Hey, Bolo buddies. Thanks for watching. All right, you guys Let's talk about some big money Bolo's items to be on the lookout for items you can buy low and sell high My name is Courtney. I am your featured seller and I am gonna tell you where I got the item What I paid for it and what it sold for I picked these items up at thrift stores garage sales estate sales YouTube selling events or auctions and Facebook marketplace those are the main places that I source so we're gonna get started here And I'm gonna tell you about these Bolo items the first one is awesome and It's just awesome. It's got a cute little story behind it. So we'll talk about that first You get my screen share up here and we are ready to go So these items Come from different places as I said, I built I can't remember where this one came from it may have been a mystery box So I went out to my garage and I dug through like some totes You guys I have a money pile mountains and mountains of stuff that I need to list So this was either a garage store garage sale not a garage store a garage sale or a mystery box and This little guy was in a bag of stuff And I dropped the bag on the floor and I actually broke an item and somehow This little item was not hurt. Thank goodness, right because number one It's darling and number two is sold for $75 the buyer was all in for $89 and 14 cents This is a Holt Howard you guys. It's made in Japan. It's an elf figurine. It's MCM It was not marked Holt Howard, but was able to look it up Actually, I was listing this during a live show and Rachel Strickland sent me an Instagram message showing me I think she used Google lens or something to find it and she found it and it was Holt Howard And I was like, I think I know that brand like I knew it was familiar to me But I don't think I've ever sold it before but it had the Japan sticker So I was excited just because of the Japan sticker. I typically will do Tape measure in my photos to show the height and the width That's just what I do. It's much easier for me than writing everything in the description So look at the cute little face super super cute and again took a bit I'm sorry. This sold for full asking price and it sold really really fast. So The next item and Rachel Strickland has a YouTube channel you guys it is her name. She is a reseller So go check her out. All right this vintage Halloween articulated arched black cat It is a die cut and this one came from a thrift store And I sold it for thirty six dollars the buyer was all in for forty six dollars and forty four cents So a lot of times these will be signed or marked with a brand. This one was not Again tape measure to show measurements and this one is articulated, which means that it moves So pretty cool little cat there. Wonder what it if it would do anything under a black light Huh? Maybe maybe not All right, the next item I sold I picked this up at a garage sale for a buck And it did take a while to sell I don't know if my keywords were really great or maybe my question marks and the title were scaring people off But I ended up selling it for a Best offer of 45 Super super cool bracelet It was marked EGE 89. I don't know what EGE stands for and the buyer with shipping and tax was all in for 5321 this next item I absolutely love it and I actually feel like it should have sold for more because it's so cool It's a vintage empty Barden bar DN drug pharmacy pill bottle. It is empty you guys, but the coolest part The doctor's name is Doctor love how cool is that? And it's I think it says 1554 So this is super super old I did wipe it down a little more before I shipped it because it was a little bit dirty and when I took the picture I just had listed it as I had gotten it. I got this in a dibble box and a dibble box is a Dibble bit of this and a dibble box little Let me try again a dibble bit of this and a dibble bit of that and it's basically a reseller box you guys So this came out of I think it was either a hundred or a hundred and ten dollars I Can't remember which dibble box this was in but I do have unboxings on my channel if you want to check them out Basically, what I do is I get the box I unbox it. I list everything Show you guys how I listed it so it's still educational. It's not just an unboxing I tell you what I expect to make on the box I got this from Donatella Bottolino her YouTube channel is her name It is linked down below if you're looking for inventory her and auctions for you have great reseller inventory I buy from both of them. I've been buying from them for a couple years. So It's a great way to source from the comfort of your couch. So check them out and This item was long tail. It did take a while to sell I had to find the person that was looking for this but that doctor love is just so so cool so Most of these items were cross posted to Mercari and poshmark those are my other two main platforms If you're interested in seeing items that I sold on those platforms, I also show those What sold videos I separate them because some people don't really want to see them all mixed into one video And I do hard goods on poshmark and mercari so you can check out those videos as well I use this perfectly to cross post. It's an extension and I cross post in bulk I have a video down below that shows you how I do it. It's so much quicker than manually doing it. It um If you want to try it after you watch the video, you can get 30 off your first month with coupon referral code Bolo buddies all one word. So these little plates I picked up at an estate sale for six dollars Their pottery barn anytime. I see pottery barn. I usually look it up. It's a nice brand It usually has a decent sell-through rate And I ended up taking a best offer of 40 dollars on these and the buyer was all in for 58 25 I if you guys watch me, you know, I'm not much into breakables, but for something like this I went ahead and picked it up The next item is my husband's he I don't know where he got this He just handed it to me and he's like this has been sitting in my office and I'm like you should definitely list that that is awesome Um, it's vintage. It's from 1991. It's a metallica brooch snake pin And he sold this for 50 dollars on best offer And the buyer was all in for 58 68 and he had like a buck or two in this The next item is this sleeping santa. Again, I have a video down here that shows how this guy works He is super super cool And I sold this for 72 dollars. The buyer was all in for 102 93. This did sell in january after christmas um Got this for five dollars at a thrift store The next item I sold is this putz house. Okay, so these are cardboard paper putz They are made in japan. Let me show you the marking on the bottom. This is what you're looking for There are repops of these you want to make sure you have the old ones that are made in japan and they will do pretty well Some of them can go for crazy money This one ended up selling for 43 and 20 cents the buyer was all in for 53 78 and I got this at an estate sale for a book The next item I sold is this buyer's choice christmas caroller. This came from my When I was doing that live show all that stuff that's been sitting in my garage This sold for 62 and 50 cents uh best offer the buyer was all in for 78 20 And this came out of a christmas mystery box from the thrift store I could not find this exact one. It did have a little bit of damage But um overall pretty cool item now there are knockoffs of these so if you see a caroller That looks similar to this make sure you look at the bottom and make sure it says buyer's choice Those are the ones that are going to go for more money The next item that sold is this hand carved noah's ark and I picked this up at a thrift store for a couple bucks I sold it on best offer for 40 dollars. The buyer was all in for 59 dollars and 61 cents So I do feel like I could have gotten more for this but a couple of the this see the little I think it's a camel His foot's broke and there was another one that had a broken foot So this offer came in really fast. So I just decided to take it because I didn't want to sit on it for a long time Maybe I shouldn't have maybe I should have waited. Let me know what you guys think on the noah's ark The next item I sold is this vintage santa And a lot of these items are all from that same night when I pulled all of this stuff out of my garage And they've just been selling like crazy all of them after christmas too. It's crazy This is a gourd you guys um, it's a dried out gourd that has been um turned into a santa and I ended up selling this for a best offer of 40 dollars and the buyer was all in for 55 63 and that came out of a christmas mystery box This one also came from donatella bottolino I talked about her earlier. This came in a mystery box that I purchased from her And it was a hundred dollar mystery box. I sold this item And also you guys the black tag. Do you see how it says barbie? Look for that those items typically do well So somebody bundled this and they bundled this item that I got in a mystery box from auctions for you So it's funny because they're auction partners they go on each other's channels they go back and forth and um, they partner up on youtube and have selling events And this person bought something from each box like one was from donna and one was from tea So pretty cool. The buyer was all in for 69 dollars and 30 cents for both of these items And the total all in with tax shipping taxes and shipping was 74 30 so, um This is a big money item. This is a bread and butter, but uh, look how cute these are you guys they flip Huh, isn't that fun? So I'm guessing somebody could probably put prescriptions in those and then like a kid Put their prescriptions and then they could have like sunglasses and glasses all in one Huh, I probably could have like advertised that better The next item is this vintage germany 11 piece german porcelain miniature Um, it's a spice set basically you guys and they've got little lids on them super super cute I got this at a thrift store for eight bucks. They did take a while to sell sold them for 45 on best offer The buyer was all in for 60 50 The next item also came out of a mystery box Um, I think it was in a christmas mystery box if I remember correctly, which doesn't really make any sense sometimes things get thrown in that aren't really Uh themed correctly Uh, but this one sold best offer 44 dollars and the buyer was all in for 64 28. It is a vernin wear tickled pink butter dish It's an mcm mid-century modern piece. It's really cool. Let me show you what the bottom looks like here Maybe I'll find it Here we go Right there pretty cool, right dishwasher and oven proof Because everybody wants to put their butter in an oven, right? So there's the measurements The next item I sold is this vintage muppet babies 1989 castle This came out of a mystery toy box that I purchased from auctions for you And I ended up selling this for 60 dollars on best offer. The buyer was all in for 8207 and This did have some missing pieces. It had some damage And it still sold for 60 dollars you guys if you can find this thing in Mint condition it had some fading. So the condition was I would say I don't want to say poor Um, but it wasn't in great condition and it still was a bolo So these old toys and that and I knew when I um Was getting this mystery box. She had gotten a um storage unit full of vintage toys but a lot of them were just loose And not very well taken care of but I know the value of that stuff. So I was like make me a box and um This was in the second box that I got from her I'm not sure if she still has anything left from that unit or not But um, I bought two boxes hundred dollar boxes and the unboxings are on my channel and they are so awesome Because I didn't know what half the stuff was because they were old vintage toys You know loose toys that I had to use google lens for so if you want to get an education Oh my goodness. I was so educated by doing those unboxings So go check out those videos You will definitely learn if you don't come back and let me know I will be shocked because these were great boxes And it also shows you that things do not have to be in mint condition to still flip for a nice profit So I knew I was I knew what I was getting with those boxes that they were going to be a little bit