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> you will be kicking yourself really hard because if you'd only prepared, you could've been paying LTCG... AMT... illiquid stock... IRS... CA FTB... ACME... Ro
by etatoby 10y ago
> you will be kicking yourself really hard because if you'd only prepared, you could've been paying LTCG... AMT... illiquid stock... IRS... CA FTB... ACME... Road Runner...
Look, I won't be kicking myself neither hard not soft, because I made a conscious decision to study and become proficient in another field.
You finance people work under the assumption that everybody cares—or should care—about the underlying concepts of your field, not to mention the details such as jargon and acronyms, just because we have to use money to conduct our daily life. That's demonstrably false.
It would be like assuming everybody who uses a smartphone should care and become proficient on TCP, signals, sockets, PIDs, scheduler priorities, and what not. In a word, foolish.
Considering the stock options you're given basically worthless, unless fortuitously proven otherwise, and making your employment decisions based on salary alone (and other non-monetary factors) is a valid strategy, because it allows you to avoid having to invest time into studying and understanding all those foreign concepts. Since time is a finite resource, choosing how to spend it while still having your butt covered is great advice.
On the other hand, if you are a founder of have otherwise invested a considerable amount of time and energy into those shares, it would be foolish not to seek professional advice on their management, as the article rightly points out.
- gaius 10y agoYou finance people work under the assumption that everybody cares—or should care—about the underlying concepts of your field Those aren't finance terms, they are taxpayer terms! Long term capital gains, alternative minimum tax, everyone knows who the IRS are...
- hifumi 10y agoBut those acronyms are vague and I had no idea what they were until you spelled them out.
- 1812Overture 10y agoThat's the point of the article.
- kspaans 10y agoUnderstanding how much you owe the IRS in taxes is personal finance, which isn't the same thing as business finance.
- YuriNiyazov 10y agoThis is tax jargon. Death and taxes, everyone should care about those two.
- marssaxman 10y agoI care about taxes, sure; that's why I delegate the problem to a competent professional.