HVAC FINANCIAL FREEDOM PODCAST

How the ERC Tax Credit Can Save You Thousands of Dollars on Your Taxes This Year with Mike Hall

About this Episode

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Welcoming Mike Hall to the HVAC Financial Freedom Podcast!

With the Employee Retention Credit (ERC) Tax Credit, you can potentially get up to $26K per employee from the IRS against certain payroll taxes for your HVAC company.

In this podcast, Mike Hall explains how the ERC tax credit works and how you can take advantage of it, and you’ll learn…

0:19 Introducing Mike Hall

1:52 What Inspired Mike to Start His Own Business

4:40 Taking The Leap From Employee to Entrepreneur Mindset

10:04 Employee Retention Tax Credit: An Opportunity For Mike and His Team’s Clients

14:43 Determining Eligibility and Qualification for the Employee Retention Tax Credit

21:51 How Does Jorns and Associates Help You Claim Your Maximum ERC

25:05 There’s Still Time to Claim the Employee Retention Tax Credit

26:56 Connect with Mike (Jorns & Associates)

28:04 Take Advantage of the Employee Retention Tax Credit While You Can

29:48 What Does Financial Freedom Mean to Mike

30:43 Mike’s Journey to Financial Freedom

35:30 How Did Mike Overcome Self-Limiting Beliefs and Negative Mindset

39:14 3 Keys to Achieving Success in Life

40:42 Tapping into the Power of Intuition

Tune in to learn more 🙂

Join our FB Group: www.facebook.com/groups/hvacfinancialfreedom/
Presented By Polianna (https://polianna.net/)

Audio Transcript

Welcome to the H. Vac financial freedom podcast, a show where we talk about business ownership and financial freedom by sharing stories and advice of experts who can help you get there now your host john victoria Hello and welcome to the H. Vac Financial freedom podcast. We have a very special episode. Today we are talking the E. R. C. Tax credit and how you can say potentially tens of thousands if not hundreds of thousands of dollars back um through the E. R. C. Tax credit. And so joining us today is Mr Michael, who is the founder and Ceo of J. And M. Hall Financial LLC, which is an investment company expanding across many different industries.

You know, Mike has traveled the world teaching personal growth and financial freedom, one of our favorite topics and his success has landed, landed him as a judge on NBC's the celebrity apprentice which we will definitely dig into later and he's recently become a published author. Mike has also been in publications such as Success magazine, Radio and Tv and also was recently published in Ink magazine for his accomplishments as the Ceo of one of America's fastest growing companies in 2020. Mike is currently a founder and the president of expansion for jones and Associates, a specialty firm focused on the employee retention tax credit which we are talking about today.

Welcome to the show Mike, thank you very much. I like the intro video. That was awesome. Thank you And so I'm really excited today because a lot of things we're talking about will get money back into H Vac businesses, bank accounts writes the er see tax credit, and a lot of people have been talking about it, but you know, for today's podcast, we're gonna really give everyone the shimmy of what it's all about and how you can take advantage of it. Um but before we hop in now, I wanted to first dig into your story because I love hearing how everyone got to where they're at today, because at a certain point in your life, you're not a business owner.

And I'm curious like, what's that story of getting inspired and starting up your own business just to kick things off, man. I mean growing up, I was pretty, um my parents were pretty adamant about, you know, go to school, get the best education you can. And so I did not like school. In fact, I hated it, but I kind of peeked through each grade because my parents really, you know, it was important to that, right? And so I graduated high school, I went to college, I peeked through with a psychology degree and I had, you know, I always wanted to make a lot of money and you know, I always liked nice things.

Um I didn't grow up with those nice things. I just didn't know how to get them right. And so I thought maybe you had to be really smart or you had to be a doctor or you had to be lucky, I'd, I just didn't know. And so I graduated college, I moved from the Midwest out to Arizona actually and this is back in the year 2000, so quite a maybe showing my age a little bit here, but I actually answered the ad in the paper and uh I met, I kayla came into an office with a bunch of people who are like self employed entrepreneurs and anyway, long story short, I fell in love with that atmosphere.

