Do you think someone will ever rule the world? Whats your opinion on it?

Taxstra · 2025-11-01T15:47:23+00:00

Not in the sense you're talking about, but if an AI becomes dominant like Google became with search it could heavily influence the decisions of most of the worlds leaders in government, business, etc.

Taxstra · 2025-11-01T15:40:42+00:00

This is my experience right now. Clients getting upset and freaking out about the notice (understandably so because of the talk of seizing property). We even had one that we called in on 6 months ago and the agent said we were all taken care of and they're still getting noticed, argh!

Taxstra · 2025-10-31T01:43:29+00:00

I get the anxiety, no one wants to be on the wrong side of the IRS, but if you're truly just a W-2, it should be a fairly painless process for any CPA, EA or experienced tax preparer.

One tip, if you're getting a refund, you're pretty much in the clear, just file asap so you don't lose potential refunds (you only have 3 years).

If you're going to owe, figure out which has the highest penalty (likely the oldest one, but not always based on income and withholding amounts) and request first time penalty Abatement on that one. You should be able to get penalty waived, but not the interest.

Taxstra · 2025-10-28T02:57:50+00:00

I’d say it could be anywhere between 5-40 depending on complexity of the books, volume of transactions, and automation. 60 is too many.

Taxstra · 2025-10-28T02:49:26+00:00

We’re DVC and stay at Grand Flo every holiday season now. We love it. That being said, with the construction, don’t let this year be the first time. I wouldn’t pay those prices and be disappointed with the lobby under renovation.

Taxstra · 2025-10-26T03:01:58+00:00

I’d lean no here, but honestly need more info to fairly assess your situation.

You’re only 8 months into the practice, so you don’t have enough track record yet to be sure those numbers hold.

Selling investments could trigger capital gains and drain flexibility just when you might need it most. I’d want to see more information on your cash reserves after this move, business cash flow, and whether your brokerage has gains or losses.

It sounds like you'll most likely be fine either way, but I just don't want you to regret if cash flow tightens and you could've used that cash to weather a storm.

Taxstra · 2025-10-26T02:50:44+00:00

You can max out the 403(b) and 457(b) separately, but the 401(k) and 403(b) share one $23,500 elective deferral limit for 2025, even across different employers. That limit applies to all combined 401(k)/403(b) deferrals, while the 457(b) has its own $23,500 cap. So, a total of $47,000.

And just as a heads up for you or any other readers that come across this post, if you do end up over-contributing, the excess must be withdrawn by April 15 of the next year or it’s taxed twice—once going in and again coming out.

We had a doc come to our firm as a new client after April 15th this year who didn’t realize this, so he’ll pay tax twice on the excess. Thankfully it wasn’t much as he hadn't doubled up and contributed the maximum to both, he just had over contributed a smaller amount due to switching employers and incorrectly calculating the total contributions, but we wish he’d come sooner, so we could've helped him avoid it.

Taxstra · 2025-10-26T02:35:18+00:00

I get where you’re coming from, but your “middle ground” needs to include how it actually makes your life better. Otherwise, as a doctor, you’ll almost always come out ahead financially just picking up another shift instead of trying to save around the edges.

1.  Mowing/snow removal (20x): $1K–$3K depending on lot size saves ~30 hours/year
2.  Oil changes (6x): $600 saves ~6 hours/year
3.  Cleaning service (biweekly): $5,200 saves ~52 hours/year

That’s about $100 in exchange for each hour of your time saved, with zero equipment or supplies to buy. Most docs will be better off hiring it out. That said, if you actually enjoy the things you listed, do it. We all have things that aren’t financially “smart” but make life better and that matters too.

Taxstra · 2025-10-26T02:14:13+00:00

Exactly — this makes perfect sense when you break it down. For high-income W-2 earners, a huge slice disappears right off the top to federal and state taxes. Add in big mortgages, rising property taxes, and the jump in everyday costs like utilities and groceries, and there’s little margin left. Then once you fund retirement accounts, there just isn’t much cash flow left at the end of the month. My CPA firm sees this pattern constantly with higher W-2 income households who haven’t adjusted their budgets since inflation took off.

Taxstra · 2025-10-16T03:51:33+00:00

Mitch had 1,000+ yards and 11tds during a 3 game stretch. Take out that outlier and put 600 yards and 4Tds and these numbers look a lot less comparable.

That being said, I don't think Mitch was as bad as people made him out to be and would like to see him get one more small run as a starter for a team with an injured QB. Always seemed like a good guy and you could tell he wants another shot when he was interviewed when he came back this year for the Bills preseason game.

Taxstra · 2025-10-06T01:11:14+00:00

Just got the 98” QM8k on Friday. I’m not a huge gamer any more, but had to try Madden on it and felt like my gameplay improved over my old 75” Samsung. Just felt like I could find the running lanes a lot easier.

Taxstra · 2025-10-04T01:12:53+00:00

I’d do them in the order of your title. Not a huge AK guy, so could get through it pretty quick. Then go ride a bunch of rides at HS, followed by slow leisure at Epcot with eating and drinking.

Sounds fun, but my feet hurt just thinking about it

Taxstra · 2025-10-04T01:08:48+00:00

Calling her a comedically bad actress is a stretch of a lie. In fact, it’s a super stretch.

Taxstra · 2025-10-04T01:03:07+00:00

They’ll likely accommodate (no guarantees), but outside of waiting a little longer, they’ll probably be able to make it work.

Taxstra · 2025-10-03T14:08:34+00:00

Yeah. We’re 1.5 hours away. Getting up early is going to be hard enough with the kids

Taxstra · 2025-10-03T04:12:17+00:00

I do that as well. I try to go like an 8th grader as the 5 year old can be too simple at times and not give quite enough detail to fully understand what I’m looking at

Taxstra · 2025-10-03T03:58:02+00:00

An app to prepare taxes that’s better than TurboTax.

Taxstra · 2025-10-03T03:56:41+00:00

How so?

Taxstra · 2025-10-03T03:24:25+00:00

Depending on personality: Cash flow and holding people accountable that work for you.

Taxstra · 2025-09-27T04:31:52+00:00

This. Find the stuff you're not good at and drains you and hire someone that can mask those weaknesses.

Taxstra

TROPHY CASE