Theparkbooks LLC

07/22/2025

"If you were to start your own business, what's the first thing you would do?".

Maybe I'm weird as a CPA/Finance professional but the FIRST thing I would do is look for a community of poeple. People who have success, poeple who are near or just ahead of where I am, and people who are exactly where I am.

Why?
Because, entreprenuership CAN be a lonely road, but it doesn't have to be. I asked a FB group asking if there was a teams or slack channel that masterminded each other. Kelly Rohrs, CPA referred me to Tax-Minded that was started by Tony Wilson, CPA, CMA.

With their input, support, and teasing (you're not a friend if you can't give and take s**t from me 🤣 ), I've:

- Replaced my salary in a few months,

- Started my faith journey with people I trust and I can be myself with

- Learned professionally more than I could've imagined

- Evolved as a husband and parent watching excuse eliminators struggle through life just like me

- Learn more and more that I'm enough and I am perfect the way I am (1 trait being always hungry to learn and grow).

The craziest part? I JUST MET THE GROUP FOR THE FIRST TIME IN PERSON THIS PAST WEEKEND. It was one of the most real and fun weekends I've had in my life.

07/07/2025

The bill was passed on the Fourth of July.

"Hey, what what's the new capital gain taxes with the beautiful bill? Did SALT caps change? I heard car loan interest will now be deductible. How about [...]?"

Needless to say, people were curious what this bill means for them and already started asking questions.

So here's a quick summary.
The Bill Passed. The official page shows the PDF to be 1018 pages long (you can see it here).
https://www.congress.gov/119/bills/hr1/BILLS-119hr1eh.pdf?utm
https://www.congress.gov/bill/119th-congress/house-bill/1/all-info

What I would suggest:
- Reach out to your CPA/Accountant with your questions but BE PATIENT as all of us are doing our best.
- Yes you should reach out to your CPAs with your questions as at least for me, it helps me add onto the topics I'm looking to focus on for our clients.
- Don't be surprised if your CPA increase prices (some may and some may not) as this increase our workload in us having to review tax returns.
- Ask your CPA if they provide tax planning services and ask if its necessary for your situation.
- Grab a drink and some popcorn as it MAY or MAY NOT be a mess.
- Don't expect taxes to go as smooth as 2024 taxes as the IRS is getting slammed with more work and changes while their workforce keeps getting cut.

06/12/2025

AS WE FRANTICALLY WORK HARD TYPING AWAY, SPOTIFY CRASHSES, GOOGLE MEET DOESNT WORK, ZOOM WORKS. WHATS GOING ON?!

If you're facing issues with your software tools, you can always check https://downdetector.com/ to see if there's a major issue with cloud service providers.

Realtime overview of issues and outages with all kinds of services. Having issues? We help you find out what is wrong.

02/18/2025

📊 Bookkeeper vs. Accountant: What’s the Difference?

The main difference comes down to expertise and level of engagement in financial management.

✅ Bookkeepers focus on recording transactions, reconciling accounts, and preparing financial records. Their work ensures books are organized for tax time but does not typically include financial analysis or strategy. Many bookkeepers interact with clients only periodically.

📈 Accountants go beyond record-keeping. They provide customized financial reports, analysis, budgeting, and strategic advice to help businesses understand their financial health. Accountants may also assist with payroll, accounts payable/receivable, and business planning.

⚖️ State regulations vary—for example, in New York and Texas, you must be a CPA to call yourself an “accountant,” while other states, like Washington, have different rules.

🚀 At a more advanced level, some accountants take on Fractional CFO roles, helping businesses with forecasting, budgeting, and long-term financial planning.

Both roles are important, depending on the level of financial support a business needs.

02/18/2025

I hate seeing posts when a business owner is looking for a new bookkeeper because the current/pervious one create a mess, ESPECIALLY during tax season. It’s frustrating when bookkeeping issues pile up, and business owners are left scrambling for a new bookkeeper. If you’re in this position, here’s some unsolicited advice that I hope helps at least one business owner find a great accountant or bookkeeper they can trust.

