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Favorite team:LSU 
Location:
Biography:
Interests:All things LSU
Occupation:CPA
Number of Posts:47
Registered on:3/9/2013
Online Status:Not Online

Recent Posts

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re: Cubs World Series run begins tmrw Bryant called up - Taxing Tiger
Ha! Will never understand that. If he can't pitch then he will have that flaw exposed all season!...
Posted on More Sports
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re: CPA's Exiting Public Accounting - Taxing Tiger
Our firm offers 80 hours vacation + 40 hours sick time annually. Vacation rolls over but sick time does not. We allow every hour worked over 40 to accrue and these "comp" hours are treated just like vacation (roll over included). We require a 55 hour minimum through 4/15. We have a second busy seaso...
Posted on Money Talk
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re: my Posi-Tiger credentials are unquestioned... - Taxing Tiger
Don't post much...been a miles supporter for a long long time...I'm done. I don't enjoy watching the games anymore. Tired of the shite show. Pathetic. ...
Posted on Tiger Rant
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re: Mac Marshall has left the baseball program. - Taxing Tiger
Well said. He will get his. Karma always seems to keep these types of situations in balance. Janzen Jackson is one that comes to mind. ...
Posted on Tiger Rant
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re: Any experience with tax credit apartments? - Taxing Tiger
Your on the right track. Apartments funded through the low-income housing tax credit make an election upon receipt of their credits to rent a certain % of the units to individuals whose income is at are below % of area medium gross income. Typical election is 40%+ of the units must be rented to peop...
Posted on Money Talk
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re: Did two children just die on Bluff Road in Ascension Parish? - Taxing Tiger
May not be the issue here...but 55 is to fast for that road. We just started building on Bluff so I've spent a good bit of time out that way over the past month. Way to many people hauling arse down that road. I stay at 45 and people are constantly flying by me....
Posted on O-T Lounge
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re: So is XO Night Club as terrible as it sounds? - Taxing Tiger
The Shelter? Circa 2000. Had some damn good times there back in the day....
Posted on O-T Lounge
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re: PMI payments question - Taxing Tiger
Not forever. They will continue until your LTV (loan to value) ratio reaches 78%. However, your required to at least make 60 monthly payments. Depending on your down payment and any extra principal payments you make, they could be gone in 5 years. If you only put 3% down and only make your standard ...
Posted on Money Talk
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re: Help with taxes: Tax withholdings - Taxing Tiger
It's a pretty safe bet that MFJ is more beneficial. I'd think that whatever online software you used would have alerted you if it was more beneficial to go the MFS path. The software we use at our firm (Lacerte) provides you with this analysis. See if you can log back into your account...there may b...
Posted on Money Talk
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re: capital gains tax....help - Taxing Tiger
Correct. There are certain conditions that must be met to avoid the CG. I assumed the original poster had met these requirements. To vague of a question to answer with specific tax advice. ...
Posted on Money Talk
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re: capital gains tax....help - Taxing Tiger
There should be no capital gain on the sale of your main home. If it's an investment property you could have setup a 1031 exchange if you were looking to buy a similar property. ...
Posted on Money Talk
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re: Help with taxes: Tax withholdings - Taxing Tiger
Who does your taxes? They should be able to give you a MFJ versus MFS report from their software. The report will tell you which one is more beneficial. I'm guessing it'll be MFJ....
Posted on Money Talk
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re: I'm stumped by this tax question - Taxing Tiger
This is all based on the assumption that they have not used up their lifetime exclusion amount. The $250K is a lifetime time amount (cumulative for all sales). At least that's how I remember it. I'm not sure that anyone keeps up with this personally. Furthermore, you'd have to be pretty damn lucky t...
Posted on Money Talk
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re: Basic tax question - Taxing Tiger
http://www.irs.gov/publications/p521/ar02.html Check out IRS Pub. 521 linked above. All depends on the circumstances (accountable or nonaccountable plan; date you received the reimbursement; etc). The publication is pretty easy to read and doesn't require a ton of tax knowledge....
Posted on Money Talk
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re: How much would I have to make? - Taxing Tiger
CE Tiger is right. Looking at about $200K. That's factoring in around 8-10% savings for retirement. Could be a little more or less depending on your tax situation (itemized deductions/marital status/dependents/etc)....
Posted on Money Talk
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re: LSU football- best a** whoopin we gave to an opponent this past decade. - Taxing Tiger
Virginia Tech was one of the most complete games from start to finish that I've ever seen. Remember sitting in traffic after the game thinking "What the hell just happened?" Fantastic game. And we owed them that a$$ whipping....
Posted on Tiger Rant
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re: Tax question about renovation of a building. - Taxing Tiger
Get a cost segregation study done after the construction is complete. The cost seg will break down the depreciable assets into different classes. Result is more cost being allocated to asset classes with shorter lives. It's worth your while if you are spending enough on the additions. ...
Posted on Money Talk
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re: Estimated Closing Costs + Up Front PMI Costs - Taxing Tiger
We got a quote about 6 months ago on a $300K loan. 5% down payment, closing cost, and upfront PMI was around $26K. I would not do the upfront PMI unless you plan on being there awhile. Our mortgage originator that we work with said some lenders don't even offer this. So you have to shop around....
Posted on Money Talk
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re: When is Flood Insurance Necessary? - Taxing Tiger
No prob. I'd actually like to hear other people's experiences. Always curious about whether or not I overlooked anything. We close on the land next week. Ascension parish requires you to build at least 1ft above the BFE in zone A. Going up another 1/2 ft saved us 66%. The savings to go up another 1/...
Posted on Money Talk
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re: When is Flood Insurance Necessary? - Taxing Tiger
Just bought some land in flood zone A. We intend to build on it too. I did the research and got insurance quotes before we bought the land. BFE on the property is 11ft. Flood insurance at 1ft above the BFE was $1,550 annually. We are building it up to 1.5 ft above the BFE. The rate will only be $550...
Posted on Money Talk
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