DSP's Loan & Savings Company

[neger psykolog]

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.

No I'm talking about the period of time starting when he first received a notice from the Washington government in relation to being declared a business.

What would a lawyer/tax attorney charge to process the paperwork for all of that shit?

 

[carolburnett]

No I'm talking about the period of time starting when he first received a notice from the Washington government in relation to being declared a business.

What would a lawyer/tax attorney charge to process the paperwork for all of that shit?

From what I looked up via google it's either hourly 200-400 (possibly 1k in larger cities) or a flat rate. Since it's been pretty consistent amount paid, either Phil found one for a flat rate or hourly for 1k would be my guess (more likely flat rate). And knowing the way Phil spends he went for the kwality lawyer for the big money to make sure he doesn't get boned over and probably will eventually explain ad nauseam if he ever feels the need to bitch about this lawyer.

 

[neger psykolog]

His reasons for not providing any evidence:

https://twitter.com/TheyCallMeDSP/with_replies
http://archive.fo/Vnut3

 

[Haunter]

It may be worth keeping in mind that the select handful DSP wrote that Twitlonger about his taxes for are the same marks that give DSP money to pay for those taxes.

$4000 is just large enough for him to signal to them that he needs financial support, but not quite large enough to scare them off. If it were any more the marks would throw in the towel hopeless, or consider that such a massive sum of money owed to the government must truly be his fault.

He's still relying on the few that aren't old enough to know how taxes work, the actual exceptional, a half a dozen that just happen to still be there, and the couple of rabid die-hards. He needs to milk them all. There's no reason to believe these numbers are anymore truthful than anything else he's said about them up til now.

 

[Lysol]

Spoilered everything so it wouldn't take up a large amount of the page.

Spoiler

http://mentalfloss.com/article/74528/what-happens-if-i-dont-pay-my-taxes-time

Say you just don’t want to pay your taxes (a crime, just to be clear). How long before the IRS will come after you?

If your penalties and back-taxes add up to more than $25,000, someone from the IRS is going to come knocking at your door. In 2015, the IRS investigated 223 people for regularly failing to file their taxes, and put 167 people in jail for an average of three years.

Well at the very least it looks like he's not going to federal pound-me-in-the-ass prison anytime soon.

Spoiler

I looked for information on what exactly happens if you don't pay taxes owed to the state of Washington, and what I got for property taxes was this:

https://www.nolo.com/legal-encyclopedia/what-happens-if-i-dont-pay-property-taxes-washington.html

I think this:

In Washington, if you fall three or more years behind in paying your real property taxes, the county can foreclose and you could eventually lose your home to a tax sale

is the salient part of this article, but I don't think Phil's that close to his deadline so I suppose it doesn't matter, as long as he gets the longest standing payment taken care of.

Spoiler

Interestingly, and I don't know if this affects anything, but apparently Washington doesn't have income tax.

https://turbotax.intuit.com/tax-tips/state-taxes/what-if-i-did-not-file-my-state-taxes/L9mbnMbPJ

At the time of this writing, the only states that do not charge a state income tax are Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.

 

[samovski]

$4000 is just large enough for him to signal to them that he needs financial support, but not quite large enough to scare them off.

I genuinely hope you're wrong there. Hopefully the fact that this will total about what? $10,000 he's asked for in 5 months will scare some of them off. At some point something has to give. Either they'll move on to another streamer who doesn't constantly need thousands of dollars every other week or, they'll decide to place themselves 1st. Decide to spend that money on stuff for themselves, maybe on someone they love who'll actually show appreciation to them.

Not keep giving in to the demands of a fat man on the internet who proudly boasts of his street smarts and business degree but apparently has the foresight of a blind spastic.

 

[Ilscuro]

I'm amazed some of Phil's A-logs haven't found out who this mystery 'tax attorney' is yet, if he even exists, and started giving him shit.

 

[boxybum]

What more can be said? This is the classic con man act he has pulled time and time again.

Hype up an impending doom while deflecting away the questions from people calling them idiots and pitting them against each other by telling them that the "real fans" will believe and help.

We can only hope that at least some will see through the bullshit this time and stop supporting him. They need to realize that Phil will never stop begging for money.

And for the slim chance that he is not lying about this whole tax thing that he has yet to provide a single shred of evidence for. Then he needs to sell the house that he clearly can't afford and stop trying to live beyond his means. He isn't growing, he is shrinking and needs to realize this.

