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Started By
Message
re: Future Tax/Investment Question
Posted on 4/3/14 at 2:01 pm to Teddy Ruxpin
Posted on 4/3/14 at 2:01 pm to Teddy Ruxpin
quote:If true, then your income should be commensurate with your taxes paid. Shouldn't your IBR payments be adequate to repay the loans if your income puts you among the top 20% of taxpayers? Something doesn't pass the smell test. Your IBR payments are capped at 10% of your discretionary income. It seems you are giving us incorrect information about your standard of living, or you provided your lender incorrect information about your discretionary income. But then personal integrity doesn't seem to be something you hold in high regard.
I also pay more taxes than 80% of the population, So I Am "The taxpayer"
quote:This isn't a tax issue, and these aren't tax loopholes. It is a financial decision with tax consequences. When asked for financial advice I do apply my morals to the advice I provide.
Poodle does this every day as an accountant. If he doesn't he'd be a terrible accountant. No tax break or loophole is morally superior to any other.
2
Posted on 4/3/14 at 2:06 pm to Poodlebrain
quote:
When asked for financial advice I do apply my morals to the advice I provide.
as your client, i'd be upset if you let your "morals" get in the way of the best legal solution to my financial issue.
This post was edited on 4/3/14 at 2:11 pm
Posted on 4/3/14 at 2:07 pm to Poodlebrain
You've derailed my thread enough and you've shown your ignorance on the topic enough already.
I can't lie on the application, since they request your employment pay stubs and would absolutely frick you via your taxes paid as well.
You've underestimated the amount of my loan.
What moral superiority position do you want to grant yourself now?
I can't lie on the application, since they request your employment pay stubs and would absolutely frick you via your taxes paid as well.
You've underestimated the amount of my loan.
What moral superiority position do you want to grant yourself now?
Posted on 4/3/14 at 2:08 pm to theOG
quote:
as you client, i'd be upset if you let your "morals" get in the way of the best legal solution to my financial issue.
I wonder if that wouldn't breach his fiduciary duty. Very unethical of him if so. Hell, I'd say it was unethical either way. A fire-able offense.
ETA: From the AICPA:
quote:
A fiduciary has a legal duty to act solely in the best interests of the beneficiary. While an accountant normally is not considered to be a fiduciary to his or her clients, the AICPA Professional Code of Conduct embodies standards of conduct which are closely analogous to a fiduciary relationship—objectivity, integrity, free of conflicts of interest and truthfulness. Accountants who provide audit services cannot be held to a fiduciary standard given their duty to the public.
Courts have found that an accountant can be a fiduciary to his or her client when providing certain professional services including tax services, asset management and general business consulting. Generally, if the following three elements are present in a client relationship, an accountant may be deemed to be a fiduciary to their client: (i) the accountant holds himself or herself out as an expert in an aspect of business, (ii) the client places a high degree of trust and confidence in the accountant and (iii) the client is heavily dependent upon the accountant’s advice. An accountant who provides investment advisory services as a registered investment adviser is a fiduciary to his or her advisory clients.
Uh OH
Again, if my lender was named "Goldman Sachs" or "Chase" he'd be all over it with an accountant boner, and thus, a hypocrite.
This post was edited on 4/3/14 at 3:02 pm
Posted on 4/3/14 at 3:36 pm to theOG
quote:You wouldn't be my client if I wasn't happy with your morals. I've withdrawn from several business relationships when they would require me to compromise my morals.
as your client, i'd be upset if you let your "morals" get in the way of the best legal solution to my financial issue.
Posted on 4/3/14 at 3:53 pm to Poodlebrain
smart move.
Posted on 4/3/14 at 6:14 pm to Poodlebrain
quote:
Poodlebrain
You need to fricking get over yourself.
That is all.
Posted on 4/3/14 at 9:52 pm to AnonymousTiger
quote:
AnonymousTiger
What that guy said.
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