Recent Posts

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Taxes / Property Depreciation
« Last post by tracyloothes on October 07, 2019, 06:45:29 AM »
Knowing the right value of your property and its Brisbane property depreciation is a good way to also know your taxes.
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Average Savings For A Client is 21%  CPAs should see this. We are not a merchant processor and no need to change providers.

This Credit Card Audit focuses solely on expense reduction within the payments industry. Our expertise and experience coupled with our expense reduction process, ensures a competitive advantage over other firms advertising similar services and you no not have to change processors and we work closely with CPAs to help you retain clients & expand your book-of-business.

Our two-phase approach to expense reduction is unparalleled in the payments industry.  We correct the processing plan to reflect the most competitive plan type and rate, using formulated, specific asks of the existing provider.  Our team then works with the client/CPA to further reduce the non-negotiable fees through processing optimization, where we can help qualify payment transactions at lower interchange rates by passing through additional processing data.

We have seen the highest success rate for merchants that process credit card transactions where the card is not physically present.  This is referred to as a Card Not Present (CNP) environment, and includes B2B and eCommerce companies.  Companies processing card payments between $1M and $20M on an annual basis typically have the largest potential savings opportunity.  For card present locations, where the credit card is physically swiped at a terminal device, there may still be significant savings. 

Clint must submit 1-2 recent merchant processing statements along with the Audit Services Agreement in order for us to perform an analysis. 

Our Credit Card department will present findings to Client upon completion of the initial analysis.

After receipt of all / any additional required documentation, we will begin securing lower fees directly with the merchant services provider. On average this process takes 30-60 days from receipt of all client documentation needed to process the lowering of fees.

To begin, visit BusinessRefundEstimate.com and answer a few simple questions and we'll setup a call with you and your client.
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Bookkeeping / Help business cut expenses, expand profits and increase sales.
« Last post by wallmann on September 15, 2019, 10:34:12 AM »
First, we are not a CPA firm.

We actually work CPAs on engineering based tax incentives.

The vast majority of CPA firms don't offer anything like this and that's why we work hand-in-hand with business owners or their CPA firm to help them procure these benefits for you.   

Visit our site now and answer a few questions to see the savings in seconds at BusinessRefundEstimate.com
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How to Become a Wealthy Accountant / Re: How to Get Clients
« Last post by wallmann on September 14, 2019, 01:07:22 PM »
One good way is to offer your services or savings with no upfront fees.

No savings = No fees

  http://bit.ly/2cv3i8O
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Estate Planning / What is the optimum age a prospect should be to take advantage of SRP?
« Last post by wallmann on September 14, 2019, 10:46:44 AM »
When the Stryde Retirement Program is used specifically for retirement purposes, there should be approximately 10 years allowed for the policy to grow. Therefore, the 'oldest' age that a policy would be feasible to fund with the intention of retirement income is around age 60.  (This enables the policy to grow for 10 years and loans can begin as tax free income from the policy at age 70.)

If the policy is being used to fund Estate Planning or general death benefit needs then the maximum age is approximately between 80 - 85. This approximation must take into consideration the health of the client, the network and which carrier we will use.

Note: The average commission on the SRP is $162,000
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Index Funds and the Stock Market / Should I put all my money into an index fund?
« Last post by riddlemb on August 12, 2019, 01:30:36 AM »
I have been reading about frugal living and early retirement since 2014, mainly Mr Money Mustache's blog (which I like) and Early Retirement Extreme (which I don't like), and later on, I found The Wealthy Accountant :)


Saving money is very easy for me. I'm 30 years old, graduated as an Information-Systems Engineer 5 years ago, and manage to save about 50% of my income (the rest goes to rent and food). At this point, I managed to accumulate what would be about 100K US dollars (I live outside the US)


Investing though, is a difficult issue. So far, all my money is sitting in my bank account, doing nothing, for while I read a lot about FIRE and investments, all the guides were from the US, and it took me a lot of time and effort to understand how things work locally. That said, now, after reading Jim Collins' Stock Series, posts by John Bogle, Warren Buffett, MMM, and The Wealthy Accountant, I think I have a clear understanding on how index funds work.


My issue:
I live outside of the US, in a very poor country and without any family or relatives. Nor do I have any assets. All my net-worth is those 100k in the bank account I managed to save. And I wonder, is it wise to put it all into an index fund? (VTI, if to be specific). Owning a real estate is a big problem here. For example - being an engineer with a relatively high income, I get what would be 2,900 USD after takes. Half of this sum goes to rent and food. A what would be considered here as a "cheap apartment" costs 374,000 USD.


I am getting the impression that in the US, index funds are not the main source of investment/ income after early retirement. Keith and Pete, for example, own multiple real estates, and Pete clearly stated in one of his posts that his main source of income is the house he is renting, then the blog and the co-working space, and only after that, his stocks portfolio.


Thus I wonder: putting all my money (and keeping putting each month all that I save) into 100% VTI feels wrong, but I have no idea what else can I do wit the rest of the money.


Side note: Pete also once said: "an investment is anything which generates you money by simply owning it, even if you can't sell it", well, index fund doesn't really fit this description - the dividends are low, and most people relay on the fact that someone is going to buy their stocks in the far future for a high price.
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I need a Tax Accountant to Help Me With ____ / Solo401k and taxes
« Last post by SteveR on July 28, 2019, 04:13:09 PM »
Hi,

I'm invested in a number real estate syndications through my solo401k and am discovering that there actually are some scenarios that would trigger a tax liability.  I'm looking for someone who can help evaluate the tax issues related to these investments.  My current CPA isn't able to help as he's not familiar with this area of tax law. 

thanks

Steve
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How to Become a Wealthy Accountant / Re: Tax Preparation Training
« Last post by Joshua on July 27, 2019, 11:45:57 PM »
Hey Keith,

I'm pursuing my EA license now, working at a CPA office and finishing up school. I'm taking all these courses but quickly finding out I'm not learning anything (proper term may be retaining). I need more hands-on to feel like this type of material will stick but haven't had the chance. Long story short I want to open my own firm within the next five years. What would be the best course of action to get some more hands on? Are there any courses you recommend that really helped you out after you became a CPA.
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How to Become a Wealthy Accountant / Re: Why Drake over Intuit?
« Last post by KeithTax on May 27, 2019, 08:37:04 PM »
Matt, I don't recommend Drake Accounting over QBs, but asked if anyone was moving in that direction. I have yet to fully explore Drake Accounting. There are some things I find easier with Drake (e-filing, for example).

Once I flesh the whole thing out and have a few employees also give their approval I'll the info along. Until then it is a work in progress.
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How to Become a Wealthy Accountant / Why Drake over Intuit?
« Last post by Matt on May 26, 2019, 08:17:19 PM »
Hey Keith,
I was wondering why you recommend Drake over other tax and accounting software products? I know you that Drake is well known for their service response time. Drake's pricing is a bit cheaper but comparable to others. It seems like the majority of folks use Intuit products like ProConnect and Quickbooks. So then if I wanted to win business from a small company that uses QB, wouldn't it make sense to use QB Accountant? Appreciate your thoughts.
Thanks,
Matt
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