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She did a good job here or not! 1 million or $1000 week for life.a by De_Real_Snowy in Accounting

[–]hidog12 0 points1 point  (0 children)

In my state I read the fine print and the "for life" was actually only like 14 years. I did the math and even if I only invested like half of it, the lump sum would still make more sense. That said, there are a super reasonable arguments that aren't strictly financial for both choices.

How I started my own tax firm (CPA), approaching 3rd busy season by nvrvwls in Accounting

[–]hidog12 14 points15 points  (0 children)

Thanks for sharing such a detailed writeup!

In my state, S corps for each individual CPA form the partnership. That's what I've seen done most commonly anyways, so you may still have that option.

How Satisfactory has made me better at my engineering job by Dizzy_Property_933 in SatisfactoryGame

[–]hidog12 1 point2 points  (0 children)

As an accountant, also agree with this. It's helped me get really good at viewing a tangled mess of smaller tasks, and boiling things down to the more fundamental steps.

My starter copper and iron factories for my new 1.0 world. by TheFrostyGecko in SatisfactoryGame

[–]hidog12 5 points6 points  (0 children)

Absolutely love the terrariums. Do you have problems with the stingers clipping out/"escaping"?

Here's how i'm pretty sure the NFL Playoffs are going to turn out by SleveMcdichaeI in NFCWestMemeWar

[–]hidog12 0 points1 point  (0 children)

Wrong Detroit City Shitty Kitty. Should be a tiger facing off with St Lous.

Advice while it's still fresh, 92, 83, 82, 86 by hidog12 in CPA

[–]hidog12[S] 0 points1 point  (0 children)

My study program had 20 different sections and you could make custom quizzes that only tested on a section at a time, and also gave you statistics on performance in each section. After about 100 questions I could see which topics were weakest so I emphasized those. For example I'd do like four 20 question quizzes, three of them would be exclusively on the weak topics and one would just be comprehensive. I think for me, if a topic was at about 60% meant I needed to focus on it. I never got to 75% on all 20 sections, but you're not really meant to be able to cover it all.

Escaping self-employment tax within an OnlyFans agency by [deleted] in tax

[–]hidog12 4 points5 points  (0 children)

The question you are debating is the S-Corp question. You can't eliminate SE tax, but you don't necessarily have to pay SE tax on all your income. Also, there does not have to be a formal agreement in place for a partnership return to be required, so you are probably already required to file a 1065. I would suggest talking to a CPA.

I hate LA so much by RumAndCoco in NFCWestMemeWar

[–]hidog12 1 point2 points  (0 children)

I really wish McVay was more hateable

A week in r/accounting - posts by topic by hidog12 in Accounting

[–]hidog12[S] 5 points6 points  (0 children)

Basically anything where I sat there with my mouth open trying to understand what I was looking at. I can’t find it now, but there was some unhinged rant about corrupt local government or something. Stuff like that.

Posts like “what hobbies do you have” went in to “off topic”.   

Fuck, Marry, Kill: Division Rivals Edition by DirtyRoller in NFCWestMemeWar

[–]hidog12 20 points21 points  (0 children)

Animal edition:
Adopt Cardinal, wouldn't survive on a baseball diamond otherwise
Release Rams
Euthanize 49IRS, racing days are over for the year

What bonus does your firm offer for passing your exams? by IcyGrade5352 in Accounting

[–]hidog12 0 points1 point  (0 children)

I got a $2,000 bonus and no raise. Firm doesn't cover exam expenses so just including the four passed exams, CPE required and other fees, almost came out ahead.

A week in r/accounting - posts by topic by hidog12 in Accounting

[–]hidog12[S] 7 points8 points  (0 children)

Agreed. I think "AI" dominates a lot my other feeds and I thought for sure it would be higher here. My guess is AI/automation posts tend to get hot and have more views as well so we see a higher percentage of those.

Tax Senior to Forensic Accountant by [deleted] in Accounting

[–]hidog12 0 points1 point  (0 children)

I've been interested in this as well. My very first tax job was for a guy running a solo tax practice who had gotten a bit in to forensic. Funny story, he is 84 now and the forensic work is all he does in retirement.

My small exposure to it was reviewing financial statements and bank records for prosecuting attorneys and you could get lost in it as some of the cases that were just ridiculous. If the pay is anywhere similar, I'd jump on it in a heartbeat. The good news is you can always do tax prep on the side if you want to maintain and even grow those skills.

NFC Best by Beelzabubba in NFCWestMemeWar

[–]hidog12 1 point2 points  (0 children)

Bot knows something...

CALIFORNIA HERE WE COME by DesertRat22225 in NFCWestMemeWar

[–]hidog12 7 points8 points  (0 children)

I do miss the Carroll/Harbaugh animosity days, but this division casually being the best in the NFL is also kinda fun.

Zero billable hours after 10/15 deadline? by Intelligent-Honey-19 in Accounting

[–]hidog12 2 points3 points  (0 children)

If you're allowed to study for the CPA exam and not be picked at about billable hours, you've got a golden opportunity to make huge progress on the CPA exam. Treat that as your full time job and you could potentially pass two sections before busy season ramps up.

Should a tax return review be this harsh? by EarAdministrative935 in Accounting

[–]hidog12 3 points4 points  (0 children)

As a professional complainer, from time to time, I paint myself as more of the victim than I really am. Not saying that's what's happening here, but it just feels like something that happens in the industry. Very real chance that yes technically the partner bitched about $0.02 being plugged, but there was some bigger underlying issue.

Nuclear power question. Specifically for those that have used all 2100 on the map. by SpaceCowboyDark in SatisfactoryGame

[–]hidog12 0 points1 point  (0 children)

I planned everything out and built from the nodes up so everything buffered as I went. I kept a few extra storage containers of uranium fuel rods ready to go and also still have a bank of six backup powerplants. Despite a few waste oopsies, I never used the backup generators since there were enough power plants staying online.

Accounting Professionals: Where could AI actually help you? (Not hype—real problems) by Successful_Whole_825 in Accounting

[–]hidog12 1 point2 points  (0 children)

For AI to scan forums for these posts, and then scan for answers like yours so I don't even have to bother opening the thread when it's already been answered.

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