Troy Steele

[Troy Steele @SteeleTroy5]

@Broncos @AqibTalib21 @buckybucholz dibs

[Denver Broncos @Broncos]

.@AqibTalib21 left this on set. ✍️

Like + comment + RT for a chance to win this signed #SB50 chain!

[Daily Tax Memes @DailyTaxMemes]

Tax pros when Busy SZN just rolls right into Notice SZN

[Troy Steele @SteeleTroy5]

@Broncos @buckybucholz

[Denver Broncos @Broncos]

#BroncosCountry, your chance to attend Night of Champions is here!

RT + comment to enter to win VIP tickets — that include a meet and greet with Peyton Manning — at the legendary #SB50 reunion event at the Paramount Theatre on April 22 ⤵️

[San Francisco 49ers @49ers]

It's all in the cards 🃏

These @Topps exclusive NFL trading cards could be yours!

RT for your chance to win. Official rules: https://t.co/rf2gjm2lAC

[TB4A.com @TheBig4Tweets]

happy 4/15 to those that celebrate

[Daily Tax Memes @DailyTaxMemes]

Looking forward to April 16, you guys

[Denver Broncos @Broncos]

🚨 Giveaway alert 🚨

RT + like for a chance to win a #BroncosCountry mural poster ⬇️

[Troy Steele @SteeleTroy5]

@CaydenWMcLaugh Invite

[Nate Sosa @natesosa_CPA]

Client: Can I write off my Ferrari?

Tax Pro: UMMM do you have a Ferrari?

Client: I have an LLC.

Tax Pro: That’s not what I asked.

Client: …okay how can I deduct a Ferrari?

Tax Pro: so we have to ask first ‘is this for a trade or business’. “Trade or business” is mentioned 800 times in the tax code. You know how many times it’s actually defined?

Client: A lot?

Tax Pro: Zero. So we go to case law. Specifically a Supreme Court case about a full-time dog track gambler named Groetzinger.

Client: Can I get this action on Kalshi?

Tax Pro: sigh, okay this guy had no other job. Showed up to the dog tracks every single day, tried to make money gambling on dogs. IRS said he wasn’t running a business. Groetzinger said “takes two to gamble.”

Client: Who won?

Tax Pro: Groetzinger. Courts ruled that an activity must be conducted with continuity, regularity, and primarily for profit to qualify as a trade or business. He showed up every day trying to make money. That was enough.

Client: Okay so I show up to work every day, I definitely have a trade or business.

Tax Pro: Good. But that’s just hurdle one. Now we have to talk about whether the Ferrari expense is “ordinary and necessary.”

Client: Ordinary meaning what?

Tax Pro: Common and customary for your type of business. This is where it gets interesting. Take the Dancer case versus the Gillam case.

Client: Never heard of either.

Tax Pro: Dancer traveled for work, got into a car accident, tried to deduct the negligence claim as a business expense because he was traveling for work when it happened.

Client: Did it work?
Tax Pro: Yes. Travel is ordinary for his business, the accident happened in the course of that travel, so it was ordinary.

Client: Okay that makes sense.

Tax Pro: Now Gillam. Also traveling for work. Also tried to deduct something that happened during work travel.

Client: Also worked?
Tax Pro: Gillam assaulted someone on the plane.

Client: Maybe it was ‘necesssary’

Tax Pro: Tax court said assaulting people is not ordinary conduct for your business. Probably. Unless

Client: Okay okay. So ordinary means normal for your industry. No Ferrari then. What’s “necessary” mean?

Tax Pro: Helpful and appropriate to the business. And this is where people really get themselves in trouble. Take the case of Robert Lee Henry.

Client: Who’s that?

Tax Pro: A CPA. Owned a yacht. Flew a flag off the back of it that just said “1040.”

Client: …that’s incredible.

Tax Pro: He thought so too. Tried to deduct every yacht expense because hey — the flag says 1040, it’s obviously for the tax business.

Client: Did it work?

Tax Pro: Tax court looked at him and said show us how this yacht is necessary to the conduct of your profession. Not helpful. Not good for vibes. Necessary.

Client: And he couldn’t?

Tax Pro: He could not. The flag said 1040. The boat said pleasure craft.

Client: Okay okay so no Ferrari.

Tax Pro: No to the Ferrari.

Client: but a truck, its ordinary for my industry, I use it for client meetings, and it protects my brand image.

Tax Pro: Is driving a truck to client meetings common and customary in your industry?

Client: Well yeah I’ll ust it help carry supplies to the property and stuff

Tax Pro: Alright that works out then

Client: Can it be… a nice truck? Ooh wait can I use this 179 thing on it?

Tax Pro: I mean also yes… but we have to talk about other rules there

Client: *dials phone Hey Jim, yeah Im coming to your dealership right now to buy that Ford Raptor… Yeah I dont have cash so can we finance that…

Tax Pro: *sighs*

[Jaxson @jaxsontoschi]

@benbbaldwin 49ers faced prime Mahomes twice and the Seahawks and rams get to face the 2 worst Super Bowl teams of the last 20 years. Must be nice.

[Chicago Bulls @chicagobulls]

RT for a chance to win this SIGNED D-Rose jersey 🌹

[JJ Zachariason @LateRoundQB]

How bad were the Eagles last week though

[Troy Steele @SteeleTroy5]

Sigh…

[RedditFCS @Reddit_FCS]

2024 FCS Champion: NDSU
2025 playoffs: eliminated in second round after first round bye

2024 FBS Champion: Ohio State
2025 playoffs: eliminated in second round after first round bye

[Troy Steele @SteeleTroy5]

Do the refs even have flags?

[Troy Steele @SteeleTroy5]

@Broncos @TheZALLEN44 @buckybucholz

[Denver Broncos @Broncos]

🚨 Giveaway 🚨

RT + comment for a chance to win this @TheZALLEN44 mini helmet!

[StartKyleOrton @startkyIeorton]

The Bears defense is 11 cats and Shanahan has a big fucking laser pointer

[Denver Broncos @Broncos]

While we wait for #DENvsKC ...

RT for your chance to win a signed white mini helmet from @eazyengram! 🎁