For those in a partnership or just tracking your finances separate from your business, how are you tracking your personal spending for your deductions at tax time? Every year I’m struggling pulling all my statements from all my accounts, looking for deductions. I need to do better!!!

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I have a personal CC that I used only (and always) for business expenses. I track mileage in my planner. There’s apparently a vehicle write off as well that I haven’t figured out yet 🥴

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Mileage should cover vehicle use. That’s why the mileage rate is so high.

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You should have a separate bank account and credit card for a business. This is 101. Fingers crossed the irs never decides to audit you.

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I'm not sure I understand... if the business didn't reimburse you then the business can't deduct it. Arr you looking to deduct work expenses on your personal taxes? Unless you own a business you can't deduct work expenses

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If you’re asking about charitable contributions, mortgage interest and other personal tax deductions, I track them through an app (Empower fka Personal Capital, although there are many options available) and then at tax time use that as my checklist for gathering docs for my CPA.

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Dear All,
I am seeking suggestion, Recently started fishing business.
Presently nothing is on paper and it done same as farming… catching and selling locally in market, We have also employed 26 people to work on trawler for fishing.
Is there any way to register firm to take some investments from market/banks

Anyone else seeing the run old gold and hype around it similar to the bitcoin hype at its peak?

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At what income level should one be comfortable to spend 2400/mo on rent in HCOL? Assuming single, no kids, no debt or major expenses.

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Anyone has experience in investing through Angellist?

What do I need to do regarding my Amex before leaving the firm

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Having trouble selling my (retired) dad's house. It needs a lot of work, but has great character. What if I buy it myself for a low, low price? Then I would be able to get a FHA 203k loan to do the updates. Rent it out or put it back on the market in the spring.

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Any recommendations on credit cards with lounge access? Currently have the Chase Sapphire Reserve which has Priority Pass, but have been turned away from lounges not accepting PP at peak times

Welcome to The Financial Life! I am excited to meet a variety of individuals, families and businesses to talk MOnEY! As you know, growing money is one thing but keeping it is a whole different game!

likeuplifting

I got married in 2021. Before my wedding I lived in State#1 and after the wedding I moved to State#2. My spouse lived in State#2 the entire year.
Can I file as Married Jointly in such a way that State#1 only calculates my income for the portion of the year I lived there?
Or do I need to file Married Seperately?

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Have about 5k to invest - should I do FXAIX or FSKAX?

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Genuinely curious: How do you justify working in PR knowing that you won’t make $100k+ for 15-20 years? I’m 3 years into my career and I have regrets about choosing this field when I look at my financial timeline.

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Anyone else catch Tesla today? After months of no trading and waiting for the right time I had 10 700c I bought Friday at $695 a piece and exited at 4K a piece for a profit of 33K. Time to stay composed and wait for the next high conviction setup

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Has anybody invested in Yamuna gaur city or planning to do so?

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Using Robinhood to do some day trading. Bought a share of Amazon a few months back and have almost 30% ROI. Should I sell? It seems like it is too high right now and the bottom could fall any moment.

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8k range was the long term 200 day MA support that everyone and their mother said they would be buying at. Well it’s 8900 and buy volume is basically nonexistent..

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What will be in hand for the below after-tax deduction?

Post Photo
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My dad stole my identity a couple
years back and tanked my credit score
- brought it down to like 400. I've
been working towards fixing it so that
my boyfriend and I can buy a house in
the next year or so. This morning, I
checked my score after not looking at
it for a while and I'm in the mid 600s!
Y'all don't know how happy I am
about this lol

uplifting

Hi guys,

I got my full and final settlement today but I can see no tax deduction. Does anyone know the reason. 4k tax used to be deducted every month till now. I also got gratuity and leave encashment along

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Hi, I am done with 2 rounds of interview in CGI. Waiting for second round result from past 4 days . Daily I am dropping remainders to the team. But no response. Can I consider it as negative?
CGI

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Best books to give to new young client who genuinely wants to grow and develop his interest & understanding of finance, doesn’t want to be bored, & cares about his investment accounts?

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Are we secretly being judged on how many of these admissions events we are attending / if we are participating?

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I’m dealing with a difficult management situation and don’t know what to do, how would you report someone when nobody really cares what’s going on or is automatically going to side with the other person?

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Happy new year 🎊

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So, I truly enjoy wealth management, corporate and institutional solutions and being in a managerial position with 5+ years in this field and in a true management position. I have a B.s in Business Administration and MBA in Global Business Management Currently hold Series 7, 9, 10 and 66 and I’m looking for great opportunities in the Atlanta market. All the help, referrals and guidance would be much appreciated! Was at JPMC before but had left to get managerial experience. I miss JPMC!

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Does Deloitte provide ‘reason for leaving’ during background check ? I was laid off by Deloitte US during first Covid wave. Deloitte

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New to startup ecosystem. What are some resources, books, podcasts that help you along the way? Are there any communities you interact with regularly on Reddit/discord/meetup?

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What should my comp be as a 2nd year director?

funny

I am an associate at a UMM and my employment contract has a 4 month non compete (yes, even for associates) but I am thinking of lateraling. What are the implications of breaking a non compete? I didn’t say anything when I signed because I was desperate for a PE offer but it seems so unfair as I am just a lowly associate. I am not so much worried about getting sued, but about my current employer tanking my reputation if I leave and break the non compete.

