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HOT TOPIC Income Store Site Partners Investors Group (CLOSED)

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GraceLoveJoy

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Dec 22, 2019
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Fellow multiple Income Store contracts Site Partner here.

Pending recent developments, I've connected with the investors I know starting an invite-only group for current site partners only, so we can collectively help each other maximize our individual investor interests on the investments.

Contact me at futuresque7@gmail.com for details.
 

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studio276

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Fellow multiple Income Store contracts holder here.

Pending recent developments, I've connected with the investors I know starting an invite-only group for current investors only, so we can collectively help each other maximize our individual interests on the investments.

Contact me at futuresque7@gmail.com for details.


Can you share what are the most recent developments?
 

MJ DeMarco

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this group is not for you.

But you're using the forum to solicit for your group?

Looks like you have no interest in the forum other than what you can network from it.

Sorry but that's not why this place exists.
 

GraceLoveJoy

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Dec 22, 2019
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But you're using the forum to solicit for your group?

Looks like you have no interest in the forum other than what you can network from it.

Sorry but that's not why this place exists.
Im using the forum to connect with a very specific subset of individuals as clearly stated and I'm very grateful for having this opportunity to voice a way for us to connect. The situation is such that I am not allowed to disclose information other than to insiders.

The group was explicitly announced for insiders only and it's serving us to connect when no other forum has been able to. I appreciate you for creating this platform. If I've violated your platform rules in any way, please let me know and I'll be happy to correct that immediately.

I should add...by group I meant thread...I'm new to your forum...I would also hardly call it soliciting, but I understand why there's a perception for that.
 
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MJ DeMarco

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Im using the forum to connect with a very specific subset of individuals as clearly stated and I'm very grateful for having this opportunity to voice a way for us to connect. The situation is such that I am not allowed to disclose information other than to insiders.

The group was explicitly announced for insiders only and it's serving us to connect when no other forum has been able to. I appreciate you for creating this platform. If I've violated your platform rules in any way, please let me know and I'll be happy to correct that immediately.

I should add...by group I meant thread...I'm new to your forum...I would also hardly call it soliciting, but I understand why there's a perception for that.

Just to be clear, this involves current, past, or potential future grievances with IS?
 

mikejody

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Dec 24, 2019
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Fellow multiple Income Store contracts Site Partner here.

Pending recent developments, I've connected with the investors I know starting an invite-only group for current investors only, so we can collectively help each other maximize our individual interests on the investments.

Contact me at futuresque7@gmail.com for details.

Greetings,

My CPA recommended Income Store to me about a month ago, as a way to increase income and reduce taxes. The following is simply my story with them. I am not aggravated or upset in any way, simply sharing my experience in hopes of benefiting (warning) anyone else. I wrote the following to the Income Store "Contact Us" page:

Interesting Way To Do Business

Greetings,

We became interested in The Income Store when talking with our CPA who is part of the Wealthability network. We used your online scheduling system and set up a call for 12/10/2019. That call went great, and we asked what our next steps were, and were informed that we should next speak with Bill Courtright, and the call was scheduled for 12/11/2019.

On December 11, we received the below email informing us that Bill’s schedule had changed and that we would be contacted in the future to reschedule, to which I replied that I understood and looked forward to rescheduling as able.

Email from Chelsea Connor at the Income Store:

"Good Morning Mike & Jody,

I hope this email finds you well. I am reaching out to you on behalf of Bill Courtright in regards to your follow up call scheduled for today 12/11 at 11AM EST. Bill is traveling today and his flight times have changed and he will not be able to take the call. Our sincere apologies for the last minute cancellation and inconvenience. I will be in touch to reschedule.

Thank you in advance for your understanding."


Later the same day I emailed back and asked when we could expect the rescheduling. That email was not answered.

Several days later, when I had received no response, I emailed in again asking to reschedule. That email was not answered.

