Dave Ramsey

Advice for the Year Ahead

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I was looking for some inspiration for my second set of blogs in this New Year. In a which is charged with so much fighting and negativity, I thought it might be nice to find something positive to share with you. Today I am choosing words which are not necessarily just about sound financial adivce, rather they cover so many areas of our lives.  I often am inspired by the words of Dave Ramsey, and this post from him seems to have just the right tone:

“With a new year comes new opportunities. Second chances. Do-overs. You get to leave the past behind and start with a clean slate! You can make this year better than the last.

As this new year begins, try out these proven principles that will set you up for success.

Related: Take advantage of this year’s clean slate and take Financial Peace University.

1. Let mistakes stay where they belong.

There’s a reason the rearview mirror is smaller than the windshield. Looking at what’s ahead is more important than looking at what’s behind you. Yes, you need to take responsibility for your past, but that doesn’t mean you have to stay there. You can’t be excited about the future if you’re living in the land of regret!

2. Let experience teach you.

Whether it’s those mistakes you’ve made or the unexpected trials that knocked you off your feet, learning from them can be fuel for future success. When asked about his many failed inventions, Thomas Edison once said, “I have not failed 10,000 times—I’ve successfully found 10,000 ways that will not work.” Failure deepens your compassion, forgiveness and empathy. It can give you more self-awareness, improve your skills, and motivate you to work harder.

Related: 4 Secrets for Staying Focused

3. Let gratitude decide your outlook.

When you choose gratitude, you enjoy better relationships, feel better physically and emotionally, improve your self-esteem, and even sleep better at night. There are no downsides to seeing through the lens of gratefulness, but the benefits can radically improve your life!

There are no downsides to seeing through the lens of gratefulness.

We want to come alongside you to help you win. Whether you’re trying to get out of debt, start a new business, or plan for retirement, we hope you’ll turn to us as your trusted source for great content and life-changing truths. We believe in you and your future!

What are you waiting for? Let these principles make 2017 a great year for you! Write down those goals and resolutions. And then start working on them, one day at a time. A successful year is waiting. Go after it!”

At DiSalvo and Company, we are always on the look out for new ways to help our fellow business owners, and the people in the communities where we live and work. Remember, having a good plan will help your business stay on track. Finding ways to cut waste will also help you keep more money in your pocket, both in business and in you personal life.

Pete DiSalvo, CPA

Melbourne - Titusville - VeroBeach - Certified Public Accountant

 

Tax Preparation Time

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It’s the most wonderful time of the year. All the paper is flowing and the numbers are growing and we’ll be of good cheer. Okay, so for some people this is NOT the most wonderful time of the year. But at DiSalvo & Company CPA’s we both LOVE and hate this time of the year. We love it because we get really busy helping people get the best tax preparation and advice that we can offer. The Fact that some people are going to wait until the very last day to bring in their information, we don’t like so much. But we know it will happen, and so we are prepared.

At DiSalvo and Company, we also wish that people would come and see us more during the rest of the year. There are things they do during the year, that if they had consulted us, we could have helped them to save money, or invest more wisely, but I guess that is a conversation for another day.

So what is it that we do that we think is so wonderful at this most wonderful time of the year? Well, we do offer  business tax preparation services for many different types and sizes  of businesses whether you have one location locally or operations in multiple states. It is our job to check and see about every where that we can save you money so your business can realize higher profits.

Tax Returns for Individuals – we make sure you get your tax return back fast with our income tax preparation services for individuals.  Our deductions or credits so you get the highest tax return possible. In addition to traditional tax preparation, we’re qualified to prepare trust, gift and estate tax returns. We meticulously prepare these types of returns and file them on time to avoid penalties.

You run a non-profit? Have no fear, here at DiSalvo and Company, we  provide Form 990 tax returns for churches, charities, foundations, and other non-profit organizations.

Just please don’t wait until the last minute, make an appointment today. Let’s get this done.

Pete DiSalvo, CPA

 

Why Start Your Own Business?

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CPA – Reception

I can tell you why I started my own business. I like controlling the quality of the work I do.I like the feeling of accomplishment I get with a job well done. I like surrounding myself with good people whom I have chosen to hire and associate my name with. Continue reading

Student Debt

Vero Beach CPA, Titusville CPA, Accounting services Vero BeachSince the year 2000, the number of students who took out loans to pay for their education rose to 42 million. The dollar amount is now approaching 1.1 trillion dollars. It is believed that the recession caused more students to borrow than would have normally. Continue reading

Merry Christmas from DiSalvo’s

From all of us here are DiSalvo CPA’s…

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Merry Christmas and Happy New Year!!!

