LLC Your Name Strategy 

Income tax is voluntary, if you know what’s really going on.

You can ask to get paid as a 1099 and use your EIN number, but pretending to be a w2 worker and inputting your EIN is deceptive.

Can you not just call it fraud, but explain why it’s fraud and what particular documented law that one would be breaking if they did this? I know people who have done this and no one has been locked up or fined.

A company will always have its own tax number as well as a individual will have his own tax number. Never can you mix them. Each have different tax structures and percentages.

Single member LLC file tax just like a person, use 1040 as well

An SSN has 9 numbers the last I checked and not 7.

Well from my understanding the ein is a taxable number but not for wages so when getting a job (w2) if you run this play you would go exempt for both federal and state taxes that’s the REAL play he left out 😊

Banks are not going to fall for that. 😂😂😂

He said I don’t know 💁🏽‍♀️🚩

When it sounds too good.

Such a scholar.

Thanks for the advice

The problem is that he's going to have to show a social security card to get the job and that number is not going to

Federal prison is in your future if you attempt this lol

It’s actually 9 numbers long for both

He said instead and I said DO WHAT. LMFAO

good one.

ik the answer to this, i know how this can work.

I was 2 sec in and it was automatically wrong. The reason for using business credit is for larger limits also you wont need to use your personal credit.

Pro Tip - Fraud lol

Alot of info was missing from this video short. He was right it's just that there are some other things you need to do along with that.

Just because someone doesn't get caught doesn't mean it's not illegal. Many people speed, but not everyone gets a ticket. As a business consultant, I will tell you that there is such a thing as "Generally Accepted Accounting Principles" or GAAP that addresses financial documentation for businesses & this process violates many procedures. If someone is acting as an individual, they're supposed to report income - that's common knowledge. There are many specific rules/laws that are violated, but it's too much for me to list here. However, that's exactly what I & my team (including accountants & attorneys), do. I've known many people who cheat & the irony is that the tax code, when used correctly, favors business owners. There's no reason to cheat at all.

I don’t understand what these fake strats are about. This is like the 7 “get an EIN and you’re good” thing I’ve heard. Within 3 months, 1 quarter, you will accrue enough penalties and be delinquent and be taken to court by like 3 different government agencies: DOL, taxation, IRS at least

New sub ❤

The moment you're watching something so informative, just to find out it's fraud 😞😊😊😮 that's wgy have to verify these info

A little knowledge is a dangerous thing.

Explain why not

How is this a fraud when you gave a badge of approval to a strategy taking loans with stocks or having a company to write off personal expenses as business losses.

I got rejected by the State of NE

But what he could do is he could use an EIN if he has a 1099 job

My social is 9 digits long

Do more videos like this where you don’t recommend the advise! Debunking these ridiculous gurus out here hurting the general public 👍🏼 Love you Edward verified stuff, just this is the first “unverified” one I’ve seen

I don’t know all the ins and outs of llcs but this does sound like a dumb idea.

thats not how you do it you need to then trademark the name ne llc and bye bye bills

He meant to say , I have a Con tip for you all lol😂 the sad part is some people might try it.

Someone explain how this is fraud. He literally said to create an llc and use your ein. Everything he said us perfectly legal.

You also pay taxes for business income sir.

Imagine going to prison because you purposely entered in a wrong number on a form 🤦🏽‍♂️

business income is taxed less than personal income is what the black dude in glasses was trying to say. but instead he explained how to commit fraud.

Fraud ! I meant look who’s giving the advice😂

I'm not taking a "pro tip" from anyone who doesn't know there are nine digits in a social security number. 😂🤣

Yes there is some fraud overtones here but having worked for a major card company in my misspent youth I can tell you that if they misunderstand who you are because of some number you jotted down that's an actual valid number associated with you it would be considered what they call true name fraud. Meaning that you didn't fraudulently claum to be someone you weren't, and they just got tricked into giving you credit when the otherwise perhaps would not. Those aren't generally pursued. Do with that as you will. Especially if the card is green. I saved them an awful lot of money and got nothing in return, and there's no love lost between me and them.

Funny how thatcis illegal. When rich ppl can do something close to this to pay less taxes

Damn dude got called out for fraud. About to put a lot of desperate black people behind bars

Tax Evasion.

😭😭😭😭

They just be saying shit on tic tok huh?

Here’s another tip! Just lie! Just put any random 9 digit number down OR find your grandmas and use hers! That way when they come to tax you, they see someone else and charge them. What a dummy. 😂

Lmfaoo this guy thinks he the department of social security or the consulate of the USA he is giving out working papers to any and all. This guy can't be any more wrong about your social security number.

LMAO do you think the tax man is that dumb?

This sounds like fraud to me 😂

Horrible idea

😂😂😂😂😂😂

He can't even count. LOL

Pro tip in general don't listen to black people for financial advice jm lol

LSS. Fraud is basically the only way a regular person can avoid taxes.

Isn’t it ironic what the fact checkers decide to ignore?

I Recommend this for Ppl who like Jail🥸