David M. Daggett CPA – What it Takes to Become a Tax Analysist

David M. Daggett is an experienced Certified Public Accountant (CPA) in California. He began his career in 1986, and he worked hard to hone his skills and build a strong reputation for himself. He graduated from San Diego State University in 1983 with an undergraduate degree in business administration. His focus was on accounting and he went on to become a successful accountant and tax professional. If you aspire to become a tax analyst, there are a few steps that you will need to follow.

Your first step should be to earn a bachelor’s degree. You should choose a school that has a strong business program with an emphasis on accounting and finance. This program will teach you about tax laws and regulation. You will also learn about tax planning and consultation.

Your next step should be to gain work experience. You should seriously consider participating in an internship program while you are in school. This will help you learn about the tax industry and earn work experience. Interning is also a great opportunity to find a mentor and make professional connections.

After you complete your education, you will need to become certified. Each state has a different certification process. Applicants in most states need to pass a written exam in order to become a CPA. Professionals also need to re-certify every three years. David M. Daggett is a CPA in California with three decades of experience. He worked hard to become a CPA and he has worked for some of the largest firms in the industry.

David M. Daggett CPA – The Tax Implications in Selling a Business

During his career, David M. Daggett has been involved in the sale of many businesses. One of the aspects that clients have turned to him for advice has been in the tax implications of the sale. As an entrepreneur, you have to know that selling your business can leave you with significant tax implications. In fact, if you are not keen during the process, you can wind up with less money than you originally hoped for, after the tax obligation is met. However, with good planning, it is possible to reduce the taxes incurred.

In the sale of a business, the taxes are levied on the profits made. You might have some level of control over the terms of the deal, but the tax authority is bound to claim its fair share in due time. The amount of tax paid will depend on whether the money made from the sale is viewed as capital gains or ordinary income. The money received from selling business assets is likely to be viewed as capital gains, while any money received through a consulting agreement is ordinary income.

When you value the business in totality, you and the buyer have to agree on the value of each individual asset, whether tangible (servers) or intangible (goodwill). This allocation will help determine the amount of tax you have to pay. It will also have tax implications for the buyer. What is good for the tax implications for the buyer is often bad for the seller and vice versa, so finding common ground on the value of assets requires negotiation and compromise.

David M. Daggett, CPA has been involved in the sales of many businesses, including the sale of Gator Hawk Armor, Inc., to a Canadian public company.

 

David M. Daggett CPA – The Tax Implications in Selling a Business

David M Daggett CPA – Importance of Tax Planning

David M. Daggett is a qualified accountant who is a partner at Lee, Cochran & Daggett, CPAs, LLP, which is a full-service firm specializing in tax preparation and tax planning. He’s been a partner since December 2011, and part of his work is handling about 400 clients who range from high-net-worth individuals to real estate professionals, service companies, and manufacturers. Over the years, he’s advised many clients on the importance of tax planning, thus, helping them file their taxes and avoid unnecessary penalties.

What tax planning means

Tax planning is the ‘process’ of getting your financial affairs in order so that you can meet your tax obligations properly and timely. By having effective strategies, you can ensure that you have more money to invest or save, all resulting from making maximum use of all the tax breaks available under the tax code.

Closely related to tax planning is financial planning, which speaks to the strategies that help you accomplish your financial goals, whether they are long-term or short-term. Financial planning and tax planning are related because taxes are a huge expense over a lifetime. If you want to be successful, you will have to figure out how to handle taxes. So having a plan in place is crucial to your long-term financial success.

Over the years, David M. Daggett, CPA has helped many clients understand fully the importance of tax planning. By doing so, many have avoided committing blunders that cost them time and financial resources.

 

David M. Daggett CPA – Private Investment for Business Growth

Every year, venture capital and private equity firms go out in search of ambitious startups to invest in and help grow into solid businesses. David M. Daggett, an experienced accounting professional, who once served as the chief financial officer of a $250 million venture fund, knows all too well how private investment is helping shape the future of entrepreneurship. As a native of California, he’s also seen the impact venture capitalists have had in Silicon Valley and the plethora of game-changing ideas that have seen the light of day as a result.

Private investment by venture capitalists, angel investors, and private equity firms are medium to long term, often with the requirement that these investors get an equity stake in the business. Some private investors just want a stake in the business; others will want to take a more visible role in operations/management. Still, the underlying factor is that the business has to display growth potential and have solid management.

As an entrepreneur, you have to know what private investors are looking for. Getting a venture capital to finance your business idea is very different than approaching a lending institution for a loan. These institutions will charge interest on the loan, whether the business is successful or not. For private investors, a return on investment is their main goal.

With private investors, a business has to possess the potential to grow within five years for it to make business sense. Lack of such potential is likely to discourage them.

David M Daggett CPA is an experienced Certified Public Accountant with extensive knowledge on venture capital and entrepreneurship.

David M. Daggett CPA – How to Grow Your Business

David M. Daggett, CPA has worked as a professional accountant for more than 30 years, during which he’s honed his skills and had much success in growing a business. Like many successful entrepreneurs, Mr. David Daggett has had to cultivate a culture of hard work and passion in order to steer the business towards lucrative rewards.

While your business could be based on a good idea, it’s good to know what makes it grow. Because many people are choosing to become entrepreneurs, there is a lot of competition that requires you to have an edge. Here’s how you grow the business.

Be Unique

You can pull away from the competition by being unique. Consider your strengths and how you can differentiate your approach from others. For example, if other businesses are more focused on attractive packaging, you can make yours focus on a better customer experience.

Be an Authority

People tend to work with entrepreneurs who have established themselves as authority figures in the industry. You can become one by publishing articles or whitepapers, or even writing a book. Drum up support for the book through marketing events to get more visibility.

Authority figures get more coverage than individuals who have not worked on establishing credibility.

Get to Networking

You would be surprised how fast your business can grow if you networked with others in the local community. Find out how your business can help the local businesses and organization, whether through partnerships or sponsorships.

David M Daggett CPA is a former CEO of Gator Hawk Armor, Inc., a body armor manufacturing company.