DSP's Loan & Savings Company

[James Smith]

Another note, people hear "Connecticut" and expect a huge mortgage payment. His place has an estimated $228 monthly payment (if it's not paid off already). I'd wager it's paid off and now a "investMAt" property and just pays property taxes. It's already been speculated (the aunt i think?) rents the place. Even $600 rent covers payments and that's cheap.

I have no idea where you're getting $228 from because even if he got an interest-free 30 year loan he'd still be paying over $363. In addition to the principal he needs to pay interest, probably mortgage insurance, property insurance, property taxes, HOA fees, and utilities mandated by the HOA/lender/city like heat and sewer. He is currently approaching 33-53% equity in the property assuming his down payment was 10-20% of the purchase price.

Second his aunt hasn't lived there for like three years and has been dead for like two of them.

Welcome to the subforum.

 

[Adamska]

2018 income was approximately $9800 per month.
View attachment 939741

Spoiler

Month	Bits	Subs	Tips	YouTube	Patreon	Total	Notes
January 2018	4197.89	1112.5		1900	1100	8310.39	Tips not Included
February 2018	2820.49	757.5	1400	2800	840	8617.99
March 2018	2296.84	798.5	1311.67	3200	718	8325.01
April 2018	2198.24	883.5	1585	2250	724	7640.74
May 2018	2586.82	884		4600	659	8729.82	Tips not Included
June 2018	2189.3	1151	2507.32	2250	777	8874.62
July 2018	3950.5	1301	1712	1461	1260	9684.5
August 2018	4739.93	1295	3049	1535	1004	11622.93
September 2018	2579.53	1921.54	1921.54	1388	735.61	8546.22
October 2018	2350.75	1344.5	1730.91	1800	842.16	8068.32
November 2018	2467.05	1433.5	1704.6	1718	659.8	7982.95
December 2018	2595.31	13340.5	2372.1	1820	700	20827.91

2019 income has been approximately $9700 per month.
View attachment 939742

Spoiler

Month	Bits	Subs	Tips	YouTube	Patreon	Total
January 2019	3565.93	2715.29	1113.5	1820	647.02	9861.74
February 2019	2103.38	1470	2036.47	1766	622.63	7998.48
March 2019	2562.1	1459	4838.61	2000	625.8	11485.51
April 2019	1802.24	1047	3350.17	1700	510.53	8409.94
May 2019	1556.29	1295.5	3105.93	1688	535.84	8181.56
June 2019	2234.08	1234.08	5161.73	1742	644.72	11016.61
July 2019	2299.03	1411.5	3051.18	1688	483.09	8932.8
August 2019	2572.53	1655.5	5327.83	1728	480.97	11764.83

Spoiler: Old Info

2018 average income was just over $9000 per month and is missing large amounts of income.
View attachment 921675

Spoiler

Month	Bits	Subs	Tips	YouTube	Patreon	Total	Notes
January 2018	4197.89	1112.5			1100	6410.39	Tips and YouTube not Included
February 2018	2820.49	757.5	1400	1400	840	7217.99
March 2018	2296.84	798.5	1311.67			4407.01	YouTube and Patreon not Included
April 2018	2586.82	1115.5	1585	2250		7537.32	Patreon not Included
May 2018						0	Not Included
June 2018	2189.3	1151	2507.32	2250		8097.62	Patreon not Included
July 2018	3950.5	1301	1712	1461	1260	9684.5
August 2018	4739.93	1295	3049	1535	1004	11622.93
September 2018	2579.53	1921.54	1921.54	1388	735.61	8546.22
October 2018	2350.75	1344.5	1730.91	1800	842.16	8068.32
November 2018	2467.05	1433.5	1704.6	1718	659.8	7982.95
December 2018	2595.31	13340.5	2372.1	1820	700	20827.91

2019 average income was just over $9700 per month.View attachment 921706

Spoiler

Month	Bits	Subs	Tips	YouTube	Patreon	Total
January 2019	3565.93	2715.29	1113.5	1820	647.02	9861.74
February 2019	2103.38	1470	2036.47	1766	622.63	7998.48
March 2019	2562.1	1459	4838.61	2000	625.8	11485.51
April 2019	1802.24	1047	3350.17	1700	510.53	8409.94
May 2019	1556.29	1295.5	3105.93	1688	535.84	8181.56
June 2019	2234.08	1234.08	5161.73	1742	644.72	11016.61
July 2019	2299.03	1411.5	3051.18	1688	483.09	8932.8
August 2019	2572.53	1655.5	5327.83	1728	480.97	11764.83

Pig is so goddamn poor that he only makes six figures a year.

 

[An Avenging Bird]

He doesn't live a $100K a year lifestyle. He lives a $50K a year lifestyle. He could quit streaming and get a job that paid $35K a year if he'd make Kat use her $15K a year towards the household. If he declared bankruptcy with a reduced income he has a very good chance of getting a judge to lower his payments to match his newly lowered income and he'd save literally $75K on his credit card debt.

Declaring bankruptcy would be tantamount to conceding defeat for Phil in his crusade against the detractor infidels.
Even if his decisions permanently fuck him for the rest of his mucus swallowing life, he refuses to do the smart thing even if it saves him a ton of money.
This may be because none of the wealth he accumulates is actually earned, as it is conned out of wheelchair symbols, or due to him being the most stubborn and arrogant beggar in the milky way.
Either way, he's never getting out of debt and has only himself to blame.

 

[LiquidCancer]

It's already been speculated (the aunt i think?) rents the place. Even $600 rent covers payments and that's cheap.