Finding the Right Bookkeeper: Why a Diagnostic Review Matters

If you’re transitioning bookkeepers or need a cleanup, consider starting with a diagnostic review. This helps ensure you hire the right person for the job. Here’s why:
✅ Know What Needs Fixing First – A diagnostic helps identify issues before committing to a full cleanup. A good bookkeeper should assess the problems, estimate the time required, and provide a bid for the work.
✅ Understand Pricing Options – Some bookkeepers charge a fixed price, while others (like me) offer both fixed and hourly rates based on complexity of the clean up and then convert to a monthly fee. Having a clear cost breakdown upfront prevents surprises later.
✅ Quality Over Free Services – Some bookkeepers offer free diagnostics, but be cautious—this can sometimes mean rushed or inexperienced work. A paid diagnostic ensures a thorough, professional review.
✅ Get Multiple Opinions to Save Time & Money – If you get diagnostics from multiple professionals, you’ll get different insights into your books. These reports can help the chose professional work more efficiently.

Tax Tip 💡
If you’re behind on bookkeeping, talk to your CPA about filing for an extension and making estimated tax payments. Filing late accrues penalties and interest, but paying an estimated amount can reduce costs. If you’re unsure how, I have a quick video explaining how to make an estimated tax payment—I’d be happy to share it.

01/06/2025

What tasks do you outsource or professional services do you leverage?
Taxes, cleaning, meal prepping, wealth protection?

I've always wondered what sort of professionals my "successful" friends or people I follow on social leverage. Most often, I found out they knew what tasks they need to outsource for the best ROI (return on Investment). What surprised me was how many of these individuals had to overcome a frugal mentally and developed a mentally of "how much time does this give back so I can spend it with people I love or doing things that I love".

Frankly speaking, I'm still working on this and still most often think of ROI as how much $ it will bring me. E.g. If I charge $X an hour or can make $X an hour, and this professional charges $X, how much more can I make in terms of building our business or servicing another client?

Slowly, I'm thinking more in terms of how much more time can outsourcing a certain task give me not only in time, but in energy so I can be PRESENT with those I love.

10/07/2024

Estimated taxes, are you planning for it? Are you making payments for it?
If you are self employed, here's a open story about our own situation.

Our situation changed this year when we went from being full time W2 and part time self employed to being full time self employed.
Our business exploded and it felt great seeing the money in the bank. Even as a CPA and accounting firm, it was easy for ME to not account for taxes because... its easy to feign ignorance and just feel good about the $$$ in the bank.

As a tax and account professional, I've seen people literally go into financial hardship because they didn't properly plan for their taxes. I've seen pay MORE to the IRS in PENALTIES then they did to ME, their tax professional.

By the way, a tax preparer isn't responsible for recalculating your estimated taxes if you have a life change or income change. It takes time and expertise and its something that you should be paying for.

Practicing what we preach, I started the morning by doing a tax planning session for ourselves. It turns out we'll owe what would've taken me 4 months to make at my W2 (after all my deductions) if we didn't spend ANY of it.

Instead, my wife, the smart one (being vulnerable here), asked me "how much do we have in our tax savings account?" My response was "we have savings, that's what its for".

This would've led to false security thinking we "have" more money than we have as the money we owe uncle same isn't actually ours. Instead, she created another account that's specially called "TPB Taxes".

If you haven't talked to your tax professional about estimated taxes or you're not making estimated tax payments, check how much you paid in penalties. Ask yourself if you're ready for a potentially large tax bill. Ask if whatever you're doing really is worth the risk of putting yourself in financial risk.

09/23/2024

If you're in MA, just heard you can apply for tax amnesty. Make sure to reach out to your CPA in advance as this will require a bit of pre-planning but a HUGE opportunity if you're behind in filing.

Cheers!

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09/17/2024

I've personally seen 5 people get impacted by scams in the last year, 1 of which lost hundreds of dollars and another losing tens of THOUSANDS of dollars.

Its corny to say but it really can happen to anyone so instead of doomscrolling, spent 10-15 minutes today just educating yourself on how not to be scammed.

Avoid scams and safeguard your finances. Learn more about scams you may see and how Capital One is here to help with our FAQ page.