Bank Documents [18-Sept-2021] - Didn't learn a thing from the bankruptcy

putthejaypeegeedown said:

- YouTube

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.
youtu.be youtu.be

While I'm not sure if these are the only ones missing, I did manage to find this
Click to expand...
Sounds legit at any rate. I'll transcribe these later and update.

ReentryPhantom said:
I think the PNTNT is actually PATNT or maybe even PAT&T.
Click to expand...
Problem is, none of these make any sense.
 
  • Winner
  • Like
Reactions: Big Brown Schlub, Pizza Parker's Pizza Time and Piece of Peace
SaidNoOneEver said:
Does the leak line up with a $100k WWE Champions account though? I would say no. Maybe a $15-20k account. Some of the sperg detractors are just as bad with exaggeration as DSP is.
Click to expand...
There's a lot of expenses we know nothing about. DSP has been playing WWE Champions at least since when his account was discovered all the way back in 2018. Even then, the initial estimations were that his account was worth $40K. I don't think the bank information we have exactly covers the entire 3-year gap. Not only that, but the statements don't take into account transactions made using Paypal credit, since it doesn't involve the transfer of money from Phil's checking account. We have no idea how many tips he received during a stream, took a bathroom break, and pulled for Hogan with, because it doesn't show up on anything outside of Paypal's own records, which we would need access to his Paypal account to see.
 
  • Like
Reactions: FlappyBat
DSP's Tax Lawyer said:
Hello, sorry was busy for most of the day taking a CPA exam so I don't think I have full quotes to respond to but I will try and summarize everything as best I can since I did work at a firm that was similar size to Grass CPA (although not the same state).

First things first, DO NOT CONTACT THEM AT ALL, about anything Phil related. I doubt they are licensed by the PCAOB so the only people they would be legally forced to tell any info to is under a subpoena. Calling them just gives Phil the narrative that trolls are harassing him irl and we have touched enough poop already.

Second, normally with a small business like this, the accounting firm would want to be in charge of bookkeeping services so that the taxes are easier and they can consult based on business trends they notice. Now if the $297 for charges didn't already tip you off then Phil's basic nature should have told you that "He has a business degree dood and he can do that himself." So the accountants are probably coming at this somewhat blind but not dumb. They would require some sort of proof or backing as to where the expenses are coming from. I have had plenty of tax returns that I have filled out where we needed proof of a $15 dollar donation to goodwill before reporting it, so these guys who live and breathe small time tax returns would be all over him if he tried pawning off these thousands of dollars of charges they would instantly demand proof. $297 is not worth losing a CPA license over, trust me on this (getting the license is proving to be a year and a half of work and no social life).

Third, in order for Phil to even consider these as business expenses, he would need to play WWE Champions almost exclusively on stream. Right now, things I would consider business expenses he could write off would be the games he buys, his internet bill, electricity or its equivalent, and depreciation expenses on his computer, laptop, and whatever games he plays. But I doubt he is even getting the depreciation expense right since MACRS is a bitch to follow and it requires effort.

Fourth, creating an LLC is way too much time and money for Phil to ever do. He would need a registered agent in Washington, file a certificate of formation with the secretary of state in Washington, create an operating agreement (although its not needed for washington), and then get an EIN. On top of that, the LLC needs to fill out its own tax returns which means paying Grass more money for different tax returns and probably having them insist on doing Phil's bookkeeping as well. Which means more eyes on his finances, which he is paranoid of as we have seen, and more payments to something that isn't Doordash, booze, or WWE Champions.

If I missed anything or if there are other questions, I can try and respond best I can in between studying for REG and praying as hard as possible that I don't have to take AUD again in between this fun busy season
Click to expand...

Awesome post however I beg to differ that his CPA would catch these microtransactions. A $300 CPA isn't manually checking jack shit. All they care about is having some sort of receipt. Phil could easily just say it's a part of his stream, and they definitely aren't digging through his vid upload history to verify. Also I would bet almost anything the extent of his bookkeeping is plugging in shit into quickbooks online then giving them access to print reports. He uploads the receipt for the microtransaction, so they have everything they need.

