Alex Jankowski, CPA, CFP®

If you bless others, you will be blessed.

Estimated tax reminder ⏰ To avoid penalties, pay the LESSER of: 1) 90% of your current year tax, or 2) 100% of last year’s tax (110% if prior-year AGI was over $150k). Don’t guess... plan your payments. DM to make a plan for 2026 & beyond.

@theficouple I invest based on total return, not cash flow

Lets do the math: $150k invested in VOO would give us ~$560/mo of cash flow. $150k invested into a good multi family rental gives us ~$1,875/mo of cash flow. We really like real estate 🏡

Real tax example 👇 You owe $10,000 but can’t pay by April 15. If you FILE on time and pay 3 months late, failure-to-pay is ~1.5% ≈ $150 (+ interest) If you DON’T file for 3 months, failure-to-file is 15% ≈ $1,500. Filing for an extension will solve failure-to-file.

Potential tax penalties as April 15 approaches: Failure-to-file = 5% of tax due per month. Failure-to-pay = 0.5% of tax due per month. Filing an extension avoids the 5% penalty—but NOT the 0.5%. You still need to pay an estimated amount by April 15. DM if you need help.

@theficouple What do you recommend doing with the other 80%?

Hard truth: Index funds are a great place to put 20% of your money. Not a great place for 80% of your money. ….Unless the goal is to become wealthy at 65.

@taxplan4U That is awesome!!! What school?

@FinPlan_CPA Moving my scholar-athlete out of the dorms . . .

What's your get-away after tax season? Mine is fishing in the boonies of western PA. The Allegheny National Forest to be exact.

@MichaelJDidion Only 300 hours away! Then mostly done But who’s counting? 🤷‍♂️

@FinPlan_CPA Is tax season over? 😂

@Taxsavvyjessica Sounds incredible!!

@FinPlan_CPA I’m going to Cancun 4/19-4-26.

@IraGilligan Claude will no how to handle this. I’d just let Claude prepare going forward tbh

His CPA must be devastated rn

@LoganGrafTax Why do I owe tax on these capital gains distributions! I didn’t sell anything

Accountants: What are the most common questions you get from potential clients?

@nyoungdumb We prioritize the clients that send in crumbled documents with staples all over but neglect to send real estate tax info and forgot to include their schedule C expenses

You know who gets their tax return filed faster? People who use the proper channels to upload their documents and schedule appointments.

@cjtrapp Good point. We should probably amend your last three years returns.

@FinPlan_CPA “I didn’t give them to you last year or the year before and nothing happened…”

Client: “we received those two K1s. Do you need those to finish our return?” No let’s not report your income and just see what happens 😑

@matthew_furnas @1948ccaa @unnatural78 @abigportfolio @leevalueroach Matthew, surely you understand that you cannot determine how well a stock pick has aged 2 months later. You WERE a hedge fund manager. Do you have any record of your funds performance and how it “aged”?

@1948ccaa @FinPlan_CPA @unnatural78 @abigportfolio @leevalueroach Aging well.

I don't know $IREN other than it is a bitcoin miner and now is transitioning to some AI thing. What I do know is their financials look like dogshit. $17 billion valuation. $392 million of cash from operations. $1.3 billion of capex. Every post on the stock is super bullish and overhyped. Idk why people buy stuff like this when they can literally buy public companies trading under cash, profitable and can just flip these.

@1horsetown_IA Hahaha. Painful! Think they’ll have it next year?

@FinPlan_CPA -I mention that they had an investment statement last yr. -What are the chances they'll notice it missing? -100%. -What are the chances of penalties? -100%. ...changed his refund by $15...

@spicedawg56 The filing deadline for s corps and partnerships is March 15th, and then some go on extension…..

@FinPlan_CPA Why do k1s take so long?

@conkydonk50 Oof! Not ideal

@FinPlan_CPA this time of year is awful. My CPA firm does my bookkeeping too and yet they are always asking me for something they already have (duh -- you have the books), asking me a question about last years returns they prepared or ignoring my email. All this to find out how much I owe

@Jasper1388 “You don’t need to know about my wash sales” 😂

@FinPlan_CPA Ok I’ll just send page 1.

@1horsetown_IA My gosh. Show them an IRS transcript and they’ll Think twice

@FinPlan_CPA I have a couple of clients who hide the docs *they* think should be untaxed. Yes, the IRS will totally notice that you didn't include that.

@FrancineHibiscs @Taxsavvyjessica If it says “important tax information” I need it

@Taxsavvyjessica @FinPlan_CPA Every single day this season!!! From people who never did it before!