Thursday, May 23, 2019
Home Blog

Israeli Court Rules Bitcoin Is an Asset in Feud Over Tax Payment

An Israeli court has ruled that bitcoin is an asset and not a currency, and thus subject to capital gains tax (CGT).

The Central District Court made the ruling in a case involving a blockchain startup founder and the Israel Tax Authority, which ultimately won the decision, Globes reported Tuesday.

The founder, Noam Copel of DAV.Network, reportedly bought bitcoins in 2011 and sold them in 2013 at a profit of 8.27 million Israeli new shekels ($2.29 million). He contended in court that bitcoin should be treated as a foreign currency and not be taxed.

The Tax Authority, on the other hand, argued that bitcoin is not a currency but an asset, and therefore profits should be liable to CGT.

The presiding judge, Shmuel Bornstein, made the point in his arguments that bitcoin as a cryptocurrency could cease to exist and be replaced by another digital currency. Hence, it cannot be considered a currency, especially for tax purposes.

As a result of the ruling, Copel is now liable for tax of around 3 million NIS ($830,600) as well as costs of 30,000 NIS ($8,306), according to the report. However, Copel can yet appeal to the Supreme Court for a reversal of the decision.

With its ruling, the court has sided with the Israeli government’s position that bitcoin and other cryptocurrencies are considered property for tax purposes. In February 2018, the Tax Authority issued a notice, saying that profits from cryptocurrencies will be subject to CGT at rates from 20–25 percent.

On the other hand, individuals mining or trading cryptocurrencies in connection with businesses, are liable to a 17 percent value-added tax in addition to capital gains tax.

 

COINDESK.COM

The Wundef Show: CEO of Danywise Estates and Construction shares his story

This week on The Wundef Show, the Chief Executive Officer of Danywise Estates and Construction, Frank Aboagye Danyansah joins me and shares his story. Frank is an estate developer and politician. In this video, he explains how he ventured into politics in 2012 and the effects of that decision on his business.

Watch the video here.

https://www.youtube.com/watch?v=4DNdC1Ql4pc&feature=youtu.be

Did you miss my previous interviews, then check them out below:

The Wundef Show: One on One Rev. Daniel Dabanka, CEO of Dabanka Farms

The Wundef Show: The story of Ayelbis Events

Oldest Black-Owned Grocery Store Shuts Down After 51 Years in Business

Leon's Thriftway, Black-owned grocery store

The historic and country’s oldest Black-owned grocery store Leon’s Thriftway has closed its doors in the past week marking the end of its 51 years in the business. Leon Stapleton, the now 93-year old owner, mentioned that poor sales due to lack of support was the main reason for their closing.
Leon’s Thriftaway’s history dates back in 1968 after the assassination of Martin Luther King Jr. The tragedy helped paved the way for an opportunity for Blacks to open a business. Leon Stapleton was then able to get an SBA loan that he used to rent the property where the grocery store has been standing for over five decades.

Vernon Stapleton, Leon’s son who is now 62-years old, said he was just 11-years old when he started working at their family business. His siblings had their first job there and his mother was also a part of the business until she died a few years ago.

However, the store experienced difficult times when they could no longer keep up with the other grocery stores in the area. “Everything’s old fashioned. It’s like from That ’70s Show or something. It needs to be redone, re-imagined, a whole lot of re’s in there,” Vernon Stapleton told the U.S. News.

When the Stapleton family decided to close the grocery stores, long-time customers became sad.

“It’s kind of sad. I hate to see them go,” Eugene Coody, a frequent shopper at the grocery store where he also pays his light and gas bills, and cashes his paycheck, told The Kansas City Star.

“We’re sick about it, just sick,” said Jaunita Jackson, who lives near the grocery. “We have different places we could go but you have to get in the car to get there or have to get on the highway. They have always been nice and friendly. They’ve been a jewel for the community.”

Despite the closing of the 51-year old store, Vernon is positive that they will still be able to continue doing business. Their family owns a liquor store near the grocery and a laundromat in the Seven Oaks strip mall which will both remain open.

“I’m focusing on closing, but I’m not focused on closing for good,” Vernon said. “I don’t have any quit in me and nor do my sisters, daughter, even my father.”

