u/ConsiderationHour861

▲ 270 r/tax

Please stop investing in 0.xxx% partnership shares.

Tax CPA here,

I keep having to have this same conversation with clients about how having a billion K-1 or joint tenancies earning between $-2,000 and $2,000 is just a terrible way to invest. We charge between $300 and $500 an hour. If you are lucky and a K-1 takes just half an hour of our time, you may lose ~15% of that income in tax prep. Get into multi state, tons of sep stated items, or if we have to evaluate if you have a filing requirement from these cumulative amounts and suddenly you are paying half of the amount earned in tax prep. That 8% return your advisor promised is now 4%. On top of them charging you %AUM and a fee for orchestrating the partnership investment opportunities.

Sometimes simpler is better. A K-1 with $1,000 in income is the same prep time as $100,000 fairly often. Diversification is important, but it shouldn't come at the cost of eating up your return on investment.

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u/ConsiderationHour861 — 14 days ago

Only young and dumb once: high HP RWD or AWD suggestions

I'm debt free a little over a year after graduating from college and managing to save around 3k a month after expenses. I'm seriously considering getting a second car just for fun, but

I'm not sure if I'm considering all the options and things that should factor into my decision.

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Here's what I'm looking for:

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-Manual

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-A raw driving experience - something fun and exciting

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-Coupe or sedan body style

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-Preferably less than $40k, but can be flexible slightly

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-300 plus HP, around 400 preferable (more is ok, but diminishing returns and feel like I may just get myself in trouble)

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-Older is fine, but not too old (around 2000 is my cut off)

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-Bonus points for easiness to work on + parts availability

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My current car is a modified manual 04 Jetta GLI, I plan to keep this car if I don't get another sedan.

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Addl. Cars I have a lot of wheel time with:

-99 Miata - Used to own

-04 Mazdaspeed Miata - brother's weekend car

-17 GT86 - Dad's daily

-14 Charger R/T (auto) - Mom's daily

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I think the GT86 is a good reference point for driving dynamics, it's a little bit on the refined side though. I just can't stand how slow it is and especially lacking in torque. I would buy one if they had more power.

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The Miata is fun of course, I love to drive them, but not what I'm looking for.

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The Charger has the power but is really unengaging to drive - feels heavy and uncommunicative.

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Lastly some compromises that I'm okay with:

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Driving engagement trumps comfort easily: I don't mind a stiff bumpy ride

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Interior quality is nice, but cost for performance is much more important to me.

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Some cars I've eliminated:

Charger/Challenger

Anything with a VQ V6 (various reasons - I'm just a hater)

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The are several others I could probably list out, but I'm not expecting those to be suggested in good faith.

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Current frontrunner is a C5 or C6 Vette, but am still considering other alternatives.

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u/ConsiderationHour861 — 4 months ago