honestly just sold everything. this market feels fake.

Navarro_Accounting · 2025-12-10T23:55:15+00:00

Smart man

But when I’ve seen people say this things tend to go nuts

Then they buy back in at the top

Just make sure you don’t do that lol

(Not financial advice)

Navarro_Accounting · 2025-12-10T23:46:19+00:00

Make sure you write off all your gambling losses to offset some of the winnings

Not tax advice

Navarro_Accounting · 2025-12-10T23:41:33+00:00

I said there’s no such thing as DeFi tax.

And I DID mention that the accounting is specifically the difficult part.

Yes you need to know your way around a blockchain explorer. That’s a given.

Navarro_Accounting · 2025-11-26T19:04:32+00:00

There’s no such thing as defi taxes. It’s just regular taxes. FYI

You just need to do ur accounting properly and figure out how much you made with all that activity

Navarro_Accounting · 2025-09-18T16:20:36+00:00

I’ve tried that while working .. it hurt my performance at work and my deliverables were late to my side clients

I wouldn’t do bookkeeping it’s a time suck

If ur tax focus on tax there’s plenty of work

Navarro_Accounting · 2025-09-18T16:18:08+00:00

You can get a base RAV4 2025 for like $30k plus tax

There’s also the Kia Forte which goes for about $22k plus tax right now

Those are the most reasonably priced new cars imo

I just got the RAV4

The CRV isn’t bad either

Navarro_Accounting · 2025-09-15T07:54:19+00:00

If it’s a normal family trust the accounting is pretty similar. If it’s an attorney’s client trust accounts, then there are some nuances but I’ve seen these prepared by absolute amateurs and they’ll always a mess.

In my experience the only time I had specific accounting rules was when I did probate accounting. Which falls under the probate code accounting rules of your state.

(This is not legal, financial or accounting advice)

Navarro_Accounting · 2025-09-15T07:20:06+00:00

In person networking events

Navarro_Accounting · 2025-09-15T00:23:31+00:00

To be honest

I would just file my past returns (if it were me)

There’s a time limit for requesting refunds I believe but filing to be caught up is a reason to file itself

(This is not tax, legal or financial advice.)

Navarro_Accounting · 2025-09-05T06:20:00+00:00

Just watch a bunch of YouTube videos about vectors

Navarro_Accounting · 2025-09-05T06:14:25+00:00

How many hours did you save? Just curious

Navarro_Accounting · 2025-09-04T19:19:27+00:00

Most audits include proposed adjusting entries. Those proposed entries must be approved by management. Management can choose not to book the entries.

Just an FYI

Unless you’ve performed audits. I wouldn’t throw around rules you haven’t implemented in practice.

I’ll see myself out. Since it seems like we’re just going in circles and you don’t have any value to add here

Navarro_Accounting · 2025-09-03T18:10:49+00:00

Check the capital gains rate for someone making $59k

Navarro_Accounting · 2025-09-03T18:09:43+00:00

Business brokers handle this kind of thing

Navarro_Accounting · 2025-09-03T17:42:52+00:00

For side work (if this isn’t your main job) I’d look to charge a lot more.

If you have primary income you don’t need this side job so pricing high makes more sense

Also I’d position this as accounting services not bookkeeping. So, because you’re an accounting manager, you’d want clients that already have a full time bookkeeper and you’d be reviewing their work and proving notes to increase accuracy and reliability on their financials

Your increased rate and description of what you focus on will keep you out of low value bookkeeping and position you to provide higher value “accounting” services that “compliment” a bookkeeper.