Just, it was a young group of people, I was young, they were talking about making money traveling and all this stuff and so I found somebody who became a mentor to me basically and my mentor at that time was very successful and he started teaching me, you know, not just about how to make money but about personal growth and how to have better relationships and he suggested books to read and things like that. And so I kind of fell in love with that um I guess that type of education because I've never had anybody telling me that or you know how to get that type of stuff in my life and I just kind of focused on it, right, I was self employed for years, I was an independent business owner for a company and then one of my good friends and I started a traditional business and since then we've probably had, I don't know 30 40 different companies from all different industries leading up till today, wow, that's incredible and I totally relate with you, you know growing up as well, parents are all about the school and I intend to school at the naval Academy and I at the end of this that this is not for me, I want to do something else and you know, I think it's just feeling like you're you're meant for something bigger, right?

I feel like you might have felt that it's like there's something in me where I've experienced this stuff in the past, but there's something more more out there that that I can do with my time um and it's a leap, right? It's it's like making a leap from the employee mindset to business ownership and starting on these businesses. It's like I didn't grow up with it, there's like a chasm that you have to cross to build Yeah, could you talk to that and like how did you, I know you mentioned your mentor, but it sounds like it's a lot of inner work as well to work through.

Yeah, I mean what you mentioned is right on right, like I had a couple of jobs in my life like you know in high school and in college and I hated them, right? And I was like this is it like this is what I have to do is I'm going to get an education and and then I have to go get a job that I don't like, like that doesn't make any sense at all. And so that's why like I said, when I, when I came into the atmosphere of a bunch of people that like enjoyed what they were doing, I was like, well this seems weird.

This is I like this, right? And so, um, you know, just just having that type of atmosphere, having somebody telling me like, hey, you should read these books, you should come to these seminars and you know, back then we didn't have podcasts like this, right? We didn't have social media where you can get on, you know, get online and find somebody that is telling you things that you like. So today, more than ever you have the ability to have Access to these, you know, great thinkers or successful people financially or it doesn't even have to be financially right.

Like you might be somebody who loves to cook well you can get online and find somebody who is great at cooking and like my wife, like she loves to cook and she follows people that love to cook and so you have access to that, like you didn't have, you know, 20 plus years ago. And so anyway, you know, years ago, I just, I just, I wanted something more. I felt it within me, like you had mentioned and I just let that drive me into a lot of screwups, I'll tell you like nonstop, I sucked for years and eventually kind of figured it out and I'd say you figured out in a big way because I mean just some of the things you've done in the past, you know, being a judge on NBC's celebrity apprentice, also an author now and just in being one of the fastest growing companies in 2020 2020 like that's, it's, that sounds like it's a like it's an astronomical leap.

So it's because there's there's businesses who are, who stay in business, then there's businesses who break through in a big way. So I guess I'm I'm sorry if I can continue to dig about, I'm just fine. What, what is that that really like, like catapulted you have been a big way. You know, once again, I, I really think a couple of things, one just having the knowledge, reading books, going to seminars, doing things like that for literally two decades, right? Two decades of doing that. And so that's one thing messing up on a bunch of different businesses that just didn't, you know, they didn't maybe go the way that you plan.

In fact they rarely do, right. And so as I started a business, I would kind of learn from, okay, maybe we shouldn't do that anymore. And then I also took what we did learn that was positive and then I started applying to other businesses. And so um you know, the celebrity apprentice, I was an independent business owner for a company and they basically took some of their top uh business owners and and had them beat judges on the show uh from that company. I created passive income and the passive income led me to start investing in other companies.

And so we invested in actually some restaurants pizzerias, the pizzerias needed um delivery. And so these were in like midwest towns and at that time this would have been 2016 actually. And so in 2016 we we decided to start a restaurant delivery service because there was no option there. Now obviously you have Uber eats and grubhub and doordash and delivery dot com. And all these companies back then, those companies were only in large cities and so we were in one of our locations was Topeka Kansas, right, so a town of maybe, you know, 100 and 50,000 people give or take but no delivery.

And so we saw the opportunity and within a couple of months our delivery business was more profitable than our um our pizzeria in that town. And so the writing was kinda on the wall and so we're like, okay, we need to get rid of these pizzerias and focused on delivery. And so we started building this delivery company and we opened up in, you know, Wichita Kansas des Moines Iowa towns like that with a few 100,000 plus people, but once again, no competition. And so we grew it at one point in time, we were servicing if you're counting suburbs and all that stuff over 300 cities across the United States, Which landed us in inc 500 as I think maybe I don't remember the number, but it was like the 400 fastest growing company within 2020.

