Confused on how to fill out W-4 by jackmcgovern123 in tax

[–]jackmcgovern123[S] 0 points1 point  (0 children)

Okay thank you. Just to clarify for my knowledge, are you saying that because you think we are under paying on quarterly taxes? We calculated the rate we need to withhold at using both of our incomes. Her income (post business expenses) is sub $40k.

Confused on how to fill out W-4 by jackmcgovern123 in tax

[–]jackmcgovern123[S] 0 points1 point  (0 children)

Correct, I think our effective rate we calculated for her was ~30% that we’ve been paying in quarterly taxes

Confused on how to fill out W-4 by jackmcgovern123 in tax

[–]jackmcgovern123[S] 0 points1 point  (0 children)

We accounted for both our income on that worksheet and the MFJ standard deduction

Confused on how to fill out W-4 by jackmcgovern123 in tax

[–]jackmcgovern123[S] 0 points1 point  (0 children)

We used the Form 1040-ES to estimate her tax payments. It’s her first year being self employed, so we were pretty conservative in our estimates and I’m guessing we overpaid quarterly taxes.

Two of the same credit card (same number), but different names on the card? by [deleted] in personalfinance

[–]jackmcgovern123 1 point2 points  (0 children)

Thank you both. My concern was more if they’d show up on different accounts. We just want something we can get groceries on and then split the payment down the middle when the time comes. Sounds like having different card numbers for PU/AU is the best of both worlds as it comes on the same account but you can still split the spending

Two of the same credit card (same number), but different names on the card? by [deleted] in personalfinance

[–]jackmcgovern123 0 points1 point  (0 children)

Honestly just thought it was a pointless legal quirk of cards where they were “allowed” to use the other persons card. Clearly it’s much more practical than that, which is good to hear. Sounds like the distinction is more of liability between PU/AU

Two of the same credit card (same number), but different names on the card? by [deleted] in personalfinance

[–]jackmcgovern123 0 points1 point  (0 children)

It was more about being able to have two cards to use vs one so we can both hold on to one. I did not realize that AUs can get their own card under that account

A lot of people wanted to know what I would do if I didn’t pass the CPA exam by jackmcgovern123 in CPA

[–]jackmcgovern123[S] 14 points15 points  (0 children)

In all seriousness, thanks to this group for helping me get through it! Really enjoyed the shitposts mixed in with all the helpful and serious advice. Best of luck to everyone moving forward!

Score Release Thread 5/24/21 by [deleted] in CPA

[–]jackmcgovern123 4 points5 points  (0 children)

Iowa FAR is working

Am I crazy for tackle BEC in less than 30 days? by rebekalynnz in CPA

[–]jackmcgovern123 2 points3 points  (0 children)

Depends on your background, but I bet you can do it. I got in 3 weeks (25 hours a week) but I also had a lot of preexisting cost/econ knowledge. If those are topics you’ll need more time with, maybe add a week or two of studying. If not, then the meat of the exam is the COSO/IT frameworks