MKG Tax Consultants News, View Points, Taxes & Finances

Whether you’re buying or selling a home, the experience can be both rewarding and stressful.

FHA Loan Requirements

• Credit score of at least 500.
• Debt-to-income ratio of 50% or less.
• 3.5% down payment if your credit score is 580 or higher.
• 10% down payment if your credit score is 500-579.
• The house must be your primary residence and must meet the FHA’s minimum property requirements.

The beauty of family

Generational wealth transfer is referred to those assets transferred down from one generation to another. When one leave behind a significant number of inheritance for his/her descendants, that will constitute generational wealth. These assets in question include the following: real estate, stock market, investments, a business, or anything else that has monetary value.  

Research has clearly shown that people who inherited generational wealth often have a significant financial advantage over those who do not have any inherited wealth. They will likely have the capacity to avoid student loans as well as other kinds of debt. 

The transfer of these generational wealth or assets to beneficiaries upon the death of the owner is done via financial planning methods. And these methods often include the following wills, estate planning, life insurance, or trusts in a tax efficient way. 

M&T is an innovative team of professional and credit certified individuals who work thoroughly and diligently to improve our clients’ credit scores and financial future.

Bad credit can be affecting you more than you know. M&T Credit Services, LLC has helped our satisfied clients repair their credit and qualify for home loan. With our highly professional and methodological approach, we cut through the numbers to help get you back on the road to good credit.

Call (559) 492-8563

M&T Credit Services | Facebook

Website: https://www.mtcreditservices.com

M&T is an innovative team of professional and credit certified individuals who work thoroughly and diligently to improve our clients’ credit scores and financial future.

Bad credit can be affecting you more than you know. M&T Credit Services, LLC has helped our satisfied clients repair their credit and qualify for home loan. With our highly professional and methodological approach, we cut through the numbers to help get you back on the road to good credit.

We adhere strictly to the Credit Repair Organizations Act, which means you can relax knowing you are in reputable hands. Contact us today to find out how we can help you take that important first step in getting back into good financial standing.

Call (559) 492-8563

M&T Credit Services | Facebook

Website: https://www.mtcreditservices.com

The lack of wealth in many African-American households has left them especially vulnerable to the financial fallout from the coronavirus crisis; but the federal government has perhaps its best opportunity yet to fix these racial disparities.

Huge wealth disparities between Black and white households in America existed long before the COVID-19 pandemic and have continued during the crisis. Data show that during the pandemic, Black households faced more financial emergencies with fewer economic resources, resulting in a widening gap in economic opportunity between Black and white households.

The pandemic occurred against the backdrop of a massive Black-white wealth gap. Because households quickly needed to rely on their wealth when the pandemic hit in early 2020, the crisis also illustrated the importance of wealth for families’ financial security. Black households suffered more in the pandemic in large part because they needed more but had much less wealth than white households. Wealth, both as an emergency buffer and as a means to invest in people’s futures, became critically important.

Millions of households, especially African American and Latino households, faced unemployment and multiple health emergencies more or less from one day to the next. Yet many of these same households had few or no emergency savings to fall back on during this time. When people lost their jobs, many needed to rely on emergency savings, leaving them with less financial security as the pandemic unfolded. For example, in 2020, 46.7 percent of unemployed white households could not come up with $400 in an emergency, while 65.2 percent of unemployed Black households lacked access to $400 in such situations.

Learn more about Fresno Black investment Group

https://mkgfinancialgroup.com/capital-formation/

Fresno Black Investment Banking

https://mkgfinancialgroup.com/fresno-black-investment-banking/

At Fresno Capital Formation our definition of financial wellness calls for a mindset shift—on both individual and institutional planes. If every person is a unique collection of their own experiences, opportunities, and interests, their finances should be as well. In perpetuating the class system narrative and fighting the wealth war with one-size-fits-all planning, we are instead asking people to shoehorn their identity onto an outdated view of financial success.

Financial Wellness

https://mkgenterprisescorp-client.com/the-missing-piece-of-the-financial-inclusion-puzzle-in-blacks-and-hispanics/

Connect with us online or request a callback

https://justcall.io/call-now/b2957848

Operation Choke Point

All Americans, entrepreneurs and small businesses across our great country come from very different walks of life. They have taken great risks and share a common dream to start a company that can one day become profitable and provide for their families. While businesses face incredible hurdles before they succeed, the ones that do survive provide the foundation for our local communities.

Unfortunately, the most alarming hurdle facing businesses today is a Department of Justice initiative known as Operation Choke Point.

