Stock Market/Investing/Day Trading/Speculative Trading Thread

[Faux Sean Callahan]

I wonder if quoting the POTUS will work in tax court?

https://www.cnbc.com/amp/2021/04/28...-taxes-on-anyone-making-less-than-400000.html

@Jim14510 thoughts?

 

[God is a Husker]

@Jim14510 thoughts?

You have no idea how bad you just rustled this former tax attorney by asking a CPA.


No offense @Jim14510

 

[Jim14510]

You have no idea how bad you just rustled this former tax attorney by asking a CPA.


No offense @Jim14510

Lol I was going to respond that you'd know better what would and wouldn't work in tax court.

On a side note I read that all but the bottom 20% would see a tax increase.

 

[Faux Sean Callahan]

You have no idea how bad you just rustled this former tax attorney by asking a CPA.


No offense @Jim14510

TBF I didn't know you were a tax attorney

 

[God is a Husker]

TBF I didn't know you were a tax attorney

FORMER


Free as a Bird now

 

[Jim14510]

I honestly barely pay attention to this shit before it's finalized. The tax bills change so much from start to finish it just gets confusing if you try to follow along the way too much. You might plan for something that doesn't end up getting included and completely fuck yourself.

 

[Faux Sean Callahan]

I honestly barely pay attention to this shit before it's finalized. The tax bills change so much from start to finish it just gets confusing if you try to follow along the way too much. You might plan for something that doesn't end up getting included and completely fuck yourself.

I think some radical ideas get put in just for bargaining chips to take out later.

For example taking out the step up in basis

 

[Jim14510]

On a side note I read that all but the bottom 20% would see a tax increase.

It's actually a decrease of after tax income not tax increase. That's factoring in job loss and decreased wages.

 

[God is a Husker]

I think some radical ideas get put in just for bargaining chips to take out later.

For example taking out the step up in basis

Taking out stepped up basis and trying to tax unrealized gains were so insane that I knew they would never see the light of day.


It was amazing and hilarious watching people who don’t know what they are talking about discuss these 2 things for about a month.

 

[Toe]

You have no idea how bad you just rustled this former tax attorney by asking a CPA.


No offense @Jim14510

I used to do tech support for some tax prep software, ask me anything!

(DIsclosure: I worked solely on the tech side, like getting the software to actually run. I know fuck all about taxes.)

 

[Jim14510]

I used to do tech support for some tax prep software, ask me anything!

(DIsclosure: I worked solely on the tech side, like getting the software to actually run. I know fuck all about taxes.)

Which software?

 

[Faux Sean Callahan]

Anybody get in here?



@Savedatmoney

 

[Savedatmoney]

Anybody get in here?



@Savedatmoney

 

[God is a Husker]

Which software?

First thing I thought too.


If it’s Drake I have a bone from 2016 season to pick with you

 

[Jim14510]

First thing I thought too.


If it’s Drake I have a bone from 2016 season to pick with you

If its Ultra Tax I'm gonna go off

 

[Faux Sean Callahan]

100 bill for a company with no sales is dumb.

F is 80 bil... It at least has sales

 

[God is a Husker]

*im too drunk for this thread

 

[Toe]

Which software?

First thing I thought too.


If it’s Drake I have a bone from 2016 season to pick with you

ProSystem Fx.

 

[Faux Sean Callahan]

Going to be a wild week

 

[LoudHogRider]

Going to be a wild week

Looks like big retail’s week to set expectations for the upcoming holiday season. Here’s where the “supply chain” breakdowns may toss a wet blanket on things. 🤞