So we ended up selling a portion of that. We merged uh with delivery. com and we're now, I guess the largest franchise provider for delivery. com at this point. And so that's, that's just one of our other businesses that we have. It's kind of, it runs itself at this point. That's kind of my journey. I didn't tell you about all that other businesses that were failures, but there's plenty. So no, it's, it's a beautiful thing that you said, it's like you always, even if there's a failure you carry forward something with, you know, there's lessons, it's the, it's the connections you've made when trying to build that business up and it led to you being one of the fastest growing companies?

Um That's, and that's absolutely incredible. Um, and so how did, um, so with all that, how did the PRC tax credit come into play? Was this another company that you spent up during that time or is this something that you've been doing, um, that entire entire way. So that's a good question. And, and you mentioned something about the connections. Right? And so I want to talk about that real quick, cause that's, that's kind of helped along the way. right? Is every business that I've had. I've met people and created great relationships and for over 20 years now being an entrepreneur.

Some of my best friends in the world are people that I've met along the way. And so we've created great relationships and when one business maybe doesn't go as well, we still have great relationships. And when we start these other companies we can bring a lot of these other people over with us because we already we trust each other. We already we enjoy working with them. And so the delivery company along lot of the, you know, they came from previous businesses but the delivery company a lot of people moved over into this.

It's technically a um accounting firm that we own that focuses on the employee retention credit. Part of the reason we were able to grow so fast and have such a good internal team is because we took some people from other businesses and kind of put them into the infrastructure and the referral side and things like that as far as the E. R. C. Um how it actually came to be. So the E. R. C. Has been around this particular stands for the employee retention tax credit. Uh This particular program is not new.

It's actually been around for a couple of years comes from the cares act which right when covid happened. Uh It came from, you know from the cares act. Originally people could only do the P. P. P. Loan or the E. R. C. You could not do both. Well I don't know the exact day but it's you know probably a year and a half ago. Give or take. The government said that if you have received P. P. P. Money you can now also receive this er C. And so our accountant who's been our accountant for years over a decade.

He also grew up with my business partner. They've known each other since kindergarten. And so him and a couple of my buddies we all kind of came together and said listen we have a great network of entrepreneurs right? We obviously have a delivery service, right? So we have restaurants all over the United States that we have relationships with. We have, you know, name an industry. We probably have a friend that owns a business within that industry. And so we said we should at least go out and tell them about this.

And we started my my our accountant Justin jones is his name and he's now he's the ceo and the you know hence Jordan's and Associates. That's him. Right? And so um we basically just started going out and talking to people and said hey listen there's there's this This tax credit that's available if you qualify. The government is actually sending checks out to the businesses they qualify. It's up to $26,000 for employee. And so it's significant money now back a year and a half ago when we were talking to people it was you know a lot of people were like they didn't believe that it was even real right?

And so you know our rebuttable that is did you get a P. P. P. Loan? And a lot of people did write, some people got tens of thousands hundreds of thousands even millions of dollars. And a lot of those P. P. P. Loans. In fact most of them got forgiven meaning. They did not have to pay them back as long as you did the right things with that money. And so by explaining that to people it kind of opens their mind to oh yeah the E. R. C. Is that does make sense right?

And so we just started referring a couple of people and they were happy with the service. We saw how much money they were getting, obviously it was very lucrative for us and we were like oh my goodness, this is unbelievable. I we I mean it's still baffling to me today how much money businesses are getting if if they qualify right? So we just um we just started spreading the word and it grew like crazy and we've only built it based on referrals. That's incredible. And it's I mean that from what you just said there's a few things that opened up but 1st 26,000 per employee like that's that's huge right?

That's huge for let's say it's, you know, let's say it's even a small H VAC company, let's say we have 15, 20 people and you multiply potentially up up two point Yeah, it's based on wages and things like that. But yeah, I mean that's, I mean, no matter what it is, that's a sizable sum of money that they wouldn't have had otherwise, Right? And it's just a matter of applying and seeing if you if you can get it. Um And That's incredible. And so I guess maybe one of the asterisks that you mentioned was uh eligibility.