When I had gone all of last week with no reply and no rescheduling, I went back to your online scheduling system and set up a call for today at 9:00 AM Pacific. That appointment was not kept, nobody called me at 9:00 AM.

I have been trying to decide between The Income Store and your competition. I am an airline pilot planning my retirement, and my CPA had referred me to you, so I was ready to move forward. Since I have heard nothing from you, and appointments were not kept, nor rescheduled, I have decided to go with your competition, and made a full investment with them today.

I am not upset, I’m only writing to show where your company may have holes or weak spots that you might want to address.

Thank you."

Update as of December 24: None of the above communication was responded to in any way.

Again, I am not embittered or upset, merely wanting to share my story to help anyone considering doing business with the Income Store.
 

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ilostmyass

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Dec 26, 2019
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I'm one of the suckers as well. I put in a lot, way too much. After four months I didn't have a site. At a year Ken called me to apologize and asked if he could have four more months to build up a Shopify store and in return, he would raise my guarantee starting in December. From the contract, money was supposed to be kept separate. Obviously that didn't happen. The desire for easy passive income blinded me of the truth, I didn't want to admit that as soon as they got my money I was going to get screwed. I thought that as long as I got an asset then the risk would be minimized. I still don't have an asset and my business partner and I are looking at a loss of 250k. This is the kind of money that ruins a retirement or changes life plans significantly. I hope these mother/@#$s end up jail!
 

mikejody

New Contributor
Dec 24, 2019
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I'm one of the suckers as well. I put in a lot, way too much. After four months I didn't have a site. At a year Ken called me to apologize and asked if he could have four more months to build up a Shopify store and in return, he would raise my guarantee starting in December. From the contract, money was supposed to be kept separate. Obviously that didn't happen. The desire for easy passive income blinded me of the truth, I didn't want to admit that as soon as they got my money I was going to get screwed. I thought that as long as I got an asset then the risk would be minimized. I still don't have an asset and my business partner and I are looking at a loss of 250k. This is the kind of money that ruins a retirement or changes life plans significantly. I hope these mother/@#$s end up jail!
I'm so sorry to hear this! Possibly they will make it right to you afterall.

This makes me thankful I never put a dime in with them, but am so sorry you did. Hopefully they can make it work for you.
 

biophase

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My CPA recommended Income Store to me about a month ago, as a way to increase income and reduce taxes.

The Income Store when talking with our CPA who is part of the Wealthability network.

The first statement makes no sense. Increase income and reduce taxes? I don't quite see how an ecommerce store could do both at the same time.

The second statement makes me wonder if your CPA gets a kick back (affiliate commission) from signing someone up at the income store.
 

mikejody

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Dec 24, 2019
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The first statement makes no sense. Increase income and reduce taxes? I don't quite see how an ecommerce store could do both at the same time.

The second statement makes me wonder if your CPA gets a kick back (affiliate commission) from signing someone up at the income store.
An investment in the Income Store was so that they would build an e-commerce site (using Shopify) that would bring in a minimum amount of income monthly (thereby increasing our income), and the business itself comes with tax benefits (intangible assets). You can see this on the homepage of the Income Store by watching Tom Wheelwright's tax video.

So, pretty simple, increase income and reduce taxes. Not sure why this is difficult to understand, and I'm sure it worked well before they got swamped with investors and just couldn't meet the demand.
 

GraceLoveJoy

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Dec 22, 2019
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The first statement makes no sense. Increase income and reduce taxes? I don't quite see how an ecommerce store could do both at the same time.

The second statement makes me wonder if your CPA gets a kick back (affiliate commission) from signing someone up at the income store.
@biophase , just because this does not make sense to you, does not mean it's true. Everyone's tax situation is individual and personal, and that's why having a good CPA is important if your goal is to increase income and reduce taxes.
 

JasonR

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I know someone who has invested with IS, and they are not happy with their investment and have advised me to stay away.

