The most expensive advice you’ll ever get is free advice.
Case in point, just look at Facebook these days. There are conspiracy theories and pro and anti-stories just about anything. And they have the videos to prove it!
Social media can be used to build a business. Or it can destroy your peace of mind. And it can also hit you in your pocket book if you’re not careful.
I Broke the Law and You Can Too!
This past week, a lady posted that she had received her EIDL money and was going to use it to remodel her home.
Let’s look at that statement. EIDL (Economic Injury Disaster Loan) is a low-cost loan that your business can apply for if it was damaged in the pandemic. According to the terms of the loan there are very specific things that you can and can’t do with the money. The money must be used for your business. It can’t be used to pay off other debt and it can’t be used to give the owner a bonus, a raise or additional cash for pet personal projects.
What she said she was going to do was clearly in complete defiance of what she had agreed to do when she took the money.
And she wouldn’t take “no” for an answer. She told others that they were fools not to do the same thing.
I hope no one takes her advice because it is fraud. Depending on the amount, it could even rise to the level of a criminal charge.
Don’t believe everything you read on Facebook. And for goodness sakes, don’t take important advice from strangers.
Who Can You Trust?
That’s one reason why I have my group Diane Kennedy’s US Tax Group. I make sure the advice given is sound, and legal based on the actual law.
We have business owners and investors of all types there. We talk about new tax law, asset protection strategies and conjecture together about what we think is going to happen next. And, more importantly, how to get ready for it.
If you’re not yet a member, please go to the Facebook group Diane Kennedy’s US Tax Group
If You Want to Be Happy Don’t Argue With Fools
The man came to the guru and asked, “What is the secret of happiness?”
The guru responded, “Never argue with fools.”
The man immediately retorted, “No! That’s not right.”
The guru looked at him calmly and said, “Yes, you’re right.”
Stay safe and sane out there. It’s a crazy world right now.