Welcome to Week 2!

Welcome to week 2 of the blog! If you have not gotten the chance to read the first article, then go do that s#*%t please…… But, if you don’t have the time I guess reading this will do.

Now that it is spring season I hope all of you are enjoying your time outside in the sun. If you live in the north, please wear long pants and a jacket until it gets closer to 60 degrees on a regular basis. I am tired of seeing all of you jogging in shorts and a t-shirt, then coughing all around me without covering your mouth.

A lot of exciting things occurred this past week. Lyft finally became a publicly traded company even though you cannot really buy shares that matter, Uber spends $3.1 BILLION to acquire a business in the Middle East called Careem, for some reason Millennials are buying stock in Boeing, and last but not least……. I purchased a sick HP monitor for my home office.

Let’s start off with your neighborhood friendly Lyft opening on the stock market this past week at $72 per share. No, that was not a typo, I said $72 per share. Not saying that I am going to buy any shares soon but, I am not going to be buying any soon. Just throughout their first week of going public their IPO has already taken a hit. I mean Uber isn’t looking too hot lately since people seem to be going missing after ordering one. Hmm, maybe they should start having their drivers insert a lit up fluorescent light in the middle of the dashboard like another company we know of….

Nonetheless, apparently Lyft has created two separate classes of shares. Class A is for the current owners to buy up and are only available to certain individuals; they call themselves the “Decision Makers.” Then there is Class B shares, and yes as you guessed it, those are for us. So, as you think hard on if you should purchase any shares through Lyft, just know your vote actually does not count.

The Financial Seed:

Now I know you most likely want to hear about something related to Business itself right? Well how about we focus a bit on tax deductions for businesses that are filed as an LLC (limited liability corporation). For the past few decades the LLC is the most popular business type being used throughout the United States. With that being said I want to ensure that you have a base knowledge of what can be deducted from your taxes. See the below list and the link to obtain more details.

  • Office at Home Deductions
  • Business Insurance Deductions
  • Business Automobile Deductions
  • Health Insurance Deductions
  • Licensing/Filing Deductions
  • And many more……..

Website: https://www.incnow.com/tax-tips/

Why am I providing this information to you? Unfortunately, most people start businesses and do not track anything that occurs other than making deposits. But, what they don’t know is by tracking all of the expenses and/or things that you pay for to run your business you are allowing yourself the opportunity to owe $0 in taxes for the first few years of your business.

Take a few minutes each day and read a couple of the sections regarding deductions in this site and I can assure you that your growth and understanding of finance will coincide.

Thank you for tuning in and as I always say, if you have an opinion on this article please comment or email me directly at; kennydavis.theprivateprof@gmail.com.

Our next release will be Tuesday, April 9th, 2019!

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