THANK YOU to everyone who’s given me thoughtful advice, and to those of you who’ve donated to sponsor me for the Distinguished Gentleman’s Ride so far! 🙏🏻🧡 If you want to sign up for the Annapolis DGR ride (or your own local DGR ride), check out GentlemansRide.com. If you’d like to sponsor me for my DGR ride, you can do so here!- gfolk.me/LifeOfBurch To the few of you who’ve already had negative things to say- I sincerely hope that you’re able to chase your dreams without hitting any bumps in the road. For most of us, that’s not the case. This is just a bump in the road and we’re still gonna crush it this year! 🤘🏻🤘🏻🤘🏻
Hey man I always forget your channel isn't already in the millions! Your content is amazing and worthy of massive success. Sell whatever you find necessary. We're not gonna bash you for trying to survive by selling something. Good luck 👍 I hope everything goes to plan
I would talk to a CPA to see what you can deduct such as the bikes and the garage seeing that you use them to make RUclips content that you use as some income stream
Suggest you ask a CPA for estimated taxes (Firm 1099-ES) to avoid end of year surprises. I was a 1099 for several years and it took me a while to work out the numbers.
I bet a lot of tubers are deducting all kinds of things. Coffee, tacos, editing computer, cameras, mileage, etc. Smart CPA might reduce those taxes and it is not too late to re-file too.
Yeeaaa this is after all the deductions from garage, bikes, equipment, etc. It originally was gonna be like $3k more that I owed 😅 Quarterly estimated tax payments are for sure the way to go this year!
The garage has to go 100%! 400 bucks a month back in your pocket to get yourself all sorted regardless of wtv decision you make about getting rid of the FZ07. That 400 can go a long way...
Keep that rebel is all im asking for, ditch the garage and fz and grom.. You can always aquire a bike or project that you could make videos off of..we watch the videos not only for the bimes you seem like a good honest person
Man that's tough. If I where you I would sell the bike say goodbye to the garage. Get those two issues fixed then not need to worrie about it then later down the road get the bike you want when you got the money. The best thing is to stay out of debt and you also get an extra 400 a month to save for a new bike.
Feels like a knife to the heart to have to give up something you really enjoy. Wish I could offer more than my sympathy. Donated & also I'm taking part of this ride in Finland :)
Hey man, do what you need to do. I know personally I’d rather see less quantity and better quality. Great videos, gonna cost me a lot of money if burley brand ever decides to ship to Canada lol.
Thanks for the insight man! I definitely didn’t mean to potentially make you go broke too! 😅😂 (But for what it’s worth, I’m pretty sure Burly Brand has said they’ll ship to Canada if you give them a call 👀👀👀)
That’s tough man. Yet a lesson you can learn from. You’ll be better off after this brother. Imo… the garage is key… this will aid in your video content throughout the winter months. If you recall, I asked previously what your plan was and how far you plan the schedule of your videos. I’m just getting started myself, (just passing my first year with my channel) I scheduled out my winter so I could continue having a video per week. I’m sure you can do similar as you have the same issue with the winter as I do. Again just a thought. Hope all works out Mike. Keep up the great work!!
Thanks for the insight brotha! The garage is definitely the most questionable thing for me for exactly that reason- it does add value for installs and for the winter months. It’s just a balance of trying to figure out if it adds enough value to be worth it, especially once I’m down to just one bike. Definitely gives me something to think about! 🙏🏻🙏🏻🙏🏻
Burch, I highly respect you for trying to avoid debt. I have to admit when you got the garage and said it was $400 a month, I thought that was expensive, but I figured maybe cost of living is just that much higher than what I have. If you sell a bike definitely get rid of the garage. Are there any storage building places near you? Could you rent one of those much cheaper? Good luck, keep making your videos.
Thanks Robert!! There’s a storage place near me, but they want $250 for a space smaller than this that I also wouldn’t be able to film in. I definitely don’t live in the most affordable area 😅 I’m trying to find a cost effective storage option though in case I decide to axe the garage.
Yea. I know the cost of living is low in my area but I was shocked to hear that much for just a garage. My house payment is $600, on an acre with an attached 2 car garage. Sure Indiana is “boring” and “nothing but cornfields” but dang… I’m always amazed at how high COL is in other places.
I think you'll be great! I have faith in you! I wish I could be more supportive on Patrion... but things are what they are...keep up the good vibes! Will be looking for your next video..Jerry
I've never sold a motorcycle without regrets. I feel your pain. Something tells me life is about to improve for you (LOL, found an old video I had missed and now I feel like a fortune teller).
Dont stress out too much brother Burch. In due time you'll figure it out and have some more money in your pocket. 2022 is your year brotha and youll do what you gotta do to make the money, and if selling the FZ06 is the move then go for it.
Also, I think that you should make videos about whatever you want them to be about. Sometimes its a rant or sometimes is an adventure, either way the people that support your channel will watch and support whatever you make and the haters who complain can find another channel that suits them better. Keep doin you burch
Riding a rebel on the "distinguished gentleman" would be fitting 😉. I'm 61, still heavily into riding bikes. Was diagnosed with prostate cancer 2 yrs ago. Going ok now but gives you a new perspective on life. Mental health for EVERYONE is critical and SO under treated. If you see a friend that needs you, BE THERE FOR THEM! You can be there for them, even if you don't know what to say. Lost a couple close friends to suicide and it sucks, mainly for the loved ones. You don't always see it coming, especially if they've dealt with mental health issues. They're just gone and you and their family are just shocked and DEVASTATED. I don't always ride responsibility but it is critical to my mental health. Glad I found your channel my friend, you sound like a pretty straight up decent guy.
