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Fresno Venture Capital Partner Podcast
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Unleashing the Power of Equity and Debt One of the distinctive features of "Fresno Venture Capital Partner" is the flexibility it offers in terms of funding options. Businesses can tailor their fundraising strategy by choosing to sell equity or debt in their companies. This adaptability ensures that entrepreneurs can align their funding structure with their unique business models and objectives. Raising Unlimited Capital Without Borders A standout aspect of "Fresno Venture Capital Partner" is its commitment to breaking down geographical barriers. The app enables businesses to raise unlimited capital without the constraints of a traditional bank loan. This is a game-changer for ventures looking to expand globally, offering financial freedom that transcends borders and unlocks a realm of possibilities. The Journey to accessing Capital Markets "Fresno Venture Capital Partner" is not just an app; it's a visionary step towards a future where financial borders no longer restrict ambition. By providing businesses with the means to access capital without traditional limitations, the app empowers entrepreneurs to scale their ventures on a global stage, fostering innovation and economic growth. A Paradigm Shift in Fundraising The app's innovative approach represents a paradigm shift in the way businesses raise capital. Traditionally, fundraising has been a complex and often exclusionary process, favoring those with high credit scores and well-established connections. "Fresno Venture Capital Partner" democratizes this process, making capital accessible to a wider range of entrepreneurs. Download "Fresno Venture Capital Partner" Today Ready to embark on a journey of unlimited possibilities? Check out "Fresno Venture Capital Partner" mobile app on Google Play: https://play.google.com/store/apps/details?id=app.fresnoventurecapitalfund.android
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43 episodes
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Content provided by MKG Enterprises Corp. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by MKG Enterprises Corp or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Unleashing the Power of Equity and Debt One of the distinctive features of "Fresno Venture Capital Partner" is the flexibility it offers in terms of funding options. Businesses can tailor their fundraising strategy by choosing to sell equity or debt in their companies. This adaptability ensures that entrepreneurs can align their funding structure with their unique business models and objectives. Raising Unlimited Capital Without Borders A standout aspect of "Fresno Venture Capital Partner" is its commitment to breaking down geographical barriers. The app enables businesses to raise unlimited capital without the constraints of a traditional bank loan. This is a game-changer for ventures looking to expand globally, offering financial freedom that transcends borders and unlocks a realm of possibilities. The Journey to accessing Capital Markets "Fresno Venture Capital Partner" is not just an app; it's a visionary step towards a future where financial borders no longer restrict ambition. By providing businesses with the means to access capital without traditional limitations, the app empowers entrepreneurs to scale their ventures on a global stage, fostering innovation and economic growth. A Paradigm Shift in Fundraising The app's innovative approach represents a paradigm shift in the way businesses raise capital. Traditionally, fundraising has been a complex and often exclusionary process, favoring those with high credit scores and well-established connections. "Fresno Venture Capital Partner" democratizes this process, making capital accessible to a wider range of entrepreneurs. Download "Fresno Venture Capital Partner" Today Ready to embark on a journey of unlimited possibilities? Check out "Fresno Venture Capital Partner" mobile app on Google Play: https://play.google.com/store/apps/details?id=app.fresnoventurecapitalfund.android
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Fresno Venture Capital Partner Podcast
1 FRESNO ENTREPRENEUR LAUNCHES ONE-STOP BANKING APP 3:53
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3:53Marshawn Govan, President and CFO of MKG Insurance Agency and MKG Tax Consultants, has unveiled a comprehensive banking app that rolls many services, from taxes to crypto, under one banner. Published On March 10, 2022 - 11:35 AM Written By Frank Lopez at The Fresno Business Journal https://thebusinessjournal.com/fresno-entrepreneur-launches-one-stop-banking-app/ The tax season is upon us, and while every taxpayer encounters some confusion when filing, the uphill tax battle is even steeper for businesses. A local tax and insurance consulting agency has launched an app to make the filing process for personal and business owners quicker and simpler. MKG Insurance Agency and Tax Consultants, with two locations in Fresno, released its banking-as-a-service tax app for both the IOS and Android platform in February. President and CFO Marshawn Govan said it was important to launch the mobile app during Black History Month to honor the contributions African-Americans have made throughout history — and to recognize the fight for racial justice going on to this day. The app allows users to open bank accounts from their mobile phone, send and receive ACH (Automated Clearing House) payments, pay bills and manage cash flow securely online with an FDIC-insured business bank account. The new app is a rebuild from an old version with an IBM license—meaning MKG didn’t own the source code for app. The new app was built specifically for MKG, meaning there is no limit for the license and no costs to renew it. Most tax companies with mobile apps use third-party developers, leasing the software as a service. “We are originators and developers of what we have in the market,” Govan said. “We can also branch out, white label it and offer that as a software service to other tax companies — to a bank looking to become a green product.” The app also helps consumers start the process of buying a home. Govan said the goal is to help underprivileged and underbanked families access credit to affordably finance auto loans, home improvements, home solar systems, down payments, investment and paying off debts. While it is unique that a local tax and insurance agency has its own specifically developed app, MKG also offers crypto tax service. Users will be able to buy, sell and exchange crypto currency. The company even launched its own crypto-token — Token MKG Enterprises Corp. According