Charles Li

Life follows the path of least resistance

@patrickdichter Most accounting firms are run terrible so it is a lot of firefighting. Not for the faint of heart.

There’s 3 people I know who acquired accounting firms after me in the last few years and they’ve already sold to do something else. It is not at all easy or passive.

@donkeyDdevelops What's a modular group?

New entitled MF deal on the market. Developer clearly never intended to build themselves. Some of the sins they committed: -Designed it themselves (ie, they are the architect) -Massively underparked -Project design is "modular". Now it can't be anything else. Design is locked in w/City. -No modular group in tow. Buyer to bring their own. This, kids, is how NOT to do development.

@lexmutatio @pitdesi Capital gains are taxed at 50% so he's probably paying 27% tax rate on the deemed disposition. If he posts security then he may be able to defer it. You can't leave Canada and pay no taxes.

His framing sucks because it’s not the exit tax that should be the focus in Canada. It’s about how over taxed we are in general. The exit tax - taxing unrealized gains upon change in residency - is just salt on the wound when you’ve already been paying way too many taxes at all levels over the years.

Exit taxes are great, actually… and the alternative is insane. No exit tax means anyone with huge paper gains get an obvious playbook: Build wealth in a country. Use its talent, capital, courts, customers, universities, and infrastructure. Let the gains compound untaxed. Then leave right before liquidity and sell in Dubai, Monaco or Singapore. Would be a terrible loophole that would drive away talented people. Canada is just saying: you built unrealized gains while a Canadian tax resident, you cannot erase that tax claim by changing your address before selling. That is good policy! If the US taxed purely by residence and had no exit tax, the optimal strategy for the Cursor founders right now would be obvious: move to Singapore. They could save billions by doing so and it would be bad for America. The tax code would be begging them to do it. They would almost be idiots not to. That is exactly the kind of dumb incentive exit taxes are meant to prevent. Canada’s version is not perfect, but it has a good feature- you don’t owe the tax until you actually sell the asset. You can defer payment with no penalty when you leave. You just cannot take all the unrealized gains with you and pretend the old tax base never existed. IMO Gad should quit whining.

@Glavin_ID @blueprintsmb22 Sometimes staff have a shitty attitude.

This thread got great run for @blueprintsmb22. It is hilarious to see how people are shitting on him for simply telling a true story. Anyone who has actually run a business has been in this exact situation many times. The age part is irrelevant, I know he mentioned it bc thats how you tell a good story, by giving details. The post has nothing to do with the employees age except to probably drive home the point this dude should know better than to act like this at his age. To me, the post is about how not self aware some people are, do a shitty job then think for some reason you are entitled to a raise.

@FortWayneCPA Hope you get better soon!

I have not posted in a long time... It has been a rough 5 months... I have a pretty severe case of burnout... I have not been able to focus at all. Since I cannot focus it has made everything really hard... My focus has improved a little. I am working on getting back to my normal self... It will take time... But I am working on it... Many of you have reached out to me and I appreciate it. This is something I have to work out for myself! Better days are ahead...

@lanMarroquin @FreeDrThug @PhantomStays Doesn't seem like the entrepreneur is leaving. CRA would definitely consider this to be a sham if they ever found out through a lifestyle audit.

Talked yesterday with a Canadian ecom entrepreneur 🇨🇦 doing $10M/yr revenue, $3M in profit. He's got a US LLC funneling cash to a Hong Kong IBO structure w cash just sitting there, bleeding value to inflation. Plus he's mapping a CA exit to Paraguay for 0% tax. Good moves in some ways, but it's still broken. Main issue is that he is watching millions rot in a bad structure earning zero growth. He's terrified to move capital into US personal accounts because one wrong move triggers a CRA residency audit that could obliterate everything. And on the credit side he hasn't even gotten started. This is the tax time bomb situation I see over and over. High earners trapped between jurisdictions, watching their wealth leak while trying to play it safe. Here's how we're fixing it: First, we execute an immediate physical bank run to the US. Not fintech. Not remote onboarding. He's flying down to open 5-6 brick-and-mortar accounts in person Chase, Bank of America, Wells Fargo, the works. This creates the paper trail Amex and other US creditors actually respects in 2026. Traditional bank statements, proper addresses, real banking history. The fintech stuff? Doesn't work for this beyond convenient banking. 🔥 Once his Amex Business Gold lands, he's routing business spend to 4x points. With his volume, that's serious travel leverage or cash back conversion down the line. But the real transformation is how is thinking about asset protection + growth strategy: 🔐 We're setting up a Panama Foundation paired with a Swiss Bank account. Similar to his IBO structure (but better), the foundation is completely anonymous only council members appear on record, and a nominee company. His identity stays buried. Canada can't touch it (especially when he opens it up with his Paraguay residency). Lawsuits can't touch it. It's the "own nothing, control everything" structure. 🔐 Inside the Swiss account, we park the principal in index funds. Safe, liquid, beats inflation. Then we activate a Lombard loan he can borrow up to 80% of the portfolio value at around 4-5% interest. This is the double-dip: the funds keep earning their yield, and he deploys the loan capital into higher-return investments. Same dollar working twice. 🔐 For the lifestyle transition, we're shifting him from Airbnb long-term rentals to Marriott Homes & Villas. Monthly stays earn elite night credits. His travel becomes a status-building activity + points earning, instead of a sunk cost. The Paraguay move is now clean. Wealth is completely insulated from the CRA through the anonymous foundation structure. His stagnant Hong Kong cash transforms into a compounding machine with Swiss leverage. And he gets a legal, documented exit from Canada's high-tax regime to a 0% environment. Most entrepreneurs with this kind of profit are either overpaying taxes or sitting on dead capital because they're too afraid to move. The truth is you can protect everything AND grow aggressively if you structure it right. If you're sitting on serious profit in the wrong jurisdiction or watching your wealth lose to inflation while you play defense, we should talk. Let's turn that paralysis into a bulletproof global structure.