@GraceLoveJoy - your post definitely smells of solicitation, and I don't think you'll find this forum a good place to do so. This forum has a way of sniffing out imposters, solicitors, and other bad actors.
 

GraceLoveJoy

New Contributor
Dec 22, 2019
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I know someone who has invested with IS, and they are not happy with their investment and have advised me to stay away.

@GraceLoveJoy - your post definitely smells of solicitation, and I don't think you'll find this forum a good place to do so. This forum has a way of sniffing out imposters, solicitors, and other bad actors.
@JasonR you're welcome to assume as you wish. If you read my post carefully, you will see the very specific subset of people I'm reaching out to.

As stated, I'm only going to discuss any questions or doubts in private with a forum moderator / owner if needed.
 

CareCPA

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@biophase , just because this does not make sense to you, does not mean it's true. Everyone's tax situation is individual and personal, and that's why having a good CPA is important if your goal is to increase income and reduce taxes.
I spent way too long watching that video.
What he does is he says part of the purchase is for the URL and that a large portion is for services or for software. If it's software, you can take accelerated depreciation. If it's for services you can deduct in the current year.
I've had this discussion with other very experienced accountants. I'd be very careful about how you handle this.

And, since I assume this thread is going to show up in a lawsuit at some point, let me add the disclaimer that this post is not tax advice, and you should consult with your own team of experts, including a CPA and/or lawyer if necessary.
 

Nick M.

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Perhaps what you're doing, @GraceLoveJoy, is entirely legitimate, but I see many red flags:
  • Brand new account
  • "Email me" (which is fishing behavior like PM me)
  • Posts only in this thread and the income store thread
  • Little information posted
  • Soliciting emails for an "invite-only" group
  • Email doesn't match your username, and it is a generic Gmail
  • Income Store is B2C based on marketing materials (most serious forum members are business owners)
  • Unwillingness to disclose any information publically
  • Fending off anyone who "doesn't read the initial message carefully." Who is your offer even for?
  • Reframing terminology (e.g., "I would also hardly call it soliciting")
  • Everyone is staying anonymous (you only connect with people online)
  • Very low likes-to-post ratio
And that there is already a lot of skepticism of the Income Store on this forum:

Like I said, perhaps this is legit. But there is a lot of overlap with scamming and fishing behavior. There are also many parallels with MLM behavior. That may not be your goal, but that's the vibe you're giving.

I suspect if you're going to want anyone to send you a serious email, you're going to have to eliminate all or most of these red flags. You might get bot emails or messages from people with very low scam filters, but those probably won't help you.

Instead, try doing this to develop real connections on the forum:
  1. Add value to the forum
  2. Create a new thread asking how to create the relationships you need
With just a little bit of detail about the kind of people you're looking for and your end goal, I'm sure many people here would give you good advice.

This forum is not for soliciting relationships. It's for building them and adding value.
 

GraceLoveJoy

New Contributor
Dec 22, 2019
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I spent way too long watching that video.
What he does is he says part of the purchase is for the URL and that a large portion is for services or for software. If it's software, you can take accelerated depreciation. If it's for services you can deduct in the current year.
I've had this discussion with other very experienced accountants. I'd be very careful about how you handle this.

And, since I assume this thread is going to show up in a lawsuit at some point, let me add the disclaimer that this post is not tax advice, and you should consult with your own team of experts, including a CPA and/or lawyer if necessary.
@CareCPA good point.. I thought of the depreciation as an option, but there are nuances with that. Thanks for the clarification.

There are other ways beyond depreciation to save on taxes though. If you have a location-independent lifestyle due to income from similar assets, assuming they deliver.. , then that opens some options for tax savings too.
 

