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>> Anthony Weaver: I know it's a common question.

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>> Angelina King: Um, actually it's a great question because

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refunds are interest free money that you're leaving on

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the table for the IRS to use until

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you claim it. Refunds could be great,

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especially for that single mother. Um,

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or I'll say it like this, because politically correct

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mother with kids, you know,

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um, because some people are offended by that single

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mom, but mother that

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has kids, she needs that tax credit,

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those non refundable credits, um, to

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raise their kids, you know, because if the father's not in their

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life, you know, some, some women do not put

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their, um, exes on.

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>> Anthony Weaver: Welcome back, everybody, back to another

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exciting show of the about that Water podcast

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where we help the Samus generation build strong financial

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habits. My name is Anthony Weaver,

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and one of the things that we're going to be

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talking into is about

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taxes. Tax season is right around the corner.

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Actually, it just started. Um, so I

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have my favorite tax lady,

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your favorite tax lady,

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Angelina King,

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coming back to share with us all the

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awesome things that's been happening with

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taxes. So are you guys ready?

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If not, here you go. Here you go. So how you doing today?

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>> Angelina King: I'm doing wonderful, Anthony. Thanks for having me back.

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>> Anthony Weaver: Yeah, Um, I mean, I have to say that, you

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know, the audience keep asking for you to come back.

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Um, I like to ask you first. I

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mean, obviously we stay in touch.

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>> Angelina King: Right?

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>> Anthony Weaver: And one of the things that I'd.

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Me personally, I like that you actually are fully open about

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taxes and actually just dive right into

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the tax code and what it is and how

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we can get better with it. And so I appreciate you

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for taking your time out of your day to do this.

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>> Angelina King: Oh, my pleasure is mine. You know, I love to

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educate people because we need to stay abreast on what's going

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on. Especially, um, we don't know what's going to

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happen with this new administration, so we're going to have

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to go with the flow right now. So,

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um, and I'm not going to get political because.

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>> Anthony Weaver: I mean, with these.

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>> Angelina King: Taxes, I mean, so I'm not

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gonna go there. But we all

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know what the elephant in the room is, so.

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And we don't want your

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listeners or your viewers to have

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fear, because there's no fear.

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>> Anthony Weaver: Okay? And for us to build that

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confidence in the tax code, in taxes, because a lot of

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us just don't know when should we start filing

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our taxes?

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>> Angelina King: Now, if you have all your

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documents, now is a great time.

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Um, and now is actually, you know, an

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acronym that I can't think of right now but

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um, today if you have all your

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documents and if you can

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go to your online account@the

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IRS.gov because if you think you're missing something,

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they should have your

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transcript already updated.

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It could be another week.

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But right now I believe all the documents there and

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just do a comparison to make sure you have everything.

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Because the one thing I

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don't want taxpayers to do is have get an

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under reporter notice. Because if you don't report

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those documents that the IRS has,

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that's a notice that you're going to get and

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you're going to have to do an amendment return or work it out with the

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IRS some kind of way to pay that,

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uh, if there's any taxes that are owed.

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So, um, and the reason why to

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do your taxes early

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is because one, we want to reduce

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the um, fraud risk

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on your Social Security number.

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Get it out the way. Um,

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also you have an opportunity to see what

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forms are missing. You know, we did have that

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either in our newsletter on

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why to consider filing early, the February

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newsletter. And if you're not getting the

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newsletter, that's fine, you can find it,

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find me on LinkedIn and it's posted

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every month and the weekly tax tips for

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there. Because a lot of people are like, I don't want to be spammed with

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email or anything like that. Go to my LinkedIn

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account and they're, they're posted there. Go

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to our Facebook account every week,

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every month you, you know, free

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information. And don't um, be

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shy because even when you file early,

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I'm just going to look at some notes because I can't remember

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everything

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but uh, you get your

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refund a little bit quicker. Um, the

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individuals that do have kids though,

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and if you file today, which is what, by the time, you know,

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this recording is February 8th and

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you file and you have

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dependents, just know due to

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the path act of 2015,

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your re, your tax return is going to be held because

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they need to make sure that your

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dependence on your tax filing

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is legitimate. Because that the reason why the PATH

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act went in. Just to summarize what it

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is, people were claiming each other's

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kids and when

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they, when the actual person goes to file,

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they're like, I can't claim my kids because somebody claimed them.

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You know, we don't want that. So, um,

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even if you decide to file after February

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15, file as soon as possible

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because you can also avoid a

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dependent dispute because I just mentioned about

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the PATH act and um,

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even if family members say, well, I'mma claim my sister

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this year. But that's up to y'all.

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I mean, okay, if you giving

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100% of um,

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the financial uh, support to that

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person, y'all work it out. I'm just a tax professional. I'm

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an the what the law

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says. I'm gonna

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give you what the law says. Okay.

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And that's on your conscience.

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I educated you because I have to fill out

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a due diligence checklist.

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If you tell me yes or no,

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that's the answer that I'm gonna say

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with within that checklist. But

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just be very mindful with that. You know,

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um, the other reason why you should consider,

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um, filing early. You'll get your

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refund interest free. You know,

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um, if you do owe, there is strategy

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there I wouldn't follow until April 15th.

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You know, I'm not supposed to tell y'all this, but.

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>> Anthony Weaver: Right.

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>> Angelina King: Hold your, your, your, your tax filing

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till April 15 because the minute that button is

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pushed, that's when the clock starts. And they

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expect for you to issue that

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check. But there's payment plans, so don't be fearful about

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that.

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And I think another. I want to give too much

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away in the newsletter. But

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like I said, I directed you to help you navigate to where

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to see this article. You're going to beat the

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rush. You know, um, we

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don't know if there's going to be any delays or glitches in the

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system. I can't predict the

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future. Well, you just turn on the news.

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You can see what's going on. Going

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on.

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>> Anthony Weaver: But that's, but what's going on in the news, Will that

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impact last year's taxes or does

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it impact this current year? So when we do our

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filings for.

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>> Angelina King: Next year for 2025.

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>> Anthony Weaver: 2025. Okay.

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>> Angelina King: Yeah. I don't know what's going, you know, happen. Jesus is coming

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back soon, walking the earth right

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now. But.

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>> Anthony Weaver: Oh my gosh.

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>> Angelina King: But yeah. Um, and then, you know, also if

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you want to be a person of charity, you get that

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refund. You can give that refund to somebody else. But

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I'm g. Leave that the decision of the taxpayer.

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But you know, help. Help your

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brother out, you know, help your sister out.

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Um, so those are some of the things that

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considering filing your return early.

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>> Anthony Weaver: Gotcha.

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So we have a. Obviously we like to get the

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W2 everyday nine to five people out the way first

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because those are the easies what um

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has changed far as their tax filing.

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So like the um, the

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allotment for their um. For

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the 2025 season so that they can start doing

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their Roth contributions in

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their traditional IRA

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contributions.

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>> Angelina King: Well, the limits have increased. I don't have them right in front of me,

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but um, the limits for you to contribute

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to those have increased, um,

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I wouldn't say significantly, but you know, even

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kill. But also for

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W2s for

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2024 because I can't really speak of what's going to go

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for 2025 because that job and tax act

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may be gone away with

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because of, I'll say it, Project

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2025, you know.

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So um, what

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you used to could write off may go away, but they may

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re implement it. I um, can't predict the

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future, but just stay prayerful and

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hopeful that something is going to be

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benefit to the W2 taxpayers. But

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I believe they're taking more from

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middle class and lower income

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and giving more advantage to the high income

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earners. And that's coming down the

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pipeline. So starting that

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side hustle, if you, if you heard that urge for many

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years to do it, this might be a good

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time to do it because

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um, a lot of your expenses that you

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incur are going to be tax

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write offs for you. Tax deductions.

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Um, the other thing,

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the standard uh, deductions for

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single, uh, head of household and married filing jointly

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and separately have gone up. But if you're

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single, your standard deduction and

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if you're a married filing separately,

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those deductions are the same for

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2024. So they're adjusting

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things for 2025 because of inflation.

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So um, there are instances

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where a lot of

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W2, uh workers, you

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can't really itemize much unless you have mortgage

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interest, gifts to charity, some

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medical expenses. The standard, um.

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And what I do for my clients, there is a sales

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tax calculator at the IRS website

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and they just recently updated that because

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even if you take that max sales tax deduction

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for the year, the max is $2,500. That

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may help reduce your tax

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liability a lot. Because I

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recently had a client, she was owing

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a little over, under uh, $50. And

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we were like we don't want you to pay anything.

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Okay? So we were like I'm not gonna push the

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button until April 15th if you like, you know, to

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hold this. And she was in agreement. I said there's

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one last thing I want to look at. So

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in order for her to get over that

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threshold of the standard deduction,

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I pretty much just looked at

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her expenses for the year because she's straight W2,

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um, and she had some medical

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expenses, mortgage, uh, interest,

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real estate taxes, um,

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and she didn't have any gifts to charity, from why I

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remember. But that sales tax calculator helped

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push her over because her

262
00:12:11,430 --> 00:12:14,174
itemized deductions were

263
00:12:14,262 --> 00:12:17,250
more than her standard deduction as head of household.

264
00:12:17,830 --> 00:12:19,810
And that little bit of a push

265
00:12:20,560 --> 00:12:22,700
flipped it to a refund

266
00:12:23,280 --> 00:12:25,416
because we maxed it out. Because there's

267
00:12:25,448 --> 00:12:27,680
instructions@irs.gov

268
00:12:28,176 --> 00:12:30,408
SalesTax

269
00:12:30,504 --> 00:12:33,208
okay, go to that website, play

270
00:12:33,264 --> 00:12:35,992
around with it. Put in your adjusted gross

271
00:12:36,056 --> 00:12:39,050
income, if you know it. Um,

272
00:12:39,520 --> 00:12:42,392
and then if you had any dependents or anything,

273
00:12:42,536 --> 00:12:45,368
you made any large purchases for the tax

274
00:12:45,424 --> 00:12:48,356
year, and read the instructions. Because you can either

275
00:12:48,388 --> 00:12:51,252
use the number that calculates or you

276
00:12:51,276 --> 00:12:53,908
can do the standard sales tax

277
00:12:53,964 --> 00:12:56,360
deduction, which is $2,500.

278
00:12:57,740 --> 00:13:00,324
I would go with $2,500, especially if it

279
00:13:00,332 --> 00:13:02,680
calculates, yes,

280
00:13:03,740 --> 00:13:06,724
1,200. Okay. The IRS

281
00:13:06,772 --> 00:13:09,684
allows it because the instructions are there.

282
00:13:09,852 --> 00:13:12,740
Okay. They're matter of fact. Let's be matter of fact

283
00:13:12,780 --> 00:13:13,434
as well.

284
00:13:13,572 --> 00:13:14,250
>> Anthony Weaver: Right?

285
00:13:15,510 --> 00:13:18,462
>> Angelina King: We'll play the game. Just play the

286
00:13:18,486 --> 00:13:18,958
game.

287
00:13:19,094 --> 00:13:19,502
>> Anthony Weaver: Yeah.

288
00:13:19,566 --> 00:13:22,062
>> Angelina King: And see, that's the thing people don't realize with taxes. Don't be

289
00:13:22,086 --> 00:13:24,494
fearful, because if you have a person

290
00:13:24,582 --> 00:13:27,550
who, such as myself, who wants to

291
00:13:27,590 --> 00:13:30,494
educate you legally via

292
00:13:30,542 --> 00:13:32,862
the tax law, you know, if

293
00:13:33,046 --> 00:13:35,934
somebody sees this, hey, they may shut me down. Uh, I

294
00:13:35,942 --> 00:13:38,942
don't know. But I'm not fearful of that because I

295
00:13:38,966 --> 00:13:41,570
want to educate my clients so they're aware.

296
00:13:42,020 --> 00:13:44,892
These are some of the things that you look for for your

297
00:13:44,916 --> 00:13:47,400
tax professional to see if they

298
00:13:48,420 --> 00:13:51,260
understand the law and,

299
00:13:51,260 --> 00:13:54,172
um, to the benefit of

300
00:13:54,196 --> 00:13:57,116
you as a taxpayer. Seriously, because I'm. I'm

301
00:13:57,148 --> 00:14:00,044
looking out for you. I want to serve, and I want to

302
00:14:00,052 --> 00:14:02,556
serve you, the taxpayer, to educate

303
00:14:02,588 --> 00:14:03,280
yourself.

304
00:14:03,880 --> 00:14:06,812
>> Anthony Weaver: Uh, so what. I mean, I know I

305
00:14:06,836 --> 00:14:09,660
like to ask this question all the time because we always get new

306
00:14:09,700 --> 00:14:12,358
listeners. How do we

307
00:14:12,494 --> 00:14:14,810
pick a good tech professional?

308
00:14:16,110 --> 00:14:18,102
>> Angelina King: Well, there is, because I'm listed on the

309
00:14:18,126 --> 00:14:20,662
IRS.gov website. There is a

310
00:14:20,686 --> 00:14:23,590
directory, and you pretty much

311
00:14:23,630 --> 00:14:26,326
can go there and kind of search by your zip

312
00:14:26,358 --> 00:14:29,190
code. Because a lot of the CPAs or

313
00:14:29,230 --> 00:14:32,182
tax professionals out there also look at

314
00:14:32,206 --> 00:14:34,630
Google reviews, because if there's one bad

315
00:14:34,670 --> 00:14:37,600
review that tanks, you know

316
00:14:37,640 --> 00:14:40,256
that that turns anybody off. Because right now

317
00:14:40,408 --> 00:14:43,232
I'm in the process getting my roof at my house

318
00:14:43,336 --> 00:14:46,160
done. And, um, the

319
00:14:46,200 --> 00:14:49,168
reviews came back. Really? Really. See, that's another

320
00:14:49,224 --> 00:14:51,220
expense anyway.

321
00:14:52,920 --> 00:14:55,872
>> Anthony Weaver: But you can put that on the sales tax. I was on their website. They say, like,

322
00:14:55,896 --> 00:14:58,224
hey, you got any home repairs? You can put that down.

323
00:14:58,312 --> 00:15:00,880
>> Angelina King: That's right. That's what. See, See, I just

324
00:15:00,920 --> 00:15:02,780
educated you, so you sure did

325
00:15:04,110 --> 00:15:06,950
use it, it's out there. They don't tell you that it's out

326
00:15:06,990 --> 00:15:09,878
there. I look for stuff like that because I'm like, wait

327
00:15:09,894 --> 00:15:12,726
a minute, 1099. And small business

328
00:15:12,798 --> 00:15:14,998
owners have so much advantage. But see,

329
00:15:15,134 --> 00:15:17,798
W2. And the small

330
00:15:17,854 --> 00:15:20,610
businesses can use that sales tax calculator because

331
00:15:21,390 --> 00:15:23,846
if you file your, uh, if you're a sole

332
00:15:23,878 --> 00:15:26,630
proprietorship, you're going to file it on your

333
00:15:26,670 --> 00:15:29,590
schedule C. So I'm looking for things to

334
00:15:29,630 --> 00:15:32,170
help lower your tax liability,

335
00:15:32,680 --> 00:15:35,318
um, and your taxable income because it looks at the tax

336
00:15:35,374 --> 00:15:38,294
tables based on your taxable income in

337
00:15:38,302 --> 00:15:41,254
order to calculate what tax whether you're overpaid

338
00:15:41,302 --> 00:15:44,110
or underpaid. So. Yeah, um,

339
00:15:44,750 --> 00:15:47,570
but, um, back to your question.

