DSP's Loan & Savings Company

[James Smith]

Notable: DSP now has priority debt to the IRS. That reduces his attractiveness as a borrower to private (and therefore non-priority) lenders.

 

[actually]

Notable: DSP now has priority debt to the IRS. That reduces his attractiveness as a borrower to private (and therefore non-priority) lenders.

You know anything about restrictions on underwater FHA mortgages that Phil was referring to?

 

[That Hedonist Nerd]

Notable: DSP now has priority debt to the IRS. That reduces his attractiveness as a borrower to private (and therefore non-priority) lenders.

An IRS payment plan doesn't show up on your credit report.

 

[James Smith]

An IRS payment plan doesn't show up on your credit report.

Holy cow, they go easy on you.

 

[actually]

Had a thought (that's probably not original), but does anyone know if the WA state tax issues could have shown up in a case anywhere? I'm assuming probably not, but figured I would check and see if anyone knew better.

 

[Phil Factor]

Had a thought (that's probably not original), but does anyone know if the WA state tax issues could have shown up in a case anywhere? I'm assuming probably not, but figured I would check and see if anyone knew better.

From what I've seen from other forums of people getting letters from the IRS, I'd imagine they'd send him multiple 'correspondences' so that there's a case in case he tells them to fuck off or ignores them before taking things public / judgement / audit whatever. I don't know the formal process for how many letters / days it would take, especially in Washington, but they'd give you an out if you're willing to pay up.

 

[James Smith]

There probably aren't any public records if it was strictly an administrative action.

 

[debatelimination]

Just watched the video on his planned Patreon changes in 2018. He's trying to suck more money out of people by basing the events off of how many Twitch subs he can get. He's lucky he gets what he does now. I wouldn't be surprised if this change is what eventually fucks him over on Twitch.

Phil's desperate for some of that easy tax-free money to bail him out of his latest fuckup that he's not taking ownership of, and once again blaming others. And why is he still going on about his money issues when it's rude to ask about money. I guess it's not rude to just throw your money issues onto the people watching your content and hope they throw more money at you like tossing marshmallows to that one old, fat bear at the zoo that is almost dead from marshmallow-induced diabetes.

This is just hilarious, when kiwiusers try to school DSP on content creation and taxes...

First of all, he's not trying to suck anyone's money. It's a voluntary trade between him and his subscribers that obviously value his content. It's a great marketing tool, gives subscriber easy way to make a decision on what event he should watch FIRST (based on how many subscribers it has gotten) in case he has missed it and wants to watch the VOD.

Phil is not desperate, Phil is being a normal human being that does not like being strangled by the government on every corner with taxes. What I love about him is, and I quote : "When I come back it's non stop content, multiple holiday events". You would think he'll burn out at this point, managing a business is hard, but guess what - he's not stopping any time soon.

 

[Funko Pops NFT collector]

This is just hilarious, when kiwiusers try to school DSP on content creation and taxes...

First of all, he's not trying to suck anyone's money. It's a voluntary trade between him and his subscribers that obviously value his content. It's a great marketing tool, gives subscriber easy way to make a decision on what event he should watch FIRST (based on how many subscribers it has gotten) in case he has missed it and wants to watch the VOD.

Phil is not desperate, Phil is being a normal human being that does not like being strangled by the government on every corner with taxes. What I love about him is, and I quote : "When I come back it's non stop content, multiple holiday events". You would think he'll burn out at this point, managing a business is hard, but guess what - he's not stopping any time soon.

So you went from pretending to being a tonka fanboy,to pretending to be a sargon fanboy with a sargon avatar profile pic,to pretend to be a DSP fanboy with a phil profile pic? Yeah ok,I dont want to read your exceptionalism so im just going to use the ignore function (that stops me from seeing his posts right?)

 

[Prince Lotor]

So you went from pretending to being a tonka fanboy,to pretending to be a sargon fanboy with a sargon avatar profile pic,to pretend to be a DSP fanboy with a phil profile pic? Yeah ok,I dont want to read your exceptionalism so im just going to use the ignore function (that stops me from seeing his posts right?)

Yes, that's exactly how the 'ignore' function works. You will not see anything from their account.

So the Amazon Wishlist thread made me remember Phil's recent, entirely incorrect, explanation of how 'gift exemptions' work and I started wondering where he got this idea. Was it something he came up with on his own, or did he completely misunderstand someone else explaining it to him?

He seemed to get this idea in his head sometime after he returned from eloping with his replacement Leanna. I think his mother must have told him that the $4K she gave him for his taxes was tax-free because she gave it to him under the 'annual gift tax exclusion' code, and Phil completely misunderstood her explanation of this rule. Now Phil thinks that there is a certain dollar amount that he can call 'gifts' each year and it doesn't count as income.

I guess we'll have to wait and see if he brings a file of receipts to his "Tax Guy" to declare as his 'Yearly Gift Exemption' and gets told what a dumbfuck he is, or if he just keeps the file in his 'office' and never shows his "Tax Guy" because 'It's not income dood, those are gifts.'

