DSP's Loan & Savings Company

[ReentryPhantom]

I apologize, I thought he was under 'Burnell Productions' or something, unless people were doing blanket searches online to try to locate it. I know he did confirm he was a sole proprietorship but kept mentioning LLC.

Regardless, the fact that people are handing him money in good faith are beyond foolish. But then again we already know the type of people that are his core supporters... Phil vehemently exclaimed he will NOT stop talking about money, because then his income stops you silly detractor.

"But if you told me to do it LESS, well now that's a legitimate suggestion."

Just as you're running a legitimate business Phil. At least, that's what you're trying to tell your creditors.

Yeah I just double checked. It is a sole proprietorship.

 

[Raven'sChild]

D$P just said the latest Twitch payment "went to bills...and stuff and would be used to pay bills." ( aka E7 paid basic bills not taxes)
Tax bill has increased to $20k now . He was asked by the IRS to pay $4k each quarter. He did not pay anything. He says he " assumes now" due to fees and interest ( now ) having not paid any taxes and the guy charging him 1230 ( twelve thirty is what he said ).

 

[Il_Duke]

On that note, this is the third time I've heard Phil say that the tax code changes made it harder for him to pay because "People are getting less back from their tax returns".

That's true! People are getting less back because their withholdings were lower in 2018, leading to a lower refund in comparison. When you pay $12,000 and owe $11,000, you're going to get less back than when you paid $14,000 and owed $12,000. When you paid literally $0, that difference doesn't matter - Phil has no way of making that comparison, because he says he doesn't know what he actually owes.

 

[Funko Pops NFT collector]

I haven't seen anyone here belittle Phil's ability to bilk money from kids, it's more of some people puzzled by how Phil's able to draw them in and find replacements for people who grow up or had their moms find out about their stolen credit cards.

On a tangential note, I guess it depends on how you define success. If success for you means being able to amass money, then sure, Phil is a success. Personally, though, having that much money means jack if you can't put it to good use. I mean, you can't literally buy happiness, but having boatloads of money means having the ability to buy things and experiences that does make you happy. And for all the money Phil gets (and with little effort, to boot), he doesn't seem able to find something to buy that truly makes him happy. He looks miserable and visibly aged most times when he streams. That's not a happy camper, even with the thousands he makes.

You need to remember than Phil does not even have money,he does not own anything he has,everythin he has is borrowed,I have read on this website that Phil has about half a millon dollars of debt,and he is never going to pay that back because he only makes minimum payments and his income decreases every year. One day he is going to lose his house and is going to have to move back to CT and even then I doubt he is going to be in the clear.

Phil does not have money,everything he has he acquired he has done so through credit.I know Im responding to an older post but it needed to be said.

 

[Mr.PiggyOinkOinkOink]

D$P just said the latest Twitch payment "went to bills...and stuff and would be used to pay bills." ( aka E7 paid basic bills not taxes)
Tax bill has increased to $20k now . He was asked by the IRS to pay $4k each quarter. He did not pay anything. He says he " assumes now" due to fees and interest ( now ) having not paid any taxes and the guy charging him 1230 ( twelve thirty is what he said ).

“Money comes and goes”

Sounds like darks bank account is a black hole of money the same way he’s a black hole for autism

 

[gin_nose]

D$P just said the latest Twitch payment "went to bills...and stuff and would be used to pay bills." ( aka E7 paid basic bills not taxes)
Tax bill has increased to $20k now . He was asked by the IRS to pay $4k each quarter. He did not pay anything. He says he " assumes now" due to fees and interest ( now ) having not paid any taxes and the guy charging him 1230 ( twelve thirty is what he said ).

he is a liar yet again. there is no penatlty or fee or interest for not making quarterly tax payments and he knows it and that is why he wasnt worried about missing them all year. if you pay the full amount owed by april 15th they dont do shit. they want you to do the quarterly so you dont end up like dark blowing all your tax money on fast food and then cant pay the lump sum when due.

Also finally someone claled him out for being a retard that a CPA and tax attorney are NOT the same thing. it always drove me nuts he kept calling his CPA a "tax attorney" and if he is using a tax attonrey for tax prep he is more retarded than i thought.

 

[Freshtodeath]

20k to bills so he must have just spent it on credit. Like I figured. Initially in his head he probably thought "ohhh ill use the 20k for taxes" but when it actually came time he just put it on credit and lit it on fire.