340
00:15:48,350 --> 00:15:49,290
Digress.

341
00:15:49,870 --> 00:15:50,730
>> Anthony Weaver: Okay.

342
00:15:52,510 --> 00:15:54,130
>> Angelina King: Please mention that again.

343
00:15:55,800 --> 00:15:57,740
I got sidetracked. Like what?

344
00:15:59,730 --> 00:16:02,220
>> Anthony Weaver: Uh, um.

345
00:16:02,440 --> 00:16:03,440
>> Angelina King: You messed up too.

346
00:16:03,480 --> 00:16:06,352
>> Anthony Weaver: Yeah. Because you saw

347
00:16:06,376 --> 00:16:08,860
it. We, um, were talking about,

348
00:16:08,890 --> 00:16:11,410
um,

349
00:16:11,410 --> 00:16:14,224
crap. Right. But we

350
00:16:14,232 --> 00:16:15,980
were, uh, we were on something.

351
00:16:17,160 --> 00:16:20,032
But yeah. Well, one of the things is. Oh, um, far

352
00:16:20,056 --> 00:16:22,964
as doing the interviews for the tax professional, how do we.

353
00:16:23,112 --> 00:16:24,000
>> Angelina King: Oh, yes.

354
00:16:24,660 --> 00:16:26,156
>> Anthony Weaver: If we got the right one.

355
00:16:26,308 --> 00:16:29,244
>> Angelina King: Yeah. IRS.gov is first look at

356
00:16:29,252 --> 00:16:31,436
their directory. Sorry, y'all.

357
00:16:31,468 --> 00:16:34,364
>> Anthony Weaver: I mean, we're gonna keep this all the

358
00:16:34,372 --> 00:16:34,684
day.

359
00:16:34,772 --> 00:16:37,724
>> Angelina King: Yeah. All right.

360
00:16:37,892 --> 00:16:40,252
Keep it. I. I'm not.

361
00:16:40,436 --> 00:16:43,372
Okay, first go to irs, because you can even look me

362
00:16:43,396 --> 00:16:46,284
up. Um, because every year I take the annual refresher

363
00:16:46,332 --> 00:16:49,260
course. I don't have to, but I do that just

364
00:16:49,300 --> 00:16:52,268
to say abreast of some of the changes and then where,

365
00:16:52,324 --> 00:16:55,320
you know, there were some changes, but not really,

366
00:16:56,180 --> 00:16:59,116
um, that much. Maybe we'll do another interview

367
00:16:59,148 --> 00:17:01,788
to kind of go over what the, the changes are

368
00:17:01,844 --> 00:17:03,852
for the upcoming changes for

369
00:17:03,876 --> 00:17:06,732
2024 to go more in depth

370
00:17:06,796 --> 00:17:09,676
with that. But, um, next

371
00:17:09,748 --> 00:17:11,960
look at the Google reviews because

372
00:17:13,300 --> 00:17:15,000
read the bad ones too.

373
00:17:16,190 --> 00:17:18,630
Don't you see all these five stars and

374
00:17:18,670 --> 00:17:21,414
4.9 and couple

375
00:17:21,462 --> 00:17:24,050
threes. Read the bad ones too, because

376
00:17:24,670 --> 00:17:27,530
it has, it gives you a well rounded

377
00:17:28,110 --> 00:17:30,918
depiction of how your experience may be.

378
00:17:31,054 --> 00:17:34,022
Now if you go and choose that one, that might not

379
00:17:34,046 --> 00:17:36,934
be your experience, but reviews

380
00:17:36,982 --> 00:17:38,930
and IRS.gov is great.

381
00:17:40,430 --> 00:17:43,318
Ask, um, for someone else to refer you, especially

382
00:17:43,374 --> 00:17:46,242
if you're out of state, you know, because they may have

383
00:17:46,266 --> 00:17:49,026
developed a relationship with another

384
00:17:49,098 --> 00:17:51,930
tax preparer in another state. So,

385
00:17:51,930 --> 00:17:54,870
um, referrals are great because that's free advertising.

386
00:17:55,610 --> 00:17:58,450
And um, other than that, pray and ask

387
00:17:58,490 --> 00:17:59,630
God to lead you.

388
00:18:01,450 --> 00:18:03,150
>> Anthony Weaver: Okay with your day.

389
00:18:06,170 --> 00:18:08,386
>> Angelina King: Man, I, I've been watching

390
00:18:08,498 --> 00:18:11,410
lately, well, toward the end of the year, this show

391
00:18:11,450 --> 00:18:14,340
called American Greed. There are some

392
00:18:14,380 --> 00:18:16,760
people out here, they have no conscience

393
00:18:17,340 --> 00:18:20,228
whatsoever. It's on, uh, well, I'm

394
00:18:20,244 --> 00:18:22,356
not going to advertise in that where y'all can look it up.

395
00:18:22,428 --> 00:18:25,396
>> Anthony Weaver: Right. Because I saw one of them that was, uh, talking

396
00:18:25,428 --> 00:18:28,180
about the guardianship. That one. I was

397
00:18:28,300 --> 00:18:31,044
upset with that one. Yeah, that one.

398
00:18:31,132 --> 00:18:31,800
Yeah.

399
00:18:32,210 --> 00:18:34,650
>> Angelina King: Um, there's a, there's a guy called, uh,

400
00:18:34,780 --> 00:18:37,732
Abraham Shakespeare. If you ever see that

401
00:18:37,756 --> 00:18:40,722
episode. This man won the

402
00:18:40,746 --> 00:18:43,586
Florida lottery and it didn't

403
00:18:43,618 --> 00:18:46,418
turn out very well, but, uh, he got

404
00:18:46,474 --> 00:18:49,362
conned by someone. I'm not gonna even mention the

405
00:18:49,386 --> 00:18:52,210
ladies now and I'm not gonna get give too much

406
00:18:52,250 --> 00:18:54,790
away, but it's just ended tragically.

407
00:18:56,090 --> 00:18:58,530
It's just. And then covet

408
00:18:58,690 --> 00:19:01,554
when covet hit. And you remember in the

409
00:19:01,562 --> 00:19:03,698
news they said they ran out of funds?

410
00:19:03,874 --> 00:19:05,590
>> Anthony Weaver: Yeah. Remember that?

411
00:19:06,130 --> 00:19:09,114
>> Angelina King: Well, I'll say this a little briefly, but I don't want

412
00:19:09,122 --> 00:19:12,042
to give the. There was a, um. Well,

413
00:19:12,066 --> 00:19:14,858
yeah, I can give it away because they probably won't air

414
00:19:14,914 --> 00:19:17,690
that for another couple more

415
00:19:17,730 --> 00:19:20,522
weeks or months, I don't know. But

416
00:19:20,706 --> 00:19:23,306
there was a family that came over from a different

417
00:19:23,378 --> 00:19:26,282
country and they started all

418
00:19:26,306 --> 00:19:29,242
of these fake businesses and that's how they

419
00:19:29,266 --> 00:19:32,060
got that free money and that's how it ran out.

420
00:19:32,360 --> 00:19:35,312
And I said, lo and behold, you know,

421
00:19:35,336 --> 00:19:37,660
I'm trying to help my clients get money.

422
00:19:38,200 --> 00:19:39,900
And there was nothing left.

423
00:19:40,510 --> 00:19:40,640
>> Anthony Weaver: Mhm.

424
00:19:41,560 --> 00:19:44,432
>> Angelina King: And it's almost like they slapped them

425
00:19:44,456 --> 00:19:45,376
on the wrist.

426
00:19:45,568 --> 00:19:48,064
>> Anthony Weaver: They slapped a lot of people on the wrist with that one.

427
00:19:48,232 --> 00:19:50,800
>> Angelina King: Yeah, yeah. But

428
00:19:50,840 --> 00:19:51,888
anyway, right.

429
00:19:51,944 --> 00:19:54,832
>> Anthony Weaver: You try to do. Right. And you know, this is what

430
00:19:54,856 --> 00:19:57,854
happens a lot of times it's like, am I not lying

431
00:19:57,902 --> 00:20:00,558
enough? Like, I'll get you to think,

432
00:20:00,614 --> 00:20:02,334
like, can I lie a little bit?

433
00:20:02,422 --> 00:20:05,086
>> Angelina King: Don't, don't ever do that. Come on, Anthony. I don't

434
00:20:05,118 --> 00:20:08,046
even, uh. I consider you my spiritual brother. Don't.

435
00:20:08,078 --> 00:20:08,494
Don't lie.

436
00:20:08,542 --> 00:20:09,530
>> Anthony Weaver: No, no, no.

437
00:20:11,510 --> 00:20:14,270
>> Angelina King: Don'T do that. No.

438
00:20:14,310 --> 00:20:16,750
Because see, you're going to be the one that gets caught.

439
00:20:16,910 --> 00:20:19,450
>> Anthony Weaver: Right? Out of all the people, I'm sure.

440
00:20:20,230 --> 00:20:23,020
Yeah, I don't, I don't like jail.

441
00:20:23,230 --> 00:20:25,880
>> Angelina King: Um, no. And I tell people, I

442
00:20:25,920 --> 00:20:28,792
joke about it. I'm too skinny to

443
00:20:28,816 --> 00:20:29,480
go to jail.

444
00:20:29,560 --> 00:20:30,300
>> Anthony Weaver: Okay,

445
00:20:32,560 --> 00:20:35,400
look, I bet a buck 20. What, like

446
00:20:35,440 --> 00:20:36,260
that's it?

447
00:20:38,000 --> 00:20:40,920
>> Angelina King: And I love the Lord and my mama, um, way too much to

448
00:20:40,960 --> 00:20:43,528
say, disappoint them. And I'm

449
00:20:43,544 --> 00:20:46,540
like, no, uh, angel ain't gonna,

450
00:20:47,200 --> 00:20:49,920
you know, I've been asked to do things

451
00:20:50,040 --> 00:20:52,940
tax related. And I was like, no, you came to the wrong company.

452
00:20:53,060 --> 00:20:55,200
Um, I'm not gonna do it. Write off

453
00:20:55,240 --> 00:20:58,224
cigarettes. I think I told you that in my first Episode

454
00:20:58,272 --> 00:20:58,880
with you.

455
00:20:59,000 --> 00:20:59,536
>> Anthony Weaver: Yeah.

456
00:20:59,648 --> 00:21:02,496
>> Angelina King: This trucker told me, you know, you can write off my cigarettes

457
00:21:02,528 --> 00:21:03,380
as meals.

458
00:21:05,640 --> 00:21:07,420
What? Textbook? You think

459
00:21:08,200 --> 00:21:11,152
textbook? Did you. Anyway,

460
00:21:11,296 --> 00:21:13,600
right. Moving on. All right.

461
00:21:13,720 --> 00:21:14,480
>> Anthony Weaver: It's okay.

462
00:21:14,560 --> 00:21:15,740
>> Angelina King: I'm just me.

463
00:21:17,040 --> 00:21:19,296
>> Anthony Weaver: Uh, so we talked about the standard

464
00:21:19,328 --> 00:21:21,872
deductions, um, for the sales

465
00:21:21,936 --> 00:21:24,864
tax. What is it that a lot

466
00:21:24,872 --> 00:21:27,872
of people are not doing in 2024 that they should do

467
00:21:27,896 --> 00:21:29,180
for 2025?

468
00:21:30,360 --> 00:21:33,008
>> Angelina King: Adjust your withholding because it's getting

469
00:21:33,064 --> 00:21:35,744
serious. Um, and that withholding

470
00:21:35,792 --> 00:21:37,820
calculator that we did on another show,

471
00:21:38,600 --> 00:21:41,290
Please do. Because, um,

472
00:21:41,800 --> 00:21:44,592
I've already ran into issues where the

473
00:21:44,616 --> 00:21:47,522
federal withholding is zero. You don't want

474
00:21:47,546 --> 00:21:50,450
that to be zero because that's considered

475
00:21:50,530 --> 00:21:52,710
you being tax exempt.

476
00:21:53,210 --> 00:21:55,842
Do you have a exempt certificate

477
00:21:55,906 --> 00:21:58,194
to, uh, support

478
00:21:58,282 --> 00:22:01,190
that? Most taxpayers don't,

479
00:22:01,610 --> 00:22:04,530
you know, um, because it's going to cause a real

480
00:22:04,570 --> 00:22:07,230
issue. But I understand the strategy because

481
00:22:07,850 --> 00:22:10,786
one of my, uh, case studies, they said that

482
00:22:10,938 --> 00:22:13,768
they wanted more money. The. Wow. Because

483
00:22:13,824 --> 00:22:16,504
things are so expensive. I get it,

484
00:22:16,672 --> 00:22:19,352
I get it. They want it more in their check. I get

485
00:22:19,376 --> 00:22:22,056
it. However you

486
00:22:22,128 --> 00:22:24,680
really look at this liability,

487
00:22:24,840 --> 00:22:26,630
though, you know,

488
00:22:26,630 --> 00:22:29,288
um, so be very

489
00:22:29,424 --> 00:22:32,168
mindful of that. Um, making

490
00:22:32,224 --> 00:22:34,952
sure enough withhold. And my high income

491
00:22:35,016 --> 00:22:35,660
earners,

492
00:22:37,270 --> 00:22:40,140
um,

493
00:22:40,220 --> 00:22:43,076
please take adequate federal

494
00:22:43,148 --> 00:22:45,920
income taxes out because you're going to be in a situation where

495
00:22:46,460 --> 00:22:49,428
you're a high income earner and then it gets into

496
00:22:49,484 --> 00:22:52,484
the thousands of dollars for your liability. And

497
00:22:52,492 --> 00:22:55,460
there's not much I can do if you don't have

498
00:22:55,500 --> 00:22:58,030
a side hustle or schedule. Uh,

499
00:22:58,596 --> 00:23:01,156
c. You know, and that side hustle is

500
00:23:01,228 --> 00:23:04,036
legit. Don't just make stuff

501
00:23:04,068 --> 00:23:06,540
up, because we don't do that here.

502
00:23:06,960 --> 00:23:09,900
Um, you got to be honest. And. Oh, they'll never

503
00:23:10,680 --> 00:23:12,780
see. Don't ever say never.

504
00:23:13,960 --> 00:23:16,784
Never ever. Uh, don't

505
00:23:16,832 --> 00:23:19,792
ever say that because you probably the one that they

506
00:23:19,816 --> 00:23:21,060
pick for audit.

507
00:23:23,000 --> 00:23:25,792
>> Anthony Weaver: You got to keep that for what, seven years? Keep your information for

508
00:23:25,816 --> 00:23:26,320
seven years.

509
00:23:26,360 --> 00:23:29,020
>> Angelina King: For that I recommend five.

510
00:23:29,260 --> 00:23:31,820
Um, some people say three. And especially

511
00:23:32,340 --> 00:23:35,292
now with the digital age, you can scan that stuff in and keep

512
00:23:35,316 --> 00:23:37,840
it on a thumb drive or external drive.

