Friday, December 23, 2011

OREM Accounting Tax – Northern California

This was one of the most thrilling trips I have had in years. Definitely driving 6 hrs to San Francisco was totally worth it, this trip reminded me of how beautiful, exiting “and freezing cold” the Bay Area could be. In day one I had scheduled 2 appointments that turned out to be 4, and I ended up working really late, I was tired but really happy.
The following 3 days went fast, some say “time flies when you’re having fun”, and although most of the time “if not all” I was working, the time spent meeting new people and developing positive relationships for the future was exciting.
Today I would like to introduce OREM Northern California that will cover the Bay area “city of San Francisco” and Sacramento, I would love to welcome our new team members for the mentioned cities, and our services as well.

OREM Southern California Website
Services for 2012 in Northern California:
Electronic filing: The easiest and fastest way to file your federal and state income taxes.
Rapid refund services: Your tax refund in just 3 to 10 days instead of 4-8 weeks available for Federal and State.
Rapid refund with check: You'll get your tax refund in just 3 to 10 business days. No more waiting for weeks or months to get your refund money. For popular demand we have rapid refund services for all of our loyal and also for our new clients.
Rapid refund with debit card: You'll get your tax refund in just 3 to 10 business days. This product service is specially designed for those individuals who rather not to have a bank account (due to Tax liens, unpaid debt, collections, unpaid credit cards, unpaid child support, etc) Whatever is your financial situation, we can help with your income tax refund needs
Rapid refund with direct deposit in checking account: You'll get your tax refund in just 3 to 10 business days. We offer rapid refund with direct deposit in to your personal or business checking account. This product service is really helpful for those individuals with busy schedules that travel a lot, or just do not want to come back to their tax accountant office to pick up a check. For whatever reason you have, direct deposit in your checking account can be the tax refund product you are looking for.
Business Solutions for small businesses: Here we’ll help you with: How do I start a business? What do I need to start a business? How do I start my accounting system? Do I need a website? Could you build my website? How do I analyze my target market? And much more…

OREM Southern California Website
I am also proud to introduce my OREM team members. All our team members are licensed by CTEC (the state of California) and the IRS.  Feel free to inquire about our services to any of our team members.

Artem Koshkalda: (San Jose, Santa Clara, Sunnyvale, Mountain View, Palo Alto) Bachelor of Business Administration in Finance and Marketing - Kyle National Economic University-Ukraine. He moved to California and has majored in Accounting/Management Communication -De Anza College-Cupertino, CA. His job experience includes working as Personal Banker at ALFA Bank in Kyiv Ukraine. Currently, Artem Koshal is the Assistant Manager at PIZZAGUYS-San Jose, CA. He is a proud member of the TOASTMASTER Club; Achieved Competent Communication Reward. You can reach Artem or “Art” at (408) 300-2164 (Art speaks Russian and Ukranian)

Andy Liao (P01540670) Andy has works as a credit analyst. He has managed and analyzed portfolios. Andy has a Bachelors of Science in Accounting from the  NSU. Andy will be completing his Master of Accountancy next year.




Tatyana Shvets CTEC A237305 (San Mateo, Foster City, Belmont, San Carlos) has over three (3) years of experience in accounting in the business environment. She has experience with accounts receivable, accounts payable. She is a certified tax preparer and has his degree in Bachelor of Business Administration in Corporate Finance (San Francisco State University). Her computer skills include: Word, Excel, Power Point , Access and Outlook.

Zenon Lopez (San Francisco, South San Francisco, and Saly City) has 2 years of experience in San Francisco. His job experience includes working as a tax adviser. He has worked with QuickBooks preparing Account Payable and Account Receivable. Zenon Lopez speaks Spanish and uses Sign Language to communicate with his clients. Mr. Lopez has his B.A. in Business Administration (Accounting) and his Associate degree in Arts (Accounting). One of his biggest accomplishments was making the Dean List at ROP of San Mateo- GDP 3.50; Certificate in Accounting. 
Mark Newland has 4 years of experience working with a multinational accounting firm and a regional accounting firm. Mark had worked in financial audits for non for profits. His experience includes working with small business tax issues, and multi-state sales taxes, Cross border; CA/US tax issues and strategies for individuals. Mark is very knowledgeable about taxes and financial statements. His education includes: Bachelors of Science in Accounting, Finance, International Business and Banking at San Francisco University, you can reach Mark at (650) 464-1776