I agree with JD. Something I was thinking of recently as a fellow youtuber. You use your home, motorcycle and other expenses for your business. Definitely talk with a tax expert to see if you can deduct those things. These are aspects of the business that I too am figuring out starting out as a motorcycle content creator. Head up and keep it positive!
Hi burch 👋 love your channel and your videos are so informative 👌 I have been working my way through them while I wait on my 1100 being delivered (very hard to get the pearl stallion brown in Ireland). If you haven't sorted your storage problem may I suggest making or buying a shed for a small fraction of the cost it would be to rent the garage for the year if your landlord will allow it. A flat pack steel shed the size of the garage in your videos plus timber to reinforce and insulation etc will cost roughly what you were paying for 4/5 months rent and is a good investment for years to come saving a lot of money 🙂 ride safe and keep the rubber side down
Dude btw, the only way is up, knowing you and your content you will have no problem coming back up and possibly stronger and larger than before in all aspects in your life. Look at this as a new beginning and not the end of something. Im going through a similar situation and being this hopeful helps immensely with the coming anxiety and depression. Keep a good attitude and keep moving forward brother, nothing that you can’t handle is ever put before you.
You can try and do a raffle for the fz07. $100 entry or something. That would probably help blow up the channel and potentially you could pull in more than 7k. Just an idea.
I thought about it, but honestly raffles are just sooo much work, especially with how hot the bike market is right now. It’d be easier to just sell it and move on.
At this stage I would say ditch the FZ07 and don't renew the lease on the garage. Get on top of you debt, give yourself some room to breathe. You will be happier and less stressed and that only leads to good things!
Set up an LLC go to your bank after doing so & they'll take out some $ quarterly but here's the thing as a corp you can write off nearly everything especially the first 3 years
I would let the garage go, just make sure your bikes are covered, until you can get a different garage, $400 a month seems pretty steep for a shed that’s 20-30 min away
I just don’t know if I can justify $4,800 a year for a garage though 😔 especially when it puts my bikes so far away from my house. For $4,800 I could literally get a little Amish-built shed and put it on someone’s yard 😂
@@LifeOfBurch That's a fair point. Have you tried talking to the complex you live at about, if you paid for it, putting a carport/cover over a parking spot for your bikes? Probably a long shot but worth a try at least.
Yeah bro I would sell the Yamaha fz07. & maybe if you have a good friend or family member that has a garage maybe they can offer you a lower price for renting out some space.
Pretty sure somebody's probably pointed this out given it's a couple of days old, but surely you can offset the cost of your bikes almost like a workman would offset his tools against the cost of his business because ultimately without the bike there is no revenue stream from RUclips so therefore it's a tool and should be deductible but I'm not sure how your tax system works in the US
You may be able to refinance your home. You need 7k and you should be able to get that out of the house in this inflated market. Your payment may not even go up. That eliminates the debt, spares the bikes and might free up enough for the garage. Remember, where there is a will, there is a way.
Dang Burch. been there done that, selling stuff to pay bills. i know people that own 3 or more motorcycles. why is beyond my reasoning. you can only ride one at a time. granted, fun with options for riding style. i am now retired now, after bills, food, rent, i have about 200 dollars a month left. your intro, i like seeing my bike, the 500 with the orange tank. i don't need a dirt bike, a ADV bike, a crotch rocket. I ride in Florida, everyday(except with 35 mph wind blowing)but i hope things work out, i am well aware of the 1099's. truly sucks. you have a car and 3 bikes? well i hope everything works out. best of luck on the ride in may, if i win fantasy i may see you. take care.
I would ditch the garage, take the 400$ a month you're spending on that and put it towards paying off the credit card. Then maybe ride the FZ07 for a bit and decide if you still want to sell it or keep it. Also quarterly income taxes sounds like the right idea for you.
Okay TWO serious questions; with your amount of subscribers would it be possible to ask dealers to lend you bikes to review them for your channel? Have that bike shop be local so you can promote them during the video review. Second, why in holy hell does it need to be “super good” weather? I live in the Netherlands and ride pretty much all year.. rain, cold.. whatever. Its what makes you a better rider..
Sounds like you have a good plan! I can't say what's right for you, just go with your gut... if it feels like the right thing, whatever that is, go with it!
That would really suck to sell a bike you haven’t had a good chance to ride, but your reasoning is very mature, I think it’s the right decision. Plus it gives you the excuse to search for a new bike when you get more funds, and searching for another bike is one of the best parts of riding motorcycles 😂
I feel ya. My employers didn't take enough out plus I played the stock market and some crypto. Crypto alone had like 30% tax. Now I owe thousands in both federal and state tax. I got to sell a bike too. So hard to choose. Lol
Dude, 1099 jobs suck. I work a side job sometimes that's a 1099 and I always end up having to pay about a third of those earnings back come tax season lol
Let's get on the road and talk about it is a great segway to some wind therapy. I'm watching these videos out of order, but I'm voting for getting rid of the garage. That totally sounded like a huge pain in the ass.
