CPA
Coverage of CPA in the Nexus archive.
- ‘I’m running out of time’: I sold my $300,000 rental property at a $75,000 loss. Should I buy another one to avoid taxes?
The speaker sold a $300,000 rental property, incurring a $75,000 loss and questioning if buying another property would help avoid taxes. The owner is currently concerned about their financial situation, noting that their CPA has not provided a response.
- I’m 63 and a retired CPA. I have a $1.2 million 401(k). Do I need a Roth conversion?
A 63-year-old retired CPA and account holder of a $1.2 million 401(k) is questioning the necessity of a Roth conversion. The individual stated that they do not anticipate their marginal tax rate changing materially in the future.
- As an accountant, I've watched too many adults learn about money too late. My kids won't be among them.
A CPA author teaches her teenagers about financial literacy, emphasizing concepts like budgeting, taxes, investments, and compounding interest. She advocates that children learn early how to make their money work by involving them in managing savings and understanding investment principles.
- Opening up a US Amazon seller account for a Chinese Company
A Chinese business partner seeks US-based Amazon seller accounts to access new markets, offering compensation for account creation and leasing. Participants must provide personal information to establish a C Corp and sign a contract outlining terms. Concerns about security arise due to the accounts being managed by a Chinese entity, though limited data exposure is emphasized.
- ‘Take the money while you can’: I’m a CPA and tell my clients to take their Social Security early. Am I wrong?
A CPA advises clients to take Social Security early, noting that only 8% to 10% of people wait until age 70 to claim.
- I inherited a house. My CPA says I should sell within a year to avoid capital gains. Is he right?
A person inherited a house and their CPA advised selling it within a year to avoid capital gains tax. They plan to sell the house to another family member at its appraised value.