Yearly Report – 2012 – plus some more

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2012 was an exciting year. I finally started my own CPA practice, built up a solid infrastructure to handle a healthy client load. I ended a toxic relationship with a contract employer that really did not provide anything for me other than CPA hours. I started a relationship with an employer doing tax resolutions. I doubled my client base, and I learned a TON in the process. I only wish I wrote more about it!

My wife and I also bought a house on an acre, we now have eight chickens and are hoping to have a couple of horses in here by February. It has always been a dream of mine to have a nice house on some land. I have always wanted to be able to get my own eggs, and have some livestock to take care of.

For my accounting business, I doubled my client base by word of mouth and referrals, as well as writing a couple of solid posts that gave me ~20 very interesting clients.

After this year, I learned that I really want to learn to play golf better, and learn to code in two languages. I am thinking Rails, and C++, not at the same time, though I am still not sure if these two would be compatible (consider it a rough draft goal).

I would like to use the programming skill to make simple apps to help business people with efficiency and organization.

Below was my income numbers for the year. 100% of the income was from accounting, hopefully in 2013 I will have some supplemental income from a few apps.

  • Income: $91,017
  • Expenses: $84,900
  • Net Income:  $6,117 (paid off some loans)

Finally starting to make some money here, my net would have been much higher but I bought a house in July which was nearly $20,000 in down payment and fees. I am hoping in 2013 a small part of that $20,000 that I wont be spending on a new house can be used for travel, savings, and paying off the last of my credit cards.

I hope to write more in 2013. Happy New Year!

Yearly Report – 2011

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Wow, retrospect post here. I wanted to go back in time and post my yearly progress report in order to look and see the great strides I have taken over the last two years. Today is actually 1/12/2013, so what I did is gathered all of my monthly reports as well as my financials to put up on here for the year 2011 (man that felt like a long time ago).

2011 was a very tough year for me, I rarely have patience, but I was able to pass 4 CPA exams, complete my college credits, and completed the final hours that I needed to qualify for my CPA license.

Overall I probably spent $36,000 and 2 years on getting that license, that does include $28,000 in tuition expenses to go to U.O.P. for the college credits, of which I financed.

Was it worth it? Yes, it taught me more about myself than anything else would. I learned about patience, motivation, and HOW to learn. It taught me a skill that can be used everyday, and will be needed until the need for money goes away, which is a long time from now. It taught me that I can learn anything, it has inspired me to learn to code, and work on my golf game, I dont have to stop now.

My financials for the 2011 Year:

  • 2011 Income Total: $43.633
  • 2011 Expenses Total: $55,796
  • 2011 Net Income: -$12,133

Wow, yes, I ended up digging into my savings for this one. The biggest expense for the year was the wedding and honeymoon. I probably should have reined in on the costs, but overall my wife and I really saved a ton by doing a lot of it ourselves. I would say that the wedding and honeymoon cost about $18,000 out of my pocket (seriously, I know…).

As far as work, I spent most of the year building relationships, studying, and taking tests. Not exactly an exciting year, but with the things that I learned I will take them into 2012 with a bang.