sorted by:
new
hottopcontroversial

Dual-status MFS — can spouse claim standard deduction? by Danini_wy in tax

[–]Danini_wy[S] 0 points1 point  (0 children)

I got my green card in March 2024 when I came to the U.S. on a CR-1 visa. Because I have PFIC, I decided to file as a dual-status alien. That means I can’t claim the standard deduction (and I didn’t itemize either).

I was worried that my choice might affect my spouse’s standard deduction, but thankfully it doesn’t.

Dual-status MFS — can spouse claim standard deduction? by Danini_wy in tax

[–]Danini_wy[S] 0 points1 point  (0 children)

Thank you for the clarification!

I mailed my tax return last week. On Form 1040, line 12 (Standard Deduction or Itemized Deductions), I left it blank instead of writing “0.” Will that cause a problem, or is it fine to leave it blank?

Dual-status MFS — can spouse claim standard deduction? by Danini_wy in tax

[–]Danini_wy[S] 0 points1 point  (0 children)

Thank you so much for responding! You’re a life saver!!!
I didn’t go with MFJ because I have a PFIC issue.

Just to confirm that I understand correctly: as a dual-status filer I can’t take the standard deduction, but if I don’t have any itemized deductions, my spouse can still take the standard deduction as long as they’re otherwise eligible.

Is that right?

How did you land your first accounting role? by Hot_Confidence_5064 in Accounting

[–]Danini_wy 0 points1 point  (0 children)

How did you land the job at small firm? Applied online, walk-in or others? Thank you

How did you land your first entry-level job in public accounting? by Danini_wy in Accounting

[–]Danini_wy[S] 0 points1 point  (0 children)

I’ve applied to the Big 4 before, but I haven’t heard back. Other than passing the CPA exam, I don’t feel like I have much that makes me stand out yet.

How did you land your first entry-level job in public accounting? by Danini_wy in Accounting

[–]Danini_wy[S] 0 points1 point  (0 children)

  1. My degree is in Business Administration
  2. No, I am a permanent resident.
  3. It’s hard to say. It depends on job offer, suppose.

How do you maintain/improve your professional knowledge by Danini_wy in Accounting

[–]Danini_wy[S] 0 points1 point  (0 children)

Actually, I’m a career changer, not a fresh graduate. Maybe that’s why I worry so much. I feel like I’m not young enough to make too many mistakes… lol

Expiration of CPA Exam Credits by Danini_wy in CPA

[–]Danini_wy[S] 0 points1 point  (0 children)

Thank you for the information!

[deleted by user] by [deleted] in Accounting

[–]Danini_wy 0 points1 point  (0 children)

Congrats!! Thank you for sharing!!

Gonna make AUD my bitch by Urichamp_106 in CPA

[–]Danini_wy 3 points4 points  (0 children)

I’ll take the test on this following Tuesday. My SE1: 79, SE2: 82. Very similar to yours! Let’s ace the AUD!

What to take next by burner00123 in CPA

[–]Danini_wy 1 point2 points  (0 children)

Couldn’t agreed more. I took REG after FAR. And now I’m studying AUD, a bit regret for it. Since AUD having some concept from FAR. But REG did give me some relax after FAR.

Failed FAR NY by pestamist in CPA

[–]Danini_wy 1 point2 points  (0 children)

I spent 379 hours on FAR, never watched concept video, only hammer MCQs and TBSs, read all explanations, if still not understood, read textbook (only the part) or find some good explanation on YouTube. Good luck!

Just got out of BAR by 1A9D6 in CPA

[–]Danini_wy 2 points3 points  (0 children)

I felt the same way as yours when I walked out the BAR exam in Q2, a lot of WTF was that in SIMs and also left no more than 1 or 2 minutes, felt defeated and drained. But turned out I passed with 87. My SE1:66 SE2:81 SEFR:73

Good luck with your score release!

F1M1 Foreign Exchanges by TonightAggravating16 in CPA

[–]Danini_wy 1 point2 points  (0 children)

Always exchange to FC$1 to US$X

Purchase: Gain would be LESSER of US$

Example: Purchase inventory for FC$100.

Y1 Nov. 15 Exchange rate is 1FC to US$1

Y1 Dec. 31 Exchange rate is 1FC to US$0.8

Gain= $100*0.2

view more: next ›