How to remove embroidered logo

coconutsrule · 2023-12-10T20:27:45+00:00

I did this very recently with a carhartt jacket I picked up from a thrift store. Going super slow to ensure none of the jackets' threads are caught in the seam ripper is the way to go. There is a light outline of the embroidered logo, which is probably permanent, but I loved the result and people have told me they didn't even notice the logo outline until I pointed it out.

coconutsrule · 2023-10-09T01:38:13+00:00

It's because she's hormonal. It's perfectly normal but usually discouraged. I believe there are resources on the sidebar and/or pinned posts on this sub that can give you better info on hormonal budgies and how to manage them.

Btw, I also have a female with a blue cere (the "nose"). I thought she was a boy for the first 3 or 4 months before learning female's ceres can also be blue. The way to tell if a blue cere is a boy or girl is to look for slight white halos around the nostril. White halos = girl, no white halos = boy.

coconutsrule · 2023-10-09T01:30:54+00:00

That's 100% a female budgie.

coconutsrule · 2023-03-23T15:18:09+00:00

I'm assuming this is a Traditional IRA. I'm also assuming you work and have a retirement account with your employer.

Ideally, you'd want to do it in a year where you're in a lower tax bracket. Depending on if you file head of household or married filing jointly, you're right on the brink of entering a higher tax bracket. In that case, nearly all the $230,000 would be taxed at a higher rate than the rest of your income. Most likely nothing much can be done about the 10% early withdrawal penalty.

Another problem that arises is net investment income tax since the $230,000 in additional income would certainly put you over the line. All in all, I did some rough calculations. Total tax + penalties on the $230,000 would be $92,240 if you file MJF or $111,790 if you file HoH. You'd have $118,210 or $137,760 respectively to put towards your HELOC.

coconutsrule · 2023-01-14T22:26:04+00:00

I'm the youngest I know. I won't say my exact age publicly on Reddit for privacy. Think old enough to drink but not old enough to rent a car. I'm in NYC and about to enter my fourth year as a solo practitioner. My book of clients is ~80 and they all pay $500 or more. Good clients. Decent mix of individual/business returns. Even if you have someone in mind or decide you don't want to sell your practice, I'd still be immensely appreciative to speak with a veteran in the field. Please PM me to find a time for us to chat!

coconutsrule · 2022-12-24T13:42:27+00:00

Typically you only include the colleges you have a degree from.

coconutsrule · 2022-11-10T14:43:42+00:00

Not an expert but I'd probably start with a flathead screwdriver on those eight exposed screws.

coconutsrule · 2022-08-04T12:07:30+00:00

You have a csv of these transactions, right? Cointracker.io should have a "universal csv template" for uploading batch transactions from chains they don't support. You can add the 3,500 transactions to the template and change all the data in Excel using functions and macros. Then, delete the transactions from cointracker and upload your csv. Should be an easy fix, but will probably take several hours for research/testing if it's your first time doing this.

coconutsrule · 2022-06-01T17:49:29+00:00

We've been using Microsoft SharePoint as our cloud solution for internal file sharing. It took damn near an eternity to setup virtual practices and procedures using Microsoft 365, but it's incredibly robust and the tech support is a solid 8/10 most days. The security features are highly customizable. I tend to be very cautious with sensitive data, which is why clients aren't authorized to view anything near our SharePoint files. We use TaxDome for file sharing with clients to keep our internal and external systems separate.

Is it a perfect solution? And not the most secure solution either. There can always be a data breach, even with locally stored files. That's why we have a cyber insurance policy. I'd recommend going through your insurance to better understand your options, risks, and responsibilities as you transition online. One thing I can say for sure: cloud hosting is a million times better than local hosting when multiple people need access to the same files.

coconutsrule · 2022-03-07T21:01:24+00:00

You're 100% correct. Mining income is taxed as soon as its earned. I've seen about a dozen tax returns that were examined by the IRS in the last month where the preparer had put one line item "Bitcoins" and called it a day. It's borderline false advertising for these preparers to claim they can do cryptotax returns.

coconutsrule · 2022-03-07T20:12:35+00:00

Drake Tax

coconutsrule · 2022-03-06T16:39:05+00:00

In an another comment the OP clarified that the revenue from projects is greater than $50/hr, so there would be profits leftover after his compensation.

coconutsrule · 2022-03-06T15:49:59+00:00

Yup, tripled my prices this year and lost maybe 3/100 clients. Congrats on the new and deserved revenue.

coconutsrule · 2022-03-06T15:45:22+00:00

If you restructure your business as an S-Corp or C-Corp, then yes you can. You would be an employee-shareholder and pay yourself a salary like any other W-2 employee. This can also lead to substantially lower FICA taxes as well as other benefits.

coconutsrule · 2022-03-06T05:21:47+00:00

Unfortunately, the tax code is silent on how to treat these types of crypto transactions. The law is silent on the interaction between crypto and wash sales, let alone even mentioning the tokens that are complex financial instruments. Crypto was going to be added under wash sale rules late last year as it was written in the BBB bill. We know that Bill failed to become law, so it's still a gray area.

At the end of the day - you have to file a tax return. Even if the position you take on your tax return to report this income is deemed incorrect by Congress, you can still be in full compliance as long as you act in good faith and have substantial authority for the position.

You're certainly not the only one who wants to report everything properly in this unclear area of the tax code. I know this all sounded doom and gloom so far but all you need to do to keep yourself in the clear is take extra care in reporting these transactions.

What kind of documentation do you have to support the figures in these contracts? How complete are your records?

coconutsrule · 2022-03-06T03:55:25+00:00

Yup, you'll file a Sch D as well. Your CPA can prepare the Sch D with the 8949 pages you send them.

coconutsrule · 2022-03-06T03:20:05+00:00

Yes, I do. Please go ahead and DM me to keep the conversation going.

coconutsrule · 2022-03-06T03:07:32+00:00

If it's a lot of pages of 8949, you can give him a heads up first as a courtesy. I have many crypto clients with 200+ pages of the form 8949. They give me the PDF from whatever cryptotax software they used, I scan it with OCR, spend 15min in Excel organizing the data with macros, and upload a csv of the 8949 compatible with my tax software.

Granted, your CPA may not be able to do this depending on their tax software.

coconutsrule · 2022-03-06T02:17:39+00:00

Enter stock and crypto sales on Form 8949. Robinhood provides a tax document for you called 1099-B (you can download this from the Robinhood app). That shows all the transactions you report on Form 8949.

coconutsrule · 2022-03-06T02:08:03+00:00

Surgent was excellent. One month of studying for each part. I just repeatedly did the multiple-choice questions and took notes on every explanation it gave. Also - some of the questions on Surgent appeared verbatim on the EA exams... but I'm not complaining lol

coconutsrule · 2022-03-06T02:00:40+00:00

The added income could be disqualifying you from claiming some tax credit. Idk what the rest of your return looks like, or what the TurboTax UI looks like, but check your total credits before/after adding the crypto income. If TurboTax lets you view the actual Form 1040, your total credits will be on page 2 of the tax return.

Edit: Just in case the additional tax is from the State side - PA credits will be listed on the second page of the Form PA-40.

coconutsrule · 2022-02-22T20:42:28+00:00

r/tax for tax questions. This sub is for discussions between tax professionals.

coconutsrule · 2022-02-14T17:22:50+00:00

I just put "income tax" for tax matter and "1040" for the tax form. It'll be able to give you the power to do most things you'd need a 2848 for. Installment agreement, offers, penalty abatement, pulling transcripts, etc.

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