I knew about the gas card but the first thing is to start off the business right Setup your business, EIN, Business checking account , Duns number , business phone number & address , Business website
I have the Shell Fleet (Business) Gas Card and since I use my personal car for business, I use that card for gas. You can actually buy anything in the gas station with that card. It also allows you to use it for Maintenance at Jiffy Lube (certain locations). I actually just went to get a diagnostic a few weeks ago from there. That’s how I was able to start building my business credit.
exactly: business cards pays for everything. never use your business checking account to make any purchases. ONLY DEPOSIT- your business checking is for deposit and pay your business credit card debt only.
Thanks so much for confirming this. I just started doing this. I use my Capital one business card to pay for everything and then the business checking to make the payment. It keeps everything in order.
It is a beautiful thing to actually hear young black people discuss real business nuts and bolts like banking, bookkeeping, and taxes and deductions. Keep going.
If you want to be financially free you need to have your own business and be your own boss. That said, you’ll also have to work a lot harder than most others and make alotta sacrifices.
No brother. That is inaccurate, and will screw you over. I'm an automotive professional hear me out. GVWR (gross vehicle weight rating) is what the vehicle weighs with a full tank of gas, fully loaded with passengers, and the trunk full of luggage. You always use the *curb weight* which is what the vehicle weighs empty. No passengers, no luggage, empty fuel tank. PS the curb weight is easily searched on google. All you need to do is add in the weight of a full fuel tank, which is simple math. 1 gallon of fuel weighs 8 lbs. Find out the capacity of your vehicle's fuel tank, multiply it by 8, and add that to the curb weight.
Don’t forget if you fully depreciate an asset especially 100% standard when you sell the asset for capital gain you will have to pay those taxes fully..
Absolutely. Many things happen when you hear the golden side of a scenario. Each client tax planning needs assessment. Reason why there is a cost for that service because you are becoming educated in the process. Create a team your financial advisor, TAX professional, and attorney
I have 2 chapter 13’s that are dismissed. The reason I have 2 is bcz I did not use an attorney. I was trying to stop an eviction, but when I went to try to add another month’s rent to the bankruptcy, but the guy filed another one. About a month later, I ended up losing my job. They are scheduled to fall off in January and March 2021. Since I’m looking to purchase a home soon but still there. I am currently enrolled in *850CREDIT RESTORATION* and I must say, I am loving it thus far. I’m doubling it up with your podcast videos and learning A LOT! Thank you. I’m ready to join the millionaire club!!!
You guys are the TRUTH. I just seen one if y'all 18 wheelers on I-75! I started screaming "look that's Rashad nem"!!! Had no idea y'all had EYL Trucks on the road. So inspiring!!
Enjoyed watching this. She was spot on with educating people on how to keep business and personal separated. I as well own a trucking company and just opened my Freight Brokerage company. It is vital to small businesses to learn how to building business credit and keep personal separate to secure your personal assets. FYI get those gas cards for your trucks my brother!
Wow. I’m so glad I came across this channel. I’ve been thinking entrepreneurially since a kid and there’s a lot of things I learned in college by reading books and talking to people who were successful from a business standpoint. So I knew about business credit a long time ago and recently purchased my latest car in my business name. I have business credit cards as well. But what I didn’t realize, until now, was how important it was to treat that vehicle as the business’ personal car. Meaning that use your business’ credit/debit card for all related automobile expenses. In fact, I have two businesses; one Tutoring Franchise and the other is a Game Truck, whereas I use a Ford Expedition to pull the game trailer. All of that has to be on the business. I’m sure I do it the majority, if not all, on the expedition, but definitely not on the car I use for commuting back and forth on the tutoring franchise. Now I know. I’ll be getting a gas card ASAP. Thank you! I’ve liked and subscribed.
Wealth is not just about finance, but health and wellness is critical especially in our black community! No need to have stuff and money if you don't have your good health? Rick Ross finally understands this truth now! What does it profit a man/woman to gain the whole world if you don't have optimum health to enjoy it all! Let change the mindset about the diet & wealth in the black community so we can all go up together! Above all things... I wish that you be in good health and prosper even as your soul prospers! God bless you brothers! and remember to use *DiscreetPhaseResolution🟡com* for your bad credit and negative credit marks and inquiries removal
I love this video! Yes, Business Credit is the most underutilized financial hack and it’s not hard to get approved for a gas card either. I encourage all small business owners to build business credit ASAP. Don’t wait! Buying a car is just ONE of the benefits of building business credit. Keep up the great work fellas.. spreading the wealth of knowledge.
This is very good information that most of us don't have or don't know to look for, so I just wanna say that I very much appreciate you guys putting this out here, you're having a positive net impact on the world and more specifically those of us who don't grow up around this kind of information & these thought processes.
You guys need to listen to Ty Crandal about buying vehicles in your company name. We have done it 3 times and never had to personal guarantee it , it should never report on your personal credit if it’s in your business name. That effects your DTI bad learn how to buy vehicles without using your ssn guaranteeing anything. Now we have fleets and started a rental car business in two states just imagine if all that was reporting on my personal credit 🤦🏽♂️
Just one thing you must keep in mind. If you purchase the vehicles in your business’s name, a simple accident can become a law suit against your business, whereas if you own it personally, just an exchange of insurance
Fleetcor is the best fleet card (gas card) because you can use it for gas, car maintenance and car related purchases. Then after a few months, the card can graduate and open up to a fully functional MC that can be used anywhere.
It never fails...your credit can either put you ahead of the class or hold you back. This is great information that most people don't even know is possible. Keep up the great content!
