Asking Accountants Their Favorite Tax Write Offs

[@alans1870]

I’m a corporate CPA in California. This is so enjoyable to watch. Smart, dedicated and the will to grind it out. Thanks for this video.

[@jreavestheleader8255]

But they doing for blacks!??

[@Baldfade_brie]

Do you have any opportunities available? Asking for myself 😅

[@fpdk]

going into Big 4 now and prepping for my CPA, this is interesting to listen to!

[@js_fears_YAHUAH_only]

As new black CPA....thank you for this....I love seeing black CPAs!!!!

[@hamzabugraucar2490]

Yea Navy federal gave me a really high limit.I applied and was denied at first so I got a Cognitive hacks,and I was approved for a capital one.The limit was so small lol but I took it and worked on it.Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit.they're still working on increasing the capital one since it was so low.All in all I’m satisfied.

[@tidey4]

I needed to see this to keep me motivated while studying for the CPA. Most accountants love to stay out of the spotlight.

[@therjfirm]

Black excellence in one building! I love to see it!

[@therjfirm]

@@jeremiahhouse3434 First, I'm a woman not a guy. Second, have the day you deserve.

[@boiiiitellyouwat9208]

Excellence* every race has the ability to be exceptional and apparently ignorant

[@WhiteRanger1298]

How dare you assume their self identified ethnicity.

[@chosenone3119]

@@boiiiitellyouwat9208 Then why doesn’t the rest of America act like it. People point out “black excellence” in response to stereotypes about black people most Americans believe to be true. Wouldn’t have to point out individual success as “black excellence” if black people weren’t singled out to be thugs or ignorant all the time

[@douglasmitchell3705]

Once you start see people without color so will others… excellence is color blind.. base it on the individual

[@SMD1999]

Ooooh the black excellence is here is just outstanding. I’m a recent civil engineering grad btw

[@xzc81]

Great video, please more interviews with accountants & their career paths 👏🏾

[@kaylachap10]

I’m about to start studying for the CPA exam so this was fun to watch!

[@jalabi99]

Great set of interviews, it's always interesting to hear different tax professionals' strategies. Keep it up!

[@tidey4]

Yes, we accountants need better marketing nobody really knows what we do.

[@linonator]

This is what should be promoted in the media! But I guess it’s too “boring”… keep sharing

[@Fresh360Waves]

Best channel about taxes! Tayisha was feelin' you fasho!

[@executorufestate3973]

PHENOMENAL GREAT FANTASTIC Video brother, great outlook on Finances from people that actually deal with the various nuances of Finance, appreciate the video family and Luan looked like she was in her late 30's early 40's black truly doesnt crack if loved properly Im from Chicago and im not truly into the Finances venue "publicly" but I love great information thats why im subbed keep going brother looking forward to great things from you family, Peace

[@bootscrew]

Great interviews. I appreciate your work!

[@brentbroughton7989]

I love these videos, super inspiring to see the options people use

[@LYFEAccounting]

Glad you like them!

[@GigTax]

Love these new style interview videos!!

[@LYFEAccounting]

Glad you like them!

[@KarenSaunders-b5p]

I can say from experience, the IRS did not start with the millionaires! And we were not major recipients of the PPP loans. I am enjoying your channels - great information!

[@tommyjones1357]

Gonna take a minute to give y’all some praise: bro, every time I interact with an accountant or “See Pea Aye” they are the most boring useless low-energy person. The thing that bothers me most is their flawless ability to pass the buck immediately. I’ve had CPAs literally tell me: “That sounds like a question for a CPA.” And “You would need a CPA that does business taxes.” Useless bunch. And let’s not forget the dry personality type that cannot explain and teach things properly. But you guys break it down and make it make sense. You aren’t in competition with anyone in the accounting market; You’re DOMINATING. You are THE guys.

[@tommyjones1357]

Seriously, from a business perspective, you have Accountants and then you have Lyfe. You’ve built a brand and you have literally no competitors.

[@tommyjones1357]

“Real” accountants are in demand. Consider opening an office in Chicagoland once your brand has grown to be recognized nationally. ;)

[@jenmal898]

Awesome video! They were all so knowledgeable and obvious love for the field

[@farfromacurse7402]

I’m a tax accountant in ATL too. Loved this vid!

[@AJBeezyBetta]

love seeing a video filled with black accountants sitting in class and being the only black student gets crazy sometimes lol

[@abadjianne]

That s a great video thank you for doing it!!! The concept is super smart 😊 I loved having the perspective of different tax/auditing areas, super interesting for me as I am pursuing a CPA licence right now. Thanks for your work!

[@Pygmyz06]

Learned so much from one video ❤ happy new year bro

[@LiniousRHoliday]

😲 amazing video. Thank you for your hard work and information.

