Please message me if you have knowledge in this area.
Originally Posted by Kamjess
Sweetheart,
You have to have show an income, expenses, and savings with a budget before you can get a loan from a bank.
If you do not have tax returns with all of this shown - and more: you will not get a loan from a bank, and probably not even a credit card.
Prostitution is classified as a "black market" subculture activity because is it is not a legitimate business. If that is what you want to do, you have to set it up as a legitimate business that shows income, business expenses, profit and payroll.
It you want to participate in the normal lives of the rest of society, you
must pay taxes. Within GNP (Gross National Product) there are calculations estimates the amount of black market activity for every country.
You have to show the total money receipts, and expenses, to arrive at income. If this is not shown on a tax return: forget about ever getting a loan form a legitimate source. This is basic accounting. If you don't file taxes, you don't have a legal income.
At the end of the year, many businesses show very little profit for the company. Why would they want to? Businesses collect taxes from the employees, and pass the taxes to the Government. Most of the employees get paid an income, and pay taxes. The business does not need an income, they need receipts and expenses that includes payroll taxes. A businesses does not need to have a profit in order for the employees to have income and pay taxes.
I own several businesses; all of them seldom receive any cash. If we happen to get some cash, it is a celebration. Hey., we have an opportunity to document some cash against an invoice. All cash goes to the bank immediately,
always. All cash must be totally documented.
All business expenses are documented, and justified. That includes cars, gas, insurance, business travel, inventory, payroll and taxes. Everything is documented.
Those who receive a payroll check have taxes withheld and submitted to the government by 8 AM, before they get their checks in the PM.
Understand that the Feds allow banks to create new money when they issue loans.
What?
A new, but a small percentage of a new, supply of money is created through the process of issuing bank loans.
How much banks earn by interest, or creation of an additional money supply that is eventually paid back to the banks, is controlled by the Feds.
The banks want to make loans, but banks have regulations that they must follow to profit from making loans.
If you can't get a loan from the bank, don't blame the bank: they have regulations they must follow.
We just received a payroll protection grant from the Feds. It was through the banks we deal with. Documentation was made that the grant was spent on payroll.
Document, document, document everything if you deal with a bank, and through the bank the FEDS,