Source link

27-Year Old Black Female Entrepreneur Has Made Over $30 Million as a Freelancer

 

Ashleigh Warren

When she was just 24-years old, Ashleigh Warren quit her 9-to-5 marketing job with only 2 years experience in the industry in order to start her own freelance paid social media marketing service. She made $417,000 in personal earnings her first six months as a freelance social media marketer, and went on to scale her business to even more.
Now, Ashleigh is 27-years old and manages marketing campaigns for the best of the best. She is responsible for over $30 million in revenue on Facebook and Instagram for brands. She’s built multimillion dollar beauty, apparel and lifestyle brands through paid FB/IG ads, further grew preexisting multimillion-dollar ad accounts, created campaigns at a significant scale that returned a 5.05 ROI (not counting Black Friday) and even managed ads for high profile influencers such as Jake Paul, David Dobrik and The Try Guys. She’s even worked with Mike Tyson’s personal brands.

Started from the bottom 

Ashleigh wasn’t always “crushing it” though. Before she got into marketing, she was a full-time student, lived with her parents, and worked 30 hour weeks at Starbucks. They were still recovering from the market crash, so she worked to help her family and provide a little for herself. They lost everything in that crash…their house, cars and even their dog. Her 6 person family was on food stamps and at one point, and they even had to move in with her aunt and cousins in their two-bedroom home just to have a roof over their heads. Crazy enough, Ashleigh never lost hope and received straight A’s that year. She was determined to work hard and have a better future.

Ashleigh got a job at Starbucks and enjoyed an incredible year and a half there, as a part-time Shift Supervisor, but she knew she wanted more from life. Ashleigh didn’t even know what online marketing was at that point, but one day after class, she told herself, “Enough is enough. Go find better.”

Getting introduced to the industry

So she began looking for office jobs on Craigslist. She found an admin assistant/creative writer role for a marketing company. She like what it paid ($15/hr), and she liked that she would be getting more business exposure, so Ashleigh applied and got the position. She changed her school schedule to complete her degree online so that she could work full-time.

Ashleigh was an admin assistant/creative writer for about 4 months and was then offered a promotion to become a Media Buyer. Ashleigh had no idea what that really meant but was down. It paid $40k/month plus a small commission. She learned Facebook, Instagram, Twitter, and Pinterest advertising. Ashleigh quickly became one of the best buyers in the office, her numbers proved this, and she was still a full-time straight ‘A’ student.

Ashleigh appreciated the success but realized she was making this company all of this money, working crazy hours, only to see such a small amount of that profit. So she began looking for better opportunities in this field a few months in. Ashleigh found one, a media buying position that paid $60k + a higher commission, an excellent benefits program, unlimited PTO, a fantastic office space, great people and pretty everything you could want working for someone else. She took it.

Seeing her own vision

What no one knew at this point was that Ashleigh had started looking for her own freelance clients on Craigslist at the same time. What’s even crazier is the only reason she thought to do it, was because her little sister was living with her at the time and she wanted to move back into a nicer part of downtown San Diego, but could not afford a two-bedroom on one salary. So Ashleigh responded to a remote Facebook marketer part-time position days before she had received the new media buying job offer. The Craigslist client reached out to her the SAME DAY she got a call from the media buying company.

Ashleigh decided she was all in and committed to all of it: full-time online student, a full-time job, provide for her sister (a full-time traditional on-campus student at that point) who didn’t have a car and manage a freelance client. Somehow she was balancing it all well, taking her sister to school every morning before work and picking her up late at night, getting straight A’s of her own, succeeding at work – all her accounts were performing to par or above. So two weeks into Ashleigh’s new full-time job she started looking for another client she could personally take on. She searched through Instagram beauty hashtags for clients as she had previously seen a lot of success with beauty clients at her old job. She found a small brand she saw a lot of potential in and sent them an email pitch. They signed a commission based contract with her, and within two months she was making $30k+/month just as a freelancer Facebook marketer because their sales were so good.

Crazy enough, Ashleigh’s success kept growing, clients kept referring her and she officially didn’t have enough time to work full-time for someone else. She had proved to herself that she could work for herself and no longer needed the stability of another company. So she took a semi-comfy leap of faith and quit. She built her freelance business and finished school with straight A’s while doing it.

Enjoying life and business, and helping others

Ashleigh currently resides in Santa Monica, CA, manages a handful of clients monthly, travels the world regularly (check out her IG: @_ashleighwarren to see her adventures) and makes sure to strive for three things above all else in her life: to love what really matters, to consistently outgrow herself and to always give back to people who need a little hope.