dirty and Some damage and stuff like that but if you go look and see what I made on them Unbelievable unbelievable. I'm still like wow. I should have like bought like 10 boxes Okay, these woodsies they are um, if you guys have heard of calico critters I don't want to say these are the knockoff. Um but Calico critters are more sought after this would be the target brand from what I understand They are very similar, but they do look different. They're kind of a flocked toy I will pick up woodsies. I do prefer calico critters. They sell for more but this had all of these little accessories And the calico critters are um, you can find them vintage where these are newer. So I hope that makes sense But I got these at a garage. So you guys for a buck the whole set for a buck And I sold it for 40 dollars on best offer and the buyer was all in for 56 54 The next item is this jone rivers brooch and I picked this up because I just thought it was really cool It was actually pretty heavy and really nice quality. It is marked jone rivers on the inside This is what it looks like and she has a crystal critters collection. So they're bugs I also have a dragonfly listed that hasn't sold yet But I got this at a thrift store for a buck and I sold it for 60 dollars. The buyer was all in for 69 dollars and 49 cents The next item is this dollhouse set. It's a bedroom set. I got this at an estate. So I did pay up a little for it I paid 10 dollars for it, but it was new old stock Um in the original box I did put used because um the box had been opened and I wasn't sure if maybe they set it out and then put it away So I was just safe and put used Um, I put marking pre-owned because I'm not sure I just feel like it's sometimes better to be safe than have somebody complain I ended up taking a best offer of 65 on this and the buyer was all in for 8809 and again that was an estate sale Here is another Noah's arc set set Um I love picking up nativity set. I also like picking up Noah's arc I feel like there's always somebody looking for those things. They're collectible and I think probably a lot of people put these maybe in kids rooms or they give them to their kids to reenact the story and I don't know. They're just really cute But this one also may be handmade I sold this one for 69 dollars. The buyer was all in for 98 16 and I got that actually at the Goodwill for six bucks The next item is this vintage signed crown trafari bamboo look hinged bracelet All right, you guys, let me show you right here. Do you see the little crown on top of the tea? That means that it is crown trifari and not just trifari. This is a vintage piece I got this at a garage sale. I'm sorry garage sale for 50 cents And I ended up taking a best offer of 65 dollars and the buyer was all in for 76 dollars and 43 cents The next item are these Dan Barry mint war ponies. So I've got this one and this one And I still have one left I believe I paid seven each, but I am not sure I kind of bundled them. So They were at a garage sale and it was a great garage sale But somebody offered me 144 for both and they were all in for 178 dollars and 18 cents And I did have the original boxes with these. I don't know if I showed it or not. Yeah, so here's the original box and all the COA COO certificate of ownership was also attached It's usually COA This was a retail arbitrage when sears was going out of business. I can't remember what I paid for it It did take a long time to sell I had to kind of wait on everybody else to sell theirs because the market was flooded because sears was closing I ended up selling this best offer of 70 dollars and the buyer was all in for 81 65 The next item is this calico critters plush. I got this at a garage sale I bought all of the plush at the garage sale. This one was a huge surprise. I looked it up I couldn't find any comps. I actually listed this on my live working hangout If you are not subscribed to my reseller testing volo products definitely sub over there and come hang out when I do live shows super fun I list stuff that I have no clue about I look up solds Show you guys how I comp items and then I show you how I draft it So the link is down below in the description, but this cat you guys If you watch the live show, you know, I knew nothing about it And I sold this for 90 dollars you guys 90 dollars for a plush My cost of goods was probably a dollar or less. Maybe 50 cents. Maybe a quarter. I got so many plush It was like a bulk buy at this garage sale. They had so many plush and they were so good So super super excited about this sale The buyer was all in for 101 dollars and 60 cents The next item also came from that same lot. Um, probably 50 cents Less than a dollar in it sold it for 49 99 the buyer was all in for 56 24 This is by curtoe toy And it's holding a guitar and the guitar is marked martin, which is um A guitar company. So it's a good advertising piece and I probably could have got more for this I probably should have done a buy it now or started my auction hire The next item is this vintage made in japan salt and pepper shaker And also it's got a little mustard condiment thing. So this opens up and holds mustard And it was funny because during the live show, I was like, what what does this hold? And we concluded that it's mustard. So salt pepper and mustard Uh, took a best offer of 40 dollars on this the buyer was all in for 56 10 and I got that at an estate sale for one dollar The next item is this vintage boglins Slurp toy. Um, I knew this was a bolo. I saw this at a garage sale and I could not pick it up fast enough This guy is not in great condition. He's got some condition issues And some damage and I just disclosed it and showed it. Let me see if I can find it here for you See, um, right here. It's kind of that's his arm. It's kind of pulling away. So I think this went internationally if I remember correctly. I want to say the person had Zero feedback, which is fine. I'm fine selling to zero feedback It may have been somebody that saw my video because I posted a video over on my reseller testing bolo products And I attached it and I know I sold another another item from that so I posted on youtube with the title So anybody that's searching this on youtube Can find my ebay store and then purchase the item So this sold for 72 dollars the buyer was all in for 7905 and I got that at a garage sale for 50 cents The next item are these marks of navarone play set soldiers. So let me tell you a little story about this Um, I had these cross posted I do cross post some items to like grailed and facebook and etsy And I had this cross posted to facebook and I had several people inquire about them But they all wanted to offer me lower prices one person Insisted that these were only worth a dollar to Or was it 50 cents to a dollar 50 a piece? That I was way overpriced and I'm like that's fine. I understand no problem. You can search elsewhere I mean people tell me that stuff all the time and I'm like, that's okay. You don't have to buy it, you know Um, I'm not going to change my price. Am I flexible with my pricing? Yeah, I'll take I'll look at a best offer, but I when people come to me and tell me What I should be selling my item for I I don't want to say I get offended, but it's a little bit frustrating sometimes Because I've done my research And I was willing to wait for the right buyer on these because I know that they're hard to find And they do make these little characters soldiers that are cheaper And not collectible that you can get really cheap So I held strong and these ended up selling on ebay for 120 dollars for 26 of them So if I take let's see 120 divided by 26 I ended up selling these for four dollars and 61 cents a piece. So The person that was messaging me obviously Was misinformed or did not know the market on this item So just I guess my point in telling you this is if you feel strongly about something It's okay to keep your price where it's at The right buyer will come along and if they don't then you're going to know you're too high. So The next item I sold is this vintage boys coddington hot rod car. You guys I did not sell it for 400. Um I did run a 30 off sale for a while. So it was in the 300 range. I was hoping to get 350 325 for this Somebody offered me 288 dollars and 25 cents and you guys I could not pass it up Um, I got it at a garage. So I think it was a buck It was kind of one of those things where I bundled a bunch of stuff The buyer was all in for 324 dollars and 86 cents and in the feedback they put fair price Which I completely know that I undersold this and if you go and watch my is worth point worth it on this channel I tell you the whole story And I got worth point because of this item and i'm so glad I did is worth point worth it. Yes 100 Um, I was originally going to sell this item auction style starting at 150 and there's a good chance it would have went for 150 so Already paid for most of my subscription with this one item And I have other examples in that video that tell you why worth points worth it I do have a link a referral link down below if you guys use that to Join worth point that would be amazing. I'd appreciate you so much for doing that And um, if you want to know about the price guide and the different things that they offer That is also in that video. So definitely go and check that out All right, you guys this one was another one that was just I'm super happy about it. I think I got this at a garage sale It was sitting in my garage you guys just hanging out in my garage in my money pile And I pulled it out and I I want to say I paid like a buck for it, but I'm not 100 sure and it it moves It uh, you turn the key it's a wind up and it like pats its face From what I understand somebody messaged me asking if it had the mirror So i'm guessing right here in this little hole in the hand. There was probably a mirror that went with it So it was still incomplete I did an auction on this. I had multiple offers and I was like nope. Nope. Nope. Nope Like I know this item's cool. I can't find any others like it. I'm holding out Nobody bought it. So what did I do? I put it on I increased my price Put it on a buy it now with best offer and it sold within a few days for a hundred and eight dollars Plus shipping. So again, you guys I do kind of price my items a little bit high so that I can take offers and um Send price drops and stuff like that. So that is how I do things. Thank you for being here. Thank you for watching Let me know what you think in the comments about these volo items um Leave me an emoji of an owl if you made it this far and again a lot of the links that I referenced are down in the description of the video So be sure to check those out and let's talk about this little necklace This is going to be listed in my ebay store Um, I am unboxing 344 pounds of jewelry. Uh, I started this two years ago And I got burned out and I stopped unboxing the jewelry. I'm like i'm done. I can't do this anymore I'm just I I just stopped So I'm kind of like in the mood to unbox the jewelry again. So I've been working on it I've been sitting things to the side and I'm like, I'm gonna throw on a necklace for each video And then I'm gonna list it in my store. This is just plastic. You guys It's just a plastic necklace, but the black and white is super super cute So I'm gonna get it listed. I wore this one in the other video if you guys were at my live unboxing Um, I had one of them on my reseller testing volo products and the other one on my sourcing with volo buddies channel Those are both linked down below. I do Um, I think I'm gonna do the jewelry unboxings on my sourcing channel, but I don't know I might mix it up So make sure you subscribe to both. Um, if you're interested in this necklace, it should be in my store soon So thank you so much for being here. Thank you for watching and I'll see you the next one


Since the dawn of time, mankind has always sought to understand, understand the world that revolves around us. As we seek to know the unknown, but our greatest accomplishments are still ahead of us. We are the guardians of a better tomorrow, striving to seek a firm footing in the depths. But knowledge is more than we find in books and libraries. It's experiencing life, where everything is within reach. Exploring our passions. University.


