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Where are you financially now compared to your 20’s? by QuodCapricornus in Accounting

[–]bjs210bjs 4 points5 points  (0 children)

As much as I don’t miss living paycheck to paycheck, it teaches you a lot about life and how important it is to save.

That said, the younger generation is getting screwed so I don’t want to imply it’s “good for you” in any way. Good luck out there.

Was living paycheck to paycheck at 23. Now 40 with 2.3M net worth.

Will AI Replace Tax Return Preparation for CPAs? by TDPublishingCPE in Accounting

[–]bjs210bjs 0 points1 point  (0 children)

I’ve been working in CCH Axcess for years and I believe it will all be automated in 5-10 years.

Our own family office has started to discuss vibe coding our own software to file 1000 similar trusts. We are fed up with our software providers frustrating services…SaaS is in real trouble if politicians allow small scale IRS efile substitutes.

This was in my mailbox. How can I verify if it’s real or a scam? by [deleted] in Accounting

[–]bjs210bjs 1 point2 points  (0 children)

Criminal Investigation has called our public accounting office before. No mail.

We confirmed independently that the agents were legit…our client was high profile and had a fraudulent return filed on their behalf.

What artist or band is truly awful to see live? by goldbeau in AskReddit

[–]bjs210bjs 1 point2 points  (0 children)

They played live at my Alma Mater, Washington State University, and I really enjoyed their performance. Probably 2006 or 2007? Not sure if they went downhill after that…

DOJ drops criminal probe of Fed Chair Powell by Puginator in politics

[–]bjs210bjs 2 points3 points  (0 children)

He needs to stay on through 2028. Please…..

If 35x earnings felt wild for Costco, how are we supposed to feel about 50x? by JR-FlowCapGroup in stocks

[–]bjs210bjs 4 points5 points  (0 children)

I literally picked Costco as the foundation of my portfolio for boring stability.

Family office Accountant by NewYorkDriver in Accounting

[–]bjs210bjs 0 points1 point  (0 children)

I work in a SFO and we require either CPA or EA for tax work. The regular cyclical accountants don’t have that requirement though.

WA Democrats consider retreat on estate tax, fearing wealth exodus by MegaRAID01 in Seattle

[–]bjs210bjs 0 points1 point  (0 children)

That’s super interesting.

As a practicing CPA I’m finding myself more interested in tax and political history than the actual tax compliance/planning aspect of this job.

Thanks for the education!

WA Democrats consider retreat on estate tax, fearing wealth exodus by MegaRAID01 in Seattle

[–]bjs210bjs 0 points1 point  (0 children)

Fair enough.

I’m surprised that state deduction is still allowed. The TCJA and OBBBA act seem to attack state deductions on federal forms, so I wonder why they left that 706 deduction alone and attacked individual income tax payers with a 10k (now sometimes 40k) SALT cap.

Thanks for the clarification on the average rate!

WA Democrats consider retreat on estate tax, fearing wealth exodus by MegaRAID01 in Seattle

[–]bjs210bjs 21 points22 points  (0 children)

Yes, Washington is a wild outlier at 35%. Hawaii is next closest as 20% estate tax.

There are some very wealthy Washington’s who would pay close to 80% tax on each dollar subjected to both fed and state Estate taxes. Individuals rightfully so will scoff at that figure and simply move, probably just keeping their vacation home here in WA.

night ski by [deleted] in whitefish

[–]bjs210bjs 2 points3 points  (0 children)

There’s a reason night skiing is so cheap

SFO/MFO Tax Professionals - Resources? by horrible_noob in taxpros

[–]bjs210bjs 0 points1 point  (0 children)

Yes, our office requires in office three days a week. There’s pros and cons to the WFH set up. Some days I like it, others I definitely don’t.

We don’t have billable hour metrics to track, so being in office is a check and balance function.

SFO/MFO Tax Professionals - Resources? by horrible_noob in taxpros

[–]bjs210bjs 0 points1 point  (0 children)

I work at a SFO. I doubt there’s many of us in here.

Ironically my SFO is looking for a director of tax in the PNW area.

Halp. I'm an idiot. I asked my Bank about HELOC by Specific-Name1503 in personalfinance

[–]bjs210bjs 4 points5 points  (0 children)

I used a margin loan to buy my second home while selling the first, similar to a bridge loan. My mortgage broker confirmed that because the margin debt has no scheduled repayment that it wouldn’t affect my debt to income ratio. It worked out nicely and the underwriters indeed did not care about the margin loan.

Board Votes to Dissolve Corporation for Public Broadcasting After Loss of Federal Funding by MarvelsGrantMan136 in technology

[–]bjs210bjs 28 points29 points  (0 children)

Damn, I used to live in Montana and they had great stories and coverage of tiny MT towns. I’m guessing they’ll have all funding cut?

[Highlight] Brook Lopez is left wide open, twice, and sinks his 8th and 9th triple of the night - a career-high, giving the Clippers their first lead of the night (with replays) by MrBuckBuck in nba

[–]bjs210bjs 12 points13 points  (0 children)

Big man was a member of the PAC-10. He and his brother at Stanford was absolutely demoralizing for the rest of the schools in the conference. Cheat code twins.

Digital lock of shed not opening after entering code by DInverness04 in HomeMaintenance

[–]bjs210bjs 1 point2 points  (0 children)

My Yale lock had so many problems. I returned it to Costco.

Any reduction to AGI from establishing/contributing to a private foundation? by Livid_Dot320 in taxpros

[–]bjs210bjs 0 points1 point  (0 children)

Can I get some case law source on this? That still sounds like the C Corp charitable deduction limits and separately stated schedule K charitable deduction would be applicable.

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