So who who exactly is eligible? Like is there a certain size of company or there are certain characteristics to this company? Is that because the revenue went up or down? Like what what goes into determining whether someone can even apply for this? Sure, so I guess as far as eligibility eligibility is different than qualification. Right? So eligibility is you have to have W2 employees, they cannot be contractors. Okay. W two employees, you have to have more than two w two employees, and those employees cannot be owners of the company or family members of others.

So it has to have more than two, and then less than 500 W two employees, and that's 500 full time employees, if they have part time employees uh It's possible that if they're over 500 it's possible that they could be eligible as well. I can talk about qualification if you want me to but that's that's just eligibility. So anybody that fits within that, in my opinion, you'd be crazy not to take 15 minutes to just see, right. Just take a look to see if you would potentially. And we wouldn't know qualification within 15 minutes.

But we could have a conversation about their business about our company and about what the E. R. C. is and kind of get a good idea if it's worth moving forward to take a look into it. Yeah. Is that something that we could probably dig into like maybe high level? Like what goes to the qualification eligibility? Yeah. So so a couple of things, first of all you qualify on a quarterly basis. Right? And so there's technically there are six checks that you could receive. So you might qualify for only one quarter and only get one check, right?

You might qualify for everything and get six checks or you might not qualify at all. So there's a few things that our company looks into the first and this is the most commonly know is a what's called a significant loss in revenue. And so the what you're looking at is just overall revenue. Uh And you're comparing 2019 verse 2020 Quarter to quarter soap. You one verse q one of 19 verse 20 and then it's 2019 verse 21. Uh You're also comparing quarter to court. And so there's some significant revenue losses that you would need to have.

Once again, I can get into specifics or not for now. Just if you have more questions, that's one of the things we're gonna look at. Um pretty much anybody who has a calculator can pull pull out the calculator, do the math on whether they would meet those parameters, right? This is where most people kind of end as far as they're digging many C. P. A. S. And there's some amazing cps out there that we've spoken with, but they don't understand the full details of this particular program because there's thousands of pages of legislation.

There's hundreds of pages of guidance and there's been a lot of amendments over the past couple of years. And so we talked to cps all the time that they don't really, they know a little bit, but they don't know the ins and outs and we have, you know, I don't know how many, maybe 100 and 50 to 200 people internally from C. P. A. S. Tax attorneys. You know, guidance experts, all these people that all focus on the E. R. C. And so there's no way that, you know, some focusing on just a basic accounting firm is going to know the specifics of the E. R. C. And the qualifications.

Um, So another thing that we look at our restrictions across the United States, there were thousands of governmental orders such as a stay home and stay safe uh type order. Right? And so our team, you could say, you know, I'm in Arlington Virginia, right? And our team would go, okay, we know that these restrictions were put in place, this judge put it in place on, you know, this date and it was lifted at this time. And and so they already have all of that within uh you know, most of the, you know, any major city for sure.

And and we're constantly gathering more restrictions that businesses could potentially qualify with for that. We also look into what's called a nominal impact. And so the I. R. S. Says that if you could prove that you had a more than nominal impact due to to covid you could qualify Now how they define a nominal impact is a sector of business that was 10% or more in 2019. And then that same sector of business was down 10% or more at some point in time during the pendant. And it has to be pointed to government orders and things like that.

Which once again our team already has. So I can I can kind of give a example, I mean in the restaurant, in the restaurant industry it could be something as simple as you know, um A business has, let's say 75% of their business came from in store dining, right? And because of COVID people were not coming into restaurants, they had, you know, some restaurants shut down for a period of time. Others had to go to only pick up or drive through or something like that. And so you know if if if that particular sector of your business went from 75% down to let's just say uh 60%.

Well that's a more than nominal effect because it's more than 10%. And so that in itself could possibly lead to qualification depending on the government of orders and things like that. And so many people C. P. A. S. I mean we talked to business owners with you know very large companies that assume they will not qualify. And then we go through some of this stuff and we find out that they would and obviously they're very happy when they're getting you know six and seven figure checks out. Yeah and it's unexpected to right.

It's like it's like an unexpected gift that that comes in. It's totally yeah like if you go from I don't think I'd get this or my C. P. A. Told me no. And then all of a sudden I mean honestly any money above and beyond that is is great. Are you like so. Yeah and I think one of great metaphor as well is that you know your C. P. A. Might just be like a primary care position and then what you guys are doing like you're you're like a neurosurgeon.