Sage Advice from Dave Ramsey

business advice, book keeping, quickbooks consulting, new business owners Vero BeachIt is no secret that I admire Dave Ramsey, and at this time of year, most of us are reaching the beginning of our busiest time here in Indian River County. For many of the businesses I work with, business is better than it has been in years. That relieves us of some of the financial stress we may have faced in the past seven years, but now we have a whole different kind of stress, the kind where it becomes more difficult to balance everything that is going on in our lives. I thought this post from Dave Ramsey might just give us some food for thought.

“5 Traits of Fulfilled People

You know them when you see them.

They’re those people who are always cheerful and smiling. They’re the ones who rarely complain, and everything they touch seems to turn to gold. They’re successful yet humble, influential yet compassionate. And the thing is, that’s who they really are! What you see is what you get, in public or behind closed doors.

What makes them that way, and how can we all start living our lives a little more like they do?

These people are fulfilled, and it’s a way of life that we can all adopt for ourselves. It just requires taking on some of the traits of fulfilled people and living our lives intentionally. Here are five of their not-so-secret secrets.

1. They Have a Plan

Fulfilled people know where they want to go in life, and they know how to get there. Not only that, but they’re not bogged down in hopelessness that it’ll never happen.They’re full of hope for the future and optimistic that with hard work and prayer, they’ll see their plans become reality.

Related: 7 Types of Life Goals

2. They’re Full of Gratitude

Whether they’re making a salary of $30,000 or $300,000, fulfilled people are grateful for their lives and see them as a blessing from God. They don’t always long for the next, bigger, better thing. Instead, they celebrate their accomplishments and who they are nowrather than comparing themselves and their circumstances to others. They may not have the best of everything, but they make the best of everything. In short, their hearts are content.

3. They Don’t Let Money Control Their Lives

Sure, we all need money to survive. But here’s where fulfilled people differ from a lot of the rest of us: money doesn’t rule their lives. They take control of their finances rather than letting their finances control them. It’s an attitude shift that plays a huge role in our happiness! When we tell our money what to do, we put ourselves in the driver’s seat.

4. They’re Debt Free

Not only do fulfilled people take control of their money, but they take it one step further: They get debt-free. What’s the difference? People who choose not to worship money may still have debt, even though they’re probably on their way out. But those who have become completely debt-free reach a whole new level of fulfillment.

Not only is their attitude toward money different, but they’re actually able to live free of the bondage of bills, payments, interest and collectors. They can direct money toward other, bigger goals: emergency savings, retirement, a house, college, and generous giving. And when life throws them a curve ball, they’re ready because they have the money to hit back. Want to learn how to become debt free? Sign up for Financial Peace University now!

5. They’re Givers

Speaking of giving, the most fulfilled people are the most generous. After all, giving is the most fun you can have with money! They feel so blessed that they’re compelled to give to others.

Broke people can’t be generous, though, because they have no margin in their finances. The road to generosity starts when you begin to make a plan for your life and take control of your money.

And when you do all those things, feeling fulfilled in your life isn’t far off.”

We hope this sets you up on a path to a happier outlook on things.

DiSalvo

Tax Breaks for Military Personnel

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Members of the Armed Forces put their lives on the line to defend our country and the values of freedom all over the world. For that they are offered a few incentives, like the VA hospitals and base housing, the GI Bill.

There are also tax breaks for Military personnel that not all Veterans and Active Duty personnel may know about.

For Example Military personnel who are on active duty in a combat zone are entitles to extensions on their tax returns. There are restrictions to this, so give us a call if you have a friend or family member in a combat zone.

If you have left the military and are entering the civilian work force, you may be able to deduct a portion of your job hunting expenses. Keep your receipts and a log of your various appointments for when it comes time to file your tax return.

When in a combat position, you are entitled to a higher compensation, or combat pay. Your W2 should only reflect your regular pay and deductions, not your combat pay.

In the state of Florida, disabled Veterans are also entitled to certain tax breaks on the real property as well. And many companies who are hiring are giving preference to our men and women who have served in the military.

