Results 1 to 5 of 5

Thread: Finding a good accountant

  1. #1
    Newbie
    Joined
    Feb 2008
    Posts
    12
    Thanks
    0
    Thanked 1 Time in 1 Post

    Default Finding a good accountant

    So, I have been naughty. I have been dancing for 5 years and basically pretending that responsibilities (read: IRS) doesn't exist and I know I need to fix it! I also really need help learning how to save my money, what to save for first, how to prioritize in general. The problem is, with this much cash, being a woman, having lived in 5 different states, and most tax places being corporate, I just don't know where to find proper counsel? Does anyone in a more mature financial position than me have any advice on where to start?
    Thanks so much

  2. #2
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: Finding a good accountant

    Before addressing your question, I would mention the following. With 5 years worth of unfiled / unpaid taxes, any accountant is going to quietly tell you that deciding to start filing tax returns now could very well prompt an IRS audit. Even if that audit only goes back three years, and even if that audit doesn't raise a potential issue of 'willful non-compliance', at a minimum 30% tax rate you would wind up having to take every single dollar that you earn over the course of the next year as payment for back taxes owed. With penalties and interest, plus having to pay a minimum 30% tax rate on present and future earnings, this could actually have the 'real world' result of living in near poverty for the next 3 years while paying off the IRS using every dollar that you earn above the official 'poverty' level.

    Now if you have just moved to a new area, and just started working at a new club, you MAY be able to 'sell' a local CPA on the idea that you are 'new' to the business - which, while technically illegal, may allow the subject of past years' unreported / untaxed earnings to not be raised. If so, then what you want to look for is a local CPA that specializes in 'small businesses'.

  3. #3
    Veteran Member Davey17's Avatar
    Joined
    Jul 2011
    Location
    Melbourne Australia and Bangkok Thailand
    Posts
    269
    Thanks
    95
    Thanked 42 Times in 38 Posts
    My Mood
    Fine

    Default Re: Finding a good accountant

    Melonies point is vital , and on my understanding of your systems ( IRS ) ( im from Australia ..its quite similar ) ..It important to get yourself " Clean " and have the ability to go about your business with a minimun of Fuss . Unfortunately , your circumstance is quite common , so take the chance while you have it , to get things corrected .

    Now , while you are doing this , you are formalising your circumstance ..So why not at the same time Commit to a business plan ? I've advised many on this , and just having the plan in place nearly guarantees Focus and also ( almost certainly ) increased income . If you treat the business , As an actual business ..Watch your result Soar , Ive proven this to be a fact .
    Enjoy ... and Progress , Its all in the name of personal enjoyment

  4. #4
    Newbie
    Joined
    Feb 2008
    Posts
    12
    Thanks
    0
    Thanked 1 Time in 1 Post

    Default Re: Finding a good accountant

    Thank you guys! I have an appt on Tues with an acct.
    I have signed 1099s at most clubs Ive worked at but most things are not tracked so I will get what I can from them.
    Quote Originally Posted by Davey17 View Post
    Now , while you are doing this , you are formalising your circumstance ..So why not at the same time Commit to a business plan ?
    What do you mean by this? As it is now, I set goals and use the envelope system, but above and beyond that I am a little unsure of what to do. I am on my way out of the business in the next year or so and would definitely like to make this year my most profitable yet. Any and all help is much appreciated!

  5. #5
    Veteran Member Davey17's Avatar
    Joined
    Jul 2011
    Location
    Melbourne Australia and Bangkok Thailand
    Posts
    269
    Thanks
    95
    Thanked 42 Times in 38 Posts
    My Mood
    Fine

    Reminder Re: Finding a good accountant

    Quote Originally Posted by Chainsaw Chelsea View Post
    Thank you guys! I have an appt on Tues with an acct.
    I have signed 1099s at most clubs Ive worked at but most things are not tracked so I will get what I can from them.

    What do you mean by this? As it is now, I set goals and use the envelope system, but above and beyond that I am a little unsure of what to do. I am on my way out of the business in the next year or so and would definitely like to make this year my most profitable yet. Any and all help is much appreciated!
    Great attitude Chainsaw .... and believe me , just formalising the action will put you ahead of 99.8% of dancers .
    Its taking the Goal setting a little further , Its documenting ( In writing ) what you anticipate achieving / How you will achieve it / Risks / Benefits ..Ultimate Goal ( your may be transition ..as you have stated this ) . You set ( in advance ) nights you will work , or days etc , you will stick firmly to the criteria you have set , if you took a night off ill for example you will make up this night . You will set Budgets for every night ( In writing ) , you will access at the end of the week ..Reason for + or - ..NOT to either berate or celebrate , just as to how you performed .

    You will document you Strengths / Weakness / Challenges / Outcomes ( did this ..that happened ) ..Therefore creating a Plan ..What a plan does , it gives Documented Goals , plus how they will be achieved ..All MUST be in wrting . Complete you plan with a BHAG ... ( big hairy audacious Goal ) ..make it Crazy , write down HOW it could possibly be achieved . By mapping what you CAN control , also with elements you CANNOT , helps you achieve a vastly improved result . Eg : A goal maybe to Double my regular client base ..the questions are How will I achieve this ? Answer maybe ..targeting a different type of Client ..Also ..Goal : Double my average take for a lapdance . How will I achieve this ? ..But using a different form of Dance completion ..Its your Plan ..Not Mine . BUT , It MUST be in writing and well documented , and reviewed weekly .

    When you take the business seriously , and can handle the emotional elements ..and forget bitching about clients , or Bitching to other Dancers , the ENERGY ( POSITIVE ) will flow into the performance , and the business plan will partly assist this outcome .

    I've mentored dancers for quite a while ..All Ive worked with are Absolute TOP earners , and very professional in their achievements ..This Gig , is 90 % mental , plus understanding the Male mind , presenting a great service ..Working to a plan , staying focused , and forgeting all the external B/S .
    Enjoy ... and Progress , Its all in the name of personal enjoyment

  6. The Following User Says Thank You to Davey17 For This Useful Post:


Similar Threads

  1. Can someone PM me a good accountant
    By goreantx in forum Dollar Den
    Replies: 3
    Last Post: 02-01-2012, 07:14 PM
  2. finding a tax accountant in the Bay Area
    By tennisqt in forum Dollar Den
    Replies: 10
    Last Post: 07-23-2008, 03:30 PM
  3. Finding a dancer friendly accountant
    By Katherine in forum Dollar Den
    Replies: 1
    Last Post: 10-06-2005, 11:14 AM
  4. What makes a good accountant?
    By TigersMilk in forum Dollar Den
    Replies: 13
    Last Post: 03-17-2005, 05:30 AM
  5. How do I find a good accountant??
    By GoldCoastGirl in forum Dollar Den
    Replies: 13
    Last Post: 05-29-2003, 02:45 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •