Small Business

The Master Archive!

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Starting a Successful Seasonal Tax Preparation Business

By Keith Schroeder / February 22, 2017 / 9 Comments

Readers of this blog are always looking for a side hustle. Seasonal tax preparation is a perfect fit for many early retirees. A small tax preparation business allows for an earlier retirement as the side income can easily be enough to live on for even a modestly frugal person. Another large reader demographic involves the…

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The Clock is Ticking

By Keith Schroeder / February 17, 2017 / 2 Comments

When my accounting practice went from a part-time seasonal pastime to a full-time firm I needed to bring in talented employees. Bev, a close friend of the family, had many years of experience working for other tax firms so I asked her to work for me. She accepted the offer. Decades started to pile up.…

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Deal Breakers for Investors and Business Owners

By Keith Schroeder / February 6, 2017 / 0 Comments

The most dreaded words a salesperson can here are, “I need to talk it over with my accountant.” Accountants have a reputation for breaking deals. Behind the scenes we are actually called ‘Deal Breakers’ as a derogatory term. But the name isn’t fair. What we really are doing is protecting our clients. The investor or…

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Organize Your Life to Maximize Net Worth and Minimize Taxes

By Keith Schroeder / January 17, 2017 / 1 Comment

The following post is based on a presentation I gave at Camp Mustache SE in Gainesville, Florida on January 15, 2017. There are several ways to convince someone to speak at your event. Stephen Baughier used the most sure-fire method ever. Stephen noticed I wrote a blog post back in August listing some people I…

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If I Were an IRS Auditor

By Keith Schroeder / January 11, 2017 / 4 Comments

The IRS has a complex formula in determining who to audit so secret even the government doesn’t know what it is. This secret is the subject of much debate and some even claim to know the formula. (They also have the secret formula to Coca Cola.) In my neighborhood if you have an S corporation…

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The Tax Loophole You Never Thought Of

By Keith Schroeder / December 30, 2016 / 5 Comments

When someone in the local area makes the news for embezzlement it is not a matter of if they will show up at my office, it is when they show up. The same scenario plays out every time. Someone gets caught with her fingers in the cookie jar (usually for gambling) and charges are filed.…

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The Gift of Karma and the Art of Pay It Forward

By Keith Schroeder / December 28, 2016 / 0 Comments

I settled back with a good book on a quiet New Year’s Eve back in the early days of my accounting practice. Mrs. Accountant goes to bed early and was already tucked in. We rarely party or go out on New Year’s Eve. To us it is just another day. My tax office back then…

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Making the List

By Keith Schroeder / December 26, 2016 / 3 Comments

A reader of The Wealthy Accountant recently offered me lunch. I have a weakness when it comes to food. Offer me a free meal and I am virtually a prostitute. I accepted the offer of lunch for three reasons: 1. He is a local reader; 2. He asked nicely; 3. He wanted to discuss quitting…

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