Investing General Discussion

Sanrith Descartes · Feb 9, 2022

Kiroy said:
What a fucking piece of propaganda. Most of it went to "business owners" of fictitious businesses "owned" by a foreign scammers/agents, and then sent overseas to enemy countries. The small piece we got kept our employees payed for three months where we would have otherwise furloughed them because the state made it illegal for us to conduct business.

And it's all a drop in the bucket compared to state and federal unemployment payment scams.

There isn't a single answer. For us, we had a 18 month backlog of work so laying people off wasn't in the cards for us. The big challenge was getting to keep coming when they could sit on their asses at home making unemployment + the bonus $600. Some states pay shitty unemployment so it wasn't as big an issue, NY is quite generous though with it.

And yes the fraud was rampant, but we all knew it would be and said so in various threads including this one.

Mist · Feb 9, 2022

Kiroy said:
You're a fucking idiot if you're a 5%-1% taxpayer and don't use any means necessary to get your money back.

At some point it's just inefficient.

Would you pay an account 2k to get an extra 2.1k back?

I take advantage of whatever tax-incentivized retirement/healthcare stuff is available and then I just punch in the numbers and pay whatever TurboTax says I owe.

PS: Is there something easier than TurboTax? I fucking hate that company.

Sanrith Descartes · Feb 9, 2022

Mist said:
At some point it's just inefficient.

Would you pay an account 2k to get an extra 2.1k back?

I take advantage of whatever tax-incentivized retirement/healthcare stuff is available and then I just punch in the numbers and pay whatever TurboTax says I owe.

PS: Is there something easier than TurboTax? I fucking hate that company.

FreeTax USA

Kiroy · Feb 9, 2022

Mist said:
Not true.

PPP cost more than twice what the total cost of all the unemployment expansions cost put together.

federal AND state combined

CA shit out like 125b alone, most of it fraud

Kiroy · Feb 9, 2022

Mist said:
PS: Is there something easier than TurboTax? I fucking hate that company.

ya it's called excel and not being an idiot

Mist · Feb 9, 2022

Kiroy said:
ya it's called excel and not being an idiot

You can't *file* your taxes in Excel. You can't just send the IRS a .xlsx.

Sanrith Descartes · Feb 9, 2022

Mist said:
At some point it's just inefficient.

Would you pay an account 2k to get an extra 2.1k back?

I take advantage of whatever tax-incentivized retirement/healthcare stuff is available and then I just punch in the numbers and pay whatever TurboTax says I owe.

PS: Is there something easier than TurboTax? I fucking hate that company.

You don't pay an accountant 2k. A return with a single schedule C (for an LLC for example) is about $850 max depending on where you live. You can figure $200-$250 plus a fee for each additional form beyond the 1040. For a Joe blow tax payer you can do it yourself. Without a business/trust/some other shit paying someone when you don't itemize makes little sense unless you have a room temperature IQ.

Sanrith Descartes · Feb 9, 2022

I should have clarified. Some states their state taxes are much more fucked up to calculate than the Fed. NY is one. If you live in a no state income tax state, you have zero reason to pay someone for a simple 1040.

Khane · Feb 9, 2022

Such blowhards on this forum. Cant even see through their own bullshit. Sanrith you and I should get a drink next time I visit LI because I think we would actually get along but I dont understand why you say some of the things you do about taking advantage of the tax system to that extent. Three businesses? Kiroy, you need to just grow up and start actually thinking for yourself.

Kiroy · Feb 9, 2022

Mist said:
You can't *file* your taxes in Excel. You can't just send the IRS a .xlsx.

are you serious?

use excel, calculate your taxes, fill in boxes on forms, file

Sanrith Descartes · Feb 9, 2022

Sanrith Descartes · Feb 9, 2022

Kiroy said:
are you serious?

use excel, calculate your taxes, fill in boxes on forms, file

Or use FreeTax USA and electronically file at the end. It's a good platform.

Khane · Feb 9, 2022

Nobody called you a liar. You were only ever called a hypocrite

Khane · Feb 9, 2022

Sanrith Descartes said:
Or use FreeTax USA and electronically file at the end. It's a good platform.

Excel for taxes. Talk about needless extraneous work.

Excel.... boy oh boy

Sanrith Descartes · Feb 9, 2022

Sanrith Descartes · Feb 9, 2022

Tmac · Feb 9, 2022

I just gotta say lol @ excel.

Fogel · Feb 9, 2022

Excel, consultants, turbo tax? This is how real men do their taxes!

Mist · Feb 9, 2022

Tmac said:
I just gotta say lol @ excel.

I'm pretty sure

Kiroy is secretly a poor.

wormie · Feb 9, 2022

The real question is, should I hold Wynn into earnings?

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