You guys should talk about the fine print in the lease/finance paperwork and the insurance paperwork. Are you guys paying commercial insurance? Did you check off that the vehicle will be used for business use? Are you required to have a commercial tag on the car?
I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *850 CREDIT RESTORATION* , Love the knowledge keep it up
I dunno… I was one of those people that didn’t care about a credit score, didn’t get any education about how important your credit score is, and I racked up debt like an idiot. I worked really hard and educated myself and I’ve brought my credit score from 480 to 690 and I’m still going up with *850CREDIT RESTORATION* . I feel like the government blaming credit reporting companies instead of the lack of financial education in their own public education system is foolish.
Thank you so much for your inspiration! I have traveled a similar path, 2 college degrees, multiple jobs including credit problems. I am now 65 years old and have found my purpose in life. Currently in the process of starting my own business. May God continue to bless you and May He continue to bless *850 credit restoration* for me for every successful deal we conducted
It's always good to see my brothers educated however one brother doesn't give the other not enough time to talk and express himself and share on the business however the woman was very knowledgeable and what she does and I'm so glad I watched this video all way through. Thank you guys
You did a really good job on this video. I can tell you aren't a fast talking RUclipsr trying to make a video for "Likes". You are passionate about sharing useable content and you did just that.
You never learn about crypto currencies that can help you cashout up to $100k per month as a young investor and entrepreneur. I ask myself why universities don’t enlightening their young students about all that.
Man its the sad truth. But luckily thanks to technology and platforms and channels like this we can all start getting better. We may of had a late start but its never to late to start applying changes in our financial situations.
I’m learning every day and educating myself to become more self efficient and to give up the Kronos Clock on somebody else watch. Not just for myself but my daughter can learn from me as well and leave a legacy behind for her children. She also has the same mindset as me when we talk. I’m definitely going to share this link to motivate her promising future on independence 🗣💯
Thank you so much for your inspiration! I have traveled a similar path, 2 college degrees, multiple jobs including credit problems. I am now 65 years old and have found my purpose in life. Currently in the process of starting my own business. May God continue to bless you and May He continue to bless *850 credit restoration* for me for every successful deal we conducted
Great information but there are a couple items that should probably be highlighted in a bit more detail: 1. Section 179 of the tax code details the vehicle deduction criteria and it’s based on GVWR (gross vehicle weight rating) and that needs to be over 6k lbs...so a Range Rover does qualify along with most other full size luxury SUV like a Bentayga or even a Urus. 2. Building biz credit starts when you get your EIN and open your biz bank account. Deal with an entity that will at minimum gives you a biz debit card and optimally a biz credit card. Low limit isn’t an issue because as you pay it down you bank will automatically up your limit if you pay it ON TIME. 3. Get a DnB (Dun and Bradstreet) number. DnB is an organization that monitors/reports on commercial/biz credit and with the number attached to your EIN you build a visible credit history in your biz. So using your gas card or any credit that ties into your biz builds your credit portfolio and in 3 years (of solid payments) allows you to buy assets on credit with the biz as the guarantor and not you & your personal credit as the backer. 4. A write-off is just using an asset’s value to lower your taxable revenue/income. So be smart...if you buy a $250k Lambo Urus cuz it 6k lbs but ya biz only made $50k ya hustling backwards! LOL! Serious accounting & IRS red flags go up!
Everything happens when it's scheduled too and this video is no exception. It showed up in my recommendations at the correct time especially when we are getting ready to upgrade our family vehicle and we own businesses.
my white classmates with bmw and rx7 told me about it...back in the 90s lol..sad part is my mother is a CPA & never taught me about writing off vehicle costs lmao
VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *850 CREDIT RESTORATION* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well
Dang I just learned something. Need to make some changes because I would love to use my business info for all of this. Been doing it wrong for so long. Thanks for the education.
Great information also you will need to look up setting up a DUNS account. That's an account that allows you to build business credit. So just like she mentioned get gas card, office max card, etc.. but make sure to check if they report duns account to the credit bureaus. Great information i love what yall boys doing and keep pushing great information.
@@chowderrsenpaii its a number that is attached to your LLC EIN number you will need to request your number and when you apply for a card like at office max, lowes, or a place where you buy supplies for your business. Just make sure to ask if they accept duns account number and if they send in reports to credit bureaus. That's one way you can build business credit for your company
@@LoveTheEighties yes it will be just like when you create your LLC you will get a EIN that's attached to your LLC and they go off your personal credit for whenever you use your business credit card.
This is great info to share. For the mileage you can use the app called (Mile IQ) which tracks your mileage that you use for your business. The one thing she didn't mention about using Section 179, which allows you to write off $25k on a business vehicle in the FIRST YEAR that is over 6000lbs. This is what you do, buy the truck and let the tax write off pay for the first two years of your payment. Then trade it in after the two years and do it all over again. You will never make a payment this way. (mind = blown)
Explain a little more.... I have an LLC business I started back in nov 2019... I don’t kno where to start for business credit and credits cards but where do I need to start in order to buy my dream car in my business name
They really got me out here tryna finesse. I appreciate y’all spreadin love to the hood on a real educational tip. They don’t want us knowing this so y’all put us on. Thank y’all. One.
Well, I agree with majority of her presentation. I have a fuel man gas card $14K. It’s good to have to build my business credit and great for having all gas expenses on one card for easy tax write offs. But, I have a chase business card that gives me bonus points for using for gas has the highest bonus points to earn. So, I use my chase business card to earn the points. The points add up to free hotel, rental cars, airplane travel or just apply towards my balance and receive credit.