Art Koshkalda: (San Jose, Santa Clara, Sunnyvale, Mountain View, Palo Alto) Bachelor of Business Administration in Finance and Marketing - Kyle National Economic University-Ukraine. He moved to California and has majored in Accounting/Management Communication -De Anza College-Cupertino, CA. His job experience includes working as Personal Banker at ALFA Bank in Kyiv Ukraine. Currently, Artem Koshal is the Assistant Manager at PIZZAGUYS-San Jose, CA. He is a proud member of the TOASTMASTER Club; Achieved Competent Communication Reward. You can reach Artem or “Art” at (408) 300-2164 (Art speaks Russian and Ukrainian)

Friday, December 16, 2011

Introducing OREM Accounting Tax Arizona - Phoenix

Hi everybody, I am so proud to announce OREM Accounting Taxation Representation LLC has officially stepped in Arizona State, let me introduce OREM Accounting Tax Arizona, and also my team members who will be helping us to take care of all your Income tax and Business needs this 2012 tax season.

OREM Accounting Tax Arizona Website                               Enrique introduces OREM Arizona video
Services for 2012 in Arizona:
Electronic filing: The easiest and fastest way to file your federal and state income taxes.
Rapid refund services: Your tax refund in just three to ten days instead of 4-8 weeks available for Federal and State.

Rapid refund with check: You will get your tax refund in just three to ten business days. No more waiting weeks or months to get your refund money. Due to popular demand we have rapid refund services for all of our loyal and also for our new clients.

Rapid refund with debit card: You will get your tax refund in just three to ten business days. This product service is specially designed for those individuals who rather not to have a bank account (due to Tax liens, unpaid debt, collections, unpaid credit cards, unpaid child support, etc) Whatever is your financial situation, we can help with your income tax refund needs.


Rapid refund with direct deposit in checking account: You will get your tax refund in just three to ten business days. We offer rapid refund with direct deposit in to your personal or business checking account. This product service is really helpful for those individuals with busy schedules that travel a lot, or just do not want to come back to their tax accountant office to pick up a check. For whatever reason you have, direct deposit in your checking account can be the tax refund product you are looking for
.
Business Solutions for small businesses: Here we’ll help you with: How do I start a business? What do I need to start a business? Do I need a website? Could you build my website? How do I analyze my target market? And much more…

I am also proud to introduce my OREM team members. All our team members are licensed by CTEC (the state of California) and the IRS.  Feel free to inquire about our services to any of our team members.
Shawn White (Scottsdale, AZ) Shawn has experience working as an Executive assistant, office manager and customer’s service representative. Not only administrative but also accounting experience. She has exceptional customer’s service skills. Shawn will be graduating with an Associate’s Degree in Accounting next year.
Shawn’s introductory Video



Josue Tinoco IRS P1847163 (Meza, AZ) Josue has worked as a credit analyst. He has managed and analyzed portfolios for over $12 M. Josue has a Bachelors of Science in Accounting from the ASU. Josue will be completing his Master of Accountancy next year. (Josue habla espanol)




Thu Nguyen IRS P1528330 (Phoenix, AZ) Thu is a college graduate with a major in accounting and finance. She has experience with federal income tax for individuals and businesses. Thu had worked as a volunteer tax preparer in the VITA tax program, and she also had online training and was certified by the IRS






Barbara Russell (Glendale, AZ) Barbara has experience working as an Administrative assistant in Real Estate, office manager and customer’s service representative. Not only administrative but also Tax accounting experience. She has exceptional customer’s service skills.


*** If you want to be part of our Amazing team, feel free to email us, tell us about yourself. Free training available for daring individuals in AZ***

Thursday, December 8, 2011

Introducing OREM Southern California – Los Angeles


Hi everybody, thank you all for your patience and your nice emails and notes; I appreciate every single one of them. Today I want to introduce my OREM Southern California team members for Los Angeles and surrounding areas.  I’m also proud to announce all our new services for this 2012 tax season.


OREM Southern California website
Services for 2012:
Electronic filing: The easiest and fastest way to file your federal and state income taxes.
Rapid refund services: Your tax refund in just 3 to 10 days instead of 4-8 weeks available for Federal and State.
Rapid refund with check: You'll get your tax refund in just 3 to 10 business days. No more waiting for weeks or months to get your refund money. For popular demand we have rapid refund services for all of our loyal and also for our new clients
Rapid refund with debit card: You'll get your tax refund in just 3 to 10 business days. This product service is specially designed for those individuals who rather not to have a bank account (due to Tax liens, unpaid debt, collections, unpaid credit cards, unpaid child support, etc) Whatever is your financial situation, we can help with your income tax refund needs
Rapid refund with direct deposit in checking account: You'll get your tax refund in just 3 to 10 business days. We offer rapid refund with direct deposit in to your personal or business checking account. This product service is really helpful for those individuals with busy schedules that travel a lot, or just do not want to come back to their tax accountant office to pick up a check. For whatever reason you have, direct deposit in your checking account can be the tax refund product you are looking for.
Business Solutions for small businesses: Here we’ll help you with: How do I start a business? What do I need to start a business? Do I need a website? Could you build my website? How do I analyze my target market? And much more…
I am also proud to introduce my OREM team members. All our team members are licensed by CTEC (the state of California) and the IRS.  Feel free to inquire about our services to any of our team members.