Created under the guise of a program to root out fraud and illegal activity, this initiative has been used by White House administration bureaucrats to pressure banks to end relationships with businesses they consider to be objectionable or "high risk." The House Financial Services Committee, the House Oversight and Government Reform Committee and the House Judiciary have held hearings on this out-of-control program. Peter Weinstock, a partner at a Dallas law firm whose practice focuses on corporate and regulatory representation of financial institutions, testified before the House Judiciary Committee on July 17, 2014:

"The U.S. Department of Justice created Operation Choke Point ostensibly to combat consumer fraud. However, it has become apparent that the program instead seeks to eradicate disfavored businesses."

This administration has targeted small businesses such as firearm and ammunition dealers, cigar shops, fireworks retailers, pawn stores, payday lenders and others. This backdoor effort by this administration to target legitimate law-abiding businesses they do not like, and to coerce banks to choke off relationships with these businesses, is completely unacceptable.

Restore the American Dream to build the next Financial Institution

Invest in MKG Enterprises Corp on Wefunder

https://wefunder.com/mkgenterprisescorps

Another way to compare annual income for the elite one percenter club and the "bottom" 99% percent is this: Nationwide, top 1% percenters' average yearly income is a staggering twenty five and a half times the annual earnings of the bottom ninety nine percent.

The discrepancy is sharpest in New York. There, top one percenters have nearly 39 more annual income than bottom 99% percenters.

The difference between the "haves" and everyone else is smallest in West Virginia. There, top one percenters average less than 13 times the annual income of the bottom 99% percenters.

When the Biden administration looked for ways to pay for the president’s expansive social policy bill, it proposed raising revenue by cracking down on seven trillion in unpaid taxes, mostly from wealthy Americans and businesses.

To help find those funds, the administration wants banks to give the Internal Revenue Service new details on their customers and provide data for accounts with total annual deposits or withdrawals worth more than six hundred dollars. That has sparked an uproar among banks and Republican lawmakers, who say giving the I.R.S. such power would be an enormous breach of privacy and government overreach.

Banks already submit tax forms to the I.R.S. about the interest that customer accounts accrue. But the new proposal would require they share information about account balances so that the I.R.S. can see if there are large discrepancies between the income people and businesses report and what they have in the bank. The I.R.S. could audit or investigate the gaps to see if those taxpayers are evading their obligations.

Biden administration officials say the United States needs more information from taxpayers to crack down on those who do not pay what they owe. The measure, which would affect more than one-hundred  million households and millions of businesses, is estimated to capture $460 billion in additional revenue over a decade, primarily from the wealthiest Americans.

Banks say the reporting requirements would raise their costs and put them in the unenviable position of handing customer information over to the I.R.S.

Benefits of Decentralized Banking!

1. Generates Trust – A decentralized bank lowers the risk of systemic failure. 

Decentralization has led to the emergence of digital currencies that is accompanied by user- confidence. The rise in the valuation of cryptocurrencies somewhat reflects the peoples’ fading trust in central banks and the various government-planned schemes. 

Decentralized banking comes to counter this decreasing trust of the clients and attempt to rebuild the bond that people share with the banking sector.

 2. Fostering an Open Culture – Decentralisation does not come merely with an innovative technological approach. It promotes an open culture that contributes to economic development. As there are no geographical hindrances, people from all over the world can come on the same platform and work incoherence. It contributes to an open culture as people from various cultures get to meet and even exchange their ideas through the transaction process.

3. Giving People Control of their Money – It allows every user to choose the currency in which they want to invest. Some currencies are collapsing around the world mostly due to mismanagement by corrupt elites. With a decentralized bank, people get knowledge about the investment and the lending processes, thereby allowing complete control.

Together we will rebuild, educate, and advocate the importance of the principles of creating generational wealth embracing the DAO blockchain technology.

A decentralized autonomous organization is a concept for a blockchain-specific entity built and collectively owned by its members. For governance, such entities will rely on the decision-making protocols embedded in smart contracts as opposed to conventional organizations that use central leadership systems. 

Since smart contracts are impersonal, the organization can be governed by a more horizontal structure without an entrenched hierarchy. Members of the DAO can decide to have built-in treasuries that come with restricted access to approved members who fit pre-specified conditions. 

Without a centralized governing body, members of a DAO can make proposals and collectively decide on what proposals to implement through a voting system. Smart contracts can help throughout the voting process and automatically implement changes based on the votes.

Learn more about Decentralized Banking

Banking-as-a-Service Electronic Refund Deposits (ERD) up to $10K

Features Identity Theft Shield (TaxShield)

Identity Verification Powered by Artificial Intelligence

Biometric identification

Address verification

ID proofing check

Similarity check

Certified liveness check

Bureau Credit Reports and Scores

W-2 transcript and ten ninety nine transcript (Income Verification)

Remote Check Deposit

Our mission is to provide tax refund financial products primarily to customers with limited access to consumer credit from banks, thrifts, credit cards, and lenders. tax advantage IRAs, sidechains crypto payments, innovative ERC-20, BEP-20 , xDai tax refund decentralized finance smart contracts solutions and digital wallets.

