@loubby_ai It is quite a privilege for me to have been part of this amazing cohort.
I never thought automation could be this interesting until I joined this bootcamp (funny thing was that I registered reluctantly).
Shout-out to the founder of @loubby_ai and my amazing mentors π
Whatever you do, don't open a bank account in your own name.
I didn't know this until my dad stopped me the day I got my first paycheck.
I'd done everything right. Got paid. Went to the bank, opened a savings account in my name, and deposited the whole thing.
My Boss looked at me and said, βYou just put a target on your back.β
Then I had no idea what he meant.
He explained that the moment your money sits in your name, it's exposed.
Creditors can see it. Lawyers can find it. Anybody with a judgment against you can freeze it and take it completely legally.
So here's what he told me to do:
Step 1. Go to the IRS and apply for an EIN.
A tax ID number, but for a trust instead of a person.
Step 2. Select a revocable trust as your entity type. List yourself as both the grantor and trustee. It gives you full control of everything.
Step 3.
Take that EIN to any bank and open an account under that trust name, not yours.
The money is still yours. You spend it, move it, and invest it however you want. But on paper, it's not attached to you.
If someone sues you, they can't touch what they can't see.
This is the system intelligent billionaires have always used.
Own nothing on paper, control everything in reality.
1/10
Most Nigerians donβt know how much tax they should actually be paying.
And honestlyβ¦
Tax calculations in Nigeria are confusing.
So I built something to fix that.
Meet Ledgerly π