rledbetterCPA Profile Banner
Roger Ledbetter Profile
Roger Ledbetter

@rledbetterCPA

Followers
18K
Following
18K
Media
899
Statuses
9K

I lower cost of capital for SMB and Real Estate owners through tax and accounting | Tax and Accounting niche emails in πŸ”—πŸ‘‡

Katy, TX
Joined December 2015
Don't wanna be here? Send us removal request.
@rledbetterCPA
Roger Ledbetter
17 days
πŸ“’ One Big Beautiful Breakdown of the One Big Beautiful Bill πŸ“’. A monster thread of the most relevant parts of the newest tax law:.
11
43
254
@rledbetterCPA
Roger Ledbetter
13 hours
When the client tells you they drove 10,000 miles for business and replies that "Yes, I kept a log"
Tweet media one
4
0
39
@rledbetterCPA
Roger Ledbetter
18 hours
Shout out to the one tax pro who recorded a step up in basis on a rental property by recording 15 year goodwill instead of land and building. When asked, he replied it was for the lease agreements and "know-how" of the GP.
14
2
35
@rledbetterCPA
Roger Ledbetter
1 day
How it feels sometimes
Tweet media one
2
0
8
@rledbetterCPA
Roger Ledbetter
2 days
Intern: Berkshire Hathaway shareholder letters have changed my entire way of looking at a business. Me: Just balance the balance sheet, Bryker.
2
0
23
@rledbetterCPA
Roger Ledbetter
2 days
PSA: It is possible to buy a ranch and not try to deduct everything you buy for that ranch. I've never seen it done, but I've heard it's possible.
12
2
75
@rledbetterCPA
Roger Ledbetter
3 days
Developing prospects into clients and developing managers into partners are wildly different skill sets.
1
0
6
@rledbetterCPA
Roger Ledbetter
3 days
I'll never forget the time I tried to explain to my oldest what I did for a living - people pay me to save money on taxes. "That sounds like a scam, Dad".
7
0
42
@rledbetterCPA
Roger Ledbetter
4 days
Coding income and expense transactions is a lot like writing code - pretty linear decision tree. Coding balance sheet transactions is very different - more nuanced and requires judgment making hallucination a real risk.
@yunyu_l
Yunyu Lin
5 days
We gave Claude access to our corporate QuickBooks. It committed accounting fraud. LLMs are on the verge of replacing data scientists and investment bankers. But can they perform simple accounting tasks for a real business?. The answer is no.
Tweet media one
4
0
11
@rledbetterCPA
Roger Ledbetter
4 days
You don't need to be an accountant to know how to use the general ledger. You just have to ask for it and start poking around.
1
0
3
@rledbetterCPA
Roger Ledbetter
4 days
Moving cash from one business to the other without recording it on the other side?. We see the missing incoming entry by date when looking at both GLs.
1
0
2
@rledbetterCPA
Roger Ledbetter
4 days
Spreading phony expenses over 3-4 accounts?. We track the posting ID number across all those entries.
1
0
1
@rledbetterCPA
Roger Ledbetter
4 days
Inflating revenue with manual journal entries?. We see it in the revenue account.
1
0
1
@rledbetterCPA
Roger Ledbetter
4 days
Knowing how to read a general ledger is a super power. It's a report that shows underneath the hood of the financial statements.
8
2
64
@rledbetterCPA
Roger Ledbetter
4 days
A scaled-down Fortune 500 finance process:. β€’ Close the books.β€’ Update the budget to actual.β€’ Check internal controls are followed. Every business needs these same components large businesses have.
1
0
12
@rledbetterCPA
Roger Ledbetter
4 days
Latest episode dropped - on a topic near and dear to my heart. If you want a breakdown of real estate tax deferral strategies, this is for you. A NY tax court case with a BIG win for taxpayers who used a β€œdrop and swap” TIC into 1031. And deferred $30 million in gains. Listen.
1
0
9
@rledbetterCPA
Roger Ledbetter
5 days
Tax bill writers leaving PTET unchanged:
Tweet media one
1
0
7
@rledbetterCPA
Roger Ledbetter
5 days
Neither case should be a default - as both have risks. But timing should be a normal component of the decision on when to cost segregate.
0
0
1
@rledbetterCPA
Roger Ledbetter
5 days
However, if cost segregation is done after stabilization - then the debt is likely qualified nonrecourse. This gives all investors share in debt basis for more losses.
1
0
1
@rledbetterCPA
Roger Ledbetter
5 days
In most cases, if a GP is guaranteeing the debt - they are eligible for a higher share of depreciation after all equity is zero'd out with losses.
1
0
0
@rledbetterCPA
Roger Ledbetter
5 days
The problem is that many real estate GPs will default into cost segregation immediately - without considering the impacts of debt and guarantees.
1
0
0