You guys put chills threw my body so I know what your doing is 💯 love. I just stared my business last week and have no idea what I’m getting into just jumping in and helping employ teenagers in my community. Idk what the price will be but I’m going to try and start putting something to the side cause I really wanna be a part of this group. Keep doing what your doing💯💪🏾 we all need this blessing.
NOBODY BECOMES A MILLIONAIRE OR A BILLIONAIRE BY WORKING FOR OTHERS AND DEPENDING ON THEM, GOOD INVESTMENT BRING MILLIONS OF DOLLARS, AND CONSISTENCY BRING
Success is dependent on the action or steps you take to achieve it. Show me a man who doesnt have an investment and I will tell you how soon he'll go broke Investment is building a safe haven for the future: with the right choice of investment that has at least 1% minimum risk and with an Expert guidance, profit and interest should be guaranteed.
Successful people don't become that way Overnight. What most people see at a glance-wealth, a great career, purpose-is the result of smart work and patience over time.
@@truthknocksthebrainsoutoff6693 Yes. I’m so glad to confidently say, “Yes”. I submitted my application late one night. One week later I called yo check my status. My cards were already in the mail. Another company you may like is 5 Star Processing. They issued me a card within 3 weeks. I have an A rating with D&B with 6 trade lines. I’m stilling learning, but will share all I learn.
There are also those people who have great credit, a high credit limit, always pay on time, but no financial responsibility because they are living on credit and their parents are still paying their bills at 36 years old it is because I thought so too. I had a medical condition which put me through a lot, things were not working out, it cost me a lot, let me spare you the tale of my woes and give you the good news I had a credit score of 540 as at last year before a friend told me about LEGITREPAIRS🎡ORG, initially, I was skeptical but they have been able to increase my score to 791.
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I'm 40 years old, married 11 years, and we have 2 children. First four years of our marriage, we had 3 cars stolen. Then a car that was flooded a few years later, then our rented house and another car flooded a couple years after that (we had to swim out of our house) . I've never made nore than $20/hr in my life. In 2015, we were $110K in debt. Student loans, car, and credit cards. Now, in 2019, we are $50K in debt, with only student loans and our car. We've been watching EVERY penny. In the past 4 years, we've cut out $60K of debt. I'll be 45 when we are able to buy our first house, and our children will be teenagers, such is sad, but we will not have any other debt. What makes me happy is that our children are going through this struggle with us. When they are old enough to be our in the world, they will already know what my wife and I have been learning for the past 11 years, and am glad Jason doesn't want the stress for us, he comes online and introduce us to LEGITREPAIRS🎡ORG 2017, no much talk i got a perfect credit score combination with wife
Question is the insurance under the business name as well? Would it be considered commercial insurance? It is cheaper or more expensive than regular insurance
YoungKing the insurance will have to go under the business name. The rate tend to be a little higher. But that all depends on your credit and driving record as well.
In many cases of work trucks, your rate can be the same or lower. Ideally, you want to find a package deal or B.O.P. (Business Owners Policy). This combines your General Liability, Property, and Commercial Auto policies
I hired him ASAP and he did a monumental job by helping us raise our credit Score to 823 and 789 respectively and also removed all nevatives items replacing them with trade lines just couple of days after we fixed agreement.
Bots 😂 y'all sleep crypto is the new 🌊 I just made 140% profits in 4 weeks. Too bad I only had 3500% to invest but I'm back in the game now 2017 I made 50k and I was investing using youtube crypto channels
Anything that you're doing around your business; save all your receipts even when you go out to eat for business meeting, clothing for your business, everything as long it's business related and yes, car maintenance, tires, oil change like EVER-RY-THING..save your receipts give them to your account. If they don't ask you for that mhm question what else that you're not in the know of. I used to work for a small business he knew none of that; when I got him his 1st business credit card and gas card he didn't know how to think me so now I just made his accountant job easier.
I LOVE LOVE LOVE the Chase App. They take banking to a new level. I've been banking with Chase for my personal Acc for about 4 years now. They're just a lil too expensive for me as a business owner that's just starting off. Imho you have to have too much month to month average balance sitting in your business acc to negate the fees. My credit union has NO month to month fees on my business acc no matter my balance.
Interesting! I still think "credit score" is one of the greatest scams and discriminators of our time! When I paid off all my debt, my score went down significantly. Money in the bank, cash flowing paid for rental houses but nope, banks do not like that. No wonder the system went upside down! Really wanted to emote bad records and inquiries off my credit repott i came across 850creditrestoration🎡net just recently after i've been using Lexington Law for over two years, I'm glad i have a clean profile No
In order to put anything of large caliber on your business account, you will have to have documents to prove prove that you are expected to grow, and you also have a trust worthy revenue stream.
Another thing about having your car in your business name when the police run your tag and it comes back to a business they will most likely not bother you
@@marcoskenny1052 I am still pretty new at trading only 2 1/2 months in...I try to listen to money market mondays they host but get lost sometime being that I'm still new u know but I'm look into focusing on bitcoin more seriously
@@gatesstudygroup8913 went to my credit union (bank) where my business account is, talked to the appointed business financial associate, told her my plan of needing a transportation for my biz. Told me what I needed to do, what they looking for in order to get a loan from them I went and did it...all banks need differ things from you (your business ) to qualify for the loan but get a duns# type it in on Google, its easy to apply for, then google cards that report to duns and bradstreet and apply for those. u can also ask ur credit union (bank) what credit cards they have for business acct. n who do they report to.
This chica is brilliant at explaining to ordinary people. I have degrees in engineering and accounting, I knew most of this stuff but shes explaining in 1 sentence what would take me paragraphs to explain does this girl have a channel? She should have a huge channel if she marketed to business consultants just learning to present like she does.
