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Messages - paul1454

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31
General board for soon-to-be 1Ls / Re: take home pay?
« on: May 23, 2007, 02:27:49 PM »
Quote
In 2007 (though you'll be at least 2011 before making $160,000 for a full year) Federal Income Taxes would be as follows:

Single:

$160,000 - $5,350 (Standard Deduction) = $154,650 Taxable
Tax = $37,413
Effective Tax Rate = 23.4%
You are still in the 28% tax bracket for the next $6,200 earned.

Married filing Jointly:

$160,000 - $10,700 (SD) = $149,300 Taxable
Tax = $30,797
Effective Tax Rate = 19.2%
You are still in the 28% tax bracket for the next $46,550 earned (bring on the bonus!).

Obviously children significantly reduce your tax liability.  As for other witholdings and state income tax, I have no idea, though 15% of Gross Income seems like a good estimate (perhaps someone else can elaborate.)  That would mean the following:

Single takehome @ $8,200/month
Married takehome @ $8,773/month

Lets not forget our personal exemptions!!!!  ;)

32
General board for soon-to-be 1Ls / Re: Lenovo vs. Dell
« on: May 21, 2007, 03:10:21 PM »
I just posted this on another thread but:

I am considering purchasing a dell Inspiron 1501, AMD dual core processor, 1GB of Ram, 80GB HD, with XP and a 3 year service warranty for $714 plus tax.  I'm getting a business deal at work, but I was hoping you guys might have some input before I purchased it. 

Let me know what you all think.

33
I am considering purchasing a dell (I know, what am I thinking) Inspiron 1501, AMD dual core processor, 1GB of Ram, 80GB HD, with XP and a 3 year service warranty for $714 plus tax.  I'm getting a business deal at work, but I was hoping you guys might have some input before I purchased it. 

Let me know what you all think.

34
General board for soon-to-be 1Ls / Re: Tax Law
« on: May 20, 2007, 03:34:14 PM »
Typical accountants do a lot of compliance type work while attorney typically are able to get involved in a lot of planning/consulting. 

There are, however, exceptions.  After gaining some experience, accountants (tax managers and senior managers, typically) do quite a bit of consulting/planning and attorneys who take jobs outside of law (say Big 4) complain they get stuck in much of the compliance work as well.

HTH

35
Quote
Though I have no desire to practice it, I just wanted to say that tax law is by no means "petty."

I was thinking the same thing.

36
Quote
Quote from: paul1454 on Today at 01:48:25 PM
Two weeks after I was supposed to receive a response, I followed up on my inquiry and received an e-mail from Dean Bakert (who requested I e-mail her directly) that stated "Frankly, I do not have time to answer your questions right now".

Incredible that she took the time to email you this, but nothing else. That would have been enough for me to withdraw, even if  I had been considering the school.



Her reply e-mail (which included the quote I mentioned above) was actually quite long which made her statement even more ridiculous. 

37
The University of Kentucky (Dean Bakert specifically) was awful this cycle.  They lost correspondence I sent them, failed to respond to questions, and were quite rude in some of my interactions with them.  

For example, I am an instate student above their 75% for both GPA and LSAT.  They offered me a small scholarship that was a joke.  I was told they would reevaluate the scholarship yet no news ever came.  Two weeks after I was supposed to receive a response, I followed up on my inquiry and received an e-mail from Dean Bakert (who requested I e-mail her directly) that stated "Frankly, I do not have time to answer your questions right now".  

I withdrew several days later.  


38
Congrats again!  ;D

39
General board for soon-to-be 1Ls / Re: Approach to Studying
« on: May 08, 2007, 03:34:46 PM »
Quote
Actually, this is the worst way to approach studying. 

If you already know how to study, why even post your "question" in the first place?

40
Exactly.  Outside the top 25, one shouldn't focus so much on rankings in general.  One should be more focused on location and regional reputation in regard to where they would consider practicing than giving the greatest weight to the difference between #37 and #50.

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