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GraceLoveJoy

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Dec 22, 2019
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Perhaps what you're doing, @GraceLoveJoy, is entirely legitimate, but I see many red flags:
  • Brand new account
  • "Email me" (which is fishing behavior like PM me)
  • Posts only in this thread and the income store thread
  • Little information posted
  • Soliciting emails for an "invite-only" group
  • Email doesn't match your username, and it is a generic Gmail
  • Income Store is B2C based on marketing materials (most serious forum members are business owners)
  • Unwillingness to disclose any information publically
  • Fending off anyone who "doesn't read the initial message carefully." Who is your offer even for?
  • Reframing terminology (e.g., "I would also hardly call it soliciting")
  • Everyone is staying anonymous (you only connect with people online)
  • Very low likes-to-post ratio
And that there is already a lot of skepticism of the Income Store on this forum:

Like I said, perhaps this is legit. But there is a lot of overlap with scamming and fishing behavior. There are also many parallels with MLM behavior. That may not be your goal, but that's the vibe you're giving.

I suspect if you're going to want anyone to send you a serious email, you're going to have to eliminate all or most of these red flags. You might get bot emails or messages from people with very low scam filters, but those probably won't help you.

Instead, try doing this to develop real connections on the forum:
  1. Add value to the forum
  2. Create a new thread asking how to create the relationships you need
With just a little bit of detail about the kind of people you're looking for and your end goal, I'm sure many people here would give you good advice.

This forum is not for soliciting relationships. It's for building them and adding value.
@Nick M. Thank you for the exhaustive list of reasons on why I'm getting so much heat here (I mean it)
If I were you I see now why I would think the same.
I'm not a regular forum user and found it only searching for specific information.
I'm actually a business owner who's been too busy running a business to see the value of forums like this before.
I'm OBVIOUSLY here with a very specific goal on this thread, and it is not to solicit or sell anything.
If you were a part of the group of people who've found this thread extremely useful, you wouldn't question that, but since you seem to not be, I can't share more details with you here. However, I am more than happy to discuss more details with the forum owner if he wants to reach out.
I look forward to having a chance to look around in the forum and connect with others here when I'm thru with my current project.Judging by the responses I've received here, it seems to be a legit place free of marketing, MLMs, and other annoying BS, which is refreshing.
 

biophase

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@biophase , just because this does not make sense to you, does not mean it's true. Everyone's tax situation is individual and personal, and that's why having a good CPA is important if your goal is to increase income and reduce taxes.

I understand in theory what the CPA probably means. But it still doesn't make sense. Buy this asset for $100k, now you can write off the $100k (some of it all at once and the rest you depreciate/amortize), then make $30k a year from the asset.

Income goes up by $30k a year, write off a bunch of that $100k, taxes go down, pay taxes on the $30k, taxes go up.

In the video he's also talking about now you can move some things over from personal expenses to business expenses like home office, internet, car maybe, etc...

But the net net of all this is that if you BUY a business that MAKES money, those tiny deductions aren't going to lower your taxes. This only works if the business you buy (like IS) doesn't put off any money right away, which is what it sounds like is happening and not in a good way.

I watched the video and do understand everything that he is talking about, but damn, this is not the way to invest your money just for tax breaks. I still think that this is horrible CPA advice.

Let's say I was making $300k a year and tired of pay $100k in taxes.

Do I spend $100k on a business that doesn't make any money so that I can write off $30k in expenses and pay $90k in taxes? Or do I spend $100k on a business that makes $30k and pay $110k in taxes?

My CPA once told me, don't do anything only for the sake of lowering your taxes that takes earned money out of your pocket.
 

biophase

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Thank you for the exhaustive list of reasons on why I'm getting so much heat here (I mean it)
If I were you I see now why I would think the same.

Grace, I don't think you are trying to sell anything here. I think that you are trying to get a group of IS people together so that you can compare notes, form a group, etc... to probably bring upon some kind of action towards IS later on. I have no problem with that.

I personally think the IS was a scam from the start. But this other angle of increasing income and reducing taxes and hearing that CPA's are recommending IS as a vehicle is just another added level of scamminess.
 