513
00:23:38,260 --> 00:23:40,732
Um, and then you don't have to worry about the

514
00:23:40,756 --> 00:23:43,756
paper. You can go to your external, uh, drive

515
00:23:43,788 --> 00:23:46,412
or your thumb drive and download it if you need

516
00:23:46,436 --> 00:23:48,760
it. And that includes receipts because

517
00:23:49,620 --> 00:23:52,460
that's clutter. You know, we don't want

518
00:23:52,500 --> 00:23:54,360
clutter. No,

519
00:23:54,980 --> 00:23:57,980
no. But, um, and also

520
00:23:58,020 --> 00:24:00,982
to your point with the W2s, look at

521
00:24:01,006 --> 00:24:03,830
those closely because a lot of businesses have

522
00:24:03,870 --> 00:24:06,870
been going out of business, and you may

523
00:24:06,910 --> 00:24:09,782
have trouble getting that W2, but you need to file a

524
00:24:09,806 --> 00:24:12,022
complaint with the IRS so you can get your

525
00:24:12,046 --> 00:24:15,014
W2. Um, and then if you

526
00:24:15,102 --> 00:24:18,000
might have to file an extension, um,

527
00:24:18,110 --> 00:24:20,326
with that W2 until that

528
00:24:20,398 --> 00:24:23,350
transcript is available. But

529
00:24:23,390 --> 00:24:26,342
keep in mind also that the transcript, the

530
00:24:26,366 --> 00:24:29,280
wage transcript that you download will

531
00:24:29,320 --> 00:24:32,272
not have the full EIN number on

532
00:24:32,296 --> 00:24:35,120
there. So you're going to have to call the IRS to get the

533
00:24:35,160 --> 00:24:37,900
full EIN number because

534
00:24:38,200 --> 00:24:41,040
your tax professional is going to need that along with

535
00:24:41,080 --> 00:24:43,920
the address. So what you do, you ask

536
00:24:43,960 --> 00:24:46,720
for an unmasked copy of

537
00:24:46,760 --> 00:24:49,568
your wage transcript so you can

538
00:24:49,704 --> 00:24:52,272
file, uh, your taxes and also file the

539
00:24:52,296 --> 00:24:54,950
complaint. You know, because they,

540
00:24:55,250 --> 00:24:58,042
they meaning the company that went out of business still has an

541
00:24:58,066 --> 00:25:00,390
obligation to release

542
00:25:01,010 --> 00:25:03,350
your W2 or 1099.

543
00:25:04,450 --> 00:25:07,162
>> Anthony Weaver: See, I didn't know that, um, because somebody was

544
00:25:07,186 --> 00:25:09,690
telling me recently to

545
00:25:09,730 --> 00:25:12,710
start doing a, what they call it,

546
00:25:13,890 --> 00:25:16,842
like a digital go bag. And what

547
00:25:16,866 --> 00:25:19,850
they mean by that was getting. Printing out the

548
00:25:19,890 --> 00:25:22,836
last five pay stubs. Uh, printing

549
00:25:22,868 --> 00:25:25,652
out like your. Any other document,

550
00:25:25,716 --> 00:25:28,644
forms that's necessary for taxes or your employment

551
00:25:28,692 --> 00:25:31,140
information, like you said, your employee, your

552
00:25:31,180 --> 00:25:34,068
employer information. So you can still file your tax.

553
00:25:34,124 --> 00:25:37,012
Because the ein should be on prior stuff if

554
00:25:37,036 --> 00:25:39,604
you've been there for years. So you can still file

555
00:25:39,652 --> 00:25:42,388
it. Um, and

556
00:25:42,444 --> 00:25:45,332
so just kind of like to, to make

557
00:25:45,356 --> 00:25:48,238
sure that people do that. Is it best practice,

558
00:25:48,334 --> 00:25:51,262
like if they already have that latest pay stub, can they

559
00:25:51,286 --> 00:25:54,062
still file that taxes with that? Or do you think there's more

560
00:25:54,086 --> 00:25:55,770
info on the W2?

561
00:25:56,230 --> 00:25:58,926
>> Angelina King: It's more efficient to do it from your W2. But yes,

562
00:25:58,958 --> 00:26:01,870
strategy is in one of our tips or

563
00:26:01,910 --> 00:26:04,830
the newsletter. Um, we did mention that as

564
00:26:04,870 --> 00:26:07,790
well. But more than likely you need

565
00:26:07,830 --> 00:26:10,686
to contact the IRS because they're

566
00:26:10,718 --> 00:26:12,330
the ones with the information.

567
00:26:13,360 --> 00:26:16,248
They're the ones that need to advise you you can do all that.

568
00:26:16,304 --> 00:26:18,980
But I think in interest of time,

569
00:26:19,760 --> 00:26:22,460
go on to your online account and

570
00:26:22,460 --> 00:26:25,160
um. But. Or

571
00:26:25,280 --> 00:26:28,024
wait to file an extension. But that is a strategy you

572
00:26:28,032 --> 00:26:30,664
can use. Yeah, but we don't

573
00:26:30,712 --> 00:26:32,980
file by paycheck stubs.

574
00:26:32,980 --> 00:26:33,740
Mhm.

575
00:26:33,740 --> 00:26:35,480
>> Anthony Weaver: I guess. M. That was old school.

576
00:26:35,600 --> 00:26:36,488
>> Angelina King: That's old school.

577
00:26:36,544 --> 00:26:39,432
>> Anthony Weaver: Okay. Um, because you

578
00:26:39,456 --> 00:26:42,380
said that I did not know. You can actually create your own

579
00:26:42,420 --> 00:26:44,828
account inside the IRS website.

580
00:26:44,884 --> 00:26:47,292
>> Angelina King: Yes, you can. They. You're gonna have to go through a

581
00:26:47,316 --> 00:26:49,212
verification process though.

582
00:26:49,396 --> 00:26:51,468
>> Anthony Weaver: I mean it's like the real id, isn't it?

583
00:26:51,604 --> 00:26:54,140
>> Angelina King: Yeah, they gotta, they have to verify your

584
00:26:54,180 --> 00:26:55,040
identity.

585
00:26:56,640 --> 00:26:58,340
Mhm.

586
00:26:58,340 --> 00:27:00,876
>> Anthony Weaver: Okay. And then they'll have all that information already built

587
00:27:00,908 --> 00:27:01,484
in.

588
00:27:01,652 --> 00:27:04,412
>> Angelina King: Yes. They'll have your complete tax record for three

589
00:27:04,436 --> 00:27:05,308
years out there.

590
00:27:05,364 --> 00:27:05,960
>> Anthony Weaver: What?

591
00:27:06,280 --> 00:27:09,200
>> Angelina King: Yeah. So you can download. You can even see

592
00:27:09,240 --> 00:27:11,840
when you filed your taxes the tax

593
00:27:11,960 --> 00:27:14,912
transcript or your tax filing, you

594
00:27:14,936 --> 00:27:17,888
can find your wage and transfer. Um, and then you have. If you're

595
00:27:17,904 --> 00:27:20,896
a business owner like C. Ah, Corp.

596
00:27:20,928 --> 00:27:23,670
S Corp or um,

597
00:27:24,080 --> 00:27:26,864
um, because on your 1040 that's where your schedule

598
00:27:26,912 --> 00:27:29,660
C is, you can see that business

599
00:27:30,120 --> 00:27:33,072
filing has been filed and what day or

600
00:27:33,096 --> 00:27:35,632
whatever on there. So you get a bit of a

601
00:27:35,656 --> 00:27:36,200
summary.

602
00:27:36,320 --> 00:27:39,192
>> Anthony Weaver: Yeah, well, I'm looking at it. Well, I'm about

603
00:27:39,216 --> 00:27:42,056
to sign in right now because I. It looked like it's

604
00:27:42,088 --> 00:27:45,080
using the same portal, which is the ID me

605
00:27:45,080 --> 00:27:48,072
M thing. Yes, um, to

606
00:27:48,096 --> 00:27:48,980
set up.

607
00:27:50,000 --> 00:27:51,380
>> Angelina King: That's exactly right.

608
00:27:51,920 --> 00:27:54,760
>> Anthony Weaver: So this you know saying like every time

609
00:27:54,800 --> 00:27:57,208
we talk, he always teach me something new, which is great.

610
00:27:57,344 --> 00:28:00,344
>> Angelina King: I'm glad you. I'm glad you carry

611
00:28:00,392 --> 00:28:01,758
attention. Thank you.

612
00:28:01,864 --> 00:28:04,578
>> Anthony Weaver: There ain't nobody else getting any information. I am,

613
00:28:04,714 --> 00:28:07,634
I mean. Oh yeah, they do ask for

614
00:28:07,642 --> 00:28:08,430
more information.

615
00:28:08,810 --> 00:28:11,730
>> Angelina King: They do. Um, U.S.

616
00:28:11,770 --> 00:28:14,466
tax professional have to do that too if we access it. So

617
00:28:14,538 --> 00:28:17,506
it's. And, and a little tip

618
00:28:17,538 --> 00:28:20,370
for our nonprofits out there. If

619
00:28:20,410 --> 00:28:23,250
you w2 and you also are starting a

620
00:28:23,290 --> 00:28:26,080
nonprofit, um,

621
00:28:26,730 --> 00:28:29,390
record keeping is very important. However,

622
00:28:30,560 --> 00:28:33,160
if you didn't get but less than

623
00:28:33,200 --> 00:28:36,152
50,000 in contributions for

624
00:28:36,176 --> 00:28:38,872
your nonprofit, you still have to

625
00:28:38,896 --> 00:28:40,940
file a form, um,

626
00:28:40,992 --> 00:28:43,560
990N and that is an

627
00:28:43,600 --> 00:28:46,232
informational return to let the

628
00:28:46,256 --> 00:28:49,192
IRS know that contributions for

629
00:28:49,216 --> 00:28:51,560
that tax year were less than

630
00:28:51,600 --> 00:28:54,424
50,000. Because some churches and charitable

631
00:28:54,472 --> 00:28:56,230
organizations are getting

632
00:28:56,270 --> 00:28:59,142
1099ks. Okay.

633
00:28:59,286 --> 00:29:02,182
For all their contributions that came into their

634
00:29:02,206 --> 00:29:04,950
organization. And as you know, all

635
00:29:04,990 --> 00:29:07,894
tax documents that you receive,

636
00:29:08,022 --> 00:29:09,810
the IRS receives it too.

637
00:29:10,590 --> 00:29:11,798
So if you are

638
00:29:11,854 --> 00:29:14,582
501c3 it's

639
00:29:14,646 --> 00:29:17,462
best not to ignore it. Although if

640
00:29:17,486 --> 00:29:20,150
you made less than $10,000 that

641
00:29:20,190 --> 00:29:22,840
year, I advise you do,

642
00:29:22,840 --> 00:29:25,456
uh, a form

643
00:29:25,608 --> 00:29:29,920
990N.

644
00:29:30,040 --> 00:29:33,040
So it's a 990N. And

645
00:29:33,040 --> 00:29:36,032
um, you can file directly at the IRS website

646
00:29:36,216 --> 00:29:37,180
for free.

647
00:29:37,960 --> 00:29:39,500
>> Anthony Weaver: Okay, that's good.

648
00:29:39,720 --> 00:29:42,608
>> Angelina King: Mhm. Yeah. Because some people

649
00:29:42,744 --> 00:29:44,976
W2s and then you got pastors. Because I have a couple

650
00:29:45,008 --> 00:29:47,794
pastor as my clients

651
00:29:47,912 --> 00:29:49,650
and these pastors are funny.

652
00:29:50,150 --> 00:29:51,358
>> Anthony Weaver: Really? What do you mean?

653
00:29:51,494 --> 00:29:54,270
>> Angelina King: They're. They're funny. They're hilarious.

654
00:29:54,350 --> 00:29:56,690
Like comedy. Comedy relief.

655
00:29:57,430 --> 00:30:00,250
>> Anthony Weaver: Seriously, like what they, what they. What they trying to get.

656
00:30:01,350 --> 00:30:04,302
>> Angelina King: I can't. Some of them are

657
00:30:04,326 --> 00:30:05,806
my um, viewers too.

658
00:30:05,958 --> 00:30:08,782
>> Anthony Weaver: Okay. All right. But they don't know what

659
00:30:08,806 --> 00:30:11,550
church it is. What's one thing? What. All right, well,

660
00:30:11,590 --> 00:30:14,010
we'll, let's see. How can I reframe this?

661
00:30:14,320 --> 00:30:15,420
>> Angelina King: No, um, Anthony,

662
00:30:17,040 --> 00:30:19,780
you ain't gonna put me into this. No,

663
00:30:20,960 --> 00:30:23,688
because they'll immediately know that I'm talking About.

664
00:30:23,824 --> 00:30:26,712
>> Anthony Weaver: Okay, like, look, they

665
00:30:26,736 --> 00:30:29,592
only contributed 55. Can we bump that

666
00:30:29,616 --> 00:30:32,616
up to 20? 20,000? Like

667
00:30:32,768 --> 00:30:33,860
55.

668
00:30:34,160 --> 00:30:35,620
>> Angelina King: You ain't pulling me.

669
00:30:41,830 --> 00:30:43,510
>> Anthony Weaver: Um, well, this was

670
00:30:46,370 --> 00:30:48,842
like, you know, it's eating you up on the inside. It gotta come

671
00:30:48,866 --> 00:30:51,722
out. It's poison. You gotta share with

672
00:30:51,746 --> 00:30:52,310
us.

673
00:30:52,370 --> 00:30:54,990
>> Angelina King: Uh. Oh,

674
00:30:55,330 --> 00:30:56,750
don't make me cough.

675
00:30:58,930 --> 00:31:01,290
>> Anthony Weaver: All right, well, let's change the direction a little bit.

676
00:31:01,290 --> 00:31:03,482
Um, because we Talked about the

677
00:31:03,506 --> 00:31:06,378
W2s. We had the people with

678
00:31:06,434 --> 00:31:09,400
the nonprofits. Uh, let's get down

679
00:31:09,440 --> 00:31:12,424
to the business owners because one of this big thing that I

680
00:31:12,432 --> 00:31:15,400
heard a lot of people say that you must fill out before the

681
00:31:15,440 --> 00:31:18,280
end of 20, uh, 24, which

682
00:31:18,320 --> 00:31:20,750
is this beneficial, um,

683
00:31:21,120 --> 00:31:23,880
ownership information report or something like

684
00:31:23,920 --> 00:31:26,616
that. Can you tell us what is it

685
00:31:26,688 --> 00:31:29,060
and do we really have to file it?

686
00:31:29,680 --> 00:31:32,520
>> Angelina King: Well, right now, the latest, um, as

687
00:31:32,560 --> 00:31:35,460
of today, I don't know what the latest is. However,

688
00:31:36,390 --> 00:31:39,250
they were in, meaning the benefit,

689
00:31:39,250 --> 00:31:41,370
um, Bois for short.

690
00:31:41,970 --> 00:31:44,814
Um, it's really protecting

691
00:31:44,862 --> 00:31:47,822
the business for all LLCs that

692
00:31:47,846 --> 00:31:50,830
are registered in your state, okay? They

693
00:31:50,870 --> 00:31:53,742
want you to file. And this has been around for

694
00:31:53,766 --> 00:31:55,838
a long time. It's just the. The

695
00:31:55,894 --> 00:31:58,862
communication of when you're supposed to

696
00:31:58,886 --> 00:32:01,650
file has been the, uh, disconnect.

697
00:32:02,320 --> 00:32:05,112
So they want to make sure these LLCs are

698
00:32:05,136 --> 00:32:07,864
not laundering money, okay?

