Nick Sailer @SailerTax Twitter profile | Pikagi

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Nick Sailer

@SailerTax

778

Followers

348

Following

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895

Statuses

I am not a financial advisor. Building a tax business with a day job in equity compensation. Focused on optimization, health, taxes, personal finance & growth.

STL / Green Bay

https://t.co/1HklxqE4T2

Joined March 2013

Don't wanna be here? Send us removal request.

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@SailerTax

Nick Sailer

5 months

The reason I got into taxes was to help people play the tax game by implementing tax strategies A full tax season taught me that almost no small business owner even has a good set of books I don’t really see how I can give tax strategy without first getting books right

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@SailerTax

Nick Sailer

8 months

@sweatystartup If their cars were referred to as a sweaty startup would that make you feel better?

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@SailerTax

Nick Sailer

3 months

Sometimes I feel bad about not being a CPA, but then I see something like a CPA having $30k of "bad debt" expense on a cash basis tax return (1120s) That's got to just be waving a flag asking for an audit I feel pretty confident I'm bringing the average up

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@SailerTax

Nick Sailer

8 months

@girdley Born in 98. 1) When people want to have a call that could have been settled with a message 2) Autonomy. I don’t want to be hovered over or have more contact than needed

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@SailerTax

Nick Sailer

8 months

@ tax twitter: What would you charge for the absolute easiest return of all time: Single filer W2 Refund due E-file/DD I told this family friend they could TurboTax themselves bc it was so easy but they wanted my price They said it was too high $ for how easy the return is

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@SailerTax

Nick Sailer

4 months

Note to any college students getting a business admin degree: Do yourself a favor and change to accounting Was looking at my transcript to see if I had credit requirements for CPA and was disgusted at the amount of useless general business classes I took and learned nothing

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@SailerTax

Nick Sailer

5 months

Everyone thinks their CPA sucks if they aren’t proactively reaching out with tax advice: I’m putting a massive effort in May to push tax advisory services for all existing clients They won’t be able to leave and say I didn’t give them an opportunity to plan Big differentiator

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@SailerTax

Nick Sailer

5 months

I made it through tax season. Hardest I’ve ever worked In the end, I prepared about 45 returns - mix of biz and personal. Spent tons of time learning as I went Next steps: Finish EA Process improvement for next year Sell recurring services Happy to have time to tweet again

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@SailerTax

Nick Sailer

8 months

@picotop I actually feel like this could work for a lot of women

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@SailerTax

Nick Sailer

7 months

Good things come to those that do something. Was too nervous to tweet for years, and now after about 25 days of making an effort on X: - Added 200 followers - Made 2 really solid business connections - Consistently engaged with interesting people and topics Thank you all

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@SailerTax

Nick Sailer

3 months

@mountainwesttax Dave Ramsey mutual fund rate of return right there

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@SailerTax

Nick Sailer

8 months

@sweatystartup The average employee also doesn’t have something inside them that makes them feel useless if they don’t have their own business For some people it’s not really a negotiable thing at a certain point

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@SailerTax

Nick Sailer

8 months

@meetmikehiggins Also I have nothing to back this up but I think children raised there have more of a work ethic/drive to work than I’ve seen in other places

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@SailerTax

Nick Sailer

7 months

@bhallcpa Your tweets on tax strategies and things to look out for are by far the most insightful and readable that I’ve seen on X

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@SailerTax

Nick Sailer

8 months

thinking about it now I probably could have done the return faster than writing this tweet and made $ for dinner. Oh well

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@SailerTax

Nick Sailer

8 months

@TikTokInvestors I refuse to believe this is a real thing that goes on

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@SailerTax

Nick Sailer

4 years

After careful consideration I am re-entering the Twitter gauntlet as an active user. I fully expect to gain much fame and notoriety from this venture. I apologize to past followers who will have no interest in the content to come

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@SailerTax

Nick Sailer

4 months

My first hire is starting tomorrow. I hired sooner that seemed absolutely necessary but think it will speed up business growth and my own development in running a business Primary duties: Bookkeeping/payroll Client communications Personal assistant type tasks Any tips for me?