GraceLoveJoy

New Contributor
Dec 22, 2019
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@biophase I have to agree with your CPAs suggestion that as a general rule you always want to optimize for increasing income as opposed to focusing on reducing taxes only without increasing income.

From my years of experience in business and through working with several CPAs I've come to learn there are ways to do both at the same time, especially if you have the option and flexibility to choose where you live, or have multiple businesses structured with a holding company, or create a pension plan for employees including yourself..

If you're starting with your first business from the ground up, then I wouldn't worry about taxes at all and focus on growing your revenues and income only. Once you reach a point where high taxes become a concern, then you have a high quality problem on your hands to solve :)
 

mohammedali

New Contributor
Dec 30, 2019
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Hi everyone,

I'm new to the Forum. I'm an investor with IncomeStore and have 2 investments with them and am very worried about the future.

I have tried arranging calls with them but am only speaking with the gatekeeper and noone senior is calling me back.

Has anyone had any luck with talking to someone that can actually properly answer questions about their investments?

Look forward to hearing from you.

Mohammed
 

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Greetings,

My CPA recommended Income Store to me about a month ago, as a way to increase income and reduce taxes. The following is simply my story with them. I am not aggravated or upset in any way, simply sharing my experience in hopes of benefiting (warning) anyone else. I wrote the following to the Income Store "Contact Us" page:

Interesting Way To Do Business

Greetings,

We became interested in The Income Store when talking with our CPA who is part of the Wealthability network. We used your online scheduling system and set up a call for 12/10/2019. That call went great, and we asked what our next steps were, and were informed that we should next speak with Bill Courtright, and the call was scheduled for 12/11/2019.

On December 11, we received the below email informing us that Bill’s schedule had changed and that we would be contacted in the future to reschedule, to which I replied that I understood and looked forward to rescheduling as able.

Email from Chelsea Connor at the Income Store:

"Good Morning Mike & Jody,

I hope this email finds you well. I am reaching out to you on behalf of Bill Courtright in regards to your follow up call scheduled for today 12/11 at 11AM EST. Bill is traveling today and his flight times have changed and he will not be able to take the call. Our sincere apologies for the last minute cancellation and inconvenience. I will be in touch to reschedule.

Thank you in advance for your understanding."


Later the same day I emailed back and asked when we could expect the rescheduling. That email was not answered.

Several days later, when I had received no response, I emailed in again asking to reschedule. That email was not answered.

When I had gone all of last week with no reply and no rescheduling, I went back to your online scheduling system and set up a call for today at 9:00 AM Pacific. That appointment was not kept, nobody called me at 9:00 AM.

I have been trying to decide between The Income Store and your competition. I am an airline pilot planning my retirement, and my CPA had referred me to you, so I was ready to move forward. Since I have heard nothing from you, and appointments were not kept, nor rescheduled, I have decided to go with your competition, and made a full investment with them today.

I am not upset, I’m only writing to show where your company may have holes or weak spots that you might want to address.

Thank you."

Update as of December 24: None of the above communication was responded to in any way.

Again, I am not embittered or upset, merely wanting to share my story to help anyone considering doing business with the Income Store.

Time to fire your CPA?
 

MJ DeMarco

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LOL, "Hey man, spend one buck so you can save 33 cents later!"

And just think, a CPA is giving this advice.

My guess is someone got a kick back on this sham "selling point."
 

GraceLoveJoy

New Contributor
Dec 22, 2019
19
11
14
Hi everyone,

I'm new to the Forum. I'm an investor with IncomeStore and have 2 investments with them and am very worried about the future.

I have tried arranging calls with them but am only speaking with the gatekeeper and noone senior is calling me back.

Has anyone had any luck with talking to someone that can actually properly answer questions about their investments?

Look forward to hearing from you.

Mohammed
@mohammedali check your private messages. I have some answers.
 
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