Personal Finance PowerPoint Presentation Inheritance Tax Prepare to get financially fit by practicing personal finance Support Accounting Instruction by clicking the link below giving you a free month membership to all of the content on our website broken out by category, further broken out by course Each course then organized in a logical, reasonable fashion Making it much more easy to find what you need than can be done on a YouTube page We also include added resources such as Excel practice problems PDF files and more like QuickBooks backup files when applicable So once again click the link below for a free month membership to our website and all the content on it Most of this information comes from Investopedia Inheritance Tax which you can find online Take a look at the references Resources continue your research from there This by Janet Barry Johnson Updated May 31st, 2022 In prior presentations we've been looking at estate planning then focusing in on particular tools that can be used in estate planning Now we're focused on an inheritance tax First question What is inheritance tax? An inheritance tax is a tax imposed by some states on the recipients of inherited assets So let's do a quick recap of the timeline for our estate planning Before we die What we want to do is make it as easy as possible at the point of death to be able to allocate our assets in accordance with our wishes We want to make the process as easy as possible on our loved ones and we would like to generally pay as little taxes as possible which really is just simply reverting back to the first point of wanting to be able to allocate our assets in accordance with our wishes When we think about taxes at the point of death we usually think on the federal side possibly having the death tax or the estate tax So a quick recap on the tax situation Note that the main tax that we think about in the United States is the income tax, usually the federal income tax we tax when we earn money and on the state side of things we also might have some states states can do whatever they want theoretically they can tax how they choose they might mirror the income tax on the federal side or some states might tax some other way such as through a sales tax or property tax or something like that, some other combination And then at the point of death we have on the federal side an estate tax which is a little funny because that tax is kind of like the balance sheet side of things so we have to accumulate all of our assets into an estate and determine if that amount is large enough to be subject to an estate tax and then apply the estate tax on the estate as opposed to what you might think would be like another reasonable way you could try to format this if you're going to tax at the point of death wait till the money goes to the recipients as income and then they would tax it when they receive it that would be an inheritance tax so you would think you wouldn't really have both on the federal side you've got the estate tax you tax these estate and some states then again can do what they want at the point of death they might have nothing in terms of death tax of any kind or inheritance tax if they so choose they might tax in other ways or they might have a state tax that kind of mirrors in some similar ways like the federal government estate tax or they might choose an inheritance tax which makes more sense and that it lines up kind of with the income tax in some ways because then the money would flow through you would think from the estate to the recipients and you would say well it's kind of like they're getting income so we should tax the person who's receiving kind of like the income side of things so those are the options we're generally looking at the state side of things from the United States taxes when we're thinking of an inheritance tax remembering that the Fed has an estate tax okay in contrast to an estate tax an inheritance tax is paid by the recipient of a bequeased rather than the estate of the deceased so again you wouldn't really think it would be taxed twice right someone dies either you pile up all their gold on top of the dead corpse tax the net value of it at that point in time or you wait till the distribution of it goes to the individuals and then try to tax it when the recipients receive it so the tax is not common in the US and whether or not it applies in one of six states with an inheritance tax as of 2022 depends on the state in which the deceased lived or owned property the value of the inheritance and the beneficiaries relationship to the decedent so understanding inheritance taxes an inheritance tax is not the same as an estate tax so don't get them mixed up the estate tax is generally the one that you might be subject to on at least the federal side of things if the estate is large enough we're talking about the more unusual tax which would be applicable possibly depending on where you are on the state side of things an estate tax is assessed on the estate itself before its assets are distributed basically like a balance sheet kind of thing well an inheritance tax may be imposed on the bequeasts beneficiaries so it's kind of more like an income kind of thing because it's kind of like you're saying that the inheritance is basically income so there is no federal inheritance tax in the US while the US government taxes large estates directly imposing estate taxes and if relevant income tax on any earnings from the estates it does not impose an inheritance tax on those who receive assets from an estate again you would think that you wouldn't do both because that seems kind of like double taxation if you tax the balance sheet and then the recipients after they get it so you would think it would be one or the other so inheritance taxes are collected by six US states you got Iowa, Kentucky, Maryland, Nebraska Jersey and Pennsylvania whether your inheritance will be taxed and at what rate depends on its value your relationship to the person who passed away and the prevailing rules where you live inheritance tax may be assessed by the state or states where the decedent lived or owned property how inheritance taxes are calculated an inheritance tax if due is applied only to the portion of an inheritance that exceeds an exemption amount so we got this kind of similar kind of concept of an exemption that we saw on the estate having an exemption and we saw we can kind of compare it to the income tax side of things comparing it to the federal income tax where you have like a standard deduction like you got to clear the standard deduction and then you might be taxed over and above that amount is the general concept above those thresholds that are typically assessed on a sliding basis so you might have some type of progressive tax rates again kind of similar to what we have seen on the income tax side of things with different rates sliding basis so rates typically begin in the single digits and rise to between 15% and 18% both the exemption and both the exemption you receive and the rate you're charged may vary with your relationship to the deceased more so than with value of assets you are inheriting as they rule the closer your familiar relationship to the deceased the higher the exemption and the lower the rate you'll pay surviving spouses are exempt from inheritance tax in all six states so it kind of makes sense to some degree depends how you kind of look at it obviously if you're looking at a surviving spouse a married couple you would think that in general they were two entities now they're one kind of financial or legal entity so you would think there wouldn't be a tax when one spouse dies and the money goes to the other person or you can just think of them as one legal entity although again the technical definition could change from state to state whether it be community property states and so on but like one legal entity that hasn't really terminated until the second person dies so but when it goes to someone else then again you would think that a closer family member then in some ways you might say well that seems like a normal kind of distribution maybe not subject to taxes and if it was a complete random person that you wouldn't think would be in the normal line of inheritance due to family maybe then that's the justification to say well they're going to have a higher tax rate or something like that it's a little bit I don't live in one of those states so that's a little bit unusual to me but it makes some sense domestic partners too are exempt in New Jersey decedents are only subject to an inheritance tax in Nebraska and Pennsylvania inheritance tax thresholds in most states an inheritance tax applies to be queased above a certain amount in a few instances the size of the estate is significant there are further exemptions for heirs depending on how closely related they are they were to the deceased or the details by state Iowa immediate family members you got spouses, parents, children are exempt charities exempt up to $500 the tax rate on others ranges from 5% to 15% of inheritance Kentucky immediate family members spouses, parents, children siblings are exempt other recipients exempt up to $500 or $1,000 the tax is on a sliding scale based on the size of the inheritance and includes a minimum amount plus a percentage ranging from 4% to 16% Maryland immediate family parents, grandparents, spouses children, grandchildren, siblings and charities exempt other recipients exempt up to $1,000 the tax rate is 10% Nebraska spouses and charities fully exempt immediate family, parents, grandparents siblings, children, grandchildren exempt up to $40,000 other relatives are exempt up to $15,000 and unrelated heirs up to $10,000 the tax rates above those exemptions are 1% 13% and 18% respectively New Jersey immediate family, spouse children, parents, grandparents grandchildren and charitable organizations exempt siblings and sons, daughters and law exempt up to $25,000 the tax rate ranges from 11% to 16% depending on the size of inheritance and the familial relationship Pennsylvania, spouse and minor children exempt, adult children, grandparents and parents are exempt up to $3,500 the tax rate is 4.5%, 12% or 15% depending on the relationship inheritance tax versus estate tax inheritance tax and estate tax are often lumped together however they are two distinct forms of taxation both levies are based on the fair market value of a deceased person's property usually as of the date of death so clearly when someone dies then you're going to have to manage the assets and liabilities so you're going to have to value assets and liabilities to do that you're basically doing a balance sheet kind of calculation as of a point in time and so if you have stocks and bonds that's fairly easy to do it's a little bit more difficult to do with like real estate and jewelry and stuff like that because it's unique in nature but you gotta have a value of it generally so but an estate tax is levied on the value of the deceased's estate and the state pays it so on the estate tax side of things again you're kind of thinking of it as like it's still part of the property of the deceased person right it's the deceased person's estate which you are now taxing which in that kind of seems like a double tax because you've taxed them when they earn the money and now you're taxing when they're dying on the balance sheet side of things but it could be a little bit easier you know it has its pros and cons in contrast if you're going