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@SailerTax

Nick Sailer

8 months

Starting a business is easy. Not quitting in the first year is hard. Everything is exciting when you start when you think you have a great offer and haven't had to do any of the real work yet. Here are 5 things I've told myself in the last year that have kept me going:

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@SailerTax

Nick Sailer

8 months

Is credit Karma a complete POS product? I had to migrate from mint (can’t believe they shut it down) and was optimistic but this is basically just 4 different pages of ads for loans. Garbage

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@SailerTax

Nick Sailer

8 months

Clients when I answer all their questions on a 30 minute discovery call and they know they will never talk to me again

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@SailerTax

Nick Sailer

8 years

Solid regular season and the Freedom cheerleader even made us a sign #22 -1 @WIBallCentral

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@SailerTax

Nick Sailer

2 years

Found a live chess game in a Milwaukee establishment and had to call next. Covering the ground rules before I hit him with the scotch opening

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@SailerTax

Nick Sailer

5 months

For example, how can I tell a client that they can save $10k by paying their 3 children when I know there’s no way in hell they will do it properly Thinking I need to wrap bookkeeping into any service that I offer - everyone thinks they do it right but it never is close

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@SailerTax

Nick Sailer

8 months

@Budgetdog_ Confirmed 1.04 BTC owned 😎

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@SailerTax

Nick Sailer

3 years

I swear my CRV more comfy to sleep in than most beds

@daltmthomp

Dalton M. Thompson

3 years

This man really got home from work and said goodnight in his car..10 feet away from his bed..in his house.. @sbaumannn come get your mans

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@SailerTax

Nick Sailer

8 months

I already quoted way below my minimum because the ease - Maybe I could have just done for $100 to be nice but I stuck to it on principal

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@SailerTax

Nick Sailer

2 years

@friedoystercult I arbitrage roughly 40 of my free hours per week for full time employment to earn regular income

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@SailerTax

Nick Sailer

3 years

This press is the pinnacle of my existence

@MBUAthletics

Missouri Baptist Athletics

3 years

A friendly chess match during the lunch hour to keep the mind fresh! Who ya got in this one? Manager of Athletic Operations Nick Sailer or @MBUMensSoccer coach Jake Alvernia?

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Nick Sailer

8 months

@hedgefundmafia I always feel bad when a college kid tells me their summer internship is with Northwest Mutual. I’m sure they didn’t want to be the worst type of human but here they are

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@SailerTax

Nick Sailer

6 months

@LorilynWilson I also love all $100k being taxed at 24%…. Who made this!!

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@SailerTax

Nick Sailer

2 years

Tip for keeping your microwave clean: cover your dishes containing food that could splatter (like spaghetti sauce) with tin foil

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@SailerTax

Nick Sailer

2 years

Arbitrage opportunity: burnt cheese Purchase scrap cheese from all your local restaurants for pennies on the dollar, burn and package the cheese, and upsell. Potential for huge margins

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@SailerTax

Nick Sailer

8 months

I finally lost a hard-fought, 3 year battle... Romeo is the name

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@SailerTax

Nick Sailer

8 months

@ReaperCapital That's the territory we were beginning to enter... Almost better off just quoting too high to give them the confidence to do it

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@SailerTax

Nick Sailer

8 months

@cbriancpa So many people want their taxes done for the same cost of self filing on TurboTax- and with that means they’ve been doing their taxes wrong for years. Not worth the hassle for the already low fee they want to pay

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@SailerTax

Nick Sailer

1 year

My girlfriend is crying because one of her final 4 teams just lost- she doesn’t even watch basketball

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@SailerTax

Nick Sailer

8 months

@KurtBenkert

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@SailerTax

Nick Sailer

2 years

Brushing up on my manipulation this Presidents’ Day

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@SailerTax

Nick Sailer

3 years

I wonder if past trauma correlates to how long you can be driving before realizing you don’t have any music playing

