Posts by Timothy Morgan38

Daniel Castillo12 said:Honestly, the sheer incompetence and indecision from our economic policymakers is going to drive us into a deficit regardless.
Look, even a child understands the math: if you cut corporate profits in half with taxes, you aren't collecting more revenue by raising the rate—you’re just shrinking the pool you're drawing from.
Eventually, you end up with a tiny fraction of the actual economic activity.
Instead of supporting the companies that are actually making money or providing relief to those struggling to stay afloat,
we act like this. In my experience, we used to keep our earnings within the business, focusing on reinvesting and building up healthy capital to strengthen our assets.
We only paid out small dividends here and there.
And now, the solution is to punish us by taking 40%—or whatever ridiculous number they settle on—of everything? If we want to pay out from pure profit, they want to take a massive cut? It's madness.

I’m thinking along those same lines... over the last 20 years, we haven't paid out a single cent of profit; everything stayed within the company...

Maybe I’m just being foolish—just like my old man was when he ran the place—but there is a silver lining here... it means I don't carry a dime of debt on my back and I don't owe anyone a single thing. My accounts payable is at 0,00, my tax liability to the IRS is 0,00, and I plan on keeping it that way...

As for that whole re-recording issue, you can find the details in RRIF number 9...

Daniel Castillo12 said:I couldn't agree more.
Whenever an employer asks me about potential transactions, I give them the same response: it all boils down to which IRS auditor shows up at your door—and what their actual agenda is. It’s a toss-up between someone just looking to pad the government's pockets with fines or someone actually digging to find significant irregularities.
I don't know what to say; I'm honestly starting to feel a sense of dread about continuing this line of work.

I’m right there with you. Lately, I’ve been seriously considering just throwing in the towel, finding a steady 9-to-5 somewhere else, and just letting life happen wherever it may...

The sheer volume of contradictory federal regulations and conflicting agency guidelines is staggering. At this point, I don't think there's a single expert in the entire country who could follow every single syllable to the letter without tripping up...

It all just boils down to how the auditors decide to "interpret" the rules on any given day. If you're lucky, you'll pass; if not, well...

And honestly? I suspect that’s the whole point. Make the red tape so tangled and complex that the inspectors can exercise whatever level of discretion they feel like that morning...

Daniel Castillo12 said:That sweet lady (probably Gertrude) didn't bother to find any way to refute it, even by using bold print to warn us...👎

It wasn't Gertrude, but someone else who was busy trashing Gertrude for putting that information out there... I can't recall the name...

Daniel Castillo12 said:I could hear the sarcasm and irony in your voice, but honestly, I'm just furious—furious at these constant changes and this "witch hunt" mentality, especially since the actual culprits have already vanished into thin air..
Seriously, people, who is going to stick around and actually work? Who would even bother staying motivated with these kinds of burdens? What's the point?

Once they roll out this tax, people will just set up LLCs and run everything through those... at least for us little guys where it actually makes financial sense...

They are systematically dismantling everything in sight. They’ve already gutted small retail, crushed the independent contractors, and now they're slowly spreading the plague to every other industry...

As far as profit goes, though, there's a little trick...

During this year, you can reclassify retained earnings as a director's loan to the company... then, whenever you need the cash next year, you just pay yourself back via a loan repayment...

But you have to be careful to do the reclassification on a monthly basis—and not through $2000 if you want to avoid that crisis tax... They "quietly" explained this option in the latest issue of the FDIC bulletin... They didn't explicitly say, "Hey, do this and that," but if you read between the lines, they basically handed people a way to avoid paying via direct bank transfer...

If they implement the tax, this kind of reclassification will become taxable too... but at least before it kicks in, you can pull some money out "by the law" while still being... well, not exactly following the spirit of the law...

And if they do pass the tax, we'll see a repeat of what happened back in the early 2000s... You'll be able to count the companies on one hand that actually report any profit. Everyone will just pile up expenses until most of them end up in the red... the big players will pull their capital out of the country and leave local businesses begging for scraps, and so on...

