PhoneEthics Communications Ent.

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[PhoneEthics Communications Ent. @PhoneEthics]

@creditdirectltd @CDcheckout kindly take note!

[PhoneEthics Communications Ent. @PhoneEthics]

@creditdirectltd @CDcheckout pls be aware that i have tried the only available means which is get my customers transaction issues (debit in error) and a non reflective repayment issue resolved through your staff members going to a month now, all to no avail,

[PhoneEthics Communications Ent. @PhoneEthics]

I am utterly disappointed in the resolution method adopted by your establishment reconciling payment and debit errors. I await your swift response to this regard and my DM is widely open should you be ready to proffer quick solution.

[Instablog9ja @instablog9ja]

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[PhoneEthics Communications Ent. @PhoneEthics]

@boltapp 'm in your DM, call this retard of a driver to order cos if anything happens to these goods today it will not be easy for him.

[PhoneEthics Communications Ent. @PhoneEthics]

@boltapp 'm in your DM, call this retard of a driver to order cos if anything happens to these goods today it will not be easy for him.

[PhoneEthics Communications Ent. @PhoneEthics]

Hello good evening, please my ilera Eko policy expired sometime ago and I've been finding it difficult to renew, I'm currently in your DM. Please assist. @LagHealthScheme

[PhoneEthics Communications Ent. @PhoneEthics]

@sepril23NG I want

[Kalu Aja @FinPlanKaluAja1]

You are taxed on income earned, not on assets owned.

If you own 1 BTC, you pay no tax.

If you sell 1 BTC at a loss, no tax is due.

If you sell 1 BTC at a profit, you pay tax.

Staking BTC? Yes, income from staking is taxable.

To banks: if you have N1m in your current account earning no interest, there is no taxable income.

What if that N1m is moved to your savings account, and you earn 10%? Then you pay tax on the 10% interest earned, not on the N1m.

What if someone transfers cash to your account? This creates a transaction record. Will you pay tax? If the cash moves into your interest-bearing account, yes, on the interest earned. I believe your bank will report the interest earned to NRS.

Bonds? FGN bonds are tax-exempt, meaning interest earned is tax-free.

Insurance? Premium payments are tax-free when you purchase a policy and pay premiums.

Retirement savings account? Contributions are tax-free, growth is tax-free, and withdrawals are also tax-free.

Rent? You are entitled to a relief of 20% of the tax paid, subject to a maximum of N500,000.

Are all transfers to and from your account taxable? Tax is not solely assessed on your bank balance; authorities will review your transactions to identify taxable activities. Your transactions may be used as a basis for an assessment based on best judgement. Translation? Avoid depositing non-business checks into your account.

Stocks? Same principle:

Holding? No tax.
Selling at a profit? Pay tax on the profit.

What if it's a gift or inheritance? Generally, no tax.

My advice? Businesspersons should keep receipts and documentation, scan them, and file them. Use more cards and fewer cash transactions to create an audit trail. Hire an accountant.

Remember, it is the income generated that is taxable, not the asset itself.

[Reno Omokri @renoomokri]

Truly Rich People Hardly Buy Private Jets. But Money Miss Roads Often Do!

Wealthy people hardly buy private jets or yachts. It is not a good use of money. Only people we call in local parlance 'Money Miss Road' buy them.

Except you are buying them to rent out, it makes no financial sense, because every day, whether you are flying or not, it costs thousands of dollars just to park and maintain a jet or yacht.

Please fact-check me: It can cost between $500,000 and over $1 million to maintain a private jet annually. And I am being conservative.

Now, for someone like Aliko Dangote, who runs a global empire that can require him to be in any part of the world at a minute's notice, it would make sense to own a private jet. That is for practical purposes, not for vanity.

And if you have ever flown in a private jet, of which I first flew in Terry WAYA's private jet in 2002, you will be spatially constrained. They are not very big. You would experience far greater comfort flying First Class on a good airline.

Wise people rent the latest and best private jets or yachts wherever they need them. That is the smart thing to do.

Even Aliko Dangote, the richest Black man on Earth, does not own a house abroad. Because, except you or your family lives abroad, or you are into commercial real estate, it is a dumb thing to do.

You are paying property taxes on a property you don't use, and the house can be occupied by squatters who you can only evict through a lengthy and costly legal process.

The prudent thing to do is rent a flat, house, villa, or Château or even stay at a luxury resort or hotel when you visit a place you do not live and do not plan to live in.

The wealthiest people in Nigeria are almost all my friends. One of the wealthiest persons (in the top ten) is even related to me by marriage, and I learnt invaluable lessons visiting him and my aunt as a child.

These folks do not buy what they can comfortably rent or lease, including Rolexes, Patek Philippe, luxury cars, and designer clothes.

The rich stay wealthy by only buying assets and then leasing liabilities.

And their definition of assets and liabilities is different from yours.

For example, you see an iPhone as an asset, but to the rich, it is a liability. To you, an asset is anything that costs money, but to them, an asset is anything that is almost guaranteed to increase in value over time.

For example, an iPhone 16 will almost halve in value the day the iPhone 17 comes out, so it is a liability. However, stocks in the Magnificent Seven of the S&P 500 have consistently appreciated for the last twenty-five years (except during the #COVID19 lockdown), so they are assets.

I, for example, live off the monthly dividend from my mutual funds. That is how I maintain the jersey lifestyle I live. In the 68 years since the establishment of the S&P 500, it has consistently delivered profit, except when it is affected by a World War or a global pandemic. Outside of that, it is more consistent than a woman's period.

Therefore, they buy stocks and rent iPhones (yes, you can lease iPhones), while you purchase iPhones and do not buy stocks. Then you go to church to pray against generational curses keeping you poor, not knowing that it is generational causes that make you a pauper.

Do not see these wealthy guys in the latest cars yearly and think they buy them. No. Their practice is to purchase homes and lease cars in the cities and countries where they live. Whereas, if you look at the nouveau riche, they tend to rent houses and buy cars. Stupidity!

Cars are notorious for losing value the very second you drive them out of the dealership. Therefore, old money simply leases a vehicle for a year, and when the new version comes out, they trade their last year's lease for this year's model.

So, don't see private jet ownership as a sign of wealth. More often, it is a testament to stupidity!

Reno Omokri

Gospeller. Deep Thinker. #TableShaker.

[PhoneEthics Communications Ent. @PhoneEthics]

#NewProfilePic

[PhoneEthics Communications Ent. @PhoneEthics]

@Sterling_Bankng I'm in your DM @sterlinghelp please look into PhoneEthics 0081440062. I've been dr 3times already, i need the funds in that account already, please effect a reversal asap. I am not due for another repayment until 8th of this month. I do not want to get messy.

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[digifon @DigifonNg]

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[PhoneEthics Communications Ent. @PhoneEthics]

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[Infinix Nigeria @InfinixNigeria]

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[PhoneEthics Communications Ent. @PhoneEthics]

Good Friyay!

[Xiaomi Nigeria @XiaomiNigeria]

Happy Easter from Xiaomi! 🎉 Make this holiday special with the gift of innovation. Surprise your loved ones with our amazing devices, because the joy of Easter is best shared with the latest tech! .🎁

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[itel @itelNigeria]

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[PhoneEthics Communications Ent. @PhoneEthics]

@EKEDP I have been calling him since Sunday and he's not picking up. Please ask him to complete his job or pay him if you're owing him as he's getting on my nerves. He won't activate the meters so light can enter 5 apartments because of tip. @EKEDP @IkejaElectric

[itel @itelNigeria]

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