Source: I'm a small business owner and deal with an outside CPA
 
  • Like
Reactions: Vivica A. Fox, Big Brown Schlub, Reckless Starfish and 2 others
Kosher Dill said:
Sounds legit at any rate. I'll transcribe these later and update.


Problem is, none of these make any sense.
Click to expand...
I was thinking maybe PAT&T was what prepaid AT&T transactions would appear as. But that still makes no sense either. I have no idea what it could be based on the frequency that he paid it, and the amounts were almost always different. He hasn't had a transaction with that entity since June though.
 
DSP is just a greedy tard with luck as a dump stat and with no impulse control or long term goals.

He would have lost all relevance a decade ago if people didn't autistically spam every corner of the internet with "Gout man bad" every time DSP missed a dodge in Dark Souls or said something dumb
 
  • Agree
  • Like
  • Dumb
Reactions: Vivica A. Fox, MoonRocker, Azuma Ninja and 8 others
yeeyee said:
Awesome post however I beg to differ that his CPA would catch these microtransactions. A $300 CPA isn't manually checking jack shit. All they care about is having some sort of receipt. Phil could easily just say it's a part of his stream, and they definitely aren't digging through his vid upload history to verify. Also I would bet almost anything the extent of his bookkeeping is plugging in shit into quickbooks online them giving them access to print reports. He uploads the receipt for the microtransaction, so they have everything they need.

Source: I'm a small business owner and deal with an outside CPA
Click to expand...
He could probably do that with some receipts every now and again but based on how massive his expenses are, not likely. Filing a fraudulent tax return gets your license revoked with no chance of getting it back and the head of the firm is the one signing off on everything. They don't have to verify his business expenses through watching the videos either. The reason I think they don't include any of this is that I don't think Phil uses quick books. I bet he sends bank statements to his accountants for them to fill out. And you can hear everything on those statements or just read them that the wonderful autists in this thread have transcribed. No way itunes expenses go under business expenses
 
  • Like
  • Informative
Reactions: Big Brown Schlub, Full Race Replay and yeeyee
DSP's Tax Lawyer said:
They would require some sort of proof or backing as to where the expenses are coming from. I have had plenty of tax returns that I have filled out where we needed proof of a $15 dollar donation to goodwill before reporting it, so these guys who live and breathe small time tax returns would be all over him if he tried pawning off these thousands of dollars of charges they would instantly demand proof. $297 is not worth losing a CPA license over, trust me on this (getting the license is proving to be a year and a half of work and no social life).
Click to expand...
Many people went round and round debating that for months in the bankruptcy thread a couple years ago. The bottom line is that he did it and someone signed off on it anyway.

My theory is that "It's a video game and I play video games for a living as a broadcast entertainer" is such a new and unique profession that everybody just said fuck it. I have first-hand experience with television and movie productions that wrote off hundreds of thousands of dollars for props and sets used in scenes that never even appeared in the final cut. All he'd have to say is that he was working on a video series that ended up not being good enough for publication and then you get to prove that he didn't.
 
  • Like
Reactions: Prince Lotor, Big Brown Schlub, JPG and 3 others
SaidNoOneEver said:
Many people went round and round debating that for months in the bankruptcy thread a couple years ago. The bottom line is that he did it and someone signed off on it anyway.

My theory is that "It's a video game and I play video games for a living as a broadcast entertainer" is such a new and unique profession that everybody just said fuck it. I have first-hand experience with television and movie productions that wrote off hundreds of thousands of dollars for props and sets used in scenes that never even appeared in the final cut. All he'd have to say is that he was working on a video series that ended up not being good enough for publication and then you get to prove that he didn't.
Click to expand...
Oh with his bankruptcy that is something he could do. The creditors would have to be the ones to challenge him there, not the bankruptcy judge. I am fairly certain that for taxes he just prints out, or something along those lines, his bank statements and his paypal statements along with the 1099 that Youtube and/or Twitch would send him along with like a mortgage statement and a few other statements and just deliver that to the CPA firm. I think Phil is too lazy to make an actual income statement, retained earnings, and balance sheet. I also think he is too stupid to know what those are as well.