Like you're very specific on one area of the tax code and built out a team around that and it's it's just very tough to do replicate something like that with the team and the insights that you've been pulling from so many companies. Yeah. That's a great analogy actually. I mean it'd be like if you're having headaches you can go to your general practitioner right? And you can have them prescribe you some pain medicines and that's great. But if it's more than that right? If you have if the pain medicine isn't enough, if you need surgery or anything like that, you're not gonna want to go to your general practitioner, you want to go to your neurosurgeon.

That's an excellent analogy for for this, right? The E. R. C. Is much more complicated than just, you know what your normal C. P. A. Does. I love that. And and so let's say that someone who's listening, they say oh I'm I'm interested I you know I potentially there's money out there for me that I didn't know that would be coming to me. How would they get started? Like would let's say they want to work with you? Like what what would that look like that process? So here's what we do.

We take a fully refundable $2600 deposit uh If you do not qualify, we send that money back uh Once somebody signs and pays to take our firm on, we then send a welcome email, the welcome email has an itemized list of what we need to start the process. And so it's gonna be P. P. P. Loan and forgiveness. If they got it payroll 9 40 ones, there's a question and answer about their business and you know how Covid affected them. And so we gather this initial information. Once we gather that initial information, normally we have to go back to the owner or you know, we'll work with their C. P. A. Or their bookkeeper, whoever we need to work with.

But once we gather all that initial information, we usually ask more questions. And so the goal, our goal is to maximize the amount of money that's available per client. And remember there's as as many as six checks that could, you know, could be sent out. So our goal is to try to get you six. Now, obviously that doesn't happen every time, but we're going to dig and dig and dig until we basically can't find anything anymore. And so sometimes that takes a couple of weeks, a few weeks, right?

Sometimes it takes a few months. It just really depends. Um, but within that time frame will know down to the penny how much they're getting if they qualify or not. If they don't, we refund, If they do qualify, will send them the information to look at assuming everything's accurate, they can sign off on it are Cps then file once file the government's taking about 4 to 7 months around there to send out checks. The checks go directly to the business. Our Once they received the checks, we then invoice them for 20% of the total and then we deduct the $2600 deposit that they initially put down.

Got it. I love that. So I mean, so basically it's it's it's it's risk free in a way where it's like you put some money down, but if you're not eligible then you get that money back. But if you get it, it's you're you're you're only paying money that you wouldn't have gotten otherwise if you never applied for it. And so it's it's currently yeah, currently a big risk risk reversal. Yeah. I mean I tell people like unless it's like it's just clear that they're not they're not going to qualify.

I've got no problem telling somebody that's like listen, don't waste your time or ours because I don't think there's money there for you right now. If if it's if you have a 10% chance of getting credit or of getting it, why not why not give it a shot right? Because maybe there's money there for you, you don't know until we kind of open up the hood and look at what's going on, we don't know and we can't make that I would never guarantee qualification. Even if it's like the easiest case, I'm not a C. P. A. Or guidance expert.

And so I have our team that does that and I let the smart people handle that. I just uh bring in business and and and let let our smart people handle. So I love it. And is there a window um for the er see because it's it's 19 2019 to 2021. Is there a certain time where you can no longer file for the E. R. C. Tax credit or is it just indefinite the moment? No. So we have another couple of years but the The way that it's written is the amount of money that's available which once again today is 26,000 per employee that's going to continue to decrease over time and eventually it will kind of fizzle out.

The p. p. p. loan. It was they had a set amount of money and it went through really fast and it was just gone one day it was just gone right with this it's kind of fizzling out at least that's the way that it's written now. Could could they change things? Of course. Yeah. You know we don't make the rules we have to play by them and so if they change something great but once again that's how it is now I see. So there really is like if you want to maximize the total amount that you could possibly get per employee.

Like it's something that you want to take care of sooner rather than later also because it's going to take 4-7 months for that check to even come so it's someone's interest to do it sooner rather than later. That's the worst part about it. Is that the length of time that it takes right? If you signed and paid today, you know let's say it takes a month to determine qualification and get you and get you file. Well it might take another seven months just for the check to show up.

That's eight months in itself. And so that's that's the worst part. I mean we get people like hey where's my check, where's my check? It's like I can't speed it up. That's that's the government the I. R. S. Right? So Hopefully with their their hires was like I don't know 7,087. Yeah. Hopefully with the 87,000 they can speed up just to tab does that make you nervous? I'm like no I'm excited. I hope they can get things done quicker right like we can't wait for eight months. Yeah so that's amazing.

