Finally Open For Business! This Is What I Do and How You Can Work With Me (Mike Kelly, CPA)

[@1DansBlues]

Congratulations on the start of your own practice. It will be such a rewarding experience. I’m happy for you. I don’t find H&R cheap for what they offer and so. I often find I can offer my services usually for less and try to add value and stand out from them. I try to be reasonable with my fees, so they come back, instead of overcharging them and they never come back. Every year there is a turn over individual returns however I seem to do more every year. Well back to your video. Best wishes and much success my friend.

[@MoneyandLifeTV]

Thanks for sharing that Dan :) It is always helpful to learn from someone who has been in the business.

[@leonardohernandez9365]

Congrats Mike! Later you should make videos explaining how operating a Accounting/Tax firm works. I'm a CPA myself and people won't stop recommending one day opening my own firm

[@MoneyandLifeTV]

Great idea Leonardo, I'm learning a lot fast about the other aspects of the business. I can tell you one thing, lots of hats to wear when starting your own firm.

[@gwiszitstaxtime7293]

My motto is if not you then who! If not now then when. That was before Covid and it’s been quite a ride!!! Congrats Mike and Leonardo! Just start baby!

[@cjtrades]

Thanks for the call Mike and glad to have you helping us!!!

[@chrischow7398]

Wishing you for blessed success in opening your business! Thank you for continuing to provide educational content on taxes and finance!

[@MoneyandLifeTV]

Thanks Chris!!!

[@SmilinsShrinking]

Congratulations on starting your own firm. I own a small tax practice as well, and I think your intro video is perfect. Your clients will be very lucky to work with you. 😊

[@MoneyandLifeTV]

Thank you so much! That really means a lot!

[@bucksamson2561]

Mike is one of the best CPAs I've worked with. I came from TurboTax and I was very frustrated. Mike handled all my situations and problems at a very fair price with no headaches I'd recommend Mike to everyone.💯👍🤗

[@MoneyandLifeTV]

If you have any general questions please leave them here. Thanks everyone!

[@gaylep4404]

Your content is always clear, concise and meaningful. Congrats and best wishes on your new venture- I’m sure you are going to be very successful!

[@MoneyandLifeTV]

Thanks Gayle that means a lot!

[@scrapincowgirl7]

Congrats Mike! So happy for you!!

[@MoneyandLifeTV]

Thank you Patty!!! It has been a great experience been meeting with potential prospects locally and many people over KZbin who are subscribers of the channel :)

[@brandonnaar4453]

Congratulations to you! I wish you great success!

[@Know-How-Now]

Best wishes for the new business, Mike.

[@MoneyandLifeTV]

Thank you know how now :)

[@ValentinAdamee]

CONGRATULATIONS !!

[@MoneyandLifeTV]

Thank you Pedro!!

[@raycody]

Hey Mike, here's a suggestion for an upcoming show. Maybe you can talk a little bit about tax advantages and strategies for people who are working from home. I don't work from home, by my GF does, and she would definitely find it useful. Thanks can congrats on your new business!

[@EvangelistRBColbert]

Congrats buddy! 🙌🏽 You will love being an entrepreneur vs stocks! Trust me! 😊

[@MoneyandLifeTV]

Most definitely! Thanks RB :)

[@chaumvan]

Cheers to the new endeavor!

[@MoneyandLifeTV]

Thank you Ch Van!

[@daveschmarder-1950]

Congrats on the launch of your new business, Mike. I know you'll do well.

[@MoneyandLifeTV]

Fingers crossed Dave! Thanks so much! Having a "Pre-billionaire" in my corner is the confidence boost I need :)

[@jadenardini7736]

Congratulations !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[@Jason_M72]

Congrats my man. I'm sure you will excel. Keep up the good work and much success to you!

[@MoneyandLifeTV]

Thank you Jason!!

[@luisa7655]

Congratulations Mike!!!

[@MoneyandLifeTV]

Thank you Luis!!

[@fearyahaboveall7755]

Watched your videos for 2 days and I’m already hooked , I definitely want you to do my taxes !

[@MoneyandLifeTV]

Thank you fear! If I can of service feel free to message me on the "contact" portion of my website. www.mikekellycpa.com. I started taking appointments late last week.

[@joydebghosal.7646]

Proud of you big brother. God bless you.

[@MoneyandLifeTV]

Thank you Joydeb!!

[@marthavillarreal9989]

This is great Mike!! I am so happy for you ALL THE BEST AMD MANY BLESSINGS CONGRATULATIONS!!!

[@MoneyandLifeTV]

Many many thanks Martha :) Fingers crossed that it goes well.

[@ivydoctorptgoldenretriever8484]

Yaay , exciting ! Do you take Florida client? Thanks

[@MoneyandLifeTV]

HI Ivy, I certainly do :) Best place to reach me is via the contact portion of my website at mikekellycpa.com/

[@remy9536]

Nice! Congrats Mike!!!