[@KatrinaLAlexander]

This is a great video. Real content.

[@paulo1838]

Enjoyed every minute of this video 💯

[@inlineperfectiontransporta1435]

Thanks 🙏 I appreciate each and everyone for sharing.

[@tricallyourmama]

Yoooo that building looks like the one in downtown that is the right next to the parking structure! I freaking love this channel, so much free game

[@LYFEAccounting]

Yes, we were in the Atlanta downtown/midtown area

[@porschejohnson5753]

What event were you all attending?

[@UrbanElitenetwork]

love this, thank you for posting this

[@LYFEAccounting]

Glad you enjoyed it!

[@MomopilotCool]

who would've thought that the people who benefit the most from the rules would want to keep them as is.

[@terry_moorer]

Lovin this segment!! Well done!!!

[@LYFEAccounting]

Appreciate it, Terry! Glad to know people enjoy these more casual videos

[@irshviralvideo]

great job bro ! quality content

[@focused313]

Lots of beautiful black women being interviewed AND walking around in the background 👀👀😍😍😍

[@tyrojames9937]

MAN, I REALLY LIKE THESE VIDEOS!😎👔✔✔✔

[@LYFEAccounting]

Thanks for watching, Tyro! Hope you hit the like button for us 😃

[@umehmoses8118]

Really enjoyed it thanks a lot

[@jamex4189]

I’m in the application processes to test for the CPA exam; and advice?

[@tah385]

I’ in school for accounting now❤

[@naturalnell11]

Another Great video! Thank you for sharing. Do you have any CPA Florida recommendations?

[@rillyjo5810]

im aware of real estate depreciation. what was she saying about non passive something in a year tho? around 10:13

[@faheemfaquir1024]

That was excellent!!

[@TwelveGaugePump]

Diddy, this is black excellence!

[@topnotchrocker2618]

Sean, I am glad you figured out your wedding ring was on the wrong finger!

[@LYFEAccounting]

😂😂 yeah sometimes I start fidgeting with it

[@9erfanatic1]

Loved this video

[@spoiledmilkers]

Clicked for the title question, didn’t see it asked in the first 2 minutes. Recommend changing the timestamps to when it’s actually asked, otherwise feels like a waste of time

[@thelearningchannel5802]

Low 6 figures? What a damn lie, in 5 year's he averaged around 65k-70k

[@edwardnwokolo3151]

Filled your company form for a consultation but never got a feedback.

[@LYFEAccounting]

You’ll hear back from us soon! Took some time off for holidays

[@4realChad]

I’m an auditor and I have no idea about anything tax related. I have no real opportunity to learn about it on the job, only in college and for the BEC portion of CPA. Should I become more well rounded?

[@globalfinancialservices6288]

Absolutely! Take advantage of what you have learned and study for the CPA, if you can. Grow your knowledge, and continue to create passive income.

[@kwekumensah5642]

good video

[@nadiadansani2139]

Someone explain bonus depreciation

[@TaxTimeForever]

My favorite tax write off? ALL OF EM

[@0401412740]

6 figures in USD is pretty good.

[@hazwell6811]

Cool video, keep 'em coming!

[@spire259]

Should the rich pay more in taxes? I don't think so. I think the rich should be more charitable but giving more money to the govt isn't a should or shouldn't haha. I love their answers and the fact that the question was asked but a lot of people generally say yes the rich should pay more in taxes but don't understand that usually the rich don't pay much in taxes for many reasons and one of those reasons is the charitable deduction.

[@michaeljones4465]

The irs has entered the chat

[@bisrow]

If that party happens again in 2023, I am going to need an invite...

[@stefan-t--]

im sorry number 6 said 30 years? excuse me how did you start working at 5 years old???

[@MisterKelisi]

What does bonus depreciation mean ?

[@Thatguy-mo8jd]

Say you buy an asset for 10k that will last 5 years and be worth 0 at the end of 5 years. Normally you would depreciate 2k a year but with bonus depreciation at say 80% you would deduct a total of 8400 or 8000 aka the 80% of the cost + the normal 20% of the remaining depreciation each year or 400. Then the remaining years would be 400.

[@MisterKelisi]

@@Thatguy-mo8jd thank you ! Never heard of this before!

[@s_989]

Is there accountant meetings for just black people?

[@kdunfiltered4358]

🔥🔥

[@arthurzhu795]

would it kill you to interview one white accountant?

[@808pera6]

The rich pay more taxes if you consider the dollar amount.