Which is why if you are reading this Phil, you should hire me and @Piece of Peace to do your bookkeeping and taxes for you. I for one would do it for much cheaper than Grass CPA firm. Not sure how much Piece charges but we would love to legally see all your financial information in exchange for helping you. (Let me know if you are down Piece and we can discuss payment options :story:
 
  • Like
  • Feels
Reactions: Big Brown Schlub, Full Race Replay, Cardef1121 and 3 others
SaidNoOneEver said:
Many people went round and round debating that for months in the bankruptcy thread a couple years ago. The bottom line is that he did it and someone signed off on it anyway.

My theory is that "It's a video game and I play video games for a living as a broadcast entertainer" is such a new and unique profession that everybody just said fuck it. I have first-hand experience with television and movie productions that wrote off hundreds of thousands of dollars for props and sets used in scenes that never even appeared in the final cut. All he'd have to say is that he was working on a video series that ended up not being good enough for publication and then you get to prove that he didn't.
Click to expand...

Just want to point out, buying props on speculation that were never used is a lot different than buying props that you specifically intend to take directly to your house for personal use. Which is what phil did here.
 
  • Like
Reactions: Big Brown Schlub and myone
SaidNoOneEver said:
Does the leak line up with a $100k WWE Champions account though? I would say no. Maybe a $15-20k account. Some of the sperg detractors are just as bad with exaggeration as DSP is.
Click to expand...
So the account had close to $40-$50k sunk into it to be at the VIP level it was at when it was discovered. These games have a VIP level that a minimum amount of spending is required to reach. Phil's account was estimated to have spent between 40-50 grand to reach the VIP level it was at.

His spending has continued at an accelerated rate since. He has spent close to $21,000* on it this year alone from Feb-current Sept date. It was at the 40-50 grand level 3 years ago. You do the math.

EDIT: PieceofPeace's documents say 21k, not 9k.
 
Last edited:
  • Like
  • Informative
Reactions: Vivica A. Fox, MoonRocker, Azuma Ninja and 3 others
SaidNoOneEver said:
You are 100% correct and we all know that he did that.

Now prove that he did that.
Click to expand...

What more proof do you need than $3k+/month worth of itunes/whatever microtransaction expenses that are not being used on his stream? It's not my job or even desire to "prove" it, I just feel bad for the CPA who is likely signing off on this shit as a business expense who is going to get railed when phil is eventually caught
 
  • Like
Reactions: myone
The best lesson you can ever learn from Mobile gaming is that it's never there forever, and a loss is greater monetarily than just content, I looked back at the Hill Climb game and thought "shit, muhfucka just spent £20 in a week"

All to climb a hill I will never get down from

Except that hill Phil has to climb over goes into a sheer crash and burn drop all the way into disappearing from the face of reality and all because someone didn't carry on the AutisticVestStreak

I do not miss F2P mobile at all!
 
  • Like
  • Agree
Reactions: Big Brown Schlub and Full Race Replay
DSP's Tax Lawyer said:
Which is why if you are reading this Phil, you should hire me and @Piece of Peace to do your bookkeeping and taxes for you. I for one would do it for much cheaper than Grass CPA firm. Not sure how much Piece charges but we would love to legally see all your financial information in exchange for helping you. (Let me know if you are down Piece and we can discuss payment options :story:
Click to expand...

As Phil's Tax guy, I advise against this.
 
  • Like
Reactions: Radical Goodspeed
yeeyee said:
What more proof do you need than $3k+/month worth of itunes/whatever microtransaction expenses that are not being used on his stream? It's not my job or even desire to "prove" it, I just feel bad for the CPA who is likely signing off on this shit as a business expense who is going to get railed when phil is eventually caught
Click to expand...
It doesn't necessarily have to appear on-stream to be a business expense. I'm not arguing this any more. DSP has had the IRS crawling up his ass for years yet he hasn't been charged and nobody lost their license. Because it would be near-impossible to prove that intent. Ho9w things look is not proof, no matter how damning things look. The only time it does happen is when somebody confesses or a conversation discussing it is recorded.
 
You must log in or register to reply here.
Back