I've probably clicked off enough hoo-rah presentations that I could've learned something from, cuz I don't have time to listen to the hoo-rah spiel before I hear something useful. I need to re-watch, HOW this chica presents should be the gold standard for financial advisors. Stop insulting peoples intelligence, give the facts in a clear concise way, cut the hoo-rah bullshit, and let the client ask when they have questions.
I knew about the gas card but the first thing is to start off the business right
Setup your business, EIN, Business checking account , Duns number , business phone number & address , Business website
I don't have a checking account yet or DUNS number. How do you get a DUNS number?
@@noneyabiz7257 DUNS is issued by Dunn & Bradstreet and will help you build business credit.
@@noneyabiz7257 just call them & give business information & they'll get you 1 set up free of charge
💯💯💯
Factz
I have the Shell Fleet (Business) Gas Card and since I use my personal car for business, I use that card for gas. You can actually buy anything in the gas station with that card. It also allows you to use it for Maintenance at Jiffy Lube (certain locations). I actually just went to get a diagnostic a few weeks ago from there. That’s how I was able to start building my business credit.
I just got mine and was wondering if I could buy anything in the store. Thanks
exactly: business cards pays for everything. never use your business checking account to make any purchases. ONLY DEPOSIT- your business checking is for deposit and pay your business credit card debt only.
let me know the in and out then in one simple understanding.
@natasha apao already broke it down
Thanks so much for confirming this. I just started doing this. I use my Capital one business card to pay for everything and then the business checking to make the payment. It keeps everything in order.
How do I get a business credit card, what # I use??? Duns or EIN
thanks
@@amiragraceministry401 also it pays to use your card you will get points and cash back
It is a beautiful thing to actually hear young black people discuss real business nuts and bolts like banking, bookkeeping, and taxes and deductions. Keep going.
You guys are lifting communities up. Black and Brown
@@johnwayne2103 because I cant speak for communities I'm not informed about
And white
@@kenbals let's goooooo
And I'm here for it all, ya heard 💪🏾
We all have separate paths, but common waypoints ....good and bad .... always try to stand in the shaft of light
Great video! I applied for a shell gas card and was able to get a $3,000 credit limit for my real estate business.
Oh wow I only got $500 with chevon
Were you just starting out with the business or had you already been building your business credit?
Was that with or without personal guarantee?
Shells great for new business gas fleet card
If you want to be financially free you need to have your own business and be your own boss. That said, you’ll also have to work a lot harder than most others and make alotta sacrifices.
I am a Real Estate Agent, and purchased a vehicle under my LLC! This is great info!
Ben, I'm also a Broker. how long did you convert to an llc until you purchased a vehicle?
How many years have you had your LLC? I'm looking to do the same and had mine 5 years.
@@deadnsyde1514 Yes, I am!
@@BenTheRealtorAZ WRITE MR. THOMPSON ON WHAT SAPP TO MAKE GREAT PROFIT
*+ 1 9 1 4 2 0 6 8 2 9 4*
Just saved this video. I have been mixing up my personal finances with my business finances
You can find out the exact weight of your vehicle simply by looking in the drivers door area, itll be a white tag and look next to GVW
Oh wow cause for a minute I’m thinking they were talking foreign money 🤦🏽♀️🤦🏽♀️🤦🏽♀️Lord Jesus help your daughter to learn swiftly! Lol!
@@ChangedUpNowWhat lol u funny
@@ChangedUpNowWhat 😂 😂 you not alone sis. Help us both
U beat me to it
No brother. That is inaccurate, and will screw you over. I'm an automotive professional hear me out. GVWR (gross vehicle weight rating) is what the vehicle weighs with a full tank of gas, fully loaded with passengers, and the trunk full of luggage.
You always use the *curb weight* which is what the vehicle weighs empty. No passengers, no luggage, empty fuel tank.
PS the curb weight is easily searched on google. All you need to do is add in the weight of a full fuel tank, which is simple math. 1 gallon of fuel weighs 8 lbs. Find out the capacity of your vehicle's fuel tank, multiply it by 8, and add that to the curb weight.
This is the best explanation I’ve ever heard about depreciation! I’ve had businesses for years and I never quite had it down 100%. Thank you!
Gas cards are usually called fleet cards, just in case anyone may be confused
Glad I found you guys. I started a Trucking business this year. Thanks for all you do for the viewers.
Smart Business Woman NBC should be calling her For an Interview.
Don’t forget if you fully depreciate an asset especially 100% standard when you sell the asset for capital gain you will have to pay those taxes fully..
Good point. Can't overlook that fact
Thanks for that valuable fact 👌🏾
Gift it to a relative. Son daughter ect
@@MrJimipurplehaze Yes that's what the rich do.
Absolutely. Many things happen when you hear the golden side of a scenario. Each client tax planning needs assessment. Reason why there is a cost for that service because you are becoming educated in the process. Create a team your financial advisor, TAX professional, and attorney
Don't know how I came across this video, but i am so happy I did.
Same! I was looking for LED light reviews for my food truck and this popped up. Look at God! 😅
I have 2 chapter 13’s that are dismissed. The reason I have 2 is bcz I did not use an attorney. I was trying to stop an eviction, but when I went to try to add another month’s rent to the bankruptcy, but the guy filed another one. About a month later, I ended up losing my job. They are scheduled to fall off in January and March 2021. Since I’m looking to purchase a home soon but still there. I am currently enrolled in *850CREDIT RESTORATION* and I must say, I am loving it thus far. I’m doubling it up with your podcast videos and learning A LOT! Thank you. I’m ready to join the millionaire club!!!