to Govan, no other tax firm is offering a crypto token. The app also features money-wiring services such as Cash app and Venmo. Users that are business owners will be able to open a business banking account, send and receive money and make check deposits — much like other banking apps on the market. Currently MKG is doing regulation crowdfunding, allowing retail investors that might not be accredited to invest smaller amounts. With smaller investment amounts, Govan said it gives them an opportunity to share in the company’s future growth without them having to invest a large part of their finances. https://wefunder.com/mkgenterprisescorps MKG is preparing to go public in 2022 to be listed on the OTC market. Govan said that investors have the opportunity to invest now before it grows. Govan said there are a lot of barriers for Black people and other underserved communities regarding financial equity, and the FinTech industry is not one where Black people normally dominate. This makes it difficult for many in communities of color to have access to capital for home loans or business loans. “We want to show businesses in the Valley a path,” Govan said. “ We could become a Silicon Valley in Fresno, but it takes the right companies, the right mindset and having the resources, and getting the information out there for people.” Skip the line, download our mobile app today and get started with your tax return from the Safety of your home. Largest possible tax refund or lowest tax liability “money-back written guarantee” Professionally prepared by MKG Tax Consultants licensed tax preparers Apple Store https://apps.apple.com/us/app/mkg-tax-consultants/id1600628580 Google Play https://play.google.com/store/apps/details?id=com.mkg.enterprises Website: https://mkgtaxconsultants.com…
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Fresno Venture Capital Partner Podcast
There are many valuable tax deductions for freelancers, contractors and other self-employed people who work for themselves. Here are 15 big self-employment tax deductions to remember. Schedule C Tax return filing for Sole Proprietor https://mkgtaxconsultants.com/shop/ 1. The home office deduction If you work from your home or use part of it in your business, then self-employment tax deductions like this one could get you a break on the cost of keeping the lights on. What you can deduct: A portion of your mortgage or rent; property taxes; the cost of utilities, repairs and maintenance; and similar expenses. Generally, this deduction is only available to the self-employed; employees typically cannot take the home office deduction. How it works: Calculate the percentage of your home's square footage that you use, in the IRS’s words, “exclusively and regularly” for business-related activities. That percentage of your mortgage or rent, for example, becomes deductible. So if your home office takes up 10% of your house's square footage, 10% of those housing expenses for the year may be deductible. IRS Publication 587 outlines a lot of scenarios, but note that only expenses directly related to the part of your home you use for business — say, fixing a busted window in your home office — are usually fully deductible. What else you can do: Choose the simplified option, which lets you deduct $5 per square foot of home used for business, up to 300 square feet — that’s about a 17-by-17-foot space. You won’t have to keep as many records, but you might end up with a lower deduction, so consider calculating it both ways before filing. 2. Health insurance (maybe) If you bought medical insurance policies on your own for yourself or your family, you might qualify for a self-employment tax deduction on the premiums. What you can deduct: Medical and dental insurance premiums for you, your spouse, your dependents and your children who are younger than 27 at the end of the tax year. Long-term care insurance premiums also count, though there are specific rules. IRS Publication 535 has the details. How it works: It’s an adjustment to income rather than an itemized deduction, which means you don’t necessarily have to itemize to claim it. But you might be let down, because if you’re eligible to enroll in your spouse’s employer’s plan — even if you choose not to, maybe because it’s more expensive than your own — you can’t take the deduction. What else you can do: Find out if you can deduct the premiums as a medical expense. This typically works only if you pay your premiums out of your own pocket, and your deduction is limited to expenses that exceed 7.5% of your adjusted gross income . So if your A G I is $100,000, your first $7,500 of medical expenses isn't deductible. 3. Continuing education You have to stay smart to run a growing business, and there are self-employment tax deductions for that. What you can deduct: The costs of “qualifying work-related education,” including things such as tuition, books, supplies, lab fees, transportation to and from classes and related expenses. How it works: The expenses are deductible only if the education “maintains or improves skills needed in your present work.” In other words, if you’re taking classes to change careers or you're working toward the minimum educational requirements for a trade or business, this probably won’t work for you. But you can qualify even if the education leads to a degree. Review IRS Publication 970 for the requirements. What else you can do: Look at the American opportunity tax credit or the lifetime learning credit. 4. Your car Driving to meet vendors, make pickups and woo clients can be hard on your car, but a few self-employment tax deductions might help you recoup some of that wear and tear. What you can deduct: A little more than $1 for every two miles you put on your car for business purposes. How it works: At the end of the year, tally the number of miles you drove in the car for business, multiply that by the IRS’s standard mileage rate — 56 cents per mile in 2021 and 58.5 cents per mile in 2022— and deduct the total. Be sure to keep a mileage log; you’ll need it if you’re audited. What else you can do: Deduct your “actual car expenses” instead. These include depreciation, licenses, gas, oil, tolls, parking fees, garage rent, insurance, lease payments, registration fees, repairs and tires. You may have to do this anyway if you’re using five or more cars in your business. If you’re leasing your car, check out IRS Publication 463 for rules about the number of lease payments you can deduct. 