Harold Morris CTEC A239149 (Glassell Park-Silverlake-Encino-Burbank): Hal has 15+ years preparing taxes and also 20+ years of customers service, He also had worked in administrative and management for multiple major companies in Sacramento, San Francisco and now in Los Angeles. Hal has prepared taxes for the past years helping multiple individuals and small businesses to flourish and realize their dreams. Hal has a great sense of humor, he’ll have you pretty entertained when doing your taxes, all about the celebrities he’d interacted while working in LA. You can reach Harold or “Hal” at 818-518-6081


Angela Martinez CTEC A239294 (South Gate-LAX areas): Angela habla espanol, Angela worked in customer’s service for the past 30+ years, she is proud to have helped people in the Latino community. Angela can help you with your income taxes questions, business needs, and any accounting inquiry. Angela is a new team member and she is thrilled to help all our new and old clients. You can contact her at 310-415-6987

Robert Ziemlak CTEC A239061 (West Hollywood-Beverly Hills-West Los Angeles): Robert is a friendly and nice guy who has worked preparing taxes for 2+ years. He also worked with computers and website development in the past few years, he also has experience in property management and customer’s service, he is currently going to Real Estate school and he also had a certification in business management from the West Los Angeles College.  Robert also works a personal assistant in West Los Angeles. He has a great personality and he will tell you all about the West Hollywood scene, he definitely will have you laughing all the time. Robert can be reach at 310-630-7268

Robert Ziemlak video introduction

Yinyi Otarola - CTEC A239013 (Santa Monica-Venice Beach-Culver City): Yes you guessed it, she is my baby sister. Yinyi “Gen Gee” is currently working and going to school to become a teacher. She had worked in accounting at different property management companies and now after getting certified and licensed by the state of California, she will be helping us in the indicated areas, you can reach Yinyi at 818-669-5508 (also habla espanol)



Antonio Chinen CTEC A177197 (Pasadena-South Pasadena-Eagle Rock): Antonio has 5+ years preparing taxes and he also had worked in the automobile industries for the past 15+ years. He has plenty of experience in the administrative and management areas. He has a very likeable personality and he definitely can help you with all your tax needs. Antonio can be reached at 626-487-4190 (also habla espanol)





Margot Odar CTEC A239012 (Panorama City): I know Margot for the past 20+ years; she has plenty of experience with business administration and management. Margot has plenty of experience with business and business deductions, so if you have a business or if you are thinking on starting one, she is definitely the person to talk to. She not only has a great personality but also she is fun and friendly. She can be reached at 818-892-1655 (also habla espanol)



Jerome Richardson CTEC A239286 (North Hollywood- Studio City-Toluca Lake-Hollywood): Jerome has experience preparing taxes for 3+ years. He has worked in the administrative area for the entertainment business helping multiple individuals to make it in the business “biz” in Los Angeles. As you may have heard entertainers have different tax breaks than average people, Jerome is definitely familiar with all of those. He has a great personality and he not only can help you with specific entertainer’s tax situations but also with common tax needs.  Jerome can be reached at 818-357-0485
Jerome Richardson video introduction


Luis Ramirez CTEC A239718 (Hollywood-East Hollywood-Studio City): Luis had prepared taxes for the past year; he had worked in customer’s service for the last4+ years. Luis plays with this band on his spare time, you guessed! He is really familiar with all the entertainers business expenses that other entertainers (like you) may be missing for not having the right tax preparer. He is a really fun and cool guy. Luis can be reached at 323-316-0167 (also habla espanol)


Leticia Paine CTEC A239715 (South Los Angeles-LAX): Leticia “Leti” had worked preparing taxes for the past 2+ years, she has plenty of experience in customer’s service and she is really sharp when it relates to small business. Leticia is the most positive, happy and friendly person I ever met, she will definitely take good care of you business and tax needs, whatever is your tax situation definitely Leti will do the best of her. If you want to start your own business and need some ideas then Leti is the girl to call. Leti can be reached at 323-822-8499 (also habla espanol)
Leticia Paine video introduction





               *** If you are interested to join our team, send us an email tell us about yourself and why you want to be part of our team. Free training available for individuals outside California ***

Friday, October 7, 2011

Seicho Foundation event in Downtown Los Angeles

Elizabeth Larson & Enrique Otarola in Hollywood
A few months ago, I met El “Elizabeth Larson” the principal at the Seicho Foundation Inc in Los Angeles. I was so inspired by her spirit and enthusiasm.