You guys are the TRUTH. I just seen one if y'all 18 wheelers on I-75! I started screaming "look that's Rashad nem"!!! Had no idea y'all had EYL Trucks on the road. So inspiring!!
Enjoyed watching this. She was spot on with educating people on how to keep business and personal separated. I as well own a trucking company and just opened my Freight Brokerage company. It is vital to small businesses to learn how to building business credit and keep personal separate to secure your personal assets. FYI get those gas cards for your trucks my brother!
Wow. I’m so glad I came across this channel. I’ve been thinking entrepreneurially since a kid and there’s a lot of things I learned in college by reading books and talking to people who were successful from a business standpoint. So I knew about business credit a long time ago and recently purchased my latest car in my business name. I have business credit cards as well. But what I didn’t realize, until now, was how important it was to treat that vehicle as the business’ personal car. Meaning that use your business’ credit/debit card for all related automobile expenses. In fact, I have two businesses; one Tutoring Franchise and the other is a Game Truck, whereas I use a Ford Expedition to pull the game trailer. All of that has to be on the business. I’m sure I do it the majority, if not all, on the expedition, but definitely not on the car I use for commuting back and forth on the tutoring franchise. Now I know. I’ll be getting a gas card ASAP. Thank you! I’ve liked and subscribed.
I am committed to self-development and thriving.
Wealth is not just about finance, but health and wellness is critical especially in our black community! No need to have stuff and money if you don't have your good health? Rick Ross finally understands this truth now! What does it profit a man/woman to gain the whole world if you don't have optimum health to enjoy it all! Let change the mindset about the diet & wealth in the black community so we can all go up together! Above all things... I wish that you be in good health and prosper even as your soul prospers! God bless you brothers! and remember to use *DiscreetPhaseResolution🟡com* for your bad credit and negative credit marks and inquiries removal
Forever grateful for a good job done
Forever grateful for a good job done
Forever grateful for a good job done
Forever grateful for a good job done
Forever grateful for a good job done
just learned a lot in 20 minutes, yall out here saving lives. thank you
I love this video! Yes, Business Credit is the most underutilized financial hack and it’s not hard to get approved for a gas card either. I encourage all small business owners to build business credit ASAP. Don’t wait! Buying a car is just ONE of the benefits of building business credit. Keep up the great work fellas.. spreading the wealth of knowledge.
Really cause I’ve tried twice and was denied twice
High car insurance rates. No thx
This is very good information that most of us don't have or don't know to look for, so I just wanna say that I very much appreciate you guys putting this out here, you're having a positive net impact on the world and more specifically those of us who don't grow up around this kind of information & these thought processes.
You guys need to listen to Ty Crandal about buying vehicles in your company name. We have done it 3 times and never had to personal guarantee it , it should never report on your personal credit if it’s in your business name. That effects your DTI bad learn how to buy vehicles without using your ssn guaranteeing anything. Now we have fleets and started a rental car business in two states just imagine if all that was reporting on my personal credit 🤦🏽♂️
Just one thing you must keep in mind. If you purchase the vehicles in your business’s name, a simple accident can become a law suit against your business, whereas if you own it personally, just an exchange of insurance
You and your bad advice 😂😂😂
Fleetcor is the best fleet card (gas card) because you can use it for gas, car maintenance and car related purchases. Then after a few months, the card can graduate and open up to a fully functional MC that can be used anywhere.
It never fails...your credit can either put you ahead of the class or hold you back. This is great information that most people don't even know is possible. Keep up the great content!
You guys should talk about the fine print in the lease/finance paperwork and the insurance paperwork. Are you guys paying commercial insurance? Did you check off that the vehicle will be used for business use? Are you required to have a commercial tag on the car?
Can çook up your GVW Gross Vehicle Weight. May be on car window sticker. Googling it could be quicker for you.
...OMG MS BUSINESS.. gosh I love her brain 😍
I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *850 CREDIT RESTORATION* , Love the knowledge keep it up
I dunno… I was one of those people that didn’t care about a credit score, didn’t get any education about how important your credit score is, and I racked up debt like an idiot. I worked really hard and educated myself and I’ve brought my credit score from 480 to 690 and I’m still going up with *850CREDIT RESTORATION* . I feel like the government blaming credit reporting companies instead of the lack of financial education in their own public education system is foolish.
Thank you so much for your inspiration! I have traveled a similar path, 2 college degrees, multiple jobs including credit problems. I am now 65 years old and have found my purpose in life. Currently in the process of starting my own business. May God continue to bless you and May He continue to bless *850 credit restoration* for me for every successful deal we conducted
It's always good to see my brothers educated however one brother doesn't give the other not enough time to talk and express himself and share on the business however the woman was very knowledgeable and what she does and I'm so glad I watched this video all way through. Thank you guys
You did a really good job on this video. I can tell you aren't a fast talking RUclipsr trying to make a video for "Likes". You are passionate about sharing useable content and you did just that.
Big Ups to your CPA. I'm a new follower & y'all need to promote her name & business contact info. She's an asset to any up'n coming business owner.
Yes other Black Business Need her !!
She’s easy to find. People aren’t looking it’s in the description box
Literally
That's good info. Didn't find out about this until I leased a car from Uber back in 2015.
its really sad how many things we never learned from school smh
You never learn about crypto currencies that can help you cashout up to $100k per month as a young investor and entrepreneur. I ask myself why universities don’t enlightening their young students about all that.
