Jennifer Climo, CPA CFP(R)

CEO CPA and CFP(R) NOT INVESTMENT ADVICE. Talk to a licensed financial advisor about your personal situation.

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@SmithMatthewC @natesosa_CPA But it’s often wrong and doesn’t connect to the correct source citations. Has this improved since tax season? BlueJ is the AI version of tax research and is even more expensive than TR CoCounsel. Even CoCounsel hallucinates; but at least it pulls up the relevant research.

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

https://t.co/ICpP2qW0y2

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

Let’s hope “Footnote 102” is adjusted by Congress or a lot of trust beneficiaries are going to be surprised by double taxation this April! Also, this provision creates sticky problems for QTIP trusts, 2nd family trusts and charitable trusts may end up owing taxes!

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@AjOsborne1 Define “AI”: was it an LLM or AI capabilities inside a software that you used or implemented ?

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@michaelcutajar I am testing Ramp as a replacement for normal credit cards. It automates the entire process including reconciliation. Super easy interface.

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@BlakeMillardCFA Can you make an instant, in-kind Roth conversion? Tax withholding journals? Freeze accounts subject to fraud so nothing comes out without extra oversight? Scan deposit rollover and other checks?

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@AdvisorJobs As has been said above, we could only take 10-20 of these clients at any one time.

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@AdvisorJobs They should go in smaller groups, and find medium size advisors nationwide. Avoid the large firms. Our fees are very competitive for those with $10M-$30M, and we do in-depth financial and tax planning as well as investment management for clients nationwide.

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@jennyrozelle Yes. Please, please don’t rely on your current spouse to provide for your children from a prior marriage. Risk of the kids getting nothing is too high!

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@FiSurgi Great points as well. As with anything, it depends on your other income, spending, tax rate, ability to not spend all your money, savings rate, marital status, life expectancy and probably a few other things.

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@CLT_Exam Don’t forget:

How to apply for a job
How to write a resume
How to track your expenses
How to save for the future
How to file your taxes

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@dlwiest Companies need the enterprise version of Claude for the security features, and that costs $20/user/month PLUS 100% of all usage. It gets very expensive very quickly.

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@CMcCulloughEA I am not interested in paying $4,000 a month for whatever AI software people are peddling. They need to start at a reasonable price point.

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@MebFaber @altruist I’m not sure why a CFP would choose to work for Schwab vs an RIA with room to grow.

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@AmericanAir @Starlink Amazing!

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@darrelltalksfi The average person doesn’t retire at the average age. Also, I’d be interested in the median balance, not the average.

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@CPATaxTeam While washing dishes, driving, monotonous chores

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

Because the wrong people were hired.

[MossGossip @moss_gossip]

True, but why are the HR department employees always so smug yet insanely incompetent when you actually need them to work a problem? I had a 6 week medical leave, and I was in touch with HR every week. When I came back, my immediate supervisor thought I had left the company (she, too was an idiot) because HR screwed everything up. I worked it out, but these hr people are generally dumb assholes.

[Jennifer Climo, CPA CFP(R) @JenniferLClimo]

@JTLonsdale A company needs job descriptions, career paths, benefit management, an employee handbook, offer letters, job postings, some way to objectively manage performance - and someone needs to do that. It’s actual work. There are employment laws that need to be followed.