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The Master Archive!

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Winning the Game of Life

By Keith Taxguy / July 19, 2018 / 7 Comments

Retirement goals and financial independence are important issues. If you’re rich you don’t quit because the “rich” mindset never quits. Before you amass your first dollar, you are already rich if your mindset is right. Your body just has to wait for the money to catch up.

That is why I changed the title of this post. Winning the game of life is the most important part of life. Money plays a modest role. The quality of your life, your dreams, career, goals, family, health and joy, are what count. “Rich” means you’re always looking for the next challenge when a task is complete because you know that it is what brings meaning to life. Rich people never settle for mediocre.

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Should We Run Our Marriage Like a Business?

By Keith Taxguy / July 12, 2018 / 12 Comments

Two and a half years ago when I started this blog I had a vision for what it would become. The original primary goal was to encourage readers to slide a chair around behind my desk and view the world from my side of the desk. I’ve always found the world interesting from my perch. Things I would never know or experience were front and center due to my position in the world. It all fascinated me.

Before long I expanded my vision. I wanted this blog to be a sort of personal journal to my children. When I’m gone (and hopefully while I’m still here) my girls can reference the thoughts of their dad. Some things are modified to protect the guilty (as I like to say), but the flavor is all there. Who and what I am is on these pages. This is the most real me I’ve ever presented. It took decades of writing, learning and growing to reach the point where I was comfortable exposing myself to the world.

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Success is the Best Revenge

By Keith Taxguy / July 9, 2018 / 5 Comments

It happens to everyone: a business partner embezzles funds destroying the company and leaving you with the mess, an ex betrays your trust, a co-worker or supervisor harasses you. It is easy to get angry and fire from the hip. But reaction only makes it worse. To make matters even worse, the person who slighted you gets away clean while your response is dealt with harshly. There is something true to the adage: the second one to throw a punch gets caught.

There is a better way that doesn’t harm any party involved: success. Success is said to be the best form of revenge, but it only works if it isn’t done for traditional revenge reasons.

The German philosopher Friedrich Nietzsche said if your life has a why you can bear almost any how. This is a fancy way of saying your life needs purpose to strive for the important goals.

Money will drive you if your finances are in desperate straits. Once the basics are covered new motivations are needed to keep striving for goals. Sheer love of the process drives some, but this is the minority. The vast multitudes need something more, a prod to keep them moving forward.

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Our Heroes Have Failed Us

By Keith Taxguy / June 11, 2018 / 13 Comments

Anthony Bourdain and Kate Spade were ripped from our lives in the past week in what early reports suggests are suicides. Robin Williams is another star extinguished before his time.

Kevin Spacey betrayed our trust along with a litany of actors and producers and comedians. It seems like an endless parade of successful men ran to the cliff like lemmings bent on self destruction.

Liz Taylor entertained us for decades. As a role model she left us with issues. Marriages came and went until she reached eight husbands over her lifetime. We see the same behavior today without the distraction of marriage in our modern starlets. Adored musicians race from one bed to the next until the world crashes in.

Closer to home we see bloggers and podcasters who failed us. Some crack under pressure while others lose themselves in drugs and cheap whisky. We idolize these people and want to be like them. Then, when we get a closer look, they have warts like the rest of us.

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Increasing Profits and Efficiency in a Tax Office

By Keith Taxguy / May 17, 2018 / 3 Comments

Running a business is similar to conducting a science experiment. Unsuccessful proprietors use trial and error hoping to find a winning strategy. Gamblers do something similar. Successful business owners do things a bit differently; examine where need exists and then search out a plausible solution.

Success is similar across all industries and business sizes. Whether you are managing a massive international corporation, a regional firm, a small local business or running a side gig to pay the bills while you enjoy all life has to offer, the rules of success are similar from top to bottom.

Today we will focus on the side hustle and small local businesses. The conversation will also focus on the tax preparation industry.

I own and run my own accounting practice which is centered on tax and have been doing so for over three decades. What worked in the 1980s and 1990s would bring you ridicule if you tried the same thing today.

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Price’s Law and Why the Early Retirement Community Will Not Harm the Economy

By Keith Taxguy / May 14, 2018 / 6 Comments

The FIRE community has been educating the public in attaining financial independence and early retirement for a decade or so now. Whenever the topic arises it is sure to be followed by the exasperated rebuke, “We can’t all do this! Who will do the work if we all retire at 30? The economy will fail.”

The argument has a sort of logic on the surface. If everyone retired by their 30th birthday there could be a problem. A 50% savings rate could crush the economy! Right?

Or maybe not. A high national savings rate doesn’t harm the economy! The United States had a double digit savings rate in the 1950s and the economy roared. China and many other nations with vibrant economies have high savings rates. A low savings rate seems to be the real problem. In the U.S. we struggled more as our savings rate declined to its current low single digit home.

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Taking the Lottery Out of Scholarship Applications

By Keith Taxguy / May 7, 2018 / 4 Comments

My adrenaline was pumping as I entered the room full of judges and FVTC staff. My entrepreneurship teacher was also running the show. I had to make him proud as my entrepreneurship teacher is the reason I’ve come so far. My pitch went great and the judges seemed interested in my teaching style I created and the opportunities for people in the valley and around the world to become employed by me. I’m an ambitious little thing that doesn’t let my size determine how big my dreams can be.

I won first place at the Fox Trap Pitch Contest. This was one of the first times I’ve seen myself succeed at something and then be told that I need to continue with my plan. I learned many things when I prepared and presented my 90-second pitch. The most important thing I learned was that writing a pitch is nearly identical in writing an essay for a scholarship.

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A Free College Education Made Easy

By Keith Taxguy / April 30, 2018 / 7 Comments

The first turning point came when Heather decided the local technical college was an okay place to start her formal education. She busted her tail working to fund her education so dad relented and provided a modest—around $2,500—of financial support. When my kid puts in the effort I’ll do my best to help them.

Choosing a local college and a career she could reasonable expect to earn enough at to calculate a return on her education investment gave dad hope. Heather likes to travel the way I like to nest on the farm. Heather wants to see Asia. She is in love with the cultures and peoples. The only thing missing was some scholarship money to grease the process.

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