So what's so in case someone wants to reach out to you what um website email what's the best way for them to get in contact with? So so the website is Jordan's C. P. A. Dot com. Um I don't know if they'll see the chat. I can write it in there. Will they see the chat? Yeah we'll add in the show notes. Okay so yeah just Jordan's C. P. A dot com. J O R N S C P A dot com. That's the website. Um I so check it out.

There's a five minute video on there that will kind of give you some more specifics. Uh, you're more than welcome to actually reach out to me and email me if you're interested. Make sure that you let me know that you found out about our, you know, our company in the program from this particular show. And um, it is mike, so M I K E at Jordan's C P A dot com. Mike at Jordan's J O R N S C P A dot com. Got it. Perfect lock that in and then we'll add that to the show notes.

For sure. For anyone. Um Great. So you're seeing tax credits. It sounds amazing. Any last things you want to cover in it before we transition and talking about financial freedom, your opinion on it and everything like that. Not necessarily. I mean, I would suggest so, I'll end with this, uh, if you don't know about it, obviously look into it, right? If you do know about it and you've been told that you don't qualify, I would still strongly suggest you look into it because there's so many, like I said, there's a lot of changes there's so many different things out there where people are assuming they don't qualify.

Some of this information is coming from C p A s some of it's coming from C Cfos and Ceos of large companies and many times they're wrong not every time but many times they're wrong. And so why not take I tell people take 15 minutes of your time five minutes to watch a video. 10 minutes to hop on the phone with an expert. Um and at the end of that call you'll either go yeah I want to move forward or I don't I wasted 15 minutes. But what if you did move forward and there you are qualified and you get checks coming to you.

Why not why not take that 15 minutes. So anyway let's go back to financial freedom. That's my personality is not like accounting or any of that stuff. That's why once again I'm not a C. P. A. Or any of that stuff. I enjoy talking about financial freedom and personal growth and that type of stuff a lot more. Not that I don't like talking about you know helping people make money as well. But anyway that's that's I'm I'm about both as well. So it's like yes this will help but really the vehicle that will take you to wherever you want to go is going to be first it's your personal development you know of all the lid and then also then that transition straight into financial freedom as well.

So to kick that conversation off like what is so financial freedom? It means so many different things to a lot of different people like what like for you like what what does it, what does that even mean? Yeah, I mean honestly like you said financial freedom is different for everybody, right? Um to I guess to maybe simplified it's being able to do what you want when you want, where you want and with who you want, right? I mean that's that I was pitched that 20 years ago, right?

My mentor is like listen you can become financially free and that doesn't necessarily mean you've got you know, hundreds of millions of dollars, but if you can do what you want when you want, where you want and with who you want, you're in pretty good shape, right? So sometimes that means you need to create passive income or maybe you just make a ton of money and you're really smart with it. Um but but that's kind of financial freedom to me and for financial freedom is that is that sort of like a destination or is it something that you're always working towards?

Because you know, one thing that I've noticed with some people who are working their way there is you know as their income increases, you know, their expenditures also increased and so what's going in is also going out, they never really get there. It's this hamster real of always working towards it. Sure. Yeah, can you speak on that and yeah, I mean what I'll say is you know, you should be able to, everybody has a different lifestyle, right? And so you should be able to be smart with your money in my, in my twenties for sure, I was more focused on having people think that I was successful and so I was buying things that I couldn't afford, um you know, a car, I had things that that once again would make people think, oh this guy is very successful and I I learned that that's, you know, like that was my ego, right?

And so as I kind of got out of that, it was more like proving people wrong. I was like, you know, people didn't think I'd be successful, so look at this, I've got a nice watch, I've got a nice car and so to me now I look back at that, I'm like, man, that was so stupid. If I would have just been smarter with that money, I'd be way further along. But you know, you learned your lessons right? And so in my um I guess early thirties I was like having to fix some of those mistakes that I made financially and then all of a sudden, you know, I, I learned how to, to be smarter with my money and so I'm financially free now I don't ever have to work a day in my life if I don't want to, but I love the, I love the grind, I love meeting new people, I love being an entrepreneur, I love helping other businesses learn about this particular tax credit.