@@LifeOfBurch That's awesome, brother. The path is clear to those deserving of it. That garage was as much as the two bedroom apartment I used to rent.
Yeah, you totally gotta set that money aside ahead of time!! 🙁 Absolutely, nix the garage. $400 isn't chump change. IMO I also would just keep the two bikes.
What I would do moving forward is find out what the usual state/federal rate is for taxes and put some money aside each paycheck so you’re not scrambling to find money when it is tax season
Oh yeah, sell the bike ditch the garage for now. Both can be brought back into the fold later when things smooth out financially. Good luck man I enjoy the channel.
That's a lot to deal with Burch. I thought my issues were bad. I had to pay a lot on taxes, I am trying to get my garage together so I can work on my 3 motorcycles. Maybe start working on other peoples bikes on the side. I got plans... but between work, bad weather, and bills, I can't seem to find time or motivation to do it. Its like quicksand. Shit gets you down while it keeps piling up, and then smothers you. Good news is, I keep getting on with work, Bills are being paid on time, 2 of the 3 bikes are paid off, Next week I'm going to organize my Garage and trash stuff I don't use to the dump, and then all will be right..... I hope.
I know the feeling dude! At least it sounds like we’re both able to see the positive in everything! You should sign up for the Distinguished Gentleman’s Ride with me and Alex by the way! 🙌🏻
How can you sell something you don’t own and use the money to pay the tax bill? If you sell the bike you need to pay the bank for the title to transfer to the buyer.
Definitely get rid of the garage, that's $400 every month and 40+ minutes of your life back for every time you go there, you should get rid of the current garage and find something much closer. As far as the tax thing goes, see if you can get a payment installment started so IRS won't be on your ass about it, then scrape up the money and pay it off asap
ah, my young brother. listen to an older rider. get a financial adviser, one that really know his shit. when your ahead seek passive income. what this will do is smooth out the bad times. that's is how you survive to become and older rider.
Solid advice my guy! I seriously appreciate that! 🙏🏻 I’m for sure working on building passive income as much as possible so that these financial road bumps get smaller and smaller.
I'd sell the FZ07 and get rid of the garage for now. Look for another one near wintertime and perhaps one closer to you. Could just a storage unit suffice?
@@LifeOfBurch By the time winter rolls around, how many more items can you install on the Rebel that you haven't done already. In winter we all get S.A.D. (seasonal affected disorder) and need to hibernate so no need to put pressure on yourself during that time to make videos to justify the garage (in my humble opinion).
Need to get rid of the garage, keep the bike - I don’t know if anyone is willing to support you and let you garage the bikes, but ask friends and family if you can homie. The $400/mo can go towards the CC debt so you can keep the bike
I'm sorry you have to make decisions, thats hard AF. My $.02 is to sell the bike you dont ride much, and if you cant write off the garage and its not providing value, and you have safe spaces to store the other 2 bikes, save yourself that $400. Hope you're able to get everything fogured out!
Dude, im amost buying a bell helmet just like yours! do you have something to say about wind noise? your version of this helmet still have de side door for a intercom?
I would sell the bike, bikes come and go thats the beauty of them and like you said you have not been able to use it. But then again it sucks to pay a lone that gives you nothing (speaking from experience). Get your taxes in order then get another bike ;) as far as the garage goes i say get rid of it as well.. how you describe it, it sounds like it turns it into more of a thing to go for a ride.. i know from my experience that as soon as a hobby turns into more "work" that it has to be it starts sucking the fun out of it 😁 as aways keep up the good work man! Love your vids and have a great easter!
The pandemic has helped me personally to start thinking logically about finances and I share the same mindset as some others here about selling the bike for the reasons you already mentioned. Best of luck and keep up the amazing content!
Responsibility is key for sure! And I’ve thought about moving somewhere more affordable, but I think my radar is more on the North Carolina/south east vibe 👀
this probably won't be good for your metal health in the short term but could work long term what about selling all your bikes stop storage garage pay off debts and buy a new latest bike out you like for new content new subscribers like you did with the rebel 1100
That's a problem for sure. Won't be any help for this year but for next year you should think about making quarterly estimated tax payments. This solves the big shock at end of year. Any decent tax advisor can give you the information and help set it up, if necessary. At a minimum, consider calculating your income quarterly and set a reasonable percentage aside in a savings account so it will be there at tax time. Good luck.
Yea I’m for sure doing quarterly payments this year! Already got it set up. I was setting money aside, but the whole ‘rona situation depleted all that. Quarterly payments should fix this moving forward for sure 🙏🏻
Yo dude! I just rock some cheap Joe Rocket Eclipse gloves- amzn.to/3nc2NHY I also have some Joe Rocket winter gloves, but I don't remember the name of them off the top of my head. They're much bulkier and I only use them below like 45 degrees.
You may want to consider relocating to a climate that is more compatible with making motorcycle content for RUclips. Your limited to the amount of time you can ride and create content. It’s a huge decision and a lot to consider, but I think it’s worth considering.
Well honestly.....sell the bike. Also the garage makes it sound like a second job. Sometimes you just cant take a bike. End of the season is a weird time to buy a bike too. Not knocking you, I bought my Rebel in October. Only got it because of how few I saw bouncing around all last year. Hope it all settles out for you man. Cut back, recover, come back twice as strong.