5. Retirement savings You might have more options than you think when it comes to retirement-related self-employment tax deductions. One popular choice is the solo 401(k) . What you can deduct: Contributions to a solo or one-participant 401(k) plan of up to $58,000 in 2021 and $61,000 in 2022 (add an extra $6,500 if you're 50 or older) or 100% of earned income, whichever is less. How it works: Similar to a standard, employer-sponsored 401(k). For traditional solo 401(k)s, your contributions are pretax, and distributions after age 59½ are taxed. You can contribute as both an employee (of yourself) and as the employer, with salary deferrals of up to $19,500 in 2021 and $20,500 in 2022, plus a $6,500 catch-up contribution if you’re 50 or older. And you can add approximately 25% of net self-employment income, not exceeding $58,000 in 2021 and $61,000 in 2022. What else you can do: IRAs are also an option . 6. Self-employment taxes as self-employment tax deductions Yes, you can deduct self-employment tax as a business expense. It's actually one of the most common self-employment tax deductions. The self-employment tax rate is 15.3% of net earnings. That rate is the sum of a 12.4% Social Security tax and a 2.9% Medicare tax on net earnings. Self-employment tax is not the same as income tax. What you can deduct: You can deduct half of your self-employment tax on your income taxes. How it works: So, for example, if your Schedule SE says you owe $2,000 in self-employment tax for the year, you’ll need to pay that money when it’s due during the year, but at tax time $1,000 would be deductible on your Form 1040 . 7. Business insurance premiums Protecting your business can also protect your tax bill. What you can deduct: Premiums for business insurance, employee accident and employee health insurance. How it works: There's a dedicated area of Schedule C for deducting your insurance premiums. But make sure you're deducting the right stuff. IRS Publication 535 has the details. What else you can do: As we explain in the section about health insurance, you might be able to deduct some or all of your health insurance premiums if you're self-employed. 8. Office supplies The everyday things you use to run your business could score you some self-employment tax deductions. What you can deduct: Pens, staples, paper, postage, and similar items that you use day-to-day to run your business. How it works: In most cases, you deduct the cost of office supplies that you actually used during the tax year. However, if you have office supplies on hand that you don't usually inventory or record the use of, those are typically deductible in the year you buy them, too. What else you can do: For "bigger" stuff like computers or special equipment, the general rule is that you can deduct them in the year you buy them if their useful lives are a year or less. If their useful lives are longer than a year, the IRS may view those things as assets that depreciate over time. Even though this means not being able to deduct the full cost of the item all at once, you likely can deduct the depreciation on the item over its useful life. 9. Credit card and loan interest Check your credit card statements for potential self-employment tax deductions. What you can deduct: Interest accrued on purchases that were business expenses. How it works: You can’t deduct credit card interest accrued from business expenses if the purchase was made on someone else’s credit card, for instance. What else you can do: You don’t necessarily need to have a business credit card to deduct qualifying interest charges. If you use a personal card exclusively for business expenses, for example, you can generally still deduct the interest charges. 10. Phone and internet costs Anyone from real estate agents and journalists to day care providers and jewelry makers could deduct part or all of their annual cell phone or internet bill. What you can deduct: You can deduct your entire bill if you have a dedicated business cell phone or internet connection. How it works: You must use your smartphone or internet service for business, and your employer — if you have one — must not reimburse you. What else you can do: If you don't have a dedicated line, you can deduct the percentage used for business. 11. Business travel and meals Whether it's for a flight across the country or an overnight on the other side of the state, expenses for travel and food can be self-employment tax deductions. What you can deduct: Flights, hotels, taxis and food are deductible business expenses as long as they're for actual, legitimate business purposes. How it works: You can't deduct travel expenses for your spouse, your kids, or other people unless that person is your employee. Before 2021, you could deduct 50% of the cost of a meal if the meal was business-related, was not "lavish or extravagant," you or your employee were at the meal, one of your business contacts got the meal, and the cost of the meal didn't include a charge for entertainment. IRS Publication 463 has all the details. In 2021 and 2022, however, you can deduct 100% of the cost of food or beverages provided by a restaurant. What else you can do: Instead of deducting the actual cost of each meal, which can require a lot of receipt hoarding, you can use a standard daily meal allowance. Under this method, you deduct a flat amount instead of recording every single meal expense (consider keeping your receipts anyway so that you can prove your deduction if you're audited). The U.S. General Service Administration sets the standard meal allowance rate. 12. Start-up costs You may be able to get self-employment tax deductions for the cost of going into business. What you can deduct: Start-up costs generally include the costs to get your business up and running before it opens, such as grand opening advertising, salaries and wages for employees in training, travel to obtain suppliers or customers, or consulting fees. How it works: You may be able to deduct up to $5,000 of business start-up costs and $5,000 of organizational costs (the costs to set up a legal entity for your business, such as an LLC). However, not everyone gets this deduction. The $5,000 deduction is reduced by the amount your total start-up or organizational costs exceed $50,000. What else you can do: Business start-up and organizational costs are generally capital expenditures, which means they're treated like assets rather than expenses. In turn, you may be able to depreciate your start-up costs over time, and that depreciation is typically a deductible business expense. The rules are complicated; IRS Publication 535 has the details. 