Matthew Powell

Putting our newest offer out to the world. “You only pay us for half the profits we generate your business or you don’t pay us at all” Already booking calls from struggling business owners. I’m most excited about creating an offer that makes it a win-win risk-free service 🤘

@BPindulic CFOs can have strengths like tax strategy, capex strategy, or just a good leader. I’ve seen ex Big 4 tax pros and ex-CEOs be the fCFO. Decide what success looks like in that position first, then hire for that role. Otherwise you’ll set them up for failure without a vision.

I'm thinking of hiring a fractional CFO/controller type (not sure what I need just yet). Who should I speak with? DMs open

I'm testing new AI-powered bookkeeping for 3 service businesses. Here's what I've learned so far: 1. Most bookkeepers spend 70% of their time on data entry. AI cuts this into 5 minutes. 2. Clients don't want monthly statements, they want "tell me if something's wrong and/or what I should do next." 3. The real value isn't speed, it's consistency in categorization and catching errors humans miss in the mundane data entry. 4. Accountants can't be entirely replaced by AI, but yet this tool frees me up to do more of the fun stuff. Saving money + looking out for their future. I'm pretty fascinated so far! Now I'm looking for other full-time Photographers and Videographers who want free 2025 tax-ready reports (less the cost of software) to continue testing, so please tag them or share this to DM me!

Phantom profits are the death to all businesses.. 3 causes: 1. Your profit isn’t cash 2. Taking money out (all Willy Nilly) - set aside taxes first 3. No weekly cash check-in (you’re driving by looking in the rearview) I have 5 numbers I reccomend to check every Monday. DM me and I’ll send them to you.

Every new client is the perfect opportunity to make the onboarding process better

@JWellsTax @AccountingAsArt We don’t make payments on behalf of clients either. We just send them the website and walk them through how to submit. I don’t want to deal with PCI compliance and I don’t want to deal with complaints. They’re big boys and girls!

@AccountingAsArt I never make income tax payments for them. Something screws up, and it's my fault. It's too easy for them to make their own payments. They can pay for Netflix, they can pay their taxes. Why would I want that liability?

#TaxTwitter Who sets up/makes payments for clients? Do you do it through your software, e.g. UltraTax? Do you just have their bank information and make the payment online as them? What does your insurance say about liability issues?

How crazy of an offer would it be to offer 150 free biz tax returns in 2025? I could be talked into it

Funny how many million dollar businesses tell me “yeah just to warn you, the books are a complete mess” That’s okay, I include catchups for free

It pays to create win/win relationships with clients

Tis the season for forecast and projection updates

@jmolinaCPA Absolutely! Yeah the way I’m doing it is a 90 day implementation plan for a 6 month agreement and at the end of the agreement we can switch to a fixed retainer or maybe another profit of some sort. Haven’t quite gotten that far

@MattPowellCFO And would the profit share go on forever or how do you mark an end point? If there is one. Thanks for the reply btw.

Putting our newest offer out to the world. “You only pay us for half the profits we generate your business or you don’t pay us at all” Already booking calls from struggling business owners. I’m most excited about creating an offer that makes it a win-win risk-free service 🤘

@jmolinaCPA I’m defining a 3-6 month baseline and benchmarking against that at the start of the engagement

@MattPowellCFO Was also thinking of a model like this, but how do you distinguish between “profits we generate your business” vs profits that would have already been made by the business?

Confidence >>>

I created my LLC in Georgia so I must be looking at a huge bill. I knew I should have went with the Wyoming LLC…

Normalize ignoring opinions for others

@YahooSports Dude ESPN just wants to be in headlines at this point

BREAKING: ESPN and Penn Entertainment are ending their sports betting partnership. After signing a 10-year, $2 billion deal in 2023, ESPN Bet will officially shut down on December 1, 2025 (with eight years left of the initial agreement).

@DonnieDoesWorld Tax loss harvesting

What would this mean for someone who never sold their Penn stock?

@PopBase It takes the private sector to step up and take action. We need to clean house…

The U.S. government has now been shut down for 35 days, tying the record for the longest shutdown in history which was set in 2018-2019. Donald Trump was president during both shutdowns.

Had a client call at 5:30p. I told him I’d give him a ring back first thing in the morning when I’m back in office and ready to give him the energy he deserves. What response did I get? “That’s even better thank you for that” That’s a huge win from where we used to be…