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Hi did anyone recently join Morgan Stanley . I heard that after joining we need to transfer a demat account. Can anyone help with this . I just read about this in some comments no info from hr side.

Does anyone else take a combo of Straterra and Adderall? If so why?

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I got an offer for senior Salesforce associate for support project. The skill set mentioned was LWC, apex and configuration. Wanted to understand how the work will be for Salesforce support in PWC.

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Are new recruits eligible for mobile phone reimbursement within one month of joining? I understand that it needs to be configured first.

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Hi there. Anyone willing to refer for Ops M&A roles at KPMG? Thanks!

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Any one here at HIMSS this week? Anything exciting to look out for?

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Additional Posts in Small Law / Solos

Started my law firm this month. Have a few of-counsel positions and want to do mostly litigation (civil and commercial in NY). Besides word of mouth and networking, have any of you found any websites or services that generate legitimate leads?

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How do firms give bonuses to associate attorneys? Quarterly, monthly, annually? What is a bonus based on? Money recieved, billable hours, etc?

I'm looking to set up a bonus structure for a new associate.

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When potential clients tell you they’ll hire your firm but they want to be 100% reimbursed from you if you aren’t able to get them the outcome they want - how hard is it not to laugh?! 🤦🏽‍♀️🙄

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Has anyone received equity as contingency comp? I have a potential client with a founders dispute. He doesn’t have cash, and the other founder ripped him off and is now running the company. He wants to sue for equity and wants to pay me with whatever equity he wins. I’ve never done a deal like that. Is that even enforceable? CA law. The startup is actually quite promising.

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How do you handle billing disputes? Already feel like we’re a steal compared to other firms, but it’s the pits when clients kvetch about the bill after working hard on their matters. For five figure disputes, anyone recommend collections? Don’t really want to institute retainers, especially since it doesn’t seem common for our practice area.

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Do solos get to write off pro bono work at all?

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Virtual receptionists….anyone utilize this and if so, feedback? If not, thoughts? Start

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Advice for Of Counsel roles? I am of counsel at a firm where I can set my own rate and keep a percentage of collections, which varies slightly depending on whether the client is one I generated or not. I’m finding that a lot of my work is for firm clients where the lawyer negotiated a flat fee (and the hours worked are less, due to efficiency etc). What is the right way for me to be compensated in this scenario?

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Does anybody have a resource available for pricing and billing? I am 2 years out of law school, working as a corporate attorney, and wanting to go solo. Ideally, I will take my corporate client with me, but am working to build work on the side during the transition. Also, do you have any recommendations for document preparation? I would like to draft wills, trusts, and other estate planning documents, but would like a resource that has boilerplate provisions to utilize as a reference.

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How much prof liability coverage should a solo plaintiffs attorney carry.

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Anyone have experience going back to school for either an LLM, MBA or something else while still maintaining their practice? Considering going for my MBA to open practice to more business consulting, but maintaining my full time practice. For context, I am an associate at a 5-7 attorney firm with a billable target in the 1300 vicinity.

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A friend of mine and I are both starting our life firms from scratch. We both do two different areas of law. How can we help each other with referrals and networking? We live in an area that’s pretty geographically large in two different parts of town.

Hi. I’m in need of advice and encouragement. I’m currently working as a public defender(2nd year) but I would love to pursue a solo private practice. I would like to leave the public defender because I am ready to make more money and I am no longer feeling the fulfillment I once felt. I have a family and work-life balance is a priority. What is a good way to gain experience in other areas of law as a solo practitioner? What areas of law are best for maintaining a work-life balance?

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Has anyone used a coaching service for their firm? If so, any recommendations?

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Former client( filed a bar grievance that was dismissed, sent me a demand letter that an attorney responded to on my behalf, and filed a BBB complaint against my non-BBB law firm) has now pro se filed a lawsuit against me in small claims court. Alleging misrepresentation, failure to file a lawsuit, and failure to advise during the process. I have phone logs, emails, and billing notes (all of which she has) that show she’s lying. Should I notify my malpractice carrier? All advice appreciated!

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Are there any real estate attorneys who have gotten into the title insurance business? What does that look like? Do you still carry on a private practice on the side?

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I have no idea what 99% of the other law bowls are talking and complaining about most of the time... anyone else in the same boat?

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I believe improving one’s sales conversion rate is something everyone want to improve but no one wants to admit they would like to work it. Funny how lawyers will spend thousands on seminars to improve trial skills. But this topic is not discussed in our profession. I have read books in sales. But am unable to find any for lawyers. I want convert every lead I can. Does anyone have tips, books, cle’s or studied this topic?

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We are a firm of 5 transactional attorneys and the bonus structure is very unclear. The usual “based on personal performance and firm profitability” language. I wonder how this is calculated in general. What is the percentage bracket of the bonus? Assume it is a high performance 9+ year attorney and the firm is profitable (even with COVID). The based salary is low $120k. Firm is in Tx. I’d love to hear your comments.

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Looking for atty to handle car rental co. Claim against a friend in Paris France. Rented from Enterprise in CA.

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