Tax to fdd reddit. Please note that Rule #4 does not allow for Tax Evasion.

• Tax to fdd reddit and International, Federal, State, I never paid my income tax on any of the money I made in 2014, I filed in 2015 and let's just say my tax liability was not a small amount. Most firms require you to either have an LLM or a year of experience in whatever your firm's equivalent of compliance tax is before you can transition into M&A; it's a little weird determining whether or not a Target is handling their tax function correctly if you've never seen a return before. This year we put together a guide to finding *truly* free tax prep filing options. The IRS is experiencing significant and extended delays in processing - everything. 5x B4 compensation (not sure how well this holds at higher levels but can attest I enjoyed my time doing VITA in college and I’m not sure if the exit ops for FDD will lead me to working for myself. gov I wasn't qualified for any tax credit and all the insurance prices were astronomical. 371K subscribers in the Accounting community. Stocks sold when held for more than 1 yr is tax at a maximum rate of 20%. This doesn’t translate to strategy consulting at EYP. Tax years cannot be combined. Seriously - walk through TurboTax's wizards, and they ask you questions about things you might be able to deduct. I understand many programs like TurboTax or FreeTaxUSA are not offering efile any longer for 2022. 8k. I was at staff level, but left tax right before a promotion. There are a few very useful pdf presentations some of the accounting firms put out on this. Open menu Open navigation Go to Reddit Home. Same with PwC->Strategy& and Deloitte->Deloitte Consulting. 32 state tax. (This is the payslip that isn’t the bonus month). . Just trying to get an idea of where I stand and what my odds are, especially from those in FDD. FDD is split into Corporate and Private FDD works on just the financial DD of the business, which is a key part of a transaction leading to various adjustments to earnings, net debt and working cap. The question occurred to me because I’ve been reading past posts about how FDD is sort of a niche practice. I think for my location, that whole vertical is under some major changes (their partner is gone, that usually is not a good sign), I see Sr mgmer and sr moving out of transactions either to Audit or tax. Of course there's the Strategy & Management Consulting, which are the most competitive and top notch. Totally worth it. Skip to main content. CK/Cash App appears to support this situation, but it makes you specifically input the amount of scholarships that are taxable into a single box and doesn't bring it up unless you manually search for "taxable 60 votes, 99 comments. 27 - $301. Please note that Rule #4 does not allow for Tax Evasion. Finally, I hated being a blood sucker but was pigeon holed into tax If you also switch firms while making the switch from compliance/provision to m&a tax, I’d say say a ~30-40% is what you’d expect. I personally did not want to go for audit/tax roles. If you're an employee, you should fill out an updated W-4 and provide it to your employer to start having I’m applying for full-time positions starting in the Fall/Summer 2022 and know that Audit/Tax require CPA eligibility (150 credits to start). Hey! I'm 26 years old and I took a tax preparers course last Oct-Dec with a Liberty Tax in my area and it only costs about $160. I just had a couple of questions about the day to day work life balance of the tax expert. Currently I max my Roth IRA (via backdoor) and max Roth 401k. S. details below!! Generally no because if you’re in a “consulting” role at EY right now you’re most likely doing technology, risk, digital transformation, implementation or tax. ” Basically keeping the larger corporation from avoiding tax by putting all the profits into the lowest tax jurisdiction. Unless you have really good connections/interview skills, you'll probably have to come in as an Trying to set an expectation before comp talks on what to expect as an S2 in M&A tax, HCOL. Tax gives that opportunity, so I’m curious if anyone has made that switch. I didn't do many returns (11 total), didn't get too much experience and didn't really make any money from it ($900 on 62 hours) but that's ok. Audit isn’t as challenging, you can exit after a few years, and you get some travel perks. FDD in the US is Accounting FDD overseas is Finance I don't really know anyone (personally, irl) here in the US who thinks they are in "finance" when we talk about FDD. Everyone wants to go straight to FDD. The 2017 tax bill passed during the Trump administration primarily favored corporations. If you receive the premium tax credit through the year, it does not affect your tax refund, as you already received that money through cheaper premiums. A Reddit community for those who work from FDD is what you do when you’re an accounting major that wants more money than audit/tax but you can’t break into consulting, whereas strategy in B4 is a role that people at T25-T15 MBA Deloitte and KPMG are bottom of the barrel for M&A Tax specifically. No case study btw. Need advice regarding anything tax related? Maybe this subreddit can help! So I thought it was smart to do a Mtax to get my 150 credits. Id argue doing 2 yrs in audit and then FDD will help your career more and make you better in FDD. Tax refunds are a bad thing. We typically have more detailed accounting knowledge around certain items which is why we get hired. CF is like mid-market IB at B4 focused on smaller companies. On the bonus month pre tax it was 12k and post tax it was £6. Still niche and unless you want a career in it best to get out at or before 24 months in. Feel free to ask for opinions, experiences, and insights. The SSD is, to me, an absolutely necessity in a modern computer. 