Founder of Shoff Accounting | Helping business owners make more money by clarifying their financial and tax situation
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Joined December 2018
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Helping business owners grow. 📈
We do:
- Bookkeeping/Advisory🧑💼
- Financial Reports that actually help you increase profits 💸
- Tax Management to simplify business taxes and suggest strategies for savings 💰
J. Shoff • Business Accountant retweeted
the reason why soccer’s not a thing in america is because its entertainment payoff distribution has a mode near zero.
you can sit through 90 min & the modal outcome is nothing fucking happens. american sports solved this with guaranteed event frequency… e.g. baseball gives you a discrete resolution every ~30 sec, & american football every play. the floor is high even when the ceiling is low.
while soccer is a lottery ticket.. you occasionally get mexico/england, otherwise you get the snoozefest that was portugal vs spain.
Happy 250th birthday to the greatest country in the world.
Most importantly, we are free. We also have more opportunity at our fingertips than anytime in human history.
Proud to be an American. 🇺🇸
This is awesome:
A legend right here:
Since February, I've designed and built the world's fastest RC airplane in my college dorm, and that’s not clickbait. Reaper has a 5kg carbon-fiber frame, 250N turbojet, and flies at 500mph. New to X and will be going through the whole build here in the coming days.
#aerospace
When running a business, it's worth it to pay more to keep everything running smoothly rather than have setbacks.
Watched my 2012 F-150 roll over 200,000 miles this morning.
Sat in the driveway a second and just looked at it.
Good truck. Still runs great. Brakes and a water pump in all that time, nothing major.
But I’ll tell you what I tell every fleet customer.
Don’t do this with a work truck.
A personal truck breaking down is a bad Saturday. A work truck breaking down is a missed job, a mad customer, and a payment you still owe.
You’re not buying a vehicle. You’re buying uptime.
Run your personal truck till the wheels fall off. Cycle the ones that have to make you money
If you have the goal of running a business, then you should purse that.
Start one or buy one...
But if your goal is to increase the flexibility of your schedule you shouldn't start or buy a business because it is likely way harder to run a business than to work a job.
Either my writing has improved or Claude's editing capabilities has gotten worse.
I think both are true.
In business, diversify your risks.
>> Always have a backup plan ready.
Have an extra service vehicle, extra equipment, extra computer/device, extra payment processor...already setup...ready to go at a moment's notice.
If your business employs people in Tennessee, but you're based elsewhere, this change may reduce and simplify your Tennessee income tax exposure.
Recently Tennessee simplified how they calculate income taxes for businesses out of state and in state.
They use to take into account property owned in TN, employees in TN, and sales in TN to come up with a ratio of how much of your business profit will be taxed at the state level.
Now, starting in 2025, they have simplified to only count TN sales for calculating state income tax liability exposure.
This really simplifies the tax prep process. If you have no sales in the state of TN (or some of your sales are out of state) your taxes may very well be comparatively less than prior years (all else equal).
Get with your tax pro to see how properly apportioning your in state and out of state income could help reduce your business taxes and increase compliance.
Need help with this? Reach out!
If you just need to zone in for an hour and focus on something this is a great one to press play and get to work:
J. Shoff • Business Accountant retweeted
It’s unbelievable to me how little risk tolerance most people have.
Especially considering how important it is to success.
I was using AI for tax research. It was very confidently taking me down a path and giving me answers that didn't seem right, didn't look right, didn't feel right.
I used one prompt to check it's work: "Cite your sources, quote your sources, and provide a link to your sources."
I started reading up on the tax laws that it supposedly was making some high stakes inferences from. I found out the AI was not considering crucial variables mentioned in earlier prompts. Also it was making some really bad assumptions on a few details of this complex situation I was researching.
I called it out. It did an about face. It quickly found the solution to the problem, and cited it's sources for me to review. The second time around it was correct, accurate, and did a decent job of making it's case.
The thing is, in this world of AI, you still must have industry experience in my field to provide the value needed.
But also, AI can really speed up your processes if you use it correctly.