 

[gin_nose]

20k to bills so he must have just spent it on credit. Like I figured. Initially in his head he probably thought "ohhh ill use the 20k for taxes" but when it actually came time he just put it on credit and lit it on fire.

he used the $12k for paying off those crushing credit card payments 100%. he is dumb enough to think he will get another $12k from another idiot before 4/15 and figures he will use the cards to pay tax bill since he has the room now if he doesnt make it. god this guy is dumb.

 

[Raven'sChild]

he is a liar yet again. there is no penatlty or fee or interest for not making quarterly tax payments and he knows it and that is why he wasnt worried about missing them all year. if you pay the full amount owed by april 15th they dont do shit. they want you to do the quarterly so you dont end up like dark blowing all your tax money on fast food and then cant pay the lump sum when due.

Also finally someone claled him out for being an exceptional individual that a CPA and tax attorney are NOT the same thing. it always drove me nuts he kept calling his CPA a "tax attorney" and if he is using a tax attonrey for tax prep he is more exceptional than i thought.

...in true D$P fashion he said that person was an idiot who didn't know what they were talking about and then said there would be no more talk on the subject tolerated.

 

[((CH3)2Hg)]

he used the $12k for paying off those crushing credit card payments 100%. he is dumb enough to think he will get another $12k from another idiot before 4/15 and figures he will use the cards to pay tax bill since he has the room now if he doesnt make it. god this guy is dumb.

Especially dumb considering that historically most of his major contributions by whales have been through Twitch, which carries a two month delay. Anything now will need to be tipped for him to have it by the April 15th deadline. So he's down to tips or paying the back taxes with credit for the second year in a row. Though I suppose if the cards he paid down were used for that then this might make slightly more sense, but I'm not giving him the benefit of the doubt on that.

 

[Draza]

His credit card debt must be up to his fucking eyeballs up to now. How can anyone be so reckless with money and credit, and still continues to do it is mind blowing.

 

[bearsintrees]

I'm gonna keep saying it, but Phil is a liar and his tax situation is not nearly as bad as he claims.

"Maybe they'll put me on a payment plan" is not the way the IRS works. They want their money. They get their money. There's no version of this where Phil has been in limbo not knowing what he owes for the last 6 months. You can't not pay your quarterly taxes for a year because you owe the previous year's taxes. He doesn't need to turn his 2018 taxes in to H&R Block to know what he owes for the years he didn't pay. Phil is a liar.

He will be put on a fair but strict payment plan, if he isn't already, and he will pay it with a portion of his $100k/year earnings. He will be fine. If absolutely necessary, he will cut back on his absurd lifestyle, but that's unlikely, and he'll never admit it on stream because he's too prideful.

Phil is a liar.

 

[That Damned Tiger]

His credit card debt must be up to his fucking eyeballs up to now. How can anyone be so reckless with money and credit, and still continues to do it is mind blowing.

Simple psychology. Let's say you only pay cash, right? If you see how much you have in your wallet, you'll only pay with what you have right now. With credit cards, that logic goes out the window. "Oh, I'll just pay it off later for good times right now." So, for speds like Phil who have no self-control or discipline, it quickly becomes a vicious cycle of dopamine rush and crushing reality.

I say we should encourage him to dig himself deeper. He'll either dig himself out to 'get back at the detractors', or dig himself deeper and double down on the begging. Either one would be satisfactory.

 

[Raven'sChild]

I'm gonna keep saying it, but Phil is a liar and his tax situation is not nearly as bad as he claims.

"Maybe they'll put me on a payment plan" is not the way the IRS works. They want their money. They get their money. There's no version of this where Phil has been in limbo not knowing what he owes for the last 6 months. You can't not pay your quarterly taxes for a year because you owe the previous year's taxes. He doesn't need to turn his 2018 taxes in to H&R Block to know what he owes for the years he didn't pay. Phil is a liar.

He will be put on a fair but strict payment plan, if he isn't already, and he will pay it with a portion of his $100k/year earnings. He will be fine. If absolutely necessary, he will cut back on his absurd lifestyle, but that's unlikely, and he'll never admit it on stream because he's too prideful.

Phil is a liar.

I, as one who has always said D$P's money woes were fictitious will side with the D$P paid his $4k quarterly and now thinks he can m il k a hefty coffer lining off his fans by saying he didn't and OWES x amount or he'll once again lose his house. Worked last year and we all know that D$P will ride a winning pony right off it's legs head first into the dirt.
(tests my new edit ability)
OMG thank you so, so, so, so much!!!!!!!11one You know who you are. I can EDIT my posts! *dances*

I say this as last year he did not make $16k+/- from Dec-April 2017-18, BUT managed to 'save his house'. Paid that debt quarterly mayhaps? Made more this year and for some reason decided to not pay quarterly? I think not.

