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Reply to "DH is a new big law partner and I have no clue how to budget "
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[quote=Anonymous][quote=Anonymous]Good god people are being awful to you OP. My DH is also in his first year as a partner and it’s confusing. Thankfully his firm springs for tax advice for new attorneys, but the person upthread who said it feels like a paycut after quarterlies and before EOY is spot on. It makes perfect sense to me why this would be confusing if you’re used to a system where you pay bills and otherwise budget based on the money that ends up deposited post-tax. This is totally different and we are going through the same thing. I’m thankful to have professional help [/quote] We are in the same boat as you too and I agree with PP - we are using an accountant who works with dozens of partners at his firm. The advice has been invaluable, but really, at the end of the day he agrees it’s just impossible to know exactly what you’ll have coming in for budgeting purposes. I hope it gets easier to figure out as the years go by![/quote]
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