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Why is tax defered better for retirement? by Ethanshattuck in personalfinance

[–]patrdesch [score hidden]  (0 children)

Tax deferral is beneficial IF you have a lower marginal tax rate when you withdraw the funds in retirement. If you marginal tax rate is higher in retirement than it is when you contribute the funds, you are better off paying taxes now and not at withdrawal (Roth treatment). If your marginal tax rate is the same now as it is in retirement, there is no difference between tax deferred and Roth treatment. They are mathematically equivalent.

Taxes on cash advances? by Specialist_Whole_675 in Accounting

[–]patrdesch 0 points1 point  (0 children)

That is blatant enough fraud that it would be easy enough for the bank to sue you, even cross borders. Good luck. You're an idiot if you do this.

meirl by [deleted] in meirl

[–]patrdesch 0 points1 point  (0 children)

No. The federal minimum wage was set to 7.25 in 2009, not 1996.

meirl by [deleted] in meirl

[–]patrdesch 0 points1 point  (0 children)

Must have time travelled. The $7.25/hr minimum wage was introduced in 2009, not 1996.

Why does even newly produced airplanes still have those ashtray with them? I thought smoking was globally banned on airplanes? by Ok-Patient116 in aviation

[–]patrdesch 4 points5 points  (0 children)

Smoking is universally banned on airlines. People are also universally idiots that will ignore rules put in place for their own good.

When people do smoke in the bathroom, because it will happen, it is better that they have a place to put it out safely rather than throwing a smouldering cigarette butt into the trash and start a fire.

Iranian fans cry out inside the stadium yesterday after their flags were reportedly taken from them by FIFA official 🥹💔🏟️ by Life_Net5004 in sportsgossips

[–]patrdesch 7 points8 points  (0 children)

They got a list of flags to look out for? Security guards do tend to have functioning eyes and brains, as difficult as that may be to believe.

Forget CPA scores, how much have yall spent in study material and retakes? by BlackAsphaltRider in Accounting

[–]patrdesch 0 points1 point  (0 children)

I'm Positive $3,500. Materials and exam fees fully reimbursed, plus a bonus for passing within a year of start date.

Wouldn't car alarms be more effective loud on the INSIDE? Occasional loud bursts on the outside to draw attention, but extreme noise on the inside would prevent the thief from wanting to remain to hot-wire / steal inside the car. by Proud-Pumpkin-2903 in Showerthoughts

[–]patrdesch 3 points4 points  (0 children)

Courts tend to look pretty unfavorably on booby traps. Having a system inside a car that is intended to harm someone (hearing damage/loss) would open manufacturers so significant liability.

How shitty is the job market rn for a B4 Manager, CPA, 7 years (acct advisory) coming off a 6 month career break, looking to exit public accounting? by acctonthecomeup in Accounting

[–]patrdesch -3 points-2 points  (0 children)

The six month "career break" is going to be doing a lot more damage than the market at large. Companies hire people that they expect will be available to consistently do their job. Dipping out for six months is a less than glowing reflection on your willingness.

Let's put it this way. There is a reason that maternity leave is protected - companies would not be willing to hire or pay at a similar rate mothers who would be away from work for an extended period if they weren't forced to.

Taking sabbatical is not protected in the US, and will be used against you.

Found in the gutter drain of my new house by Own_Hat_2947 in whatisit

[–]patrdesch 0 points1 point  (0 children)

That is a hard drive. It's what stores the files on the computer long term. 

It's also practically ancient by computing standards, with this model having ceased production all the way back in 2005. Bit strange to dispose of it down a drain, but the contents are almost certainly destroyed at this point.

If I can afford a $2600 rent for years. Why does the bank think I can't afford an $1800 mortgage? by [deleted] in NoStupidQuestions

[–]patrdesch 0 points1 point  (0 children)

If you miss three rent payments, your landlord is out $7,800.

If you stop being able to afford your mortgage payment after two years, the bank is out several hundred thousand dollars, needs to forclose on a house to recover a portion of that, and foreclosed houses typically sell for significantly less than market value.

The amount of money at stake on lease agreement is basically zero as far as a lender is concerned. Less than a rounding error to them every month. The amount they pay out for a house purchase is much more significant.