El told me about her work at Seicho, which empowers underserved groups throughout different ways of art work, such as painting, photograph, arts, crafts, sewing, singing, performing, etc.

This meeting happened while I worked at a major nonprofit organization in downtown Los Angeles with hundreds and hundreds of employees. Although I always worked at the accounting department (and it could be considered the most technical by some), I never thought to have immersed myself to the most technical part of the nonprofit organization such grant writing, management and marketing.
El made it sound so easy, so simple, and so straight forward that I just felt compiled to just have immersed myself into the nonprofit world and to uncover all about it, which I did for the next 5 months.

I was delighted by her energy, and I was moved to contribute to her efforts and to be part of it.
A few weeks ago, I went to downtown Los Angeles to see a Seicho foundation event. This place was filled with images taken by homeless youth everywhere I looked. I looked thoughtfully at the pictures and I could just wonder “how this moment was captured?”, I could just wonder the circumstances at the time this pictures were taken, the feelings and the worries, the dangers of the streets of a city like Los Angeles, etc. I could just think to myself, living in a city where each individual just mind their own business, and shelter ourselves at home, at work or just commuting back and forth, without any regard of how the others are doing.


I not only was able to meet some interesting people at this event, but I also was able to talk to a few of the individuals that took the pictures. And I was able to establish a connection that allowed me to share some experiences, thoughts and hopes for the future.

Melanie Badalato & Enrique Otarola in Downtown LA

Melanie Badalato is one of them, she is the event coordinator. Melanie collaborates with multiple organizations such as Habitat for Humanity, My friends place, Seicho Foundation,  etc. she is the one who put together this event. I am really impressed by her energy and can do personality.



Having myself immersed in the nonprofit world for the past two years, it is impressive to me, witnessing all the organizations and the people that are behind them, their efforts, their programs, and how they managed to fund their missions.

There are multiple nonprofit organizations out there, if you want to contribute. The internet makes it so easy nowadays. There are websites that donate a percentage of their sales to the nonprofit of your interest. Most nonprofits have websites that take donations 24/7.
Melanie, Valery and El
I heard not that long ago, that there are animal shelters that “pays you” a small monthly stipend ($200.00) to take care of cats and/or dogs while you find them a loving house. I also saw in the news the other night about this lady that takes “fancy pet pictures” to help increase the adoptions. She succeeded and now 100% of these animals are adopted every month, no one was left behind.

I also met a few people from “My friends place”, which is another nonprofit organization, this one is located in the city of Hollywood, right on Hollywood boulevard, by the Hollywood freeway (101). Their mission statement says it all “A safe haven for homeless youth”. They provide a wide range of free services for their publics (individuals that meet the criteria) that go from legal clinic, employment skill building, all the way to health education.
I really admire the work of all the people that are behind the walls of these nonprofits, I just don’t know how they do it? I would love to help this world to be a better place for the next generation, but a single effort is not enough, we need to unite efforts and maybe we could make a difference. Nonprofits are structured in a way that simplifies the people efforts. We can always contribute with some donations, checks or by volunteering.
If you want to learn more about Seicho Foundation efforts please follow the link bellow

Wednesday, August 17, 2011

About Nonprofits, Grant money, Foundations and more...

OREM Grant Writing
Brief look to the nonprofit world :

I've been busy these past couple of months studying in dept the dynamics of a nonprofit organization (NPO or NP).
Could you imagine working for an organization that does not have to worry about making a profit to survive? Well this is pretty much a nonprofit organization. Could you also imagine getting "free money" that doesn't need to be returned? This is also referred as a grant, and there are thousands of organizations that are eager to hand it to you. Usually nonprofits and grants go together in life.

To my surprise these types of organizations work pretty similar to that of regular for profit entity. I don't have to tell you that my approach (most of the time) comes from the tax point of view, which serves a double purpose.
For starters, their name tells you that an NP can careless about the profits. A NP has as its heist priority their "mission statement" and the "programs they run". I'll explain those in more detail later; while for profit cares for their profits and (with this economy) for their survival. I can also tell you that a NP depends heavily on non refundable contributions (such as donations, grants, volunteers, etc) that could be goods, services, etc.
I could say (to my surprise) a NP has an easier way to develop services in this world then a for profit organization, and I tell you why, while for profit competes for sales with other for profits, an NPO can choose the specific services (programs), time and areas they want to serve.
Helping the homeless
An NPO can choose the timing (window period) to develop their programs. Unless, an NPO is developing a program that was funded with a grant (usually non reimbursable) it will be tied to a window period that is to be able to use this grant money.
Also, an NPO has more sympathy from potential donors and grant funders to receive contributions. Volunteers are another big help NPO's receive compared to for profits. While volunteers in for profits are often called "interns", the main interest from both remains the same, which is gain experience in a specific area.
A well managed NPO can have a smooth life at any community. And like any type of entity (sole proprietorship, LLC, corporation, partnership, etc) this applies to small and big NPO's.