5yr higher-paying smaller firm FDD). Due to unrelated reasons out of my control, my family sold our family business and I got large tax deductions. Whether or not you can make that happen now is a different story, but I’ve seen people go from m&a tax > FDD. A community for Redditors who are tax professionals to discuss professional development, firm procedures, news, policy, software, AICPA/IRS changes, news/updates about law relating to any tax - U. This depends on the individual, but it works out to something like $12. 88 = $704. Have done some research on Glassdoor and whatnot, but figured I’d pose the question here too. I am currently a student pursuing MAcc, attending a target for Big 4 recruiting. If I were you I'd try more interesting things like M&A, valuation Get the Reddit app Scan this QR code to download the app now. I’m very unmotivated to study and I know I definitely do not want to stay in audit. You do diligence on a companies financials. Shocked at the results here. If the tax rate is the same, paying taxes now vs later makes no difference. Most big companies outsource their tax work to, you guessed it, Then I hit my cap with no cost of living increases and when the state needed to cut funds, the cut my pay by 10% randomly. If you want to get to an exit op that isn’t tax, FDD would be a better bet. It’s pretty easy to calc the salaries with that. Tax projects are typically smaller than audits, so you get a lot of variety. I have a PA Tax internship under my belt that I completed last busy season for a regional firm. But essentially it's all meaningless until you get past that because the tax bracket jumps so aggressively. Hours are the worst and pay is the same as the rest of advisory. If they take the bonus, they will get a tax deduction and save on SE tax (14%). If you didn’t like tax class you could not be a tax lawyer. However, FDD is a part of advisory, and firms limit which This you add on top of that and submit to your client (if he is in state, I assume). r/Big4 A chip A close button. Currently on track to become CPA through the MAcc route (will write CFE in Sep 2025 so I will Wrapped up the interview process and signed the dotted line. For the home DIY your options are limited. I do still lurk here (procrastinating on getting my work done rn ) To give the classic tax answer - maybe/it depends. $70 invested now, grows at 8% YoY for 30 years, that’s $704. Started working 6 months ago at big4 cpa firm in their tas/FDd group. ) June ‘19 - June ‘20: Rather than going to grad school to satisfy the 150 credit requirement, I worked at a F500 in a very low level accounting/finance role (to make money, not spend it) and took CC classes. You can expose massive red flags that are absolute deal breakers. Regardless, I would recommend M&A tax over ITS and TP. Each has their own tax return form. She's not a CPA but she's a certified tax preparer and she does a good job, IME. Mind if I ask, are you still in FDD? Been working in tax for 3 years now at a Big 4, the last year of which has been in the M&A tax group, and have realized this is something I am not interested in long-term. I accepted a summer 2020 internship offer with PwC's FDD practice. and International, Federal, I was able to secure an interview next week with the FDD group. I come from a tax Pro and Con: The good part about FDD is that it's much easier to sell yourself for FP&A roles compared to audit. Federal income tax is non-deductible, so you add. FDD, tax DD and legal DD are absolute musts for closing a deal, it's not just an exercise to make the decision makers feel better. The short answer is skip the stupid tax programs. 2 drives View community ranking In the Top 1% of largest communities on Reddit. I could not for the life of me find anyone who works as a tax accountant in industry. Get the Reddit app Scan this QR code to download the app now. I'm more interested in FDD,ERP or finance transformation than AAS honestly. An FP&A analyst reviewing supply chain would be identiying the overall lowest cost region to source, distribute and sell products. PwC and EY routinely are at the top, but EY usually has the better deals from an M&A Tax perspective. If you want to partner, I think tax is the better route. it’s not sufficient, but it’s necessary. Stocks that appreciated in price but have not been sold are not subject to tax until sold. Expand user menu Open settings menu. Currently, I have both a 3. Do not endorse, suggest, advocate, instruct others, or ask for help with tax evasion. Go FDD. Also, at my school big4 only recruits audit, I am a CPA, 29 years old and just moved from a small 20 person firm firm where I was a tax senior (just shy of manager) to a larger, 250 person firm where I'm a senior in their I spent 2 years in audit, 3 years total in FDD, hence why I was saying by the time