@@frankadam6553 Unless you’re studying business or Economics Its not their prerogative
Man its the sad truth. But luckily thanks to technology and platforms and channels like this we can all start getting better. We may of had a late start but its never to late to start applying changes in our financial situations.
School doesn't teach u about business it's teaches u how to be a great employee.
@@wekofute2405 really I have no knowledge on this were do I start
Full of GEMS! Thank you all, you got a new subscriber! Peace, love, & harmony to all.
I’m learning every day and educating myself to become more self efficient and to give up the Kronos Clock on somebody else watch. Not just for myself but my daughter can learn from me as well and leave a legacy behind for her children. She also has the same mindset as me when we talk. I’m definitely going to share this link to motivate her promising future on independence 🗣💯
i have scrolled past this video for a good while and today i paid a visit. Awesome! Thank you for sharing..im a new subbie and i liked the video!
Thank you so much for your inspiration! I have traveled a similar path, 2 college degrees, multiple jobs including credit problems. I am now 65 years old and have found my purpose in life. Currently in the process of starting my own business. May God continue to bless you and May He continue to bless *850 credit restoration* for me for every successful deal we conducted
These are fantastic financial tips coming from a beautiful black sister & brothers. Many thanks 🙏🏾
Great information but there are a couple items that should probably be highlighted in a bit more detail:
1. Section 179 of the tax code details the vehicle deduction criteria and it’s based on GVWR (gross vehicle weight rating) and that needs to be over 6k lbs...so a Range Rover does qualify along with most other full size luxury SUV like a Bentayga or even a Urus.
2. Building biz credit starts when you get your EIN and open your biz bank account. Deal with an entity that will at minimum gives you a biz debit card and optimally a biz credit card. Low limit isn’t an issue because as you pay it down you bank will automatically up your limit if you pay it ON TIME.
3. Get a DnB (Dun and Bradstreet) number. DnB is an organization that monitors/reports on commercial/biz credit and with the number attached to your EIN you build a visible credit history in your biz. So using your gas card or any credit that ties into your biz builds your credit portfolio and in 3 years (of solid payments) allows you to buy assets on credit with the biz as the guarantor and not you & your personal credit as the backer.
4. A write-off is just using an asset’s value to lower your taxable revenue/income. So be smart...if you buy a $250k Lambo Urus cuz it 6k lbs but ya biz only made $50k ya hustling backwards! LOL! Serious accounting & IRS red flags go up!
Bless the day I discovered the EYL !!
I have multiple businesses and a non-profit and I have never known this y'all dropping mad knowledge bro keep it up💪🏾💪🏾💪🏾💪🏾❤️❤️
Everything happens when it's scheduled too and this video is no exception. It showed up in my recommendations at the correct time especially when we are getting ready to upgrade our family vehicle and we own businesses.
This a good one . Quick simple straight to the point . Bring her back
Did you get it?
I'm so happy and grateful that I found this page!!
If Shaquanna CPA had her own RUclips channel, I would definitely subscribe. Every video she has ever appeared in, should be on her channel, too.
Yoo u guys platform is super DOPE! I really appreciate what u guys r doing man!
My father was the first person to teach me you could get a car in your business name.
I’m assuming you have to register the company first? Or does it work for sole proprietorship?
???
My 19 year old son explained it to me....🤦🏽♀️
my white classmates with bmw and rx7 told me about it...back in the 90s lol..sad part is my mother is a CPA & never taught me about writing off vehicle costs lmao
Okay .. please tell us what to do. Lol
I understand you to say, you can lease a vehicle in your business name. That's good to know also.
VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *850 CREDIT RESTORATION* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well
Love the energy! Glad I found this recommendation! Everything you say is 900 million % so true and correct!
Love the energy! Glad I found this recommendation! Everything you say is 900 million % so true and correct!
Dang I just learned something. Need to make some changes because I would love to use my business info for all of this. Been doing it wrong for so long. Thanks for the education.
Great information also you will need to look up setting up a DUNS account. That's an account that allows you to build business credit. So just like she mentioned get gas card, office max card, etc.. but make sure to check if they report duns account to the credit bureaus. Great information i love what yall boys doing and keep pushing great information.
Do you have to pay for it or something?
@@chowderrsenpaii its a number that is attached to your LLC EIN number you will need to request your number and when you apply for a card like at office max, lowes, or a place where you buy supplies for your business. Just make sure to ask if they accept duns account number and if they send in reports to credit bureaus. That's one way you can build business credit for your company
@@TomorrowsKingdom When you apply at one of office supply stores with ein will it be attached to your social security number for approval?
@@LoveTheEighties yes it will be just like when you create your LLC you will get a EIN that's attached to your LLC and they go off your personal credit for whenever you use your business credit card.
Great information guys. Thank you so much. Just started my LLC and I want to do things right.
She's very knowledgeable and communicates information very well. I enjoyed listening to her 😎
This is great info to share. For the mileage you can use the app called (Mile IQ) which tracks your mileage that you use for your business. The one thing she didn't mention about using Section 179, which allows you to write off $25k on a business vehicle in the FIRST YEAR that is over 6000lbs. This is what you do, buy the truck and let the tax write off pay for the first two years of your payment. Then trade it in after the two years and do it all over again. You will never make a payment this way. (mind = blown)
You use The Grant Cardone method too 😉
so you're not making payments at all? I'm confused
Explain a little more.... I have an LLC business I started back in nov 2019... I don’t kno where to start for business credit and credits cards but where do I need to start in order to buy my dream car in my business name
I would love to come on the show and speak about business credit. It is very important that all expenses are under the businesses name.