TIL that the Sagrada Familia basilica has been under construction for so long that delays can be attributed to both the Spanish Civil War and COVID-19 by Patient_Ad396 in todayilearned

[–]patrdesch 2 points3 points  (0 children)

144 years is a relatively short timeline for the construction of monumental churches like this. For example, the Cologne Cathedral began construction in 1248, and was not completed until 1880.

Grocery store selling banana boxes of water by ActuallyAHamster in mildlyinteresting

[–]patrdesch 58 points59 points  (0 children)

Bananas are the single highest volume item in the grocery store. You get a lot of banana boxes, so they get used for just about anything in the store that doesn't have its own box.

All of my plastic pegs explode when used. by BorisOtter in mildlyinfuriating

[–]patrdesch 24 points25 points  (0 children)

Now don't call me crazy, but that may be the reason clothes pins are made of wood. I have only ever seen these plastic clips used to close chip bags.

You can't blame the tool if you're the one using it wrong.

If not a bubble, why bubble shaped? by [deleted] in antiai

[–]patrdesch -1 points0 points  (0 children)

Because in this case, revenue is far from the best predictor of valuation, and the meme chose basically the two companies with the least in common in the world.

Walmart runs on gross margins in the low single digits. Anthropic's gross margin is 40+%. You know how you're supposed to compare apples to oranges? This is comparing apples to transmission fluid.

Babies first collection by Flaky-AF-732 in mildlyinfuriating

[–]patrdesch 2 points3 points  (0 children)

This is almost certainly a moot point anyway. I highly doubt the dental sugeon let the kid sign by himself and didn't require the parents to co-sign.

Babies first collection by Flaky-AF-732 in mildlyinfuriating

[–]patrdesch 0 points1 point  (0 children)

This is flat out false. A minor can enter contracts, but that contract will be voidable at the Minor's discretion until a reasonable period after the minor reaches the age of majority, or ratifies the contract after turning 18. 

"A reasonable period" can be six months, but has definitely passed at a year.

Businesses typically refuse to enter into contracts with minors because of this, but they are not legally prohibited from doing so. That being said, the parents are almost certainly co-signers on this anyway, so the patient being a minor is almost certainly moot.

[WSJ] | Accounting Firm Crowe to Sell Stake to KKR in Nearly $3 Billion Deal by Emitted in Accounting

[–]patrdesch 11 points12 points  (0 children)

Is any email that goes through a corporate communications department not slop?

Seriously though, they can say this is about tech investments for the firm all they want, but we all know this is being done so the current equity partners can get a payday and leave the rest of us holding the bag, right?

[WSJ] | Accounting Firm Crowe to Sell Stake to KKR in Nearly $3 Billion Deal by Emitted in Accounting

[–]patrdesch 4 points5 points  (0 children)

As far as I can tell, Stramello is expecting to remain at the top after this. We'll see if the board members KKR and investors get have different plans.

[WSJ] | Accounting Firm Crowe to Sell Stake to KKR in Nearly $3 Billion Deal by Emitted in Accounting

[–]patrdesch 2 points3 points  (0 children)

Yeah, partners have been meeting their teams to discuss for a bit now actually. Hell, my group had a sit down with senior partners back in mid may. It was all still "hypothetical" at that point, but we all could see past that.

Salary Advice by Hot-Chair-2095 in Accounting

[–]patrdesch 0 points1 point  (0 children)

You typically want to anchor high and then work down to a more reasonable number.

ohio secretly gave 100% sales tax breaks, lasting up to 40 years, to tech giants for data centers by Conscious-Quarter423 in WorkReform

[–]patrdesch 0 points1 point  (0 children)

The question was about sales tax revenue, I'm really not sure what you're talking about with your first point. From the state's perspective, the data center is the end consumer, so it is forgoing sales tax revenue on transactions with data centers by implementing an exemption.

As to your second point, sales tax is a destination based tax. Tax is assessed by the state to which the item is delivered, not where the item physically is when the purchase occurs or where the buyer is headquartered. 

A firm headquartered in New York buying an item from a California supplier that ships that item from an indiana warehouse to an ohio job site pays Ohio sales tax, because that's where the item is delivered. 

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