Roger Ledbetter
@rledbetterCPA
I lower cost of capital for SMB and Real Estate owners through tax and accounting | Tax and Accounting niche emails in 🔗👇
📢 One Big Beautiful Breakdown of the One Big Beautiful Bill 📢 A monster thread of the most relevant parts of the newest tax law:
Developing prospects into clients and developing managers into partners are wildly different skill sets.
Tax preparers who generally ignored the Interest Limitation and R&D rules over the last few years seeing those rules get reversed
If you are a young CPA and want to start your own firm, you'll need to: • Source new clients • Hone your technical niche • Reply to emails and calls quickly All things that would make you a great employee and get you promoted. Try doing those things first where you are.
Talked to a guy who had won the game yesterday Retired, good nest egg in 401k and brokerage Then he told me his plan to avoid taxes on the 401k withdrawals Plans to buy STRs every year and use bonus depreciation to offset the tax - he’s 67 This is the definition of letting…
No truer words ever written
Optimism Has No Place In Accounting by Charlie Munger
"And then we'll create accounting software for accountants with an account called Ask My Accountant." "Why? Won't that just provide a false sense of accomplishment? Aren't they the accountant?"
"Yes we have an operating agreement, but why do you need that for the taxes? Our old CPA never asked for it."
What I'm convinced my intern sees when I explain why cash cannot be negative
When the client tells you they drove 10,000 miles for business and replies that "Yes, I kept a log"
Shout out to the one tax pro who recorded a step up in basis on a rental property by recording 15 year goodwill instead of land and building. When asked, he replied it was for the lease agreements and "know-how" of the GP.
Intern: Berkshire Hathaway shareholder letters have changed my entire way of looking at a business. Me: Just balance the balance sheet, Bryker.
PSA: It is possible to buy a ranch and not try to deduct everything you buy for that ranch. I've never seen it done, but I've heard it's possible.
I'll never forget the time I tried to explain to my oldest what I did for a living - people pay me to save money on taxes. "That sounds like a scam, Dad"
Coding income and expense transactions is a lot like writing code - pretty linear decision tree Coding balance sheet transactions is very different - more nuanced and requires judgment making hallucination a real risk
We gave Claude access to our corporate QuickBooks. It committed accounting fraud. LLMs are on the verge of replacing data scientists and investment bankers. But can they perform simple accounting tasks for a real business? The answer is no.