to do any kind of tax when someone dies but in any case in contrast an inheritance tax is levied on the value of an inheritance received by the beneficiary and it is the beneficiary who pays it so on an inheritance tax now you got the lump of the estate you're talking I mean if it's a wealthy individual that was subject to the estate tax then if it was an inheritance tax you're going to wait until they actually distribute it to the other individuals which from an income tax side of things kind of makes sense because now you're saying well it's kind of like income to the under other individuals although people that don't really like taxing people when they die is would say well it's more like a gift right it seems more like a gift at that point in time an inheritance and that's why the gift and the inheritance are tied or kind of tied together you can see how you would both of these two things if you applied either strategy would result if the tax was significant and different planning strategies and trying to lower the overall amount of the tax that would be implied as the tax gets more and more significant right so the distinction between an estate tax and an inheritance tax with identical rates and exemptions might make no difference to a sole error but in some rare situations an inheritance could be subject to both estate and inheritance tax according to the internal revenue service IRS federal tax returns are only required for states with values exceeding 11.7 million in 2021 and 12.06 million in 2022 so we talked about the federal estate tax in prior presentations it was originally designed to only tax really really wealthy people it wasn't one of these things that was going to creep down to the middle class or anything and they raised the rates so it's fairly significant but again that's not like billionaire status at that point so and again they could change the law basically at any time so we talked about that in the past if the estate passes to the spouse of the deceased person no estate tax is assessed if a person inherits an estate large enough to trigger the federal estate tax the decedent lived our own property in a state with an inheritance tax and the bequest is not fully exempt under the state's law the beneficiary faces the federal estate tax as well as a state inheritance tax so if you have a state tax then again you want to obviously take that into consideration with your planning process the estate is taxed before it is distributed and the inheritance is then taxed at the state level errors may also face a state estate tax as of 2022 12 states and one district still collect a state taxes Connecticut a district of Columbia Hawaii, Illinois, Maine, Massachusetts Maryland, New York, Oregon Minnesota, Rhode Island, Vermont and Washington so all these states that are taxing you when you die in addition to the Fed if you're a wealthy individual you might want to get out of them I don't know any case that's just thought so if you live in a state with an estate tax you're more likely to feel it's pinch then you are to pay federal estate tax the exemptions for state and district estate taxes are all less than half those of the federal assessment in other words if you're subject to an estate tax on the state side of things it might not be as high in terms of the rates that they're going to apply or whatnot but usually the exemption threshold is much lower than the federal thresholds that we have up here so some states some state a state tax exemptions may be as low as one million dollars so again a million dollars and the other kind of problem with this kind of tax when it's on the federal side of things is that you know if they had a federal tax a state tax exemption that was a million dollars a million dollars is a lot less depending on where you live like if you live in a high cost of living area like New York or California you know a home that's an average home could be you know getting close to a million dollars at this point in time whereas if you live other parts of the country the cost of living is going to be a lot less so it's kind of hard to try to have a blanket you know a state or death tax that's kind of the same for the whole country kind of thing on the state level again what you know would kind of depend where you are in terms of people's state being valued possibly at different ratings in any case avoiding inheritance tax that's what we want to avoid the taxes no matter where we're at so while there are a lot of exceptions and exemptions for inheritance taxes especially for spouses and children residents with significant assets in a state with one may still want to minimize the exposure for errors so one common strategy is to buy a life insurance policy in the sum you wish to bequeath and make the person you want to leave it to the beneficiary of the policy so if you're going to leave the money to someone who might be subject to inheritance tax you might try to plan some kind of way that you could give that portion of the money possibly by a life insurance policy which may not be subject to the inheritance tax the death benefit from an insurance policy is not subject to inheritance tax so you could also put assets in a trust preferably in a irrevocable trust this effectively removes them from your estate and their classification as an inheritance upon your death so we can use the same kind of tools we've talked about in the past a trust being kind of similar to a corporation and then it's a separate legal entity so now you're putting money into the trust and you're trying to say well look I don't have the money at the point of death it's in the trust and the trust has been set up to do whatever the trust does when I die and again you've got this kind of problem when you do that as to whether the trust is going to be revocable or irrevocable and so on because you would think the state might say well if it's revocable you still have control over it and therefore it might not do what you want to do and we're still going to apply the tax and so on so you got to make sure that if you're setting up a trust you're doing so so that it achieves the purpose or goal that you're looking to achieve so you can set up a schedule for the distribution of the funds when you establish the trust consider giving money gradually while you're alive to recipients this is the same kind of strategy that we could do to avoid any kind of death tax whether it be inherited tax or whether it be the estate tax we try to give the money away before we die remembering that on the federal level they have some limits because the government is going to try to limit how much giving away you can do and so on so they can try to get a piece of estate so you got to make sure you're in compliance there so instead of a lump sum bequest upon your death so states usually don't tax gifts so the states that are taxing on the inheritance may not be as as into this or be as restrictive in terms of tying together the gifts as the federal taxes remember on the federal side of things if you're subject to a federal estate tax because you're fairly well off then you got to be careful on how much you're gifting and so on and so forth so how much can you inherit without paying taxes so the six US states with inheritance taxes provide varying exemptions based on the size of the inheritance and the familial relationship of the heir to the deceased the federal estate tax exemption shields 12.06 million dollars from tax as of 2022 there's no income tax on inheritances so on the federal side of things what is the federal inheritance tax rate so there is no federal inheritance tax that is because it's an estate tax on the federal side that is a tax on the sum of assets an individual receives from a deceased person so remember on the federal side they pile up all the all the gold on top of the dead corpse and then the government comes takes its portion first before you divvied up before everyone else and therefore it already got taxed on the estate side of things not on the inherited side of things for the recipients of the money so however a federal estate tax applies to estates larger than 11.7 million for 2021 and 12.06 million for 2022 the tax is assessed only on the portion of an estate that exceeds those amounts the rate is on a sliding scale from 18% to 40% do beneficiaries have to pay taxes on inheritance it depends on their familial relationship to the deceased and on the state where the decedent lived or owned property only estates are property located in one of six states that impose inheritance taxes may be subject to them surviving spouses are always exempt from inheritance taxes other immediate relatives like the deceased parents children and siblings are exempt to varying degrees depending on the state they may be entitled to inherit a certain sum tax free and to pay a lower tax rate on the remainder inheritance taxes mainly affect more distant relatives and unrelated errors how is inherited how is inherited tax calculated inheritance tax rules vary by state most states divide beneficiaries into different classes depending on their family relationship to the deceased immediate lineal unrelated and set exemptions and tax rates based on those categories most states only apply tax to an inheritance above a certain amount they then charge a percentage of this sum it may be flat or it may be graduated Kentucky for example imposes a rate that ranges from 4% to 6% rising as the inheritance amount does from 1% to over to from $1,000 to over $200,000 it also imposes a flat dollar figure ranging from $30 to $28,670 based on the sum inherited what's the bottom line inheritance taxes only affect residents in 6 states and they mainly apply to distant relatives or those completely unrelated to the deceased spouses are always exempted and immediate family members, children, parents often are as well siblings, grandchildren and grandparents if they're taxed at all receive more generous terms larger exemptions lower rates still inheritance taxes can kick in at relatively small inheritance amounts sometimes as little as $500 those considering bequeasts that could be subject to an inheritance tax might consider a state planning strategies including gifts, insurance policies and irrevocable trusts