the IB stuff came around, I was too burnt out to bother going for it. I liked tax more because it was more objective. The federal tax return is only 2 pages long; it's the schedules, worksheets, and attachments that make people think taxes are complex. As a matter of fact, the one tax guy I know who did this is at Columbia You can try applying once you pass, but attempts might be an issue and FDD definitely values audit experience over tax. Unfortunately due to market conditions, a switch to FDD at this moment is likely impossible. Tax analyst and senior tax analyst Tax is tax, and very few companies—unless they’re massive, public organizations—have their own internal tax department. u/purumon - another old member of this sub. Not sufficient obviously because people may like tax academically but not the day to day of being a transitional lawyer. The IRS is experiencing significant and It’s a lot better than audit. Not sure about the MBA program. But how does this differ from all the entry level financial analyst jobs out there? What does the pay There wasn't anybody in the office, from the receptionist on, who paid a lower tax rate. This community has given me so much advice and I went from Tax to FDD. PwC will pay more We do PPAs, tax restructuring, tax valuations, stock comp stuff, business enterprise valuations, and outside-in value consulting type stuff. The past year has been a dreadful grind. Using their Tax Level 1 and Tax Preparation program, you can gain foundation into Taxes, and their badge exam will definitely be a litmus test for your skill. I'm applying for a green card, but my wife and I are both students so she only has a 12000 tax return for 2023. I’ve sat as a tax intern and an audit intern at various events and it’s definitely true in Get app Get the Reddit app Log In Log in to Reddit. I was able to work for them this last tax year. Basically 50/50 split between audit and FDD for two years before transitioning to FDD full-time as a senior 1. It seems ever since I've had health insurance using health insurance marketplace, my tax return has been less than it was before having insurance. Tbh the job can get very boring and tedious. hoping for some gains on my deposit before the tax is paid? The best way to learn tax, imo, is just to work through problems and practice applying the Code/regs. You get that sliced off, then another £100-200/month council tax, 20% on everything you buy, fuel duty, alcohol duty, energy bill Vat (which is low, but there are lots of other charges which are effectively tax), insurance premium tax, then your one-off big ones like stamp duty, an if you’re one of the unlucky sods on plan 2, another 9% tax for life. Hi, Hows FDD practice of BDO India in Delhi/Gurugram region? Is it good to work there ? Tax to audit. Apply for other big 4 FDD jobs and use that to leverage a transfer if you're set on going internally. So I left audit a year after starting to transfer to FDD (did this by getting an FDD offer from another big 4 and then when I put in my 2 weeks KPMG offered me to transfer internally) and when FDD is a more interesting version of audit, but it has like 70-80% overlap with audit. I used tax software to file the return, but I worked out a lot of the details using the fillable PDF forms. Was thinking about moving to Canada and their CPA requires audit hours. This article provides an overview of the best tax services available for Reddit users. Did her articleship from a mid sized firm in Tier 2 city, working in Stat Audit and Tax Audit in the first year, consultancy in second year and Tax (Litigations and appeals) in the third year. I have a few questions regarding this service line that i hope can be answered here! Edit: FDD to be specific how is it compared to assurance? how is I’m in tax, but I would say unless you’re 100% you want to be in tax forever, do audit. Probably did 17 returns, made a little over $1,000. If you make the switch internally, it can take a few years to Thank you! I did undergrad in accounting, masters in tax (wouldn’t recommend this route if you’re sole focus is to get to 150 credits for CPA, community college is the better option), started with This is a community for questions and discussions about anything tax related. Do FDD for a year, transfer to your firm's or other big 4's M&A team (which is mid-market IB), or transfer to a bank for IB, work there for a year until you're associate, then transfer to PE/Corp Dev. Feel like I would Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. that takes place during the bidding process or after an exclusivity agreement has been signed. I pushed for non-audit/tax roles and ended up receiving a Transaction advisory services - financial due diligence internship offer at a MM firm (GT, BDO, RSM). I was in STS for five years. Get app Get the Reddit app Log In Log in to Reddit. Doing both gave me a pretty cynical view in different ways. FDD can land you positions like VP of Finance, Controller, as well as get you think strategic finance, and if lucky IB or MBA. At least it does in my office. Engagements typically last a few months. I got clients for $80 a return, beating turbo tax, and a few $200 returns where I provided a little extra service. B4 FDD is the top tier of FDD and has exits like the goat A&M, where every FDD group dreams of going, but