DSP's Loan & Savings Company

[johnny5150]

Looks like phil will be massive beg mode in tomorrow stream.

So far he hasn't gotten any anonymous $1000 donations like he did in December.

 

[WeeblesWobble]

How much were those plane tickets to fly Kat out last year? He already admitted that she didn't make much money and has a lot of debt. Doubt she spent the money to go see him.

How many viewers did he have on his birthday stream? "Some things are more important than money, real talk."

How much did he pay for all the Christmas decorations?

How much is he paying for his new car?

How much for those surround sound headphones he just had to have?

How much is he paying for a house he hasn't even seen in years?

Phil and his fans kept saying, "This was only a hundred or so, this was only a couple hundred" but nickels and dimes make dollars and a couple hundred dollars here and there over the course of 52 weeks means thousands of dollars eventually.

Seriously Phil, eat a dick. This guy has been tossing money like he's a rapper or something and now Uncle Sam is coming for his slice. He called people trolls and explain away the questions about his bad spending habits. He'll survive some way, but I have no sympathy about his sob story. Phil isn't some guy who had a bad run of luck. His luck has actually been pretty fucking good to be honest.

 

[samovski]

I'm looking forward to his next stream. He's gonna either lay it on very thick hoping for a mysterious benefactor to appear and just drop a well timed 4k in his lap. OR he's gonna start laying the ground for his next fundraiser. Either way, whatever he says won't be interesting really. What I'm looking forward to is his chat. We'll finally see how many mongs live there. QueanSwagginz will no doubt swallow whatever dick Phil deigns to give.

His viewers will have to show their true colors. Phils little piggy banks or people with lives to lead and futures to work towards. I hope, with everything I have that there's a mass exodus in his chat. Something to prove that some of them have brains. I refuse to believe that they're all this stupid.

 

[gobbogobb]

Sure, but you could ballpark his income based on owing $4k for the first quarter too. The state business tax is the one blowing my mind, since that's apparently ONLY for 2017.

Not without knowing his deductions. You could assume standard but your calcualtions would be off by a significant amount probably.

 

[JustFuckinaDude]

Wait wait wait wait wait...

He said $5K for his 2017 state taxes, and that he doesn't know how much his unpaid taxes for years past is yet. Did DSP make fucking $350 thousand dollars in 2017?

If I'm reading the Tweet correctly, that's including the 1K for the attorney, so let's give it to him and assume he paid the 4k as he claims. That works out to roughly $260,000 (260,000*.015=4050) of taxable income. Now, if I'm understanding everything correctly...

Fuck. This. Guy.

I can have some sympathy on a taxpayer level, I struggle sometimes too. But I'm sure most of us live quite comfortably on far less than that.

 

[gobbogobb]

He's acting like he's never filed taxes before to be frank.

Nigga you file taxes once a year and estimate your quarterly payments. This is basic business knowledge. You know how this shit works.

So we have either a tax evader or a really dumb liar. Irony is they're the same thing, only the motive changes.

 

[carolburnett]

Wait wait wait wait wait...

He said $5K for his 2017 state taxes, and that he doesn't know how much his unpaid taxes for years past is yet. Did DSP make fucking $350 thousand dollars in 2017?

Wait wait wait. Let's all settle down he said “So far, those State Business taxes I had to pay in January, [the back taxes] plus the attorney fees I’ve already paid to resolve that situation, have cost me around $5k.” I’m bad at math but he had 3 years of back taxes owed right? If the attorney cost about 1k and there would be back taxes owed to Washington…so if he made generously 100,000 a year for 3 years as some of us have speculated it would be 4500 without fees at the 1.5% tax rate for that state. Now it could have been a little more or less depending on whether the lawyer was able to knock out the associated late fees with it, but if the lawyer knocked it out that would put him at 5500 for the lawyer. That is probably more or less where it is, depending on the above but he definitely makes anywhere between 90-100k a year which is so fucking gross.