In the last segment what we did is we came up with an equation for the surface forces on a fluid element due to pressure and we're deriving a hydrostatic equation. What we're going to do now we're going to take a look at the other forces that could be on that chunk of fluid. So there are a couple of other forces that can exist on the chunk of fluid. First of all we have body forces and one of the most common ones is gravity or the gravitational body force but we could have others. There could be electromagnetic or other forms of body force and what we'll do we'll look at the gravitational body force here because that's the most common one within fluid mechanics and I'll write out the gravitational differential force element as being that and then that is just rho times g, g being the gravity vector multiplied by the volume of our fluid element. And remember before we were doing force per volume so I will write that as a small f and that would then just be rho times the gravity vector g. Now the last force we're going to look at is one due to viscous shear stress and we'll see more of this later on in the course but for now just for the sake of completeness we will include it and if you recall from an earlier lecture where we talked about Newtonian flow this in a way the term that I'll show you is similar to the mu du dy which was giving us the shear stress within a fluid element and for three dimensional fluid flow now what we can do we can write out an equation and I will put it as Vs for viscous shear so that is the term for viscous shear and viscosity is our proportionality constant and we will express that as del squared V the vector form of V so with that we have the other forces that can be acting on our fluid elements so what we're going to do we're going to combine those all together now if you recall earlier this is what we had for the pressure we had the gradient of pressure was the surface force and then we have this new force here and this one here for the body force and the viscous shear let's put those all together and we will sum forces on the left hand side I will put rho a and this is force per unit volume recall so the left hand side is ma divided by volume gives us rho a and on the right hand side this will be equal to minus the gradient of the pressure field plus rho times the gravity vector plus this viscous shear stress or viscous shear force that we talked about so we can rewrite this now and this is the most general form of fluid static equation what we'll be doing actually it would not be fluid static because we have the velocity term here and so you could have velocity field but we'll make some simplifications in order to get rid of that that I'll talk about shortly but in this equation so what we can say is that if you know your acceleration vector so there and if you know the velocity vector which is there you can determine the pressure distribution in the fluid so that's essentially what that tells us we're now going to consider a number of special cases of this equation and these are the ones that we typically use when we're dealing with hydrostatics so special cases the first one would be if the flow was at rest or constant velocity so if the flow is at rest the acceleration vector a is going to be zero and del squared v is going to be equal to zero as well so if we look back at our equation what we end up with is just grad p is equal to rho times g and this would be the special case or the hydrostatic which we'll look at more extensively in the next segment so that's the hydrostatic condition another special case that can exist is if you have rigid body translation or rotation that would be where the fluid is moving but it's all moving as a solid body movement so there's no relative motion within the fluid all of the fluid particles are moving together for example you put all the fluid in a bucket and you move it for that what happens is we get grad p is rho times g minus a that would be the form of the equation for that type of scenario and the last one that can exist this is if you do have fluid motion and velocity but let's say the fluid motion is what we call irrotational so irrotational motion is characterized by del cross v equals to zero and with that what would happen is our grad squared v term would disappear and consequently we have another simplification of the equation looking back it's very similar to the solid body rotation one but with that one we would determine the pressure because we have fluid motion pressure would be determined using an equation that we'll look at later in the course which is called Bernoulli's equation so pressure via Bernoulli equation that provides the pressure in the equation that we have so those are simplifications that you can have in this section however we're mainly going to look at the hydrostatic condition and the rigid body translation rotation we'll look at the other ones later on in the course


ServiceNow Knowledge 14 is sponsored by ServiceNow. Here are your hosts, Dave Vellante and Jeff Frick. Hi everybody, we're back. This is theCUBE, we're live at Moscone South in San Francisco. This is the ServiceNow Knowledge 14 conference. I'm Dave Vellante here with Jeff Frick. theCUBE is our live mobile studio. We go out to the events, we extract the signal from the noise. Atticus Tyson is here, he's the CIO of Intuit, he's attending a parallel event that ServiceNow has going on. Which is the CIO Decisions event. I think it's about 100 CIOs. Atticus, welcome to theCUBE. Thanks for coming on. Thanks, happy to be here. Yeah, so tell us a little bit about what's going on over there at the CIO Decisions event. So as you said, it's about 100 CIOs. Having some good discussions about the future of the role of the CIO and listening to some good speakers and getting together to be able to talk and share. What are some of the big themes that you guys are talking about? Well the big theme is the shift of IT really from being about systems of records, to systems of engagement. And how we engage with lines of business to really enable growth. And it's less about cost savings and what we used to do. Yeah, so the whole notion, I mean I love Frank Sluglund's keynote this morning, sort of the message of turning IT from a cost center into a producer of value. It sounds good, right? But when you get down to it and you're in the front lines and you're talking to a lot of CIOs, trying to do more with less, a lot of times they don't have the budget, they don't have the time, they don't have the management buy-in or the board buy-in. Interestingly, we were just talking to Dave Wright. We were asking him about, will more CIOs come out of the business? Because that was one of Frank's sort of prescriptions. You really need to have a CIO who knows as much about the business as the business people. And that's the discussion that they should be having, not a technology discussion. It's rare, you happen to be one that came out of the business. So talk a little bit about some of the roles that you've played into it and how you ended up as a CIO. Sure, so I've been with the company almost 13 years and I've had four major jobs, one leading the IP protection program for the company, product management for the small business division and then heading up engineering and now in IT. And the main reason I joined the IT group is I was always hearing the reason we couldn't do something was because of IT. And so rather than complain about it, fix it. So I joined them and it's hard. Exactly what you talked about is we have to still run the company with all of our existing systems of record while we're innovating, while we're trying to tell a new story, while we're trying to train our existing employees who are great at running these older systems but don't necessarily know the new paradigms. So it's shifting everything while still running the railroad, which is difficult. So from a business perspective, when you're sort of running the business, how was Intuit using technology as a differentiator and as a competitive advantage? Well, one of the things, since our main product is technology, really our whole community, our whole set of employees are technical people. And so we're trying to embed technology everywhere. And one of the things that's happening also is the line between what's traditionally IT and what's product is blurring.  And so we as an IT group have to figure out how to work within that framework and have a great experience and do it. Okay, so the line between the IT group and the product group is much more blurred you're saying it into it than it would be a manufacturer. Absolutely. And in fact, one of the things I've been doing is really making the IT group more like a product group, hiring product managers. I actually have a whole design staff that designs experiences end to end. And so if you were to walk into a room, you might not know who's from IT or who's from the product team. Yeah, okay. And so are the discussions that, what are they like, the discussions that you're having with the business folks? I mean, you're talking about, their P&L, how to grow their profitability, how to increase their margins, how to expand their channel. I mean, are those the conversations that you're having? Absolutely. And how do we really provide a great experience for our agents who work with customers? How to provide great end-to-end customer experiences? How are we as the IT group enabling them to do more for customers and create that one-on-one engagement that we want to do? So, Atticus, what's been the reception kind of coming in from the outsider, if you will, from the other side of the wall within the IT focus? I'm sure you have probably some expectations that were completely incorrect, some assumptions that weren't necessarily there. So how have they taken to you? And also, there's a lot of talk about transforming kind of IT people from service providers in terms of pencil pushers and form pillar outers to strategic thinkers adding business value. Are they receptive to that? Was that a hard message to get across? How is it actually happening? Yeah, absolutely receptive. And I think if anybody's learned more, it's me more than them. I've learned kind of the importance of the IT organization and how embedded it is with actually operating the company. And I've found people there who've wanted for a long time to be able to have these kinds of conversations. But they've been relegated, if you will, to handling tickets. And so once we can provide the framework and really align the work we're doing in IT with driving growth, with driving value, the conversations get easier, they get more meaningful, and the people doing the work really enjoy it much more. So is there a secret formula that you can share with either CIOs that haven't been on the business side or business practitioners that haven't really been on the other side of better ways to bridge that gap or to collaborate or make it easier? I think the way that worked for me was really trying to get aligned around KPIs or key performance indicators. Sit down with a business leader and say what are the three or four metrics that I can really help in driving your business? Is it contacts? Is it average handle time? Which it usually isn't. Is it more of a transactional net promoter score based on satisfaction with dealing with the agent? What are those right indicators for you as a business leader? And then let's measure ourselves there. And I'll be responsible as the technology guy for figuring out the right technology to make that happen. But we're going to focus everybody in IT and the business on the same measurements. And how have you been able to carve additional resources to go after those types of objectives versus we always hear about the unbelievable amount of percentage just to keep the lights on and keep things running? Exactly, and that's really an internal conversation that we've got to have because I'm definitely not getting more budget. And so it is around how do we get more efficient and automate with what we already have, work with vendors to help us get better while we shift resources over to the new because I'm definitely not getting more budget. You're not getting more budget. So, Atticus, you've run engineering organizations. So you've got at least technical background from that standpoint. I'm a software engineer, right? But you mentioned off camera, you're not the acronym guy. Right, right. So you hang out with the Hadoop world, forget it, right? Pig and Hive and Scoop and Yarn.  