"Some things are more important than money" straight from the horses mouth.

 

[James Smith]

I'm amazed some of Phil's A-logs haven't found out who this mystery 'tax attorney' is yet, if he even exists, and started giving him shit.

It'll be the first Google search result for "tax attorney" when using a Washington IP address.

 

[PedoPhil]

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.

Those headphones, when he bought them, were like 280-300$

 

[HighTierGout]

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.
.

It was probably between in the range of 300-500$

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

He averaged 350~ i think, Cryo wanted to be a a detractor and give him exposure and 2k viewers but he decided dinner comes first and quickly shut off his stream

How much did he pay for all the Christmas decorations?

Tevin made videos about the Christmas "ordeal" and idk if it was him or a "detractor" here but they said that the ornaments he brought were quite expensive probably in the range of hundred dollars, no lie

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

300 headphones which he constatily complains about not having sound on his PS4, so buckle up for the PS4K begging season, because that's where the money will mostly go, before the "gaming season", not really the taxes i would reckon

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

People are estimating it's range between 2k or some shit but would you trust a company that rents houses or even your parents so those 2k become like at least 500$ of expenses until he's "able" to sell the house? you wouldn't, right? because DSP makes the best decisions and you not doing what he would do in his situation, makes you a filthy detractor like the rest of us who tried to help him with finances, time and time again

 

[neger psykolog]

People are estimating it's range between 2k or some shit but would you trust a company that rents houses or even your parents so those 2k become like at least 500$ of expenses until he's "able" to sell the house? you wouldn't, right? because DSP makes the best decisions and you not doing what he would do in his situation, makes you a filthy detractor like the rest of us who tried to help him with finances, time and time again

There's been a whole lot of discussion regarding the CT condo rental saga and his decision to not rent it out. Realistically, renting it out does seem to actually cause more problems than it solves. Unless he rents it directly to someone he personally knows (like his Aunt) its not always easy to just rent out a property just so you can say you've done it.

There are numerous liability issues attached if things went bad and because its in a poor neighborhood without many rent management companies, its not necessarily as simple as people think it might be.

You could pretty much write about a book about how unfortunate that CT condo is. Purely for the sake of being fair and trying to be somewhat impartial, there are actually reasons you wouldn't or couldn't easily rent out a property, especially if you didn't live nearby or have a reputable person watching over it in your absence.

People do make bad decisions and DSP is not the first or last person to get stuck with an unwinnable property, especially when you consider it wasn't purchased with the idea of being an investment/rental property to begin with.

There's plenty of valid criticism to be had about how he's handled it over the years, but there are many situations in which people can and do get stuck with properties that are nothing more than a hole in their bank accounts.

 

[BrunoMattei]

There's been a whole lot of discussion regarding the CT condo rental saga and his decision to not rent it out. Realistically, renting it out does seem to actually cause more problems than it solves. Unless he rents it directly to someone he personally knows (like his Aunt) its not always easy to just rent out a property just so you can say you've done it.

There are numerous liability issues attached if things went bad and because its in a poor neighborhood without many rent management companies, its not necessarily as simple as people think it might be.

You could pretty much write about a book about how unfortunate that CT condo is. Purely for the sake of being fair and trying to be somewhat impartial, there are actually reasons you wouldn't or couldn't easily rent out a property, especially if you didn't live nearby or have a reputable person watching over it in your absence.

People do make bad decisions and DSP is not the first or last person to get stuck with an unwinnable property, especially when you consider it wasn't purchased with the idea of being an investment/rental property to begin with.

There's plenty of valid criticism to be had about how he's handled it over the years, but there are many situations in which people can and do get stuck with properties that are nothing more than a hole in their bank accounts.

I agree with everything except that Phil did massively fuck up by not selling the Condo first.

 

[BSV]

At least where I am from, we have companies that take all the responsibility of renting process for a cut of the rent. They would take a cut of the rent per month. But they would fix any issue that arises. It being a problem with the property, or if the tenant was behaving weirdly. They would even pay you the rent even if the tenant don't pay. Are you telling me that doesn't exist in Connecticut?

 

[Faded]

I agree with everything except that Phil did massively fuck up by not selling the Condo first.

He's fucked up by not changing after realizing his income was going downhill. He's had AMPLE chances to adapt and improve.

And he's whining about a petty 8,000?
After all the money he's brought in over the years.