I still don’t know about his estimated payment shit, it sounds like he’s trying to make everyone pay him for both state and federal taxes every quarter plus some buffer for bills tbh. Cause lol how do 3 years of back taxes equal to what you would owe for 3 months of a single year? They don’t Phil. He just likes that 4k number to cover his basic bills and taxes.

I think 4k is a real number for one thing and he keeps repeating it's necessity to pay for a lot of other things, no matter how much those actual amounts are. If this is his real situation, whoo boy is he fucked. Take the L on the house Phil, for crying out loud.

Edit: Maybe the reason he's also just saying 4k for each quarter simply because that was what owed for the backtaxes - but more importantly he was able to raise it for the beggathon. People called it - 4k would become Phil's new normal.

 

[Haunter]

How much did he pay for all the Christmas decorations?

It's stupid, but I actually looked into it when he put up the 2017 Christmas decorations video (he gives the names of the decorations and the store they came from, so it wasn't exactly strenuous).

It was a lot of little things about $10 each with a hand full of bigger items, plus some outdoor decorations he posted on Twitter. All in all, it probably amounted to around $150.

(What made all this spending worth investigating was his statement near the beginning of the video. He pans over his mantle, crammed with a collection of scented candles, and remarks that he would buy a new one every year. He follows this with an explanation of how he wishes he could have bought another candle, but unfortunately, he didn't have the money for it).

 

[neger psykolog]

If I'm reading the Tweet correctly, that's including the 1K for the attorney, so let's give it to him and assume he paid the 4k as he claims. That works out to roughly $260,000 (260,000*.015=4050) of taxable income. Now, if I'm understanding everything correctly...

Fuck. This. Guy.

I can have some sympathy on a taxpayer level, I struggle sometimes too. But I'm sure most of us live quite comfortably on far less than that.

The quarterly federal tax payments are not equal or standard. They are dependent on how much money he makes.

As a self-employed person he also has to make specific payments for things like mandatory health insurance and some other shit.

Simply put:
Its very easy to try and form ideas from what information DSP gives out regarding his tax situation, however actually knowing the 100% truth is only really possible if you have all of the information and not just snippets.

 

[JustFuckinaDude]

I’m bad at math but he had 3 years of back taxes owed right? If the attorney cost about 1k and there would be back taxes owed to Washington…so if he made generously 100,000 a year for 3 years as some of us have speculated it would be 4500 without fees at the 1.5% tax rate for that state. Now it could have been a little more or less depending on whether the lawyer was able to knock out the associated late fees with it, but if the lawyer knocked it out that would put him at 5500. That is probably more or less where it is, depending on the above but he definitely makes anywhere between 90-100k a year which is so fucking gross.

Even if my math wasn't taking into account it was spread out over 3 years, that's still approximately $87,000 a year for 3 years.

Playing video games. Begging for money. From a couch. In a nice home in suburban Washington.

Just when I thought I couldn't be more disgusted...

 

[neger psykolog]

Wait wait wait. Let's all settle down he said “So far, those State Business taxes I had to pay in January, [the back taxes] plus the attorney fees I’ve already paid to resolve that situation, have cost me around $5k.” I’m bad at math but he had 3 years of back taxes owed right? If the attorney cost about 1k and there would be back taxes owed to Washington…so if he made generously 100,000 a year for 3 years as some of us have speculated it would be 4500 without fees at the 1.5% tax rate for that state. Now it could have been a little more or less depending on whether the lawyer was able to knock out the associated late fees with it, but if the lawyer knocked it out that would put him at 5500 for the lawyer. That is probably more or less where it is, depending on the above but he definitely makes anywhere between 90-100k a year which is so fucking gross.

I still don’t know about his estimated payment shit, it sounds like he’s trying to make everyone pay him for both state and federal taxes every quarter plus some buffer for bills tbh. Cause lol how do 3 years of back taxes equal to what you would owe for 3 months of a single year? They don’t Phil. He just likes that 4k number to cover his basic bills and taxes.

