Topics: Investing, Business, Entrepreneurship
**Ms. Business** (0:00)
Tax code is made up of 77,000 pages. 1% is telling us how to pay taxes. The other 99% is saying, hey, if you follow this, you don't have to pay taxes.
**Rashad Bilal** (0:09)
What's the biggest mistake that business owners are making when it comes to taxes?
**Ms. Business** (0:12)
Waiting until the next year to file their taxes. Your first step needs to be, okay, how can I get on the right side of the tax code so therefore I can save on taxes?
**Troy Millings** (0:20)
You talk to a lot of entrepreneurs. What's the biggest misconception or lie that they think is true when it comes to taxes?
**Ms. Business** (0:27)
That the tax code was put in place to make them pay taxes. The tax code is the wealth map. Everything that you need to generate wealth is a tax deduction.
**Rashad Bilal** (0:35)
What's some advice for real estate owners?
**Ms. Business** (0:37)
If you want to live tax free, you have to have real estate because when it comes to the tax code, the government's like, listen, we can't house everyone. You do us this solid, we'll allow you to keep your money. Warren Buffett said, thanks to the many loopholes put in place by the IRS, I pay a lower tax rate than my secretary. If you have an LLC and you're trading in that LLC, that doesn't automatically make it business income. You have to be doing it full time.
**Troy Millings** (1:02)
So is there qualifications that make you full time?
**Ms. Business** (1:04)
It's a thousand hours. That's probably like three hours a day. The tax code does not incentivize you for working more. They incentivize you for generating income as passively as possible.
**Rashad Bilal** (1:14)
All right, ladies and gentlemen, welcome back. We have a friend of the show, friend of the program.
**Troy Millings** (1:20)
She has been on the show more than anybody.
**Rashad Bilal** (1:22)
For sure.
**Ms. Business** (1:23)
I have? Yes. I didn't know that.
**Troy Millings** (1:25)
Yes, you've been on multiple platforms.
**Ms. Business** (1:28)
I have.
**Troy Millings** (1:30)
You were our first guest and our most returning guest.
**Ms. Business** (1:34)
I love that.
**Rashad Bilal** (1:35)
Yeah. Ms. Business, somebody that's a vendor marketplace sponsor.
When you think of the vendor marketplace, she had the best booth for so many years that she actually just took over the vendor.
**Troy Millings** (1:48)
Took over the whole thing.
**Rashad Bilal** (1:49)
And Investfest.
**Troy Millings** (1:50)
And rightfully so.
**Ms. Business** (1:52)
It was only right.
**Troy Millings** (1:53)
You changed the look of what the vendor marketplace was. So rightfully so.
**Rashad Bilal** (1:56)
Yeah, you spoke at Investfest every year. So yeah, yeah, you know, I don't think we have to introduce you. Everybody already knows who you are. If they watch Earn Your Leisure, they obviously know Ms. Business. So how you been?
**Ms. Business** (2:07)
I've been great. Under a lot of pressure, I got to make sure that Investfest is, you know, is great. Got to make sure that the people are feeling me. That's my main objective when I'm there.
**Rashad Bilal** (2:19)
Investfest, it's nothing like it. It's nothing like it.
**Troy Millings** (2:23)
I think what's beautiful is that 2019, we first meet.
**Ms. Business** (2:27)
Yes.
**Troy Millings** (2:27)
A lot of change since then. Our business has grown.
**Ms. Business** (2:30)
A lot has changed.
**Troy Millings** (2:31)
I mean, your business has grown.
I feel like you're everywhere. I feel like I need to be on some of these retreats that are happening. Talk to us about the growth over the past year or so.
**Ms. Business** (2:42)
Over the past year?
Oh, my God. Okay. So I really just transition. My marketing has always been at the forefront of everything that I've done, but I feel that it was more important for me to really get to the people and really get them to understand that business can really be their pathway to wealth. I think that a lot of times, our mindset is business is our pathway to paying our bills or leaving our job, but I'm not really thinking about like, wow, if I stop overpaying in taxes, if I take this money and I invest it, that's my pathway. And so just doing that, I've just been trying to figure out different ways to touch people. So like, you know, Invest Fest, Miss Business for the People, just really making sure that I'm touching people and then creating more moments where I can be in person. So I'm doing retreats, you know, I'm on a webinar consistently, right? I just feel like I have to touch people. I can't just, it just, it can be a distance between me and the people.
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