I would definitely sell the bike, especially if it's extraneous and doesn't get used much. It's pragmatic and it sucks but you gotta do what you gotta do to keep things from spiraling. Plus it sounds like the garage isn't doing too much for you other than adding stress.
Thanks dude! I definitely dig it without the pad, and I have the pad under my seat so I can throw it on real quick if I ever pick up Nina last minute 🤘🏻
Man I would go down to the rebel, build the pocket money back up. Loose the grauge, you can aways get another motorcycle or grauge later down the road. But for now one bike and less money going out a mouth means less stress now.
Big facts man! Sounds like we’re on the same page. The more debt I have, the more stress I have. And I don’t want that showing through in my content 🤘🏻
I think the biggest positive of this is the “result of my own decisions” line. So many people now days love to be the victim and never take responsibility. You’ve hit a rougher patch, but are willing to make the sacrifices and change what needs to be done. That’s being a man. I’m 35, live in a much cheaper area, etc. but from the limited amount of info, I’d vote get rid of the bike and the garage. Get caught up, build up some good savings, and set you a good foundation. You’re still young, you can always get that bike again. having 3 bikes, one with a payment, rent on a garage, etc and a lingering IRS prob just isn’t worth it. I had a payment on a Fatboy when my wife got pregnant with our first kid. I loved riding, had been doing it for about 8 years at the time and had just got the Fatboy the summer before (had a CBR before that). I decided I didn’t need a payment on a “toy” when I needed to be building a foundation for a child. It sucked but now, 8 years later, I have a paid off 2010 Wrangler, my wife has a paid off minivan she loves, and I bought a VStar 1300 this year in cash. The sacrifice was worth it. Without the bike u can ditch the garage, clear the debt and take care of the IRS. Then a year from now you’re in a much better more solid place and can reevaluate at that time. Good luck bro and most importantly ride safe.
Hey man, I feel your pain. I owe a lot this year as well. Did you do your own tax return? I ask because I work on tax returns and I feel your pain. I also love motorcycles. If you did your own return, I would be happy to look at it to see if there is anything else we can deduct to reduce your tax bill. Shoot me a DM if you are interested.
THANK YOU to everyone who’s given me thoughtful advice, and to those of you who’ve donated to sponsor me for the Distinguished Gentleman’s Ride so far! 🙏🏻🧡
If you want to sign up for the Annapolis DGR ride (or your own local DGR ride), check out GentlemansRide.com. If you’d like to sponsor me for my DGR ride, you can do so here!- gfolk.me/LifeOfBurch
To the few of you who’ve already had negative things to say- I sincerely hope that you’re able to chase your dreams without hitting any bumps in the road. For most of us, that’s not the case. This is just a bump in the road and we’re still gonna crush it this year! 🤘🏻🤘🏻🤘🏻
How does your job feel about promoting the restaurant? Increase possibly tip potential?
Hey man I always forget your channel isn't already in the millions! Your content is amazing and worthy of massive success. Sell whatever you find necessary. We're not gonna bash you for trying to survive by selling something. Good luck 👍 I hope everything goes to plan
Thanks brotha!! That means more than you know, for real! 🙏🏻🙏🏻🙏🏻
I would talk to a CPA to see what you can deduct such as the bikes and the garage seeing that you use them to make RUclips content that you use as some income stream
Suggest you ask a CPA for estimated taxes (Firm 1099-ES) to avoid end of year surprises. I was a 1099 for several years and it took me a while to work out the numbers.
Turbotax will "take care of the rest" or so they say
I bet a lot of tubers are deducting all kinds of things. Coffee, tacos, editing computer, cameras, mileage, etc. Smart CPA might reduce those taxes and it is not too late to re-file too.
Yeeaaa this is after all the deductions from garage, bikes, equipment, etc. It originally was gonna be like $3k more that I owed 😅 Quarterly estimated tax payments are for sure the way to go this year!
The garage has to go 100%! 400 bucks a month back in your pocket to get yourself all sorted regardless of wtv decision you make about getting rid of the FZ07. That 400 can go a long way...
Keep that rebel is all im asking for, ditch the garage and fz and grom.. You can always aquire a bike or project that you could make videos off of..we watch the videos not only for the bimes you seem like a good honest person
I've been through some very lean years too. Just keep working hard and you'll get through it. God bless you.
Man that's tough. If I where you I would sell the bike say goodbye to the garage. Get those two issues fixed then not need to worrie about it then later down the road get the bike you want when you got the money. The best thing is to stay out of debt and you also get an extra 400 a month to save for a new bike.
^ I second this
True that! Good thinking brotha 🙏🏻
Feels like a knife to the heart to have to give up something you really enjoy. Wish I could offer more than my sympathy. Donated & also I'm taking part of this ride in Finland :)
Hey man, do what you need to do. I know personally I’d rather see less quantity and better quality. Great videos, gonna cost me a lot of money if burley brand ever decides to ship to Canada lol.
Thanks for the insight man! I definitely didn’t mean to potentially make you go broke too! 😅😂 (But for what it’s worth, I’m pretty sure Burly Brand has said they’ll ship to Canada if you give them a call 👀👀👀)
That’s tough man. Yet a lesson you can learn from. You’ll be better off after this brother.