699
00:32:07,992 --> 00:32:10,660
Because whenever you set up a business account,

700
00:32:11,710 --> 00:32:14,536
um, they're going to go ahead and look at your state

701
00:32:14,608 --> 00:32:16,900
to make sure that you are,

702
00:32:17,630 --> 00:32:20,568
ah, registered and you're a legit company,

703
00:32:20,704 --> 00:32:23,512
okay? You have an EIN number, you have a

704
00:32:23,536 --> 00:32:24,660
business name,

705
00:32:25,280 --> 00:32:28,030
um, the whole nine.

706
00:32:28,180 --> 00:32:30,962
Um, so basically, the long and

707
00:32:30,986 --> 00:32:33,714
short of it, they want to make sure

708
00:32:33,802 --> 00:32:36,482
that you're not laundering money and you're a

709
00:32:36,506 --> 00:32:39,298
legitimate business, and that filing

710
00:32:39,394 --> 00:32:42,258
keeps everything on file. But right

711
00:32:42,314 --> 00:32:45,298
now, because I have an additional LLC that I did

712
00:32:45,354 --> 00:32:48,274
start that, uh, I don't have to do

713
00:32:48,282 --> 00:32:50,946
it until they get through the courts

714
00:32:51,058 --> 00:32:53,762
system because they put fear in people like,

715
00:32:53,866 --> 00:32:55,784
oh, man, I'm gonna get fined

716
00:32:55,832 --> 00:32:58,824
$549 if I don't

717
00:32:58,872 --> 00:33:01,260
file and register my business with BOI.

718
00:33:01,800 --> 00:33:04,712
Um, it protects you as the business owner, especially if

719
00:33:04,736 --> 00:33:07,368
you're doing things the right way. But

720
00:33:07,504 --> 00:33:09,976
that instance where I mentioned about the COVID

721
00:33:10,048 --> 00:33:12,840
funds, if they had that implemented back

722
00:33:12,880 --> 00:33:15,540
then, I don't think those monies will

723
00:33:16,240 --> 00:33:18,952
have been stolen the way they were, you

724
00:33:18,976 --> 00:33:21,630
know? Um,

725
00:33:22,140 --> 00:33:25,076
really, because they came in our country and they. They pretty

726
00:33:25,108 --> 00:33:27,460
much stole ball, these big old

727
00:33:27,500 --> 00:33:30,240
houses, these cars. He.

728
00:33:30,540 --> 00:33:33,360
I'm sorry, because I'm, like, trying to get people.

729
00:33:33,980 --> 00:33:35,480
>> Anthony Weaver: Like I said, it's poison,

730
00:33:37,100 --> 00:33:38,080
pretty much.

731
00:33:38,460 --> 00:33:41,188
>> Angelina King: I'm not gonna give Nobody. No ideas. No, no.

732
00:33:41,324 --> 00:33:44,196
Okay. Uh, um, just watch the show for yourself.

733
00:33:44,228 --> 00:33:46,692
And if you want ideas, hey, watch it for

734
00:33:46,716 --> 00:33:47,320
yourself.

735
00:33:49,820 --> 00:33:52,820
>> Anthony Weaver: Yeah, we, that's a, uh, but that's the

736
00:33:52,860 --> 00:33:55,460
extremes that I've seen on that show. And it's kind of

737
00:33:55,500 --> 00:33:57,844
like, okay, are you really

738
00:33:57,932 --> 00:34:00,468
utilizing the system? It's not intended,

739
00:34:00,644 --> 00:34:02,840
or actually you're,

740
00:34:03,820 --> 00:34:06,720
you just finally got caught. Because what is one thing,

741
00:34:07,160 --> 00:34:09,240
um, exactly.

742
00:34:10,220 --> 00:34:12,520
>> Angelina King: But if you want a more textbook explanation, uh,

743
00:34:13,108 --> 00:34:15,872
but that's the long and short of it. They just want to track

744
00:34:15,996 --> 00:34:18,984
to make sure that you are not, uh, and

745
00:34:18,992 --> 00:34:21,960
I'm looking it up right now, um, to make

746
00:34:22,000 --> 00:34:24,856
sure that I'm, um, compliant as well. Because

747
00:34:24,928 --> 00:34:27,416
we want to stay compliant with the U.S.

748
00:34:27,488 --> 00:34:29,832
government. Um, we want no

749
00:34:29,856 --> 00:34:32,310
visibility, not m

750
00:34:32,560 --> 00:34:34,260
here, not there.

751
00:34:35,770 --> 00:34:37,820
Um, we just want to follow the rules.

752
00:34:38,480 --> 00:34:41,448
And um, because see, right now there's

753
00:34:41,464 --> 00:34:43,837
a court order that it's been delayed.

754
00:34:43,933 --> 00:34:46,701
So once they get through all of the

755
00:34:46,725 --> 00:34:49,373
rigamarole, you know, spell that.

756
00:34:49,541 --> 00:34:50,609
But anyway,

757
00:34:51,530 --> 00:34:54,461
um, LLCs, we're going to have

758
00:34:54,485 --> 00:34:56,957
to report. And if you go to

759
00:34:57,093 --> 00:34:58,477
boi e

760
00:34:58,533 --> 00:35:02,689
filing.thinsen.gov

761
00:35:03,109 --> 00:35:05,997
and if you have any questions, any business owner

762
00:35:06,013 --> 00:35:08,877
out there, this website will give

763
00:35:08,933 --> 00:35:11,890
you more information because they

764
00:35:11,930 --> 00:35:14,738
work directly with the Corporate Transparency

765
00:35:14,834 --> 00:35:17,570
Act. Um, and that applies to all

766
00:35:17,610 --> 00:35:20,450
businesses, not so much individuals

767
00:35:20,530 --> 00:35:23,410
or independent contractors. But if

768
00:35:23,450 --> 00:35:26,110
your business is registered in the state,

769
00:35:26,410 --> 00:35:28,870
whether Florida, whether Maryland,

770
00:35:29,290 --> 00:35:31,634
Pennsylvania, all

771
00:35:31,722 --> 00:35:34,578
LLCs, you're not exempt. Even if I believe.

772
00:35:34,714 --> 00:35:37,452
I'm not sure if Puerto Rico

773
00:35:37,516 --> 00:35:40,252
is involved in this at all, you know, because

774
00:35:40,276 --> 00:35:42,012
they're part of the United States. But.

775
00:35:42,116 --> 00:35:42,630
>> Anthony Weaver: Right.

776
00:35:42,630 --> 00:35:45,292
>> Angelina King: Um, so they just want to keep down on the

777
00:35:45,316 --> 00:35:47,724
crimes of, uh, financial

778
00:35:47,812 --> 00:35:50,748
crimes. So everything's

779
00:35:50,764 --> 00:35:53,580
on a pause right now. So. But

780
00:35:53,620 --> 00:35:56,508
when that turns around, I wouldn't drag my feet and

781
00:35:56,564 --> 00:35:59,484
say I'm not gonna file because

782
00:35:59,572 --> 00:36:02,262
you don't want to fight, you know, and then

783
00:36:02,286 --> 00:36:04,822
you, your ein is probably

784
00:36:04,966 --> 00:36:07,894
earmarked, you know, um, so

785
00:36:07,902 --> 00:36:09,610
when you go buy your taxes

786
00:36:10,430 --> 00:36:13,318
or. You know, I'm not, I'm. Maybe I'm

787
00:36:13,334 --> 00:36:15,530
going to the extreme. You go to the dmv,

788
00:36:16,270 --> 00:36:19,222
you can't renew your driver's license until you take care of

789
00:36:19,246 --> 00:36:21,770
this. So I'm just kind of forward thinking

790
00:36:23,630 --> 00:36:25,730
that might not be the case. But,

791
00:36:26,630 --> 00:36:29,350
uh, think about how they did and caught a lot of people

792
00:36:29,390 --> 00:36:32,220
with who had to pay child support when

793
00:36:32,260 --> 00:36:34,080
they renew their driver's license.

794
00:36:35,700 --> 00:36:37,800
You know, some states do that.

795
00:36:38,980 --> 00:36:41,932
>> Anthony Weaver: So how to get you. Well, I

796
00:36:41,956 --> 00:36:44,748
mean, you just gotta do the right

797
00:36:44,804 --> 00:36:47,036
thing at the right time. Time is everything.

798
00:36:47,108 --> 00:36:48,764
>> Angelina King: And amen.

799
00:36:48,892 --> 00:36:50,828
>> Anthony Weaver: Yeah, we all got Deadlines.

800
00:36:51,004 --> 00:36:51,960
>> Angelina King: That's it.

801
00:36:52,340 --> 00:36:55,292
>> Anthony Weaver: Yeah. So, I mean, okay, so we got

802
00:36:55,316 --> 00:36:57,858
our understanding on that

803
00:36:57,914 --> 00:36:58,510
part.

804
00:36:58,570 --> 00:37:01,490
Um, is there anything cool and

805
00:37:01,530 --> 00:37:04,482
sexy that business owners can kind of take

806
00:37:04,506 --> 00:37:07,110
advantage of for our, uh, 2024 taxes?

807
00:37:09,290 --> 00:37:12,002
>> Angelina King: Cool and sexy is record keeping for your business

808
00:37:12,106 --> 00:37:15,026
because it'll make it easier for

809
00:37:15,178 --> 00:37:18,082
the tax professional. Because if you come to my office with

810
00:37:18,106 --> 00:37:20,962
a box of receipts like someone did a number of years

811
00:37:20,986 --> 00:37:23,932
ago, I'm gonna look at you like you at the back of the

812
00:37:23,956 --> 00:37:26,924
line. I do want to help you. I'm, uh, not going to

813
00:37:26,932 --> 00:37:29,516
turn you away, but with my new responsibilities

814
00:37:29,628 --> 00:37:32,332
now, um, I'm going to have to turn you

815
00:37:32,356 --> 00:37:32,920
away.

816
00:37:34,090 --> 00:37:36,780
Um, and there is a

817
00:37:36,820 --> 00:37:38,812
awesome app called

818
00:37:38,916 --> 00:37:41,480
4receipt.com

819
00:37:42,270 --> 00:37:45,052
um, that if you have a

820
00:37:45,076 --> 00:37:47,852
receipt, you have a bank statement,

821
00:37:47,956 --> 00:37:50,680
a credit card statement. You can link it to this,

822
00:37:51,250 --> 00:37:54,042
this app, uh, or website

823
00:37:54,226 --> 00:37:57,114
and they have a free plan and then it goes

824
00:37:57,162 --> 00:37:59,830
up from $5 to $12 a month

825
00:38:00,210 --> 00:38:02,710
to track and organize your, uh,

826
00:38:03,170 --> 00:38:05,930
your expenses. So there's no excuse. The technology

827
00:38:06,050 --> 00:38:08,890
is out there. It's almost like we

828
00:38:08,930 --> 00:38:10,950
don't want to pay for,

829
00:38:12,050 --> 00:38:14,922
to be organized. You

830
00:38:14,946 --> 00:38:17,610
know, sometimes you have to pay to be organized

831
00:38:17,690 --> 00:38:20,440
because that platform

832
00:38:21,020 --> 00:38:23,956
will organize your receipts into

833
00:38:24,028 --> 00:38:26,980
categories for you. So when you take it to your

834
00:38:27,020 --> 00:38:29,604
tax professional, it helps

835
00:38:29,732 --> 00:38:32,644
ease the issue. Because if you come to me,

836
00:38:32,812 --> 00:38:35,480
the bookkeeping fee is going to be $600

837
00:38:36,860 --> 00:38:38,000
or more.

838
00:38:38,540 --> 00:38:41,012
>> Anthony Weaver: I mean, m. You got. It's a lot for you to go

839
00:38:41,036 --> 00:38:41,604
through.

840
00:38:41,772 --> 00:38:44,740
>> Angelina King: It is. And it's time consuming because,

841
00:38:44,780 --> 00:38:47,620
look, I have to construct a P L, which

842
00:38:47,660 --> 00:38:50,452
is profit and loss statement. Oh, the

843
00:38:50,476 --> 00:38:53,412
schedule C does that for me. Ah, ah. But you got

844
00:38:53,436 --> 00:38:56,324
to organize that data for me to put it in the

845
00:38:56,332 --> 00:38:58,960
right categories. M. You know,

846
00:38:59,260 --> 00:39:02,052
um, and then, you know, if you making a little

847
00:39:02,076 --> 00:39:05,000
bit over 50,000 or plus,

848
00:39:05,580 --> 00:39:07,560
you, you want a balance sheet,

849
00:39:08,380 --> 00:39:11,230
you know, and it has your

850
00:39:11,270 --> 00:39:13,886
assets, your liabilities, owner's

851
00:39:13,918 --> 00:39:16,542
equity, and a cash flow

852
00:39:16,606 --> 00:39:18,990
statement. So we know what cash is coming in and

853
00:39:19,030 --> 00:39:21,262
out. Um, and then a trial

854
00:39:21,326 --> 00:39:23,982
balance. These are basics. Go to the

855
00:39:24,006 --> 00:39:26,250
irs.gov it tells you

856
00:39:26,950 --> 00:39:27,726
think, um, I'm lying.

857
00:39:27,758 --> 00:39:30,654
>> Anthony Weaver: Go to irs.gov well, no, I

858
00:39:30,662 --> 00:39:31,198
believe you.

859
00:39:31,254 --> 00:39:33,934
>> Angelina King: Like I know you.

860
00:39:34,102 --> 00:39:36,622
I'm telling your, your audience here, you

861
00:39:36,646 --> 00:39:39,556
know. Um, yeah, so record keeping

862
00:39:39,588 --> 00:39:42,276
is very important for our small business

863
00:39:42,348 --> 00:39:43,520
owners because

864
00:39:45,580 --> 00:39:48,260
it makes it easier for your tax professional. It really

865
00:39:48,300 --> 00:39:51,120
does. And it keeps your costs down.

866
00:39:51,660 --> 00:39:54,660
>> Anthony Weaver: Okay. And the IRS does, uh, for

867
00:39:54,700 --> 00:39:57,636
people who are wondering, they do give you a nice lovely

868
00:39:57,748 --> 00:40:00,516
28 page PDF on how to do your records

869
00:40:00,548 --> 00:40:02,804
keeping. Um, and if you want a cheat

870
00:40:02,852 --> 00:40:05,650
Code to use AI to help you out.

871
00:40:05,950 --> 00:40:08,758
Take this PDF, slide it on over to Chat GPT

872
00:40:08,854 --> 00:40:11,490
and say, hey, generate me a

873
00:40:12,190 --> 00:40:14,726
Excel sheet or spreadsheet

874
00:40:14,918 --> 00:40:17,462
with this information so that I can do my

875
00:40:17,486 --> 00:40:18,262
taxes.

876
00:40:18,406 --> 00:40:19,446
>> Angelina King: There you go.

877
00:40:19,598 --> 00:40:22,502
>> Anthony Weaver: Yeah. And it would extract it. And actually on this PDF, they do

878
00:40:22,526 --> 00:40:25,398
give you all the columns and rows on

879
00:40:25,454 --> 00:40:28,422
what you need for each one. So this is actually great. They give

880
00:40:28,446 --> 00:40:31,158
you great examples on pages starting on

881
00:40:31,214 --> 00:40:33,976
page, uh, 18

882
00:40:34,048 --> 00:40:35,180
on a PDF.

883
00:40:36,320 --> 00:40:37,432
>> Angelina King: Good information.

884
00:40:37,616 --> 00:40:38,104
>> Anthony Weaver: Yep.

885
00:40:38,152 --> 00:40:38,740
>> Angelina King: Right.

