Dave

Tax Guy, UFC fan

[Dave @dave_acct]

Does anybody else find the K2 and K3 to be the most annoying forms ever?
#TaxTwitter

[Dave @dave_acct]

@PicturesFoIder The round was not over…

[Dave @dave_acct]

I had an intern working on a client of mine. The client had an account called “Kickbacks”

The intern asked if the client was throwing parties

I almost died laughing

#TaxTwitter

[Dave @dave_acct]

@Cry1703

[Dave @dave_acct]

Any other tax pros feeling this 3/15 deadline? This has been the worst one in YEARS. Wishing everybody the best. Just a few more days🙏

#taxtwittter

[Dave @dave_acct]

@BuffCpa Very nice. I have done the same with majority of clients. I just have a few rather large returns for this client that does not even want to hear the word extension..

[Dave @dave_acct]

Intern walks into the kitchen:

“I lost $1,200 today in option trades”

This dude acted as if losing $1,200 was a flex. Congrats intern, you buy options.

#taxtwitter

[Dave @dave_acct]

Just went through ALL(only) 4 years of tax returns, and found out they donated a whopping $900 total to direct, actionable cancer supporting causes. The rest of the money went to compensation, and other expenses including travel, conferences, insurance, and other various expenses

[Dave @dave_acct]

Just found another “Non Profit” which was formed in 2017 in which Joe Biden was Co-Chair.

The name is Biden Cancer Initiative Inc.

They raised $4 MILLION in 2017.

Guess how much of that money went to direct, actionable causes related to cancer research?

ZERO. ZERO. ZERO. $0

[Dave @dave_acct]

All of this is public information too, available on IRS website —-> Tax Exemption Organization Search. I recommend using before picking an organization to donate to see what amount of proceeds actually go to direct, actionable causes.
#TaxTwitter

[Dave @dave_acct]

BIDEN FOUNDATION (non-profit):

RAISED OVER 10M in 4 years

3.1M paid in compensation to employees

DONATED UNDER 3.2M to charitable organizations, WITH ONLY 846K of that being to non profits that Biden did not associate with.

They shut down in 2020. Watch where you donate.

[Dave @dave_acct]

Recently, I’ve had an obsession with going through various nonprofit tax returns to see how much of their donations actually go to good causes and it leaves me astonished every time. It takes all of my strength to not expose some of these “nonprofits” on tik tok #taxtwitter

[Dave @dave_acct]

Okay, i got the Remarkable and i am a HUGE FAN. I highly recommend. Especially if you are anything like me and absolutely cover your desk with sticky notes
#TaxTwitter

[Dave @dave_acct]

@LTI_finance One of the most powerful tools to become extremely wealthy? I am not arguing against a ROTH IRA, but this investment vehicle alone can not independently set somebody up for retirement. Im a fan of the ROTH IRA, but i do think this is a bit exaggerated

[Dave @dave_acct]

LISTEN TO WAKA FLAKA ON LLC’S #TikTok https://t.co/px4SNnlPFe

[Dave @dave_acct]

#TaxTwitter

[Dave @dave_acct]

Backstory: Client invested 300k in a business and took losses for two years. Finally receives 300k back this year.

Client: Why am i paying taxes? Its only capital

Me: because thats not how it works

Client: Do you not understand that they are just giving me the capital back?

[Dave @dave_acct]

Check out ChefDuke's video! #TikTok https://t.co/WzIk9lU3a1

[Dave @dave_acct]

Check out ChefDuke's video! #TikTok https://t.co/ztbn6OK9pN

[Dave @dave_acct]

#TaxTwitter update

The firm i have been with the past year (just me and owner) has been sold so i am back to the public accounting grind today😈🫨

Wish me luck!!! Videos and content will be coming soon. Also, does anybody have suggestions on which CPA section to take first??