Imo… the garage is key… this will aid in your video content throughout the winter months. If you recall, I asked previously what your plan was and how far you plan the schedule of your videos. I’m just getting started myself, (just passing my first year with my channel) I scheduled out my winter so I could continue having a video per week. I’m sure you can do similar as you have the same issue with the winter as I do. Again just a thought.
Hope all works out Mike. Keep up the great work!!
Thanks for the insight brotha! The garage is definitely the most questionable thing for me for exactly that reason- it does add value for installs and for the winter months. It’s just a balance of trying to figure out if it adds enough value to be worth it, especially once I’m down to just one bike. Definitely gives me something to think about! 🙏🏻🙏🏻🙏🏻
Burch, I highly respect you for trying to avoid debt. I have to admit when you got the garage and said it was $400 a month, I thought that was expensive, but I figured maybe cost of living is just that much higher than what I have. If you sell a bike definitely get rid of the garage. Are there any storage building places near you? Could you rent one of those much cheaper? Good luck, keep making your videos.
Thanks Robert!! There’s a storage place near me, but they want $250 for a space smaller than this that I also wouldn’t be able to film in. I definitely don’t live in the most affordable area 😅 I’m trying to find a cost effective storage option though in case I decide to axe the garage.
Yea. I know the cost of living is low in my area but I was shocked to hear that much for just a garage.
My house payment is $600, on an acre with an attached 2 car garage. Sure Indiana is “boring” and “nothing but cornfields” but dang… I’m always amazed at how high COL is in other places.
I think you'll be great! I have faith in you! I wish I could be more supportive on Patrion... but things are what they are...keep up the good vibes! Will be looking for your next video..Jerry
I've never sold a motorcycle without regrets. I feel your pain. Something tells me life is about to improve for you (LOL, found an old video I had missed and now I feel like a fortune teller).
Dont stress out too much brother Burch. In due time you'll figure it out and have some more money in your pocket. 2022 is your year brotha and youll do what you gotta do to make the money, and if selling the FZ06 is the move then go for it.
Also, I think that you should make videos about whatever you want them to be about. Sometimes its a rant or sometimes is an adventure, either way the people that support your channel will watch and support whatever you make and the haters who complain can find another channel that suits them better. Keep doin you burch
Riding a rebel on the "distinguished gentleman" would be fitting 😉. I'm 61, still heavily into riding bikes. Was diagnosed with prostate cancer 2 yrs ago. Going ok now but gives you a new perspective on life. Mental health for EVERYONE is critical and SO under treated. If you see a friend that needs you, BE THERE FOR THEM! You can be there for them, even if you don't know what to say. Lost a couple close friends to suicide and it sucks, mainly for the loved ones. You don't always see it coming, especially if they've dealt with mental health issues. They're just gone and you and their family are just shocked and DEVASTATED. I don't always ride responsibility but it is critical to my mental health. Glad I found your channel my friend, you sound like a pretty straight up decent guy.
No issues riding the Rebel 1100 in DGR?
I agree with JD. Something I was thinking of recently as a fellow youtuber. You use your home, motorcycle and other expenses for your business. Definitely talk with a tax expert to see if you can deduct those things. These are aspects of the business that I too am figuring out starting out as a motorcycle content creator. Head up and keep it positive!
Hi burch 👋 love your channel and your videos are so informative 👌 I have been working my way through them while I wait on my 1100 being delivered (very hard to get the pearl stallion brown in Ireland). If you haven't sorted your storage problem may I suggest making or buying a shed for a small fraction of the cost it would be to rent the garage for the year if your landlord will allow it. A flat pack steel shed the size of the garage in your videos plus timber to reinforce and insulation etc will cost roughly what you were paying for 4/5 months rent and is a good investment for years to come saving a lot of money 🙂 ride safe and keep the rubber side down
Dude btw, the only way is up, knowing you and your content you will have no problem coming back up and possibly stronger and larger than before in all aspects in your life. Look at this as a new beginning and not the end of something. Im going through a similar situation and being this hopeful helps immensely with the coming anxiety and depression. Keep a good attitude and keep moving forward brother, nothing that you can’t handle is ever put before you.
You can try and do a raffle for the fz07. $100 entry or something. That would probably help blow up the channel and potentially you could pull in more than 7k. Just an idea.
I thought about it, but honestly raffles are just sooo much work, especially with how hot the bike market is right now. It’d be easier to just sell it and move on.
At this stage I would say ditch the FZ07 and don't renew the lease on the garage. Get on top of you debt, give yourself some room to breathe. You will be happier and less stressed and that only leads to good things!
Set up an LLC go to your bank after doing so & they'll take out some $ quarterly but here's the thing as a corp you can write off nearly everything especially the first 3 years
Thanks!
🤯🤯🤯 Holy crap…THANK YOU!! I don’t know what to even say 😳🙏🏻🙏🏻🙏🏻
@@LifeOfBurch You're so welcome! Love your videos! You and Nina are awesome and I'm so happy for you guys! Keep up the great work!
