Drew Sullivan

CPA/PFS | Tax advisor to solo and small service-based entrepreneurs, executives and private investors.

[Peter Mallouk @PeterMallouk]

Nearly $27,000 a year for family health insurance premiums, up from $6,000 in 1999.
And that’s before deductibles, copays, and surprise bills.
The system is fundamentally broken.

[Drew Sullivan @PacificTax_]

@LoganGrafTax Congrats. Looking to hire a similar role shortly. Is your tax manager PT of FT?

[Drew Sullivan @PacificTax_]

Having 33% of your portfolio in seven companies is less risky than it sounds, writes @jasonzweigwsj https://t.co/PStEbDkhPb

[Drew Sullivan @PacificTax_]

@Taxguy33962 Any advice on finding admin help? In person or virtual?

[Drew Sullivan @PacificTax_]

Is the end of the billable hour near? It seems inevitable, thanks to advances in AI https://t.co/twCWeSfLO8

[Ryan Greiser, CFP® @Greiser]

That's it.

If you want more insights like this:

1. Follow me @greiser for more
2. RT the tweet below

Disclaimer: This is my personal opinion and experience working with high-income millennials. Not tax, financial, or legal advice. Always work with qualified professionals to understand your specific situation.

[Drew Sullivan @PacificTax_]

@LoganGrafTax @GregoryMcKeown presentation on essentialism at Engage really had an impact on my daily work habits and mindset

[Drew Sullivan @PacificTax_]

@ankurnagpal This isn’t a loophole, it’s the intended effect of the law

[Ryan Greiser, CFP® @Greiser]

This year, a new client earning $350K told me:

"I'm doing everything 'right' with my money, but I'm not getting ahead."

That conversation confirmed what I've seen for 12+ years—high-earners follow outdated rules that sabotage wealth.

Here are the 8 actual rules that work:

↓

[Drew Sullivan @PacificTax_]

These Investors Cashed In by Holding Firm When Markets Slumped https://t.co/zMyLSMARrF

[Morgan Housel @morganhousel]

Two kinds of government tax:

- percentage of your income

- percentage of your mental bandwidth spent thinking about what they’re doing

[Sherry @SchrodingrsBrat]

Before jumping into a very competitive game I think you should look at the winners of that game and decide if you want to be like them first

[Morgan Housel @morganhousel]

"The only new thing in the world is the history you don’t know." - Harry Truman. Same as ever.

[Drew Sullivan @PacificTax_]

@TKopelman Why should taxpayers subsidize auto loans? If anything this will inflate prices further

[Morgan Housel @morganhousel]

Pure Independence

https://t.co/60y4aRauRg

[Drew Sullivan @PacificTax_]

@korlando2251 Axcess works well and pricing is good for 200 or less returns. (At least for the first three years)

[Drew Sullivan @PacificTax_]

@jasonfried Love the simplicity of this. Have you had any iterations on the calculation of profit that ownership and employees find fair? I’m curious given different methods of computing net income (GAAP, tax, etc) and whether any line items are adjusted or backed out.

[Drew Sullivan @PacificTax_]

@mkoontz328 Good to know - I’ve used the “next year” reports but never thought about adding future additions in the current year return.

We used Fixed Asset CS at my old firm and entered the overrides in profx. Never liked that approach.

[Drew Sullivan @PacificTax_]

#taxtwitter

For smaller firms using Axcess what are you using for fixed asset/depreciation projections and reporting?

[Drew Sullivan @PacificTax_]

@mkoontz328 I use it but wish I could start working on 2024 acquisition input now rather than waiting until 2024 software is released.