Poor me. I can't afford the last 4,000.

Guess what.

Maybe don't spend 80,000 on expenses

Get wrecked DSP. Now go and find another source of income that isn;t begging.

 

[PieceofShet]

He's fucked up by not changing after realizing his income was going downhill.

BUT HE DID CHANGE WHEN HE SAW HIS INCOME GOING DOWN! HE bought a mansion and moved to Seattle.

 

[CabbageMan]

At least where I am from, we have companies that take all the responsibility of renting process for a cut of the rent. They would take a cut of the rent per month. But they would fix any issue that arises. It being a problem with the property, or if the tenant was behaving weirdly. They would even pay you the rent even if the tenant don't pay. Are you telling me that doesn't exist in Connecticut?

As far as I know these sorts of companies are everywhere in the US. Some are less trustworthy than others but in piggy's case anything to staunch the bleeding would be better than nothing. You know, if he was book smart.

 

[HighTierGout]

At least where I am from, we have companies that take all the responsibility of renting process for a cut of the rent. They would take a cut of the rent per month. But they would fix any issue that arises. It being a problem with the property, or if the tenant was behaving weirdly. They would even pay you the rent even if the tenant don't pay. Are you telling me that doesn't exist in Connecticut?

Exactly, that's what i mean, unless his CT neighbour is in the hood, which i doubt, i'm pretty sure he renting it for whatever price, at least it's a income....what annoys me is that he's crying wolf but doesn't do anything about it, he expects people to do it for him, how can he expect his CT condo to miraculously be worth 300k if it keeps being unused? I will laugh when he goes on a trip to Seattle with his cat and they go to a 1k hotel per night instead of going to his property...he needs to be far away from his past dood, it gives him ptsd

 

[Prince Lotor]

@AckAckNothingICouldDo posted this in the megathread:

So the TL;DR of this translated from AckAckAckian is that Phil stopped paying his quarterly Estimated Income Tax Payments sometime in Q4 2017, probably as soon as he found out about his B&O taxes. His claim of "I owe over 4K on my Federal Taxes because I made more than I thought I would" is complete fucking gobbledygook. The due date for his Q4 Estimated Income Tax Payment was January 15th, the only reason receiving more income at the end of Q4 would have increased his Federal Taxes is because he choose not to pay his Federal Tax liability on that income by the January 15th deadline and instead incur penalties on that tax liability by deferring the whole payment until his annual Federal Tax filing, which would mean if he didn't pay ALL of his 2017 taxes when filing his tax return on the 17th he would have started having to pay penalties and rolling interest starting on the 17th. . .due to his unpaid Q4 Estimated Income Tax Payment.

And what is he doing again in April? Refusing to pay his Q1 Estimated Income Tax payment as the fees and penalties on that don't come due in full until he files his 2018 return. It's his Federal Tax liability on his income. Just take the appropriate amount to pay it out of the money as it comes in.

Also lol at him paying $5k to deal with paying the $1.5K to $2K problem his 2017 B&O taxes were. I guess he did "pay his 'tax attorney' thousands and thousands ($3K to $3.5K) of dollars."

Edit: I am 95% sure I remember Phil saying something about the 'tax attorney' was paid over $3,000 by the end of January. This is another case of Phil massively overpaying for something because the most expensive = the best and little Philliam gets nothing but the top shelf.

Edit2: Wait. . .it's just hitting me that Phil still owes like $8.5K in fucking backtaxes this month! $4K from his unpaid Q1 Estimated Income taxes that he is putting off until Dorothy gets back from Narnia, and $4.5K for his 2014-16 B&O taxes that he hopes he will be allowed on a payment plan for; and if they put him on a payment plan then he has dodged yet another bullet and gets to keep limping along. If they want him to pay it back in 1 year that's $380 a month, if they give hin 3 years that's $125 a month added onto his bills.

 

[BSV]

It's just ridiculous. It is like he tries to sell you that he somehow only get taxed without there being any money to take the taxes from. A tax burden on 20% is actually really small compared to other places in the world. If he would have problem with it for one quarter if he got some extra payment unexpected that could be believable. But when he self admittedly earned 20 000, last quarter and have an income of at least 5k a month. Even the numbers he give would be no problem for him to manage. He has received the money on his account. But in his version of the story, it seem like he is just being asked to pay taxes and that the money he would pay it with never existed.