[@Reformed322]

Becoming an accountant was easily one of the biggest mistakes of my life. The CPA shouldn't be as expensive as it is for starters, then you have the low pay until you make manager, then you have the crazy amount of unpaid overtime instead of literally just hiring more people, then you have the awful culture at CPA firms, then you have terrible management, then you have staff that think they're better than everyone else in the world because they work at Big 4. I could easily go on as to why I think Public Accounting is garbage and no one should do it unless massive changes to the industry happen. One of my dreams is to actually watch as all of the Big 4 disappear forever. The partners who work for those firms are some of the most evil people you will ever meet in your life. I wish you would make more videos talking about what's wrong with the public industries and why people should stay away from it.

[@DarknessFalls29]

@Reformed, thanks for sharing your insights and gripes about the accounting industry. I just chock it up to another industry that needs a complete overhaul along with K12 and higher education, medical field, justice system, etc. 🤷🏽‍♀️

[@MillerLiteKindaGuy]

My dad became a CPA 30 years ago. From then to now is insane. When my dad started people were fired after tax season and fired after April and every year it was random. My dad was never fired but he told me 90% of accounts were divorced and most of them have no family or friends. At least in Chicago the CPA’s work 80-112 hour weeks. Most can’t afford the commute since the work load is insane. The time restraints are insane. Wouldn’t recommend this career.

[@Last_online]

Interesting perspective, why did he end up doing it for so long? Did he say?

[@MillerLiteKindaGuy]

@@Last_online bills and PTO. The carrier is constant hustle. It’s like as a single mother and 2 part time jobs. But its all the stress in one. It’s challenging and the pay is good but I’d really recommend if you’re interested in the career ask people if they know any CPAs and try and talk to them and ask their thoughts. Because becoming a partner is the end goal for a lot of CPAs. So if you meet a Partner ask questions about their life work balance. My dad loves auditing and most of the job but recently new rules every year gets difficult when you’ve got very high blood pressure and sleeping 3.5-4 hours. Then again a lot of people are burnt out by 55-70

[@Astrothunder_]

In my third year of my accounting degree but I have put in the effort to get as much knowledge and info from those with experience in the field. Those 80hr work weeks are not guaranteed with the field. It’s very possible to completely avoid it, two local firms who had reps talk at my school specifically said they don’t have their guys work more than 70hr weeks and even then, that’s only going to be for busy season. There’s multiple months you might be only working 40. And even then, you could stomach a year or two working at the big firms with the 80hr weeks and then leave and get a cushiony job in industry. Basically, it’s a salaried job so yes there will be times when they take advantage of that and have you working far more than 40hrs. But if you don’t have aspirations of being a partner of one of the big firms or something, there’s multiple avenues to avoiding the high stress burnout culture or atleast only having to put up with it for a small portion of your career.

[@MrAkatosh]

They tax the middle class too hard where you can’t get rich because you have to manage so hard

[@elperrocovero]

I wonder if she has a man 🤔

[@holeefook3149]

I wouldn't trust any "professional" with diversity certification.. what a racket.

[@GigTax]

Effort misspelled in interview #3

[@atrujillo9311]

what the heck is a "certified diversity professional"? WHY the heck is a "certified diversity professional"??

[@digz4968]

"What is your favorite tax writeoff?" Timestamps: 1:33 Bonus Depreciation 8:07 Make sure you account for all expenses 9:48 Real estate depreciation as a passive loss 23:30 Leverage the tax rules built for real estate and investments; short term capital losses; use trust and LLCs to create wealth 24:50 Holding income; tax shelter accounts; defer your income and accelerate your losses; Delaware, Montana to reduce tax. 27:17 Bonus depreciation (lowering in effectiveness soon); home office deduction; personal expenses that you can make business expenses "As long as its ordinary and necessary you can almost write off anything." 30:20 Depreciation; Bonus depreciation or section 179 (Real estate: depreciation write off + bonus cashflow); QBI qualified business income;

[@zakihussain7464]

Thank you for this! ❤

[@digz4968]

@@zakihussain7464 your welcome :)

[@tomerator]

As they say, you're doing god's work. Cheers!

[@thatcaddydude4202]

you’re amazing.

[@resumefreak]

Appreciate you

[@mehmetcan7111]

Yea Navy federal gave me a really high limit.I applied and was denied at first so I got a Cognitive hacks,and I was approved for a capital one.The limit was so small lol but I took it and worked on it.Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit.they're still working on increasing the capital one since it was so low.All in all I’m satisfied.

[@ty9425]

I’m always glad to see more Black accountants and specifically licensed CPAs. I’ve been interning throughout college and I’ve been the sole black man in multiple cohorts. It is both motivating and discouraging.

[@bioshock9998]

May I ask what is discouraging about it?

