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If the future of finance is software, then I’m thinking CPAs aren’t part of that future (at least not for a while). What’s the crypto/DeFi CPA? Does that exist yet? I saw the CDAA, others, thoughts? https://www.decinstitute.org/wp-content/uploads/2021/10/B-prop_DEC_Institute_Factsheet_CDAA_-octubre2021.pdf
🔮Monday ETH to cross 1k 🔮
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Time to go SWIMMING !!!
does EY provide law services to their employees?
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SCARED MONEY DONT MAKE MONEY. BUY NOK 🚀🚀🚀🚀🚀
Bitcoin plunged yesterday. Buying opportunity?
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Got around 6k back after my MBA internship. Felt great to get $ back from the taxman
Only psychopaths in tax are excited, or people that aren’t accountants.
Every dollar you get in refund is a dollar you loaned to the federal government interest free...I prefer to owe come tax time
Agree. 2 years ago, I adjusted my withholdings to minimize/eliminate my refund. I then started adding that monthly difference to my savings/investments (originally toward my EF savings, now toward investments).
Rising Star
I just did an estimate of mine and will be cutting a check for around $20k - $25k so I am not excited. 😫
Yeah .... I’m looking at around $100k.... no fun ... but boy it’s great to earn the kind of money that causes a $100k tax bill
I'll start, got ~$7K on my 2019 refund
I'm at my maximum allowable deductions. Yes, I've done the math - at 1% monthly, I've giving up less than $500 in opportunity. Able to claw back because of self-employment which i only figure at the end of the tax year so.
Got 15k back (aka paid 0 taxes that year) when I deducted my entire MBA tuition as a business expense during my first year in consulting post-MBA. It also created a Net Operaring Loss to keep deducting it in posterior years
The last tax reform eliminated that loophole, but it was allowed until recently.
FYI, I’m not even a US citizen
Ok.
F that crap, I just got out of our rough tax season. On vacation until Feb.
Hahaha!
Piggyback off this, what are some good tax write offs/tips ya'll do?
The regular - max out HSA, FSA and 401K (I spread between traditional and Roth). Was eligible to deduct Traditional IRA contributions last year as well. On SE, standard lease payments, mechanical repairs on cars, area in home that i use for work, part utility bills, etc.
I got like 10k back after undergrad and should get at least 5k this year bc I was unemployed. Last year I got $7500 bc I was fresh out of grad school.
15k
Chief
I think I owe money this year
~5K. Max withholding + new child dependent credit.
Rising Star
I’ve usually owed $300-$700 per year. I help my mom with her tax returns and she usually gets back $200-$400 with the EIC.