The #1 Error New Business Owners Make, According to a CPA
HTML-код
- Опубликовано: 23 сен 2023
- Watch before starting a new business. Working with 1,000s of clients over the course of my 15 year career this is the top (most common error) new business owners make from a CPAs perspective.
If you are seeking a New CPA:
► My website: www.mikekellycpa.com
► I have 15 years of experience in public accounting. I operate out of Modesto CA.
► My primary services include but are not limited to, Accounting, Financial Statement preparation, taxes, business coaching, tax planning, and consulting.
► The initial consultation to assess your needs is at no cost, however, please note I cannot offer specific tax or business advice until we are engaged to work together. If you are simply looking for consulting my consultation rate is $160/hr.
► The number of new clients I can currently onboard is limited. When you reach out I will let you know if I have capacity.
Good morning all, if you are starting a new business or side hustle I hope this you will avoid the most common mistake I see working with business owners.
Thank you for the information
Thank you for the spreadsheet and all the good tips. Yes, bookkeeping is so fun and keep the numbers in check. 😊👏👏👏
Great to hear always great advice!
Glad you think so! Thanks!
Hope we see a LOT more videos from you soon! Love your videos.
Working on some new ones as we speak. Thanks so much !
Happy fall time, Mike. No business here still. I'm concentrating on Roth conversions while I am in the 12% bracket. I did one last week and I'll do the final one in December when I know what the dividends and other distributions will be. I already have 2024 planned.
Happy Fall Dave! You are wise man with a plan sir. Great work.
I recently got xero for my accounting but honestly your spreadsheet sheet was the one I've used since I started. Now I'm gonna check the one you just mentioned out
I think you will like using "Waves" accounting app.
Mike quick questions what is the CONUS deduction for truck drivers and where would that deduction go? schedule C line 24a? would be amazing if you do a video on trucker and transportation deductions for taxes . 😁@@MoneyandLifeTV
Damn - I almost want to start up in business again. Having you as my CPA would be fantastic for any business . I ahave always enjoyed and benefited from your volgs. Thanks forsharing Damn - I almost want to start up in business again. Having you as my CPA would be fantastic for any business . I ahave always enjoyed and benefited from your volgs. Thanks for sharing 💵 💵 💵 💵 💵
Thanks Ken! That means a lot :)
Thanks for your information. Question. What form do I fill out tax classification from s Corp to llc sole?
What challenges have you overcome running your own business?
I haven’t done anything yet for my business. It just taking me longer than expected
Pray and God opens Revenue out of the blue. 😊
where can i find the profit and loss template?
I'm guilty I need a lot of help don't know where to start 😢
Just another reason to have a rainy day fund
How can I receive a consultation?
Volume is so low compared to other channels
I just bought a lawnmower this year and I started a lawn care business a few months after that can i sell my lawnmower to my buisiness for the price i paid for it and what do i have to do to make that happen correctly
Hi! Great question. There would be no need to sale it to your business. From an accounting perspective you would list the value of the lawn mower as a contribution and the offset would be to small tools and equipment which is an expense account so you can write off the full value. If this is a rider lawn mower that cost $2,000 or more i would list it as a fixed asset on the balance sheet and expense through depreciation. Great question I think my next video will be based on this question. I get this question all the time.
@@MoneyandLifeTV thanks mike! I am glad you are making great content on RUclips again. I know you took a long break from RUclips. I love your content and humor.
Where can i find your profit and loss template
Here you go: www.dropbox.com/scl/fi/2ny7rzx0nhh0hlwtqsm1x/Business-Profit-and-Loss-Template.xlsx?rlkey=abwg3m7wvimf3gumkdumrxcgn&dl=0
@@MoneyandLifeTV thanks
💵 💵 💵 💵 💵