13. Advertising Getting your name out there can score you some self-employment tax deductions. What you can deduct: Advertising expenses directly related to your business. You can usually deduct advertising "to keep your name before the public if it relates to business you reasonably expect to gain in the future," which gives the green light to advertising encouraging people to take part in a particular cause, such as donating blood. The type of advertising matters. Generally, you can’t deduct lobbying expenses. Also, you can’t deduct advertising in a convention program of a political party, or in any other publication if any of the proceeds from the publication are for, or intended for, the use of a political party or candidate. How it works: There's a line on Schedule C dedicated to reporting your advertising expenses. What else you can do: Check out the Qualified Business Income deduction . 14. Certain memberships If you belong to a professional organization, you may be able to deduct the membership fee. What you can deduct: Generally, you can’t club memberships in clubs (especially country clubs and travel-related clubs). However, the IRS carves out exceptions for memberships to boards of trade, business leagues, chambers of commerce, civic or public service organizations, professional organizations such as bar associations and medical associations, real estate boards and trade associations. How it works: For the IRS, a big indication that a membership isn't deductible is whether one of the organization's main purposes is to provide you or your guests with entertainment or access to entertainment facilities. What else you can do: Charitable donations may be deductible on your personal income tax return. 15. The qualified business income deduction One of the newest self-employment tax deductions out there, the qualified business income deduction (Q B I) allows eligible self-employed and small-business owners to deduct a portion of their business income on their taxes. What you can deduct: If your total taxable income — that is, not just your business income but other income as well — is at or below $164,900 for single filers or $329,800 for joint filers, then in 2021 you may qualify for the 20% deduction on your taxable business income. In 2022, those limits are $170,050 for single filers and $340,100 for joint filers. How it works: The qualified business income deduction is for people who have “pass-through income” — that’s business income that you report on your personal tax return. Entities eligible for the qualified business income deduction include sole proprietorships, partnerships, S corporations and limited liability companies (LLCs). What else you can do: If your income is above the limit, you might still be able to claim the pass-through deduction depending on the precise nature of your business (the deduction phases out for some businesses).…
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Fresno Venture Capital Partner Podcast
1 FRESNO ENTREPRENEUR LAUNCHES ONE-STOP BANKING APP 3:53
3:53
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3:53Marshawn Govan, President and CFO of MKG Insurance Agency and MKG Tax Consultants, has unveiled a comprehensive banking app that rolls many services, from taxes to crypto, under one banner. Published On March 10, 2022 - 11:35 AM Written By Frank Lopez at The Fresno Business Journal https://thebusinessjournal.com/fresno-entrepreneur-launches-one-stop-banking-app/ The tax season is upon us, and while every taxpayer encounters some confusion when filing, the uphill tax battle is even steeper for businesses. A local tax and insurance consulting agency has launched an app to make the filing process for personal and business owners quicker and simpler. MKG Insurance Agency and Tax Consultants, with two locations in Fresno, released its banking-as-a-service tax app for both the IOS and Android platform in February. President and CFO Marshawn Govan said it was important to launch the mobile app during Black History Month to honor the contributions African-Americans have made throughout history — and to recognize the fight for racial justice going on to this day. The app allows users to open bank accounts from their mobile phone, send and receive ACH (Automated Clearing House) payments, pay bills and manage cash flow securely online with an FDIC-insured business bank account. The new app is a rebuild from an old version with an IBM license—meaning MKG didn’t own the source code for app. The new app was built specifically for MKG, meaning there is no limit for the license and no costs to renew it. Most tax companies with mobile apps use third-party developers, leasing the software as a service. “We are originators and developers of what we have in the market,” Govan said. “We can also branch out, white label it and offer that as a software service to other tax companies — to a bank looking to become a green product.” The app also helps consumers start the process of buying a home. Govan said the goal is to help underprivileged and underbanked families access credit to affordably finance auto loans, home improvements, home solar systems, down payments, investment and paying off debts. While it is unique that a local tax and insurance agency has its own specifically developed app, MKG also offers crypto tax service. Users will be able to buy, sell and exchange crypto currency. The company even launched its own crypto-token — Token MKG Enterprises Corp. According to Govan, no other tax firm is offering a crypto token. The app also features money-wiring services such as Cash app and Venmo. Users that are business owners will be able to open a business banking account, send and receive money and make check deposits — much like other banking apps on the market. Currently MKG is doing regulation crowdfunding, allowing retail investors that might not be accredited to invest smaller amounts. With smaller investment amounts, Govan said it gives them an opportunity to share in the company’s future growth without them having to invest a large part of their finances. https://wefunder.com/mkgenterprisescorps MKG is preparing to go public in 2022 to be listed on the OTC market. Govan said that investors have the opportunity to invest now before it grows. Govan said there are a lot of barriers for Black people and other underserved communities regarding financial equity, and the FinTech industry is not one where Black people normally dominate. This makes it difficult for many in communities of color to have access to capital for home loans or business loans. “We want to show businesses in the Valley a path,” Govan said. “ We could become a Silicon Valley in Fresno, but it takes the right companies, the right mindset and having the resources, and getting the information out there for people.” Skip the line, download our mobile app today and get started with your tax return from the Safety of your home. Largest possible tax refund or lowest tax liability “money-back written guarantee” Professionally prepared by MKG Tax Consultants licensed tax preparers Apple Store https://apps.apple.com/us/app/mkg-tax-consultants/id1600628580 Google Play https://play.google.com/store/apps/details?id=com.mkg.enterprises Website: https://mkgtaxconsultants.com…