Click here to watch Enrique's donation to Seicho foundation
You won't believe how many times I've witnessed all kinds of organizations with poor management going down (literally). Having just said that, things like: board of directors with no experience, lack of communication from one department to the other, accounting departments with obsolete systems, fear to change, bad planning, or worse, having a plan, but not stick to it. And these are just the tip of the iceberg.
And like anything in life, I would tell you just do what makes sense. Before starting, whether it is for profit or nonprofit, talk to an expert that can help you.
Anybody can start their own nonprofit. It just likes starting a new business. There are just a few things you may want to consider before you decide to start your own and try to change the world.

A nonprofit helps animals in shelters get loving homes
Mission statement:
Usually this refers to the core of the NPO; it usually is a short paragraph that entails the whole organization reason to exist. You can start your own NPO with a mission statement that goes from saving the daisies all the way to helping the homeless. Keep in mind that your mission statement is what is going to make people to put their little hands into their pockets and give you money, or (even better) to volunteer for your organization.

Like in the business world, you need a plan:
I would suggest starting with baby steps. Start your own nonprofit while you're employed, while you have secured income coming into your pocket. Often at times I suggest people the best time to start a business is while you're employed, so you can afford those expenses, pay the bills on time, while the business gets stronger, while your business grows, then eventually, you will get to the point when having a full-time job and a business on the side is too much, then you will know when is time to choose which one you want to pursue. This is the garage business start up plan, not quite glamorous, but still quite effective nowadays.

Programs:
This is usually referred to what is what you're going to do. At this stage your program relies heavily on "current statistical information," because it has to be "measurable". For instance let's say you want to take kitties away from shelters and put them into permanent adopting homes, or if you want to restore historic buildings in a specific area, or if you're an artist and want to spread your vision, etc. For anything the case is, and then you need to dig into the current information that is available to you. For the first case you could gather information from the local animal shelter, for the second case you could do the same with the city council, state department, or local historic building buro, and so on.

Another NPO helps the veterans
   Once you developed a program that can be measurable (so your supporters can easily see the difference before and    after) then it’ll be more compelling for potential donors to support your cause. From here you are pretty much set to start funding your programs.
Organization, organization, organization:
Since money follows action, I would suggest getting good accounting software. There are dozens out there, just pick and choose the one you feel more comfortable with, the one that makes more sense to you. However, if you purchased one of them USE IT, MAKE YOUR LIFE EASIER. I've witnessed a few times big companies wasting lots of money by having multiple accounting software. Picture this; a company pays multiple wages to multiple workers for using multiple software, paying different software licenses, this software overlapping the other one. Not good, right? Then, picture on top of that keeping records of all accounts in excel, and handwriting checks.

Ask yourself, will I donate $10,000 to an organization that does not have proper records in order? Or, would you be more compelling to donate $10,000 to an organization that has all its audited financial reports? It is that simple, right?
Keep in mind you always can pay somebody to train you in using accounting software. Or you can always hire somebody part-time to keep your bank accounts in order. Or just ask your tax professional to refer you to a good system that can work for you. Since your tax guy works with different people and businesses he must know different accounting software.

Money:
First, keep in mind that most NPO's depends heavily on contributions. Most first timers must fund on their own NPO's themselves, until other people get involved, like any business it starts with yourself, then family members, then friends, then more people get the word, then more people get involved in your movement. At this point you have no restrictions yet, and that is because anybody can do whatever the hell they want with their own money, but when you want the good stuff, "grants money" that is...

Grants money for students
Grants Money:
Most of the time the operational expenses, such as utilities, rent, you salary (just to mention a few of those) could be just 20% of the budget. And I tell you why in a moment.

Ask yourself "would you donate $10,000 to any nonprofit that later will spend $8,000 of those in salaries? ... I WOULDN'T
As a general rule (and most grant funders have specific requirements) that no more than 20% of all the grant money will be used to fund operational expenses. And if you want otherwise, then you can wait, and wait, and wait until you find a grantor that is willing to do it. So, just prepare your programs to that kind of restriction.