Do you have a website?
i need her as my CPA! the lady i go to didnt tell me nothing about this and i have an LLC
I understand I just decided to stop dealing with mines because she wasn't transparent bout things tht could help my business , I'm following
Yea these people are God sent.. We support them and they return the favor with gems!
Llc or corp, do you get the same write off perks?
@@christopherturner8386 def God sent he tryna give us what we deserved for years 💯❤️
She probably didn’t know
Wow so important to have an active accountant
Very useful. Beautiful to see Kings and of course the Goddess whom joined.
They really got me out here tryna finesse. I appreciate y’all spreadin love to the hood on a real educational tip.
They don’t want us knowing this so y’all put us on. Thank y’all. One.
Awesome gems thank y’all for put these informational,life changing, game changing sessions together. All praises to the most high 🙏🏿🙏🏿
I’m intrigued by their honesty and service
Well, I agree with majority of her presentation. I have a fuel man gas card $14K. It’s good to have to build my business credit and great for having all gas expenses on one card for easy tax write offs. But, I have a chase business card that gives me bonus points for using for gas has the highest bonus points to earn. So, I use my chase business card to earn the points. The points add up to free hotel, rental cars, airplane travel or just apply towards my balance and receive credit.
You guys put chills threw my body so I know what your doing is 💯 love. I just stared my business last week and have no idea what I’m getting into just jumping in and helping employ teenagers in my community. Idk what the price will be but I’m going to try and start putting something to the side cause I really wanna be a part of this group. Keep doing what your doing💯💪🏾 we all need this blessing.
NOBODY BECOMES A MILLIONAIRE OR A BILLIONAIRE BY WORKING FOR OTHERS AND DEPENDING ON THEM, GOOD INVESTMENT BRING MILLIONS OF DOLLARS, AND CONSISTENCY BRING
You're right .....
That is why I had to start forex trading 2months ago and now am making benefits from it.....
@@gregorychristine9972 Miss Madeleine letitia is legit and her method works like magic I keep on earning every single week with her new strategy
@@patrickcarolyn2406 I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Miss Madeleine letitia
@@isabellamason9885 My first investment with Miss Madeleine letitia gave me profit of over $44,000 US dollar
Success is dependent on the action or steps you take to achieve it. Show me a man who doesnt have an investment and I will tell you how soon he'll go broke Investment is building a safe haven for the future: with the right choice of investment that has at least 1% minimum risk and with an Expert guidance, profit and interest should be guaranteed.
Yeah that's true, Success comes as a product of work, you don't sit and wait for it
Successful people don't become that way Overnight. What most people see at a glance-wealth, a great career, purpose-is the result of smart work and patience over time.
Success isn't just about what you accomplish in your life; it's about what you inspire others to do
Yeah! I agree with you
If you want to be successful have the mindset of the rich, spend less and invest More. Don't give up your dreams.
GLAD I JUST CAME ACROSS YOUR PAGE. GREAT JOB!!!
Shell is guaranteed approval. They do not require a PG.
@@marcoskenny1052 you do XRP?
@Earn Your Leisure im interested bro how can I get in contact
@aim high academic I have an llc but no credit yet will I get approved from shell?
@@truthknocksthebrainsoutoff6693 Yes. I’m so glad to confidently say, “Yes”. I submitted my application late one night. One week later I called yo check my status. My cards were already in the mail. Another company you may like is 5 Star Processing. They issued me a card within 3 weeks. I have an A rating with D&B with 6 trade lines. I’m stilling learning, but will share all I learn.
Tristan.... correction... begin with Net 30 acts. Shell does require 3 trade lines first. I got zealous.
Co applicant versus co signer jewels 👊🏾
So glad I seen this some powerful and useful information 🙏🏽.
Definitely appreciate y'all doing this! this is how alot of us will business and finances. Thank all of you!
Will learn business and finance.
I was literally looking for a video on this topic earlier today! 🙏🏾
There are also those people who have great credit, a high credit limit, always pay on time, but no financial responsibility because they are living on credit and their parents are still paying their bills at 36 years old it is because I thought so too. I had a medical condition which put me through a lot, things were not working out, it cost me a lot, let me spare you the tale of my woes and give you the good news I had a credit score of 540 as at last year before a friend told me about LEGITREPAIRS🎡ORG, initially, I was skeptical but they have been able to increase my score to 791.
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I'm 40 years old, married 11 years, and we have 2 children. First four years of our marriage, we had 3 cars stolen. Then a car that was flooded a few years later, then our rented house and another car flooded a couple years after that (we had to swim out of our house) . I've never made nore than $20/hr in my life. In 2015, we were $110K in debt. Student loans, car, and credit cards. Now, in 2019, we are $50K in debt, with only student loans and our car. We've been watching EVERY penny. In the past 4 years, we've cut out $60K of debt. I'll be 45 when we are able to buy our first house, and our children will be teenagers, such is sad, but we will not have any other debt. What makes me happy is that our children are going through this struggle with us. When they are old enough to be our in the world, they will already know what my wife and I have been learning for the past 11 years, and am glad Jason doesn't want the stress for us, he comes online and introduce us to LEGITREPAIRS🎡ORG 2017, no much talk i got a perfect credit score combination with wife
Thanks!
man man man!!!! yall did it again. best believe, ima invest in your podcast and invest in myself using this knowledge!!! thank yall thank yalllllllll
This wealth of information!🙏🏾
Factz
Question is the insurance under the business name as well? Would it be considered commercial insurance? It is cheaper or more expensive than regular insurance
YoungKing the insurance will have to go under the business name. The rate tend to be a little higher. But that all depends on your credit and driving record as well.