 

[actually]

I'm gonna keep saying it, but Phil is a liar and his tax situation is not nearly as bad as he claims.

"Maybe they'll put me on a payment plan" is not the way the IRS works. They want their money. They get their money. There's no version of this where Phil has been in limbo not knowing what he owes for the last 6 months. You can't not pay your quarterly taxes for a year because you owe the previous year's taxes. He doesn't need to turn his 2018 taxes in to H&R Block to know what he owes for the years he didn't pay. Phil is a liar.

He will be put on a fair but strict payment plan, if he isn't already, and he will pay it with a portion of his $100k/year earnings. He will be fine. If absolutely necessary, he will cut back on his absurd lifestyle, but that's unlikely, and he'll never admit it on stream because he's too prideful.

Phil is a liar.

He's lying, but I don't think he's lying about everything. The $16k matches up well with what someone who makes the annual income Phil is estimated to have made last year would be expected to pay in federal taxes.

What's he lying about is having absolutely no idea what he owes and saying that he's going to be paying a ton in interest and fees. He has at least a top-end amount for his 2018 income because he had to pay the state B&O tax on January 31st. To do that, he needed his gross income for 2018. The interest on his federal tax, if he even owes any, is essentially negligible and came out to like a few hundred dollars. I can believe he didn't do his quarterly payments, especially if his credit debt kiting finally caught up to him and his monthly debt payments went way up. But he's exaggerating the tax situation to try and get more pity money for his (somehow) extravagant spending.

What's really surprising to me is that it isn't, by and large, working this month. He's on track for what amounts to a perfectly average Twitch month in terms of total income, even with his begging and doing the tip goal and all that shit. Not sure if it's the general knowledge, even among his biggest fans, that he got the $16k from December or what.

 

[Raven'sChild]

He's lying, but I don't think he's lying about everything.
...
What's really surprising to me is that it isn't, by and large, working this month. He's on track for what amounts to a perfectly average Twitch month in terms of total income, even with his begging and doing the tip goal and all that shit. Not sure if it's the general knowledge, even among his biggest fans, that he got the $16k from December or what.

or...

 

[James Smith]

I'm assuming his home address is attached to the LLC so if they sent paper copies he should've had them 1/31/19 the latest.

They're legitimately behind on issuing the forms. They even sent out incorrect ones to some people already.

Made more this year and for some reason decided to not pay quarterly? I think not.

I wonder what happened between January 1 and December 31 in 2018 that could cost him $16K that year.

 

[Phil Factor]

They're legitimately behind on issuing the forms. They even sent out incorrect ones to some people already.


I wonder what happened between January 1 and December 31 in 2018 that could cost him $16K that year.

Well, it still looks like it'll take Phil 2 nights to take every month's revenue and add it up in one column... And of course he needs to look over any business expenses for his equestrian.

 

[BallBuster]

he used the $12k for paying off those crushing credit card payments 100%. he is dumb enough to think he will get another $12k from another idiot before 4/15 and figures he will use the cards to pay tax bill since he has the room now if he doesnt make it. god this guy is dumb.

If you don’t think another whale won’t come and rescue him you clearly haven’t been paying attention.

 

[Phil Factor]

So just to confirm from last night's stream. He said that he had about $8k left from the gifted subs, but I honestly think that's $8k left from the Emerald 7 subs + all the donations from Dec '18 / Jan '19.

Now he's claiming he thinks he'll owe $20k total for taxes, attorney fees (but now he's fucking up and saying it's a CPA?), etc. But then he upped that to like ~$24k because of the taxes for $20k worth of earnings.

He seems to be very blasé about only having $8k of $20k(?) needed for 4/15/19. Saying along the lines of "Well I'll just have to wait and see what happens".

If you don’t think another whale won’t come and rescue him you clearly haven’t been paying attention.

Does it ever end? I feel he was a bit lazy with his begging around Christmas time because he could relax with the Emerald 7 subs. He seems to be really happy if he can break $100 daily in total subs, tips, cheers.

On a complete side note, I love hearing him complain about rising interest rates, as if that's a lead indicator that the U.S. economy is terrible. Generally, those rates go up because the Fed Reserve wants to slow down cheap debt being taken out by corporations/people or else everyone is using play money. As long as consumers / corporations don't blow the money, it's a relatively smart way to prevent from recessions turing into depressions.

Although I think Mr. Business Degree is suffering from his introductory credit card offer rates expiring. His payments would not double overnight if it wasn't for the fact that he's now paying +20% interest on his credit card debt.