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Fresno Venture Capital Partner Podcast
1 Should you rent or buy a home? Prices are surging in both cases, which makes it complicated 10:22
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10:22Should you rent or buy a home? Prices are surging in both cases, which makes it complicated Fresno Calif. has had a 23.1% rent increase over the last 12 months which is well above the state of California (11.6%) and U.S. (15.1%) rent increases. The average one-bedroom apartment now costs $1,150. Buying vs Renting There are limits to how much a landlord in California can increase rent. Every rental property that is not exempt from AB 1482 can only have an annual rent increase of 5% plus the annual Consumer Price Index (CPI) percentage change. “People who were renting in anticipation of buying a home are still renting because the housing prices have gone up so much; the house they wanted to buy a year ago is 20% more than it was KEY POINTS Home prices are rising faster than rents, which is shrinking the affordability gap between being a homeowner and a tenant. Single-family homes are less affordable than they have been in just over three quarters of the U.S. — the highest total in 13 years, according to a real estate data tracker. All real estate is local, however. Homeownership is more affordable than renting in suburban and rural areas, but it’s cheaper to rent in big cities. Work with a good mortgage loan officer that put your best interest at heart Get Pre-approved before home shopping Find a good relator that knows the local market File two years of tax returns Home prices are rising faster than rents, which is shrinking the affordability gap between being a homeowner and a tenant. Median-priced, single-family homes are less affordable in just over three quarters of the nation — the highest total in 13 years, according to ATTOM, a real estate data tracker. That’s up from 39% at the end of 2020. Rents are also up, especially for single-family homes, which have been in high demand during the pandemic. Single-family rents increased 10.9% in October 2021 compared to the year-earlier period, a sixth consecutive record high, according to CoreLogic. The fall is typically a slow season for housing. So which is more affordable, owning or renting? As a tax expert we recommend to use your tax refund as a down payment on a home Four C's of Qualify for a Mortgage Whether you are a first-time home buyer or are re-entering the housing market, qualifying for a mortgage can be intimidating. By learning what lenders look at when deciding whether to make a loan, you'll be more confident in navigating the mortgage application process. Credit "620 higher FICO score" Collateral Compacity Cash-to-close Standards may differ from lender to lender, but there are four core components — the four C's — that lender will evaluate in determining whether they will make a loan: capacity, capital, collateral and credit. Capacity to Pay Back the Loan Lenders look at your income, employment history, savings and monthly debt payments, and other financial obligations to make sure you have the means to comfortably take on a mortgage. One of the ways that lenders verify your income is by reviewing several years of your federal income tax returns and W2s, along with current pay stubs. They evaluate your income based on: The source and type of income (e.g., salaried, commission or self-employed ) How long you've been receiving the income and whether it's been stable How long that income is expected to continue into the future Lenders will also look at your recurring monthly debts or liabilities, such as: Car payments Student loans Credit card payments Personal loans Child support Alimony Other debts that you 're obligated to pay Capital Lenders consider your readily available money and savings plus investments, properties and other assets that you could access fairly quickly for cash. Having money saved or in investments that you can easily convert to cash, known as cash reserves , proves that you can manage your finances and have funds, in addition to your income, to pay the mortgage. Cash reserves might include: Savings Money market funds Other investments that can be converted to cash, such as Individual Retirement Accounts (IRAs), Certificates of Deposit (CDs), stocks, bonds or 401(k) accounts Along with cash reserves, other acceptable sources of capital might include: Gifts from family members Down payment or closing cost assistance programs Grants or matching funds programs Sweat equity When you apply for a mortgage, the lender may need to verify the source of any large deposits in your bank account to ensure they're coming from an allowable source . That is, that you obtained the money legally and that it was not loaned to you. Lenders may also look at the last two months of statements for your checking and savings accounts, money market accounts, or investment accounts to evaluate how much capital you have. Collateral Lenders consider the value of the property and other possessions that you're pledging as security against the loan. In the case of a mortgage, the collateral is the home you 're buying. If you don't pay your mortgage, the mortgage company could take possession of your home, known as foreclosure . To determine the fair market value of the home you'd like to buy, during the homebuying process your lender will order an appraisal of the property that compares it to similar homes in the neighborhood. Credit Lenders check your credit score and history to assess your record of paying bills and other debts on time. Many mortgages also have minimum credit score requirements. In addition, your credit score could dictate the interest rate that you get and how much of a down payment will be required. Even if you are a renter, or don't have plans to buy right now, it's a good idea to get smart about credit and know ways you can build and maintain strong credit health. Credit Strong Credit & Savings https://mkgtaxconsultants.com/credit-strong-credit-savings/ Transform Your Life With Strong Credit and Savings Credit Strong helps you build credit as you grow savings. Choose the plan that works for you Build credit by saving each month, cancel at any time Make payments & track your progress We provide your monthly FICO® Score, for free Unlock your savings Once your loan is repaid, your savings are returned APPLY TODAY…
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Fresno Venture Capital Partner Podcast
