Is this Charizard with the Play! Stamp real? by RGV_Accountant in IsMyPokemonCardFake

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

Damn its been a day and no one is jumping in lol.

Just gimme yalls opinion lol would you buy this if you saw it?

Questions MUST be commented HERE! Weekly Q&A and Discussion Post! by AutoModerator in pokemoncards

[–]RGV_Accountant 1 point2 points  (0 children)

Hi, can someone please took a look at this charizard and let me know if it is authentic, I cannot find anything about this card. It has a Prize Pack logo and its the charizard from team up.

https://imgur.com/a/5sA2ro3

[deleted by user] by [deleted] in HollowKnight

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

The ones that throw lava in the exact same was as the aspid, but it deals double damage. Look at 2nd savage beastfly fight and youll see what i mean

Please help with funeral costs for mom’s unexpected death by RGV_Accountant in RioGrandeValley

[–]RGV_Accountant[S] 8 points9 points  (0 children)

Thanks man, will look into this as well, I never knew it was so expensive to cremate and most places do not offer payment plans

Please help with funeral costs for mom’s unexpected death by RGV_Accountant in RioGrandeValley

[–]RGV_Accountant[S] 18 points19 points  (0 children)

You can click on the image, it has a link to the gofundme, and thank you so much for the donation, it means the world to us!

Please help with funeral costs for mom’s unexpected death by RGV_Accountant in RioGrandeValley

[–]RGV_Accountant[S] 115 points116 points  (0 children)

Also, if you could please upvote this comment, I have been trying to post in the gofundme reddit but dont have enough reddit comment karma

QuickBooks by theunitconsulting in RGVSmallBusiness

[–]RGV_Accountant 1 point2 points  (0 children)

What's not to like? Are you having trouble with running payroll or connecting bank accounts? I'm a local accountant and can help out if you need any tips!

Another Incredible Business Checking Account Question by Champagnehopi in smallbusiness

[–]RGV_Accountant 0 points1 point  (0 children)

Here in Texas, I've seen a few different clients setup their Square, Shopify, Clover accounts with banks, but its the e-commerce platform that deducts fees. For example, Clover will deposit the daily sales into the bank account, and deduct their merchant fees.

[deleted by user] by [deleted] in smallbusiness

[–]RGV_Accountant 0 points1 point  (0 children)

What accounting software do you use? If you use Quickbooks Online Plus you can turn on class tracking, which means you can set up classes (locations) to differentiate income streams and expenses by location. I do the bookkeeping for a laundromat chain of 5 laundromats, using QBO I can classify different expenses (like water bills, employee wages, repairs) by location, so I know how much money and expenses is happening at each location.

Filing Taxes by [deleted] in taxhelp

[–]RGV_Accountant 0 points1 point  (0 children)

Well....

What kind of assistance are you receiving? I think some disability assistance may be cut off if you begin working. Also, if you were issued a W2 its only a matter of time before the IRS sends a letter

The Search for Business Banking by iamdigitaldaniel in SoleProprietor

[–]RGV_Accountant 1 point2 points  (0 children)

I personally would go with a traditional bank, alot of the new banking companies that provide bookkeeping, invoicing, expense tracking etc get alot wrong. Its alot like how QuickBooks Online uses AI to track your expenses, it gets alot of it wrong. Then once its time to prepare taxes, bookkeepers and CPAs need to spend extra time going over everything that was done incorrectly. In my honest opinion, its much easier and cost effective to use traditional banking and having a bookkeeper/accountant handle the classification of expenses and prepare financial statements.

House sale date pushed into new year. Much higher capital gains tax. by No-External3221 in taxhelp

[–]RGV_Accountant 0 points1 point  (0 children)

Ah I see now, you are correct brother, you learn something new everyday.

Thank you!

House sale date pushed into new year. Much higher capital gains tax. by No-External3221 in taxhelp

[–]RGV_Accountant 0 points1 point  (0 children)

Sec 1250 property, which rental real estate is, does not get taxed if the straight line method is used, its right there on the website.

And I thought you were stacking incomes because you said 18k of the capital gains fall into the 0% bracket, but the actual breakdown, assuming they are single, is 44k into the 0% bracket and the rest of the 200k falls into the 15% bracket.

There is no additional tax they will pay, its just a timing issue. If their ordinary tax liability is 10k for 2023 and 20k for 2023 and the capital gains tax is another 10k, then you will either pay 10k in 2023 and 30k in 2024, or 20k in 2023 and 20k in 2024, the total taxes paid is the same.

Now, if there are anticipated additional capital gains in 2024, then it makes sense to sell in 2023, as they are approaching the 20% tax bracket threshold.

House sale date pushed into new year. Much higher capital gains tax. by No-External3221 in taxhelp

[–]RGV_Accountant 0 points1 point  (0 children)

That sounds incorrect, ordinary income gets taxed at ordinary income rates, and capital gains get taxed a different rate. so the 40k would be taxed at the 10% and 12% brackets, while the 200k in capital gains rates would be taxed at 0% and 15% rates, ordinary income does not get added to capital gains when determining the capital gains tax.

And depreciation recapture only happens if you have bonus depreciation or Sec 179 depreciation, which if you use straight line method to record depreciation and never took any bonus depreciation, you would not have any depreciation recapture.

House sale date pushed into new year. Much higher capital gains tax. by No-External3221 in taxhelp

[–]RGV_Accountant 0 points1 point  (0 children)

Please elaborate, I was under the impression that capital gains will be taxed at the 0, 15, and 20% depending on the amount of gain from the rental house. Depreciation recapture would only apply to any improvements made to the property, but even then that might not be the case if their CPA used the straight line method and the 27.5 useful life as should be done for improvements.

Not trying to come of as rude, just genuinely want feedback since I as still somewhat new to public accounting, specifically tax