[@MoneyandLifeTV]

Thank you Remy!

[@Saffeyah]

Omg congratulations! Such amazing news! Are you state specific? I'm in NYC working in real estate I know for 2022 tax year I will need your services for sure!

[@MoneyandLifeTV]

Thank you Saffeya! I am based out of California, but I am currently taking clients from other states. Real estate in NYC sounds exciting :)

[@WithLibertyandJustice4ALL]

Happy to hear best of luck. Looking forward to speaking with you. Hopefully to start a prosperous business relationship.

[@MoneyandLifeTV]

Sounds good Migdalia, reach out any time on the contact me part of my website: www.mikekellycpa.com/

[@WithLibertyandJustice4ALL]

I did. Waiting for 24 to 48 hours for a reply. I know you must be busy.

[@MoneyandLifeTV]

Yes and indeed, but you should hear from me soon thanks :) The initial influx of e-mails was overwhelming ;) but I'll get it under control

[@quest791]

This is awesome Mike! Congrats on getting this going!

[@MoneyandLifeTV]

Thanks a bunch JibJab fingers crossed that it goes well.

[@susiekelly4322]

On to the new future congrats!

[@MoneyandLifeTV]

Thank you Susie!!

[@raniae9111]

Thank you so much for putting out these videos. They are very helpful!! Can you make a video on foreign tax credit (form f1116) explaining the carry back and carryover credit from previous years?

[@mahalakshmi-xo4cr]

Hi congrats, I am working for a Texas firm from India.. I used to listen ur video for my work related stuff's

[@MoneyandLifeTV]

Wow, that is awesome, and thank you :) More vids to come.

[@Epiclimits]

Congratulations to you sir. This is awesome news for you.

[@MoneyandLifeTV]

Many many thanks Mafioso :)

[@twinspinner76]

Always enjoy your videos. I’ll be hitting u up on your webpage soon for a consult.

[@MoneyandLifeTV]

Wonderful, thanks Sean.

[@salpremiers]

Congratulation you will do great!!

[@MoneyandLifeTV]

Thank you Sal!

[@CosmicCosmo1]

Good job putting this out there. You should get an initial set of clients from this wide cast approach but you'll eventually want to be in control of the clients you onboard. You're going to get a bunch of people that won't pay much and will constantly be chewing up your time. This is why I prefer the hourly billing structure but this approach is way better than buying a practice. I wish you all the luck in the world. Being the practice owner is way better than being an employee of a larger firm due to all the free time you'll enjoy throughout the year.

[@MoneyandLifeTV]

Thanks Olaf! You make excellent points and these are challenges I will need to navigate and overcome. So far being an owner has been a lot more fun than employee. Fingers crossed that I can make it successful over the next few years.

[@CosmicCosmo1]

@@MoneyandLifeTV you will make it successful there is no doubt about it.

[@MoneyandLifeTV]

Thank you brother! I appreciate your encouragement :)

[@edgarantonio5728]

Congrats 🎉🍾 bro can you do taxes in Texas??

[@quincyberman5629]

Congrats man!

[@MoneyandLifeTV]

Thanks Quincy!

[@kevinmendoza4402]

Mike, I hit the like button so the KZbin algorithm doesn’t put your video in the public toilet. Keep up the great work! 👍

[@MoneyandLifeTV]

Kevin, that puts a smile on my face thanks so much :)

[@b-man1232]

Very cool! General question. My Dad and Brother own a Speaker's Bureau that has become quite successful over the years. They book motivational speakers, comedians, successful coaches, etc., etc. (they act as the agent). My Dad is looking at retirement in the coming months. My Brother will assume full ownership at that point. He's been advised to set-up a LLC. What are your general thoughts on LLC's as opposed to a "C" or "S" corporation? Thanks.

[@MoneyandLifeTV]

Hi B-Man both LLC's and S-corps are great. C-corps have become the least favorable entity in recent years (at least for smaller business owners), but all entities have pros and cons. I would suggest researching each and think about what your brother plans to do with the entities and what type of assets it will own. LLC is great for holding appreciating assets like property for example, but an S-corp is not. Hopefully an accountant/cpa is involved to help guide them. That would probably be the best thing they could do before everything settles.

[@b-man1232]

@@MoneyandLifeTV - THANKS!!

[@jarc02]

Good luck!

[@MoneyandLifeTV]

Thank you jarc! That means a lot.

[@mariachaires8063]

How amazing is this!! Congratulations Mike! You made the big step! I hope one day to work for you 😉 would love to learn from one of the best.. will definitely refer you 👍😊🙌 Congratulations again

[@MoneyandLifeTV]

Thank you Maria!! You are too kind :) I hope to be able to expand someday and hire. I will keep you in mind.

