Stock Market/Investing/Day Trading/Speculative Trading Thread

[Faux Sean Callahan]

Made a little on some $F calls today, cut it too early, still profits.
Made some on $FUBO puts as well.

In some $SNAP & $TWTR Puts for next week. Tank you dirty girls.

I don't know how I feel with the long weekend. Seems like a really high risk/reward time.

I hit nice on $DVN calls, $BAC calls this morning and some on $ABNB. Nothing crazy though.

 

[slattimer]

I don't know how I feel with the long weekend. Seems like a really high risk/reward time.

I hit nice on $DVN calls, $BAC calls this morning and some on $ABNB. Nothing crazy though.

Not in heavy. Probably more pissed that I missed the DKNG boat.

 

[Faux Sean Callahan]

 

[slattimer]

Pandemic of asshat politicians

 

[Faux Sean Callahan]

 

[Toe]

Do I fork over ninety bucks to TurboTax to automatically import my 1099 data, or just manually enter it into a freebie like Cash App Tax? 🤔

 

[slattimer]

Do I fork over ninety bucks to TurboTax to automatically import my 1099 data, or just manually enter it into a freebie like Cash App Tax? 🤔

Freetaxusa shits on all of those

 

[Toe]

@slattimer Is that the one that's a rebadged TaxSlayer?

Edit: Nope, it's MyFreeTaxes that's a free version of TaxSlayer.

 

[Jim14510]

Do I fork over ninety bucks to TurboTax to automatically import my 1099 data, or just manually enter it into a freebie like Cash App Tax? 🤔

Just manually enter the totals. They don't need all the detail.

 

[iruletheskool]

Freetaxusa shits on all of those

Been using it since my first job

 

[slattimer]

Been using it since my first job

Wife runs a childcare business, so I needed a better one to do our taxes. This one fit the bill. Last time we paid someone to do ours they screwed it up and didn't do the deductions right for food. Pissed me off. Have been using this one ever since. Easy, and saves your shit for year to year.

 

[Jim14510]

Wife runs a childcare business, so I needed a better one to do our taxes. This one fit the bill. Last time we paid someone to do ours they screwed it up and didn't do the deductions right for food. Pissed me off. Have been using this one ever since. Easy, and saves your shit for year to year.

How could they screw up the food deduction? It's literally this many lunches X $2.61 etc

 

[slattimer]

How could they screw up the food deduction? It's literally this many lunches X $2.61 etc

Yeah. I don’t know. Pissed me off. So I started doing it myself.

 

[Jim14510]

Yeah. I don’t know. Pissed me off. So I started doing it myself.

Certainly a wise choice to take it away from that person.

 

[Toe]

I decided to try out both Cash App Taxes and FreeTaxUSA. The numbers came out the same, so I filed with Cash App Taxes to save fifteen bucks. 🤷‍♂️

I'll give a mini review of Cash App Taxes. First off, you have to download Cash App onto your phone to use it. That feels kinda stupid, but you don't actually have to link a bank account as if you were going to use Cash App normally, and they effectively use it as a 2FA system, so I can forgive that.

The other thing that stood out to me is that it's a very front-loaded process. There's an initial screen (screenshot below) where you check off a list of things that apply to you. This screen sets up pretty much everything you see beyond that point. When I've used stuff like TurboTax or FreeTaxUSA, you end up being taken through a lot of screens for special credits and situations that are like "Does any of this apply to you?" (nope).

Cash App Taxes just skips all of that if you didn't select it on the initial screen. On one hand, it speeds up the process because you don't have to click through so many useless pages. On the other hand, if you missed something on that that initial page, you might be scratching your head about where to enter something, or maybe miss a certain credit that applies to you. So you kinda have to read that screen carefully, and check anything that you think might apply to you.

Other than that, it seemed fine to me. It supports most forms, though I couldn't say how well it handles more complex issues like slattimer's self-employment stuff. (My mom used to run a childcare business, too, and I remember my dad saying what a pain that was to file, back in the pen-and-paper days.) Sounds like its biggest limitation is that it doesn't support multi-state returns, though apparently future versions will.

 

[Faux Sean Callahan]

excuse me while I go throw up

 

[Jim14510]

excuse me while I go throw up

How much you want to bet they don't? They'll get through the first 3 or 4 and market will react and they'll stop.

 

[Faux Sean Callahan]

How much you want to bet they don't? They'll get through the first 3 or 4 and market will react and they'll stop.

This is what I would expect would happen.

Which JPM should know that.

Basically what happened in 2018 IIRC. They were raising rates and inverted the yield curve which caused a freak out.

 

[slattimer]

I decided to try out both Cash App Taxes and FreeTaxUSA. The numbers came out the same, so I filed with Cash App Taxes to save fifteen bucks. 🤷‍♂️

I'll give a mini review of Cash App Taxes. First off, you have to download Cash App onto your phone to use it. That feels kinda stupid, but you don't actually have to link a bank account as if you were going to use Cash App normally, and they effectively use it as a 2FA system, so I can forgive that.

The other thing that stood out to me is that it's a very front-loaded process. There's an initial screen (screenshot below) where you check off a list of things that apply to you. This screen sets up pretty much everything you see beyond that point. When I've used stuff like TurboTax or FreeTaxUSA, you end up being taken through a lot of screens for special credits and situations that are like "Does any of this apply to you?" (nope).

Cash App Taxes just skips all of that if you didn't select it on the initial screen. On one hand, it speeds up the process because you don't have to click through so many useless pages. On the other hand, if you missed something on that that initial page, you might be scratching your head about where to enter something, or maybe miss a certain credit that applies to you. So you kinda have to read that screen carefully, and check anything that you think might apply to you.

Other than that, it seemed fine to me. It supports most forms, though I couldn't say how well it handles more complex issues like slattimer's self-employment stuff. (My mom used to run a childcare business, too, and I remember my dad saying what a pain that was to file, back in the pen-and-paper days.) Sounds like its biggest limitation is that it doesn't support multi-state returns, though apparently future versions will.

That's why I've stayed with freetaxusa, haven't checked out the cashapp one, I have cashapp, so maybe I should check it out. But the amount of deductions and calculations for childcare can be a pain in the butt. But it made it pretty easy for me.

 

[Faux Sean Callahan]