[@tony_sosa_4123]

I’m in the same boat

[@MrEdEtRoIt]

just keep up the hard work and teach your sons and daughters the same. We are all blessed to live in a free country. Even the poorest of us have access to flushing toilets and clean water. Thats more than most of the rest of the world can say...

[@ashmdashmd973]

@@bioshock9998 Theres nobody that you can relate to.

[@learning5188]

Can we take a moment to appreciate his hustle and willingness to put himself out there in order to get the information to the people. Thank you.

[@ahouston68]

Very much so!!

[@benstephenson8993]

This is excellent. I wish there was more exposure of this in low income urban areas for kids. This is what staying in school and keeping out of trouble looks like.

[@camg418]

I love this. Studying for my last CPA exam! Love seeing professionals in my field that are successful and look like me ❤

[@jsyd634]

This is so important right now. This is the conversation we need to be involved in more , let’s talk money , investing, tax etc.

[@calebdailey9196]

Shout out to my NABA Atlanta chapter!

[@Toya2529]

They are amazing!

[@Edwardsprink]

Literally just seeing this many black successful and well off professionals in one building was inspirational in itself

[@irshviralvideo]

for those who want the bottom line. Here are the compensations: 1. 350k 2. 480k 3. 320k 4. 640k 5. 279k

[@Ndasuunye]

i see black success, i click

[@francismazanet2769]

I am a CPA in Florida. Making more does not mean you owe the community more. It means you worked more. As a CPA, I believe you should keep as much as you can for your hard work.

[@naturalnell11]

Hi! I am seeking a CPA in FL. Do you have a website ?

[@messijr5145]

ALWAYS. Old money and inheritance do not exist! LOL. In Orange County, it's all OLD money baby.

[@francismazanet2769]

@@naturalnell11 What city are you in? Is this for your business?

[@naturalnell11]

@@francismazanet2769 I am in Miami and yes this is for business purposes.

[@francismazanet2769]

@@naturalnell11 I am in Sarasota. You are too far for me to provide the personal service I require to give my clients. I am sorry.

[@KareforBrenda]

God bless everyone here being a role model ❤🙏🏿Thanks for providing this information 👍🏿

[@bonga4929]

Hi from Johannesburg south Africa , super inspired !

[@cd-rom.]

No white Jew accountants in ATL? lol

[@SHOTBYCC_]

Ik

[@missnadial5174]

I love this!! Also, for the young folks that are fresh out of college the FBI also hires accountants. Just a path to consider

[@smallbeans101]

Such a great video accountants are some of the most interesting people!

[@hatsappme1850-z9z]

Thanks for watching... Write me to participate in our current investment Offers / insight.☝️☝️

[@11supplementfacts47]

First three minutes already so much knowledge thank you

[@yousufownzu6902]

I started doing my cpa few months ago. From India. Good encouragement.

[@ktok1409]

You really delivered with this video. I have been searching for months for a channel like this that shows people who look like me in this field and those questions that I needed answered. I truly hope to see more of this. Thanks for sharing

[@DreGoGetit]

It’s crazy how you think of an idea to interview accountant then boom a KZbinr already interviewing accountants

[@2point..0]

@LYFE, We are looking for a CPA soon, not only for filing a yearly tax, but we are going to be building a home soon and starting a small business (maybe x 2) with in the house hold !!! Those that you interview are way above my pay grade, ha ha ha!!!

[@christiancoronado]

Good video, I don't talk much to other CPA's and I was curious about their take on various accounting topics

[@tricallyourmama]

One of the best videos so far. Freakin luv the interview style video being able to ask diff questions from diff background. Keep it going!

[@nadiadansani2139]

I don’t want to live in Atlanta, but seeing the black accountants makes me want to reconsider. This is beautiful

[@belindalindsey607]

Great video again!!!

[@mfimabefig9822]

*This video changed my life while I’m just watching 1/2 of it not even finished 😂*

[@SuperMrKanu]

Great stuff. Definitely taking a lot of these right offs into account for my tech startup.

[@pedrelias]

What a great video thank you for exposing all this knowledge!

[@Jamess17065]

Why you cut off the dude that said "NO" rich shouldnt pay more in taxes @ 29:16 Thats pretty lame and I can see you did it because you are biased and dont agree with his answer... Everyone else that agreed with you was allowed to explain yet this young black man got edited. Lame... Will not subscribe to this channel first time watcher. Good luck.. ;)

[@LYFEAccounting]

Lol that was the end of his answer

[@Jamess17065]

@@LYFEAccounting lol nah he was expanding you cut that boy off

[@jermainegoss705]

We need a list of the black CPAs/Accountant in atlanta

[@NYC-Roofing-Concrete]

Excellent information, very valuable 👍