So when you come back into a role, you come to a role of the technology head, how do you organize to tap that technical expertise? Not that you necessarily lack, but the currency. Yeah. The acronym, so how do you organize that you meet on your CTO? Do you have, you know, did you have to change the organization or did you inherit one that actually worked? I wonder if you could describe that a little bit. Great question, I think the biggest thing I changed about the organization when I came in is when I came, it was organized around systems. So there was a Siebel team and there was an IVR team. And what instead we did is we created a sales care and marketing team. And we said, you know, you're really accountable for driving a great sales care and marketing experience for end users and for agents. And I don't really care what technology you're using. And so don't be a legion to the technology because as we all know, Salesforce is great today. Five years from now, they may not be. And I don't want to get so blind that I don't see the next thing coming. And so I have an expectation of people in those groups that they're always looking for the next thing as well. So it was a classic stovepipe. Now, what kind of friction did that cause? Well, the friction is really kind of my own learning is how interconnected all of the enterprise really is. It's nice and easy to say there's a sales care marketing team and there's a finance team. But those two systems really have to integrate and talk together and learning how to bridge that gap in a way that doesn't create a lot of bureaucracy is something we're still learning to do. And what has been the impact of that change? Have you been able, is there anything discernible at this point or actually how long you've been a CIO? So CIO since June. Okay, so relatively new. Yeah, okay. But I was heading engineering within, I worked for the CIO for about a year before that. So I've been in IT for about two years. Okay, and what has the impact been of that organizational change? Has it been discernible? I think it has, I think there's two main things. One is much greater transparency with our business partners of how we're spending the dollars. And I've invited them in to sit with us at the table and help us allocate those resources together. So, and a greater appreciation on their side of the trade-offs we have to make while we still run the business but try to do the innovation. That's one. And then the other is really creating some great innovation coming out of the team. Because when they feel like they're a legion to the sales and care engineer who's out on the floor, like one of the things I've done at Intuit we're famous for something called the Follow Me Home. Where we actually go to our customers' homes and watch them use the product. We did the same thing, where we did a follow and agent. So we went to the call center and actually watched agents work and asked them what was difficult about using the product. We had engineers doing that, not product managers. So they can actually see the problem first. Did you drove that initiative? Absolutely. Was that considered innovative? It seems so basic, right? But everyone's so busy and doesn't really have time to do something. And creating the time to do it. And even getting the cooperation from the managers of the agents to do it. Because they just want to be on the floor taking calls. But actually having somebody looking over their shoulder asking what worked about that, what didn't work. It was a little bit of organizational pushback but once they understood the value, they got on board. And were there any aha moments that came out of that? Or was it more incremental? Several. And mostly around just screen design and call flow and why did we have you do four clicks when you could do it in two clicks to really allow the agent to focus more on their interaction with the customer and not their interaction with the product. So I want to shift gears a little bit. So when you were into it, right?   Talk a little bit about how that knowledge helped you within trying to transform the IT department. Great question. I mean, because as we've been running a digital or an online product for well over 12 years now, both in TurboTax and in QuickBooks, and we've learned a lot in how to just run that kind of experience. And so now as cloud based IT offerings are coming along, we already really understand kind of what they're doing on their side. And one of the things we've been really pushing for, I think along with other people in the industry is more transparency into those cloud providers. Sometimes you'd think that they just want to run it as a utility, but as a technologist, I want to know more about how their service is running. So I know how to rely on it. And that's been, I think, a tension in the industry. And we got a wrap, but I want to just, Atticus, get your take. So you're new to service now, right? Yes. You're bringing it in. And we're going live in about a month. Okay, so you've been through the proof of concept. What are your expectations? Where are you going to point it? So I think first off, just the agents who resolve tickets are going to have a much better experience than what we had before, which was a combination of some homegrown systems and a couple of other vendors. So a much better agent experience during the resolving and a much better employee experience putting in tickets and also much better visibility into the workflow end-to-end. Great. Atticus Tyson, thanks very much for coming on theCUBE. Good luck in your new role. Looks like you're having an impact and kind of a poster child for the service now vision of a CIO. So appreciate you coming on. Thanks, happy to do it. All right, keep it right there, everybody. We'll be right back with our next guest. This is Dave Vellante with Jeff Frick. We're live from Moscone in San Francisco. Right back.


What's going on guys? Welcome to a new video. So in this one, then I want to take you through what my plan or my strategy would be if I had to start from day one with zero pounds in the bank. So knowing what I know now then so I've been dropshipping for three years advertising on Facebook for three years. Would I still do dropshipping what I still use Facebook ads if I would then what kind of products would I sell what kind of store would I start And how would I get the money together then to actually start dropshipping and how much money would I actually need. So they're the kind of questions we're going to be answering. But before we get into them, I just want to quickly mention as always, I am giving away a free one to one consultation call with me in this video. If that's something that you might want to win, then all you have to do is simply like the video and leave a comment down below. And if you come to my previous video, then just make sure you stay tuned to the end of this one where the winner will be announced. And with that being said, then guys, let's get straight into it. So start from the beginning then forgive me if I keep looking down. I've just got some notes on my phone just to make sure I don't forget to mention anything. So I'm starting from day one then knowing what I know now I've got zero pounds in the bank would I still do dropshipping. So the short answer is yes, just purely because in terms of scalability and how much time is actually involved. If you compare it to a lot of other business models, then it's quite an easy business to run that even now like day to day. I probably spend that if I really wanted to, I could spend like an hour a day probably and that would be enough just to kind of keep things going. And then anything above that is just pretty much extra. So extra product research or extra time put into ads or if I'm working on something new, but just to pretty much manage dropshipping business. It doesn't actually take that much. So yes, I would still do dropshipping then. And if I had zero pounds in the bank, then I need to get some money together. So how would I do that? And I would go about it one of two ways. Number one, I would just simply flip things on eBay. So you can get an app called Profit Bandit on your phone. I think it's like a one off payment of like ten dollars. And you can go into discount stores in the UK and the US, scan barcodes on products and it will tell you then what it's selling for on Amazon and what it's selling for on eBay. So if something's really cheap and it's on offer, you can scan it and if you can buy it for say a pound. So to give you an example, then back in the day, we're going back four years now when I used to do Amazon FBA. This is how I got started e-commerce, believe it or not. I went into one of the discount stores. I can't remember what it was, probably like a pound store because everything the product I bought was 99p. So I'm not sure it's one of the discount stores anyway. And Amanda Holden's biography was in there for 99p and I made the person work in there going to the back and bring absolutely every single copy out for me. And I ended up buying something like 20 to 25 copies. Anyway, it was selling on Amazon for $11.99, I believe. So I sent them all into an Amazon Fulfillment Center undercut Amazon themselves and they sold out within the space of like two weeks, I think it was. And I made it pretty much like a pretty healthy chunk of profit. Another thing I did as well is I went into Costco and they were selling these test papers and it was coming up to like mock week where kids would be doing mock tests. And I ended up buying something like 45 copies because that was literally all I could afford to buy. And again, they sold out all within the space of two or three weeks and I made some pretty decent money. So in terms of getting that quick turnaround and building up the cash in your bank account quite quickly, then flipping things on Amazon and eBay is definitely one of the things I would do. The second thing I would do then is start a social media marketing agency. So try and get as many clients on board as possible because I know Facebook ads pretty well. I'm pretty confident I could go to almost any business and be able to bring in more business for them than they would have to pay me. So again, that would be enough way I would generate cash. Now, even though I'm pretty confident I can make a decent living doing that. And the reason I would still go across into ecom and drop shipping is purely because number one, I don't like working for other people. And with a social media marketing agency as well, you're working for other people. If you don't provide a service that's good enough quality for them, then they essentially can tell you what to do or whatever. And I just don't like that at all. And the other thing as well is that with a social media marketing agency, you only get paid when you're working with us. Whereas with e-commerce, you can sleep until like one, two o'clock in the afternoon, look at your phone and you've made some money. So that's pretty much how I would go about gathering up some cash. But the ultimate goal would be to get into ecom as soon as possible. In terms of how much money I'd want to save up before I moved across, the short answer is as much as possible. But as a very minimum, nowadays, I would say £600 if you plan on using Facebook ads, preferably a bit more. The reason I say £600 then is because I would now today invest in a paid theme because it's going to give you the edge over probably the majority of stores. In fact, it'd be quite interesting to know what percentage of stores only use free themes.  