Max Blythe
@Blythe_MG
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FACT復活
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بن زكري
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Some jerk raided a USPS dropbox and stole a client's check, blanked it, and then tried to write a check to themselves.
The client filed a police report and, of course, the local cops did very little.
So, where guy screwed up was... he messed with the US mail.
The most
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@rohindhar
@levi_anth0ny
The past 3 mayors have been Democrats. The current mayor is also Democrats.
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@Lifeinvestmoney
This is a conversation with a realtor about a duplex they did not want to show "without a signed contract."
So, we are just supposed to buy the place sight unseen, without a showing, and based on faulty information?
Can't wait to give them 6% on one of life's biggest purchases!
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@JamesSurowiecki
Does he have a reasonable amount of down-payment cash in-hand... or is he just "mentally" ready to buy a house?
I didn't buy until 34 after living in 4 states and abroad.
I can't imagine "putting down roots" at age 23, but that is me.
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@seattle_tax
Dudes are horrible at keeping in touch, especially after they get married; they just stop putting in the effort.
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@shagbark_hick
I lived in Russia.
I would highly, highly recommend against moving there with your family.
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@RealJohnMaher77
The current global GDP is around 100 trillion.
So... 8 - 10% of that will go to taxis in 6 years!?
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@StatisticUrban
The weird thing is, dealerships make more than the manufacturers.
Secondly, does anyone actually like the car-buying experience?
It feels akin to swimming through a shark tank with a backpack full of seal blubber.
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@CPATaxTeam
Ah, but his investment advisor does not invoice, but rather helps themselves out of investable assets.
You, unfortunately, invoice, and then he has to enact payment, which means he has to consider the purchase.
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@shagbark_hick
@vatna_jokull
Foreigners have to register with the police upon arrival in Russia.
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@ianbremmer
So, in your opinion, NATO should have pushed back harder in 2008 and 2014, correct?
What do think should be done now?
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@haggardisms
Want to blow his mind?
Go to the gas station on Sunday before noon and buy a handle of vodka.
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@ImSamThompson
The issue is, those tow drivers are cowboys and don't cross every "t" and dot every "i." They are, legally, stealing your car, so there are rules about signage and such... that they don't generally follow.
I have fought them in court every time I have been towed and they have
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@AtlantaTax
*sigh*
Even the IRS want ads are like, "Tax specialist - CPA required!"
Nothing about EAs, the credential promulgated by the IRS that also specializes in tax.
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@newyorkshade
@eyeslasho
Yeah, see Finland joined NATO and what happened?
Keep in mind Finland shares a long land border with Russia that is next to the strategic Kola peninsula.
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@RepMGP
One of the first things anyone does on a construction site is pin back the saw guard of a skilsaw.
They are going to find some way to jerry rig that detection technology so they can get the work done.
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@scenicnights
@RobMcNealy
@DavidisDawei
Dave Ramsey cultists and logic don't really mesh well...
For them, debt is evil, full stop.
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@CPATaxTeam
It gets kind of exhausting, chasing down people, picking up work only to get disturbed by calls/texts, and such.
Right now, you can spend an entire day, running around, feeling crazy busy, and look back and genuinely be puzzled at what you actually accomplished all day.
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@joshsorbe
Better idea.
Go international... but get weird with it... in your 20s.
I was in Moscow (Russia... not Idaho) from 2004 - 2008.
Good times!
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@Jmcgowan3838
People follow the money; accounting wages have stagnated for a decade.
More money = more accountants.
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Does anyone have an email template for a financial advisor who is recommending S-corp at USD 50,000 in revenue to a client?
In this instance, vulgarity and childish name-calling would be encouraged.
#TaxTwitter
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@IraGilligan
He turned (presumably) long-term capital gains and qualified divided income into ordinary income... with an additional 10% penalty.
The man is a magician!
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@mnolangray
Yeah, I never understood what jobs there are in Santa Barbara that can provide for the cost of living in Santa Barbara.
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@ianbremmer
Thank you for the response.
My concern is that Russia has already signed some agreements that guaranteed Ukrainian sovereignty and borders (the Budapest Memorandum, for example), but here we are.
