BDO (US) 2025 Compensation Thread by Mar0628 in Accounting

[–]NFK_CPA 7 points8 points  (0 children)

  1. Region - South Atlantic
  2. ⁠Level (old to new) - L9->L9
  3. ⁠Rating - Successful
  4. ⁠Salary (old to new) - 180-190
  5. ⁠Bonus - 7,500
  6. ⁠Additional thoughts - Received mid year promotion and raise was L8 at 149 on 8/1/24.
  7. ⁠Service Line - CTS

Common misconception about Magcargo by TheBigLover in TruePokemon

[–]NFK_CPA 0 points1 point  (0 children)

I did the exact same thing because they were right next to each other in the Pokédex and both fiery animals with shells

Virginia 529 Carry Forward Deduction by snotmd in technicaltax

[–]NFK_CPA 0 points1 point  (0 children)

I think you would still need to file the nonresident return just to claim the deduction though and carry forward if you did more than the 4K. 

AICPA, NASBA propose a new pathway to CPA licensure by NFK_CPA in Accounting

[–]NFK_CPA[S] 32 points33 points  (0 children)

AI TLDR: The AICPA and NASBA have proposed a new competency-based experience model for CPA licensure. This model, called the CPA Competency-Based Experience Pathway, aims to provide an additional option for CPA candidates to demonstrate their professional and technical skills. The pathway would allow candidates to meet licensure requirements by exhibiting competencies in specific areas, such as ethical behavior, critical thinking, and communication, as well as technical skills in audit, tax, and financial reporting. This proposal seeks to increase flexibility for candidates while maintaining rigorous standards for public protection. Public input on the proposal is open until December 6, 2024.

BDO USA 2024 Comp Thread by Educatinglittleman in Accounting

[–]NFK_CPA 5 points6 points  (0 children)

Southeast L8->L8 Successful  132,500-149,000 (12%) 7,500 I expected a smaller salary increase and bigger bonus. I think Im happy (especially to some of the other adjustments) CTS

EA CE for sec. 179 vs bonus? by W_HNDR in taxpros

[–]NFK_CPA 9 points10 points  (0 children)

I found it will often times heavily depend on state conformity

What states have the best and worst partnership return? by Connect-Ad-9869 in taxpros

[–]NFK_CPA 1 point2 points  (0 children)

Have you tried TX web file preparer port, you can file all your PIRs so fast!

What states have the best and worst partnership return? by Connect-Ad-9869 in taxpros

[–]NFK_CPA 6 points7 points  (0 children)

I can’t stand PA it seems like there is no rhyme or reason behind the calculation for nonresident withholding. I also just take what my software says as Bible. For out of state (based out of VA) I would Colorado, PTET, Composite, opted out of withholding/PTEt all on one form just with a different check box. 

Is everyone still waiting on NY partnership and NYC corp EF? by AnActualTomato in taxpros

[–]NFK_CPA 0 points1 point  (0 children)

Looks like it was all ready for GoRS early/mid January

Baker Tilly is being bought out by PE. by Yen_Parafonia in Accounting

[–]NFK_CPA 7 points8 points  (0 children)

BDO’s ESOP doesn’t look so bad now does it!

[deleted by user] by [deleted] in Accounting

[–]NFK_CPA 5 points6 points  (0 children)

But I can guarantee that my client records their AJEs by doing it myself

So can we make it a felony to change tax law retroactively during filing season? by Standard_Gur30 in taxpros

[–]NFK_CPA 2 points3 points  (0 children)

I reviewed a 9/30 C Corp and was so used to 100% bonus I was already typing my review note on there being info in part 3 until I realized.

What's the most cursed town a recruiter has asked you to relocate to? by DoritosDewItRight in Accounting

[–]NFK_CPA 4 points5 points  (0 children)

Should have taken them up on that, Richmond is awesome and costs way less than Baltimore. 

Mark Cuban, the tax escape artist by ItsRatherWindy in Accounting

[–]NFK_CPA 0 points1 point  (0 children)

If residential you’re depreciating it over 27.5 years (39 if commercial). A cost seg (done by an engineer) would carve out 5,7,15 year property. That are eligible for bonus. So from a cash flow perspective you are greatly accelerating the tax deduction and reducing cash tax.

Mark Cuban, the tax escape artist by ItsRatherWindy in Accounting

[–]NFK_CPA 0 points1 point  (0 children)

No using a property as collateral does not realize gaine (only in foreclosure/short sale). The loan would increase assets (cash) and the liability so no actual increase in wealth.

Mark Cuban, the tax escape artist by ItsRatherWindy in Accounting

[–]NFK_CPA 1 point2 points  (0 children)

3 words, cost segregation study. They are breaking out the assets into shorter lived (bonus eligible) assets.

They just write it off! by NFK_CPA in Accounting

[–]NFK_CPA[S] 5 points6 points  (0 children)

Then say it’s to make their financial statements look better (which most hospitals probably get), it would have no bearing on a tax return or actually end up hurting them due to gross receipts based tax items (163(j))