886
00:40:39,920 --> 00:40:41,752
>> Anthony Weaver: Teamwork. We got this. All right.

887
00:40:41,776 --> 00:40:43,256
>> Angelina King: I think that's it.

888
00:40:43,408 --> 00:40:43,912
>> Anthony Weaver: Yeah.

889
00:40:43,976 --> 00:40:45,700
So, uh, so with you

890
00:40:47,040 --> 00:40:49,800
just, um, to kind of let people know, like, if

891
00:40:49,840 --> 00:40:52,820
somebody's out there and they was like, yeah, I really want to become,

892
00:40:53,520 --> 00:40:56,440
start, uh, working in taxes. Where could

893
00:40:56,480 --> 00:40:59,432
they go or what should they do? What are the best steps for

894
00:40:59,456 --> 00:41:00,020
them?

895
00:41:00,380 --> 00:41:03,028
>> Angelina King: The best steps is getting like an overview on

896
00:41:03,084 --> 00:41:05,652
what taxes means to you.

897
00:41:05,836 --> 00:41:08,612
Because you got to be detail

898
00:41:08,716 --> 00:41:11,360
oriented. If you want to do this,

899
00:41:11,740 --> 00:41:14,740
anyone can. Um, the

900
00:41:14,780 --> 00:41:17,700
steps, and I'll take it a little step further. If you

901
00:41:17,740 --> 00:41:20,280
want to run your own tax firm,

902
00:41:21,100 --> 00:41:23,860
um, the first step for the

903
00:41:23,900 --> 00:41:26,822
basic is to get a P10 that

904
00:41:26,846 --> 00:41:29,490
is a personal tax identification number.

905
00:41:29,870 --> 00:41:32,470
And you can get that at the IRS website. You

906
00:41:32,510 --> 00:41:34,934
register. I think now they're charging

907
00:41:34,982 --> 00:41:37,942
people like 1995

908
00:41:38,046 --> 00:41:40,534
to, um, either doing a

909
00:41:40,622 --> 00:41:43,462
renewal or start it because at one time

910
00:41:43,486 --> 00:41:46,182
it used to be free and anybody could do

911
00:41:46,206 --> 00:41:49,142
taxes. And that's when a lot of people

912
00:41:49,166 --> 00:41:51,000
got in trouble. But anyway, um,

913
00:41:52,560 --> 00:41:54,300
were fraudulent

914
00:41:54,960 --> 00:41:57,736
and, um, learn and get

915
00:41:57,808 --> 00:42:00,480
mentored by someone, you know, um,

916
00:42:01,200 --> 00:42:04,104
I'm willing to do that. I'm mentoring someone right now

917
00:42:04,272 --> 00:42:06,632
who's making a transition from corporate

918
00:42:06,696 --> 00:42:09,112
into trying to figure out they want to do

919
00:42:09,136 --> 00:42:11,832
taxes. You, um, got to be passionate about

920
00:42:11,936 --> 00:42:14,840
what you really want to do. And if this

921
00:42:14,880 --> 00:42:17,870
tax going to be your,

922
00:42:17,870 --> 00:42:20,220
um, your next step,

923
00:42:20,920 --> 00:42:23,872
be passionate about, don't just do it. Oh, I can get, I can

924
00:42:23,896 --> 00:42:25,380
make X amount of dollars

925
00:42:26,840 --> 00:42:29,696
in, in three months, period. That's

926
00:42:29,728 --> 00:42:32,592
great. However, you're gonna run yourself into the

927
00:42:32,616 --> 00:42:35,472
ground, um, because it's no joke. It really

928
00:42:35,496 --> 00:42:38,368
isn't. Um, and the next

929
00:42:38,424 --> 00:42:41,200
thing, make sure you have a heart for

930
00:42:41,240 --> 00:42:44,240
serving because people have

931
00:42:44,280 --> 00:42:47,050
real issues. Um, I

932
00:42:47,090 --> 00:42:48,870
wasn't prepared for that, but,

933
00:42:49,780 --> 00:42:52,490
um, in a sense I was because that was my

934
00:42:52,530 --> 00:42:55,386
training. From leaping from corporate America

935
00:42:55,418 --> 00:42:58,074
to business owner and then

936
00:42:58,242 --> 00:43:01,018
back into corporate America. Uh, people

937
00:43:01,074 --> 00:43:03,930
have real issues, uh, not aside from

938
00:43:03,970 --> 00:43:06,554
your, uh, tax, uh, filing,

939
00:43:06,602 --> 00:43:09,514
because you're a counselor. Especially

940
00:43:09,602 --> 00:43:12,340
if you want to have a, you know,

941
00:43:12,380 --> 00:43:14,468
present the tax document to that

942
00:43:14,524 --> 00:43:17,204
taxpayer via zoom or

943
00:43:17,292 --> 00:43:20,036
in person. You have to Love

944
00:43:20,108 --> 00:43:22,660
people, you know, don't just love the

945
00:43:22,700 --> 00:43:25,700
money. Um, the money will

946
00:43:25,740 --> 00:43:28,720
come. Don't chase the money. The money will come.

947
00:43:29,020 --> 00:43:31,684
And if you do a great, excellent, phenomenal

948
00:43:31,732 --> 00:43:34,340
job, you get so many

949
00:43:34,380 --> 00:43:36,960
referrals like, oh man, she's good, he's good.

950
00:43:37,490 --> 00:43:40,350
And then it builds your, your confidence

951
00:43:40,770 --> 00:43:43,030
and rapport. You don't have to know

952
00:43:43,650 --> 00:43:46,586
everything about taxes. Just

953
00:43:46,658 --> 00:43:49,562
know that if there's something you

954
00:43:49,586 --> 00:43:52,538
don't know, and I've said this several times,

955
00:43:52,674 --> 00:43:55,434
let me look into that and I'll get back with you.

956
00:43:55,522 --> 00:43:58,522
All right, so find a

957
00:43:58,546 --> 00:44:01,450
mentor, um, kind

958
00:44:01,490 --> 00:44:04,090
of let them, you know, you can shadow under

959
00:44:04,130 --> 00:44:06,630
them. And uh, I do

960
00:44:06,670 --> 00:44:09,318
mentoring, I do. So if anybody wants to reach

961
00:44:09,374 --> 00:44:12,214
out, um, I definitely

962
00:44:12,342 --> 00:44:14,598
will be more than willing and be

963
00:44:14,654 --> 00:44:17,302
committed. Because if we set up a

964
00:44:17,326 --> 00:44:20,070
time, you know, an hour, maybe two

965
00:44:20,110 --> 00:44:22,438
hours to go over your goals

966
00:44:22,534 --> 00:44:25,366
first. And what is your strategy

967
00:44:25,398 --> 00:44:28,326
for learning how to do taxes? There are tax

968
00:44:28,398 --> 00:44:30,678
schools. Because I'm not going to teach you. There are tax

969
00:44:30,734 --> 00:44:33,560
schools. I'm, um, not going to name those. You can

970
00:44:33,600 --> 00:44:35,820
do your chat, DPT

971
00:44:37,120 --> 00:44:39,448
research, uh, on that, or

972
00:44:39,584 --> 00:44:41,816
Google, copilot,

973
00:44:41,928 --> 00:44:44,620
whatever. And those tax schools,

974
00:44:44,870 --> 00:44:47,620
um, they do charge, it's not free.

975
00:44:47,920 --> 00:44:50,820
And you can do an online class or

976
00:44:51,120 --> 00:44:53,940
certain, um, certain

977
00:44:54,240 --> 00:44:57,160
big, uh, box. I'm not going to mention those, but they

978
00:44:57,200 --> 00:44:59,220
offer classes in your city

979
00:44:59,710 --> 00:45:02,470
and that's how you get your foot in. But that

980
00:45:02,510 --> 00:45:05,330
P10 is, is going to be

981
00:45:07,230 --> 00:45:10,182
probably one of your first steps, you know, and

982
00:45:10,206 --> 00:45:12,470
then just

983
00:45:12,590 --> 00:45:15,270
observe, uh, absorb the

984
00:45:15,310 --> 00:45:18,054
information. There are probably YouTube videos

985
00:45:18,102 --> 00:45:20,918
that there's classes because I know one

986
00:45:21,054 --> 00:45:24,006
particular software company, they offer some classes

987
00:45:24,038 --> 00:45:26,882
on YouTube, so you could do that. But if

988
00:45:26,906 --> 00:45:29,554
you want to navigate and go into

989
00:45:29,722 --> 00:45:32,418
owning your own firm, just

990
00:45:32,474 --> 00:45:35,310
know the FBI is gonna look at your back

991
00:45:38,250 --> 00:45:39,970
seriously, because you're gonna be

992
00:45:40,090 --> 00:45:42,818
fingerprinted. And that

993
00:45:42,874 --> 00:45:45,714
process takes six to whatever

994
00:45:45,762 --> 00:45:48,610
weeks. They probably shorten the time now because they're going

995
00:45:48,650 --> 00:45:51,074
into your background, they're guaranteeing your financial

996
00:45:51,162 --> 00:45:54,152
health. Um, even every year

997
00:45:54,176 --> 00:45:57,170
when I take this refresher course, um,

998
00:45:57,170 --> 00:46:00,168
they ask if my taxes are up to date. Because

999
00:46:00,224 --> 00:46:03,112
before you can even say, I'm going to sit

1000
00:46:03,136 --> 00:46:05,460
down for this three hour test,

1001
00:46:06,640 --> 00:46:09,140
have all your ducks in a row because.

1002
00:46:09,440 --> 00:46:11,512
And then when you file for that, it's called an

1003
00:46:11,536 --> 00:46:14,340
ein and you already have your P10,

1004
00:46:14,640 --> 00:46:17,538
they're gonna, uh, they're

1005
00:46:17,554 --> 00:46:20,498
gonna, they probably gonna scrape you to the coals

1006
00:46:20,594 --> 00:46:23,474
because this boi is,

1007
00:46:23,642 --> 00:46:26,530
is now going to probably be in effect later this

1008
00:46:26,570 --> 00:46:29,070
year. We don't know due to the federal

1009
00:46:29,530 --> 00:46:32,418
court order, but that takes A while.

1010
00:46:32,474 --> 00:46:35,426
But during that time of waiting, continue

1011
00:46:35,498 --> 00:46:38,034
to get mentored. You know, come up with your business

1012
00:46:38,122 --> 00:46:40,930
name. Um, start

1013
00:46:40,970 --> 00:46:43,950
with social media, because social media is

1014
00:46:44,630 --> 00:46:47,450
free. You know, talk to

1015
00:46:47,910 --> 00:46:50,350
local tax, uh, businesses in your

1016
00:46:50,390 --> 00:46:50,926
area.

1017
00:46:51,078 --> 00:46:52,334
>> Anthony Weaver: Podcasters.

1018
00:46:52,462 --> 00:46:55,262
>> Angelina King: Yeah, podcasters, yes.

1019
00:46:55,326 --> 00:46:57,830
Come to atw and,

1020
00:46:57,830 --> 00:47:00,670
um, he will help you

1021
00:47:00,710 --> 00:47:01,290
out.

1022
00:47:03,910 --> 00:47:06,558
But, uh, great question. But if

1023
00:47:06,614 --> 00:47:09,294
anybody wants any more detailed

1024
00:47:09,342 --> 00:47:12,250
information on how I got started, I

1025
00:47:12,290 --> 00:47:14,950
believe you need to go to, um.

1026
00:47:14,950 --> 00:47:16,938
>> Anthony Weaver: The first time we interviewed you.

1027
00:47:17,074 --> 00:47:19,818
>> Angelina King: Yeah, about that. While this first

1028
00:47:19,874 --> 00:47:22,842
episode, when you see me and I kind of talked about how

1029
00:47:22,866 --> 00:47:25,834
I fell into it, um, I've been doing taxes

1030
00:47:25,882 --> 00:47:28,522
for years, um, ever since I was in

1031
00:47:28,546 --> 00:47:31,482
college. Because I was talking about that the other day and

1032
00:47:31,506 --> 00:47:34,362
I said one of the big box companies didn't put

1033
00:47:34,386 --> 00:47:37,002
me on the schedule because, see, I was telling it all.

1034
00:47:37,106 --> 00:47:39,772
Like, you see what they're charging you?

1035
00:47:39,956 --> 00:47:42,796
You know, I have this big smile on my face. You know,

1036
00:47:42,868 --> 00:47:45,756
here's my number. Call me after.

1037
00:47:45,828 --> 00:47:47,884
I could tell you how to fill out this form.

1038
00:47:48,052 --> 00:47:50,892
>> Anthony Weaver: So you like the father on the Incredibles. Do

1039
00:47:50,916 --> 00:47:53,180
you not file Form

1040
00:47:53,300 --> 00:47:56,156
10 7A. Do not

1041
00:47:56,228 --> 00:47:58,880
put your name on this box.

1042
00:48:00,660 --> 00:48:03,606
>> Angelina King: And people used to ask, what happened to Angela? They didn't

1043
00:48:03,638 --> 00:48:06,490
put me on the schedule. I didn't even know I was fired.

1044
00:48:08,030 --> 00:48:10,982
Didn't even know. But I have

1045
00:48:11,006 --> 00:48:13,410
a heart. Heart for serving people,

1046
00:48:13,710 --> 00:48:16,210
you know, um,

1047
00:48:16,210 --> 00:48:18,934
and at first I was doing it for the money. And I

1048
00:48:18,942 --> 00:48:21,814
wasn't happy. I wasn't. I was doing for the

1049
00:48:21,822 --> 00:48:22,726
wrong reasons.

1050
00:48:22,838 --> 00:48:23,222
>> Anthony Weaver: Yeah.

1051
00:48:23,286 --> 00:48:25,718
>> Angelina King: And so I had to. I was

1052
00:48:25,774 --> 00:48:28,710
like, ah, you know, I was a podcast

1053
00:48:28,790 --> 00:48:31,716
or something. I listened to that, said, don't chase

1054
00:48:31,748 --> 00:48:34,612
the money. It was the partnership I was in, and I saw how

1055
00:48:34,636 --> 00:48:37,476
they operated and I think the good Lord

1056
00:48:37,508 --> 00:48:40,180
wanted me to see that. Uh, because you can't just

1057
00:48:40,220 --> 00:48:43,060
nickel and dime people. Because,

1058
00:48:43,100 --> 00:48:45,720
see, the one person I help can send me 10 clients.

1059
00:48:46,300 --> 00:48:47,040
>> Anthony Weaver: Right.

1060
00:48:48,060 --> 00:48:50,360
>> Angelina King: So you got to have that perspective.

1061
00:48:50,830 --> 00:48:53,524
Um, but they were teaching how to nickel and

1062
00:48:53,532 --> 00:48:56,000
dime. That's not right.

1063
00:48:56,790 --> 00:48:58,894
Because you don't like to be neck of the line.

1064
00:48:59,062 --> 00:49:01,902
>> Anthony Weaver: No, no. I mean, we already get

1065
00:49:01,926 --> 00:49:04,830
nickel down every time we look at a subscription. I mean, the last

1066
00:49:04,870 --> 00:49:07,250
thing we'll do is get nickel and dime on our taxes.

1067
00:49:07,670 --> 00:49:10,622
>> Angelina King: Correct. Yeah. And I mean,

1068
00:49:10,806 --> 00:49:13,530
it's not about how much refund they get.

