is alegal practice not paying taxes
owed to the government.
Tax avoidance is the legalpractice of structuring your
(35:17):
financial affairs to minimizeyour tax liability using methods
approved by law.
So this is the importance oftrust in estate planning.
To learn, most wealthy peopleuse insurance correctly.
This is how they use insuranceFor tax avoidance.
(35:39):
So there's still ways to get theERC out there still.
I know people still gettingthat.
We're going to go over the1099-INT.
I want you to see that before Iclose out.
But education tax credits getit back.
Doc and law books you can getthat back.
The form 8863 is used tocalculate and claim your
(36:02):
education credits, which includeAmerican Opportunity Credit and
the Lifetime Learning Credit.
Then you got energy tax credits.
The Residential EnergyEfficient Property credit is a
tax credit for homeowners whomake energy efficient updates.
You get to write that off andget a credit back if you're
(36:25):
doing anything to conserveenergy.
The form 5695 is used tocalculate and claim residential
energy credits.
The form 5695 is used tocalculate and claim residential
energy credits.
If you want to get investmentcredits as an investor, you know
(36:48):
that you're the investor, theprivate investor, you're
investing in that name, whateverit may be.
You fill out the IRS form 3468for anything investment,
investment related.
It's really that simple.
When you start learning how totell the IRS what to do, because
(37:15):
they're the tax experts, youjust tell them what to do.
Because they're the tax experts, you just tell them what to do.
You send them the letters, yousend them the forms to fill out.
Now, when you learn aboutinterest income, I need you to
know.
Anything that you deposit inyour bank, your bank account,
they invest it.
You're always the privateinvestor.
Anything you invest in yourbank, your bank account, they
(37:35):
invest it.
You're always the privateinvestor.
Anything you invest in yourbank, your bank invests it all
the way.
Look it up it's calledfractional banking.
So who can file a form 1099-INT?
Interest income Amounts paid totaxpayers that must be reported
on a 1099-INT include intereston bank deposits anything over
$10.
Financial institutions reportedon the 1099-INT include
(37:56):
interest on bank depositsanything over $10.
Financial institutions,including banks and brokerage
firms, must issue Form 1099-INTfor interest exceeding $10 paid
in a given year.
They can only, they only keep10% of the money you put in the
bank or whatever company you'reutilizing, whether it's a bank,
(38:17):
whether they owe you a dividendcheck, whether it's a deposit
account.
I need y'all to understand ifthey're sending you coupons,
these are coming from depositaccounts.
What I mean by coupon, a zerocoupon bond, that's what your
utility bill is.
So if it's anything over $10,they must issue 1099-INT.
But they're not going to sendit to you because you didn't
request it.
You done signed over yourpowers of attorney.
(38:38):
Accumulated dividends paid by alife insurance company.
We need a 1099-INT Indebtednessissued in registered forms of
type offered to the public, suchas bonds, debt nears, notes and
certificates other than thoseof the US Treasury, amounts from
which federal income tax orforeign tax was withheld.
(38:59):
So if you had a withholding onyour check, 1099-int, that is a
bank account, that's aninvestment account.
If you got a real estatemortgage 1099-INT, they owe you
interest.
It's interest secured.
You're filling out.
You got bills every day, billsevery day.
(39:21):
You get bills in the mail everyfreaking day.
They owe you a 1099-INT, youhave to request that, so.
Form 1099-INT is a tax formissued by interest-paying
(39:42):
entities, such as banks,investment firms and other
financial institutions, totaxpayers who receive interest
income of $10 or more.
The information recorded on theform must be reported to the
IRS, who must file the form1099-INT.
Form 1099-INT must be filed byany entity that pays interest,
such as banks, brokerages,investment firms, mutual funds
and other financial institutions.
They must file the form toanyone who receives interest
(40:04):
income of at least $10 when theywithhold and pay foreign taxes
on interest and whenever theissuer withholds federal income
tax without refunding.
One copy must be sent to theIRS and another to the taxpayer.
If anybody took federal taxesout from you and didn't refund
it to you because federal taxesare a loan, a lot of people
don't understand this.
This is when I tell you aboutthe United States national debt.
(40:27):
This is the best way to do it.
This is the best way to get alot of that money back.
Who owns the US national debt?
The Social Security Trust Fundowns a significant portion of
the US national debt, but howdoes that work and what does it
(40:48):
mean?
In addition to agencies likethe Social Security Trust Fund.
Various other entities includeforeign governments, domestic
investors and other federalreserves hold substantial
amounts of the debt.
This is what they owe the public.
I'm about to show you.
I'm about to show you.
I'm about to show you.
I'm about to screen shareeverybody.
I'm about to show my IG family.
This is what they owe thepublic.
(41:10):
Federal income tax are a loan.
This is why they owe you myhair by the lake, by the way.
Y'all see it.
Y'all see it.
This is what they owe you.
Though.
24 and a half trillion SocialSecurity Trust Funds owns a
(41:32):
significant portion of the USnational debt.
I'm just showing y'all ways.
There's no Listen.
Make your name a business, likeI told everybody.
I've been telling everybodysince 2016,.
17 in the public.
Make your name a business.
The Social Security Trust Fundis a SESC-K-VI trust.
(41:53):
Sesc-k by use is only set upfor beneficiaries.
That's, beneficiary use thesophisticated by the beneficiary
of a trust on insurance policy.
So the beneficiary will alwaysbe taxed.
Only trustees hold power.
You can never be the trustee.
You can only and with theSocial Security Trust, you can
(42:15):
only choose your administration.
You can only choose yourtrustees.
You can do nothing else.
As a beneficiary, you're alwaysliable for the tax.
Learn how to not be a descendanta descendant of a taxpayer.
Learn how to keep yournationality intact.
Quit saying you're a US citizen, like I started off.
Quit saying you're a partisan,like I started off.
The full class.
Make your name a business,operate as a natural living
(42:37):
being and you're doing commercewith a trade name.
Learn how to trademark yourname and signature.
Learn how to make this part ofthe family organization the
private family ministry, allright.
The private family association,all right.
That that's how we operate inthe public under our private
family organizations, ourprivate member associations, our
private family organizations,our 508 C1As our unincorporated
(43:00):
associations, all right.
That's who's going to hold thebeneficial interest to your
intellectual property and thisis what everybody needs to
understand and understand so youcan go back and claim these tax
credits for your strongman.
That's where it's at Tappingwith your boy, don Kalam $2,000.
We'll do it for you.
You just want to talk about it.
It'll be $1,000, man, I'll giveyou an hour consult for both,
(43:21):
but $2,000 will get this donefor you, this process done for
you.
Make sure your name becomes abusiness.
But We'll show you how to getall these blanks filled in for
you and get these taxdeductibles.
Get the net operating loss$250,000 per person.
You got a joint venture.
We can get up to 500,000 back.
You got Airbnbs, whatever itmay be in your life.
(43:43):
I'm going to show you how todepreciate these things and get
these tax credits back, becauseyou know, as time goes forward,
the cost of living rises, soeverybody has a depreciation.
That's what the fuck it's about, man, I gave you all the game,
though that was the wholemotherfucking game.
Tap into the school if you'renot part of the school, and get
the tax webinar class.
(44:03):
I will be doing a live webinar.
I'm not sure when it's going tobe.
I was trying to do it today.
It's a holiday for me too.
314 day.
I'm just everywhere right now.
I apologize, and I appreciatemy loyal supporters.
Man, with that, I'm out, though.
Much peace and love.
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