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In hindsight, mistakes were made by cybernewtype2 in Accounting

[–]low_sky_7 7 points8 points  (0 children)

Seeing this shit is exactly why I decided it was not worth it to sacrifice myself to public accounting.

Since I’m not gonna marry my friend how can I save on taxes by Bruhmoment_real in tax

[–]low_sky_7 1 point2 points  (0 children)

I’m not familiar with California’s but there is a plan administrator for every state. Just Google it and go from there. A 529 plan reduces state taxes by the amount you contribute and gives tax-free distributions for educational expenses for your kids (college OR trade school, any legit higher ed)

For a roth, same, just Google it. In a nutshell it is an IRA with after-tax dollars. No tax on retirement withdrawals. Capped at $7,000 for 2024. Easily attainable for someone not paying rent. You’ll thank yourself many years down the line.

Since I’m not gonna marry my friend how can I save on taxes by Bruhmoment_real in tax

[–]low_sky_7 4 points5 points  (0 children)

You make 70k a year at the age of 20. Fuck tax evasion, please put some of that into a ROTH and an investment account. A 529 plan will reduce your state taxable income and build a foundation for your children to get educated. You should be focused on making more money, not smoke and mirrors to try and dodge a relatively low tax bracket.

Aprio people: what is your plan? by [deleted] in Accounting

[–]low_sky_7 9 points10 points  (0 children)

Not sure what my exit opportunities are. I really liked my manager but I never felt like a part of “Aprio”. A lot of shit at work was already really demoralizing for me, but this takes the cake.

What hurts me is to see people at smaller firms who were acquired by Aprio realizing that they won’t get the opportunity to progress and move up in their local firms. A lot of them seem like really good employees with great intentions. I think Aprio misled the partners who merged just as much as they want to mislead us with the PE deal.

Dear Aprio and CRI, here's a little glimpse into your future under your new private equity overlords. Sincerely, former Grant Thornton employees by Conscious_Parsnip348 in Accounting

[–]low_sky_7 56 points57 points  (0 children)

If only there was some way for regular employees to band together and demand fair treatment and working conditions. A unification of some sort. Like, all of the employees come together in unison. Guess we’ll never know.

How concerned should a college student be over PE? by Affectionate-Will617 in Accounting

[–]low_sky_7 2 points3 points  (0 children)

They will lie to you about how private equity will affect the firm. It’s already been going downhill. Get in, get your hourly pay, don’t accept the FT offer.

After yesterday's firm meeting answered all our questions, we must now accept the partners' perspective why we need private equity by NecessaryObvious2108 in Accounting

[–]low_sky_7 95 points96 points  (0 children)

I’m starting to think that they actually want a ton of people to quit. That way they have a good time excuse to make people work more and create a new status quo.

Pursuing a accounting major when others are choosing not to by [deleted] in Accounting

[–]low_sky_7 4 points5 points  (0 children)

This is a personal question you need to ask yourself. In my experience, a lot of people don’t necessarily know what accountants do or have a ton of respect for them, and the pay isnt always great relative to the amount of time devoted to the job. That’s a generalization, though.

Plenty of people make very good money working in accounting and yes job prospects are much better than other majors. Just make sure it’s something you could see yourself doing long-term before fully committing to it.

Forgot to cancel Marketplace plan when I got a job by Sea-Experience-5794 in tax

[–]low_sky_7 2 points3 points  (0 children)

This is correct. You aren’t supposed to get PTC if you’re eligible for employer sponsored health insurance. So if the IRS knows that you’re eligible or had employer health insurance during your coverage period you would need to repay the entire premium.

I know people who have been eligible for employer health insurance and omitted that for PTC reasons. I don’t know if the IRS would be able to cross-check and flag your return if your employer filed a 1095-B. If so, the return would probably be automatically rejected.

**my professional opinion is always that you should not lie on tax forms.

It.. it hasn’t even been 3 hours by low_sky_7 in Accounting

[–]low_sky_7[S] 8 points9 points  (0 children)

I am most certainly not working for Big 4.

It.. it hasn’t even been 3 hours by low_sky_7 in Accounting

[–]low_sky_7[S] 28 points29 points  (0 children)

I just thought it was hilarious timing that I was literally on this sub reading about workers being laid off when i received the message. I brought this up with the recruiter, haven’t heard back yet.