I would let the garage go, just make sure your bikes are covered, until you can get a different garage, $400 a month seems pretty steep for a shed that’s 20-30 min away
I would definitely sell the FZ and ditch that garage! Maybe another garage opportunity will present where you can start your videos from…
True that! Everything happens in perfect timing, so far all I know there’s an even better garage waiting for me down the road! 🙏🏻🙌🏻🤘🏻
Leaving the queen Anne outlets soon , headed for Dock street. Riding a BMW R1200RT today
I would prioritize keeping the garage. Garage keeping your current bikes is a lot more important than multiple bikes imo.
I just don’t know if I can justify $4,800 a year for a garage though 😔 especially when it puts my bikes so far away from my house. For $4,800 I could literally get a little Amish-built shed and put it on someone’s yard 😂
@@LifeOfBurch That's a fair point. Have you tried talking to the complex you live at about, if you paid for it, putting a carport/cover over a parking spot for your bikes? Probably a long shot but worth a try at least.
@@LifeOfBurch yah and 20min drive huge pain in the rear
Yeah bro I would sell the Yamaha fz07. & maybe if you have a good friend or family member that has a garage maybe they can offer you a lower price for renting out some space.
True that! I’ll have to see if I know anyone close by with a garage 🤔
I have to pay them money e every year as well. But … I give payments . Long as you are paying them even if it’s slowly, you’ll be fine
Yea I have quarterly payments set up this year! That should definitely be a big help.
Pretty sure somebody's probably pointed this out given it's a couple of days old, but surely you can offset the cost of your bikes almost like a workman would offset his tools against the cost of his business because ultimately without the bike there is no revenue stream from RUclips so therefore it's a tool and should be deductible but I'm not sure how your tax system works in the US
You may be able to refinance your home. You need 7k and you should be able to get that out of the house in this inflated market. Your payment may not even go up. That eliminates the debt, spares the bikes and might free up enough for the garage. Remember, where there is a will, there is a way.
Dang Burch. been there done that, selling stuff to pay bills. i know people that own 3 or more motorcycles. why is beyond my reasoning. you can only ride one at a time. granted, fun with options for riding style. i am now retired now, after bills, food, rent, i have about 200 dollars a month left. your intro, i like seeing my bike, the 500 with the orange tank. i don't need a dirt bike, a ADV bike, a crotch rocket. I ride in Florida, everyday(except with 35 mph wind blowing)but i hope things work out, i am well aware of the 1099's. truly sucks. you have a car and 3 bikes? well i hope everything works out. best of luck on the ride in may, if i win fantasy i may see you. take care.
I would ditch the garage, take the 400$ a month you're spending on that and put it towards paying off the credit card. Then maybe ride the FZ07 for a bit and decide if you still want to sell it or keep it.
Also quarterly income taxes sounds like the right idea for you.
Hey man you think you can make a video on how to start motovlogging/ RUclips tips? Love ya vids man
Okay TWO serious questions; with your amount of subscribers would it be possible to ask dealers to lend you bikes to review them for your channel? Have that bike shop be local so you can promote them during the video review. Second, why in holy hell does it need to be “super good” weather? I live in the Netherlands and ride pretty much all year.. rain, cold.. whatever. Its what makes you a better rider..
Sounds like you have a good plan! I can't say what's right for you, just go with your gut... if it feels like the right thing, whatever that is, go with it!
That would really suck to sell a bike you haven’t had a good chance to ride, but your reasoning is very mature, I think it’s the right decision. Plus it gives you the excuse to search for a new bike when you get more funds, and searching for another bike is one of the best parts of riding motorcycles 😂
Ayyy VERY true! Sometimes searching for a bike is more fun than actually owning it 😂😂😂
Have fun gentlemen and stay safe!!
Thanks dude!! 🤘🏻
You should put it on a tax payment plan with IRS if you ever find yourself in that position. Super low interest, was better than credit card
Hey man, you can use our garage for free but we’re in central Delaware so it would be a bit of a ride.
Man, I wish I could go, I need to find something like this in Europe!
I feel ya. My employers didn't take enough out plus I played the stock market and some crypto. Crypto alone had like 30% tax. Now I owe thousands in both federal and state tax. I got to sell a bike too. So hard to choose. Lol
It’s hard out here! But it’s fortunate that it sounds like we’re both in the position to be able to sell something and come up with the funds 🙏🏻🙏🏻🙏🏻
"I don't like debt." Realizes that the best business model, best way to create fresh currency and best sustainable revenue is ACCRUED INTEREST!!!
Keep your head up bro. You’re up next with this channel. ✊🏼
Dumb question are they cool with sports bike as long as we are dressed right? Completely understand if they aren't
Dude, 1099 jobs suck. I work a side job sometimes that's a 1099 and I always end up having to pay about a third of those earnings back come tax season lol
Let's get on the road and talk about it is a great segway to some wind therapy.
I'm watching these videos out of order, but I'm voting for getting rid of the garage. That totally sounded like a huge pain in the ass.
It sure was, and it’s now gone! Haha I moved out May 10th and it was FOR SURE the best decision I could’ve made 🙏🏻
@@LifeOfBurch That's awesome, brother. The path is clear to those deserving of it. That garage was as much as the two bedroom apartment I used to rent.
Yeah, you totally gotta set that money aside ahead of time!! 🙁
Absolutely, nix the garage. $400 isn't chump change.
IMO I also would just keep the two bikes.