[@mariachaires8063]

@@MoneyandLifeTV thank you 🙌❤👍

[@mikecarter1774]

I'm happy for you. Keep up the great work, when you can. I hope you will have so much work that it will be hard for you to make many videos. Haha

[@MoneyandLifeTV]

I'm afraid of that Mike haha, thanks so much brother!

[@davidk6498]

Mike can I sell my stock up to my cost basis without triggering capital gains?

[@foodiefantasies9792]

You're awesome, I myself working as an intern in an accounting firm. If u need any helping hand on ur work, I would love to help. I just want to gather experience, you won't have to pay me anything. 😁

[@elcondemajor]

I have a quick question not related. How long do I have to own an electric car so I can get the deduction? I’m going to sell mine and I’ve only had it six months

[@kokalti]

If I am an employee not a businessman at a trucking company that requires me to be out on the road can I write off meal expenses? Thanks

[@MoneyandLifeTV]

Hi great question, the answer is unfortunately no, but perhaps you can workout some sort of meal reimbursement plan with your employer.

[@claudiovallone9217]

When filing qbi deduction form, should each company net qbi income include prior years unalowed passive loses? My taxact is doing this automatically and imo its duplicating the loss and then making me lose my qbid for this year.. because the form asks you about prior year unallowed loses again in líne 2.

[@dreamcatchinbebo4080]

Congrats

[@MoneyandLifeTV]

Thank you Dreamcatchin!

[@citizenoftheyearCC]

I assume you are a pro at helping with taxes on KZbin income Mike =]

[@MoneyandLifeTV]

I can certainly handle most tax situations :) KZbin income is a nice supplement, but not enough to pay the bills on ad revenue alone.🤓

[@user-ys4yq4cz9r]

I have money in stock , can I use as a business?

[@MoneyandLifeTV]

Hi J, generally no for most people. There are day trading businesses which would be the exception but that is something you would want to look into. Casually investing in the stock market though for retirement would not be considered a business activity.

[@VOGASforVeinOfGoldAndSilver]

I am so happy ;) to here this ;) 🤝🤗🤝

[@VOGASforVeinOfGoldAndSilver]

For some reason I can not cick your link in the description. I hope you fix this situation by your next video :)

[@MoneyandLifeTV]

Thank you Vogas!

[@MoneyandLifeTV]

That is odd, but really appreciate you letting me know. www.mikekellycpa.com/ here is the link to the site.

[@VOGASforVeinOfGoldAndSilver]

@@MoneyandLifeTV :) Got the link. thanks bro. :)

[@notyoaveragejosay1577]

Do operate in just one state

[@MoneyandLifeTV]

Hi, I am based out of Modesto, California, but can prepare a state return in whichever state a person resides.

[@notyoaveragejosay1577]

@@MoneyandLifeTV thank you

[@joelh.m2655]

Great 👍🏾

[@MoneyandLifeTV]

Thanks Joel!

[@MichaelA82828]

Are you looking for employees?

[@MoneyandLifeTV]

Hi Michael thanks for asking. I likely will be in the future. Once cashflow stabilizes and I've built up a nice working base of projects (not sure exactly when that will be) but will be looking. At the moment I wish I had a secretary because I have had so many appointment requests and referrals that I feel I cannot keep up :) good problem to have.

[@kylebruns9060]

Awesome website Mike! I appreciate the effort you’ve put into your channel. You’ve made doing my taxes soo much easier and I hope your new business is successful! I did notice one thing while looking at your site from my phone (iphone 11). It seems that the is making each box have a lot of blank space due to the inline style. Should be an easy fix ! Other than that, the site looks good and I can’t wait to hear later updates about how the business is going! Maybe you can throw some business tips in with your usual content !

[@MoneyandLifeTV]

Thank you Kyle! I'll see if I can fix that. Are you referring to the home page or one of the menu page?

[@kylebruns9060]

@@MoneyandLifeTV I’m referring to the home page !

[@MoneyandLifeTV]

Thank you

[@alirambo8792]

Too funny..I work for HRBlock!

[@alirambo8792]

Love your channel!

[@chewie1355]

I got a guy. His name is MK. 👍

[@MoneyandLifeTV]

I am grateful sir. Will do my best to not let you down ;)

[@DoumoArigato]

Hi, Mike! I just visited your website and left a message for you. I just wanted to get your year-end tax-filling fees estimate. Whenever you have time, please get back to me!1! thank you so much!😀

[@MoneyandLifeTV]

Thanks Kiddo! I will be in touch. I have a bit of a backlog of people I am getting back to so it might be next week, but you will hear from me.

[@DoumoArigato]

Thanks Mike!!! I am looking forward to hear from you soon!!!😀

[@christinahudsonr6058]

why deleting our comments

[@MoneyandLifeTV]

Not sure what you are referring to Christopher? I don't believe I have removed any comments on this video with the exception of one spam comment.

[@MrSkillz07]

Congrats man!!

[@MoneyandLifeTV]

Thank you Mrskillz!!