Um I love teaching people about financial freedom and how they can also become financially free because somebody taught me this years ago as well and so I've got the knowledge should, what does it pay it forward? Right. Love. And and can you speak to you know getting some financial freedom. It can't just be someone who is stockpiling all their cash underneath the mattress right? You know it's like how do you how do you how do you so you gotta enjoy and also how do you how does someone properly deploy this cash?

Like it sounds like in your your your case you invested a lot of money back into other businesses which you helped to grow and then a lot of your financial freedom came from that was that the primary vehicle or are there other things that you did like I don't know stocks or real estate and Yeah I mean yeah so I mean I have just basic long term safe play um retirement stuff right? Where just every month X. Amount of money comes out of my account. I don't touch it.

I don't even see it. It just goes directly into accounts that sets up long term retirement where I'm just whatever right That's that's for uh for the rest to my life. I have many other investments from life insurance, obviously stocks, we've got real estate. We we have um land that we own. And so I've kind of diversified a little bit and once again if you talk about real estate, many mistakes for sure, but you know, so we have some real estate as well. Uh Cryptocurrency, we have Cryptocurrency, so we just, we've got a bunch of different stuff.

I don't love any of that. What I love once again is building businesses and and meeting new people and and being able to, to collaborate to build something bigger than ourselves. I love that. And you mentioned life insurance, are you, are you doing like um like infinite banking and velocity banking, that sort of stuff or uh you know my, so a good friend of mine basically sells life insurance. He pitched me on and I'm like, yeah, sure here you go. So I just, I don't know, I just, I just did it to kind of help him out I guess.

But you know, it's a long term thing for us as well. Like I I stay in my lane, I've learned over the years that I'm not good at. I'm not good at most things. I'm good at a couple of things and I just kind of stay within those couple things. Love that. Yeah, no, I just mentioned because tomorrow we actually have an episode with someone speaking on infinite banking and you know how that works and how that plays in. So it's a real estate and so it's it's very interesting.

Um you know, I have a policy myself just so I'm just curious like that's something that I'm gonna have to watch the podcast from tomorrow so I can learn about it. Oh yeah. But I just don't know. I can't even speak up. I don't want to pretend like I know enough about it. So no problem. Yeah, it'll be fun. Um, so great. So financial freedom, a lot of different vehicles that you're working on and if you were to maybe distill maybe two or three things that someone needs to, because I feel like a lot of it also is it's, it's a belief shifting game.

Um, I spoke on this on a previous podcast where there's a lot of beliefs that we carry over from our childhood that many times can stop us from achieving signify and wealth. And so I'm curious like, are there certain beliefs that you have guests like unwound or there's certain beliefs that you instilled that helped you to get there because I feel like our cap is really our, our mind and what we think is possible and you know, we could be here, but then our beliefs keep us down here.

And I'm just curious like what I imagine that there's been a lot of mental work over the years. So like what are some of the beliefs that you've had to work through. I mean, that's a whole, another topic that I can talk about, but once again to try to keep it, you know, time constraints. I'll say that, I think I think people are born to win, but but we're conditioned to lose, right? And what I mean by that is, you know, if you picture your mind like a keyboard, right?

When you're a kid, your parents, your teachers, your siblings, people around you are entering information. They're typing on your like, they're just typing. They can put whatever they want to in your mind and you don't have any filter. You don't have any, you don't know what's correct or not or whatever. And so growing up, I always thought that I was stupid. I really did. I didn't think I was smart at all. Um, and that's because my parents were so out of it and they didn't purposely do that.

I was loved. And, you know, I'm not that's not, but I was loved. But I thought I was stupid because I didn't get good grades, right? I got I got sees, you know, which was good enough to get through. But my my dad particularly wanted me to get AIDS, right? So I didn't get that. And so, you know, that created problems within itself. And so I went all the way through school and even graduated college thinking I'm not smart. And then I went to I went to that, like I said, I met those people who are excited and they're like, it doesn't matter how old you are, it doesn't matter your race, your religion doesn't matter whether you're smart or rich, it matters your work ethic.

And if you just go like, if you just, if you take this information and you read these books and you go to these seminars and you apply what you learn, you can be more successful than anybody who's, you know, anybody that's out there. And so I just, I don't know if I was too stupid to believe that I could do that or if I was really smart. I don't know, I just, I got rid of that by, by going to these events and all that stuff. I kind of got rid of that.