7 GRAND!!!!, I really hope you vote red!!!
keep the faith
If you ditch the 07 you won't need the garage.
What I would do moving forward is find out what the usual state/federal rate is for taxes and put some money aside each paycheck so you’re not scrambling to find money when it is tax season
Nice video. Good luck with the problems man, so happy you kept the rebel. I love that bike and can't wait to make money to buy her
Oh yeah, sell the bike ditch the garage for now. Both can be brought back into the fold later when things smooth out financially. Good luck man I enjoy the channel.
$400/mo for a garage seems really high! Why not get rid of the garage and use that money to pay off the card?
Hey I just started following you and your content is great been learning so much. I was wondering what helmet you where? The audio sounds great.
Have you considered selling the condo and renting or buying a house with a garage maybe I area where you can get more for your money? Just a thought
That's a lot to deal with Burch. I thought my issues were bad. I had to pay a lot on taxes, I am trying to get my garage together so I can work on my 3 motorcycles. Maybe start working on other peoples bikes on the side. I got plans... but between work, bad weather, and bills, I can't seem to find time or motivation to do it. Its like quicksand. Shit gets you down while it keeps piling up, and then smothers you. Good news is, I keep getting on with work, Bills are being paid on time, 2 of the 3 bikes are paid off, Next week I'm going to organize my Garage and trash stuff I don't use to the dump, and then all will be right..... I hope.
I know the feeling dude! At least it sounds like we’re both able to see the positive in everything! You should sign up for the Distinguished Gentleman’s Ride with me and Alex by the way! 🙌🏻
Simple. Set up a IRS payment plan. You can spread this over years and not take the entire hit right now.
you gotta do what you gotta do. Take this year has a reset so you'll be better shape next year
I like where your head’s at! 🙌🏻
How can you sell something you don’t own and use the money to pay the tax bill? If you sell the bike you need to pay the bank for the title to transfer to the buyer.
Definitely get rid of the garage, that's $400 every month and 40+ minutes of your life back for every time you go there, you should get rid of the current garage and find something much closer. As far as the tax thing goes, see if you can get a payment installment started so IRS won't be on your ass about it, then scrape up the money and pay it off asap
ah, my young brother. listen to an older rider. get a financial adviser, one that really know his shit. when your ahead seek passive income. what this will do is smooth out the bad times. that's is how you survive to become and older rider.
Solid advice my guy! I seriously appreciate that! 🙏🏻 I’m for sure working on building passive income as much as possible so that these financial road bumps get smaller and smaller.
Haha well i normally dress up when i ride my grom because i go to work in a suit!!
400 for that shed is wild
I'd sell the FZ07 and get rid of the garage for now. Look for another one near wintertime and perhaps one closer to you. Could just a storage unit suffice?
Yea I’d most likely just get a storage unit over winter, only downside would be not being able to film in it.
@@LifeOfBurch By the time winter rolls around, how many more items can you install on the Rebel that you haven't done already. In winter we all get S.A.D. (seasonal affected disorder) and need to hibernate so no need to put pressure on yourself during that time to make videos to justify the garage (in my humble opinion).
Need to get rid of the garage, keep the bike - I don’t know if anyone is willing to support you and let you garage the bikes, but ask friends and family if you can homie. The $400/mo can go towards the CC debt so you can keep the bike
I'm sorry you have to make decisions, thats hard AF.
My $.02 is to sell the bike you dont ride much, and if you cant write off the garage and its not providing value, and you have safe spaces to store the other 2 bikes, save yourself that $400.
Hope you're able to get everything fogured out!
Thanks Lori! I appreciate your insights!! 🙏🏻🙏🏻🙏🏻
@@LifeOfBurch which i had better insight for you, but I'm with you on not liking debt and spending money only on things that provide value!
Bruh start a LLC for your channel and you could use purchases for the business as a deductables
Do you know if there's a flash or tune available for 1100 that gets rid of the 100mph speed limiter?
You gained me as a followers at men's health.
do you wanna landscaping job my job is hiring you would just gotta drive over the key bridge
Sell that condo and get the funk outta Annapolis. This channel is nice nice - and you could ride all year. NOLA doesnt have a rep yet....
Dude, im amost buying a bell helmet just like yours! do you have something to say about wind noise? your version of this helmet still have de side door for a intercom?
This is sad to hear. But you have to do things that make financial sense.
True that 🙏🏻
I would sell the bike, bikes come and go thats the beauty of them and like you said you have not been able to use it. But then again it sucks to pay a lone that gives you nothing (speaking from experience). Get your taxes in order then get another bike ;) as far as the garage goes i say get rid of it as well.. how you describe it, it sounds like it turns it into more of a thing to go for a ride.. i know from my experience that as soon as a hobby turns into more "work" that it has to be it starts sucking the fun out of it 😁 as aways keep up the good work man! Love your vids and have a great easter!
Thanks so much bro! I appreciate the insights!! Happy Easter brotha! 🙏🏻🙏🏻🙏🏻
The pandemic has helped me personally to start thinking logically about finances and I share the same mindset as some others here about selling the bike for the reasons you already mentioned.
Best of luck and keep up the amazing content!