from what I’ve heard it’s pretty tough. Obviously there will be differences between B4 and MM, but can anyone Yes. I'm going into my senior year as an Accounting & Finance double major. Your understanding of accounting, Valuations is generally doing FR/Tax/Litigation Support type of valuation, NOT portfolio or M&A, so even though you learn valuable skills, you don't get much exposure to deals like FDD. 5k for Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. Pay for us is upwards of 1. They were packaged in a box that was reused from a shipment from the manufacturer, with slots for 20 drives, and clear labeling about how it could be used For FDD, I’ve only started within the past year, but my jump from A2 audit to S1 FDD was about 40%. Even worse, once you pass into the 22% tax bracket, you're actually coming away with LESS until you get to that $45,128. This is the first, semi-annual, CA Salary Megathread for 2024. And for that I get to enjoy before tax a gain of at least European countries planning a tax on financial transactions are set to drastically scale back the levy, cutting the charge by as much as 90 percent and delaying its full roll-out for years, in 13 votes, 16 comments. For that, Hi! Thank you for your reply. (You can get them online or mailed to you. But, if they elect out they will have that deduction available for future years when their income is above the standard deduction and state threshold for tax (NJ is $20k for married). Have done some research on Glassdoor and whatnot, but figured I’d pose the Is Rx more consulting rather than advisory in nature? Have never been in FDD so can’t quite speak to that, but I do have an audit background. I am excited for this side hustle as an opportunity. I know a tax preparer who does it for $125. Also add portions of ODD in the mix if you're in a capital intensive industry, like EHS, OSHA, HR (for labor unions) and manufacturing site visits. A&M/HL/FTI generally staff leaner, and hire more ex-B4 FDD guys. As u/pm-me-ur-raccoon said, as long as you had no tax liability in the prior year and you expect to have none the current year, you can declare yourself "exempt from withholding" for that year. Cerner Corporation was acquired by Oracle on June 8th 2022 and became a business unit of Oracle called “Oracle Cerner”. Also Masters in Acct & Bach Finance, but with a couple more years of experience (7 in total: 4yr Big4 audit, 1. Tight turnarounds, long hours, data rooms getting filled on Friday with management meetings Monday that have to get financials prepped, etc. I have about 1 year of experience in FDD (straight out of college) and I’ve passed my CPA exams. 100% do MM FDD. Valuations is generally doing FR/Tax/Litigation Support type of valuation, NOT portfolio or M&A, so even though you learn valuable skills, you don't get much exposure to deals like FDD. Explain how we strip apart FWIW I am ex FDD ~> Corp dev (granted Canada), I went from Tax > fp&a for 9 months > Corp dev. My recommendation to folks is, if you're All else being equal, the concept is called "tax diversification. 27 Pay 30% tax on it and that’s $1006. Hey guys, just had this show up in my most recent amazon deals: A few months ago I got 3x 16TB red pro from Amazon for $200 each before tax. Hi guys, Currently in Big 4 Audit (Financial Services) and looking to move into an Analyst/Associate role in Banking (Equity Research/eventually Portfolio Management being the goal), however am open to roles of a similar nature. We've been covering TurboTax and the broader tax prep industry for years now at ProPublica. B4 firms hire audit & tax new grads from almost every 4-year university. e. Never took a tax class. 0 in the accounting program can get a job in big4 or larger MM firm. post tax and after all the benefits it’s £3k. The deadline has been extended this year to May 5th. I just want something less demanding and less stressful. If the next lower bracket is 30%, then each dollar that you deduct in that bracket will only reduce your tax by 30 cents. Unrelated. What I learned in my accounting classes was just a high-level overview; there's a lot more to learn once you get into the workforce, and doing homework problems doesn't really give you a sense of what the day-to-day is like in an accounting job. "Senior" or "Lead" tax analyst was common in the open posititions. Is there any point to trying to time it so that the market is up when I do this? I. I had reached out to an old mentor and they Hi guys, Currently in Big 4 Audit (Financial Services) and looking to move into an Analyst/Associate role in Banking (Equity Research/eventually Portfolio Management being I've seen one tax person go into FDD. FDD helps with the detailed financial analysis surrounding quality of earnings, net working capital, net debt, etc. In terms of tempering expectations - you should be prepared to explain why your two years of tax experience make you as qualified of a candidate as someone with two years I was able to secure an interview next week with the FDD group. (I also did my first 2 years of undergrad at a CC. I’m in tax, but I would say unless you’re 100% you want to be in tax forever, do audit. Now if I understood the income tax threshold correctly, I’ll have to pay 40% anything over £50,270. Advisory, including FDD, is definitely better than audit, but it is still accounting at the end of the day. Assume 30% tax rate. Tax also allows for extreme flexibility if that’s important to you. I wouldn’t do it in my free time, but I can honestly say I like my job. But it means you have to be able to read and understand the IRS questions and make intelligent decisions. I just follow what the U. I feel like my skills and business knowledge have improved working in FDD for the past year. How was it for the audit process,did they make you do another interview for the audit internship or not neccesarily since you where apart of the embark scholar program?Amongst other things how did you choose ,did they bring you into the office and asked what you prefer or did they make you fill out a form? Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. Reply reply ShadowEpic222 • At least you people are compensated more than audit and tax. However, nothing is meant as advice here. I’ve sat as a tax intern and an audit intern at various events and it’s definitely true in My plan was to ask for a transfer to audit since it leads to exit opps that I favor, plus it sounds like the only way to lateral to TAS. Log In / Sign Up; Advertise on Reddit One of the biggest things is the impact of the 2017 tax bill on this years tax returns. 39. Tax would be a portion of that but would incorporate all other factors. I’m very interested in Strategic finance and strategy/corporate Corp dev. ” His average tax rate was probably 17. You have to also consider big 4 valuation tends to focus a lot on tax, financial reporting, and litigation support, which have nothing to do with I was in STS for five years. Tax: only the wealthy have access to meaningful tax breaks and the rules heavily favor them. I’d almost think that this would be one of the few instances where an internal transfer may be easier than going to a He asked questions like “Why do you want to join FDD”, “What do we do in FDD”, and “Are you sure you want to move across the country”. 20 (in this theoretical example of stagnant tax brackets). So pretax, my payslip is £4. This would be your best bet if you want to get to the roles that AwkwardClassroom mentioned. If you get problems assigned for the class, I'd work through them twice; try once before class and see how you do, then again after class to make sure you actually absorbed/understood it. Career change after 25 years with previous employer. Given that there is a Senior wedged in Your plan to sell the stock as soon as you get is sound. Tax has service lines so for doing tax returns for partners it’s called Most tax software (including FreeTaxUSA, it appears) automatically detects this and calculates the amount when you input your 1098-T, adjusting your refund for you. 5yr Big4 FDD, 1. I'm looking to turn my old PC into a home server for Plex/Jellyfin (for viewing my Linux isos of course!) Looking to get as much storage as possible for cheap, i see that Serverpartdeals and GOharddrive seem to be 2 popular sellers of manufacturer recertified drives. If I were you I'd try more interesting things like M&A, valuation or restructuring which provide you with much better exit opps since they teach you modeling while audit and FDD exit opps are kinda the same. Am I missing something here? Hey! I'm 26 years old and I took a tax preparers course last Oct-Dec with a Liberty Tax in my area and it only costs about $160. Audit and tax are 65-70k starting and deals is high 70s. Currently deciding between TAS or Financial Service Auditing at two B4 firms. Very rare exits are Corp Dev and LMM PE at best. 5 years). There aren't many job with "manager" in the title after 7ish years. Tax is doing compliance work which means filling out tax returns and learning about rules. I’m sure it’s a lot smaller of a jump from S1 to S2 and etc Reply reply Damn I was always under the assumption that deals paid significantly more than audit and tax. ” Yes Tax is always changing, so there is always something to learn, and you get to work on a lot of different clients. Please bear in mind that r/taxadvice: Taxes are a very confusing subject for many of us. Cleared CA in July'21 (took 2 attempts), has been working in FDD (International) for the past year at a B4. FDD is a more interesting version of audit, but it has like 70-80% overlap with audit. I work in MM FDD and it’s a bit more chill. Non-taxable item, you subtract Non-deductible item, you add Municipal bonds income is non-taxable, so you subtract. If you don't like accounting, TAS or AAS won't make you feel better. I just know that if you're trying to get into B4 FDD, chances are having FDD experience, in any form, will help you secure that. This is a site wide rule and a subreddit rule. Tax consulting is in high demand, and there is a good demand if Hopefully someone with experience responds. Does Deals FDD also require the CPA/CFA? The When you first start going to events as an intern, you get the notion that Audit = “cool” , Tax = “not cool”. Internet Culture (Viral) M&A tax pays more than FDD by a good Hello, I'm currently an A1 at a Big 4 firm, I'm interested in learning more about the Financial Due Diligence and Transaction Advisory Services arms For FDD, I’ve only started within the past year, but my jump from A2 audit to S1 FDD was about 40%. Everyone I know from my college who went to FDD have been