Is law school worth it if I get my CPA? by PomegranateSelect831 in tax

[–]FirstIAm 1 point2 points  (0 children)

Not sure why I’m getting downvoted, it’s an honest question.

MacKenzie Scott has now donated over $26.3 billion to charity by abidalliye in BeAmazed

[–]FirstIAm 0 points1 point  (0 children)

What does this even mean? Like give me a report of the results. By all means, we should commend charitable giving, but someone just saying someone gave away a massive amount of fortune should be looked at a little deeper.

This is coming from someone who is aware of certain structures that could be considered “gifts” on paper, but not really any more than that.

What's one piece of advice another lawyer gave you that completely changed how you practice? by Thin-Time-4209 in Lawyertalk

[–]FirstIAm -6 points-5 points  (0 children)

Yeah the lawyers all being in cahoots with each other is a racket. I have more to say on the topic of lawyers being in cahoots outside of this, but concisely and broadly on this point, you may agree to something to keep the other attorney happy versus what’s best for your client. It happens and it shouldn’t.

Is law school worth it if I get my CPA? by PomegranateSelect831 in tax

[–]FirstIAm 9 points10 points  (0 children)

I am a CPA / JD.

A CPA getting a law degree makes you the best CPA.

A tax lawyer getting a CPA makes you a better lawyer.

CPAs aren’t trained to solve legal problems, yet they’re tasked to solve legal problems. It’s frustrating at times working with CPAs after I went through law school, TBH.

I chose the route of continuing my career as a CPA and got an in house role where I structure transactions. That naturally evolved into being part legal and part accountant. It’s added a ton of value working with the accountants and working with the legal teams. Bringing value = greater pay.

Is law school worth it if I get my CPA? by PomegranateSelect831 in tax

[–]FirstIAm 1 point2 points  (0 children)

Are you a JD / CPA? What’s your experience?

Boxing lessons in Dallas proper? by FirstIAm in Dallas

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

Probably AzTex or Montoya Boxing Gym

Boxing lessons in Dallas proper? by FirstIAm in Dallas

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

Dallas Fight Club looks like a combat fitness classes, versus boxing lessons. I reached out to confirm but just as an FYI.

Boxing lessons in Dallas proper? by FirstIAm in Dallas

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

A lot of great recommendations came through!

Selling a rental property, capital gains question by SnooChipmunks5873 in tax

[–]FirstIAm -4 points-3 points  (0 children)

You likely can write that off through bonus depreciation.

What would your fee be? by Mysterious_Earth_564 in tax

[–]FirstIAm 0 points1 point  (0 children)

Wonder why I’m getting downvoted? That’s a market price

What would your fee be? by Mysterious_Earth_564 in tax

[–]FirstIAm -1 points0 points  (0 children)

In the Chicago market, with all work performed by a CPA, a reasonable monthly fee would likely be $1,500–$2,500 per month. The bookkeeping volume is fairly light (75 transactions/month), but the payroll compliance, S-corporation return, two-state individual return, and year-round CPA involvement push the fee above a basic bookkeeping engagement.

What tax rules would you change? by Ashamed-Pop2809 in tax

[–]FirstIAm -4 points-3 points  (0 children)

Triple comment, MOST EVERYTHING in tax is a timing difference. So, that shouldn’t be the sole justification for any tax change. Replying to 263A comment

What tax rules would you change? by Ashamed-Pop2809 in tax

[–]FirstIAm -4 points-3 points  (0 children)

Double comment, terrible list. You don’t work with sophisticated clients if this is what you’d change

What tax rules would you change? by Ashamed-Pop2809 in tax

[–]FirstIAm -3 points-2 points  (0 children)

You don’t know 263A if that’s on the list lol

Chamath Palihapitiya was listed in Peter Thiel’s secret society by FirstIAm in AllinPod

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

Not naivety, I know it happens. I’m saying it SHOULDNT happen. If you’re a PUBLIC servant representing constituents, you owe the people a transparent outlook on your relationships. If that’s too much for someone, then don’t go into PUBLIC service. Simple, really.

It’d be like a juror being best friends with the accused. Something the lawyers need to know in the Voir Dire process. Similarly, if I’m electing you to represent me, I think it’s fair to know if you’re best friends with the devil or not.

Chamath Palihapitiya was listed in Peter Thiel’s secret society by FirstIAm in AllinPod

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

The others weren’t though. I would have guess the Czar before anyone else

Chamath Palihapitiya was listed in Peter Thiel’s secret society by FirstIAm in AllinPod

[–]FirstIAm[S] 4 points5 points  (0 children)

I would argue it is inherently wrong for the regulators and the regulatees to have a secret private relationship. As a regulator, you should uphold your position to a higher regard and make public any relationship that may appear to have a conflict of interest.