Earn 8.6% Interest with Crypto Currency Saving Account

Posted on May 27, 2021May 27, 2021Categories Save & Invest your Money   Leave a comment on Earn 8.6% Interest with Crypto Currency Saving Account

I came across an article the other day about earning interest north of 10% and it works like a traditional bank savings account. But it is not a bank! It turns out these are known as crypto currency saving accounts. They are not FDIC insured. Meaning, if the company goes out of business, you lose all of your crypto currency savings. I don’t own any crypto currency, but was attracted to the high interest yield. After some research but I … Continue reading “Earn 8.6% Interest with Crypto Currency Saving Account”

My Retirement Plan

Posted on February 16, 2017February 18, 2017Categories Business, Cash flow, Income   Leave a comment on My Retirement Plan

Not so much a retirement plan, but a plan to transition from a self employed IT professional to a business owner, and investor.  In Robert Kiyosaki’s Cashflow Quadrants, he brilliantly described the 4 characteristics that make up these quadrants as E/S/B/I. E = employee (have a job) S = self employed (own a job) B = business owner (own  a system that works for you) I – Investor (money works for you) Benefits: Employee – Paid vacation/time off, consistent income, … Continue reading “My Retirement Plan”

President Donald Trump, Welcome to the Winner’s Circle!

Posted on January 22, 2017January 22, 2017Categories Politic   Leave a comment on President Donald Trump, Welcome to the Winner’s Circle!

President Donald Trump… Against all odds, you overcame all obstacles and overwhelmingly defeated all of your political opponents, and was elected to the 45th President of the U.S.A. on 11-8-2016. You were mocked, laughed at, insulted, and demonized from the moment you announce your presidential candidacy. Who is laughing now? You were not being arrogance when you said that you alone can Make America Great Again. If you did not believe that, you could not have won. Being an avid … Continue reading “President Donald Trump, Welcome to the Winner’s Circle!”

State Property Tax Ranking

Posted on August 25, 2016August 25, 2016Categories Taxes   Leave a comment on State Property Tax Ranking

Property tax can eat into a majority of your rental property income, or significantly increase your housing cost. Considering that rental property investing is a slow, long game with respect to monthly income / cash flow — keep an eye on your property tax as a percentage of your overall expense! Some people don’t invest in Texas for that very reason. Its property taxes are extremely HIGH, which helps to depress its property value. But Taxes has no state income taxes — … Continue reading “State Property Tax Ranking”

My Observations on Income/Wealth and Investing Revolve Around Cash Flow

Posted on March 9, 2016Categories Cash flow, IncomeTags ,   Leave a comment on My Observations on Income/Wealth and Investing Revolve Around Cash Flow

1. My professor taught me computer programming and told me that he will teach me the skills I need to make a comfortable living, but I will never get rich doing it. He said to use my IT skills as a stepping stone to seek riches. But he never taught me how to get rich. I figured it out how to get rich with my paychecks after working for more than 15 years. 2. Consistent and growing cash flow is … Continue reading “My Observations on Income/Wealth and Investing Revolve Around Cash Flow”

Focus on Richdad’s BI-Triangle to Build a Successful Business

Posted on January 24, 2016January 24, 2016Categories Business, Startup   Leave a comment on Focus on Richdad’s BI-Triangle to Build a Successful Business

Richdad often talked about invest in systems NOT products. He called his system to achieve business success the BI-Triangle. When you evaluate a business opportunity or get frustrated over your existing business endeavors, refer to his BI-Triangle business model. He states a successful business needs to have a strong BI-Triangle with a strong mission, team, and leadership. The management functions of the B-I Triangle’s five internal levels are CASH FLOW, COMMUNICATIONS, SYSTEMS, LEGAL, and PRODUCT. Notice PRODUCT is placed on … Continue reading “Focus on Richdad’s BI-Triangle to Build a Successful Business”

I Applied for a Chick-fil-A Franchise, and You Should Too!

Posted on January 13, 2016January 14, 2016Categories Business, Starting a Business 13 Comments on I Applied for a Chick-fil-A Franchise, and You Should Too!

In keeping with the theme of our platform “to elevate the wealth-being of every independent consultants,” I would like to share an opportunity I took it upon myself to take action. As an entrepreneur and opportunity seeker, I always keep an eye open for low risk / high reward opportunity in everything I read and do. Richdad said something has high reward does not necessarily means it has high risk. I totally believe that to be a statement of fact! … Continue reading “I Applied for a Chick-fil-A Franchise, and You Should Too!”

Consulting Success: 26 IRS Audit Risks You Should Know

Posted on January 12, 2016Categories Audit Risk, CPA, Taxes   Leave a comment on Consulting Success: 26 IRS Audit Risks You Should Know

This chapter is devoted entirely on the discussion of tax audit red flags and how to avoid them. Once a return is selected for audit, the level of scrutiny and leniency are all depending on the IRS agent’s and his manager’s working style. Some agents and managers will make sure no stones are left unturned. Others can be very pragmatic. It’s also very important for your CPA to manage and maintain a good the relationship with the agent. I had … Continue reading “Consulting Success: 26 IRS Audit Risks You Should Know”

Consulting Success: Legal Business Entities, and the Expectation of a CPA

Posted on January 6, 2016January 10, 2016Categories Business, CPA, Legal Business Entity, Taxes   Leave a comment on Consulting Success: Legal Business Entities, and the Expectation of a CPA

Members of ConsultantFriends.com: As a CPA, it is my passion to help entrepreneurs like you to become more successful business owners. It is my great pleasure to announce that I will contribute a series of articles that are specifically written to help propel you and your businesses to a higher level of success. It is impossible to cover every nuance here so please contact me directly should you have any questions. Let’s dive into Chapter One: Leap of Faith. This … Continue reading “Consulting Success: Legal Business Entities, and the Expectation of a CPA”

Your Homes, The Trifecta of Tax Saving Haven?

Posted on December 21, 2015December 21, 2015Categories Save & Invest your Money, Taxes   Leave a comment on Your Homes, The Trifecta of Tax Saving Haven?

After working hard for so many years, you finally bought your dream house. Do you know that you have also just landed onto a trifecta of tax saving haven? Mortgage interest deduction You can claim this deduction if you take out mortgage loans to buy up to two houses! One for your first primary residence and the other for your second vacation home that you can usually rent out to generate more income! However, you can only deduct the interests … Continue reading “Your Homes, The Trifecta of Tax Saving Haven?”