I'm stupid type of, of mentality and you know, was able to become successful. Now I look back and like I know that I'm smart. I was just not interested in science class and I wasn't interested in math in history and things like that. That's, that's powerful. And it's, yeah, it's, it's like that measuring stick when we're younger, it's, you know, your, your entire life, you know, where you could get into school and the types of jobs you could get were so dependent on your grades and it can be very traumatizing during that time.

And so yeah, I imagine there's a lot of inner work you have to do to get out of that and, and to shift that belief and like, no, it's not that I'm stupid or dumb. Like that's it. Maybe with maybe that system might have said that but like that's not necessarily what you could do without the entire system that's so powerful, so powerful and so also I think we're closing up on time. I think we're about 40 minutes in. Is there any last pieces of advice or words of wisdom you have for everybody, whether it's on the E. R. C. Tax credit or anything in general that you want to share.

You know um E. R. C. Tax credit reach out to us. We'd love to to at least have a conversation and see if we can help you out. Um as far as financial freedom. I mean you know I I guess I haven't even thought about this in a while but I was taught years ago these were like 33 ways to get successful. Pay attention to the right people. So find somebody who has what you want and kind of match and model that person right? Like I said today it's easier than ever to find a mentor.

A mentor doesn't have to be somebody you shake their hands with. You could literally get on instagram, you get on social media, you can get on Youtube, find somebody who that you like and listen to them and listen to them and apply when you are so pay attention to the right people get excited about something right? Find something that you're passionate about doing. Uh if you don't like whatever don't do something that you don't like, life is way too short. Do something that you love. Too many people are uh, you know, waiting in traffic to go to a job that they don't like and what I find something that you love to do and then third is just never quit.

Just keep, keep going. You got to just keep, keep going and eventually you'll find your group. So that's my uh, hopefully that's helpful. And one last question. So how do you pick the right people? Right. I think that's, I think that that can be the tough thing, right, discerning? I mean, there's I know there's something that I realized a few years back and it was that the person who is the most well spoken or the most charismatic doesn't necessarily that necessarily know what they're, what they're talking about, but there's no persuasive, it's a like, discerning between, okay, this person actually knows what they're talking about and this person doesn't, and I guess like, how did you begin to, was it luck or was it, is there, is there like some clear thing that you to look for a man?

That's a really good question and it is very true. Unfortunately, there's there's also like you said, there's people out there that their intentions aren't great. And so for me, um, it's more intuition for me, right? Like when, when I get pitched a business opportunity, sure, I look at the numbers and things like that have to make sense. But if I don't get a good feeling about it internally, whether it's the person that's pitching me or or just the actual opportunity, then usually I say no to it right initially.

Like years ago when there was a good financial opportunity mike, you might have said no that's you shouldn't spend your time doing that. But I was like too excited to make money now. I'm like I do things that I love to do and it's an internal, I feel it right? Like I either feel it or I don't if I don't I know because I've learned not to mess with that. It's not it's not worth my time if I feel it and it's it's something that I can get excited about then I put my time and energy into it.

I love it. It's something it sounds like you refined over time, right? It's just through experience you can sense like, hey this is something that's worth it or this is something that I don't know. Yeah. Well it's funny because the E. R. C. Initially it was it was like yeah we'll do a little bit here and there and then the money started rolling. I'm like, oh yeah I feel it in my gut now right? Like this this is actually I had been looking for ways to get out of the delivery business and things like that.

We were we actually had a business that we were working on and then we're about two months away from launch but we were going to actually start you know kind of transitioning. But the E. R. C. Thing was just too good to too much. It was just too good. Long story short. I love that awesome. Well I think that about wraps it you know mike thank you so much for your time today and I really enjoy talking to R. C. Tax credit but also financial freedom. It's like it's one of those things that if everyone could hop on that vehicle they could really build a better world for themselves, their families their employees and their communities.

So yeah I'm super excited for anyone who decides to reach out to mike. You know you're see tax credit will be amazing for you if you are eligible for it but with that you know thanks so much everyone um we'll see you on the next episode and yeah appreciate you for your time. I take care everyone. Thank you for joining us for the H. Vac financial freedom podcast. Follow us on Stream Yard Apple podcast, Spotify, amazon music and check out our main website www dot H. Vac Financial freedom dot com.

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