I love math. I love numbers. I always envisioned myself running my own business. So I set goals and knocked down each one.
I worked for a few CPA firms to gain experience in a variety of areas from business and individual taxes, auditing, and bookkeeping for all types of businesses including Sole-Proprietorships (LLCs), Partnerships, S-Corporations, C-Corporations, Non-Profits, and Associations.
I worked with a variety of businesses ranging from Rental Real Estate/AirBnb, Cannabis, restaurants, ice cream shops, donut shops, doctors, lawyers, healthcare providers, and investors from all 50 states, Canada, Mexico, Brazil, the United Kingdom, Uzbekistan, and Monaco.
I did not like the service model at the CPA firms I worked. I felt they needed to move to the 21st century - paperless, more app integration, advisory. The old model needed to be thrown out - manual data entry, wasting time tracking time, no work life balance. In contrast, I wanted to be more client-focused and slow the process down instead of rushing to complete a quota of clients a day.
Is a budget needed? Forecasting? Is more than one product or service being sold? Let's examine which one is profitable. Let's automate workflows. Let's set a timetable for goal achievement.
My goal for this blog is to share my experiences in the accounting field, some humorous, some sad and to enlighten people about accounting concepts that will be useful in business and life.
Clarification of frequently misunderstood tax topics. Also, guidance to develop tax strategies and planning.
Some CPAs are happy with an unorganized mess since they charge by the hour and can charge unorganized clients exorbitant fees.
My first full-time job at a CPA firm with three classes left to earn my dual master’s degree. Goal realized, I thought. Seven weeks in, the Feds raided.
Many employees realized the old work model was untenable and began looking for new ways of earning income. Employees want flexibility, work-life balance, higher pay, and benefits. People just want to enjoy their lives with minimal stress.
The pandemic lockdown gave us time to flow into our natural patterns of sleep, thought, exercise, and rest. Many have lauded the return to "normal", back to being a cog in the machine. Now is the time to break the chains and forge ahead to the future.
All the information you need to know in order to start your own business including a 50-state map and checklist.
Why pay taxes on that rental property you are selling? Since 1921 the IRS allows 100% of realized gains from property sales in a trade or business to be deferred.
"But I do not want to manage another property that is why I sold this one." You do not have to let me introduce you to Delaware Statutory Trusts (DSTs).