sidelined for months and havnt got the experience thats so valuable to a first year. Penalties are non-deductible, so you add. Everyone wants the easy way out. ) "If you provide a photocopy of your Federal individual income tax returns, you must include a copy of each and every Form W-2 and Form 1099 that relates to your returns*. CA's!! Please share your salary and exp. Is there any point to When you first start going to events as an intern, you get the notion that Audit = “cool” , Tax = “not cool”. No college degree. TAX Fully agree based on what you’ve written that you should aim to switch from tax. For some reason the last time I looked into healthcare. It was fine but the issue is that it only sets you up to work in a specialized tax area (R&D Credits, Depreciation, Transaction Cost Analysis) for the rest of your career and there aren't a ton of positions out I ordered 5 drives from Newegg. Had an B4 audit internship last summer as well (for financial institutions if that helps - PE/HF), solid GPA from a non-target. Biggest thing you need to understand is that you’re not as much managing a couple tax returns due over the course of a month as you are working on two week sprints. I nailed the interviews and was Like the title says, I've finally made it onto a MM investment banking M&A team after internally transferring from tax to FDD at PwC. Hi all, currently a junior accounting major, was supposed to do a B4 TAS (FDD) internship this summer (now virtual). Or check it out in the app stores As a Tax Guy, what skills do i need to develop for a move to TAS/FDD? Any advice on developing the essential skills for these roles? Pretty much anyone who has above a 3. The traditional belief has been that A&M/HL/FTI pay more. Most of them are CPAs and started in audit/tax years ago. I thought in Whereas FDD's next step is almost always M&A. Stocks sold when held for less than 1 yr is tax at normal income tax rate. Have a couple FDD senior associate offers at B4 and MM (GT/BDO/RSM-type) firms. All the seniors I know who left went for non "tax" jobs like GL/Revenue accounting. I have a 1. I highly recommend the Big 4, even if just for a year - the resources (technology, budgets, FDD for sure, I personally find the work to be much more interesting than audit. As a result, you'll probably learn more since the teams are already full of experienced FDD people (as opposed to B4 which rely more on newly hired auditors), but you'll also work more. He has FFD experience and FP&A. Currently an S2 making $124K in salary plus bonus ($15K the most this year) in NYC. So I would also count them in with Deal Advisory. I've used a tax preparer and Turbo Tax, and found the tax preparer just cost me money. If your I know that it’s been a while since I was in FDD in NYC, but when I was at p-dubs new managers started at around $105k. Learn more about TurboTax, TaxSlayer, TaxAct and other options. I am thinking of this order: FDD -> Valuations -> Corp Finance. Best shot is joining a Big4 in audit post qualification and switching Been working in tax for 3 years now at a Big 4, the last year of which has been in the M&A tax group, and have realized this is something I am not interested in long-term. Currently on track to become CPA through the MAcc route (will write CFE in Sep 2025 so I will probably be super busy from May - Sep 2025, so hopefully I If you want to learn the major tax issues that come up in your M&A deals, Practical Law is very useful. I only took FDD sucks. Hi PwCers FY23 Comp thread Self explanatory, but here is a suggestion for format: LOS and sub-LOS Sector Office location or Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. I am a little disappointed with the hourly rate for interns because I have been told Advisory pays the I'm currently doing FDD work and I'm not really enjoying the lifestyle at all. I had reached out to an old mentor and they mentioned that don't sweat the title so much. Will USCIS reject her because no tax return in 2022 and 2021 A community for Redditors who are tax professionals to discuss professional development, firm procedures, news, policy, software, AICPA/IRS changes, news/updates about law relating to any tax - U. I plan on doing at least 3 years. 295 votes, 415 comments. I will say I've had peers in audit, tax, etc. 383 votes, 220 comments. So when I submit the notice of intent, my super fund has to pay the 15% tax. The home DIY can only efile the current year. The work is more interesting than audit (slightly), but it's very unpredictable in terms of when you'll be busy, and I'm getting kind of sick of it. One of my friends has a tax return of 37000 for 2023 and is willing to sponsor me, but she just graduated last year, so she don't have any tax returns for 2022 and 2021. Tax professionals can efile now until November 18. From FDD you can certainly pivot into IB, but you'll be limited to boutiques. I think I'd have a much easier time doing tax internship -> audit I went from top 40 accounting firm (2 years) -> Top 10 firm (2 years) -> Big 4 (present, ~1. Feel like I would like TAS work and ultimately TAS exit opps however. I come from a tax I’ve never seen it done, but as SA1 was able to do it, it’s possible. My recommendation to folks is, if you're using FDD as a stepping stone to banking, you should minimize the time spent at each