Taxes and Investing

The Master Archive!

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Reading Financial Statements for Profit

By Keith Taxguy / October 7, 2019 / 9 Comments

The knowledge doesn’t have to come from you, I continued. You would be surprised how often the best insights come from other students as they ask questions and debate answers. 

As I said to Kimberly, it is unlikely we will ever cross paths again. There is nothing to lose. Nothing to be embarrassed about. This was not about personal gain; it was about paying-it-forward. It is the only thing that gives life meaning; helping others find meaning in their’s.

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Health Update and Camp Accountant

By Keith Taxguy / September 30, 2019 / 11 Comments

Several false starts have finally ended in a real Camp. The changes were important. I was pushed to do a Camp by someone else’s rules and it kept falling apart. I finally decided to have the Camp right where I want it: a short walk from my tax office. 

I also decided I would run it my way. These things are a lot of work and I expected somebody else to do all the lifting. I would show up would be my contribution. That does not work.

Instead of the traditional FI and FIRE camps around the country, I settled on a one-day event. I brought in two speakers and all attendees get a Wealthy Accountant t-shirt. We also will tour my office so the proletariat can see how the bourgeoisie works in his natural habitat.

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$20 Million “Change the World” Giveaway

By Keith Taxguy / September 16, 2019 / 14 Comments

Both debt buying hedge funds I managed did well; the first significantly better than the second. More important than the money was the experience I gained. I know the intimate details of buying, selling and collecting debt.

And I have contacts. 

When I ran across the John Oliver video I had to watch. Nothing much has changed since I ran those halls. 

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Financial Horror Stories

By Keith Taxguy / September 4, 2019 / 11 Comments

It is temping to think you know more than you do when your stash grows. Success gives the illusion of intelligence. When the crisis arrives the illusion evaporates. 

Please, kind readers, use common sense. If you don’t fully understand the concept and the financials then take a pass. Better to miss a deal than to go all-in on a scam.

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The Fleecing of the FIRE Community

By Keith Taxguy / August 19, 2019 / 20 Comments

The willingness of so many to embrace this concept without serious thought made me nervous. The only relevance we got from the developer was, “They are doing it in Europe with great success.” And since we are in Florida, I have some land I’d like to sell you, too.

One thing was clear. The FIRE community, the FIRE movement, has reached critical mass. There are enough people with cash available to fleece. The old Microsoft Support Scam and IRS Scam are peanuts to what can be pried from the fingers of this group.

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How to Analyse a Stock

By Keith Taxguy / August 13, 2019 / 17 Comments

Back in the 1980s when Peter Lynch was the name you listened to when it came to expert stock advice a unique situation existed.

Savings & Loans were going public at a torrid pace. Once it was discovered how much money could be made, every S&L couldn’t covert to a bank and issue public shares fast enough. Lynch made a killing for the fund (Magellan) he managed at Fidelity.

The biggest problem was getting enough shares. Non-customers of the S&L were frequently locked out of the offering. Even depositors of the S&L could only buy a limited number of shares.

Most S&Ls were small. But there were thousands of them! 

Shares usually went public at $10 or thereabouts and almost always saw a sharp increase the first day of trading. Gains of 60% and more in the first month of trading were not unheard of. 

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Commingling is Killing Your Wealth

By Keith Taxguy / August 5, 2019 / 6 Comments

Commingling of funds (mixing business and personal funds) is one of the riskiest things you can do, causing serious legal and tax problems. 

The issue is less acute from a legal standpoint if you are a non-LLC sole proprietor. There are still plenty of tax issues, however.

LLCs and corporations are at extraordinary risk when funds are commingled. Treating your business as a personal fiefdom instead of a separate entity—which it is—can cause serious legal and tax issues down the road. We will deal with both issues in this post.

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Unique High Interest Savings Accounts Few Know About

By Keith Taxguy / July 30, 2019 / 9 Comments

Interest rates have barely lifted from ground level and are already headed lower. In the U.S. short-term interest rates are at least positive. My EU and Japanese readers are not so lucky, facing negative rates.

Low interest rates are bad enough, but watching your bank balance decline is a downright nightmare for savers. If you are close to or in retirement this can cause great financial harm.

Because rates are likely to stay at these low level for the foreseeable future and there are many safe alternatives paying more, I will publish a special report each month highlighting one of these short-term, money market-like investments. Every effort will be made to address opportunities available to as many readers across the planet as possible.

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