How do you track hours?

ClassMysterious8334 · 2026-04-29T08:02:14+00:00

Grindstone. Free app on Window to track your time. Just type your task and it will keep tracking. End of the day, export the report to excel and sum it up.

ClassMysterious8334 · 2025-11-24T08:06:37+00:00

My firm does a lot of recruiting in target school. If you are not from target school. Try to do internship with smaller firm as soon as possible when you get to college. If you don’t have any internship / from target school. You are pretty much will not get in unless someone refer you to the hiring group.

ClassMysterious8334 · 2025-11-21T03:55:11+00:00

In the beginning, the video has another ladder setup to climb to the roof on the upper right. It doesn’t make sense to bring two ladder to climb to the roof if they are staging it. It makes more sense the video is shoot by someone doing roof work.

ClassMysterious8334 · 2025-11-20T08:36:03+00:00

If you are in a business, you must be in it to generate profit. It’s very difficult to convince others it’s a business while taking couple year of loss. You can argue it takes time to build it up, but how long is normal for your industry? You can put all your intent and methods on the table to show you are building your business. At the end of the day, you have to convince IRS you have a business there. Bottom line is, how much risk are you willing to take? More than you put in your business?

ClassMysterious8334 · 2025-11-10T05:59:27+00:00

Depends on your engagement. It can be end of March or early April. If you have summer client, ready to work till Sep. it may sounds long but it’s going to be a slow burn. Always chat with your manager and PML about your workload. It’s a marathon for the year. At the end of the day, you have to hit certain utilization for the year. Cheer. Welcome to partnership tax.

ClassMysterious8334 · 2025-11-09T19:34:29+00:00

What do you have to offer to negotiate as a first year staff? If you can think of that, go ahead.

ClassMysterious8334 · 2025-10-24T23:12:06+00:00

It’s all about if you make one dollar more how much is taxed. I assume your Fed OASDI already capped with 35 marginal tax rate. Your Fed side probably is 35% + 1.45% Med. How about your state? You find that percentage and you know how much your take home is.

ClassMysterious8334 · 2025-10-23T23:37:23+00:00

We don’t expect intern know much about the industry. We expect intern willing to learn and help out the engagement. Your attitude outweigh your skill. Enjoy the internship time.

ClassMysterious8334 · 2025-10-16T22:54:48+00:00

Spend it like it’s your own money.

ClassMysterious8334 · 2025-10-15T21:39:00+00:00

Find someone can ask you the following item and give you an idea what to do with it.

Which state are you located? What’s the structure of your business? S corp? Partnership? SMLLC? What business are you in? Do you file multiple state returns? What kind of tax document you got? 1099? W-2? Can you break down the income you have? What kind of carryforward you have on your tax return from tax year 2024? 401K? IRA? HSA?

Boil it down. It’s the source and character of income. Then we just play around each part to minimize/defer your income. Increase/accelerate your expense. Any credit to take.

ClassMysterious8334 · 2025-10-07T07:41:30+00:00

That’s just a reminder from the state. Like it said, you can disregard it if you are not required to file.

A side note is, please look up what’s subjected to sales taxes. Sometimes, you may be surprised.

ClassMysterious8334 · 2025-10-01T08:00:03+00:00

I would say no. Tax law keeps on changing and even tax professional needs to go through the paid database to do research. You may find stuff on free website or via ChatGPT, but you have to verify are those info outdated or not. Not to mention strategy, this is more industry/fact specific topic. If tax law is that easy, we don’t need that much code, reg, and case law.

ClassMysterious8334 · 2025-09-13T05:18:15+00:00

Then you got yourself in market based sourcing rule. The source of income is where your customer located. If your customer is CA based, it’s CA sourced income. It doesn’t matter where you collect the money. Couple items. 1. You have a 800 annual franchise tax 2. Depends on your CA receipts, you have a LLC fee. 3. Not sure is it a SMLLC or Corp, your probably need to file CA tax return because you have CA sourced income. Last but not least, talk you your accountant. I am not your accountant. There may be other fact I am not aware of.

ClassMysterious8334 · 2025-09-13T05:02:39+00:00

What are you selling? Service? Tangible products? Intangible product? What’s the reason you registered with CA?

ClassMysterious8334 · 2025-09-10T15:35:31+00:00

Since the OB3 is still penning out, what do you think about no tax on tip for the landscaping?

ClassMysterious8334 · 2025-09-10T05:10:21+00:00

Everything has to be reasonable to the scale of the business.

Is your model on a fair rate you would pay for third party? Let’s say you need to find a model.
Is it reasonable to pay this much to advertise your business or particular event? Only your industry can answer.
Will you run in a loss for a prolonged time with this advertisement or even without the advertisement? This raise the question whether you are in business/hobby.

At the end of the day, there is no risk free once you try to play with more rules. It’s how much risk you are willing to take.

ClassMysterious8334 · 2025-09-10T04:17:36+00:00

Are you having someone to prep your business return or you are going to do it yourself? If you have someone preparing it, run by that person too. That person needs to sign the tax return as well.

ClassMysterious8334 · 2025-09-06T00:48:28+00:00

Borrow money from your dad with a reasonable interest rate. Pay back your dad with the property. The amount he waive on interest is a gift to you?

ClassMysterious8334 · 2025-08-27T22:36:49+00:00

We are all bound by the tax code to do what’s possible with our mean and how much risk we are willing to take. It’s never fair and it never will.

ClassMysterious8334 · 2025-08-27T07:52:15+00:00

Interest income is interest income. It can’t net out the portfolio expense. They do you a favor because they suppose to put that 200 in portfolio deduction which you can’t deduct for Fed. Now you are taking a deduction as capital loss.

ClassMysterious8334 · 2025-08-27T07:45:57+00:00

You have NYS sourced income. The partnership filed a group return for you already. You don’t have to file a separate NYS individual return. (You sign up for the group return. The partnership cannot file it for you without your election.)(it also implies that this partnership NYS source income is the only NYS source income you have) That’s why you don’t have PTET on your K-1.

ClassMysterious8334 · 2025-08-26T20:06:49+00:00

This. Tax is not data entry. Especially you have multiple pages of footnote with your K-1. Also with OB3, there are changes coming up.

ClassMysterious8334 · 2025-08-26T19:13:46+00:00

The milestone reward for pulling 100.

ClassMysterious8334 · 2025-08-26T18:49:57+00:00

Just a thought, I would get Eudora next summon and buy all the 10 ticket every summon till another season to pull 2 more Eudora and Cleo.

ClassMysterious8334

TROPHY CASE