The rate will be higher but based on your credit
In many cases of work trucks, your rate can be the same or lower. Ideally, you want to find a package deal or B.O.P. (Business Owners Policy). This combines your General Liability, Property, and Commercial Auto policies
In my case commercial insurance has been way better and less expensive for me. I go through Geico Commercial
@@belizeanhippi3 can you write off the insurance payments as well ?
Shout out to her went to high school wit her glad to see her doing great and helping people
I hired him ASAP and he did a monumental job by helping us raise our credit Score to 823 and 789 respectively and also removed all nevatives items replacing them with trade lines just couple of days after we fixed agreement.
Why do you guys have so many comments about Bitcoin and cryptocurrency under your video. It’s annoying and is irrelevant to this topic!
Bots my dear, bots. They are Bots...
@@olandofuller5588 exactly
Spam Bots
Bots 😂 y'all sleep crypto is the new 🌊 I just made 140% profits in 4 weeks. Too bad I only had 3500% to invest but I'm back in the game now 2017 I made 50k and I was investing using youtube crypto channels
Great video I got to start using my business credit card for gas
The downside is that getting commercial insurance is more expensive than personal.
That’s a big fact
Can you write that off too though?
Not in Michigan. My commercial insurance was $200 cheaper then my personal insurance 🥴
That’s a reason why I kind of steered away
Depends on the state
Anything that you're doing around your business; save all your receipts even when you go out to eat for business meeting, clothing for your business, everything as long it's business related and yes, car maintenance, tires, oil change like EVER-RY-THING..save your receipts give them to your account. If they don't ask you for that mhm question what else that you're not in the know of. I used to work for a small business he knew none of that; when I got him his 1st business credit card and gas card he didn't know how to think me so now I just made his accountant job easier.
that’s why you use a business credit card and connect it with quickbooks
I LOVE LOVE LOVE the Chase App. They take banking to a new level. I've been banking with Chase for my personal Acc for about 4 years now. They're just a lil too expensive for me as a business owner that's just starting off. Imho you have to have too much month to month average balance sitting in your business acc to negate the fees. My credit union has NO month to month fees on my business acc no matter my balance.
Who is your credit union?
Thank you for this video I was literally just looking for this information 💎💎💎
Interesting! I still think "credit score" is one of the greatest scams and discriminators of our time! When I paid off all my debt, my score went down significantly. Money in the bank, cash flowing paid for rental houses but nope, banks do not like that. No wonder the system went upside down! Really wanted to emote bad records and inquiries off my credit repott i came across 850creditrestoration🎡net just recently after i've been using Lexington Law for over two years, I'm glad i have a clean profile No
I am beyond impressed by this young lady ☕️✍🏾🧘🏾♂️💸
Okay...... reach us on Telegram@👇🏾
theearnyourleisure.....to join the family/community
Does she have a link if you wanted to connect with her for business
@V12 prodigy thanks
In order to put anything of large caliber on your business account, you will have to have documents to prove prove that you are expected to grow, and you also have a trust worthy revenue stream.
This is brilliant information and has answered all of my questions about business finance management! Thanks for posting!
Another thing about having your car in your business name when the police run your tag and it comes back to a business they will most likely not bother you
Not true. But the way you are cited will be in your favor if you keep a camera in your vehicle
The person making this comment must not be Black
@@keithmurray3827 super blk
OMG yes I was waiting for y'all to put this 💎💎 out on RUclips I have a luxury car through my business (LLC)
@@marcoskenny1052 I am still pretty new at trading only 2 1/2 months in...I try to listen to money market mondays they host but get lost sometime being that I'm still new u know but I'm look into focusing on bitcoin more seriously
Do you mind letting me know how you got started on that ? This my email poodyistheman@gmail.com
@@gatesstudygroup8913 went to my credit union (bank) where my business account is, talked to the appointed business financial associate, told her my plan of needing a transportation for my biz. Told me what I needed to do, what they looking for in order to get a loan from them I went and did it...all banks need differ things from you (your business ) to qualify for the loan but get a duns# type it in on Google, its easy to apply for, then google cards that report to duns and bradstreet and apply for those. u can also ask ur credit union (bank) what credit cards they have for business acct. n who do they report to.
@@christabelbas9177 how can I learn more & invest?
@christabel bas hi. I’m new to trading too and I’m interested in crypto currency. Can I also reach out to you. I really need guidance
I talk with my CPA every other month. 💎
This chica is brilliant at explaining to ordinary people.
I have degrees in engineering and accounting, I knew most of this stuff but shes explaining in 1 sentence what would take me paragraphs to explain does this girl have a channel?
She should have a huge channel if she marketed to business consultants just learning to present like she does.
I've probably clicked off enough hoo-rah presentations that I could've learned something from, cuz I don't have time to listen to the hoo-rah spiel before I hear something useful.
I need to re-watch, HOW this chica presents should be the gold standard for financial advisors. Stop insulting peoples intelligence, give the facts in a clear concise way, cut the hoo-rah bullshit, and let the client ask when they have questions.
Why are you calling her chica and girl? She cleary a women.
Will the gas cards report to Dunn and Bradstreet? If not, then how is it reported to the credit bureaus?
Before going for a car I need to invest in a Good Trade that we earn me more profit
Going for a car is good but it depends on Which trade we you think of investing in if not crypto currency for a fast result
Not just investing but also knowing a reliable platform that is trust worthy
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Audrey
She has been handling my account for years now
wow I'm just shock someone mentioned and recommended expert Mrs Audrey I thought I'm the only one trading with her with her new strategy
How do you register your business in different states or with the same name is it even possible?