How A Refund Anticipation Loan Works

Tax Refund Advances- Available 287 days from January 1st to October 15th

Our competitors only offer tax advances until February 28th and require you to visit an office in person to qualify.

We offer several lending products exclusively online and through a proprietary mobile app tailored to your financial needs during tax season.

Learn more at https://mkgtaxconsultants.com/tax-refund-advances/

Background Check Authorization and Disclosures

https://mkgtaxconsultants.com/background-check-authorization-and-disclosure/

Why are there so few black investors

Today, some of the world's most respected and successful figures are in the tech industry. They include the entrepreneurs who have developed innovative products and launched industry-changing companies and the venture capitalists who provide money and assistance to help theses companies thrive. 

But with the crypto industry and technology sector continues to flourish, and it's luminaries are seen as role models, the industry as a whole is suffering from a lack of diversity at Circle Internet Financial , Kracken, Silver Gate Bank that has undermined these institutions ability to fully realize its transformative potential. 

African-American Are Under-Represented In The Good Ol Boys Club. The venture capital industry in the US is made up of nearly all whites. How do we change the narrative.

81% of VC firms don’t have a single black investor — Black VC wants to change that

Our Principles and Values

MKG Enterprises Corp Financial Services is a diversified digital asset technology company that provides tax refund financial products primarily to customers with limited access to consumer credit from banks, thrifts, credit cards, and lenders. tax advantage IRAs, sidechains crypto payments, innovative ERC-20, BEP-20, xDai tax refund decentralized finance smart contracts solutions and digital wallets.

Website: https://mkgtaxconsultants.com/about-our-principles-and-values/

We all know DeFi has been a hot topic of 2021, maybe THE hottest topic, but is that it? Are we done with DeFi? Nope, I don’t think so, we’ve barely started.

Remember the whole crypto space is still early. The global cryptocurrency market will hit $4.94 billion by 2030, more than triple its estimated size of $1.49 billion in 2020.

Source Cited:

https://www.yahoo.com/now/cryptocurrency-market-more-treble-2030-094803219.html

DeFi is definitely here to stay. The whole decentralised space is going to continue to balloon, and as early adopters we need to make bank off it.

Why should anyone invest in crypto? There’s little doubt that digital currencies have seen remarkable growth. Spurred on by the incredible growth of bitcoin (BTC) and ether (ETH), the field of cryptocurrencies has only continued to expand.

In addition to initial coin offerings (ICOs), there are now many new types of blockchain investment products, from decentralized finance to non-fungible tokens. Many digital currency enthusiasts believe that these investments could produce a new batch of digital currency millionaires (or billionaires).

Buy Crypto with Credit Debit Card 

https://mkgtaxconsultants.com/buy-crypto/

Part of your strategy should be how you grow your crypto collateral, not just buying crypto and waiting for it to increase in value, but using it to earn you more.

Enter stage left, DeFi lending. Decentralisation allows us to be our own banks. Already we have options to make it happen, and here are four different lending options currently available. Enter Aave, Compound, Celsius and Yield.

Alongside crypto purchases, staking, geysers and more, lending out your crypto is a profitable way to increase your wealth. Here is a brief run down comparing them side by side.

HoneySwap https://honeyswap.org

1Hive is a DAO that issues and distributes a digital currency called Honey. Honey holders stake on proposals using Conviction Voting to determine how issuance is distributed. By supporting proposals that increase the value of Honey, a positive feedback loop drives growth and sustainability. Conviction Voting allows everyone to participate and shape the direction of 1Hive, while preventing anyone from taking control or ownership.

https://mkgtaxconsultants.com/coin/refund-transfer-fiat-to-crypto/

As people continue to struggle with access to affordable credit and income tax returns, given the recent changes in the tax laws with the enactment of The PATH ACT and the Global Coronavirus Pandemic MKG Tax Consultants has developed an Innovative Smart Contract DeFi Tax Advance Stable Coins DeFi Lending Solutions “CoinRT” 

CoinRT-xDai Pair

https://info.honeyswap.org/#/pair/0xe39da1dc4b25e635ffb6f68d38d53b8e759a3fb0

CoinRT-USDC Pair

https://info.honeyswap.org/#/pair/0x8dc780f2cf39052878804aa23a0c8b11a9647252

Aave. aave.com

A decentralised money market platform where lenders post collateral on the platform, allowing them to lend in the form of an aToken like Compound and their cToken, however the aToken is pegged 1:1 to the collateralised asset allowing it to be used as if it were the deposited collateral. The lender then accrues interest tied to their deposits. Two interests rates are offered, stable or variable offering more or less volatility depending on the lender’s risk tolerance and lenders can switch between the two. They also offer flash loans using pooled funds without collateral.

