An entrepreneur has many hustles and various pursuits. It is with great joy and excitement I share with all of you my latest endeavor: Fashion
Coming in 2018, is a company I am officially launching called 49/51 Clothing & Apparel. This has been in the works for quite some time. That time however, is finally here.
How Did This Come About?
Well…As businessman and entrepreneur, annually I have to report my earnings and revenue for Chris Inc. & Grand CITY. Something I noticed most entrepreneurs leave out when they speak of owning and running a company is taxes.
Well for me, a few years ago, around 2014 while sitting with my tax guy and my accountant, they revealed to me some information I was unaware related to tax-write offs. At the time, I believed ALL clothing items bought for business purposes (i.e. speaking engagements, etc.) could be written off at tax time. For years, thanks to old school guidance from my dad, I kept all my receipts in safely tucked away in a shoebox and received deductions based on events I had participated in over the course of the year that could be written off.
During tax time, I would gladly walk in to my tax guys office, with a shoebox full of receipts as proof of purchase to qualify for my tax deduction. This particular year, as I handed the shoebox over to my tax guy, he slowly opened the box, looked at three or four receipts, closed the shoebox and handed it back to me.
He said “None of this is deductible!” I said, huh? He went on to say that, “Only clothing items with your name and/or brand on it, is now deductible.” It was during that moment, my light bulb went off. It was also during that moment I was extremely upset. I was pissed at the time but more importantly, I had forfeited hundreds if not thousands of dollars that year, but, on the bright side of all of this, money wasted, taxes owed…my clothing company was born that day.
I’ve Always Had A Passion for Fashion
Then…As a lover of fashion, a lover of words and a lover of simplicity, I like to look good. I like to wear exclusive things, things that not everyone has. So, with that being my mindset and having the experience, really the loss I tooked that year, it just made business sense for me to create and wear my own clothes.
Although I will not officially launch my clothing company until January, 2018, for my readers, fans and supporters, my store is fully ready, stocked and best of all, shipping is free through the holidays. Feel free to browse items I have available and more importantly support. I will keep the designs simple, yet profound.
Shop now. Thanks in advance for the love and support.
It’s hard work but it’s honest work! #BlackExcellence
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