If you want to start your own nonprofit or at least give it a thought, Click here
So, this gives you an idea of how much money you will need in order to run your programs and to make a living out of it. But do not feel discouraged, there are hundreds, thousands of nonprofits that made it.
You will be surprised to know there are hundreds, thousands of grant funders willing to give you grants money, and all you have to do is to ask for it. Grants go from as little as $3,000 all the way to $1,000,000, or more.
Well, this is just the tip of the iceberg regarding nonprofit organizations. I will keep you informed, and feel free to contact me if you have in mind to start your own NPO.
And again, I'm not in the business or providing any legal advice.

Tuesday, April 19, 2011

Something to consider for next year tax season...


 
Hello Everybody. I know, I know, I know, I'd been bad, I neglected you! I missed the last issue that was supposed to open April.
On the other hand, I was still able to help so many people this tax season with their income taxes. Not only with their taxes and different tax economic needs, but also with encouraging the entrepreneur self that I found on some clients. I wish and I was able to travel long distances, all over the country just to be able to share all this information with every single one of you, but unfortunately Enrique is afraid of flights, BUMMER.

If I could figure a way to share information with some people that live hundreds of miles away? Well, isn't it the whole idea of writing a blog? Some people had asked me to talk over the phone, or chat online, but to be honest with you, I feel perfectly comfortable with just emailing you back and forth like the good old times.
Tax season 2010 is almost gone, and a few of you naughty guys and girls have not filed your taxes yet. For the ones of you that haven't, because the many, many, many "clever" excuses I get this year. I say to all you men and women that no matter what, even if you did not make any money this past year, even if you had "losses" in your business, you still have to file your income taxes. Ok?
Anyway, I prepare a series of videos where I answered the most repeated questions to my practice.
Why do I need to hire a tax preparer? All I have to do is buy my tax software, do it myself. Well, that's an option but...



How can I start my own business if I don't have much money? In that case you have options, you always can do it. Remember "it is all about choices"...

When you get the "new direction" in your life... There are those times in everybody's life, when you feel like life throws a curve ball at you and you feel like you don't know what to do. I say YOU HAVE OPTIONS GIRLFRIEND...

Well my friends, I hope and you found these videos informative, helpful and have a good laugh at them as well, I also hope you enjoy these videos, as much and I enjoyed making it.
Note: I'm not providing any legal advise, please consult to a lawyer.

Wednesday, March 23, 2011

Interview with the tax preparer

Tax season is coming to an end, and for all of you that likes the rush of waiting for the last minute, I say… DO NOT WAIT THE LAST MINUTE. The more you delay it, the more difficult it is for your tax professional to do a proper allocation of your tax breaks.
For me, it’s been a good year, I can’t complaint, the vast majority of my clients came back for more, and I also got a whole lot of new clients as well.
What makes me enjoy this Tax Preparation Business is the fact that I can help a lot of people with their income taxes, I also like the fact that I can help my clients with their tax planning, achieve their dreams, start their own businesses, etc.
I always just hate when some people use sleazy quotes like “ I enjoy helping people”, “I like making a difference”, etc., but in my case I truly can say “I do”, and I don’t  want any guy (or girl) somewhere is thinking the same way about me.
I know also that I’ve delayed this mid-month issue a little bit, this is the best tax season for me, which is a really good reason for the delay, and I have a surprise for you. I hope you like it as much and I enjoyed doing it.

I have a good friend, Isaias Castaneda attending filming school at LMU in “Marina del Rey”, he asked me to help him with a project for the college cable channel…. So here you have it.





You can watch the full interview by clicking here

Monday, February 28, 2011

The New Direction...

The “New direction” in your life…

Some people say:"and think" in order to start a new project, a new chapter in life, a change, career move, etc. you need money, resources, time, effort, etc. or a combination of all.

I say: "not true". The only thing you need is the will power to do it and set some time aside for your new direction.



I've received a lot of emails these past few months, with all kinds of questions and requests, and this issue will be all about your issues, and how some other people will do about it.

I received an email from this lady in South Los Angeles. Let us call her Doris. She has two siblings and a part-time job as an office receptionist. Doris is divorced for the past three years, and she lives in a rental apartment. She explained to me she is having a hard time to make the month some times. The only income she has is from child support and her part- time job.



With this economy we can't take anything from granted, nor rely on others for our convenience. I would say we got to do what we got to do to make ends meet. And the more independent we are from others, it is the best.

Going back to Doris, she asked me if I would help her find a better job, a cheaper place to live, or any ideas. And also she asked me to help her with her taxes this year.


Later on, when I was going through her numbers, I noticed a few inconsistencies that trigger other issues. She told me about her failed attempts to be a real estate agent, working as an entertainer, etc, but her end up working part -time as a receptionist instead.



I felt bad for Doris, in a way her story reminded me when I was in the low a few years back. I tried to cheer her up, we were having such a good time doing her taxes, "my clients refer to me as the funniest tax preparer they have ever met."


