Can someone smarter than me explain the mechanics of the child tax credit in the America Rescue Plan? If I qualify for monthly installments of the credit but fill out my W4 so my withholding is as close as possible to my tax liability, shouldn’t the credit installments effectively be offset by an increase in fed withholding so that my take home pay is the same as if I claimed the credit on an annual return? I know there is an increase in the credit, but I’m focusing on logistics.

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Posting as :
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I would like to answer this, but I'm unsure as to whether I am smarter than you, overall. How can we resolve this?

likefunny

Fake it ‘til you make it?

Worked for my 8+ years in public accounting.

My understanding is that the installments help people get the money as soon as possible versus waiting all the way until next year, especially since a lot of people are struggling financially now.

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The credit is now fully refundable so even those people with $0 tax liability will receive it. Those people don’t have the ability to lower withholding and get the credit via normal paychecks. You also forget that most of the country doesn’t understand taxes and think getting a refund is a good thing.

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Thanks for the practical example of how this approach benefits folks with no tax obligation, and that largely answered my question. The open item is if I’m thinking about it correctly for my specific situation.

Agreed that people think getting a big refund is how to do it. When asking the question I knew that I’m in the minority of updating withholding throughout the year, hence the reason for the specific wording of the question.

It also sounds like there are some new consulting gigs out there with the IRS. Maybe we can team up War Dogs style

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Hi I am a female USDC SS level employee and would be on bench starting from mid September. I have received a generic email from RM stating that work from home is not allowed when on bench and have to come to office from 9am to 5pm. I am a mother of 11 months old and my family already had Covid few months back. Since my kid is very small i am not comfortable sending him to day care. Can anyone suggest how to get approval for work from home during my bench time. I am very much tensed

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What do parents do if their child is choiced and don't want their child to go to school? Will they lose choice? We haven't heard what's going on in this part.

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Has anyone raised their rate in the last couple years? I feel like I’m maybe at the maxed out point. But healthcare and rent keep going up. (I’m in NY).

a very specific question to all Canadians.

Current situation , i need to refund signing bonus which was paid along with 3 days of work at the company, taxes are withheld obviously
When you refund a signing bonus do you
1- refund ALL of it even taxes Withheld ?
2- refund only the amount that was deposited in your account
3- mix between 1 and 2 refund more than was deposited but less than the whole amount ( taxes should be refunded to me next year)

My contract says 2 and they want to do 3 Help

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Here’s how to withdraw your funds from FTX

Hedge Withdrawals

Open a position on FTX and an opposing position on another exchange (perhaps Binance for the irony) for the same financial exposure. If the position on FTX profits, keep trading. As the position on FTX experiences losses, the opposing position on the other exchange profits. Keep it up until you’ve depleted the funds on account at FTX the close your opposing position. You’ve successfully withdrawn funds using a hedge. You’re welcome.

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those u r staying in hometown with parents and single in there early 20s...

how you guys manged staying in home this long..around 2+ year..

sometimes I had some arguments with father and feelings like need to go office locations.. don't want to stay here..
like whenever something happens the next thought is next day go to pune...

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Need some advice bc my work and personal life intertwine. Too much sometimes. Father is my boss. Wife is adamant that when folks come over they take off their shoes. Tried to ask my family...cont

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Does anyone in here participate in a 529 for their kids? Is it true that you can deduct contributions from your state tax? If so? Is it 1:1? Trying to decide how much to contribute for maximum tax benefits. TIA!

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I don’t have Wi-Fi on my name it’s on my husband name .. he works in different form .Can I reimburse my wife bills ??

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My mother isn’t the smartest cookie and let’s people take advantage of her—to the detriment of her health. It’s absolutely infuriating and she refuses to acknowledge the problem. anyone dealing with something similar ?

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Getting in my 8th month and starting to feel sore in my groin area. I read it’s because the baby is adding pressure down there. Do you know if it’s bad to do inner thigh exercises? I do easy floor exercises to stay fit/healthy during Covid, but the soreness (feels like slight muscle pain but it’s not) is making me wonder if I should stop.

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So I (m29) have money invested in my brokerage account and been paying taxes on any realized gains or dividends. People tell me I should be in a Roth but I want to retire early and use my brokerage as a passive dividend…. Am I doing things correct or am I missing something?

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Always been a fan of FIRE and reading about it has definitely helped my finances but I can’t help but wonder if the movement is more about lifestyle change than early retirement.

After you achieve FI,you basically have to maintain the lifestyle that got you there.

What if you want to go on a lavish vacation or buy that flatscreen TV? Are you supposed to do away with material goods entirely? I suppose you could keep working for discretionary $ and live off interest but then you’re not retired.

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Went on a first date, thought it was like a 6-7 out of 10 connection and with some red flags, but then she was so honest and cute the way we said bye that my heart melted into a puddle. Now I can't get her out of my head and am like a little kid excited for Disneyland anticipating date two. I'm in trouble 😅

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What issues will shape the landscape of insurance over the next 10 years?

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Coworker said they used to eat powder laundry detergent as a kid 😬

likefunnysmarthelpful

I had a miscarriage and I am scared to get pregnant.

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My normally super regular period is now five days late (not pregnant)... Is this perimenopause? 😭 I’m only 44 and so not ready for this.

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My husband yells at me in front of my 2 years old, even when he is scared. He needs to express his anger out before he can shut down. I am planning to leave him but I am hesitant because I am afraid this would negatively impact my son more, not having a father figure around much.... not the first time, my husband promises multiple time that at least he would control his anger in front of kid but never Lee up the promise...sometimes he would even throw stuff (not at me and my child)...