1 Timeline of African Americans/Blacks in business in America 2:01
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2:01Timeline of African Americans/Blacks in business in America The 19th century was not the beginning of Black business in America, but this century would see these pursuits being organized along the lines of and under the newly reconstructed U.S. Government structure. The 1800s saw the creation of many businesses, including insurance companies, banks, and newspapers. The first Black insurance company, The African Insurance Company, was founded in Philadelphia, PA in 1810. The first Black newspaper, Freedom’s Journal, was founded in New York, NY in 1827. However, by the end of the century, many gains made after the enslavement ended were lost due to Jim Crow, Black Codes, segregation, and theft. The 20th century began with the formation of the National Negro Business League (currently the National Business League). The year 1900 would usher in the “Golden Age of Black business”, named so by historian, Juliet E. K. Walker. This would last from approximately 1900 to 1930, most likely ending due to The Great Depression, 1929-1939, and race riots and massacres, including one of the best-known, the 1921 Tulsa Race Riot, which spanned from May 31 through June 1 that year and was the first time in history the United States bombed its own people. In the first decade of the 21st century, Black businesses experienced the largest growth, adding 0.8 million businesses. The creation of the 2010 Dodd-Frank Wall Street Reform Protection Act to assist Black-owned businesses procure more federal contracts. This Act also established the Office of Minority and Women Inclusion (OMWI) which among other duties, develops standards for equal employment opportunity and the racial, ethnic, and gender diversity of the workforce. The years 2020-2021 saw racial unrest coupled with a pandemic, spurring a rebuilding of Black/African American business and economic bases. Honoring Black History Month https://mkgtaxconsultants.com/honoring-black-history-month/…
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Fresno Venture Capital Partner Podcast
1 $50 CASHBACK REWARD for downloading our Banking-As-A-Service Tax-Filing App 2:31
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2:31(SECURD) Setting Every Community up for Refund Deposit $50 CASHBACK REWARD for downloading our Banking-As-A-Service Tax-Filing App OFFER IS VALID ONE PER CUSTOMER, tax returns must be electronically filed with MKG Tax Consultants and be eligible for an ERD electronic refund deposit. SECURD Advance loans are available in 15 States APR depends on your resident state. California 35.99% APR Arkansas Colorado 12% APR Connecticut 12% APR District of Columbia 6% APR Florida 18% APR Massachusetts 12% APR New Jersey 16% APR Oklahoma 10% APR Oregon 12% APR South Carolina 12% APR Texas 10% APR Virginia 12% APR Wisconsin 18% APR Wyoming 10% APR SECURD Advance loans is an optional fixed-term loan offered by Cash Advance Short Term Repayment Option Lender. The SECURD Advance loans principal loan amount, applicable interest and any fees will be deducted from federal and state tax refund proceeds. SECURD Advance is not an actual federal or state tax refund. Applying for a SECURD Advance does not guarantee approval. Qualifications and restrictions apply and all applicants may not be eligible for SECURD Advance. SECURD Advance loans is an optional fixed-term loan offered by Cash Advance Short Term Repayment Option Lender. The SECURD Advance loans principal loan amount, applicable interest and any fees will be deducted from federal and state tax refund proceeds. SECURD Advance is not an actual federal or state tax refund. Applying for a SECURD Advance does not guarantee approval. Qualifications and restrictions apply and all applicants may not be eligible for SECURD Advance. SECURD Advance loans principal amounts offered are $500, 25%, 50% or 75% of the expected net tax refund amount, up to $10,000 SECURD Advance loans have an APR of 35.99% based on a 30-day term. All SECURD Advance loans have an origination fee. Refund Transfer fees may also apply. Download our mobile app today. https://mkgtaxconsultants.com MKG Tax Consultants 4021 N Fresno Street Suite 107 Fresno, CA 93726 Call us today 1-866-675-3933…
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Fresno Venture Capital Partner Podcast
The American Rescue Plan Act made changes to the Child Tax Credit for 2021 that will significantly affect many taxpayers when they file their 2021 tax returns. As a result of this legislation, many taxpayers with minor children can anticipate receiving monthly payments representing 1/12 of the anticipated credit on the 2021 tax return starting in July 2021. Any advance credit received by the taxpayer will ultimately be reconciled on their 2021 tax return. Set forth below are answers to some of the common questions that tax professionals and taxpayers have about the 2021 Child Tax Credit. What is the age requirement for the Child Tax Credit? The maximum age requirement has been raised for 2021 to be a child under age 18. This will, for the first time, make a 17-year-old an eligible dependent for the Child Tax Credit, including any advance payments of the credit. What are the dollar amounts of the Child Tax Credit in 2021? The credit has been increased to $3,600 for children under age 6 and $3,000 for children aged 6 to 17. What are the eligibility requirements for claiming the 2021 Child Tax Credit? The child must be a U.S. citizen or resident with a valid social security number. Child Tax Credit Taxpayer Assistance https://mkgtaxconsultants.com/child-tax-credit-taxpayer-assistance/ Additional Information: IRS: 2021 Child Tax Credit and Advance Child Tax Credit Payments - Topic A General Information IRS: 2021 Child Tax Credit and Advance Child Tax Credit Payments - Topic B - Eligibility Calculation of the 2021 Child Tax Credit IRS: 2021 Child Tax Credit and Advance Child Tax Credit Payments - Topic D - Calculation of Advance Child Tax Credit Payments…
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Fresno Venture Capital Partner Podcast
1 Child care tax credit doubles this season for 2022 Tax Year: How to claim up to $16,000 7:07