How does one enforce an agreement with a nuclear power?
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@vrexec
The upside for real estate is that it can be highly leveraged and there are tax advantages to being a real estate investor.
The downside is, real estate is not as liquid as the stock market. I mean, I can ditch an equity position in seconds from my phone. You can't do that with
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@Mikethelummox
@ImSamThompson
Houston, TX (Harris County)
You can request a tow hearing at the Justice of the Peace shortly after you get towed.
You have to read up on the law and document where you were towed to see if it was a legit tow.
That being said, the tow company usually never shows even if it
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@rohindhar
Bakersfield is not "outside of Los Angles" any more than Buffalo is "outside of NYC."
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@TShill12439
@newyorkshade
@eyeslasho
You mean Crimea that was part of Ukraine as per numerous treaties inked between Russia and Ukraine?
That Crimea?
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@TheTaxNomad
TurboTax for business charges USD 1,750 for an entity.
That should generally be the absolute floor for pricing.
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@Dividend_Dollar
For net worth calculation, the fair-market value of your primary residence is an asset, whereas the mortgage is a liability.
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@MikeOskam
@lululuvshollis
He doesn't believe that public officials should own equity in the industries they regulate.
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@djwindle
When you say you "do payroll," you use a 3rd-party payroll processing software, right?
You don't manually calculate withholding, remit payments and fill out quarterlies, correct?
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Is anyone in a rush to get tax planning done, like, this week?
I just got off a heated call with one of my partners about how it is "not fair" (!?) to let them know about their tax liability after Thanksgiving as they "need time to move money around" (!?).
#TaxTwitter
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@imau2fan
@mazemoore
@AOC
Federal RICO is a law that targets criminal organizations that have committed "RICO predicates" like bribery, murder, money laundering, and extortion which certainly are crimes.
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@twinhillsfin
I took over the book of business of a "partner emeritus" a couple of years ago.
2/10. Would not recommend.
Older, high touch, fee sensitive clients that are adverse to technology.
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@CPAiden1
A joke:
What is the difference between an extroverted accountant and an introverted accountant?
An extroverted accountant stares at YOUR shoes.
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@bsuecannon
I would include a follow-up question in there with regards to tax-prep fees.
If they are complaining about "communication" and only paying USD 300, then they are likely the problem
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@twinhillsfin
I "inherited" a book of business from a "partner emeritus" that fits within those demographics.
I would recommend against buying that practice as the transition is going to be hell, especially if you use client portals or electronic organizers.
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@C__DiLorenzo
RICO is an act. Racketeering is a crime.
You need at least 2 RICO predicates, which are things like murder or extortion for a racketeering charge under RICO.
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@AccountingAsArt
The last straw for me was when left the country for a week... and my job kept calling me, insistently, to the point where I had to turn off my phone.
Guys, it was a week. If I can't take a week off in July, I am, clearly, irreplaceable and you need to triple my salary.
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@loganallec
Also... "tax period ending December 31, 2024"!?
These people filing 2024 returns or something?
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@SecretCFO
I don't get how supposedly smart people at SVB bought illiquid fixed-income securities at the absolute height of the bond market.
I mean, interest rates had nowhere to go but up after COVID.
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@OrkishAmerican
@shagbark_hick
@beatsandtweets
Try and survive a single winter out there in a house you built "off the grid."
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@moethecpa
On this end, I am a partner in a firm but operate in my silo as a sole prop, with some contract bookkeepers.
I am the outsourced controller for 4 firms at around USD 120k p.a. in total.
There are about 75 entities with an average of USD 2,500 per return and around 130 or so
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@realEstateTrent
Didn't you recently opine that AI should replace tax accountants?
With property, however, there is "nuance" gain by years of experience?
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@seattle_tax
The big "time sink" is reviewing what clients sent and then asking for additional information and then screening that additional information.
"No, sorry, I need a 1099-B, not your year-end brokerage statement..."
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@PatriotSnail
@M_Yates_Az
@Rossputin
@matthewstoller
The TX AG who is a well-known radial, flag-buring communist, sued Cal-Maine Foods, Inc. for dramatically hiking egg prices during an emergency, i.e. COVID.