Ashleigh has only ever been available to high paying clients, and a few months ago, she decided to change that. For the first time ever, via her personal blog at www.extrabuthuman.com, she explains how she built her business, how she finds clients, how she learned what she knows, and how others too can effectively start their own company online too. She also shares a lot of tips and tricks.

Source link

Matthew Mensah to Speak at 2019 Breaking Down Borders Africa Youth Summit

Multiple award-winning Ghanaian philanthropist, PR Strategist and business man, Matthew Mensah has been invited as a speaker for the 3rd edition of the Breaking Down Borders Africa Youth Summit which will be hosted in Johannesburg.

As the founder of Health PR, Ambassador of Tourism Ghana and GQ’S Best dressed Man in Africa, Matthew will join other speakers from across Africa for the pan-African annual conference for youth leaders from across the continent which will be hosted from 23 – 24 May 2019.

The Summit, hosted under the theme ‘Reclaim Africa’ – is described by organisers as a call to action for young people to work towards an Africa they desire to be a part of. The three day gathering will encourage youth participation in governance, social change and the economy through topics that impart knowledge, engage thought and inspire action. Delegates of the Summit range from young leaders from diverse backgrounds such as media, politics, academia and business – with the aim of driving inter-country relations and collaborations.

Since its inception two years ago the Breaking Down Borders Africa Youth summit has hosted over 200 young leaders representing 18 African countries. This has created a web of collaborations and partnerships across various sectors, movements and communities. As a platform the summit presents an opportunity for young people to connect, learn and create in concert around pertinent areas of leadership, development and how we can right the future of the kind of Africa we want to exist in.” says Founder Paul Modjadji.

The organisers announced in March that this year’s Summit would be the last one to be hosted in South Africa. This would mean that the next Summit, to be hosted in 2020, would be hosted in another African country. The Summit, which not only brings young people together, also celebrates Africa day and month – by engaging in conversations which are led by and serve young people.

The Breaking Down Borders Africa Initiative is a multi-platform initiative that includes education, empowerment drives as well as the conference. Founded by The Leaders Who Dare To Dream Foundation and led by a collective of youth social entrepreneurs, the initiative undertakes efforts to connect African youth through dialogue and conferencing, workshops and arts programmes. Through various partnerships with global NGO’s, government and the private sector, the Conference has driven robust conversation, given a platform for youth thought leadership and the building of networks among African youth in social and commercial entrepreneurship.

Source: Avance Media

 

10-Year Old CEO and Author to Launch New Shoe Line

Kinyah Briggs-Bean, founder and CEO of B Chill Lemonade

Kinyah Briggs-Bean became the CEO of her own company, B Chill Lemonade, at the age of 8, meeting her original goal 2 years earlier. Now 10-years old, Kinyah, who is also a published author, is still running her thriving first company and is about to open a second one — a new shoe line!
At the age of 6, Kinyah’s father Demetrius Braddock, challenged her to open a business of her own by the time she reaches the age of 10 to save up money for guitar lessons she wanted and to teach her a simple lesson for her future. He also thought that if she started young, she still has a lot of time for trial-and-error. What he did not expect is that she could actually create a winning idea at just 8 years old!

“All you really need is one opportunity to actually make it to where you’re trying to go,” Demetrius told Commercial Appeal. “I expected it to happen later. She hit a grand slam at the very beginning.”

Since then, the whole family supported Kinyah with her business. Kinyah, a fifth-grader, serves as the chief executive officer of B Chill. After school, Kinyah finishes her homework and goes to work for some hours each evening. Her 7-year-old brother, Demetrius Braddock II, is the store manager and he also helps at the store after school.

Her father, who has a degree in accounting and teaches personal finance, business, and entrepreneurship at Memphis School of Excellence High, serves as the chief financial officer. Her mother, who is a former law student, handled the legal side of the company. As the business took off, she decided to drop out of law school to focus on her role as the chief operating officer and run the business during the day while Kinyah is at school.

Despite all her success, Kinyah wanted to be low-profile at school. Her classmates only knew about her business when her teacher learned that she wrote a book entitled Chillin’ My Way to Success: The Phenomenal Life of an 8-Year-Old Entrepreneur and wanted to read it to the class. She thought others might think she is getting special treatment because of it.

“I don’t like them knowing,” Kinyah said. “It could be on a positive side or a negative side. I don’t want to take a chance so I just stick with them not knowing.”