@FortWayneCPA @CPATaxTeam What would be a normal margin be if the owner did a normal amount of work?

I look at a lot of firms that are for sale and I do due diligence engagements concerning whether a person should buy that specific firm or not.. I have done 29 engagements in the last two years. So I have looked at the financials of 19 different small CPA firms in the last two years. Zero had margins over 80%. 2-3 were at 60% and in those the partners did a lot of work... Just what I have seen.

If you’re looking at working for a firm and their gross margin is higher than 60%, you’re going to be underpaid. Or, you found the unicorn where all work is automated and you collect a check for not working much.

@skylarromines Comparison is the thief of joy.

The most interesting thing about people hating on Bezos & his lady for partying is that whether you think it looks fun or not, they’re living their idea of fun. Who cares if they want to dance & drink champagne with friends or go sky diving or learn to fly a plane or hike Mt Kilimanjaro or play with baby raccoons or write poetry or read in solitude or go on long walks or restore old typewriters? They’re living real life. You’re sitting on the internet judging & complaining about it. Maybe you could benefit from some shitty club music & a bottle of champagne or two idk

My son. Im so proud. This is his 19th yr IN A ROW delivering gifts to the Neurosurgery floor at Texas Children's Hospital on Christmas Eve. Every bag represents a room he has lived in. He has survived 23 brain surgeries, he visits every family and delivers gifts, love & hope ♥️

@3Plantey2 @Tobias222225 Some of the WC is trash because they are working with their customers to enter key markets i.e B.C.

@Tobias222225 3: WC is still trash, which is really annoying but it could be something they can work on, because if they do they'll get much better ocf.

The good: Status growth, great Q4 momentum, lots of expansion and humble upgrade. The meh: +-0 astro lab, zest, b2b. The trash: frootyhooty, roilty, lamplighter negative, the worst being due to no replenishment order in q3. The sell in vs sell out was quite different.

@joekraymond Story sounds like Larry.

Making 13x in 4 years on a preferred stock. Stranded securities, SEC rule technicalities, and taking on Goldman Sachs. Link in bio for the story.

@resetbasis ??? Why haven't they collected it all then lol?

Jerry Seinfeld: I don't understand. Do you collect the rent? Seller: We bill the rent, we just ran out of paying tenants. Jerry: But the collection is what matters. That's why you bill the rent. Seller: I think I know why we bill people for rent. Jerry: I don't think you do. You see, you know how to bill the rent, you just don't know how to collect the rent. And that's really the most important part of the rent: the collecting. Anybody can just bill rent.

@FortWayneCPA The systems are like the Canada Revenue Agency. Probably like 30 - 40 years old.

Something I hear a lot, implement AI at the IRS and it will fix the IRS. Anything thinking this does not understand the IRS. Or AI. If their systems are MODERNIZED first, and if AI is introduced in a smart, secure fashion, then AI can help for sure. The problem is this; you have to modernize their systems FIRST. Do you agree with me overall?

@3Plantey2 The stock is highly polarized right now with people optimistic/pessimistic on the stock.

@3Plantey2 It doesn't hurt to find out why and Q3 will likely be better than Q2. Insiders sometimes do dumb things. Just wanted to know if you were concerned about it.

We are all very fortunate that the vast majority of market participants hate free money $hash.v

@FortWayneCPA Most people's attention spans now can't pay enough attention to email.

Reading the entire email and responding to all three bullet points is honestly a lost skill...

@KairosPraxis @Skeptical1704 Dilution is their strategy to acquire assets that are accretive. Story isn't done yet. I would wait at least 1-2 years before concluding.

@Skeptical1704 You are right that price is driving narrative here and I will eat my words by the end of the year if I'm wrong. That said, I don't think management deserves a gold star, more missteps than misfortune IMO (dilution, issues with GM/cash burn, debt, etc.).

A tale of two M&A approaches: Firan vs Simply Solventless $FTG operates in the aerospace industry (PCBs & flight recorders) while $HASH.V is an end-to-end cannabis producer. Both companies rely on M&A but the execution couldn't be more different and the results reflect that. 🧵

@EightTrack180 @DomumCapital It was a great interview.

Glad you enjoyed it @DomumCapital

@3Plantey2 maybe Hash.v will buy it in bankruptcy.

If you think $hash.v is cooked then just take a look at $canb.v. holy fuck they're fucked. Burned fucking 3.7m cashflow in 1q while revenue collapsed by 18% yoy.