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@SailerTax

Nick Sailer

1 year

Making a burger for dinner tonight

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@SailerTax

Nick Sailer

3 years

Two types of people

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@SailerTax

Nick Sailer

4 months

I see QSBS listed as a tax strategy on here all the time but rarely is a massive limitation ever listed: You must be a qualified small business. This excludes services business like: Health Law Engineering Consulting The definitions can be a grey area, but important to note

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@SailerTax

Nick Sailer

3 years

Man inflation hitting hard they only gave me half a cheese

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@SailerTax

Nick Sailer

8 months

@greg16676935420 They get cleaned automatically when they’re pulled though the back anyway

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@SailerTax

Nick Sailer

3 years

I won btw

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@SailerTax

Nick Sailer

7 months

If you're a business owner, now is such a crucial time for you to get your taxes right. Not for your 2023 filing, but for doing 2024 the right way. You set yourself up for much more stress and taxes paid if you ignore 2024 taxes til next tax season. Get set up and stick to it.

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@SailerTax

Nick Sailer

8 months

@LoganGrafTax @seattle_tax It's hard because tax filing has become so commoditized. It really feels like a race to the bottom at this point. So many 30 min "consults" I can tell are completely wasted when they ask the price at the end of the call.

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@SailerTax

Nick Sailer

6 months

Small business owners will open a QuickBooks account, connect bank accounts, and auto-categorize every transaction and send their PNL, BS, and GL at the end of year It’s a mess. Just found $35k of business loans categorized as income in a clients GL ~$8k tax savings right there

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@SailerTax

Nick Sailer

7 months

Finding the balance between hustling vs building a business is hard My biggest challenge right now is not seeing a path to being able to delegate what I do When you are the product, your “business” isn’t scalable Glad I am identifying this early and can adjust

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@SailerTax

Nick Sailer

8 months

@jamestheright1 @camp_wealth When RSUs vest, they are subject to ordinary income tax on the value of the vested shares The price at vest date becomes your cost basis if you hold the shares So selling right away at vest takes away the chance of capital gains/loss because your paying tax on the full value

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@SailerTax

Nick Sailer

5 months

@cordes_tax I told a client on a sales call today that I was not a CPA - I could see the disappointment in their eyes... lol

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@SailerTax

Nick Sailer

8 months

A goal of mine in 2024 is to get more comfortable spending to earn more. Frugality is good to a point but I’m learning that it kills you when trying to ramp up a business

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@SailerTax

Nick Sailer

8 months

An important lesson I received at 21: A few of your buddies from college will randomly call you in the next 10 years If they work for Northwest Mutual, they are not your friend anymore They unfortunately are now detestable and you are about to be sold whole life insurance

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@SailerTax

Nick Sailer

8 months

Remote is life changing IMO. I have no doubt that I'd thrive in an office M-F. However, when you work in an office you have to build your life around work; when you work remote, you can build work around your life. That's the best way I can explain it.

@zeromarketshare

Erik

@zeromarketshare

8 months

I'm in my mid 20s. I work a W2 in the office 8-5, five days a week. I tell this to friends/family members under 30 years old and they can't imagine working in the office full time. Some have recently been called back in and are looking to quit because of it. Can't decide if

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@SailerTax

Nick Sailer

2 months

I use Tax Planner Pro as a tax planning/estimate tool for small business owners It's great, but there's something I love about building a custom tax calculator in Excel for specific clients... Nothing beats quick inputs and instant results

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@SailerTax

Nick Sailer

2 years

Just now realized Qdoba includes queso and guac for no addtl charge and all these years I thought I was saving money saying I didn’t want either

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@SailerTax

Nick Sailer

6 months

I’ve seen a lot of people get smoked by this: - Make $100k in first year of biz - Owe $30k taxes - Get overwhelmed and not file - Realize at end of year you need to file - Owe another $30k for current yr - $60k in hole - Money stress Pay you estimated taxes

@baldridgecpa

Mitchell Baldridge

6 months

There is a tax trap I see novice business owners fall into- The first year they make good money they get HAMMERED with taxes for the first time They have a great year where they make a lot of income. They have to do three things- 1. Use the profit of the business to capitalize