I think 4k is a real number for one thing and he keeps repeating it's necessity to pay for a lot of other things, no matter how much those actual amounts are. If this is his real situation, whoo boy is he fucked. Take the L on the house Phil, for crying out loud.

Edit: Maybe the reason he's also just saying 4k for each quarter simply because that was what owed for the backtaxes - but more importantly he was able to raise it for the beggathon. People called it - 4k would become Phil's new normal.

Well from what I can gather and from what he has said:
He paid off his 2017 state taxes but still has to pay off the other remaining years (2016 + 2015 + 2014)

He made about 10k US in December, he may make $100k+ a year but everyone keeps forgetting that Just his debt repayments/expenses are estimated at being $6-7000 a month.

So when you think "100k per year" you should be looking at it like this:
100k+ income
80-90k in debt repayments/expenses

The reality is that he isn't making enough money any more to cover his debt repayments before he even begins worrying about his taxes.

 

[Sparkletor]

Somebody work out what his annual income is/was based on that $4k federal payment (which would be $16k annual). Also, his state business taxes from last year + attorney fees cost him $5k in January? Assuming the attorney fee was another $1k, that would be $4k, and at the highest possible rate, would mean he made $266,666, which doesn't make even remote sense. What am I missing here?

He says in that paragraph he owes $4000 more than he already paid. He is implying his federal quarterly is $4000 more than his estimate. He would to have made a lot more money to have an increase of 4k over his estimated tax he already paid.

 

[WeeblesWobble]

It's stupid, but I actually looked into it when he put up the 2017 Christmas decorations video (he gives the names of the decorations and the store they came from, so it wasn't exactly strenuous).

It was a lot of little things about $10 each with a hand full of bigger items, plus some outdoor decorations he posted on Twitter. All in all, it probably amounted to around $150.

(What made all this spending worth investigating was his statement near the beginning of the video. He pans over his mantle, crammed with a collection of scented candles, and remarks that he would buy a new one every year. He follows this with an explanation of how he wishes he could have bought another candle, but unfortunately, he didn't have the money for it).

Granted, but what I'm trying to say is that a man spending money so flippantly shouldn't expect sympathy when he puts his hand out to ask people younger and less fortunate (face it, the majority of his viewers are not in his tax bracket) to give him money. He went out and spent 150 dollars because his old decorations made him think of his ex. He's been with his ex for several years, Christmas will make you think about her. It's just what happens.

When it comes to money being tight it's usually one of two things that fuck you up. You don't think and make a few big money purchases, or you don't think and make a shit ton of small money purchases. One buries you quickly with an earth mover, and the other tosses dirt on you with a spoon.

 

[SkippyLongbottom]

I will laugh when he ends up sharing some new expensive birthday "gift" on instagram or on stream when he returns. I do not see a wallet being satisfying enough for Phillip.

 

[carolburnett]

Well from what I can gather and from what he has said:
He paid off his 2017 state taxes but still has to pay off the other remaining years (2016 + 2015 + 2014)

He made about 10k US in December, he may make $100k+ a year but everyone keeps forgetting that Just his debt repayments/expenses are estimated at being $6-7000 a month.

So when you think "100k per year" you should be looking at it like this:
100k+ income
80-90k in debt repayments/expenses

The reality is that he isn't making enough money any more to cover his debt repayments before he even begins worrying about his taxes.

He words everything so fucking stupid. He makes it sound like the state business backtaxes are taken care of at 3 separate points in his post. But then manages to shoe horn in THAT WAIT WASHINGTON STATE STILL HASNT FIGURED IT OUT YOU GUISE. Like I don't know how this is such a mystery number when he has the amount of tax he paid to the Feds for those past 3 years. It's not like the amount that he would be taxed for by the state would be different and they've known about this since what last summer? Unless they are auditing his ass but still it's been like over half a year now. How is this still a mystery?

 

[shilly_mays]

So when you think "100k per year" you should be looking at it like this:
100k+ income
80-90k in debt repayments/expenses

The reality is that he isn't making enough money any more to cover his debt repayments before he even begins worrying about his taxes.