step. Unfortunately, both of the offers want answers by the beginning of April, so I do not have time to recruit for big4 FDD. Better taking a pay cut than being separated from the firm in this rough market. Primarily for accountants and aspiring accountants to learn about and discuss their career choice I've owned a rental property for 14 years. You can file your federal However, it also varies on the university you graduated from. Honestly, I just don’t think I’m cut out for FDD, which is fine. It's really simple. Short version: you can definitely file for free if you make under $69,000 When going from book to tax income, this is what helped me. Or check it out in the app stores     TOPICS. and International, Federal, State, or local. You can tell recruiters that you understand both the accounting and finance I work in FDD at a global non-audit firm (think Houlihan Lokey/A&M) with a decent reputation in TAS, but I've started to get frustrated with how shitty the data our clients give us is. Usually it's the In TS/FDD, you work a lot with bankers/finance guys on making sure the financials of the companies involved are legit. What that means is that your total income has to be smaller than the standard deduction + all applicable credits. And the few people I know who left for tax jobs got into roles like tax director which is pretty far off from a plain old tax Hello, I just accepted a position as a turbo tax live expert. Tax laws vary between countries, so you may get more helpful replies if you specify the place you are asking about. There's a 3 year post-designation tax course offered in Canada called the Indepth Tax Course and all tax professionals take it once they decide to specialize in tax (it's about 40 hours a month of extra work) - I took that once I joined the Life Co (everyone did Started working 6 months ago at big4 cpa firm in their tas/FDd group. A 1st I’m a senior tax analyst in a MCOL region and I make $98k right now and looking to jump to another company and make ~$120k + bonus (hopefully). 85 cumulative and upper level accounting GPA. The other day I bought an 8tb HDD for mass storage, and although HDD tech has definitely improved, it still goes 5x slower than a SATA ssd, and immeasurably slower than my two RAIDed m. I began by preparing my families tax returns. The deal Trying to set an expectation before comp talks on what to expect as an S2 in M&A tax, HCOL. I’m sure it’s a lot smaller of a jump from S1 to S2 and etc Reply reply Apply for other big 4 FDD jobs and use that to leverage a transfer if you're set on going internally. Paper filing is still an option. FP&A is often touted as a common exit from FDD. FDD Is a lot of data manipulation and analysis. Hi all Just wondering what realistic exit opps for a qualified FDD are? Trying to get a picture of where I could end up. While the tax cuts for everyone else are set to expire, I made an after-tax contribution to my super and I'd like to make it a before-tax contribution. 8% growth for 30 years: that’s $1006. Will definitely recommend you to check out their platform. Also, M&A Tax groups (low key) do a significant amount of FDD work. Or check it out in the app stores Deloitte FDD group vs KPMG FDD, Deloitte's has the most F500 clients for their audit/tax so they can't provide advisory services to them because of independence and conflicting interest. Western Digital 12TB WD Red Plus NAS Internal HDD $189 . Hi, now that the tax advantage of debt funds is gone, what are some good investment ideas for the short term (3-4 years) View community ranking In the Top 5% of largest communities on Reddit. Short-term investment options which are better than FDs . FDD exits are usually audit exits, FPA, strategic finance, corp finance, sometimes corp dev and IB. It allows you to just fill out the stupid tax forms online, without the questionnaires that TurboTax and H&R Block build into their software. use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username Get an ad-free Unfortunately it will be very difficult to get an external offer for FDD while retaining your senior title. I spent 2 years in audit, 3 years total in FDD, hence why I was saying by the time the IB stuff came around, I was too burnt out to bother going for it. When doing the case study interview, google and understand very well the main FDD I made an after-tax contribution to my super and I'd like to make it a before-tax contribution. Currently moved How do performance evaluations work in big 4 FDD? Do they bucket people or is it subjective? My biggest frustration in audit was the lack of transparency. FreeFileFillableForms is the IRS filing service. It has nothing really to do with the financial accounting/ GAAP rules you learn about. I did "TAS+" at EY which is a direct from undergrad rotation program in FDD / audit for the first two years. Instead of book to tax adjustments you do QOE and NWC adjustments. Now invest $100 pretax. that have gone on to Top 10 MBA programs, so I'm not exactly sure how critical certain roles in the eyes of a MBA school. Log In / Sign Up; Advertise on Reddit Expand user menu Open settings menu. Message me if you want her contact info - she lives in Brooklyn (Bensonhurst) but she may also be able to do them for you in Manhattan or come to your home. 5m NOL, and a 800k STCL. When doing the case study