Take control of your success
Hello entrepreneur! We all know that starting a business is not easy, but there is nothing more exciting than being the owner of your own business and having the opportunity to make a difference in the world. It is important to remember that success is not achieved overnight, it is a process that requires effort, dedication, and perseverance.
Today I share with you some stories from my journey as an entrepreneur, to show you that you can achieve that goal you desire if you truly work hard for it.
Next, I present to you five topics for your reflection:
Confession: I was fired from Daszkal Bolton, LLP
Wells Fargo Auditor vs. $1 Million CPA
Alert: New Penalty of $10,000 for LLCs and Corps
My wife did MY corporate job while I grew my business
The Truth: Why I left my Job at Wells Fargo
1- Confession: I was fired from Daszkal Bolton, LLP
About 10 years ago, I was hired by Daszkal Bolton, an accounting firm based in Boca Raton, FL as a tax supervisor for a salary of more than $100,000.
I was excited they were giving an opportunity to transition my speciality from financial audits to income taxes. At that moment, I remember I really wanted to have my own business. BUT! I made an unforgivable mistake! I took a potential client from the firm. The prospect thought their fees were too high so I made a better offer to that prospect in private, without asking for permission. I was fired for that. That was very painful! And I apologize for my actions.
However, I learned that the only way to grow is to learn from my mistakes and failures. If it wasn’t for that mistake, I wouldn’t have the motivation to start my own accounting firm making more than a million dollars because my life would have taken a different direction if I was not fired. Why? Because of that failure, I learned quickly and I’m in a better position today.
I also learned that TRUST is necessary. If people don’t trust me, I will not get anywhere. The great news is that today I’m giving back to the business community. I’m giving 30 days completely free to help them organize their finances and pay up to 0 in taxes.
2- Wells Fargo Auditor vs. $1 Million CPA
I had to make a video about this to show you the difference in mindset between a corporate employee and a million dollar business owner.
Based on a comment I received from a Wells Fargo employee early this week, I can see that based on his corporate title, he makes less than $200,000 a year (minus 30% in taxes) as a senior audit manager. I on the other hand, already make more than one million dollars, paid off 2 of my house, and live completely debt-free. This is really easy to verify by the way.
Anyways, you should take a look at his comment to see that he clearly has an average “employee” mentality. My perspective: Who should you take “business or financial advice from?”
Guys, this is the same case as if your goal was to get a six-pack abs. Would you hire someone that is overweight but talks about how to get a six pack or would you hire someone that already has a six pack abs? Look, if your goal is to make your first million dollars or more, forget about corporate titles, do not associate fraud with millionaires (that’s just a low middle class mentality), and learn from people who truly have proven financial success (at least someone that makes 10x more than you.)
But if that’s not financial your goal, I respect that because we, as business owners, appreciate employees like you because you help us grow our businesses
Do you get it?
3- Alert: New Penalty of $10,000 for LLCs and Corps
The Financial Crimes Enforcement Network (“FiNCEN”) of the U.S. department of Treasury released a new requirement for limited liability companies and corporations registered in the United States.
The rule requires that these companies file a Beneficial Ownership report disclosing the following:
1. All LLC managers or corporate executive officers having management control over the companies and 2. All members, partners or shareholders having a 25% ownership interest in the US companies.
Guys, this is huge and very serious because if you do not comply with this new US regulation, you will be penalized $500 per day, $10,000, or up to 2 years in prison.
The good news is that you have until January 1, 2024 to start filing these reports.
You should talk to your CPA or accountant about this new rule or leave me a comment if you have any questions.
4- My wife did MY corporate job while I grew my business
Based on my own experiences, I learned quickly that the only way to grow my accounting and tax business was to get a corporate job that would easily take care of my family bills but that job needed to give me enough personal time to be able to grow my business.
My internal audit job at Wells Fargo was perfect because for $105,000, I only needed to work 40 hours a week, without any overtime, and that salary was enough to cover my bills.
However, here comes the best part of this story: to make more time to grow my business, I taught my wife how to do my job at Wells Fargo. Yes, I confess! I was so obsessed and committed to growing my business that my wife had to step in to help me with my corporate job.
Judge me whatever you want, but this is one of the sacrifices you will have to make if you really want to make your first one million dollars from your business.
5- The Truth: Why I left my Job at Wells Fargo
Everything started in 2017 when I was almost bankrupt, with more than $100,000 in credit card debt, for trying to grow my business.
In April 2017, I joined the internal audit department at Wells Fargo in Charlotte, North Carolina, with a salary of $105,000 plus a 10% bonus.
I am extremely grateful to my ex-senior manager, Jason Cooke because he had offered me the job twice. I rejected the first job offer in 2016, but I went back in 2017 for a second opportunity, he offered me the job again, and I accepted.
At that moment, my wife and I packed our bags and relocated from West Palm Beach, Florida, to Charlotte, North Carolina. That’s when my life completely changed, from almost going bankrupt to having more than $1.5 million in financial assets, with zero debt.
Would you like to receive 30 days of FREE accounting to organize your finances and pay up to 0 taxes in the USA?
Let’s pay zero taxes!
Antonio Coa, CPA
Tax Specialist &
Accredited Investor
Antonio Coa, LLC
Whatsapp: (561) 814-4558
Antonio@AntonioCoa.com
www.AntonioCoa.com