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The Retired Workaholic

By Keith Taxguy / May 10, 2016 /

There are certain characteristics common among people who achieve early retirement. Saving and investing are a serious part of the lifestyle of an early retired individual. Another common strait is a nervous energy to get things done. People who retire early, or at least can, tend to work hard and save.

I am an unusual type of retired person. Travel does not interest me, nor does sitting around. Like many people headed for an early retirement, or already there, I am full of pent up energy and filled with ideas and full of curiosity. So the question begs asking: What do you do once you are retired?

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Finding Balance in the FIRE Lifestyle

By Keith Taxguy / May 5, 2016 /

In the beginning it is hard to tell if you love your work because you have to work. That is why we preach early retirement here; not to bow out of life as soon as possible, but to live the life you want. Once you have amassed a large enough nest egg you are retired even if you chose to continue working your job. FIRE allows you that freedom.

Once you have moved beyond the need to work a job many people continue to do so. Self-employed people are the worst. I know, I’m living it! Just because you can quit doing what you do to earn income does not mean you should. If you enjoy the work environment, co-workers, clients, and the work itself, why would you quit? There is no shame in doing what you love as you work toward financial independence and even afterwards.

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The un-Free

By Keith Taxguy / May 3, 2016 /

A letter was waiting for me on the kitchen table. My daughter had a letter from school. “What’s this?” I ask. My daughter was all smiles as she says, “I made Student of the Month.” Mrs. Accountant was not as excited as she should have been and I know why. Her bullshit meter goes off as easy as mine. I read the letter and discovered there is more than one Student of the Month. In fact, there are a lot of Students of the Month. And here is the coup de grace that set off the BS meter in Mrs. Accountant: Our daughter gets a free meal at a certain restaurant with all the other “Students” of the Month. Of course, mom and dad have to fork out an armload for their meal and mom and dad are required to attend the function if our daughter is to get her meal gratis.

Free: The one word in the English language sure to get people to look. It is used by marketers and scam artists alike with great skill. It is the most dangerous

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Living Without Money, the Spending Fast and Buy Nothing Day

By Keith Taxguy / April 29, 2016 /

The Western word is being destroyed by a select group of people determined to live within their means. From artist Ted Dave and his Buy Nothing Day movement to Daniel Suelo who decided to live without money to Jeff Yeager and his spending fast to Mr. Money Mustache and his grand scheme to keep spending low, even when income rises, we face the greatest economic crisis of our generation. Or are we?

All too often we act as if the economy were an actual living being. It is not. The economy is only a construct of the human imagination. Can you image any animal living in crisis because their local economy collapsed? Even humans, thousands of years ago, did not worry about this crazy thing we call the economy. Somewhere between there and here we convinced the vast majority of people they are duty bound to feed this imaginary beast.

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Valuation: Warren Buffett Style Investing

By Keith Taxguy / April 24, 2016 /

In the course of my work I am frequently asked to place a value on a business a client wants to sell or acquire. There are several ways to determine value in such situations. Today we are going to focus on the value of listed companies (stocks). Warren Buffett has stated most people should drop their money into an index fund and let it ride. If you are like me you follow Warren’s advice, but invest a portion of your money in individual stocks anyway.

There are numerous books on Warren Buffett and his style of investing. These books glance over the process Warren uses, focusing on tidbits of advice Warren has given over the years. Reading Graham and Dodd’s Security Analysis exposes how difficult it can be to value a company. Since Graham and Dodd, our understanding of value creation has grown and Warren Buffett uses the new analysis tools in his investing style.

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Work is a Four-Letter Word; Fun is Much Better

By Keith Taxguy / April 20, 2016 /

Another tax season is in the books as I write this. After thirty years in the business I am always surprised by how much my business grows and the industry changes. This year I received a major push from Mr. Money Mustache. His blog introduced a larger world to the crazy and wacky accountant from Wisconsin resulting in over 12,000 requests for help. Sure, I know the industry is understaffed and the level of super tax professionals is low and declining. But this was insane!

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File Your Taxes With a Missing or Incorrect W-2 or K-1

By Keith Taxguy / April 17, 2016 /

As the tax deadline approaches we will discuss two problems preventing you from filing your taxes: missing or inaccurate tax documents. Some small employers forget to send W-2s preventing you from filing your taxes; other businesses may send incorrect forms. K-1s are even worse. With a K-1 you may not even know what the numbers should be and they always come late in the tax season.

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File an Extension to File and an Extension to Pay Your Taxes

By Keith Taxguy / April 14, 2016 /

The tax due date is fast approaching. This year your tax return or extension is due by Monday, April 18th. If all your paperwork has not arrived or you are unable to file your return by April 18th, file an automatic extension with Form 4868. Here are some tips about an extension to file:

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