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@SailerTax

Nick Sailer

3 months

The 3 big tax strategies you hear far too often: Bonus depreciation on vehicle Augusta rule Paying your children Here’s my Top 3: 1. Optimizing S corp salary / QBID 2. HSA/401k 3. Don’t buy crap that won’t help you make more $ than it costs for “write off”

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@SailerTax

Nick Sailer

8 months

I got an MBA immediately after my undergrad I honestly don’t know if I learned a single useful thing. If anything it would be: - I don’t hate HR - Some useful financial accounting/finance topics Still was worth it because my employer paid for it and it helped me land next job

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@SailerTax

Nick Sailer

2 years

@futureformerJD $PZZA is the only pizza chain for me

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@SailerTax

Nick Sailer

3 years

@JoelEmbiid That timeout was a peace offering but nobody understood

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@SailerTax

Nick Sailer

8 months

@RampCapitalLLC Limited downside, exponential tax free upside. Do it do it

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@SailerTax

Nick Sailer

8 months

@baldridgecpa Agreed. For a kid born around 1998, the market was basically flat until they went to college in 2016

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@SailerTax

Nick Sailer

2 years

True story: the E*trade baby Super Bowl commercials of the late 00s are the reason I use etrade today

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@SailerTax

Nick Sailer

8 months

Guys after 6 months of barbell bench: My shoulders are shot and you feel it more in pecs from dumbbell so I’m switching to db Guys after 6 months of dumbbell bench: I want to feel something again so I’m switching to barbell

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@SailerTax

Nick Sailer

8 months

@DailyTaxMemes Thank you. Are you in a larger metro area? I’ve heard from multiple people from my small town that they pay literally like $200 for itemized deductions, rental props etc. it’s insane. almost like competition hasn’t made its way there yet.

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@SailerTax

Nick Sailer

4 years

These keep me going man

@FridaySailer

Congrats Sailer, You Made It To Friday!

4 years

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Nick Sailer

7 months

You don’t need to re-invent the wheel or do anything magnificent My outlook on life/achievement has boiled down to this: Seemingly insignificant, accurate actions taken consistently over time will compound into something great Let time be the factor on your side

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@SailerTax

Nick Sailer

8 months

@LorilynWilson - Depreciation and depreciation recapture - S-corp reasonable salary - Real estate write offs for high W2 earners

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@SailerTax

Nick Sailer

8 months

@indexnforgetit Equity compensation - become an expert in stock plans and awards that companies give their employees/contractors. CEP certification opens doors

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@SailerTax

Nick Sailer

3 years

@SportsCenter @Mike_Schmitz @JaMorant That high school training vid has big Jameis Winston vibes

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@SailerTax

Nick Sailer

8 months

@bhallcpa Great post - follows the idea of don't let the tail wag the dog. Some clients are so interested in tax deductions that they want to make negative ROI purchases. I ask if that purchase will help them grow their business/personal wealth. If not, it's not worth the tax savings.

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@SailerTax

Nick Sailer

8 months

20 minutes from Green Bay. On 20 wooded acres. What more could a guy want?

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@SailerTax

Nick Sailer

8 months

@bhallcpa Proper accounting is what turns self employment into a small business

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@SailerTax

Nick Sailer

8 months

There’s a big difference between building a business and a side hustle I find myself taking on too many freelancy type projects outside of my core services It’s worth it for now cause l learn/gain reviews with each new project, but at some point, the transition must be made

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@SailerTax

Nick Sailer

8 months

@InvestWCayden I’m working on the same right now. For onboarding realized the best resource is the sheet the QB gives you and wrote some SOP on it. Will be on to COA/client training next. Shoot me a dm if you’d like to share notes. Following for other recommendations too

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@SailerTax

Nick Sailer

8 months

@Love2Travel That is awesome - thanks for sharing! That is what I recommended as well and told them what to look for

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@SailerTax

Nick Sailer

7 months

What does this mean? It means if you have a high paying W2, you will take home a higher % of your self employed earnings It probably also means that an S-corp election wouldn't make any sense Make sure your accountant is aware of this when filing and planning END

