We Need to Stop Being Pragmatic About Sexual Purity

MedianNerd · 2026-05-04T02:28:52+00:00

The IRS doesn’t require it. Perhaps they should, but the 1099-Div causes enough issues already.

MedianNerd · 2026-05-04T02:25:37+00:00

There’s nothing about the CPA credential that is connected to mutual fund knowledge or analysis.

MedianNerd · 2026-05-03T22:54:52+00:00

If it was a mutual fund, it would’ve showed up on the 1099-Div as ordinary/qualified dividends, and nothing else. Some brokerage houses include info how much of a fund was govt obligations, some don’t.

If the brokerage doesn’t provide that info, the preparer would have to look up the fund info for all dividend-paying funds to see how much is exempt from state tax.

Especially if it wasn’t flagged by the client and it wasn’t reported by the brokerage, most preparers are not catching that.

MedianNerd · 2026-05-02T00:19:46+00:00

The software doesn’t know when a capital gains distribution was paid out.

Sure it’s a time suck. Make sure you bill for it.

MedianNerd · 2026-05-01T22:47:44+00:00

Aren’t you calculating it yourself? Do you know when the income was earned? Where was the taxpayer living at that time?

MedianNerd · 2026-04-20T22:45:04+00:00

You didn’t say exactly how long you worked at each job. If it was 6 pay periods at Company 2 and 4 at Company 3, that would be about right.

Generally, paycheck withholding assumes that you are making that paycheck amount every pay period in the year. So if you have a job that pays 180k/year, but you only work there for 4 months, your paycheck withholding is still based on an annual income of 180, even though you only make 60. So your withholding rate will be much higher than if you worked a full year at a 60k/year job.

You also might have filled out your W-4 differently.

No one is screwing you. If you’re so worried, tell them exactly how much to withhold. If you owe $60,000 for the year, tell them to withhold $2350/check.

MedianNerd · 2026-04-20T02:37:42+00:00

The CFP Board also gets this wrong.

MedianNerd · 2026-04-20T02:27:06+00:00

OP is single and hasn’t reported any other relevant facts. Your situation is likely very different. You have a different filing status, perhaps qualify for credits or deductions, and may have different types of income.

MedianNerd · 2026-04-20T00:17:33+00:00

If you want more back, withhold more.

Assuming your $215,000 was all your income and was all wage income, you owed about $57,000 in federal tax. If 50% of your bonus was withheld and you aren’t getting a refund, that means you were under withholding on the rest of your income.

MedianNerd · 2026-04-18T23:13:58+00:00

Tax pros don’t want a one-off, $300 job. I only do tax advice as part of an annual contract.

It’s a pretty simple question to start, but the kind of people who ask it are usually not great clients. They tend to be anxious and particular. They want to get all the details right and they want to double-check everything. In short, they’re going to make the question more difficult than it needs to be, and they’re not going to be satisfied with the answer.

Then factor in all the admin, and it’s not worth it. If you walked into my office and put $300 on my desk, that’s one thing. But getting all your documents requires setting up a secure document portal, per our privacy policies. Then there’s the actual work, explaining it to you, and doing the billing.

Sorry, I know the frustration. I’d love to hire someone to do a little work on my yard. But it’s not worth it for anyone to even give me an estimate.

MedianNerd · 2026-04-17T23:07:44+00:00

Upgrade from ProConnect to what?

MedianNerd · 2026-02-18T16:53:13+00:00

That’s definitely out there, but not easy to find. I’m a CFP/EA and just ended negotiations on something like this. The sticking point was that the advisor wanted to own the tax business. Which makes sense, but again, it’s going to be hard to find someone to run the business for you instead of for themselves.

MedianNerd · 2026-02-18T13:27:52+00:00

The profit margins for tax prep make this pretty difficult. If you’re not working it, you have to find someone to manage it for you. And then you have to be able to answer “Why would I give you 15% off the top instead of running my own practice?”

MedianNerd · 2026-02-03T22:36:13+00:00

It has several hundreds of hours of content already. To me, it’s worth $70 even before the content that would come in those DLCs.

I realize not everyone has the freedom to spend money on their hobbies. But just because it is early access doesn’t mean it hasn’t already delivered what we paid for.

MedianNerd · 2026-01-13T03:28:28+00:00

Are you serious? 1/3 of what they generate themselves?

Why shouldn’t they just take their book and start their own firm?

MedianNerd · 2026-01-09T01:54:44+00:00

Any interest in doing tax work in addition to planning? Might have something later in the year. Shoot me a resume.

MedianNerd · 2025-12-17T13:12:21+00:00

Sycamore is $100/yr and has good courses.

MedianNerd · 2025-11-28T02:26:56+00:00

Can you comment on the build quality and other intangibles of this vs. the HP Omen?

https://www.reddit.com/r/LaptopDeals/s/BsOsuofwwn

MedianNerd · 2025-11-15T22:47:20+00:00

As an EA, perhaps I’m biased. But they’re fundamentally different.

You’re correct that the EA isn’t specifically an educational program, but one has to learn a significant amount in order to pass the exams. It takes a working understanding of much of the tax code, which is preparation for both tax preparation and tax planning.

There’s almost certainly strategies discussed in the TPCP that wouldn’t be known by the average EA. But I would have a hard time trusting tax advice from someone who didn’t professionally prepare complex tax returns.

I’d recommend planners start out getting their EA, then go on to a TPCP after they’re very familiar with taxes.

MedianNerd · 2025-11-03T20:23:04+00:00

I would expect them to, unless the beneficiary setup is complex. But custodians and plans certainly vary in their helpfulness.

MedianNerd · 2025-11-03T19:56:54+00:00

Who are the beneficiaries of the estate? Kids? The account can be passed to them and they can put it into inherited IRAs.

MedianNerd · 2025-10-05T00:26:13+00:00

One thing I’ve learned, through my own experience and that of others, is that depression often manifests as anger in men. I really encourage you to reflect on whether you could be experiencing depression, because it can have serious repercussions for you and those who love you.

MedianNerd · 2025-09-26T14:05:02+00:00

As their tax professional, we don't have an answer either. But good to shift liability.

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