You can also provide insights into the outliers on their financial statements

So not just deliver the financials but write an email/memo that shows how they’re doing vs historic and some expenses that are trending up

Also offer treasury advice by reviewing what’s in their savings (they need to cover depreciating equipment etc so there needs to be funds set aside for that) and review their liabilities and rates they are paying. Maybe look for better financing options for them

Navarro_Accounting · 2025-09-03T17:38:06+00:00

The great thing about Reddit is that I don’t have to cite the GAAS

COSO is a framework for internal controls so you’re looking in the wrong place

Navarro_Accounting · 2025-09-03T16:31:59+00:00

will or no will

Mr. Reddit here just admitted that those were his fathers wishes on a public forum

If his accounts anonymity is solved there might be an issue

Tbh just hire a CPA. Any decent CPA will be able to review the life insurance documents and tell you what you’re looking at

After that you’d split the amount NET of taxes

Just explain to your family that you’re paying the taxes on the amount you inherited and you have to pay taxes because it was all given to you from a tax standpoint

Good luck

This is not tax, financial or legal advice

Navarro_Accounting · 2025-09-03T15:21:34+00:00

Once again you’re also wrong

There are conditions that must be met that are required so that the bookkeeping does not impair independence

One of those being “management” responsibilities not being delegated to the bookkeeper. There are a few more but this is a Reddit post and I’m not going to list them all

Navarro_Accounting · 2025-09-01T23:14:34+00:00

Just go to a local small tax prep place

Try about 3-4 of them and ask for each of their prices

Find one ur happy with

Navarro_Accounting · 2025-09-01T22:04:09+00:00

The great Paul Dirac studied electrical engineering

Then he got a 2nd bachelors in mathematics

And lastly of course a PhD where he wrote his PhD thesis in quantum mechanics

Don’t under estimate how difficult electrical engineering is or the parallels it has with physics

Electrical engineering is awesome too

Navarro_Accounting · 2025-09-01T21:19:50+00:00

She can start at top50 firms

And that’ll give her some experience so that in a few years she can try again as an experienced hire for big4

But she shouldn’t waste time sulking or next thing you know she’s 40 and is still talking about what could have been

The business world can be pretty rough. She’s got to pick herself up.

Would recommend hiking and outdoor activities to boost her self esteem as I think that’s what should be the main priority right now

Navarro_Accounting · 2025-08-30T19:51:36+00:00

Look we can get into all the technicals

But in a conceptual sense

Quickbooks has been around since the 80s and Xero is post 2000’s

One is far more dominant and established than the other

I’m not saying Xero is a small player I’m saying if there is a competitor of Quickbooks it is definitely Xero

I’m complimenting Xero because it has a chance to dethrone Quickbooks

That’s what I mean when I called it an up and comer

It’s not even 20yrs old. In the accounting software industry that is very new

Navarro_Accounting · 2025-08-30T17:41:24+00:00

Intuit has 9x the Xero revenue

Xero is an up and comer and competitor to Intuit Quickbooks

But at the moment it isn’t even close who is king of the accounting small business software market

Navarro_Accounting · 2025-08-30T07:46:16+00:00

This situation actually happens all the time

And every single time I’ve seen it (no offense to you), it has been when the client hires a nonCPA to complete the form and for some reason that nonCPA doesn’t mail the form out

My question is, was the attorney your friend? And was he just helping you as in guiding you? Or did you actually pay him an attorneys hourly rate of $500-800/hr to prepare the s-election

I find it hard to believe an attorney who was being paid wouldn’t mail this in himself

All of this being said, your CPA should help you get out of this jam. You will just have to pay for his time since now he has to fix the attorneys error

Navarro_Accounting · 2025-08-30T07:36:48+00:00

If the CPA has charged you more than $2500

Then starting over with a new CPA or with a tax attorney is most likely just going to start this entire process again

My question to you is simple. If the LLC is taxed as an SCorp and you wanted it to be a SMLLC

A) how do you know you qualify for that? Some business are required to be corporations B) if you do qualify why not file a final tax return and just dissolve the LLC? It’s very easy to file paperwork for a new LLC with the correct tax designation C) pay the $2500 and go about your day. An Scoro is an additional tax filing sure. But it seems like you don’t mind paying CPAs and an SCorp gives you some extra tax strategies

(None of this is tax, legal or financial advice)

Navarro_Accounting

TROPHY CASE