Stalking the Sleeping Accountant

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The dog days of tax season are here. I’m dead tired and not as caught up as I was a week ago. Missing documents and research put me in a minor bind. Still looking good, but for the record, I took a short nap at my desk Friday. I was cooked. I’m off Saturday, but working Sunday to prepare for a phone meeting with Mr. Money Mustache. The quiet, empty office is conducive to massive productivity. You’d be surprised what no interruptions can do to a guy’s efficiency.

 

An AWOL winner from our last drawing made an appearance.

Rich S from Philly collected his $50 Amazon gift card and wanted me to remind everyone his Eagles are the Rockin’ Super Bowl Champs! Rich is on a roll I would say. Congratulations and thanks for visiting.

Talking about money being given away and drawings, we have yet another drawing this upcoming week. Check the details on the Where Am I page. Consider using your winning with the Amazon link from this blog to recycle cash back into the system. It all goes to a good cause: charities and you.

 

I forgot to mention some tradelines news. I talked with Darren a few weeks ago and promised to mention they are experiencing high demand. If you want put some serious coin in your pocket read the previous articles I published on the topic.

Article 1

Article 2

Or just contact Darren to start earning some ca-ching fast.

Call:  888-844-8910

www.TradelineSupply.com

Darren@TradelineSupply.com

2534 State Street, Suite #433

San Diego, CA 92101

Mention The Wealthy Accountant to receive a bonus on your first tradeline sale.

 

There were some concerns when I first announced my suggestion to use Tradeline Supply to sell your tradelines. It seems my earlier work was well worth it as the concerns were unfounded and Darren and his team have grown into an industry leader. You can expect to earn anywhere from a few hundred dollars up to a thousand per hour invested in selling tradelines. This is one of the most powerful side gigs I know of. If you understand tradelines you can retire before you ever start it’s so lucrative. Check it out.

 

Back to taxes. Time is running out. S corporations and partnerships are due next week Thursday. File an extension if you need it. If you need help use the contact button to see if my office can fit you in or at least get an extension. We are getting more selective as our schedule tightens, but are still looking at all requests. If you do your own return, consider the link below. You will have access to the same commercial grade tax software used by nearly 50,000 tax offices, including mine.

 

Finally, I have a volunteer to help with Camp Accountant. I haven’t had a chance to confirm due to the weight of tax season bearing down on my shoulders. Karen K, I’ll be in touch soon.

 

Enough about business. It’s time for a break. Here is some entertainment I’m sure you’ll enjoy!




What I’m Reading

Yesterdays post forced me to bring out a blast from the past. Nick Murray’s book, Serious Money, was an integral part of the story. After all these years it was time to partake in some of the old pleasures. Serious Money is hard to find. Used copies are available on Amazon, but unless you are in securities sales it isn’t a necessary buy. It’s also pricey since so few copies remain in the world at large.

 

What I’m Watching

Last weekend I took both days off! Yeah, I’m just as shocked! I was so tired I spent much of last Saturday watching educational videos. I want to share a few interesting presentations here.

When I can’t sleep I watch old Looney Tunes cartoons. I was snoring within minutes with this selection. Consider it a subliminal education.

 

I thought this next piece by Milton Friedman, recipient of the Nobel Memorial Prize in Economic Sciences, was an excellent way to better understand inflation.

 

Abbot & Costello always make me laugh and after a hard week of toil I enjoyed this piece on loafing. Ah, those were the days when a guy could join the union and get paid serious money to be a real loafer.

 

Finally, for all you kind readers who lust for a project that puts a few extra cents in your pocket, an experiment to get free lighting from magnets taken from an old microwave.




What I’m Listening To

I got this darn song stuck in my head all week. Now you’re infected. Sorry.

 

My game plan for next week is pretty short: prepare tax returns. Repeat. I keep reminding myself this too shall pass. Five weeks left.



Posted in

Keith Taxguy

7 Comments

  1. Dave on March 10, 2018 at 11:05 pm

    Thanks for the recommendation a while ago on The Daily Stoic Journal. It’s been an interesting thought exercise most days. At least, something to think about in between thinking about client’s returns.

    As I’m a manager at a local accounting firm, I’m curious as to what your advice would be as to how to move up the ladder. Or if there was someone in your office that wanted to move up, what your advice would be. As I have a few ideas, but getting another perspective is usually helpful.

    • Keith Taxguy on March 11, 2018 at 8:10 am

      Dave, there are so many factors affecting your question. How big is the firm? What position do you want to be promoted to? What are your skill sets? The smaller the firm the fewer opportunities in some cases. There might not be a place to advance to!

      With these points in mind, there are two things I would consider when promoting an employee in my office: level of competence and leadership skills. An employee who shows skills for positions in a higher pay grade will be considered whether they actively seek the promotion or not. I would make it clear to your supervisor (or owners, or partners, et cetera) your interest in advancing in the firm. Never be afraid to ask for the sale or promotion. Also make it clear your commitment to the firm and desire to bring even more value.

      Leadership is another highly sought talent. Most think they have it; few do. I’ve offered leadership books on this blog. It’s a good place to start. If you have competence and the ability to lead the company will find you of greater value. This leads to promotions and higher salary.

      Most of all make sure you are adding value to a company at each level. If they take you up on your offer and find you are not profitable (or less profitable) to the firm in the new position it’s easier to let you go than demote you. Demotions rarely, if ever, work, so don’t become a victim of the Peter Principle (Google it).

      • DAVE on March 18, 2018 at 10:39 am

        Keith, thank you for the advice. The firm is roughly 55 professionals in size. The only potential jump for me would to be promoted to partner (and even then, I doubt it would happen in the next 1-2 years, given the nature and size of the firm). I’m fairly strong technically in individual and corp taxation, though do know that I need to work on business development (but have been meeting with new potential clients and am planning on ramping up speaking engagements after tax season) and training/mentoring of staff members. I’ll dig up the leadership books you have mentioned. So, thanks again.

  2. Mikey on March 11, 2018 at 6:59 pm

    Hey Keith,

    This seems like a great question for someone in the throws of tax season! If you had to start all over with a fresh office, bare bones, what would you start a practice with?

    • Keith Taxguy on March 11, 2018 at 9:06 pm

      I’m not sure I understand the question.

      • Mikey on March 12, 2018 at 9:20 am

        If you were starting a tax practice today, with your knowledge but none of your current assets. What would be on your must list to be comfortable opening an office. Obviously you would have a computer, printer, and tax software. But what often overlooked purchases would you make? What type of insurance would you carry, if any? What additional software/hardware would you want? Basically, anyone can start a practice with the basics, but what have you learned over the years that would help a new practice?

        • Keith Taxguy on March 12, 2018 at 9:41 am

          Mikey, if were starting today I would be cloud-based out of the gate so I could work anywhere. I would integrate technology as I did way back when with e-filing. Things like Gruntworx and scanners can take a lot of the drudge out of the daily grind reducing stress and increasing profits. It also virtually eliminated errors.

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