The Cashflow Doctor

As a kid in Boy Scouts, I was taught the power of giving back in community service. Now as an adult and a business owner, giving back is part of our company mission. Last weekend, in collaboration with my friends at Impact Movement, we built two homes for families in need. The Sandoval family were living on dirt floors in “homes” built from plywood and tarp. They shared with us the challenges of their living situation and gosh am I blessed to be living in California. We organized a group of 60 amazing people to head south of the border to El Maneadero, Mexico(30 minutes south of Ensenada) to build two homes. When we showed up, we had a pile of building materials and a ton of smiles. Two and a half days later we erected two insulated homes with clean new beds and toys for the kids…and still a ton of smiles(and tears of joy) The Cashflow Doctor is committed to not only providing great accounting and tax service but also great community service as well. One of our core values is to give back to society. As a company, I pledge 5% of our profits to nonprofit missions like this with Impact Movement and the other nonprofits that we support. I thank you for being a part of our mission. Are you interested in getting involved with one of our mission projects? Comment “Build” below! https://lnkd.in/gmbzfTbK

Just a bunch of Burger Kings looking over the burger kingdom.🍔👑🤴 It’s been a long journey to building a business and a lifestyle that allows me to spend time with my boy and the homies. What you might not see is the 60+ hours a week I’m working in and on my business. It’s often a wild balancing act making sure everything is moving in the right direction. We spent the weekend at Laguna Seca yelling at cars and racing our cars. I got a personal best and we returned home with our cars all in one piece. Can’t ask for a better weekend then that! I love just hanging with my son and making memories with the homies. What do you love to do when you are not working?4d https://lnkd.in/gudNunef

Alot of folks dont understand how tax deductions work and that’s ok! It’s common misconception that when you spend a dollar for business expense, you save a dollar of tax. It’s easy to see why alot of folks get that confused. The way deductions work is you can reduce your taxable income by every dollar of additional business expenses paid. When you reduce your taxable income, you also indirectly reduce your tax. Let’s look at an example. Let’s say you are a marketing agency owner and you spend $100 on a deductible business expenses. If you are in a 24% marginal tax bracket because you are a single person making $150,000 a year, you would be able to reduce your tax by $27 or $100 x 27% If you are in a 12% marginal tax bracket because you are a married couple jointly making $80,000 a year, then you would be able to reduce your tax by $12. If you notice, that by spending a dollar, you dont also save a dollar of tax. You only save a percentage of that dollar spent. Hope this helped clear up how tax deductions work. Are you a busy agency owner making over 250K a year that wants to be more tax efficient? Comment “tax savings” below! https://lnkd.in/gGEWyWDs

Only 3 weeks left before the official deadline for extended personal tax returns. October 15th is the day you slackers. Here’s a fun Sunday photo dump to ease your mind🙏🙏 https://lnkd.in/gHW8YnbM

Something something do hard things🐥🐣🦆 30 mile bike ride with the Velosport team backed up by a 5k Spartan race means I made my own bootleg duathalon. Feels great to get back out on the obstacle course. Let’s get a crew together for the next one. Who it in for the duck squad? https://lnkd.in/gYtvMW5M

Some life lessons from racing cars(like my happy miata) ✅ Sometimes life doesn’t go your way. You blow a motor, you break a part. But it’s in the resilience and hard work that you find your path. ✅ Surround yourself with people that have a great attitude. Racing can be very stressful and challenging. Having great people around you to joke with or listen to your challenges makes things much more fun. ✅ A one time success does not beat consistent success. Just because you were able to pull one fast lap does not mean you can repeat that fast lap. Focus on being consistent. ✅ Have fun, enjoy the ride. Recognize that everyone is on their own journey. ✅ Throwing money at upgrading parts to reduce lap times is not as good as spending that money on seat time. Experience always beats shiny and fancy new parts. My lap times last time I was at Buttonwillow was 2:20 and on this track day, broke into the 2:14s! Im aiming to be at 2:10’s by the end of the year. Thanks to all my bros for the good vibes and great times with this happy little car. @socaldriversclub @askvincent @klallu @agi_racing @sdc.charles38m https://lnkd.in/gvT-zTHe

Born to dilly dally, forced to lock in. Just sent off my last on time extended corporate return of the season(got some stragglers for later) and I got my sights set on finishing up the personal tax season off strong. 30 more days before I focus on revisioning my company and restructure how we operate. To all my employees, thank you. To all my clients, thank you. To all of those who have raved or raced with me to keep me sane, thank you. 30 more days till freedom! Well sorta. https://lnkd.in/gN9ch9zq

So this is 21. A little boy turned into a man today. It’s been such a fun and wild ride being your dad and I’m so excited for what’s next for you. To many more adventures, random memes, dance parties, car races, late night talks, math homework, travel, broken car parts, etc. Happy Birthday @askvincent Love, Dad https://lnkd.in/gzXMFZKK

Reminder! Pass through entities tax return extension due date is 9/16/24. Get your returns filed and avoid penalties 💵

Tax Zaddy ramping up for the extension deadlines of Monday September 16th for Corporate and Entity Returns and Tuesday October 15th for Individual extended returns. If you haven’t gotten your taxes done by now, you better hurry up. After October 15th Tax Zaddy is gonna take some time off but for now, back to work! https://lnkd.in/g6UHMkSb