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@BayouBikeyBoi
It is that street in Manhattan that is spelled "Houston," but pronounced "HAUS-ton."
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@MJSANGIULIANO
Every pay period, try to set aside at least USD 200 to invest automatically.
You will thank yourself at age 36... and, especially, at age 66.
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@bhallcpa
Secondly, while you might not have control over federal marginal rates, you can very easily control state marginal rates.
A lot of people spend their working lives in, say, NY and contribute to 401k... to retire to FL, where there is no state income tax, for example.
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@mountainwesttax
@AtlantaTax
@LoganGrafTax
Of the dozens of dozens of "bookkeepers" I have dealt with over the years, I think I know possibly one that does not turn over crap work products.
I think her secret is... actually looking at the balance sheet after she is done with reconciliation?
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@peterreillycpa
It is a gimmick and not going to happen.
If they do exempt tips, everyone will restructure their compensation to be gratuity as opposed to income.
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@RobertMSterling
I was considering a PhD program so I can get all huffy when people call me "Max."
"Hey, hey. I didn't go to University of Phoenix Online for 10 years and spend, like, hundreds of dollars to be called 'Max.'
It is Dr. Blythe and don't you forget it!"
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@AtlantaTax
Does anyone else notice the irony of being worried about the impact of climate change... while booking an additional 20 - 30 round-trip flights per year?
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@thetradingbro
The withholding is just an estimate, based on what you put in the W-4 and can often times not be enough, especially with multiple jobs.
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@BennettSteinCPA
@patrickdichter
I get a lot of emails from accounting-firm brokers, trying to sell, basically, 1040 mills ("500 individual return with the average price per return of USD 178").
I tend to think those as practically unsellable.
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@snlester
@matthewstoller
In most of Europe, swipe fees are capped by legislation.
In the States, there does not seem to be much actual competition in terms of fees. Basically, it looks like a cartel.
So, we are resigned to banks levying a completely unnecessary tax on, well, everyone?
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@shawngorham
TurboTax charges USD 1,750 for entity returns. A state return will be an additional charge.
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@adammarkowitzEA
No worries.
As long as they spend the gift cards on actives related to pumpkin picking, it is all tax deductible AND not taxable compensation to employees...
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@IAmMikeRana
@RobertMSterling
They practically fill out themselves, what with 754 elections and all!
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@cbriancpa
I take pictures of the 7004 with the cert mail barcode and then archive that with the digital recipt the USPS emails you upon drop-off.
I don't really chase down if it was delivered or not: a reasonable person would assume the USPS did its job.
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@going_concern
10 years ago, we lost someone to a Big 4. They said all the low-level grunt work was outsourced to India.
I remember thinking it odd: how do you supervise if you have not done it yourself? Also, what do recent grads do, then?
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@nomanautomata
@mnolangray
Yeah, you kind of have to become a multimillionaire somewhere else... and then move to Santa Barbara.
For the local teachers, nurses, cops, firefighters... well, they are kind of out of luck.
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@MikeSyl36625988
Most "civilians" judge their tax guy by how much of a refund they get back and really don't know any better.
I see this as a teachable moment.
It sounds like he needs tax planning (and bookkeeping), as opposed to mere backwards-looking tax compliance.
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@idlette
@realEstateTrent
It is just, frankly, amazing that people comment so confidently on industries that they know nothing about...
The tell was "the tax code is cut and dry" comment.
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@MikeSyl36625988
Good thing the tax code and accounting is so much simpler, now!
Hardly need an accountant anymore!
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@money_cruncher
That is potentially huge for restaurants and retail, who have a lot of "soft" start-up costs prior to opening.
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@IraGilligan
Yeah, it is kind of triggering when a client is, like, "I am sorry I didn't upload the 1099-B. I have been 'so busy.'"
I am a tax accountant. In October.
...but tell me again how you slave been "so busy"?
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@theaspect
@shagbark_hick
@vatna_jokull
Factually wrong on the first point and beg to differ on the second point.
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