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@SailerTax

Nick Sailer

9 months

Play stupid games (fantasy fb) win stupid prizes (nothing every year)

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@SailerTax

Nick Sailer

2 years

@privatebankass Don’t get me started on thanking farmers

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@SailerTax

Nick Sailer

7 months

One of the best tax saving strategies is having a W2 job. What?? Everyone knows that your W2 job has Social Security and Medicare taxes withheld. The employEE pays a rate of 6.2% SS and 1.45% MED. The employER also pays a rate of 6.2% SS and 1.45% MED. This totals 15.3% 👇

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@SailerTax

Nick Sailer

9 months

I have no clue how or why but this actually came out of my mouth for the first time this week. Was disgusted with myself

@SailerTax

Nick Sailer

1 year

Corporate Americans saying cheers in emails feels very wrong

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@SailerTax

Nick Sailer

8 months

@money_cruncher So you’re telling me if I file an llc in my step mothers name I still have to pay taxes?

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@SailerTax

Nick Sailer

3 years

@sbaumannn feels this I think

@viagrafaII

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3 years

“GO, GO!! YOU COULD’VE GONE”

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Nick Sailer

2 years

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@SailerTax

Nick Sailer

2 years

I did this yesterday and my worst nightmare happened. Dropped the filter on the way to the garbage this morning

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@dougboneparth

Douglas A. Boneparth

2 years

I’ve read the top 100 books on personal finance so you don’t have to. Here’s the number one take away: 1. Make your coffee at home

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Nick Sailer

8 months

The juiciest tax saving/wealth building strategies is buying real estate (residential or commercial biz) and bonus depreciation Unfortunately, to do this right I want to know where I’m going live for the next 30 years and I’m not ready to commit to that yet

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@SailerTax

Nick Sailer

8 months

IF YOU HAVE AN S-CORP: Make sure you have an accountable plan set up right now to reimburse yourself for personal expenses like: Home office Vehicle expenses/mileage Internet I have talked w several biz owners this month who want to deduct like before they filed for an s-corp

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@SailerTax

Nick Sailer

8 months

@noahkagan Do anything possible to reduce the time from idea to first sale. Learned this lesson when I built website, ads, etc for a virtual tour biz a few years ago then was too scared to sell. Did not make this mistake w my tax biz last year. First thing I did was sell to 2 people.

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@SailerTax

Nick Sailer

2 years

@privatebankass Unpopular opinion- having a record of your income and expenses is key to financial success, this is called a budget

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@SailerTax

Nick Sailer

8 months

@Budgetdog_ I want them to think I’m a tightwad! Makes life easier

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@SailerTax

Nick Sailer

4 years

Your friendly reminder to subscribe to Paramount Plus to stream Spongebob the Movie: Sponge on the Run. and Ben Rudin sounds like Ben Shapiro at 1.5x

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@SailerTax

Nick Sailer

8 months

The best part about owning a business is that you get to make the big decisions instantly In a 9-5 career, it might take 10 years before you’re even in a position where you can make a strategic decision that would impact business success/failure It’s fun to have ownership

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@SailerTax

Nick Sailer

4 months

- Leadership in free enterprise - Consumer behavior - Communication strategies in business - Management concepts - Business in global environment All complete garbage - Knowing I could have taken all sorts of accounting makes me kick myself I have BS in business and MBA

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@SailerTax

Nick Sailer

3 years

@sbaumannn @daltmthomp Everything I do is calculated u can’t tell me that’s not smart

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@SailerTax

Nick Sailer

8 months

@cordes_tax @DailyTaxMemes Dude this is so true. My one buddy pays a guy $90 and my grandmother pays $75 to another. I don’t even understand

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@SailerTax

Nick Sailer

3 years

Bench players always secretly root for their team to lose

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@SailerTax

Nick Sailer

7 months

I need a business attorney to partner with to send business for my accounting clients on things like entity formation, operating agreements, business transactions etc. DMs open if interested. Any accountants have recommendations on how they handle these things?

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@SailerTax

Nick Sailer

2 years

Tubi just gave me a heart attack

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