- Income Unchained
- Posts
- LEAKED: "Why Smart Business Owners Are IGNORING Elon's IRS Tweet"(And filing their taxes faster than ever before...)
LEAKED: "Why Smart Business Owners Are IGNORING Elon's IRS Tweet"(And filing their taxes faster than ever before...)
THE ELON TWEET THAT COULD DESTROY YOUR BUSINESSPicture this: Last Tuesday, a business owner walks into my office, iPhone trembling in his hand. His eyes are wide with panic. "Elon Musk just tweeted that the IRS Direct File is shutdown," he says. "Should I wait to file my taxes?"I almost laughed. But in this game, misinformation can cost you everything.THE TWITTER TORNADO Elon Musk sends a tweet. The internet explodes. Thousands of business owners freeze.BUT HERE'S THE UNVARNISHED TRUTH:• The IRS CONFIRMED Direct File is STILL OPERATIONAL• One tweet does NOT change tax law• Your filing obligations remain UNCHANGED• Social media is NOT your tax advisorTHE REAL DANGER: PARALYSIS BY TWITTERWhat happens when you listen to tech billionaires instead of tax professionals?
"Formal education will make you a living; self-education will make you a fortune."
Business Lesson
Beyond legal penalties, misusing withheld payroll taxes can lead to significant financial burdens, including substantial fines and interest on unpaid amounts. The IRS imposes penalties ranging from 2% to 10% of the unpaid deposit, depending on the lateness of the payment.
To illustrate the gravity of this issue, former "Real Housewives of Atlanta" star Peter Thomas was sentenced to 18 months in prison for failing to pay employment taxes for his Bar One restaurants, diverting funds for personal luxury expenses. In addition to prison time, he was ordered to pay $2.5 million in restitution and will serve two years of supervised release.
This case serves as a stark reminder of the importance of fulfilling payroll tax obligations. Employers act as trustees of these funds on behalf of their employees and the government. Mismanagement or diversion of these funds not only breaches this trust but also exposes the business and its responsible individuals to severe legal and financial repercussions.
For more details on Peter Thomas's case and its implications, click the link below:
Marketing Sales
The Arnold Advantage: Master This ONE Principle Or Stay Small Forever
I gotta shoot straight with you about something that's been setting my brain on FIRE...
Just finished watching this Arnold Schwarzenegger doc on Netflix, and holy smokes - let me tell you about THE BIGGEST marketing lesson this Austrian legend teaches us...
Here it is: DOMINATE A SMALL POND FIRST!
See, Arnold didn't just blast into Hollywood saying "I'm gonna be the biggest movie star!" Nope. First, he became THE GUY in bodybuilding. Complete and total domination. He owned that niche so hard that people HAD to pay attention.
Think about it...
Small pond: Bodybuilding
Built his name
Created buzz
Became UNDENIABLE
Then... BOOM! 💥 Leveraged that fame into movies, business, politics