 

[Comma]

I guess we'll have to wait and see if he brings a file of receipts to his "Tax Guy" to declare as his 'Yearly Gift Exemption' and gets told what a dumbfuck he is, or if he just keeps the file in his 'office' and never shows his "Tax Guy" because 'It's not income dood, those are gifts.'

He pretty much explained during the pre-stream how he'll handle the Amazon wishlist tax-wise.

In short: he stated that he already reports every type of income to his "tahx guy", and that he will do the same with stuff gifted to him through Amazon.

Clip for archival's sake:

 

[Cyber Bowling]

Yes, that's exactly how the 'ignore' function works. You will not see anything from their account.

So the Amazon Wishlist thread made me remember Phil's recent, entirely incorrect, explanation of how 'gift exemptions' work and I started wondering where he got this idea. Was it something he came up with on his own, or did he completely misunderstand someone else explaining it to him?

He seemed to get this idea in his head sometime after he returned from eloping with his replacement Leanna. I think his mother must have told him that the $4K she gave him for his taxes was tax-free because she gave it to him under the 'annual gift tax exclusion' code, and Phil completely misunderstood her explanation of this rule. Now Phil thinks that there is a certain dollar amount that he can call 'gifts' each year and it doesn't count as income.

I guess we'll have to wait and see if he brings a file of receipts to his "Tax Guy" to declare as his 'Yearly Gift Exemption' and gets told what a dumbfuck he is, or if he just keeps the file in his 'office' and never shows his "Tax Guy" because 'It's not income dood, those are gifts.'

This is just pure speculation, which is really the best we can actually do without seeing Phil's taxes, but I think he just does the usual Phil approach. He finds the most expensive tax accountant and just dumps everything on them to file. Then he just talks out of his ass whenever the subject comes up and explains what he thinks is happening.

Phil is incredibly greedy, no doubt about that, but I think his laziness is greater than his greed. He's shown time and time again he's not willing to do anything to improve his stream to earn extra money, and based on his past spending habits he's not the type of person to really think about what he's doing. I can't imagine him filing his own taxes or putting forth the bare minimum time/energy to try and save money on his taxes. But that certainly wouldn't stop him from patting himself on the back and bragging about how great he is at paying taxes and all the ways he saves money like a real adult. Basically, his tax talk is just as well-informed as his explanations about network lag.

 

[That Hedonist Nerd]

This is just pure speculation, which is really the best we can actually do without seeing Phil's taxes, but I think he just does the usual Phil approach. He finds the most expensive tax accountant and just dumps everything on them to file. Then he just talks out of his ass whenever the subject comes up and explains what he thinks is happening.

Phil is incredibly greedy, no doubt about that, but I think his laziness is greater than his greed. He's shown time and time again he's not willing to do anything to improve his stream to earn extra money, and based on his past spending habits he's not the type of person to really think about what he's doing. I can't imagine him filing his own taxes or putting forth the bare minimum time/energy to try and save money on his taxes. But that certainly wouldn't stop him from patting himself on the back and bragging about how great he is at paying taxes and all the ways he saves money like a real adult. Basically, his tax talk is just as well-informed as his explanations about network lag.

I don't know if I agree. Taxes, especially for sole-proprietorship, are easy. I'm no accountant nor CPA, but I manage to do both my own and my business taxes every year without an issue. Legal Zoom is my registered agent, so they let me know if I've gotten any official correspondence via email as well as forward the mail to me so any 'big things' always get caught.

I don't think he has a tax guy. Or, if he does, his 'tax guy' is just a friend or family matter and not an official accountant or CPA. These are really simple taxes and yet his tax guy messed them up? That would make him the most incompetent tax preparer ever. They definitely wouldn't make a mistake like not filing in the state he's actually doing business in - that's a no brainer. It's not lawyers, you don't have to be certified to do taxes for a particular state, but tax people come in flavors; consumer, small business, medium business, big business, entertainment etc etc. The laws just don't vary that greatly from state to state - especially when the state has no income tax - they usually charge businesses a fairly simple flat tax structure.

I assert he either has a friend of the family do his taxes or he does them himself. If he says he has a tax person, he can shift all of this "I need money for taxes" drama onto this imaginary person. Dave didn't nothing wrong! He's a good boy! Mean bad tax man messed up and poor Dave, who acts in good faith with everything, now has to scramble to take care of that guys mistake.

And then on top of the tax guy messing up his taxes, Dave pays him anyway? Nah. Not buying it.

 

[Sparkletor 2.0]

I don't know if I agree. Taxes, especially for sole-proprietorship, are easy. I'm no accountant nor CPA, but I manage to do both my own and my business taxes every year without an issue. Legal Zoom is my registered agent, so they let me know if I've gotten any official correspondence via email as well as forward the mail to me so any 'big things' always get caught.