Whilst on the other side the borrower posts collateral by purchasing DAI. The borrower can then borrow in ETH. This allows the borrower exposure to a diverse range of cryptos without the need to own them outright.

Compound. Compound.finance

The original money market platform. Compound allows you to deposit your crypto to earn interest. They launched to a frenzy. Users rushed to deposit and earn. In return users would receive COMP for participating in the Compound ecosystem, both lenders and borrowers.

Lenders deposit assets in pools, and then receive cTokens to represent the underlying asset. Interest is based on the demand for the asset, the greater the demand. the more interest they earn, incentivising lenders to add to the pools.

Borrowers draw from the pooled funds but as the pool grows and interest increases, borrowers are deterred from over stretching themselves.

Celsius. Celsius.network

Is basically a middleman. Lenders deposit crypto, which Celsius then distributes to borrowers. The lender is then paid interest on their collateral set by Celsius (minus they’re cut). Lenders and Borrowers can earn greater interest if CEL tokens are purchased.

Yield. Yield.credit

DeFi lending with fixed guaranteed interest rates. Lending and borrowing on the platform is individualised, not pooled. Lenders earn guaranteed rates of interest, no longer having to worry about market dynamics causing the rates to trend to ~0%, while borrowers that maintain loans and repay on time earn YLD, the token native to the platform.

Now let’s look at some pros/cons of each platform:

Aave.

Pros Extensive collateral optionsInnovative DeFi products

Cons Rates are dynamic and typically trend towards ~0% 

More complex platform to understand

Compound.

Pros Easy to use platform

Cons Rates are dynamic and typically trend towards ~0% 

Limited collateral options

Celsius.

Pros 25+ collateral options 

No fees or penalties  

ConsCentralised platform

Yield.

Pros Individualised loansGuaranteed Interest rate Borrowers earn Yield for repaying loans 100% of fees used to burn YLD Extensive collateral options

Cons

Maximum loan size $50k

**Aave.**Market cap $1.4bn Circ supply 12.1m

**Compound.**Market cap $740m Circ supply 4.1m

**Celsius.**Market cap $2.2bn Circ supply 383m

**Yield.**Market cap $2.5m Circ supply 263k

Do-Your-Own-Research, No-Further-Action  and decide on the direction that works for you.

DeFi Lending Solutions 

https://coinrt.co/ico_listing/defi-solutions/

CoinRT

https://coinrt.co/ico_listing/coinrt/

CoinTrust

https://coinrt.co/ico_listing/coin-trust/

Token MKG Enterprises Corp

Contract

0xa7a293966e2463b7af7f5c6f3b660423e3a9c16b

Aave.com

Contract

0x7fc66500c84a76ad7e9c93437bfc5ac33e2ddae9

Compound.finance

Contract

0xc00e94cb662c3520282e6f5717214004a7f26888

Celsius.network

Contract

0xaaaebe6fe48e54f431b0c390cfaf0b017d09d42d

Yield.credit

Contract

0xdcb01cc464238396e213a6fdd933e36796eaff9f

PayPal touts digital wallets

In brief

CEO Dan Schulman said digital wallets could be a solution to stimulus bottlenecks.

Schulman also alluded to the promise of DeFi on the earnings call.

PayPal CEO Dan Schulman raised the possibility of using digital wallets to distribute stimulus funds rather than the current slow and expensive banking system.

Is there a better way to distribute stimulus payments? The question has come up in light of governments' efforts to hand out pandemic relief to their citizens—efforts that have often got bogged down as a result of paper checks and other outdated technology.

On Wednesday July 29, 2021, PayPal CEO Dan Schulman proposed using digital wallets to streamline these payments, a process that would not be more efficient but reduce fees for the poorest recipients.

"Imagine not having to send out stimulus checks but sending those directly into a digital wallet where you instantaneously receive it, and you don't have to go to a check cash-in location and exchange that and get charged for that exchange,

As people continue to struggle with access to affordable credit and income tax returns, given the recent changes in the tax laws with the enactment of The PATH ACT and the Global Coronavirus Pandemic, African-American entrepreneur, Marshawn Govan, developer of Innovative DeFi Tax Advance Mobile Payments "CoinRT " created a smart contract tailored to the Black and Latino community to revolutionize the tax industry in response to the novel coronavirus pandemic--banks were not lending to people of color who were struggling with access to capital even before the pandemic.

The goal is to give underprivileged and underbanked families access to consumer credit to be able to affordably finance auto loans, make a down payment on a home, investing and/or pay off debt.

We are excited to now be raising capital on Wefunder to allow retail investors to invest as little as $100 in our company to build the next financial institution which will very soon redefine the tax industry for the better.

https://wefunder.com/mkgenterprisescorps/