Bitcoin Falls 54% Below All-Time High! What Does This Mean For You?!

That is the BIG, BIG question as Bitcoin plummets -by 54% from its recent all-time high to the $30,000 mark.

These are incredible times and who is to say the revolutionary coin won’t suddenly soar back up to another all-time high as it has done already TWICE this year?

As it is, the markets are in something of a freefall and are literally brimming with amazing trading investments opportunities as FEAR and FOMO continue to reign!

CRYPTO NEWS
Why is Bitcoin’s dramatic fall so HUGE? Well, you can find out in our latest Trades Of The Week for in-depth analysis – but, in a nutshell, this time around, Bitcoin’s drop was actually caused by TERRA LUNA.

As you may know, Terra Luna’s stablecoin was recently pegged to the US dollar – i.e. 1 stablecoin = 1 dollar. But what happens when you don’t have enough cash reserves? You get unpegged!

The big thing here was Terra Luna then sold all its Bitcoin holding to get re-pegged!

Wow!

Then everything came down like dominos!

It means, for us investors, there are some very enticing propositions available right now, not only with Terra Luna but ETHEREUM, CRYPTO.COM, AVAX, MATIC, HEDERA HASHGRAPH, and ENJINCOIN which is down a whopping -82%! The others are sitting at between -50% to -75%.

BUT that was not the only surprise this week… as SOLANA found itself in the middle of an investor storm which lasted 7 hours. Let’s just say it had something to do with 4 million transactions per second!

As shocking as this was, it’s all part of cryptocurrency’s evolution – so don’t panic!

What else?

Oh yes… with high fashion house Gucci now accepting various cryptos as payment, including one notorious “joke” coin, it has left our founder Marcus contemplating capitulating and buying “some of the damn stuff!”

Can you guess which one it is?!

BUFFALO

We have been short and long for a while now – but there is a reason for that, it’s called hedging and we believe you must always be hedged.

And being short when the markets go down is when we make our money, as we will do with TMCI, AIRBNB, MBI, TWI and MTDR which are all locked in for guaranteed profit.

MARKET NEWS
As mentioned earlier, there’s still extreme fear in the markets, bearish moves in the major indices, US30, US 100 – US30 had Black Thursday, dropped nearly 1000 points to 2%, NASDAQ dropped 5%, largest moves since 2020 and start of the pandemic.

Why? Inflation, increase in interest rates, the war in Ukraine, and Covid lockdowns in China, are all combining to cause fear.

US30 really dictates where the market is going because it’s the top 30 companies in the US. When the US30 drops, it means big Blue Chip companies are taking a hit. When the US30 falls below 30,000 then Blue Chips may fall further… this is all great of course for our VCA opportunities!

BUT, as ever… be aware! If the market falls don’t be scared, our strategies are there to buy as the market falls and sell when the market rises.

It sounds simple to do – but it’s not easy because one has emotions when money is involved.

That’s why we never look at the money, we always look at percentages.

And talking of BLUE CHIPS… more great news as these are fantastic times to be buying a part of some big-name firms, some of whom are down -20% to -30%.

Names to entice you – COSTCO, BEYOND MEAT, ADOBE… and wait for it… even AMAZON!!

Down -36%

Have you ever heard of this before? No! It’s just too good… and we even made healthy profits with our VCA’s JOHNSON & JOHNSON and ACTIVISION.

An In-Depth Look at the Advantages and Disadvantages of No-Credit-Check Payday Loans

Understanding No-Credit-Check Payday Loans
No-credit-check payday loans are a form of short-term borrowing designed to bridge the gap until the borrower’s next payday. Unlike traditional bank loans, these loans typically bypass extensive credit checks, making them accessible to a wider range of people, including those with poor or limited credit histories. The application and approval processes are conducted online, offering convenience and speed to those in need.

The Benefits of No-Credit-Check Payday Loans
Accessibility and Convenience
The online nature of no-credit-check payday loans means that the entire process, from application to funding, can be completed without leaving your home. This digital approach eliminates the need for in-person meetings and paperwork, streamlining the borrowing experience. Once approved, the loan amount is directly deposited into the borrower’s bank account, often within the same day.

Minimal Eligibility Requirements
These loans are known for their straightforward eligibility criteria. Typically, lenders require proof of stable income and basic personal information. This simplicity makes payday loans an attractive option for those who may not qualify for traditional bank loans, including individuals with lower incomes or less-than-perfect credit scores.

Unsecured Borrowing
Payday loans are unsecured, meaning they do not require collateral. This feature is particularly appealing to borrowers who do not own assets to pledge or who are reluctant to risk their property. The absence of collateral also simplifies and expedites the approval process.

The Drawbacks of No-Credit-Check Payday Loans
High Cost of Borrowing
One of the most significant disadvantages of no-credit-check payday loans is their high cost. These loans often come with steep interest rates and fees, reflecting the lender’s increased risk of lending without a thorough credit check. According to the Consumer Financial Protection Bureau, the annual percentage rate (APR) on a typical two-week payday loan can be as high as 400% (CFPB).

