150: The Secret To Save More From What You Make On eBay - Craig Cody, CPA

Craig Cody is a Certified Tax Coach, Certified Public Accountant, Business Owner and former New York City Police Officer with 17 years experience on the Force. In addition to being a Certified Public Accountant for the past 15 years, he is also a Certified Tax Coach. As a Certified Tax Coach, Craig belongs to a select group of tax practitioners throughout the country who undergo extensive training and continued education on various tax planning techniques and strategies to become, as well as remain, certified. With this organization, Craig has co-authored an Amazon best-selling book, Secrets of a Tax-Free Life. Interesting Notes Craig is an Economics major. He stopped in his third year and worked as a cop for 17 years, following his dad who was a Police Officer. He went back to college, got his accounting degree, and worked for an international firm. He retired from the corporate and started his own firm - the Craig Cody and Company. Now, as a Certified Tax Coach, Craig helps business owners keep more of what they are making. He looks for ways where business owners could legally reduce their tax liability. His ultimate goal for the business owners is to create a saving of $15,000 to $20,000 a year. To achieve his ultimate goal, he takes time to communicate with the business owners and creates a Tax Plan. He makes sure that business owners have all the right documentation and know what to do. He can work with entry-level clients - those business owners that are making $200 to $500 a month. He sees that he can save them some serious money. He works with clients on a monthly basis. He conducts a regular meeting via Skype or Zoom or any online communication tool. He would go over the client's Profit and Loss statement. He makes sure that clients are doing the things that they talked about and planned. Craig works with clients throughout the United States. His farthest client is Oregon. He does not encounter issues in tax rules. Federal rules don't change. The State rules differ a little bit, but for the most part, it is not a big variation. Before working with Craig, you have to have a conversation with him for an initial assessment of your business. He would ask for your last year's Tax Return and your current year Profit and Loss Statement. He will review and do some analysis. Then, he will give you recommendations on what to do to save an extra dollar as a tax deduction. You only pay once you decide to do a Tax Plan. Craig will set up a Tax Plan so that the business owners could do what makes them money, which is to sell. His services are 100% refundable. In his seven years of experience, no one has ever asked for their money back. At the end of the year, he does a before and after with his clients. He shows them how much their tax liability would have been if they did not do what they did. He shows them their current tax liability because they do the things as planned. Craig finds his work exciting. He feels gratified when he could sit down and he saves somebody $20,000 a year. The number can even grow bigger. He has a client who saved $465,000 in one year. The most difficult part of his job is when he has to tell a client of a potential liability because of a wrong practice. The weirdest tax issue he ever had is an evening call from a lady asking his help in preparing her taxes. Craig's services focus on the U.S. income tax. He has been doing accounting works for 18 years. His own firm has been in service for 10 years. He has doubled their office space last June and bring in another three CPAs. To date, there are nine CPAs working in his firm, including him. They want to continue to grow. They love what they do. They have a great staff. They have great clients. They want to keep pushing along and do what they do best. Craig has co-authored a book entitled The Secrets of A Tax-Free Life. One of the secrets is to legally pay the least amount of money just like Warren Buffet and Donald Trump. And to do that you have to have somebody work it for you. His second book is The Ten Biggest Tax Mistakes That Costs Business Owners Thousands. He is giving a FREE paper copy for all So You Wanna Sell On eBay podcast listeners. Click here to claim it now! Advice, Tips, and Tricks 3 Things That Business Owners Can Do To Save Some Money Have a Qualified Business Income This is important for the tax planning. With it, business owners will get a 20% tax deduction over the net profit. But you will do certain things to make sure that you will get the benefits of it. Have a Medical Expense Reimbursement Plan Set Up a Home Office This allows you to deduct your transportation expenses from your house to your warehouse. This also allows you to deduct your home athletics facilities such as your backyard pool or your gym. Quotes "If you communicate, you can plan. If you plan, you can save money." "When we do a tax plan it actually has a tax code that says, 'You can do this!'" "If the billionaires can do it, why can't you?" "A little bit of communication can turn into a lot of money." "If you always do what you always did, you will always get what you always got!" -Ron Contact Information Phone Number: 516-869-4051 email: craig@ccodycpa.com Website: Craig Cody & Company Facebook Page: Craig Cody & Company Sponsors Solutions4Ecommerce 3DSELLERS eCom Chicago Norila Digital Marketing

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150: The Secret To Save More From What You Make On eBay - Craig Cody, CPA is an episode from So You Wanna Sell On eBay by Ali Young & Ron LaBeau.

This episode is 36:04 long.

This episode was published on Jul 17, 2018.

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