The Level Up Podcast w/ Paul Alex - How My Business Covers My Ferrari Lease and Saves Money

Episode Date: August 6, 2024

Welcome to "The Level Up Podcast" with Paul Alex In Episode 115, Paul shares a personal story about how his business covers the lease payment for his Ferrari and offers insights on how starting a business can help you save money and achieve financial freedom.Key Highlights:Transition from Law Enforcement to Entrepreneurship:Paul made a leap from a secure job to becoming a full-time entrepreneur.The rewards of this transition include the ability to lease a Ferrari, covered entirely by his business.Generating Multiple Streams of Income:Diversification is crucial for financial stability and flexibility.Revenue sources include digital marketing, consulting, and merchant services.Tax Benefits of Running a Business:Certain business expenses, like a portion of vehicle leases, can be tax-deductible.Reducing taxable income through legitimate deductions can lead to significant savings.Consult with a tax professional to understand eligible deductions and ensure compliance with tax laws.Financial Discipline and Strategic Planning:Running a business encourages wise investments, effective budgeting, and strategic opportunities.These skills enhance both business growth and personal financial health.Creating a System for Financial Success:Owning a business can provide the means to afford luxuries while teaching valuable money-saving skills.It's about creating a system where your assets work for you, covering expenses and generating wealth.“Your Network is your NETWORTH!”Make sure to add me on all SOCIAL MEDIA PLATFORMS:Instagram: https://jo.my/paulalex2024Facebook: https://jo.my/fbpaulalex2024Youtube: https://jo.my/ytpaulalex2024Linkedin: https://jo.my/inpaulalex2024Looking for a secondary source of income or want to become an entrepreneur?Check out one of my companies below to see if we can help you:www.ATMTogether.comwww.Merchantautomation.comFREE Copy of my book “Blue to Digital Gold - The New American Dream”www.officialPaulAlex.comLeave a review, like and share to help others and let’s level up together!

Welcome to the Level Up Podcast. I'm your host, Paul Alex. I went from being a cop to an eight-figure entrepreneur that helps average people like you and me make money every single day. I created this podcast to help you get motivated and to crush your goals. Let's win together.

Remember, I have your six. Get ready to level up right now. So today I wanna share a personal story about how my business is able to cover my lease payment for my Ferrari F8 and how setting up a business can help you save money and life. If you're looking for motivation to start your own venture, this is going to be the episode. So this might just be the push you need today. A few years ago, I made the leap from secure job in law enforcement to becoming a full-time entrepreneur.

One of the many rewards of this transition has been the ability to lease a Ferrari, a dream car for many car enthusiasts, including myself. But here's the exciting part. My business covers the entire lease payment. Paul, how? How is that possible? Through smart financial planning and leveraging business opportunities, guys. That's how. So when you own a business, you have the ability to generate multiple streams of income. This diversification is key. For me, it's about having the revenue from various sources, such as digital marketing, consulting, merchant services, and ATMs. These multiple income streams provided the financial stability and flexibility needed to cover a significant expense, just like a Ferrari lease payment, guys.

So another advantage of running a business is the potential tax benefits. Certain business expenses, including a portion of your vehicle lease, can be a tax deductible if the vehicle is used for business purposes, guys. You're probably wondering, well, Paul, how do you use it for business purposes? Guys, I'm a marketer. I'm a digital marketer. I'm a business owner. Guys, I need to promote my businesses. And what better yet to promote your businesses by having a trophy like a Ferrari. So this can significantly reduce your taxable income, leading to savings, guys. Great savings. Also, you always want to consult with a tax professional to understand what deductibles and deductions you're able to be eligible for and ensure you're compliant with tax laws, guys. And at the end of the day, it all comes with levels. So with every

new level, there's a new devil, right? Setting up a business also encourages a mindset of financial discipline and having strategy behind planning what you're going to do with your revenue. You're more likely to invest wisely, budget effectively, and seek opportunities that maximize your return on investment. This financial strategy not only helps your business grow, but it also enhances your personal financial health. So owning a business can provide the financial means and benefits to afford luxuries like a Ferrari, a Lamborghini, or whatever it is you guys want, while also teaching you valuable money-saving skills. It's about creating a

system where your assets work for you, covering expenses and generating wealth. If you're on the fence about starting a business, remember that the awards extend beyond financial freedom. They offer you a lifestyle of opportunities and smart financial growth. So thanks for tuning in to the Level Up Podcast. I'm Paul Alex, encouraging you to take the entrepreneurial leap, setting up your business, managing your finances wisely, and watching how it transforms your life, guys. So until next time, guys, stay hungry, stay motivated, stay hustling, and let's keep leveling up. Remember, I always have your six.

Make sure to share this episode with your family, friends, and anyone you care about. The world's already hard enough and we need to take care of each other. Make sure to share this episode on Instagram, Twitter, Facebook, and share it with the world. Do me a big favor and tag me, Paul Alex. Also, keep the five-star reviews on iTunes coming. This episode is going to help change the way the world thinks and will help everyone level up in their life. And lastly, if you want to continue to level up in their life. And lastly, if you want to continue to level up, learn more about business and life, then make sure to get a copy of my book, From Blue to Digital Gold, The New American Dream on Amazon or at officialpaulalex.com.