In the near future, she is set to launch her new shoe line called Pink Lemonade to produce and sell pink and yellow canvas shoes. It is inspired by her great-grandmother who fought with breast cancer and a portion of the sales will go to breast cancer research.

Meanwhile, Demetrius II is also up for the same challenge and he plans to open a lawn care service next year. While Kinyah’s startup costs were paid by their parents, Demetrius II’s paid position as B Chill’s manager allowed him to purchase most of the equipment in his own company.

“There is a lot that comes with it,” Valerie said. “People see us, but they have no idea, as a family, the hurdles that we have crossed to get to the place where we are now.”

For more information about B Chill Lemonade, visit https://bchilllemonade.com/ or visit their store at 3709 S Hickory Ridge Mall, Unit 460, Memphis, TN.

Source link

Amazon’s New Tiny Store Kit For $4K is Just What Many Black Entepreneurs Need!

Tiny store kit on Amazon

Black entrepreneurs and others from low income areas often don’t have much capital to start a business, but a new tiny store kit being sold on Amazon has changed everything. The retail kiosk can be purchased for just $3,990, and can be assembled within just a few hours.
Manufactured by a company called Allwood, the only tools needed for assembly are a hammer, a saw, a screwdriver, pliers, a drill, a ladder, a level, a box cutter, and measuring tape.

The structure is made from wood and has three service windows, a unique Scandinavian retail design, and features 94 square feet of interior space that does not require any type of finishing inside. They do recommend, however, that the outside of the kiosk should be stained or painted against weather within 3 months after completion of the assembly.

Once announced, the product quickly went viral on social media because it presents an opportunity to thousands of Black and other minority entrepreneurs who simply can’t afford to invest tens of thousands of dollars into a storefront or expo exhibition. This tiny store kit, however, allows them to easily set up a boutique to start doing business right in their own communities and even on their own property if they own land.

Allwood is also the same company that manufactures and sells reasonably priced tiny homes and playhouses that also can be assembled within hours.

To learn more and/or to purchase one to get your business started, visit TinyStoreKit.com or Amazon.com

Source link

5 Black-Owned Dance Companies Hitting the Stage

Students at Black-owned dance theater

From Josephine Baker to Misty Copeland, Black dancers have changed the dance community landscape. Throughout history, however, they’ve experienced exclusion and were often overlooked. Taking matters into their own hands, they began their own dance companies that continually challenge and improve the dance world.

Alvin Ailey American Dance Theater

The Alvin Ailey American Dance Theater, one of the first Black-owned dance companies in the United States, was founded in New York City in 1958. The company has since performed across the world for an estimated 25 million people, in addition to appearing on television, film, and online platforms. The company continues to produce new ballet, jazz, and modern dance works while also honoring those created by Alvin Ailey himself. The company also continues to expand; they recently opened Destination Dance in Atlanta in 2017 to bring the legacy of Allen Ailey to people across the world.

Dance Theatre of Harlem

Dance Theatre of Harlem was founded at the height of the civil rights movement in 1968 by Arthur Mitchell, a student of George Balanchine, and Karel Shook. The ballet company tours both domestically and internationally, performing ballet classics and contemporary works celebrating African-American culture. Dance Theatre of Harlem also offers summer programs for passionate young dancers.

The Philadelphia Dance Company

Founded in 1970 by Joan Myers Brown, The Philadelphia Dance Company (Philadanco) is a nonprofit company that supports dance in all forms. Celebrated for its work in preserving African-American dance traditions, the company produces a diverse repertoire of works, including jazz, modern, and ballet pieces. In 2012, Brown was awarded the National Medal of Arts by former President Barack Obama for her contributions to the dance community. One such contribution was the foundation of The International Association of Blacks in Dance. This organization helps bring light to important issues within the Black dance community and also works to create a strong network of Black-owned dance companies.

Dallas Black Dance Theatre 

Focusing on contemporary dance styles, Dallas Black Dance Theatre seeks to bridge cultural differences through artistic excellence. Since its foundation in 1976 by Ann Williams, Dallas Black Dance Theatre has become the oldest professional dance company in Dallas and has amassed a national and global audience that continues to grow. The company also has its own dance academy that offers classes for children beginning at age four.

Chicago Multi-Cultural Dance Center

Homer Bryant, a former dancer with Dance Theatre of Harlem, founded the Chicago Multi-Cultural Dance Center in 1990. He sought to merge classical techniques of ballet with diverse dance styles that honored African-American culture. Recently, his techniques led to the creation of hiplet, a dance style that combines hip-hop and ballet, which features dancers performing street dance moves while on pointe shoes. Hiplet has become an international sensation, with dancers performing in Germany, South Korea, and Spain.