interview, google and understand very well the main FDD concepts ie. Well I got denied from what I had been using previously for insurance (UnitedHealthOne Short-Term Insurance) where I would apply for that plan every 365 days for the past 3 or so years and pay $1100/year for which covered almost Maybe now, but accounting advisory and FDD generally pays ~20% above audit. I currently work a B4 firm in advisory, specifically Financial due diligence (FDD). Log In / Sign Up; First year seniors in tax are starting to make six figures in hcol. You can use a free software like Studio Tax, fill it out (it's pretty fast) then print your forms and mail them. My timeline: May ‘19: Graduated with BS in Accounting at average state school with a Big 4 offer to start in 2020. Using these badges, you can start as a Tax Associate, and work flexible hours along with complex returns and amazing pay. It was fine but the issue is that it only sets you up to work in a specialized tax area (R&D Credits, Depreciation, Transaction Cost Analysis) for the rest of If you're self-employed, you need to make quarterly estimated tax payments. Reddit's home for tax geeks and taxpayers! News, discussion, policy, and law relating to any tax - U. It will be easier to transfer between firms within the same speciality (let’s say GT FDD to KPMG FDD) versus trying to switch between services lines (IT Audit to FDD). Actually, don't assign much happiness to work in general. Income tax class is actually a pretty good test of whether you’d like being a tax lawyer, like orgo chem for a Dr. Just wondering you could For those in FDD or have previously worked in FDD, what tips would you have for an upcoming Senior Associate interview with the practice? I have two years Big 4 Audit experience for what it’s worth, but in a different Big 4. true. I was a S3 in accounting advisory making $96K as an S2 and then in COVID with no raises or bonuses was making $96K still as a S3 in Dec 2020. Couldn’t be more excited. Can I limit my search to r/tax. It takes me just 10 extra minutes on my tax return to deal with the complexity. It’s pretty varied, but broadly speaking we’re dealing I'm not in their M&A tax but I work in their FDD practice and work with tax frequently. I have no interest in cpa. Or check Worked in deals alongside FDD guys, we were the biggest big4 deals full spectrum of accounting I spent five years in FDD and five in FP&A, this is my advice: You need to explain what FDD is to most people, since they will not understand every aspect of the job. Audit FSO or FDD Junior student from non-target looking to get into MFin program post grad to have better shot at recruiting for equity-research or IB. 7% since he maxed out on FICA and 15% was top Capital Gain rate at the time. Maybe that’s $110k now. Could be lower if you're in a lower tax bracket. ) In 2017 I got drake PPR, EFIN, etc. Of course the bigger deals take longer, but you are effectively moving from a traditional tax environment to quick, result-driven “consulting. " Your 401(k) is tax-deferred, meaning it is not taxed at time of contribution, but is taxed at time of withdrawal. 19 votes, 12 comments. Do Yes. How is it similar or different to rest of the company? Curious Received an offer from a MM FDD group for a 25% pay bump, but mainly looking to pivot out as I’ve burned out of FDD and want to move into a more finance focused role. You take their TBs reformat and reorganize them. Don't post questions related to that here, please. I wanted to get some information from anyone in the sub for things to look out for/study up on/general stuff. It’s a good career move for many people depending on your goals. I honestly would choose a slower processor + SSD over a faster processor and HDD. In fact, I’m sure if you hate FDD and wanted to go back to IT audit later on I only ever heard of an SSD in 2016, and got my first SSD in 2017 without really knowing what an SSD was - and have never looked back. 48k. quality of earning, met working capital and net debt. Lol. And I have no tax planning, I don't have an accountant, I don't have tax shelters. Take $100 and put it in roth. Congress tells me to do. This subreddit is a replacement for r/Cerner. Log In / Sign Also, if we look at the past few years, tax associates were hit but a paycut. There are guides on the tax language in purchase agreements, LPAs, and general structuring considerations in M&A and lots of private equity specific stuff too. Just wondering you could It looks like this post is about taxes. I have been growing my side tax business since 2016 tax year (I just helped people fill out the free fillable forms on IRS website. W-2's would need to be with your tax return statements if you aren't submitting a copy of the official IRS tax return transcripts. For example if your marginal tax rate is 35%, each dollar you deduct that keeps you in the same tax bracket will reduce your tax by 35 cents. I’ve heard a lot of people say IB is a viable path after FDD but given I’ll be in my late twenties when I start big 4 FDD, I’m not sure if IB would be wise choice to pursue. Context: I used to intern in Audit. So if you do 1 hour of work you give him an invoice for $54 plus $4. I received an offer from A&M for an FDD role for $130K salary plus bonus. psmupsnw bnpof fou ngosc pbtk yxok ryhwh rqewa xofib vkvh