1069
00:49:13,990 --> 00:49:16,318
It's about helping them lower their tax

1070
00:49:16,374 --> 00:49:19,262
liability and educating them on the

1071
00:49:19,286 --> 00:49:21,742
law. Because the IRS ain't going to tell you they're just matter of

1072
00:49:21,766 --> 00:49:24,058
fact. Just m. Call them

1073
00:49:24,114 --> 00:49:27,082
sometimes. Don't tell your life story. Just tell them what you

1074
00:49:27,106 --> 00:49:29,630
need. Pause

1075
00:49:30,770 --> 00:49:33,738
and get Your information and hang up. Because if you open

1076
00:49:33,794 --> 00:49:36,522
that can of worms, they're taking notes, the

1077
00:49:36,546 --> 00:49:39,482
calls are recorded. Don't tell them your

1078
00:49:39,506 --> 00:49:42,202
life story. Take it from me. Don't, don't do

1079
00:49:42,226 --> 00:49:42,790
it.

1080
00:49:43,250 --> 00:49:46,058
>> Anthony Weaver: So, um, because I got one burning

1081
00:49:46,154 --> 00:49:48,892
question. Um, because a lot of people

1082
00:49:48,996 --> 00:49:51,964
are new to taxes or listening to

1083
00:49:51,972 --> 00:49:53,240
the show that's new.

1084
00:49:53,660 --> 00:49:56,572
Um, which is what are

1085
00:49:56,596 --> 00:49:59,324
your thoughts on getting a refund versus not getting a

1086
00:49:59,332 --> 00:50:02,284
refund and you actually got to pay? I know it's a

1087
00:50:02,292 --> 00:50:03,640
common question, but.

1088
00:50:04,200 --> 00:50:06,600
>> Angelina King: Um, actually it's a great question because

1089
00:50:07,540 --> 00:50:10,492
refunds are interest free money that you're leaving on

1090
00:50:10,516 --> 00:50:13,240
the table for the IRS to use

1091
00:50:14,120 --> 00:50:16,992
until you claim it. Refunds could

1092
00:50:17,016 --> 00:50:19,744
be great, especially for that single

1093
00:50:19,792 --> 00:50:22,480
mother, um, or I'll say it like this

1094
00:50:22,520 --> 00:50:25,328
because politically correct mother with kids,

1095
00:50:25,504 --> 00:50:28,112
you know, um, because some people are

1096
00:50:28,136 --> 00:50:29,980
offended by that single mom,

1097
00:50:30,440 --> 00:50:33,140
but mother that has kids,

1098
00:50:33,560 --> 00:50:36,160
she needs that tax credit, those non

1099
00:50:36,200 --> 00:50:38,920
refundable credits, um,

1100
00:50:38,930 --> 00:50:41,882
to raise their kids, you know, because if the father's not

1101
00:50:41,906 --> 00:50:44,794
in their life, you know, some would.

1102
00:50:44,882 --> 00:50:47,370
Some women do not put their, um,

1103
00:50:48,290 --> 00:50:51,066
exes on child support. So

1104
00:50:51,218 --> 00:50:53,190
getting a refund is,

1105
00:50:54,180 --> 00:50:56,390
um, interest free money

1106
00:50:57,010 --> 00:50:59,978
that you've loaned to the IRS until you claim

1107
00:51:00,034 --> 00:51:02,910
it. Okay, Owing.

1108
00:51:04,380 --> 00:51:06,840
This is the flip side of it. If you owe,

1109
00:51:08,140 --> 00:51:10,500
the IRS is going to charge you interest and

1110
00:51:10,540 --> 00:51:12,760
penalties because you didn't,

1111
00:51:13,180 --> 00:51:16,100
especially with your W2, you're not

1112
00:51:16,140 --> 00:51:18,520
in line with the tax withholding.

1113
00:51:19,100 --> 00:51:22,080
And, um, you're taking a little too much.

1114
00:51:22,760 --> 00:51:25,684
Uh, no, I'm sorry, you're not taking enough withholding

1115
00:51:25,732 --> 00:51:28,040
out of your, your uh,

1116
00:51:28,428 --> 00:51:31,172
paycheck. Because let's see, again, like I

1117
00:51:31,196 --> 00:51:34,132
mentioned earlier, it's about strategy for some because they want all

1118
00:51:34,156 --> 00:51:37,094
their money now. But just know at

1119
00:51:37,102 --> 00:51:39,890
the end of the year you're going to have to pay. Because

1120
00:51:40,590 --> 00:51:43,158
now that W2 is kind of like your

1121
00:51:43,214 --> 00:51:45,690
15.3% in taxes.

1122
00:51:46,390 --> 00:51:49,014
Um, because if you're a 1099

1123
00:51:49,182 --> 00:51:51,846
earner, that's what you're being charged for self

1124
00:51:51,878 --> 00:51:54,806
employment tax. 15.3%. That's

1125
00:51:54,838 --> 00:51:57,370
the portion of the Social Security, Medicare,

1126
00:51:58,150 --> 00:52:00,790
um, the FICA. And they said,

1127
00:52:00,830 --> 00:52:02,912
well, you made 50,000, we need

1128
00:52:02,936 --> 00:52:05,872
15.3% of that. Especially if

1129
00:52:05,896 --> 00:52:08,620
you don't have any expenses to write off, which I don't believe.

1130
00:52:09,400 --> 00:52:12,192
Oh, I made 50,000 or 1099 and I didn't have any

1131
00:52:12,216 --> 00:52:14,900
expenses. Okay, you just lazy.

1132
00:52:18,120 --> 00:52:20,800
You are. But you mean you at

1133
00:52:20,840 --> 00:52:22,820
home remotely.

1134
00:52:24,040 --> 00:52:26,944
>> Anthony Weaver: You ain't paying on the net, huh? So you

1135
00:52:26,952 --> 00:52:28,096
ain't paying no Internet or something?

1136
00:52:28,168 --> 00:52:31,040
>> Angelina King: Exactly. Internet. You didn't use your cell phone

1137
00:52:31,200 --> 00:52:33,536
Right. The electricity that

1138
00:52:33,688 --> 00:52:36,096
helps run the laptop.

1139
00:52:36,288 --> 00:52:39,232
>> Anthony Weaver: Right. Might not

1140
00:52:39,256 --> 00:52:41,490
have to get new equipment, but some, um.

1141
00:52:42,920 --> 00:52:44,620
>> Angelina King: You didn't eat that day.

1142
00:52:46,840 --> 00:52:48,032
>> Anthony Weaver: Did you get a haircut?

1143
00:52:48,096 --> 00:52:50,864
>> Angelina King: Like, it boggles my mind

1144
00:52:50,952 --> 00:52:53,936
that some of the time, you know? And that's

1145
00:52:53,968 --> 00:52:56,736
why I'm here to help and serve because. And educate

1146
00:52:56,768 --> 00:52:59,000
because you're 10.99.

1147
00:52:59,940 --> 00:53:02,396
You. You drank something you didn't

1148
00:53:02,428 --> 00:53:05,320
drink. You drink some water,

1149
00:53:06,070 --> 00:53:08,240
uh, a, uh, coke, some juice.

1150
00:53:08,580 --> 00:53:11,000
>> Anthony Weaver: You put the. Put the water bill on there, too.

1151
00:53:12,260 --> 00:53:15,212
>> Angelina King: Utilities, it's on your schedule C. So it

1152
00:53:15,236 --> 00:53:18,028
just amazes me, like, well, how are you

1153
00:53:18,084 --> 00:53:20,780
functioning? Because I

1154
00:53:20,820 --> 00:53:23,810
gotta eat every. You know, I have to eat at least three, four

1155
00:53:23,850 --> 00:53:24,910
meals a day.

1156
00:53:25,210 --> 00:53:27,890
>> Anthony Weaver: Oh, uh, I need to be on your schedule because I only do it like,

1157
00:53:27,930 --> 00:53:28,550
twice.

1158
00:53:29,930 --> 00:53:32,802
>> Angelina King: You know, I tried that. I be so hungry when I get

1159
00:53:32,826 --> 00:53:35,730
up in the morning. It's like, no, and I'm too

1160
00:53:35,770 --> 00:53:37,550
skinny for that. I'm like,

1161
00:53:38,890 --> 00:53:41,330
I need food. That

1162
00:53:41,370 --> 00:53:44,110
metabolism has not slowed down for me.

1163
00:53:44,540 --> 00:53:46,630
Um, but anyway.

1164
00:53:47,770 --> 00:53:49,060
But yeah, um,

1165
00:53:50,530 --> 00:53:51,750
what was I saying?

1166
00:53:53,250 --> 00:53:55,850
>> Anthony Weaver: You're talking about the, uh, the 1099 folks.

1167
00:53:55,930 --> 00:53:58,506
>> Angelina King: Yeah, well, you were asking about liability and refunds.

1168
00:53:58,538 --> 00:54:00,030
Okay. But yeah.

1169
00:54:00,030 --> 00:54:02,858
Um, so getting

1170
00:54:02,914 --> 00:54:05,594
a refund is not always the best thing.

1171
00:54:05,682 --> 00:54:08,682
But I understand the strategy. But even if you're a

1172
00:54:08,706 --> 00:54:11,642
single dad, that's refundable credits you're leaving on

1173
00:54:11,666 --> 00:54:14,630
the table that the IRS says you can come get,

1174
00:54:14,940 --> 00:54:17,364
you know, um, when you find your tax return,

1175
00:54:17,452 --> 00:54:19,988
because the children under the age of

1176
00:54:20,044 --> 00:54:22,804
17, you're allocated $2,000

1177
00:54:22,932 --> 00:54:25,684
a child and then some because of your income

1178
00:54:25,732 --> 00:54:28,692
level. Um, you get

1179
00:54:28,716 --> 00:54:31,460
the additional child tax credit. But as

1180
00:54:31,500 --> 00:54:33,240
your income increases,

1181
00:54:33,900 --> 00:54:36,692
that additional child

1182
00:54:36,796 --> 00:54:39,396
tax credit is almost obsolete.

1183
00:54:39,588 --> 00:54:42,324
>> Anthony Weaver: You know, can it work out for caregivers? Because

1184
00:54:42,412 --> 00:54:45,092
with the sandwich generation, they taking care of their parents

1185
00:54:45,156 --> 00:54:46,320
or something like.

1186
00:54:46,940 --> 00:54:49,320
>> Angelina King: Yes, that you get, um,

1187
00:54:49,900 --> 00:54:52,692
500 allocation because they're considered

1188
00:54:52,756 --> 00:54:55,380
other dependents. You

1189
00:54:55,420 --> 00:54:57,956
know, they're not so much the child.

1190
00:54:58,108 --> 00:54:58,516
>> Anthony Weaver: Right.

1191
00:54:58,588 --> 00:55:01,396
>> Angelina King: They're the other dependent. And that allocation

1192
00:55:01,428 --> 00:55:04,420
is 500 per person. Because I do

1193
00:55:04,460 --> 00:55:07,160
a case study. She's taking care of her grandmother.

1194
00:55:07,640 --> 00:55:09,440
Um, and I had to convince her,

1195
00:55:09,940 --> 00:55:12,612
uh, a number of years ago, you're head of

1196
00:55:12,636 --> 00:55:15,532
household. Um, why are

1197
00:55:15,556 --> 00:55:18,160
you. Because she kept asking, why am I paying

1198
00:55:18,540 --> 00:55:21,052
m taxes every year? You know, I have a

1199
00:55:21,076 --> 00:55:24,012
liability every year. So we just go

1200
00:55:24,036 --> 00:55:26,956
through our list and ask some questions and build that rapport

1201
00:55:26,988 --> 00:55:29,932
with that. That client, because people will tell you

1202
00:55:29,956 --> 00:55:32,732
anything. And I've heard a lot, I

1203
00:55:32,756 --> 00:55:33,320
bet,

1204
00:55:35,620 --> 00:55:38,380
you know, But I think this is what, uh, the good

1205
00:55:38,420 --> 00:55:41,260
Lord has me to do right now. And

1206
00:55:41,260 --> 00:55:43,976
um, this is my assignment,

1207
00:55:44,088 --> 00:55:47,016
and I love it some days. And some days it's

1208
00:55:47,048 --> 00:55:49,832
like I want to fix it, but I know I can't.

1209
00:55:49,896 --> 00:55:52,632
Only thing I m. Do is pray and

1210
00:55:52,736 --> 00:55:55,640
ask God to guide them, because you

1211
00:55:55,680 --> 00:55:58,440
can't make their problem your own because you go

1212
00:55:58,480 --> 00:56:01,368
crazy, really. But I am

1213
00:56:01,424 --> 00:56:03,864
empathetic to a lot of situations, especially.

1214
00:56:04,032 --> 00:56:07,010
Especially this week. The people are

1215
00:56:07,050 --> 00:56:09,346
going through some real issues. They really are.

1216
00:56:09,498 --> 00:56:11,270
>> Anthony Weaver: Yeah, yeah,

1217
00:56:11,930 --> 00:56:14,594
yeah. Um, well, hopefully it'll all iron

1218
00:56:14,642 --> 00:56:17,570
out by next year. We get to see if there's any

1219
00:56:17,610 --> 00:56:20,466
cool things that we can actually take advantage of, because

1220
00:56:20,538 --> 00:56:22,590
the tax code changes every year,

1221
00:56:23,850 --> 00:56:26,530
and so we got to stay on top of it. And

1222
00:56:26,650 --> 00:56:29,370
I appreciate you coming on every year. Um,

1223
00:56:29,370 --> 00:56:32,242
I do have a different set of final questions. Are you up

1224
00:56:32,266 --> 00:56:32,990
for them?

1225
00:56:33,330 --> 00:56:34,190
>> Angelina King: Okay.

1226
00:56:36,210 --> 00:56:39,018
I don't even know what they are I am up for. Yeah,

1227
00:56:39,194 --> 00:56:40,390
let's do it.

1228
00:56:41,250 --> 00:56:42,170
>> Anthony Weaver: Dive right on in.

1229
00:56:42,210 --> 00:56:44,950
I'm glad you trust me. Let's go.

1230
00:56:46,530 --> 00:56:48,970
I don't know. You might be like, you know what? I ain't coming back next

1231
00:56:49,010 --> 00:56:49,590
year.

1232
00:56:49,910 --> 00:56:52,890
>> Angelina King: Uh, I won't do you like that. If I say

1233
00:56:52,930 --> 00:56:54,666
no comment, I'll just keep moving.

1234
00:56:54,778 --> 00:56:55,630
>> Anthony Weaver: Okay.

1235
00:57:03,280 --> 00:57:05,300
All right, so, number one,

1236
00:57:06,080 --> 00:57:08,920
what would you give your younger self? I mean,

1237
00:57:08,960 --> 00:57:11,656
if you could give your younger self one piece of advice,

1238
00:57:11,768 --> 00:57:13,060
what would it be?

1239
00:57:14,320 --> 00:57:17,112
>> Angelina King: That's a great question. Um, the one

1240
00:57:17,136 --> 00:57:19,560
piece of advice, and this is authentic and

1241
00:57:19,600 --> 00:57:22,504
genuine, is to speak

1242
00:57:22,552 --> 00:57:25,192
up. Because

1243
00:57:25,376 --> 00:57:27,816
there was such a long time I just been

1244
00:57:27,888 --> 00:57:30,750
quiet and observe, because

1245
00:57:30,790 --> 00:57:33,290
that's how I. I kind of learn from people.