Potential for Debt Traps
Critics argue that no-credit-check payday loans can lead to debt cycles. Borrowers who struggle to repay their loans on time may face hefty penalties and fees, which can quickly escalate the cost of the loan. It’s essential to have a solid repayment plan in place to avoid falling into a debt trap.

Targeting Vulnerable Borrowers
There is a perception that no-credit-check payday loans target low-income individuals by offering small loan amounts that seem manageable but can lead to financial strain. While these loans can provide necessary assistance, they should not be seen as a long-term financial solution for those with limited means.

No Credit Building
While no-credit-check payday loans can offer immediate financial relief, they do not contribute to building or improving your credit score. Timely repayments of these loans are typically not reported to credit bureaus, meaning responsible borrowing behavior goes unrecognized in your credit history.

Conclusion
No-credit-check payday loans can be a viable option for emergency financial needs, offering quick access to funds with minimal requirements. However, the high costs and potential risks associated with these loans make them unsuitable for non-urgent purchases or for those without a clear repayment strategy. It’s important to consider your financial stability and explore all available options before proceeding with a payday loan.

Interesting statistics and facts about payday loans that are often overlooked include the demographic profile of borrowers. According to the Pew Charitable Trusts, the average payday loan borrower is a white female aged 25 to 44 years. Additionally, borrowers are typically those without a four-year college degree, renters, African Americans, individuals earning below $40,000 annually, and those who are separated or divorced (Pew).

Before considering a no-credit-check payday loan, it’s advisable to explore alternatives such as credit union loans, personal loans with co-signers, or financial assistance programs that may offer more favorable terms and help improve your credit score.

The IRS is Accepting 2290 Filings For The 2022-2023 Tax Year

Importance of Filing 2290 Forms on Time
The IRS is now accepting 2290 filings for the 2022–2023 tax year. The IRS has set a deadline of August 31st, 2022 for all 2290 filings. Businesses who have already been filing 2290 forms can continue to file their 2290 forms online through the IRS authorized e-file provider. New businesses, however, should use the updated forms for the next tax year. The updated forms can be found on the IRS website. If you have any questions, you can contact the IRS.

The IRS Encourages Form 2290 Pre-filing
The IRS encourages taxpayers to pre-file 2290 forms before the year-end deadline to avoid possible Hvut penalties. The IRS is now accepting 2290 filings for the 2022-2023 tax year in the month of June. Taxpayers can E-file 2290 forms online at the IRS website or with an approved Form 2290 e-file provider. The IRS also encourages truckers to file their 2290 forms electronically every year, which will be a benefit. Taxpayers who are not familiar with the process of filing 2290 forms can contact the IRS for assistance. The IRS also provides a step-by-step guide for filling out 2290 forms.

Required Information to File the Form 2290

To file the Heavy Vehicle Use Tax Return with the Internal Revenue Service, the filer must provide the following information.

Employer Identification Numbers, Names, and Addresses are examples of business information.
Vehicle information such as Vehicle Identification Number, Taxable Gross Weight, and Month of First Use
Payment method for Heavy Vehicle Used Tax preferred.
Payment Methods to Pay 2290 Taxes
The Internal Revenue Service provides the following four types of payment methods for HVUT payment:

Electronic Funds Withdrawal (EFW) if filing electronically: If you use the EFW payment system, then you must require a bank account number, routing number, and type of account.
Electronic Federal Tax Payment System (EFTPS): For using the EFTPS system, you must enroll in the EFTPS program to pay taxes.
Check or money order using the payment voucher: you must complete the payment voucher form 2290-V and mail it to the IRS. You must mail a payment voucher before the deadline.
Debit/Credit card payment done on the IRS site: Now, you can pay your tax through a credit/debit card by going to the site IRS.gov/PayByCard.
How to Prepare Form 2290 for the 2022-2023 Tax Season?

With the 2290 tax season upon us, it’s time to consider how to prepare for it. The 2290 tax form is a very unique and complicated form to fill out because it’s the only form that the IRS requires truckers to fill out if they have taxable vehicles or suspended vehicles and if they want to drive any of those trucks on US roads for business. It’s not just about completing the form though. You also have to make sure that you have everything you need to fill out the 2290 tax form. If you don’t have the right documents, you’ll have a very hard time getting 2290 done on time and you may even get penalized by the IRS. So, it is better to choose pre-file Form 2290 with an IRS-approved Form 2290 E-file provider.

If you want to get your tax filing for the year 2022-2023 done before the year ends, then you need to start preparing for it now. Ideally, you should have all the correct documents in hand and a good plan on how to prepare your taxes. Start filing your 2290 tax return with Truck2290 to help you file your taxes in a jiffy. This is a better option than paying a professional to do your taxes. Good tax software is easy to use and can do the job well. It can also save you money.