Back in the day like a year, two years ago now, I never used a paid theme. But nowadays, because there's just so many kind of of those generic general stores out there or those generic branded stores, that a paid theme is just going to make you stand out from everybody else. In terms of paid themes then, which ones would I recommend? There's kind of three main ones. Number one is shop-tomized. I'm not affiliated with these, by the way. But number one is shop-tomized. I really like the way you can customize their stores and kind of like the clarity and the contrast of the colors they use. And then the other two you can actually get from the Shopify theme marketplace as well. They're called Envy and Parallax. So make sure you go and check those ones out. And you're looking at about, I believe, on the Shopify theme marketplace. I think they're $120, where shop-tomized is a bit more expensive than that. And I think the base package is about 160 or 180. So now that I've got some money in the bank then and I'm ready to start my store, what kind of store would I start, what kind of products, etc. So knowing what I know now then, I would go for a branded store in a niche that is a pretty decent size, but it's just like it's less competitive. It's untapped and a good example of this then would be the Gulf in niche. Because I'm interested in golf, I watch a lot of golfers on YouTube. There's a lot of influencers on YouTube, a lot of influencers on Facebook and Instagram and hardly any of them are selling somebody else's products. It's just a really good untapped market and they get a ton of views as well. But the potential or the overall size of the niche is absolutely huge. Another good example of this one as well is the hiking and camping niche. Again, on YouTube, there's a ton of people who all they do is make videos and talk about different camping gadgets, not even ones they're trying to sell, just ones like trying to help people out. They talk about places they've gone camping, etc. Again, it's just a really they get a ton of views and it's not a very competitive niche, so there's definitely a lot of potential. In terms of the products, then I would start my store with P.O.D. Clovin and I would have a lot of t-shirts and jumpers, etc. apparel with funny memes on. So you only have to Google funny memes to do with golf and there's just a ton of different ones that are really funny. And the reason I would start with P.O.D. then is because print on demand, by the way, is because it's a quick way then of building your brand up and building that trust and reliability with your customers because you can deliver the goods really quickly. And then once you start to grow to a substantial size, you've got a good customer base, maybe 5000 emails, a couple of thousand likes on your Facebook page. Then I would start to introduce drop shipping products. Now, the reason I would play it this way then is because when it comes to building a brand, then a brand is built on its reputation, its reliability, its quality and ultimately then its customers trust that has in that brand. And when you're delivering goods that take two to three weeks, sometimes a bit quicker, sometimes a bit longer, it can be difficult to build up that reputation and that quality and that trust with your customers, whereas if you sell them a t-shirt first, that's really funny and it arrives within a few days, then you've already got that trust, you've already got their recommendation, you've already got a good review, you've already got their like on Facebook, you've already got them showing their t-shirt to their mates. It goes back to the point that I mentioned in a couple of other videos ago where if you sell a product to somebody in a certain niche, then the chances are they know other people in that niche, which they're going to then talk to you about. So for example, well, within the golf niche, because I'm interested in golf, I know a ton of people who also play golf. So if I was to buy a golf product of somebody and it was really good, the chances are I would show my friends it, I would tell my friends to show my mates, etc. So word of mouth and all in all, it just kind of adds up to essentially just building a brand and that's why I'd start with POD first. So once I've built a set or just like a half decent brand, so like I said, 5,000 emails, 2,000 likes on Facebook, then I'll start moving into dropship products because once you've provided service once, that's good. Even if your item takes a little bit longer than expected to arrive, then because you've provided that service once really good for them, there'll be more for giving. Now, I just want to quickly mention in fact that going back to the beginning, if I had more money to start with, then I would just go straight to dropship in and probably test a product for like three to four weeks. And if it was successful, then just go straight into order fulfillment. So buying in bulk, getting them shipped to a fulfillment center, and then doing it that way basically so you can still run your business from a laptop. Now, I have recently partnered with a fulfillment center in the UK. If that's something that you guys want to see more content on or want details about, then all you have to do is leave a comment below. And if I get quite a few people asking me for it, then I can do a video on that topic, no problem. So now that I've got my store, I've got my products, how would I go about marketing my store? To begin with, then I would start with influencers purely because I chose the Gulf niche and influencers are just crazily untapped and hardly any of them. I don't think I've seen a single one. In fact, selling other people's products or selling their own products. I would try and get as many influencers on board. And when I say influencers, then I don't just mean Instagram. I mean YouTube and I mean Facebook as well. You don't hear a lot of people talking about those, but definitely all three platforms essentially. And I would try and get them on board in one or two ways. So number one would just be a one off post. So it could be on Instagram or on YouTube. It could just be one video of them mentioning your t-shirt wearing it. When it comes to influencer marketing, then the best way you can get them to advertise your product is to show them with your products themselves, not just a post, but actually show them using your product or wearing your product, whatever it is. And the second way I would try and get them on board then is as an affiliate. So send them a unique link. There's certain apps in the app store. There's one called Panda Box or something like that. I can't really remember, but there's a couple of decent ones. You can set up unique affiliate links for each individual influencer. The app will take care in terms of profit percentages and splitting it out evenly. And the reason this is probably the best way to do it is because if they get paid a commission on every sale, then it encourages them to keep advertising your store. Whereas if it's just a one off post, there's just one post and then all forgotten about. Whereas if it's an affiliate link, then the more they post about you, the more money you make and the more money they make. And once I've got quite a few influencers on board then and I've perhaps seen about 500 tales, I would then for sure move into Facebook ads because Facebook ads, they become easier. The more data that pushes through them and the beginning, they can be really, really difficult to get some sort of momentum going without spending quite a lot. So you can try and get as many influencers on board for free, setting them up as affiliates and then obviously have your pixel installed, have your customer audiences set up and then all the data that comes through or the customer audiences that start to build up. You can then start to use them for re-tagging look like audiences. I mean, the golf niche, you can target pretty well on Facebook anyway. And that would be pretty much how I would start there. And that would be my strategy. Start with influencers, get them to drive as much traffic as possible, build up, say 500 sales as a minimum and then migrate into Facebook ads and just use the data you've got from Instagram to pretty much build on what you're doing. Once things start to go pretty well, then in terms of where I would go from there, if the apparel was going really well, I would definitely start to look to source that in bulk purely because print on demand is really good and it's really efficient, but it's actually expensive too. So t-shirts you're looking at probably about eight quid for the bare minimum delivered to a customer in the UK, whereas you can get like a t-shirt probably twice as good quality printed the exact same. But if you order 500 units, then it's probably going to cost you less than a pound and that really is how cheap it is. That really is how much it increases your profit margins and you can get 500 units sent to a fulfillment center and they'll just charge you. It's usually about 40p to do the picking and packing and then obviously the postage cost on top of that. But because they're fulfilling a ton of orders on more than what you would be in your business solely alone, they actually get favorable costs as well. So they'll actually be shipping it out cheaper than what you could ship out yourself because they're shipping thousands of orders every week instead of say a few hundred. So in terms of start from day one, then that would be my strategy. I think I've covered absolutely everything. If there's any questions on this at all, if you're just beginning out and you feel like this video has helped you, make sure you let me know. Leave a comment down below. If you're still watching, thank you very much. I really do appreciate everybody watching these videos all the way through and if you are still watching all I ask them is you simply leave this video a like and if you want to be entered into that raffle for chance to win one-to-one call then make sure you leave a comment down below as well. And for that being said then, let's get to announcing the winner of the previous video. So here we are then guys on the previous video and I've just realized I was wearing the same t-shirt in that video, but please believe me when I say this, it has actually been washed since then. But anyway, if you haven't watched this video, make sure you go and check it out. There's quite a lot of useful information in that that drops humans getting more difficult and there's certain things you have to do now, certainly compared to what I used to have to do two, three years ago when I started it's certainly a lot more competitive, a lot more difficult to succeed. So if you haven't watched that yet and you are just getting started, make sure you go check it out. So anyway, I'm just going to take the video you are out up here, head over to our comment picker. Get YouTube comments 57 in a day. That is I'm pretty sure that's like a record. So thank you very much. Please do keep the support coming. We're going to be at 10k subs in no time. I'm sure and the winner of the previous video then is Anesh. So thank you very much for coming to my video. Make sure you reach out on Instagram. We can get that call arranged and guys, if you want to stop trying your luck on you've been commenting on my videos for weeks and weeks, but you just want to get straight down to business and book a call. You can do so. Just make sure you check out the links in the video description below and with that being said then guys I'll see you in the next one.