1246
00:57:34,230 --> 00:57:36,910
And I am. I observe my

1247
00:57:36,950 --> 00:57:39,870
entire environment. And for you

1248
00:57:39,910 --> 00:57:41,850
to be in a thriving environment

1249
00:57:43,190 --> 00:57:46,190
and communicate, you got to

1250
00:57:46,230 --> 00:57:49,182
talk. And, uh, you

1251
00:57:49,206 --> 00:57:52,206
know, I could be winded. And this is. This is

1252
00:57:52,278 --> 00:57:55,200
a process that I really had to. To

1253
00:57:55,240 --> 00:57:58,112
kind of leave behind. So, yeah, tell my younger self to

1254
00:57:58,136 --> 00:57:58,940
speak up.

1255
00:57:59,240 --> 00:58:02,220
>> Anthony Weaver: Okay. Number two,

1256
00:58:03,240 --> 00:58:05,968
what's a money habit you swear by

1257
00:58:06,104 --> 00:58:09,020
that has made the biggest difference in your life?

1258
00:58:10,360 --> 00:58:13,060
>> Angelina King: Stop spending unnecessary

1259
00:58:13,720 --> 00:58:16,368
dollars because it adds

1260
00:58:16,464 --> 00:58:19,456
up. I am right now challenging

1261
00:58:19,488 --> 00:58:21,180
myself because I came off a,

1262
00:58:21,790 --> 00:58:24,612
uh, 20, uh, one day fast, because I do that

1263
00:58:24,636 --> 00:58:27,572
every year, you know, with my church. And even if I

1264
00:58:27,596 --> 00:58:30,404
didn't do it with my church, I would do it because you need to

1265
00:58:30,412 --> 00:58:33,252
cleanse all that stuff out, you know, And.

1266
00:58:33,436 --> 00:58:36,212
And it's not so much about the food. It's your connection with

1267
00:58:36,236 --> 00:58:39,060
God. So I would. And I'm not. Right now.

1268
00:58:39,100 --> 00:58:41,876
I am with, um, I.

1269
00:58:41,948 --> 00:58:44,628
This is my own personal challenge. I want to see where

1270
00:58:44,684 --> 00:58:47,604
every dollar is being spent. So I'm, like, on a financial

1271
00:58:47,692 --> 00:58:48,244
fast.

1272
00:58:48,372 --> 00:58:49,220
>> Anthony Weaver: There you go.

1273
00:58:49,340 --> 00:58:51,940
>> Angelina King: If I don't need it, I. I don't buy

1274
00:58:51,980 --> 00:58:54,852
it. So, um. And you got

1275
00:58:54,876 --> 00:58:57,680
to know where every dollar is going

1276
00:58:58,060 --> 00:59:00,900
from your. From your more. And pay the

1277
00:59:00,940 --> 00:59:03,620
most important things first, because

1278
00:59:03,740 --> 00:59:06,360
I've seen people. Anthony.

1279
00:59:06,700 --> 00:59:09,588
Oh, I don't know how I'm gonna pay my mortgage. Well, then you should have paid

1280
00:59:09,604 --> 00:59:10,320
that first.

1281
00:59:13,260 --> 00:59:14,000
>> Anthony Weaver: Good.

1282
00:59:15,980 --> 00:59:16,760
>> Angelina King: Hello.

1283
00:59:17,180 --> 00:59:18,040
>> Anthony Weaver: True.

1284
00:59:19,150 --> 00:59:22,100
>> Angelina King: Um, I didn't pay my car insurance.

1285
00:59:22,260 --> 00:59:24,660
That's one of the other things that you need to pay

1286
00:59:24,780 --> 00:59:27,476
first. Well, ultimately,

1287
00:59:27,588 --> 00:59:29,680
let me. Let me take a step back,

1288
00:59:31,260 --> 00:59:33,160
because I'm gonna get a little scriptural.

1289
00:59:33,890 --> 00:59:36,692
Um, and not so much. You

1290
00:59:36,716 --> 00:59:39,572
need to actually, if you're a tither, pay

1291
00:59:39,596 --> 00:59:42,238
your tithes first time because you got 90%

1292
00:59:42,294 --> 00:59:44,210
left to do whatever,

1293
00:59:45,090 --> 00:59:47,550
um, with. And. And that 90 does

1294
00:59:47,590 --> 00:59:50,462
stretch. Challenge me for 90 days and do

1295
00:59:50,486 --> 00:59:53,342
that. You know, give 10% to an organization.

1296
00:59:53,406 --> 00:59:56,302
If you're not the church core and you don't believe in.

1297
00:59:56,486 --> 00:59:58,942
I still love you. It's just, you know, there is a

1298
00:59:58,966 --> 01:00:01,090
God, you know? Um,

1299
01:00:01,510 --> 01:00:04,366
but pay something to

1300
01:00:04,438 --> 01:00:07,112
an organization, somebody in need. Give your

1301
01:00:07,136 --> 01:00:09,848
10% of your earnings to somebody in need if it's not a local

1302
01:00:09,904 --> 01:00:12,580
church or organization. 2.

1303
01:00:13,200 --> 01:00:15,940
Pay yourself 10%.

1304
01:00:16,320 --> 01:00:19,240
Stick that away. And so now

1305
01:00:19,280 --> 01:00:21,900
what? You got 80% left to pay your bills.

1306
01:00:21,920 --> 01:00:24,760
Um, and stop using those

1307
01:00:24,800 --> 01:00:27,256
credit cards to pay for things if you can't afford

1308
01:00:27,288 --> 01:00:29,940
them. Okay? So,

1309
01:00:30,100 --> 01:00:32,920
uh, right now, that's what money means to me,

1310
01:00:32,960 --> 01:00:35,020
that I have to watch every dollar

1311
01:00:35,470 --> 01:00:37,926
because food is expensive. Well, we gotta

1312
01:00:37,958 --> 01:00:38,570
eat.

1313
01:00:39,070 --> 01:00:39,930
>> Anthony Weaver: Yeah.

1314
01:00:41,310 --> 01:00:44,118
>> Angelina King: Gas, um, for me now, it's not expensive because I have to put

1315
01:00:44,174 --> 01:00:47,142
premium in my. My vehicle. I go

1316
01:00:47,166 --> 01:00:50,134
to Costco, I take that little, uh, journey

1317
01:00:50,182 --> 01:00:53,142
up the. The highway to go to Costco and get

1318
01:00:53,166 --> 01:00:55,958
my gas, okay? Because when it gets on

1319
01:00:56,014 --> 01:00:58,598
half, I'm like, okay, I know

1320
01:00:58,654 --> 01:01:01,478
how this can stretch, but I've been in the situation

1321
01:01:01,574 --> 01:01:04,546
twice already this year. Then I almost ran

1322
01:01:04,578 --> 01:01:07,510
out of gas, and I knew better, okay?

1323
01:01:08,090 --> 01:01:10,978
And the light didn't come on yet, but I know

1324
01:01:11,034 --> 01:01:11,790
my car.

1325
01:01:14,090 --> 01:01:14,978
>> Anthony Weaver: Take the wheel.

1326
01:01:15,074 --> 01:01:17,730
>> Angelina King: I know that's right. You know, because

1327
01:01:17,850 --> 01:01:20,770
I don't want to push that SOS Button, because

1328
01:01:20,810 --> 01:01:23,270
I'ma stay there until you bring me some cash.

1329
01:01:24,810 --> 01:01:27,670
But, yeah, twice this year already. I'm like, we, um,

1330
01:01:27,786 --> 01:01:30,040
ain't gonna do that. So

1331
01:01:31,220 --> 01:01:32,860
that's my answer to your question.

1332
01:01:32,980 --> 01:01:35,932
>> Anthony Weaver: All right, number three. If you

1333
01:01:35,956 --> 01:01:38,412
could have dinner with a financial

1334
01:01:38,596 --> 01:01:41,452
expert, past or present, who would it be

1335
01:01:41,556 --> 01:01:42,440
and why?

1336
01:01:45,380 --> 01:01:48,076
>> Angelina King: Wow, that's. That's

1337
01:01:48,108 --> 01:01:50,508
interesting. Can I pick two?

1338
01:01:50,644 --> 01:01:51,320
>> Anthony Weaver: Sure.

1339
01:01:51,940 --> 01:01:54,700
>> Angelina King: I actually want to go to dinner with you because

1340
01:01:54,740 --> 01:01:57,622
you're very knowledgeable. I think the

1341
01:01:57,646 --> 01:02:00,470
guests that you have on and the, the, the

1342
01:02:00,510 --> 01:02:03,382
questions that you do ask, because it's a

1343
01:02:03,406 --> 01:02:06,278
different perspective for me. The

1344
01:02:06,334 --> 01:02:08,130
other one would be.

1345
01:02:09,710 --> 01:02:12,582
And he's not so much a financial, but he does talk

1346
01:02:12,606 --> 01:02:15,330
about the, um,

1347
01:02:17,070 --> 01:02:19,958
how money relates to how can

1348
01:02:20,014 --> 01:02:22,752
break a relationship. Is

1349
01:02:22,936 --> 01:02:25,680
the hip hop preacher, uh, Eric Thomas.

1350
01:02:25,760 --> 01:02:26,420
>> Anthony Weaver: Yes.

1351
01:02:27,080 --> 01:02:29,340
>> Angelina King: I would love to have dinner with him

1352
01:02:30,280 --> 01:02:33,136
and just listen because he

1353
01:02:33,208 --> 01:02:36,208
is on fire. Okay.

1354
01:02:36,384 --> 01:02:38,220
And he,

1355
01:02:39,400 --> 01:02:41,660
it works for him. And he has a community.

1356
01:02:42,100 --> 01:02:44,060
Mhm. And they all get along

1357
01:02:45,400 --> 01:02:48,040
because they take money out of it. It's about

1358
01:02:48,080 --> 01:02:51,048
covenant. You know, money is important because

1359
01:02:51,104 --> 01:02:53,896
money answers all things. And I've said that in a past

1360
01:02:53,968 --> 01:02:56,904
podcast interview with you because it's in the Bible,

1361
01:02:56,952 --> 01:02:59,672
it's biblical. Um, but yeah,

1362
01:02:59,736 --> 01:03:02,300
you and Eric Thomas, I would definitely.

1363
01:03:02,800 --> 01:03:05,220
>> Anthony Weaver: Wow. I'm honored. Have you read his book?

1364
01:03:05,600 --> 01:03:07,980
>> Angelina King: Yes, I have it. Um.

1365
01:03:07,980 --> 01:03:10,904
Uou. Yes. Um, and then he has a

1366
01:03:10,912 --> 01:03:13,656
couple other books that they're on my list

1367
01:03:13,728 --> 01:03:16,406
to get, but I haven't gotten them yet. But

1368
01:03:16,558 --> 01:03:19,558
you ou put fire into me for 2025

1369
01:03:19,614 --> 01:03:20,118
though.

1370
01:03:20,254 --> 01:03:20,970
>> Anthony Weaver: Nice.

1371
01:03:22,270 --> 01:03:24,210
All right, number four.

1372
01:03:24,750 --> 01:03:27,078
What's one thing about money or

1373
01:03:27,134 --> 01:03:29,990
taxes that you wish more people

1374
01:03:30,110 --> 01:03:31,210
understood?

1375
01:03:34,910 --> 01:03:37,730
>> Angelina King: Great question. Um, I like these.

1376
01:03:40,280 --> 01:03:42,700
Well, for taxes, you know, since I

1377
01:03:43,320 --> 01:03:46,300
that's. I'm a tax professional. Is that.

1378
01:03:46,840 --> 01:03:49,552
I'll say this again, it's no fear. It's all

1379
01:03:49,576 --> 01:03:52,460
about educating yourself on

1380
01:03:54,680 --> 01:03:57,500
how taxes actually basically work.

1381
01:03:58,240 --> 01:04:01,200
Um, it's not just the

1382
01:04:01,240 --> 01:04:04,160
W2 because it's like an art when I put it together

1383
01:04:04,280 --> 01:04:07,120
to explain line by line where these

1384
01:04:07,160 --> 01:04:09,740
numbers are coming from. And you can see

1385
01:04:10,170 --> 01:04:12,834
the excitement or

1386
01:04:13,002 --> 01:04:15,170
baffleness on the

1387
01:04:15,210 --> 01:04:17,794
taxpayer tax client's face.

1388
01:04:17,962 --> 01:04:20,962
Like, no one explained this to me. I just went

1389
01:04:20,986 --> 01:04:22,790
and I filed my taxes

1390
01:04:23,690 --> 01:04:26,306
and the number

1391
01:04:26,378 --> 01:04:29,250
of, uh, feedback that

1392
01:04:29,290 --> 01:04:32,146
we've gotten is like, oh,

1393
01:04:32,178 --> 01:04:35,070
yeah, I'll be back next year. And they come back

1394
01:04:35,860 --> 01:04:38,172
and, um, the gratitude

1395
01:04:38,236 --> 01:04:41,120
for me to explain taxes,

1396
01:04:42,120 --> 01:04:45,004
um, because they said no one has explained this to

1397
01:04:45,012 --> 01:04:47,932
me. I didn't know this was out here. I didn't know

1398
01:04:47,956 --> 01:04:49,400
you could write that off.

1399
01:04:50,420 --> 01:04:53,340
Miseducation. It's almost like we need to pick up

1400
01:04:53,380 --> 01:04:54,800
Lauryn Hill's album

1401
01:04:56,180 --> 01:04:59,164
hey. Because we want

1402
01:04:59,332 --> 01:05:02,092
to advance the kingdom. You, myself, and the

1403
01:05:02,116 --> 01:05:04,952
next person. Um, at

1404
01:05:04,976 --> 01:05:07,580
least that's my goal, you know, um,

1405
01:05:09,200 --> 01:05:12,120
not so much. You know, knowledge is power. Because they say, you know,

1406
01:05:12,160 --> 01:05:14,808
people challenge that, but it really

1407
01:05:14,864 --> 01:05:17,060
is. If you don't know

1408
01:05:17,760 --> 01:05:20,648
now you do. Um, in the second part of your question,

1409
01:05:20,704 --> 01:05:23,300
you said taxes are money. Right?

1410
01:05:25,290 --> 01:05:25,320
Um,

1411
01:05:29,690 --> 01:05:32,690
this has to be personal, I guess. Um, read the question

1412
01:05:32,730 --> 01:05:33,666
one more time.

1413
01:05:33,818 --> 01:05:34,194
>> Anthony Weaver: Yeah.

1414
01:05:34,242 --> 01:05:36,306
What is one thing about money or

1415
01:05:36,378 --> 01:05:39,230
taxes that you wish more people

1416
01:05:39,850 --> 01:05:40,950
understood?

1417
01:05:42,250 --> 01:05:45,010
>> Angelina King: Well, I've learned as an adult,

1418
01:05:45,090 --> 01:05:46,950
money does not grow on trees.

1419
01:05:49,450 --> 01:05:52,050
And when you get to the level where you're

1420
01:05:52,210 --> 01:05:55,084
completely responsible for money, you're going to

1421
01:05:55,092 --> 01:05:57,708
appreciate it more. Because I see

1422
01:05:57,764 --> 01:05:59,320
these children,

1423
01:06:00,910 --> 01:06:03,772
um, anybody under the age of 18, I'm

1424
01:06:03,836 --> 01:06:06,396
calling them a child because they're

1425
01:06:06,428 --> 01:06:08,680
spending daddy and mommy's money

1426
01:06:08,980 --> 01:06:11,948
frivolously. Okay. What if

1427
01:06:12,004 --> 01:06:14,840
mommy or daddy lost that job or lost that business?