I don't think he has a tax guy. Or, if he does, his 'tax guy' is just a friend or family matter and not an official accountant or CPA. These are really simple taxes and yet his tax guy messed them up? That would make him the most incompetent tax preparer ever. They definitely wouldn't make a mistake like not filing in the state he's actually doing business in - that's a no brainer. It's not lawyers, you don't have to be certified to do taxes for a particular state, but tax people come in flavors; consumer, small business, medium business, big business, entertainment etc etc. The laws just don't vary that greatly from state to state - especially when the state has no income tax - they usually charge businesses a fairly simple flat tax structure.

I assert he either has a friend of the family do his taxes or he does them himself. If he says he has a tax person, he can shift all of this "I need money for taxes" drama onto this imaginary person. Dave didn't nothing wrong! He's a good boy! Mean bad tax man messed up and poor Dave, who acts in good faith with everything, now has to scramble to take care of that guys mistake.

And then on top of the tax guy messing up his taxes, Dave pays him anyway? Nah. Not buying it.

Phil did state that the evil tax guy who screwed him over was indeed his dad's coworker at the college and a friend of the family.

 

[Freshtodeath]

His dads friend was his tax guy. But he alledgedly has a new tax guy in washington. I love the image of dsp walking into a cpa office looking like a fallout ghoul explaining to them that he is a gaymer who makes 100k a year.

 

[Sparkletor 2.0]

His dads friend was his tax guy. But he alledgedly has a new tax guy in washington. I love the image of dsp walking into a cpa office looking like a fallout ghoul explaining to them that he is a gaymer who makes 100k a year.

It's kind of strange that Phil allegedly pays this guy thousands of dollars but doesn't know whether he is a tax attorney, an accountant, a tax preparer, or just some guy.

 

[PieceofShet]

It's kind of strange that Phil allegedly pays this guy thousands of dollars but doesn't know whether he is a tax attorney, an accountant, a tax preparer, or just some guy.

He caught up in his tax lies soo many times, he just calles him tax guy.

 

[Schmeckel]

It's kind of strange that Phil allegedly pays this guy thousands of dollars but doesn't know whether he is a tax attorney, an accountant, a tax preparer, or just some guy.

He rehearses his lies and shit. How many times has he said out loud "my tax attorney slash tax accountant" when talking about his taxes? He probably scribbles his terminology on sticky-notes that he posts around the barn like Patrick Stewart in "Safe House" just so he can hopefully keep his shit straight.

Spoiler

With regards to his wishlist and tax reporting - We all know damn good and well he ain't gonna report shit for his taxes. He writes off whatever he can, withholds whatever he can, and only reports what he absolutely HAS to in order to avoid an audit. He may be lazy about some things, but when it comes to money, this pig can hustle like the best of 'em.

 

[That Hedonist Nerd]

He rehearses his lies and shit. How many times has he said out loud "my tax attorney slash tax accountant" when talking about his taxes? He probably scribbles his terminology on sticky-notes that he posts around the barn like Patrick Stewart in "Safe House" just so he can hopefully keep his shit straight.

Spoiler

View attachment 819141

With regards to his wishlist and tax reporting - We all know damn good and well he ain't gonna report shit for his taxes. He writes off whatever he can, withholds whatever he can, and only reports what he absolutely HAS to in order to avoid an audit. He may be lazy about some things, but when it comes to money, this pig can hustle like the best of 'em.

Interesting how he states "tax attorney", mainly because most attorneys don't really have the knowledge needed to actually file taxes. And I don't know of one person thats a tax attorney/tax accountant together. That's... way too much work AND the skill sets and education needed do not overlap. That makes me think his just lying again. Not to mention there's almost zero reason he'd need an expensive tax attorney anyway.
I'd also like to mention that, while it's used correctly by Dave, I've never heard anyone talk about their "tax accountant", it's either a tax attorney, an accountant/CPA, or registered agent/tax preparer, etc

Some tax attorneys help prepare your tax returns for a premium; however, tax attorneys are not accountants and are rarely involved in filing taxes with the IRS. Tax attorneys typically do not hold the expertise of an accountant when maximizing deductions and planning ahead for future tax years.

Reasons you may need a tax attorney include:

• You are starting a business and need legal counsel about the structure and tax treatment of your company.
• You are engaged in international business and need help with contracts, tax treatment, and other legal matters.
• You plan to bring a suit against the IRS.
• You are under criminal investigation by the IRS.
• You committed a tax crime and need the protection of attorney-client privilege.

 

[ReentryPhantom]

Interesting how he states "tax attorney", mainly because most attorneys don't really have the knowledge needed to actually file taxes. And I don't know of one person thats a tax attorney/tax accountant together. That's... way too much work AND the skill sets and education needed do not overlap. That makes me think his just lying again. Not to mention there's almost zero reason he'd need an expensive tax attorney anyway.
I'd also like to mention that, while it's used correctly by Dave, I've never heard anyone talk about their "tax accountant", it's either a tax attorney, an accountant/CPA, or registered agent/tax preparer, etc

It's probably just some guy at H&R Block