I miss you in the cave. Things get gross in there but deep down I love everybody there.
2018 Taxes
- Thread starter Cyclone06
- Start date
I miss you in the cave. Things get gross in there but deep down I love everybody there.
I always thought a CPA designation didn't end, like you could claim it regardless of whether you were up to date on licensing as long as you weren't doing cpa work.
On the simplest of levels, yes. What if your income rose and your effective rate rose...how do analyze if you're better off? How do you analyze if you'd have been better off with previous deductions, credits, exemptions, etc?
You can be an "inactive" CPA.
I thought I was pretty clear it was my own personal experience. I have no idea what a scientific study would tell you.
So you all feel better my buddy just did his taxes and owes $35,000. Pretty sure he will name his firstborn AMD after all the money he made off that stock this year.
Jacktronic
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Somehow I overfunded my HSA even though it was all taken out of paychecks with no individual contributions by myself. Anyone know if I deal with the HSA provider or my benefits manager on removing the excess before I file?
I think you can notify your HSA provider and there's a form to remove excess contributions and any excess will be taxed as extra income.
I regret not buying into that when I had the chance. I followed that whole saga from start to finish and knew it was coming, yet still didn't act on it.
I did my taxes last week. In several years past, due to my 2008 housing credit I usually owed about 200-250 at the end of the year. This year I got a 282 dollar refund. I also usually itemized, but this year it didn't go over the standard deduction.
2017 my effective tax rate was 22.5% - taxable income to total taxes, and 20.3% - total income to total taxes.
2018 effective tax rate was 18.5% (taxable income) / 16.5% (total income).
Itemized in 2017 $17,500, standard in 2018 $24,000 with income substantially the same.
Life changes - we've been renting all this year - sold house in 2017 but prop taxes and mortgage int were small back then due to interest rate.
This republican who believes in vaccination and GMO foods is better off however I am offering NO opinion on tax policy nor politics.
2018 effective tax rate was 18.5% (taxable income) / 16.5% (total income).
Itemized in 2017 $17,500, standard in 2018 $24,000 with income substantially the same.
Life changes - we've been renting all this year - sold house in 2017 but prop taxes and mortgage int were small back then due to interest rate.
This republican who believes in vaccination and GMO foods is better off however I am offering NO opinion on tax policy nor politics.
Always had a soft spot for AMD. Bought a fair amount back in 2013 when it was below $2 sold most of it when it hit 4. Bought again in 2015 when it hit $2 again and then sold about 2/3rds of that when it hit 14 dollars back in 2017. I honestly should probably sell the rest of my stake. Given the huge R&D funding gap between AMD and Intel as well as a pretty decent sized on between them and Nvidia I'm a bit bearish on their ability to stay/be competitive.
Traditionally, AMD (and ATi back in the day) goes in phases. We're currently in one of their strong CPU phases and a "meh" GPU phase. I'd expect that to continue at least for a couple more years yet, but I think their stock price will level off near current, barring an overwhelming development by Intel (their last few generations have largely disappointed in comparison). If AMD gets their high-end GPUs back to a competitive point, they will see a further stock jump. For the business as a whole, even in bad times, nVidia and Intel won't push too hard -- neither of them want AMD to die. They both get lax when AMD falls behind. That being said, they've definitely been moving the right direction the last couple years and made remarkable improvements that have clearly caught Intel by surprise. They still have some work to do to catch nVidia's top tier, but they are competitive now in the low and mid segments. Driving their stock price from $2 to $14 is no joke.
For doing the same amount of work, absolutely.
But there is a point when doing additional work isn't worth the additional pay. Time is more valuable than money.
I can't tell you the level of stress reduction I encountered from dropping out of not just that, but the generic "politics" stories and media platforms everywhere. Luckily I can still find that hostility on any random game thread whether we win or lose!
My method obviously won't tell you WHERE the impact hits you, but since my filing conditions are basically the same, total tax divided by total (or taxable) income gives the direction.
I went far beyond "inactive" and quit everything regarding CPA stuff... Was thinking about "inactive" but I wasn't a very good CPA and thought if I ever had to go back to that line of work I'd look for anything else. I was never an "angle" guy and always had trouble with the billable hour. Lots of my old clients were new and unsophisticated and needed lots of hand-holding. Partner I worked for didn't like write-offs.
I do still brag about being a first-time passer back in 1992 thanks to the Becker course I took in Indy!
That's my opinion. I will take a raise for the same amount of work, but if you want me to add 50% more work and take over half of the reward for doing it? Feel free to do it yourself.