 

 

Pete DiSalvo

Vero Beach Certified Public Accountant

CPA – DiSalvo Logo

Stick With Your Core Business

forensic accountant vero beach, FloridaRunning a CPA Firm is something I love. Most of my clients only come to me at Tax Time, and that is okay, but another part of my business which is more challenging and rewarding is helping people to build and grow their business.

So often, once these business owners begin to experience some degree of success, they get carried away and move beyond their core business. As someone who sees the financial workings of businesses, I can tell you that while expansion works well in some instances, often what it really does is dilute the core of their businesses.

Sometimes, when I offer advice about this subject, business owners will listen, but sometimes they don’t and it’s sad to watch a business that was once thriving begin to struggle. This article in Inc. magazine speaks to the fact that every so often a business owner gets it. Do what you do better than anyone else, keep service levels high, and stick to your core business:

Alli Webb’s mobile hair-styling business led to an idea for a salon that offers only wash and blow-dry services. Since it opened in 2010, Drybar has become so successful–with 42 salons nationwide and counting–that the copycats are proliferating. Webb explains how she stays ahead of the pack.

–As told to Liz Welch

From the beginning, we’ve stayed very true to what we do–give great blowouts. Many investors have said, “We have this captive audience. That’s a huge opportunity to sell a lot of other things.” I’ve always resisted that–and I think it resonates.

Our clients know they’re not going to be pitched to or bombarded by our stylists to buy products. It’s hard to be really great at a lot of things. I have never entertained the idea of adding on services–but I have seen all of our competitors do that. Let them.

From an outside perspective, the barriers to entry appear very low: Hire stylists, build a space, and you have a blow-dry bar. But we have spent a lot of time and money to make the experience great, which includes everything from the spacing of our chairs to the lighting and the iPhone chargers at each station. We could put up to 10 more chairs in most salons, but we don’t, because the space is built in a special way, so it feels like you are sitting at a bar. “

So remember, working hard and building your business on sound financial underpinnings is a great dream. Just don’t stray too far from the business model that brought you success in the first place.

Pete DiSalvo CPA

Vero Beach Certified Public Accountant

CPA – DiSalvo Logo

 

 

 

Happy July 4th!!

From all of us here at DiSalvo & Company CPA, we wish you a

Happy Fourth of July!!

United States Declaration of Independence on flag background

 

Pete DiSalvo

 

 

Juggling the Demands of a CPA & Family

business advice, book keeping, quickbooks consulting, new business owners Vero Beach Who among us does not know of a CPA or Tax Accountant whom you never see from December to April 16th? In our firm many of us have families and during Tax Season it is extremely difficult to carve out the kind of family time  we would normally have the remainder of the year. From Accounting Today, a post written by CARL ALLEGRETTI hit a nerve with me. Not all of you reading this will be accountants, but man or woman, Mom or Dad, we all have those times when work gets busy and it is difficult to balance the demands of work and the time we need with our families and children.

1. Set thoughtful priorities: As busy season comes around, your time becomes more and more precious as client work increases and deadlines need to be met. With all the demands on your time, something has to give. Focus on setting thoughtful priorities—both at work and in your personal life.

To find the right balance, I look closely at what my top priorities are in and out of the office. For me, family comes first. In order to find the time to coach and attend my sons’ sporting events, I stopped playing golf because I couldn’t justify the amount of time on the course.

2. Plan ahead: Many of us are great at planning when it comes to work. We have a laid out plan for all the things we want to get done. This approach becomes all the more important during busy season.

Don’t forget to also plan for personal time, which isn’t always easy given your professional demands. With careful planning, anything is possible—and that includes using your vacation time before and after peak periods of work. Like an elite athlete, we all must rest, recuperate and reenergize during the year.

I found that when I acknowledged that my personal life was as big a priority to me as my career, it became much easier to effectively plan my life outside the office. I now schedule my calendar up to a year in advance to make sure my personal and professional priorities are locked in.

3. Personal health: Taking care of yourself should be a big priority. If you are not healthy, juggling multiple tasks can become difficult. Getting enough sleep, eating right and keeping active are important in managing stress. The number one way to train the brain is physical exercise, and studies have repeatedly shown that physical activity keeps your brain healthier and stronger.”

Take the time to make a plan for your busy time. Don’t forget to carve out some time for your family and yourself no matter how busy things get.

Pete DiSalvo

CPA

Melbourne - Titusville - VeroBeach - Certified Public Accountant