Source link

Beyonce Reportedly Made $300 Million From Her Uber Investment Despite Shares Plummeting

Beyonce and Uber

Uber went public last week and their shares have been plummeting ever since. Despite this, singer Beyonce has still managed to score a $300 million profit from her investment. Many are wondering how this is possible since Uber’s shares plunged during the first week, closing as low as 17% below its IPO price!
Well, according to The New York Times, Beyonce received $6 million in restricted stock units (RSUs) from Uber co-founder Travis Kalanick to perform at a private company event in Las Vegas in 2015.

Here’s a little bit of information about restricted stock units (RSU). It’s compensation issued by an employer to an employee in the form of company stock that are assigned a fair market value when they vest. Upon vesting, the stock units are considered income, and a portion of the shares is withheld to pay income taxes. The employee receives the remaining shares and can sell them at his or her discretion.

So, Beyonce, although not a regular employee of Uber, was in fact “an employee” temporarily when she performed at the company’s private event. While the exact value of the shares at the time is not known, it can be assumed that the value was around $20 to $25 per share.

But when Uber’s IPO initially debuted, it started trading at $42 per share. So, if she sold her shares immediately despite the IPO plummeting, she could have easily made $300 million or more from her shares.

Another win for the Beehive!

Source link

African Media Agency Partners With Brand Africa To Launch The 7th Annual Brand Africa 100: Africa’s Best Brands

African Media Agency (AMA), a leading pan-African media relations and communications firm today announced that it has become a strategic partner of Brand Africa 100, the widely acclaimed pan-African research and ranking of brands in Africa. The partnership aims to build on the two entities’ commitment to creating and sustaining a favorable reputation of Africa as an entrepreneurial and competitive environment for building world-class brands and businesses that respond to the needs of African consumers.

As part of this partnership, AMABrand Africa and partners, Geopoll, the world’s leading mobile surveying platform with a database of over 250 million respondents in emerging markets around the globe, Kantar, the globally respected consumer knowledge and information company, Brand Leadership (BLG), Africa’s leading brand and reputation advisory, leading global communications firm, Burson Cohn & Wolfe (BWC) and the Johannesburg Stock Exchange (JSE), Africa’s leading bourse, will join hands to launch the 7th annual ‘Brand Africa 100: Africa’s Best Brands at the JSE on 24 May 2019 in Johannesburg, South Africa. First launched in 2011, Brand Africa 100 is a Brand Africa initiative to research, rank and recognize leading African and non-African brands in Africa. It is the first and most comprehensive, authoritative and widely referenced pan-African survey and ranking of brands in Africa.

According to Eloïne Barry, the CEO of AMA, this partnership underlines the relentless focus by the two organisations to improve the continent through telling a positive African narrative that uplifts and catalyses growth on the continent. “We are excited to partner with like-minded organisations committed to sharing an authentic and positive African narrative with the world. It is the core, foundation and inspiration of all our work at the AMA,” says Barry.

Commenting on the partnership with AMA, Thebe Ikalafeng, Founder and Chairman of Brand Leadership Group noted that having worked previously with AMA it was a natural transition to partner with an organization with “an immense knowledge of the African media landscape and passion for communicating a positive African narrative.”

The Brand Africa 100 ranking is based on a survey among consumers 18 years and older, conducted in 25 countries across all African economic regions, which collectively account for more than 80% of the continent’s population, GDP and leading brands and businesses.

Giving an insight on the launch of the 2019 Brand Africa 100 to be held at the JSE, Ikalafeng explained that “brands are shareholders and customers’ repository and barometer of the image reputation of businesses and consequent value that is reflected on their market capitalization on the stock exchanges.”

The rankings are published annually by African Business Magazine and Brand Africa partners. The 2019 African Business magazine’s report on “Africa’s Best Brands” which includes the Top 100 Most Admired Brands in Africa, the Most Admired African Brands, the Most Admired Financial Services Brands and Most Admired Media Brands, will be on shelves globally in June.

To find out more about the Brand Africa 100 or if you are interested in attending the launch please contact charmaine@brandleadership.com

Follow the results #BrandAfrica100. #AfricasBestBrands2019

Distributed by African Media Agency (AMA) on behalf Brand Africa and AMA

Latest posts

Popular