Hey everyone, so we have some exciting news some interesting news for those who don't know obviously this past week in Japan The switch has blown up ahead over 70,000 you know unit sales and I didn't really think much of it because well There wasn't necessarily a significant game release to cause that I assumed if we're getting more stock here in the US Which we clearly are in fact I have links down in the description to both the neon version and the gray version of switch from Amazon if you don't Own a switch yet, and you keep thinking it sold out We have links to it down in the description. You can go buy it right now at MSRP, which is awesome Um, and I'm seeing a lot more of them to store. So I assume if we're getting more stock here in the US They're obviously getting more stock of the switch in well Japan So an article came across my desk today that said that Nintendo has apparently upped their Switch production to 2 million units worldwide per month So their production is somehow hitting a 2 million per month Which or extrapolated over 12 months would be 24 million units So we know Nintendo's forecast they have consistently stuck to the we are going to produce 10 million units this fiscal year now on October 30th They have a new earnings call a new six month report kind of a halfway point For this fiscal year and there is where they would do things like update their forecast So while they've been sticking to the 10 million, this is the first time they could officially upgrade that forecast So they can up to 12 14 15 or crazily enough 20 although Based on the fact they have shortages for this first six months. I don't think 20 million is realistic But let's get into this report. It comes from I digit times now should be noted I did your times reports exclusively on they make English reports of Asian news and it's It's kind of up in the air that their reputation is kind of like this and you'll see that as I read this report because There's some facts in here that I know they have wrong Unless they happen to have insiders at Nintendo that know what's gonna happen at this meeting on the 30th But let's just get into the report and it says a Nintendo has recently raised its orders for the Nintendo switch to 2 million units a month because of the product's surging demand and the vendor is Expected to be able to achieve its annual shipment target of 20 million units for 2017 So as I said note like it's 10 million units officially So that you might sort of that a red flag, but we'll continue and they said this is according to sources from the upstream supply chain And then they have a quote here since Nintendo switch reportedly will begin selling in China Market in early 2018 the source believes that the devices shipments may rise further next year now It is important to note about that mark is that Nintendo has kind of sort of Publicly denied that they're going to go into China in early 2018, but again, we're not too early 2018 yet They might just want to put a kibosh on it so they could do a big official announcement for it We don't really know what Nintendo's plans in China are Anyways going on the article says by the end of June 2017 Nintendo had already sold 4.7 million switches that is a fact And the strong performance has prompted Nintendo to increase the supply of the games console Obviously they could they were selling out all summer Then they have another quote here says the game console is currently in short supply in Japan And it will not be available in Taiwan until December 2017. I double-checked that that is happening It's coming to Taiwan in December With the launch in China has not been officially scheduled see it's really weird because earlier they said it's coming up early 2018 Another say it's not officially so it's like they recognize their error in their own reporting I don't know it the IGD times is weird and again, they're translating stuff from Asia Maybe some things are lost in translation Anyways, they want to say China lifted the ban on game consoles in early 2014 Microsoft starting selling the Xbox in China at the end of 2014 and Sony released its PlayStation in early 2015 in 2016 China's games console sales grew 56.7% on year a growth higher than the worldwide average according to China's official figures And then it goes on to say that Nintendo has also recently partnered with Tencent to add one of the China based player games To the switches platform, and this is 100% true. This was announced in their last Nintendo Direct Moving on the sources also pointed out that the switch shortages are mainly due to tight supplies Of key components including DRAM Interesting the first time we've heard that that's one of the components that are being shorted And it has nothing to do with defective components or issues on its assembly again We've never heard that they are having those kind of issues. It says the quit this the quitch The switch is currently manufactured by Foxconn and Japan based Hoseidon with Foxconn supplying over 50% of the overall volume But ODMs such as Pegatron technology and Winstron are trying to win orders for the game console Pegatron has stationed a team near Nintendo's headquarters looking to persuade the Japanese based company So in other words It sounds like Ignoring some of the factual inaccuracies that this bad boy right here this Nintendo switch I'm holding in my hand not so they don't sell a version with both blue joy-cons, but This bad boy is going to sell like gangbusters this holiday Nintendo's planning for it And they have up production to a point that they are can hit two million units per month Which is an insane production volume that that's Probably what Nintendo should have been doing all summer. They might have sold every unit I don't know they still haven't caught up in Japan I even heard with the increase to 70,000 sales this past week There were still lotteries being held in Japan So Japan is still extremely supplied in the strain not so much here in the u.s Demand seems to be finally have met, you know have been met officially You know, I talked about it in the past with the snes classic nintendo's Combining scalpers by meeting demand. Well, they technically haven't met demand just quite yet They've just done a better job than the nes classic But they have now officially met demand with switch with how easy it is to get your hands on one so Now the question remains What is nintendo going to do with this moving forward and Are they really going to invade in china in some time next year? And I say invade they're not taking over Well, you know what I mean releasing the switch in china because that's obviously going to put even more simply You know strain on the supply chain Now what's also interesting in here is that nintendo has other companies competing to make units of this and that's only going to help nintendo Really really up production in 2018 if they need to should they launch in china And should they see a huge success chain in china? Especially if they're partnered with tensen which is like the biggest gaming company in china All their games like the biggest most popular games in china nintendo is getting one of those games Which is very league of legends like which there's nothing wrong with that. Uh, those mobiles are fun So obviously we have to sit back and consider the facts nintendo Has likely up production have they hit the two million mark? I don't know That's what this report is claiming and with the factual inaccuracies and the contradictions inside the report I don't blame you if you want to dismiss it But I don't know that it's that easy to dismiss because obviously i think nintendo's With the popularity of the device is going to have companies competing to make more of these units for nintendo And on top of that nintendo needed to up production and they're starting to meet demand Uh in wake of super mario odyssey releasing in less than a month at end of this month Super mario odyssey is going to be here and that's going to be a huge hit It might cause the switch to sell out again And this is before we get to the end of november where they're going to be selling out Probably again around black friday and obviously they still have a late, you know Hopefully hit release and xenoblade chronicles 2 on december 1st Uh nintendo this is ignoring games like skyrim and doom And fire emma warriors and all the games nintendo has releasing in between this whole mess held We've got la noir coming on the 14th of november things are going nuts right now And i am thrilled for nintendo this is just showing that Not only are sales backing up the success of the system nintendo's production is finally backing up the success as well Why they had issues getting this production ramped up in the summer We all know that there's been in the worldwide nan shortages and now over here and according to this report DRAM shortages i don't know how true that is but with companies competing to get nintendo's business These shortages are starting to vanish and i couldn't be more thrilled for all you guys out there hoping to get a switch So yeah, i just wanted to let you know that nintendo is ramping things up Uh regardless if this report is 100 accurate or accurate at all We already know based on our own stock situation that nintendo has done something and we can't wait till october 30th When nintendo will finally tell us If they're going to up their prediction because if they're going to still stick to the 10 million Then this report was probably a bunch of hot wash. Anyways, folks I am Nathaniel Rufflejant from nintendo prime if you like this video, you know what to do And if you dislike the video, that's fine. Dislike it Uh, i will just you know catch you guys in the next one