Thanks brotha!! Definitely on the same page 🙏🏻🙏🏻🙏🏻
Annapolis right? That sure doesn’t look like Indianapolis. Thought you said Indianapolis lol
Get rid of the garage for sure. I would sell the r7 as well. Responsibility is important. Also, move to tennessee :)
Responsibility is key for sure! And I’ve thought about moving somewhere more affordable, but I think my radar is more on the North Carolina/south east vibe 👀
this probably won't be good for your metal health in the short term but could work long term what about selling all your bikes stop storage garage pay off debts and buy a new latest bike out you like for new content new subscribers like you did with the rebel 1100
suggestions for a phone mount for a 2022 rebel 500?
Have tried promoting your restaurant to increase tip potential?
Where I work at we make parts for the Camaro. I got to sit in one at the factory in Kentucky. It was cool
Dang, that’s pretty sick!!
@@LifeOfBurch I wouldn’t own one though. They have four Engines they can drop in them. Just depends on what you want it do do
That's a problem for sure. Won't be any help for this year but for next year you should think about making quarterly estimated tax payments. This solves the big shock at end of year. Any decent tax advisor can give you the information and help set it up, if necessary. At a minimum, consider calculating your income quarterly and set a reasonable percentage aside in a savings account so it will be there at tax time. Good luck.
Yea I’m for sure doing quarterly payments this year! Already got it set up. I was setting money aside, but the whole ‘rona situation depleted all that. Quarterly payments should fix this moving forward for sure 🙏🏻
400 a month might get you a bigger place with a garage
early ash, im just starting out bro what gloves you recommend??
Yo dude! I just rock some cheap Joe Rocket Eclipse gloves- amzn.to/3nc2NHY
I also have some Joe Rocket winter gloves, but I don't remember the name of them off the top of my head. They're much bulkier and I only use them below like 45 degrees.
You may want to consider relocating to a climate that is more compatible with making motorcycle content for RUclips. Your limited to the amount of time you can ride and create content. It’s a huge decision and a lot to consider, but I think it’s worth considering.
Well honestly.....sell the bike. Also the garage makes it sound like a second job. Sometimes you just cant take a bike. End of the season is a weird time to buy a bike too. Not knocking you, I bought my Rebel in October. Only got it because of how few I saw bouncing around all last year. Hope it all settles out for you man. Cut back, recover, come back twice as strong.
Thanks brotha!! I appreciate your input 💪🏻💪🏻💪🏻
I’d get rid of the garage then go from there.
Where's the sissy bar from? Would it fit a rebel 500?
I would definitely sell the bike, especially if it's extraneous and doesn't get used much. It's pragmatic and it sucks but you gotta do what you gotta do to keep things from spiraling. Plus it sounds like the garage isn't doing too much for you other than adding stress.
Good points dude!! I appreciate you weighing in! Sounds like we’re on the same page 🙏🏻
Good
Damn.. taxes suck!! Have u thought about getting a new job? How long you been at that restaurant?
Like that sissy bar without the pad. Looks clean.
Thanks dude! I definitely dig it without the pad, and I have the pad under my seat so I can throw it on real quick if I ever pick up Nina last minute 🤘🏻
Man I would go down to the rebel, build the pocket money back up. Loose the grauge, you can aways get another motorcycle or grauge later down the road. But for now one bike and less money going out a mouth means less stress now.
Big facts man! Sounds like we’re on the same page. The more debt I have, the more stress I have. And I don’t want that showing through in my content 🤘🏻
That is true, life is so stressful on its own. I hope you figure it all out, love the channel and you are the reason I got the rebel 1100.
You got this!
Thanks!! 🙏🏻🙏🏻🙏🏻
Ditch the garage and keep the Honda's 👍 the weather looks mostly nice where you live.
I think the biggest positive of this is the “result of my own decisions” line. So many people now days love to be the victim and never take responsibility.
You’ve hit a rougher patch, but are willing to make the sacrifices and change what needs to be done. That’s being a man.
I’m 35, live in a much cheaper area, etc. but from the limited amount of info, I’d vote get rid of the bike and the garage. Get caught up, build up some good savings, and set you a good foundation.
You’re still young, you can always get that bike again. having 3 bikes, one with a payment, rent on a garage, etc and a lingering IRS prob just isn’t worth it.
I had a payment on a Fatboy when my wife got pregnant with our first kid. I loved riding, had been doing it for about 8 years at the time and had just got the Fatboy the summer before (had a CBR before that). I decided I didn’t need a payment on a “toy” when I needed to be building a foundation for a child.
It sucked but now, 8 years later, I have a paid off 2010 Wrangler, my wife has a paid off minivan she loves, and I bought a VStar 1300 this year in cash. The sacrifice was worth it.
Without the bike u can ditch the garage, clear the debt and take care of the IRS. Then a year from now you’re in a much better more solid place and can reevaluate at that time.
Good luck bro and most importantly ride safe.
Quick random question Michael what camera and mic set up do you use?
Hey man, I feel your pain. I owe a lot this year as well.
Did you do your own tax return? I ask because I work on tax returns and I feel your pain. I also love motorcycles. If you did your own return, I would be happy to look at it to see if there is anything else we can deduct to reduce your tax bill. Shoot me a DM if you are interested.
Definitely don't sell the car over the bike.
Yea I think you’re right 😅
@@LifeOfBurch Im in MD east side of the city and for how random the weather having a car is huge.