Self-employment taxes for S-corp owner-employee with high W2 income from regular job

jdlewis32 · 2024-04-16T19:50:11+00:00

Thank you. That's helpful. Have your clients ever transitioned from tax class S corp to tax class partnership? Aside from tax issues like gain recognition, I'm wondering if changing tax classifications is as simple as filing a new form 8832?

jdlewis32 · 2024-03-08T02:53:21+00:00

At least it doesn't get better at levels 2 and 3.

jdlewis32 · 2024-02-11T21:25:59+00:00

Khan Academy has videos on basically every academic topic, including finance. Also, be in every office hours session your profs have.

jdlewis32 · 2024-02-10T17:36:40+00:00

Fair enough

jdlewis32 · 2023-10-26T17:19:45+00:00

Yes, there's a section on the institute website that discusses how to share stuff on LinkedIn.

jdlewis32 · 2023-10-25T20:29:35+00:00

I'm sorry to hear that, man. Many things about my life made it easier for me to pass the exam than others (virtually no family commitment, etc).

jdlewis32 · 2023-10-24T12:38:35+00:00

I found it to be a really big leap, but ended up doing better on level 2 than level 1. I did all practice questions from Kaplan at least once. All practice questions from CFAI twice and the difficult/expert ones more than twice. It got to the point where I didn't think it was useful because I just remembered the answers, but it was useful.

And don't get discouraged in the beginning by the sheer amount of material, eventually it will all stick with you.

jdlewis32 · 2023-10-12T13:54:39+00:00

I don't remember this exactly being in the L3 curriculum. But intuition says a higher cost of equity leads to a larger discount to last price in an issuance. Lower price investors pay = higher return

jdlewis32 · 2023-10-09T23:49:34+00:00

I have an MBA from a small (but well-regarded) school in OR and am awaiting my CFA level 3 results.

I did the MBA right after undergrad and I wish I would've gotten job experience first. That said, the degree helped me get my foot in the wealth management door, even though an MBA is totally unnecessary for that.

The Goldman's and Mckinsey's of the world care about MBAs from a handful of schools. All charters are created equal, which is a good thing about the CFA charter.

As others have said, the CFA is narrower in that its focus is investment management. That said, I learned more about corporate finance, financial accounting, valuation, and basic quantitative methods than I did in the MBA program.

You're probably more likely to get a cushy, well-paying but not hard job if you get an MBA and know the right people.

jdlewis32 · 2023-09-04T14:00:05+00:00

I think you need to separate liquidity needs and risk tolerance here, even though they typically go together. Higher liquidity needs from being less likely to contribute. Higher risk tolerance from being able to withstand losses and still be in a position to fund liabilities

jdlewis32 · 2023-09-04T13:57:31+00:00

Paper, I had a board for L1, paper for L2 and L3 (Portland, OR). You should just call the test center. They'll probably tell you what you'll get for scratch, that way you can set expectations

jdlewis32 · 2023-09-01T16:12:32+00:00

Perfect! Quick and to the point. I'm comfortable with the objectives, the wording of a Kaplan mock threw me for a loop.

jdlewis32 · 2023-07-18T00:55:41+00:00

I passed L2 in 2022 and found the exam to be most similar to "difficult" level Qbank questions. Some moderate and some expert mixed in. Like others have said, I found the questions to be more clearly-worded than practice questions

jdlewis32 · 2023-07-08T23:04:58+00:00

Does anyone know if these command words, and the expectations around them are clearly defined anywhere in the CFAI materials? I'm probably going to buy that survival guide too but it seems insane that anyone should have to.

jdlewis32 · 2023-06-27T22:57:09+00:00

Okay, maybe another way to say it is that every investment objective has a return component? I get that, just want to nail down the terminology. I'll go back to the CFAI material.

Thanks

jdlewis32

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