This is how I see it, I actually never really doubted that he is in fact having money problems. He definitely embellishes things but I believe he is in fact struggling with debt and high expenses.

That's definitely not to say, however, that it's all completely his fault for being a short-sighted moronic manchild. Dude completely fucking blew his load with all of the money he made back then, I just can't get over how much of a waste it is that he took all of that good fortune and handled it in the worst way possible.

I can look past someone simply being impulsive and bad with money but to follow it up with constant insistence that they "didn't do anything wrong" and unwavering entitlement is what makes this pig so sickening to me.

Jesus, what an infuriating and compelling shitstorm this is. I wonder how much longer his fans will stick around. I mean, their parents will eventually find the credit card statements and fall into financial ruin themselves, so it can't last too much longer.

 

[James Smith]

After further conversation with @EddyB43 and others I think it's completely possible that DSP meant to say he has paid off all of his Washington B&O tax for years 2014-2017 (consistent with the assumed ballpark $90-100 thousand dollar a year income) but doesn't yet know what interest or penalties he may have to pay and is waiting on that information from the Washington Dept. of Revenue.

There's just no way he straight up made $350K in 2017.

The alleged $4K federal estimated tax payment also pegs him at an annual tax liability of about $12K which is spot the fuck on for a $100K a year income with $25K in deductions (I'm assuming that value based on mortgage interest and other shit.)

This figure also makes sense because at that income level he could probably just barely scrape by with the kind of lifestyle and irresponsible spending he engages in, but would indeed have difficulties during slow income periods of the year and increased difficulties as minimum payments on credit cards increased with larger and larger balances.

So autism wins.

 

[actually]

He says in that paragraph he owes $4000 more than he already paid. He is implying his federal quarterly is $4000 more than his estimate. He would to have made a lot more money to have an increase of 4k over his estimated tax he already paid.

You're right, but he ALSO said " I also now am expected to pay my “first estimated tax payment” for 2018 by April 17 in the amount of ANOTHER $4k" That's the $4k I was referring. Sorry about the confusion.


Edit for @SoapQueen1 's post. If that's correct, then that would square much better in terms of his annual income being more like $100k per year.

 

[neger psykolog]

After further conversation with @EddyB43 and others I think it's completely possible that DSP meant to say he has paid off all of his Washington B&O tax for years 2014-2017 (consistent with the assumed ballpark $90-100 thousand dollar a year income) but doesn't yet know what interest or penalties he may have to pay and is waiting on that information from the Washington Dept. of Revenue.

There's just no way he straight up made $350K in 2017.

The alleged $4K federal estimated tax payment also pegs him at an annual tax liability of about $12K which is spot the fuck on for a $100K a year income with $25K in deductions (I'm assuming that value based on mortgage interest and other shit.)

This figure also makes sense because at that income level he could probably just barely scrape by with the kind of lifestyle and irresponsible spending he engages in, but would indeed have difficulties during slow income periods of the year and increased difficulties as minimum payments on credit cards increased with larger and larger balances.

So autism wins.

Agreed.
The only thing I'm curious about is what a tax attorney/lawyer would charge for a backtaxes situation like this?

Like if you decided to employ one (which Phil has) you have to pay for a lawyer to physically be present at a meeting with the tax people? How much does that shit cost? How many lawyer hours would you be charged for filing all the paperwork to even get things started?

 

[James Smith]

Agreed.
The only thing I'm curious about is what a tax attorney/lawyer would charge for a backtaxes situation like this?

Like if you decided to employ one (which Phil has) you have to pay for a lawyer to physically be present at a meeting with the tax people? How much does that shit cost? How many lawyer hours would you be charged for filing all the paperwork to even get things started?

The concept of him paying an accountant in Connecticut (since he called him an accountant for years before he started calling him an attorney, I'm going to assume he was in fact an accountant and not an attorney) $1K a year to file his taxes is insane.

The man is straight up a mark.