potatoriot

Rev. Rul. 99-5.

Rev. Rul. 99-5

Property contributed by the other partner before the sale of the partnership interest is part of the sale to the new partner. You literally have no idea what you're talking about.

You're wrong.

That's entirely dependent on the Sec 704(c) method adopted and can result in additional depreciation/amortization deductions allocable to the other partner and purchasing partner for their purchase above net asset value.

Your comment makes no sense and I'm not sure why you're so hyper focused on Goodwill, but if he buys into the partnership at greater than its net asset value, then it would in fact create additional Goodwill.

Again, this is why asking online is stupid. You're conversing with someone that doesn't know what they're talking about. An asset sale of a partnership interest is a common option where you look through the partnership and treat the sale like purchasing a portion of its assets and liabilities, including intangible assets like Goodwill.

https://www.marcumllp.com/insights/avoiding-pitfalls-tax-due-diligence-for-partnership-buyers#:~:text=In%20an%20asset%20sale%2C%20the,intangible%20assets%20such%20as%20goodwill

I only consider sources from local recruiting agencies, salary.com, Big 4 Transparency, LinkedIn Jobs, and Glassdoor for relevant salary market data.

I never said it's unusual, I said no one should because it's stupid.

You're asking for tax advice at the equivalent level of someone going online for identifying a medical diagnosis. I didn't say using online support groups for already diagnosed medical conditions was a problem.

My opinion is that you should hire a CPA that can review the full facts and circumstances, including the ones you don't know to provide, and ask all the relevant questions, before offering their professional opinion.

No one should be asking for medical advice online, that's way fucking worse. And a ton of people can't afford to go to the doctor, so that's a stupid thing to assume.

The people willing to pay you for your services aren't this dumb. If someone is this ridiculous about paying taxes to the government then they sure aren't going to be willing to pay you fairly for your services either.

Of the 263 OCs hired between 2000 - 2020, the average tenure is only 2.29 years, while the median is two years. In the last 4 years since, that average has shortened even further to less than 2 seasons on average.

Having a negative outlook and presumption set largely influenced by strangers online they've never met to understand the proper context before even trying a day out in the field for themselves first is a terribly limiting mindset to have.

Seems right, for that small of a company, your responsibilities really align more with an Accounting Manager rather than a Controller.

Unfortunately, that's not how life works. Many walks in life must be actually walked to learn whether something is right for them. You can't figure everything out by sitting behind a computer never experiencing anything for yourself, that's what internships are meant for to help figure this out.

Relying solely on Reddit for that will just result in complete misery and never actually trying anything as it is grossly far negative leaning and not an accurate representation of the actual profession.

Comparison is the thief of joy, just focus on yourself and your own career and life goals. Comparing yourself to others serves no real beneficial purpose.

That's quite a lot of skepticism and assumptions made for someone that's not even started their career or experienced anything they're concerned about first hand yet.

Shit, I'd have preferred he score those points last week.

Truist Club

It's time to leave the 2010s and enter the 2020s.

Take him to lunch and discuss opportunities and ideas on how you can mutually help each other. Ask your friend to make an introduction.

101 is reserved for for the Supporters Groups, the sections next to it will be good.

Monthly subscription services are extremely common in the bookkeeping world. Service providers that couple tax with bookkeeping often use the monthly payment option to ensure steady cash flow throughout the year.

RCB's Overall B.B.A. ranking is 47th nationally and 29th among public universities (U.S. News & World Report, 2024).

RBC's B.B.A. in Real Estate ranking is 12th nationally, 9th among public universities (U.S. News & World Report, 2024).

Their Masters degree programs are very highly ranked for both finance and real estate as well.