While I was going to my regular,"Tax Questionnaire", she kept going back to tell me how she likes to meet new people, and talking about issues, and how she always wanted to be working in a fast-paced job environment.


Then is when I suggest Doris not to wait until someone or somebody, "discovers her"our dialog was something like:


Me: Girlfriend, you have places to go, people to meet, and things to do on your own

Doris: You think so?

Me: Yeah AH

Doris: Nah AH

Me: Yeah AH

Doris: Nah AH

(Yes, we were shaking heads in the last part of the dialog)



We have a good loud laugh, then I explained to her how convenient it would be for her to just start her own thing. I could tell Doris likes Clothing, make up and jewelry. So I suggested that Doris go to downtown LA (you can find anything you could ever desire for really cheap in there) get some of those good deals, and then just talk to her other girlfriends about it, and if someone wants to buy from her,"to just let her do so" but not before adding a good 15 to 30% on each item, and just take cash in the spot, do not sell credit... with this troubled times you don't want to risk that. I think you will do well.


I totally forgot about the whole issue, until Doris came back a few of days later to pick up her big fat refund check.

Doris: Enrique you are a witch!

Me: Well, in a way I’ve always new that… but what do you mean?

Doris: I did what you told me to do, and I made almost $400 in just one night!

For a moment, I panic and I just though to myself “we are not in Nevada and that is not tax deductible in California…. maybe medical pot but…”

Me: tell me about it

Doris: I went downtown, bought a whole bunch of stuff….. Invited my girlfriends, and pretty much sold out the same night!

After my soul went back into my body…

Me: you see girlfriend, Yeah AH



She was even happier to receive her refund check. I suggested that she invest her money in some income producing factor, and to keep choosing her items with the season, and to keep choosing her invitees the way I had explained to her before.

I've also suggested to Doris to keep her part-time job, to enroll in real estate school in the local community college during this time.

I'm really happy for Doris and also curious to follow up with her next year, and she is so happy that had sent my way a couple of new clients too.


Some times taking "a new direction" in your life doesn't come easy, some times you get hints, or some times it comes in the hardest way in the worst moments in life.

New direction video

Since I don't like to put clients on the spot as examples for the extreme cases, then I will use one of my own.

Back on the time, before I took the business creation and the tax preparations seriously; I was working full-time for a property management company and playing volleyball in a Hollywood league for fun. Back on those days I wanted to go to school for construction management and do something for me, but seem like we all choose whatever is easier for us, whatever takes the least amount of work to do.

Let's face it, we are all lazy bums

At this office the work environment was nice, the co-workers, the office location, etc. it was all nice. Except for a couple of little details that bothered all of us at this particular office.

One issue was the main boss was not available at the office to sign all the payable checks in the due date, for some reason the boss like to submit the checks out one day before the due date, have it postmarked in the post machine at the office and have the post man pick it up the next day.




The only problem was that the boss liked to go out a lot, he was away from the office most of the time, and when he was in the office it was to do his own thing, and he did not like to be bothered by the controller to sign the checks.

As you already guessed, the checks were postmarked late most of the time, and the company got to pay a lot in late fees, and boy the boss liked to blame everybody for that.

Let us add up to the story that the system at this office was way out dated (slow) because the boss was cheap enough not to invest the money on it.


When the bossy girlfriend (the bosse’s girlfriend who also work at this office) gave me the last pay check, I've noticed she miscalculated the amount; she overpaid me a whole lot. Then, the girlfriend gave me her speech of why they can't give me any severance pay or vacation, etc. until today I can’t believe how in the work she still works there.

And yes, I do believe I have enough material for a successful sitcom here.

And another little detail, the boss and his girlfriend dropped their dog at the office (every single day) to be baby sited by the employees while they went out for brunch with their friends, etc.

Guess this wasn't the most professional office I worked for.




The thing is, I put up with all this crap because I was learning so much about the business at this place, the priority for me was to learn as much as I could (as my immediate supervisor told me to) and get the hell out of there, and that's exactly what I did.

The day I was called into the bosses office to let me know that I was no longer an employee for that company (the new direction), I felt sad because my learning experience ended, for leaving my friends, and that's it.


My life turned into a new direction, I used the new acquired knowledge to land in another company that offered better pay and benefits, and the only problem was that they got scared the hell out of my spine problem.

I am a true believer of,"things happened for a reason" this big company was just turning into the new software system I was always interested on learning, so my learning experience was so slim that it was not a good match, the pay and benefits were excellent, but not everything in life can be measured with money, I think you agree with me.

After I have my doubts cleared and I was already in the hunt for another opportunity, I was called to the corporate office; the message was “please rush to the main office”.