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FREE webinar coming soon!! All about staying positive and the importance of mental during this time. Interested? Let me know and I’ll post the link!

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Providence Health & Services Anyone looking to exit to industry? I’m a former Big 4 revenue cycle consultant now leading the net revenue valuation and analytics at a large West health system with two current openings. One is in the data shop (SQL, cloud migration, Clarity) and the other is on the analyst side (budget/forecast, variance/trend analysis). Offshore team for the grunt work allows us to focus on value-add, including collaboration with our data scientists on integrating machine learning into our processes. Providence Health & Services

likefunny

Lunch discussion at the office, curious to hear your thoughts: Does one need to learn data science first to be a good data engineer / architect? Why / why not?

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For more senior MBB folk (SM/EM/PL+) who exit to (non-technical) FAANG roles, do you need to be in the tech practice or does it not matter?

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Do you guys think ageism is a thing in tech field. After certain age, people begin to value you less despite years of experience?

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This has been my hardest year yet. Morale is rock bottom throughout. I am feeling the burn out coming fast. Any suggestions for getting a new attitude or outlook to want to come back next year?

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I’m getting ready to start my FT position as a HUC (Health Unit Coordinator) in Labor and Delivery. I know it will be a while before I do anything of the sort, or IF I do anything of the sort. But I wondered if there were any other HUCs on here who crosstrained? (Wether as a PCT Patient Care Tech, Medical Records, or Telemetry?) was it worth it?

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Hey recruiters why don't you look at portfolio's before blowing smoke up my ass? Truly I want to know.

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Hi Ladies,

I was impacted by the COVID-19 layoffs a few weeks ago and let go from my job at Deloitte. I have 2 years experience as an IT Auditor with the big 4 and I am in search of a new job. I’m currently residing in Atlanta

Any recommendations on where to apply would be greatly appreciated.

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Autistic fish: How do you tell people you're autistic w/o saying it outright? If you could ask for help/support to grow at work, soft skills in particular, what would you ask for?

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Hi fishes,
Could someone explain me what does this career level AM means in Consultant designation.
Thanks. Deloitte India

Post Photo
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We actively hire global mobility tax, state and local tax, tax reporting advisory, and audit various sr and higher positions across the US at a top 6 public accounting firm. DM please

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My husband, who had a successful career but is not yet 40, wants to retire and look after our kids while actively investing our money. I enjoy consulting and will gladly keep working. We also have a good amount of savings, mostly fueled by our frugality during his peak earning years. I feel like I need to support my husband’s dreams while negotiating clear terms. Has anybody been down a similar path and have advice?

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Guys! How many days it will take for EY to release the offer letter. I have submitted all the requested document after my HR discussion today.

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How is the bench like in S&O? Is it across the board or only in certain subgroups?

Last year I heard Working Capital was doing very well. Any insights are welcome.

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My cousin was supposed to join tcs last week, as he got the email confirmation with DOJ from recruiter(same is updated in ibegin portal). She has not rec any onboarding invite in Callender though.
However, she couldnt join and not yet sure of the reason.
Ibegin portal still says the same DOJ but BGC status is showing as scheduled. HR's not yet responded with the actual reason and not sure on next steps as well.
Any idea what could be the reason? Will they extend the DOJ or Cancel that offer?

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Any hype around AC Valhalla or is it overshadowed by cyberpunk and the new Black Ops?

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Any tips for Belize?

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Additional Posts in Accounting

Work Stations? How 'bout nap stations? 😴

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Anyone else getting sick of this ayn rand dystopian hell we’re living in?

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Looking for a new office chair at home. Any suggestions?

Two key qualities: comfortable and adjustable

Price is very flexible. Much rather pay more for a nicer chair than get a deal.

Thanks!

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Didn’t work at all this weekend. Bad idea. Currently feeling the overwhelming weight of compliance season…

Never justifying not working weekends because “I deserve it” ever again.💀

likefunny

Does anyone here use Avalara or Vertex? Interested in hearing any likes/dislikes and how the user experience is.

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How do you negotiate an offer? What’s your process?

likehelpful

How would you improve K-12 education?

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PWC Audit A3 to Senior Consultant, Risk Advisory at a very small firm? Thoughts

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Considering to join PWC. What are some benefits that PWC offer? (e.g. paid time off for senior, insurance, and so on)

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So "J" in US is like blow in UK. Comprende?👍🏼 gimme five if u get it....(high n low)

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As a senior, I am dealing with trying to get answers from management but those above me want to be the filter and asker of all questions with the client. That is fine, each team has a preference.

But the questions do not seem to get asked or when they do the answer isn't right. How do others deal with this issue?

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Question is the accounting n consulting fishbowl app the same

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What is the best tool I can use to convert pdf to excel? My client keeps sending me pdf file and ignores my request for excel... ugh

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I have to travel to my client every week and the client’s office is attached to a very nice hotel that’s $250 per night. There’s a hotel right across the street that’s $150 per night.. it’s alright, but not as great. Should I be mindful about how much I’m spending or should I blow up the budget until someone says something?

likefunnysmart

Shoutout to all the newly promoted Partners, Managers and Seniors. Hard work pays off, if you are determined and willing to focus on your career goals.

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Real question: with all the scared people(myself included) in audit and tax with layoffs is advisory the only industry safe? Maybe specifically technology advisory as tech seems to not be slowing down

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How much do you earn and how much are you able to save each month / year ?

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How does everyone balance work and spending time with your SO/dating?

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When you left one Big4 and went to another, did your firm let you work your 2 weeks or make you leave immediately? I’m Tax staff at EY and I’m considering leaving soon; trying to plan accordingly

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Has anyone gone from public accounting to FBI? Curious about how the transition has been, looks interesting.

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