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I need a Tax Accountant to Help Me With ____ / Re: 401k - "Age 55 Rule"?
« Last post by SteveCPA on November 27, 2018, 06:36:31 PM »
Jim is correct. While I do like the many options available through an IRA, this 401(k) option is great for retirement at 55, before the IRA age of 59 1/2. The SEPP is another option for retiring even earlier without any penalty, but it comes with a big disadvantage of not having the ability to change the withdraws without penalty before 5 years, or 59 1/2, whichever is later, unless through death or disability. There are three calculation options, so there are some choices available. A CPA can help find those numbers so you can chose what is best for your situation. The SEPP can apply to an IRA, or to a 401(k) if separated from employment.
How to Become a Wealthy Accountant / Re: CPA Pursuit
« Last post by SteveCPA on November 27, 2018, 06:19:43 PM »
How often does what you described in the second paragraph actually work out, Maccountant? It sounds great.

I have seen this happen a lot as well. It is harder to find CPAs, and many current single owner firms are wanting a replacement so their clients are in good hands and makes for a smoother transition. I have found this type of job on my state's CPA board. I am also a Macc person that wants to build up experience to have their own firm, or partner in it. I think this is the best way to do it and would learn more than a Big 4 if owning this type of firm is your goal.
Taxes / Deduction of Unreimbursed Expenses as a Employee/Contractor for 2018
« Last post by ErnieK on November 27, 2018, 12:01:55 PM »
I signed a contract with a labor broker (employment agency), which required me to be paid as an employee, W2,  (they will not pay via 1099); then, I was seconded to the agency's client in another state.  The agency paid their portion of FICA taxes, and also withheld same from me.  However, I had considerable expense relocating and establishing short term housing in another state, and also payed state taxes to that state.  My assignment came to an abrupt end after three months due to unexpected events.  I have a business license in the county of my home state (to provide engineering services) of which this employment pertains to.  I would like to deduct expenses associated with this job; however, with tax law changes in effect for 2018, I'm unsure.  My desire is to file as a business on Sch. C or E, declaring a loss against zero income, as it was reported on a W2, since this was a one-time job.  The expenses were 17% of income received.  Is this an acceptable way to file, or am I just stuck accepting the losses?
Thanks for a reply.
Wealthy Accountants in Your Area / Accountant Denver, CO area
« Last post by fastroubaix on November 16, 2018, 10:24:22 AM »

We have a rental property partnership and recently sold a property.  I am looking for an accountant to consult with us on our business taxes and with our personal taxes.  We are in the Denver, CO area. 


How to Become a Wealthy Accountant / Re: CPA Pursuit
« Last post by Josero on November 12, 2018, 02:06:30 PM »
How often does what you described in the second paragraph actually work out, Maccountant? It sounds great.
Index Funds and the Stock Market / Re: Fidelity's new FZROX? 0% expense ratio
« Last post by Jim on October 22, 2018, 05:57:58 AM »
Maccountant, I have no idea how Fidelity will be making money on their zero percent management fee index funds.  I assume with Keith that they will be considered their "loss leader" to get new investors in the door and then overtime up-sell them to advisory services or higher expense products.

As for any plans on investing in the fund.  I won't be investing in them.  Not because I don't believe them, but because of simplicity.  My employer offers Vanguard funds and I invest all of my money at Vanguard.  To move over with my modest portfolio to save 0.04% seems more hassle than it is currently worth.  I may re-evaluate once i get to a $1m portfolio or something along those lines, but that will be several years down the road.  Right now I need to keep saving and letting the market do it's long term thing.
General Discussion / Re: Things we pay for that we can get for free
« Last post by Jim on October 22, 2018, 05:53:11 AM »
That's an interesting take Gatorwife.  I keep reading articles and thinking about things that are free now which we used to pay significant sums of money for (i.e. Skype or FaceTime vs. paying for video teleconferencing) etc.  I see the bottled water vs. tap water thing a lot.  Another similar one is air purifiers vs. getting natural fresh air.  Granted, air pollution is a problem in some major metropolitan areas, but fresh air and opening the window used to be free.  Now we use machines to purify it for us.
General Discussion / Re: Target Dates Funds
« Last post by Jim on October 22, 2018, 05:49:01 AM »
Curly, sorry that this is a later response so you may have gotten good advice elsewhere.  As for Target Funds, the general consensus I have read online is that they are good for an individual who doesn't want to stomach a ton of volatility and just set it and forget it.  The reason being is they automatically re-balance into more bonds and conservative investments as you get closer to your retirement date (in your case 2030 for the target date of your fund).

The only negative I've seen is the expense ratios tend to be a tad higher than if you built out the allocation yourself using Vanguard funds based on the allocation of the fund.  The trade-off is you would have to manually re-balance every year to get to a more conservative asset allocation.  Even with the higher expense ratios, they are significantly lower than an active managed fund.

Sorry to hear you felt like you were sold on them and pushed onto you, but they aren't the worse things have sold on you.  Based on you having a 12 year old son active in sports and you working a bunch, I could see why your adviser recommended them as it would naturally get more conservative for you without your intervention. 

Hopefully this helps.
I need a Tax Accountant to Help Me With ____ / Re: Transferring Universal Life Insurance
« Last post by bteach on September 27, 2018, 10:29:12 PM »
Thanks for the advice. I've stopped contributions to these accounts and may just bite the bullet and get out of UL completely. Financial goals have changed since we started those accounts so there isn't the need anymore. Better to get out of those killer fees now!
Below is a link to my website.

I work virtually with several entrepreneurs, small business owners, and self-employed individuals. If you are geographically located elsewhere but are open to working virtually, lets chat.
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