I got there, and the same people who hired me were there in the conference room, I knew already what it was for so I was calm. What came next is the most estrange thing:

Carla : we have the owner of the company in the line
(HR Lady)

Me: ok

Owner: Enrique, the company has decided to take in a new direction, and unfortunately for you, the new direction doesn’t include you, thanks for your professionalism and Carla will take it from here.

Carla: here is your final check, and please do not forget to sign all this papers, they state you never got injured at this company, you have no future claims for it, etc.

Me: that’s true.

Later on I thought am I that important to have all these people in the conference room? Was it necessary for the owner of the company to participate as well?



Then better news kept on coming my way… I injured both of my knees, I need it surgery on both of them, and I had no insurance. So I was forced to quit playing volleyball.

Anyway, this was "the moment" when my life took on the real,"new direction" a couple of months later I got my own place, I landed to "the job" at the best place for property management, the system was already in place, everything flow so easily, my new boss Bridget was the best boss I ever had, no doubts about it, my co-workers were so knowledgeable about their areas, and so professional as well.

It was like working in the best place ever for me, I've learned a lot of good things in there, and I got paid to it too, too good to be true, but it wasn't, and it still remains as the best place I ever work.

Once in my new job, I got good use of my insurance and had both of knees “fixed”, I had to be out of the physical activity for a long while, so I concentrated on my new classes and that just happened in the right moment in the right time for me

And my classes were given just two blocks away from the new job place, this was meant to be, no doubts about it. At the end I graduate with distinction J

So my friends, when your life turns in a new direction, don't feel nervous, don't stress, and just go with the flow.








This issue was based on fictitional facts, any resemblance with real life is a mere coincidence... or maybe not

Sunday, February 20, 2011

Tax planning & achieving your dreams

We are getting close to the middle of the 2010 Tax season and I can say I’ve been so busy with tax preparations.
Sometimes is exhausting, hours and hours of information research, old clients to meet, situation updates, job changes, questions to be asked, places to go, appointments to make, new clients to meet, etc.


After, I always get the great satisfaction of able to help so many people, in so many different places in life.

I can tell so many success histories, I'm not going to mention any names, but I can mention some different past situations and some current situations of the same people.

I met this lady who had two dependant children. She told me she got a refund of just about $ 2,000 for the past two years. Based on her particular information and all the expenses she had for the current year she was entitled to get a refund of more less $ 6,000

After that, I asked if the expenses and income were about the same during those past two years and the client said: "yes".

Add caption
This client had sitting an extra (about) $4,000 in the previous years that were not claimed, and I advised to let me take a look into them before the three year window overpass and then that becomes an "expired claim" in the eyes of old uncle Sam.

I have this other client who came across my path a few years ago, this client started a business and the only expense this client was writing off was "rent" and "automobile expenses". I asked him "why just those two main expenses?" and he said because his tax accountant told him those were the only ones he was entitled for the nature of his business, I was like WHAT?

To make the story short, I reviewed his previous tax returns, point the mistakes out, and offered him to claim the extra $3,000 that were sitting on each return.... And if he wanted more money he could take his last tax preparer to court too, my new client had a good laugh and took the first advice, but declined the second one... I was a little bit disappointed, "he took the fun part away"
Then there are always these cases with the new clients with no social securities, or any kind of ..... Anyway, that's solved with a simple form that allows people to get a number from the IRS that helps people to file taxes and it works kinds of a social security, but not quite.

Then there are the clients that want to save money for different goals in life like: house down payment, a new car, a wedding, a nice vacation, an exotic trip, new equipment for your work, shopping, etc. there you can always spend your nice big fat refund in whatever you want. My advice? Don't spend it, put it in a retirement account or a high yield interest account and forget about it, in just a few years I guaranteed you will have saved for yourself an interesting amount of money you can "invest", use for something income producing like: a career, a business, property, etc.


If you decide to invest your money in a retirement account, you have the option of fund your IRA or Roth IRA until the due date of the current tax season, meaning that you can use part or the total of your tax refund to fund your retirement account.

I have some clients that invest the maximun allowed for a single individual which is $5,000 per year. It seems to me this is a real smart move if you want to set aside money for the future, usually this will be money that will remain untouched until you decide otherwise (in a case of a Roth IRA) or simple IRA. The main difference with Roth is the fact that this account is funded with after tax money (earned money after taxes).


Using your retirement account to fund money for the down payment of property is also a smart move. This is a high interest savings account that has the flexibility that future property owners want.

I could be talking for hours and hours of the endless possibilities of how to invest your tax refund money, but I rather to tell you in person or by email, so do not waste any more time and contact me, you won't regret it.