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7:07The child and dependent care credit allows taxpayers to directly reduce their taxes by the amount spent on expenses related to child or dependent care, such as day care, babysitters or related transportation. Thanks to a one-time expansion in the American Rescue Plan Act , parents who paid for child care in 2021 are eligible to receive up to 50% of their expenses back as a tax break or refund. The expanded child care tax credit maxes out at $8,000 for one dependent and $16,000 for two or more. The catch? You'll need all your receipts and other monetary proof to make sure you can claim the tax break when you file your income tax return. The child and dependent care credit is a tax break designed to let parents claim expenses from child care. For example, if you paid for a day care provider while you were working, that expense can be claimed as a credit when you file your taxes this year. How is the child care credit different for 2021 taxes? In previous years, the maximum amount you could claim was $3,000 for one child or $6,000 for two or more. For 2021 expenses, you can claim up to $8,000 for one child or dependent and up to $16,000 for multiple children. The one-time expansion of the child care credit for 2021 also increases the maximum return rate for child care expenses from 35% to 50%. What does that mean? In brief, for the 2021 tax year, you could get up to $4,000 back for one child and $8,000 back for care of two or more. Before the American Rescue Plan, the child and dependent care credit was nonrefundable, meaning it could reduce your tax bill to zero but you would not receive a refund on anything extra. Now, the credit is fully refundable , meaning that you will receive money for it even if you don't owe taxes. Learn more about 2022 Tax Changes https://mkgtaxconsultants.com/2022-tax-changes/…
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Fresno Venture Capital Partner Podcast
1 5 Reason Black people don't have money and wealth 24:10
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24:105 Reason Black people don't have money and wealth 1. Black culture 2. Generational poverty 3. Appearance of being white- success attributes 4. Black men care more about sex then success 5. Black women will choose a man that has sexiness, game and swag over a solid well paid lame. 5.1 Black culture don't celebrate the attributes of success Attitudes and habits Black people don't like to take opportunity. if its not sexy, hot, swag, flashy, black people must be entertained to be educated. Waiting on someone else to create the change sitting on their hands. Conclusions: Black people must adopt progressive habits and tactics to building wealth. Restoring the American Credit System by Democratizing It https://vimeo.com/664062370…
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Fresno Venture Capital Partner Podcast
The Internal Revenue Service (IRS) has announced that taxpayers can begin filing their 2021 tax returns on Monday, January 24, 2022 The Jan. 24 tax-filing start date for 2022 is 19 days earlier than 2021's start date of Feb. 12. At the same time, the IRS warns that the upcoming filing season could be frustrating for taxpayers and tax preparers alike due to pandemic-related delays, a backlog of unprocessed returns from 2021, and years of budget cuts that have made the agency's job more difficult. KEY TAKEAWAYS Taxpayers can begin filing 2021 tax returns Monday, Jan. 24, 2022, 21 days earlier than last year. The IRS has warned there could be delays in issuing refunds in 2022 due to issues related to the pandemic, budget cuts, and unprocessed returns from 2021. The tax agency cautions taxpayers to file as early as possible after Jan. 24 and to make sure they have their paperwork in order. The IRS suggests taxpayers look for help online and use phone lines only if necessary. The agency says if you file electronically, choose direct deposit, and, assuming there are no issues with your return, you should get your refund within 21 days. To avoid processing delays and speed refunds, the IRS urges people to follow these steps. Gather your 2021 tax records including Social Security number, Individual Taxpayer Identification Number, Adoption Taxpayer Identification Number , and this year's Identity Protection Personal Identification Number for calendar year 2022. Check IRS.gov for the latest tax information, including the latest on how to reconcile advance payments of the Child Tax Credit or claim a Recovery Rebate Credit for missing stimulus payments. Make sure you report correct amounts for any Economic Impact Payments or advance Child Tax Credits received in 2021. If you need help, use online resources such as MKG Tax Consultants registered return tax preparer Tax Filing Mobile App instead of calling. Calling the IRS should be a last resort. Even if you are not normally required to file a tax return, you need to do so in order to claim a Recovery Rebate Credit, to receive a tax credit from 2021 stimulus payments, or to reconcile advance Child Tax Credit payments. File electronically and request direct deposit. If you request an extension to file by April 18 (or 19), you have until Monday, October 17, 2022, to submit your 2021 tax return. You must pay your estimated taxes, however, by the regular tax filing deadline of April 18 (or 19) Things That May Delay Your Refund Even though you can file your tax return as soon as Jan. 24, 2022, by law the IRS cannot issue a refund involving the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) before mid-February. The purpose of the law is to prevent fraudulent refunds from being issued. Download MKG Tax Consultants covid free Tax Filing Loan Originator Mobile App and Get Your Max Tax Refund https://mkgtaxconsultants.com…
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Fresno Venture Capital Partner Podcast
1 Watch for advance Child Tax Credit letter 6419-2021 3:16
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3:16To help taxpayers reconcile and receive all of the Child Tax Credits to which they are entitled, the IRS will send Letter 6419, 2021 advance CTC, starting late December 2021 and continuing into January. The letter will include the total amount of advance Child Tax Credit payments taxpayers received in 2021 and the number of qualifying children used to calculate the advance payments. People should keep this and any other IRS letters about advance Child Tax Credit payments with their tax records. Families who received advance payments will need to file a 2021 tax return and compare the advance Child Tax Credit payments they received in 2021 with the amount of the Child Tax Credit they can properly claim on their 2021 tax return. The letter contains important information that can make preparing their tax returns easier. People who received the advance CTC payments can also check the amount of their payments by using the CTC Update Portal available on IRS.gov. Eligible families who did not receive any advance Child Tax Credit payments can claim the full amount of the Child Tax Credit on their 2021 federal tax return, filed in 2022. This includes families who don’t normally need to file a tax return. MKG Tax Consultants https://mkgtaxconsultants.com/child-tax-credit-letter-6419-2021/…