Raymond Martinez10 said:Not subject to them now, maybe. But starting next year? "Big Brother" will have a clear view of every single checking account, savings account, and CD in the country.

That’s just one more reason why their whole move makes zero sense to me...

can't you just see it through the corporation???
They're gonna tax it... mark my words.

Look, I get it too... I'm just pointing out what they're claiming... look at that emoji laughing its head off at that explanation...😉

Sure, you can see it via the business, but you'd need an audit for that... and once cash is pulled out, there's no trail of who actually received it...

I just hope when those profits are paid out, they don't try to tax them for this current year when there was no tax... honestly, it wouldn't surprise me if they somehow pass a rule saying EVERYTHING gets taxed, regardless of when the profit was actually earned...

Good grief... I’m actually embarrassed. People would probably label me some corporate tycoon if they caught me sipping coffee with Rockefeller...😂

I’m honestly too embarrassed to even admit it...🤣

Robert Hernandez11 said:...forget all those links and analogies for a second—what actually matters to me is whether my paycheck is going to be bigger by about $67 this July or if I'm just getting screwed again...☕

...

It probably will, but don't quote me on it😂

Robert Hernandez11 said:You think... with this gastrointestinal... uh, mess...
☕

Yeah, but I’m not quite as concise as you are... 😂

Henry Edwards33 said:I knew it. I just knew a link or some kind of proof was eventually going to show up. 😍

🙂

Following the good old tradition, it’s just the usual "find this word in the article and swap it with that word" routine... nothing actually useful for real-world application... unfortunately...

Robert Hernandez11 said:Honestly, I’m just terrified because "analogy" is a foreign concept to this administration—it’s either total nonsense or some shady bullshit hidden in a PowerPoint presentation...🙄

I love cartoons too... 🙂
I watch them with my niece, and hey, maybe even a little bit myself... 🤦

An analogy??? Is that somehow related to digestion??????😂😂😂

Henry Edwards33 said:That one’s great; I actually cracked a smile watching it.

Yeah, it's good... my kid was practically rolling on the floor laughing all morning...

Robert Hernandez11 said:Does anyone in accounting actually know if that 2% emergency tax surcharge is going to hit our July paychecks?
(Every single person I’ve asked is clueless... they just keep saying "we're waiting for the official announcement from the White House"...😁)
Also, when exactly do those new tax rate changes kick in? Is that happening with the July payout too?🤷

If we look at how things went during the last round of tax hikes, the logic usually follows the payment date. If the money actually lands in your account in July, the tax should be applied... even if the work was technically done in June. It’s all about when the check clears...

Henry Edwards33 said:Which tickers are you watching? 😍

don Quixote... and before that, the legend of the last unicorn😂

Before that, Monsters, Inc. 😲

Henry Edwards33 said:Well, look who finally showed up. I’m sure you’ll have everyone lining up to listen to you now. 😍

The thing is, we aren't exactly used to this kind of freedom or casual back-and-forth. We were raised on the old-school American way: strict rules, rigid schedules, and total discipline. 🤣

Here I am, on my tenth day of forced vacation, just scrolling through some cartoons and waiting for someone to start an argument in the chat... 😂

They used to come wandering in too, until I finally put them in the right frames where they belong...

I mean—I was just waiting around... I had my home office set up so I was basically ready to go until about six-thirty... just sitting there watching cartoons with my kid...

Then at six-thirty, I head out to play a gig... and the deal was he’d show up once he finished up at the construction site or whatever...

Henry Edwards33 said:So, did you manage to check off everyone on the list?
How much longer are we going to be waiting for the post detailing how it all went down? 🙂

The jerk NEVER SHOWED UP!!!!!!!!!! I was waiting there until 6:30 PM...

I guess he thinks I'll just cool off over the weekend... but he clearly doesn't know me very well... by next week, I'm going to be even more pissed...😠

You forgot about calling the crew and getting that BBQ organized, of course using your work phone since the data plan is cheaper 🙂
...

And they would have said it was even as late as 4, right? 😂