1428
01:06:16,100 --> 01:06:18,940
And I think money needs to be

1429
01:06:18,980 --> 01:06:21,280
more explained to people on,

1430
01:06:21,280 --> 01:06:24,214
um, it could be evil, and it

1431
01:06:24,222 --> 01:06:27,126
could be a benefit, you know, because it's

1432
01:06:27,158 --> 01:06:29,990
the love of money that is the root of all evil, not

1433
01:06:30,030 --> 01:06:32,854
money itself. It's the love. And if you're

1434
01:06:32,902 --> 01:06:35,798
motivated and saying

1435
01:06:35,854 --> 01:06:38,566
that money motivates you, you. You're doing it for the wrong

1436
01:06:38,598 --> 01:06:41,160
reasons. Um,

1437
01:06:41,630 --> 01:06:43,782
yeah, the. The. The sandwich

1438
01:06:43,846 --> 01:06:46,444
generation and these younger kids,

1439
01:06:46,622 --> 01:06:49,536
they're not appreciative, because if mommy

1440
01:06:49,568 --> 01:06:51,180
and daddy are paying for everything

1441
01:06:52,440 --> 01:06:55,232
and you don't know how money works, you're gonna be

1442
01:06:55,256 --> 01:06:57,760
lost. So we need to, uh, get back

1443
01:06:57,800 --> 01:07:00,512
to even myself, because as an

1444
01:07:00,536 --> 01:07:03,344
adult now, I know how money works.

1445
01:07:03,392 --> 01:07:06,144
Sometimes money is fearful for me. Like, oh, man, if I

1446
01:07:06,152 --> 01:07:09,120
spend this, this is gonna happen. This gonna happen.

1447
01:07:09,160 --> 01:07:11,740
But if I save it and invest it,

1448
01:07:12,210 --> 01:07:14,150
I can compound my interest.

1449
01:07:15,650 --> 01:07:18,426
So. But then you don't want to spend it because it's

1450
01:07:18,458 --> 01:07:21,402
like you're building this nest egg. But if you have financial

1451
01:07:21,506 --> 01:07:24,490
goals and big purchases you want to plan for,

1452
01:07:24,530 --> 01:07:27,402
money is great. It's just how you use it. I hope

1453
01:07:27,426 --> 01:07:29,030
I answer the question. I, uh, don't know.

1454
01:07:30,130 --> 01:07:31,190
>> Anthony Weaver: I like it.

1455
01:07:34,450 --> 01:07:37,194
Like it too, because it's like,

1456
01:07:37,282 --> 01:07:37,626
where's.

1457
01:07:37,658 --> 01:07:40,118
>> Angelina King: She going with this? You know?

1458
01:07:40,174 --> 01:07:43,078
>> Anthony Weaver: But, yeah, I'm. I'm with your thought process because

1459
01:07:43,134 --> 01:07:45,910
for me, I'm, um. I'm always jumping with different topics as

1460
01:07:45,950 --> 01:07:48,838
well. And I'm sure you listen to other interviews and it'd

1461
01:07:48,854 --> 01:07:51,798
be like, where is Anthony going at with these questions?

1462
01:07:51,894 --> 01:07:54,662
>> Angelina King: Like, it's very intriguing for

1463
01:07:54,686 --> 01:07:57,494
me. That's. That's why, you know, that dinner

1464
01:07:57,542 --> 01:07:59,730
question was awesome. Because it's like,

1465
01:08:00,270 --> 01:08:03,062
you have a commonality. You understand? I

1466
01:08:03,086 --> 01:08:05,928
understand. But then you bring a different perspective,

1467
01:08:06,094 --> 01:08:08,560
you know? And with

1468
01:08:08,940 --> 01:08:11,240
Eric Thomas, the hip hop preacher,

1469
01:08:13,020 --> 01:08:15,892
he's amazing, you know? Um, and

1470
01:08:15,916 --> 01:08:18,900
it works for him, you know? And his secret to his

1471
01:08:18,940 --> 01:08:21,668
success is he lives. It's

1472
01:08:21,684 --> 01:08:23,200
true. So.

1473
01:08:23,500 --> 01:08:26,468
>> Anthony Weaver: And, um, his network is really good too,

1474
01:08:26,550 --> 01:08:29,412
um, because I've met the people that are in his network, but I

1475
01:08:29,436 --> 01:08:32,296
haven't met him yet. So, um, is actually interesting

1476
01:08:32,328 --> 01:08:35,272
because they come to different conferences, so I was like, oh, I

1477
01:08:35,296 --> 01:08:36,664
didn't know you were going to be here.

1478
01:08:36,832 --> 01:08:39,816
>> Angelina King: Yeah, yeah. Because what is, uh, I don't

1479
01:08:39,848 --> 01:08:42,008
even think he calls him his right hand, but

1480
01:08:42,144 --> 01:08:45,016
cj, Uh, I met cj. Oh,

1481
01:08:45,048 --> 01:08:47,992
awesome, awesome, awesome. He's funny to me because

1482
01:08:48,016 --> 01:08:50,968
I like their success podcast, um, that they

1483
01:08:51,024 --> 01:08:53,544
do, because I think it. What is Carl?

1484
01:08:53,672 --> 01:08:56,280
Jamal. They call him Maul, I guess.

1485
01:08:56,440 --> 01:08:59,384
And because, see, Jamal and I have the last name, so I

1486
01:08:59,392 --> 01:09:00,898
was like, that's my brother.

1487
01:09:00,994 --> 01:09:01,630
>> Anthony Weaver: Right?

1488
01:09:02,330 --> 01:09:04,962
>> Angelina King: I don't know him. I don't know

1489
01:09:04,986 --> 01:09:07,586
him. Um, and it's

1490
01:09:07,618 --> 01:09:09,950
just great to see.

1491
01:09:11,850 --> 01:09:14,770
And I, uh, you know, I don't want to offend anybody, but it's great to see

1492
01:09:14,810 --> 01:09:17,714
black men do positive things.

1493
01:09:17,882 --> 01:09:20,770
It really is. You know, it's great to see that

1494
01:09:20,890 --> 01:09:23,778
and they make an impact because this

1495
01:09:23,834 --> 01:09:25,790
next generation could be lost.

1496
01:09:28,130 --> 01:09:29,162
God help y'all.

1497
01:09:29,226 --> 01:09:32,210
>> Anthony Weaver: But nobody wants to work anymore. Um,

1498
01:09:32,530 --> 01:09:35,514
or put in the. Put in the work, shall I say?

1499
01:09:35,682 --> 01:09:38,458
>> Angelina King: Yeah, no, you said it right the first time.

1500
01:09:38,514 --> 01:09:39,510
Because I.

1501
01:09:41,170 --> 01:09:44,058
I, um. I'll say this,

1502
01:09:44,114 --> 01:09:46,762
I guess, because I know. Um. No, I won't. I

1503
01:09:46,786 --> 01:09:47,390
won't.

1504
01:09:48,930 --> 01:09:50,874
>> Anthony Weaver: All right, well, we'll talk off my.

1505
01:09:51,042 --> 01:09:53,140
>> Angelina King: Yeah, we could talk off line. Yeah.

1506
01:09:55,400 --> 01:09:57,540
>> Anthony Weaver: So. All right. Um,

1507
01:09:57,960 --> 01:10:00,912
so, Angelina, uh, this has been

1508
01:10:01,016 --> 01:10:03,248
such a wonderful time. Thank you so much.

1509
01:10:03,304 --> 01:10:05,980
Is there anything left that you want to say

1510
01:10:06,280 --> 01:10:08,800
as, uh, a close out for this particular episode for

1511
01:10:08,840 --> 01:10:09,420
today?

1512
01:10:10,360 --> 01:10:13,088
>> Angelina King: The one thing I would like to say, and I'm g. Keep this

1513
01:10:13,144 --> 01:10:14,580
brief, I promise.

1514
01:10:15,110 --> 01:10:18,014
Um, those W2 workers

1515
01:10:18,112 --> 01:10:21,058
that are. Want to switch

1516
01:10:21,154 --> 01:10:23,586
jobs to make more money

1517
01:10:23,658 --> 01:10:26,270
or you're just starting out,

1518
01:10:26,390 --> 01:10:29,378
um, looking for a job. Because I've seen things on social

1519
01:10:29,434 --> 01:10:32,402
media that people were crying because they don't. They can't find a

1520
01:10:32,426 --> 01:10:34,870
job. Okay. And they're not marketable.

1521
01:10:36,170 --> 01:10:39,170
The one thing I would kind of

1522
01:10:39,210 --> 01:10:42,114
stress, you have to be prepared

1523
01:10:42,162 --> 01:10:44,824
when you present yourself because you're

1524
01:10:44,872 --> 01:10:47,768
marketing yourself. You may look great

1525
01:10:47,824 --> 01:10:50,632
on paper, but for you

1526
01:10:50,656 --> 01:10:53,320
to communicate that to the interviewer

1527
01:10:53,480 --> 01:10:55,380
and you're sitting across them,

1528
01:10:56,160 --> 01:10:59,140
research what the company does. These are the basic things.

1529
01:10:59,520 --> 01:11:02,472
Research what the company does. Align

1530
01:11:02,536 --> 01:11:05,300
that with what you can. Help them,

1531
01:11:05,600 --> 01:11:08,460
the company with your skills.

1532
01:11:09,290 --> 01:11:11,954
Sell yourself. Talk in the mirror, do a

1533
01:11:11,962 --> 01:11:14,930
mock interview before you get there, because a

1534
01:11:14,970 --> 01:11:17,350
lot of these young people are unprepared

1535
01:11:18,010 --> 01:11:20,550
and they're. They go to the bottom of the stack

1536
01:11:21,050 --> 01:11:24,018
of the resumes. And the other thing is

1537
01:11:24,154 --> 01:11:25,630
get your taxes done.

1538
01:11:28,410 --> 01:11:31,218
>> Anthony Weaver: Yeah, they gotta do that. I can imagine a lot of People

1539
01:11:31,274 --> 01:11:33,710
like, oh, I haven't done my taxes in, like, three years.

1540
01:11:34,250 --> 01:11:37,154
>> Angelina King: And, you know, you bring up a great point. If you haven't

1541
01:11:37,202 --> 01:11:39,990
done your taxes in three years, you're missing out on

1542
01:11:40,030 --> 01:11:42,726
money that the IRS has for you because the stimulus

1543
01:11:42,758 --> 01:11:45,542
checks are still available. This will probably be the

1544
01:11:45,566 --> 01:11:48,470
last year that you probably can claim that in

1545
01:11:48,510 --> 01:11:51,510
the IRS and the Department of Treasury. They're trying

1546
01:11:51,550 --> 01:11:54,294
to do the right thing to locate you so you can get

1547
01:11:54,302 --> 01:11:57,046
your fourteen hundred dollars or

1548
01:11:57,118 --> 01:12:00,038
more, you know, um, and

1549
01:12:00,094 --> 01:12:02,598
they put out a blast on their

1550
01:12:02,654 --> 01:12:05,536
website that a, um, lot of the

1551
01:12:05,688 --> 01:12:08,224
recovery rebate money has gone

1552
01:12:08,272 --> 01:12:10,064
unclaimed. I think it's

1553
01:12:10,112 --> 01:12:12,576
1.5 billion or

1554
01:12:12,728 --> 01:12:15,696
million. I think I have that. Yeah,

1555
01:12:15,728 --> 01:12:18,624
I have it here somewhere. Um, the max

1556
01:12:18,672 --> 01:12:21,280
amount you can get is $1,400. You can't use

1557
01:12:21,320 --> 01:12:24,220
$1,400. I know I can.

1558
01:12:25,080 --> 01:12:27,340
>> Anthony Weaver: Oh, yeah, you can put premium gas in.

1559
01:12:30,570 --> 01:12:32,642
>> Angelina King: I have. That'll be earmarked

1560
01:12:32,706 --> 01:12:35,500
specific for that. Um,

1561
01:12:35,500 --> 01:12:38,450
yeah, there's, um, over a million dollars still left on the

1562
01:12:38,490 --> 01:12:41,282
table that, um, taxpayers have not claimed.

1563
01:12:41,346 --> 01:12:44,322
So don't be afraid that you're not going

1564
01:12:44,346 --> 01:12:46,130
to get it. But if you need to file your

1565
01:12:46,170 --> 01:12:48,990
2021 tax return,

1566
01:12:49,530 --> 01:12:52,270
ain't much you can do with 2020, because

1567
01:12:52,890 --> 01:12:55,522
the statute of limit, because you have three years to file your

1568
01:12:55,546 --> 01:12:58,480
taxes. Okay. But 2021, you

1569
01:12:58,520 --> 01:13:01,020
have until April 15th to get that in

1570
01:13:01,640 --> 01:13:03,700
and get your fourteen hundred dollars.

1571
01:13:05,400 --> 01:13:08,288
>> Anthony Weaver: All right, well, thank you so much

1572
01:13:08,344 --> 01:13:11,280
again for all, uh, that you do and

1573
01:13:11,320 --> 01:13:13,740
continuously to add value to

1574
01:13:14,280 --> 01:13:17,040
everybody that listens to your voice, to your

1575
01:13:17,080 --> 01:13:19,952
message. Uh, if you guys haven't already, while

1576
01:13:19,976 --> 01:13:22,896
you're listening to this episode, go ahead on

1577
01:13:22,968 --> 01:13:25,860
and sign up for her email list. Um,

1578
01:13:25,888 --> 01:13:28,840
if you haven't, you can sign up for my email list. I, uh,

1579
01:13:28,880 --> 01:13:31,480
do have a full section dedicated

1580
01:13:31,560 --> 01:13:34,536
to 718 tax services because it's

1581
01:13:34,568 --> 01:13:37,512
a lot of great information, and I do want to share that with my

1582
01:13:37,536 --> 01:13:40,536
audience and with you guys. So if you haven't already

1583
01:13:40,608 --> 01:13:42,872
done so, sign up for both of our

1584
01:13:42,976 --> 01:13:45,680
newsletters. Hers is more on,

1585
01:13:45,680 --> 01:13:48,040
uh, as you could say, more

1586
01:13:48,080 --> 01:13:50,300
scheduled than mine, minus

1587
01:13:50,840 --> 01:13:53,820
whenever I get to it for the month.

1588
01:13:54,240 --> 01:13:57,220
Uh, but I'm working on it. It's a work in progress.

1589
01:13:57,960 --> 01:14:00,832
>> Angelina King: That's right. At least you're doing it because, see, some

1590
01:14:00,856 --> 01:14:03,540
people don't even send out information. So. Yeah.

1591
01:14:05,080 --> 01:14:08,032
>> Anthony Weaver: All right, well, thank you so much, everybody.

1592
01:14:08,096 --> 01:14:10,656
Y'all be safe. And y'all,

1593
01:14:10,768 --> 01:14:13,600
you remember, you do have what it takes to be the best

1594
01:14:13,640 --> 01:14:16,522
version of yourself and your taxes is

1595
01:14:16,546 --> 01:14:19,530
something is to not be afraid of not turning away. Turn

1596
01:14:19,570 --> 01:14:22,522
your eyes away from. Lean into it and let's get

1597
01:14:22,546 --> 01:14:25,434
it done. All right, everybody. Y'all be safe.

1598
01:14:25,482 --> 01:14:26,170
We out.

1599
01:14:26,290 --> 01:14:26,490
>> Angelina King: Peace.