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Fresno Venture Capital Partner Podcast
1 Venmo, Cash App And Other Payment Apps To Report Payments Of $600 Or More 10:52
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10:52If you receive $600 or more payments in total for goods and services through a third-party payment network, such as Venmo, Cash App, or Zelle, these payments will now be reported to the IRS. The new rule results from the American Rescue Plan signed into law in March 2021 and will mainly impact business owners using third-party payment network providers. The IRS is cracking down on payments received through apps, such as Cash App, Zelle or Paypal to ensure those using the third-party payment networks are paying their fair share of taxes. Previously, the IRS only required third-party payment networks to report payments that met both of the following reporting requirements: Gross payments that exceed $20,000, AND More than 200 transactions within the current year. Beginning Jan. 1, 2022, third-party payment networks will be required to send users Form 1099-K for transactions made by mail or electronically. This means you don’t have to worry just yet: The new tax reporting requirement will impact your 2022 tax return filed in 2023. MKG Tax Consultants https://mkgtaxconsultants.com/venmo-cash-app-and-other-payment-apps-to-report-payments-of-600-or-more/…
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Fresno Venture Capital Partner Podcast
1 M&T Credit Services Process for buying a house 13:17
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13:17Whether you’re buying or selling a home, the experience can be both rewarding and stressful. FHA Loan Requirements Credit score of at least 500. Debt-to-income ratio of 50% or less. 3.5% down payment if your credit score is 580 or higher. 10% down payment if your credit score is 500-579. The house must be your primary residence and must meet the FHA’s minimum property requirements. The beauty of family Generational wealth transfer is referred to those assets transferred down from one generation to another. When one leave behind a significant number of inheritance for his/her descendants, that will constitute generational wealth. These assets in question include the following: real estate, stock market, investments, a business, or anything else that has monetary value. Research has clearly shown that people who inherited generational wealth often have a significant financial advantage over those who do not have any inherited wealth. They will likely have the capacity to avoid student loans as well as other kinds of debt. The transfer of these generational wealth or assets to beneficiaries upon the death of the owner is done via financial planning methods. And these methods often include the following wills, estate planning, life insurance, or trusts in a tax efficient way. M&T is an innovative team of professional and credit certified individuals who work thoroughly and diligently to improve our clients’ credit scores and financial future. Bad credit can be affecting you more than you know. M&T Credit Services, LLC has helped our satisfied clients repair their credit and qualify for home loan. With our highly professional and methodological approach, we cut through the numbers to help get you back on the road to good credit. Call (559) 492-8563 M&T Credit Services | Facebook Website: https://www.mtcreditservices.com…
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Fresno Venture Capital Partner Podcast
M&T is an innovative team of professional and credit certified individuals who work thoroughly and diligently to improve our clients’ credit scores and financial future. Bad credit can be affecting you more than you know. M&T Credit Services, LLC has helped our satisfied clients repair their credit and qualify for home loan. With our highly professional and methodological approach, we cut through the numbers to help get you back on the road to good credit. We adhere strictly to the Credit Repair Organizations Act, which means you can relax knowing you are in reputable hands. Contact us today to find out how we can help you take that important first step in getting back into good financial standing. Call (559) 492-8563 M&T Credit Services | Facebook Website: https://www.mtcreditservices.com…
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Fresno Venture Capital Partner Podcast
1 Wealth Matters: The Black-White Wealth Gap Before and During the Pandemic 49:53
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49:53The lack of wealth in many African-American households has left them especially vulnerable to the financial fallout from the coronavirus crisis; but the federal government has perhaps its best opportunity yet to fix these racial disparities. Huge wealth disparities between Black and white households in America existed long before the COVID-19 pandemic and have continued during the crisis. Data show that during the pandemic, Black households faced more financial emergencies with fewer economic resources, resulting in a widening gap in economic opportunity between Black and white households. Black households had fewer emergency savings to fall back on during pandemic The pandemic occurred against the backdrop of a massive Black-white wealth gap. Because households quickly needed to rely on their wealth when the pandemic hit in early 2020, the crisis also illustrated the importance of wealth for families’ financial security. Black households suffered more in the pandemic in large part because they needed more but had much less wealth than white households. Wealth, both as an emergency buffer and as a means to invest in people’s futures, became critically important. Millions of households, especially African American and Latino households, faced unemployment and multiple health emergencies more or less from one day to the next. Yet many of these same households had few or no emergency savings to fall back on during this time. When people lost their jobs, many needed to rely on emergency savings, leaving them with less financial security as the pandemic unfolded. For example, in 2020, 46.7 percent of unemployed white households could not come up with $400 in an emergency, while 65.2 percent of unemployed Black households lacked access to $400 in such situations. Learn more about Fresno Black investment Group https://mkgfinancialgroup.com/capital-formation/ Fresno Black Investment Banking https://mkgfinancialgroup.com/fresno-black-investment-banking/…
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