His aunt died 4 years ago. The condo has sat empty since and he pays the mortgage, taxes, and condo fees on the empty place ever since.

 

[Muppetmode]

His aunt died 4 years ago. The condo has sat empty since and he pays the mortgage, taxes, and condo fees on the empty place ever since.

How far away is it from his parents? You’d think they’d help him rent it out instead of letting Phil and the condo suck money from them

 

[shekelshoah666]

How far away is it from his parents? You’d think they’d help him rent it out instead of letting Phil and the condo suck money from them

His parent's are near death and physically can't handle renting it out for him. In reality he just refuses to even bother with it and can't even be bothered to spend a few hours to get it handled because he works all day and can't find the time. If you can find a realtor who will communicate only via email let him know because that's the only way he knows how to talk to anyone.

 

[ReentryPhantom]

How far away is it from his parents? You’d think they’d help him rent it out instead of letting Phil and the condo suck money from them

Are you ready to be amazed?

 

[Comma]

Yesterday DSP talked ranted about people estimating his monthly income.

Here are the main quotes, some of them paraphrased for brevity:

- No one actually knows what I make. Everyone tries to guess based on the chat and adding stuff up, but that doesn't equate to being an accurate number.
- People don't know how much PayPal keeps from transactions, who tries to charge stuff back and what I get when.
- People are completely wrong 9 times out of 10 when they try to estimate what I make. A lot of people completely overestimate what I make.
- It doesn't matter how much I make - I could be making a million dollars a month, but if I have that debt, it means that the million dollars gets pissed away to paying payments on things like loans and credit cards.
- I have all these financial responsibilities every single month. I don't have money that I can just pocket and keep and spend on frivolous shit. All that money goes right to bills and I don't ever see any of it.

 

[actually]

Here are the main quotes, some of them paraphrased for brevity:

- No one actually knows what I make. Everyone tries to guess based on the chat and adding stuff up, but that doesn't equate to being an accurate number.
- People don't know how much PayPal keeps from transactions, who tries to charge stuff back and what I get when.
- People are completely wrong 9 times out of 10 when they try to estimate what I make. A lot of people completely overestimate what I make.
- It doesn't matter how much I make - I could be making a million dollars a month, but if I have that debt, it means that the million dollars gets pissed away to paying payments on things like loans and credit cards.
- I have all these financial responsibilities every single month. I don't have money that I can just pocket and keep and spend on frivolous shit. All that money goes right to bills and I don't ever see any of it.

Big shoutouts to you @Comma for this.

In order:

1) I don't "guess" based on chat. Twitch helpfully provides very specific identifiers, so all bits and subs are accurate barring my internet dropping and me missing chat. And even then overrustlelogs is a satisfactory backup. The tips are the only thing on Twitch with uncertainty. And in that case, any uncertainty is put in Phil's favor (typically manifested as a lower income). Patreon is easily tracked, and Youtube is given a range. I spell out every assumption I'm making.

2) Paypal keeps $0.30 USD + 2.9% of the total transaction. It's literally laid out on their website. Also, I thought Phil won literally every chargeback? I calculate the low end assuming every single tip is assessed this fee, so if the fee is charged only upon withdrawal to a bank account, Phil's actual take is higher than what I say. Finally, I don't know exactly when Phil gets his payments from Patreon, but Youtube and Twitch also literally put that information on their websites. As for his tips? I just assume he pulls them the same day...you know, like he says he does.

3) I'm going to assume I'm the 1 out of 10.

4) Not wrong, but that's your problem, Phil. Reduce your discretionary spending by not going out shopping for non-necessities literally every week. When you're likely spending $200-$400 a month eating out just on the days you're "off", you could probably do better.

5) Literally everything is a bill in the technical sense, so this is meaningless.

Have a lovely day!

 

[David Davidson]

Speaking of taxes, if phil ACKTUALLY has no money saved up, how fucked is he for April?
I know a shitload of my money gets sucked up by taxes (~24% not including Social Security, Medicare etc.). If Phil hasen't saved up at all up to this point, he would be in serious financial trouble trying to start to save now.
Can you be on two payment plans to pay back your taxes? At what point do they just seize your assets/audit your ass?

 

[Equinox_]

Speaking of taxes, if phil ACKTUALLY has no money saved up, how fucked is he for April?
I know a shitload of my money gets sucked up by taxes (~24% not including Social Security, Medicare etc.). If Phil hasen't saved up at all up to this point, he would be in serious financial trouble trying to start to save now.
Can you be on two payment plans to pay back your taxes? At what point do they just seize your assets/audit your ass?

I'm not sure if it changes because he's a sole proprietor. But you can add another year's taxes to your installment plan they'll just add that tax and whatever is left of the previous years and continue the payment plan.

I'm not sure if there is a limit as I couldn't find one. But he can in theory add this coming tax season "debt" to his current payment plan. I imagine after you do this enough time like maybe the third year in a row the IRS will start getting a little curious.

 

[actually]

Speaking of taxes, if phil ACKTUALLY has no money saved up, how fucked is he for April?
I know a shitload of my money gets sucked up by taxes (~24% not including Social Security, Medicare etc.). If Phil hasen't saved up at all up to this point, he would be in serious financial trouble trying to start to save now.
Can you be on two payment plans to pay back your taxes? At what point do they just seize your assets/audit your ass?

@SoapQueen1 @marlintan

Paging the smart money people to the thread. Please pick up the courtesy phone.

 

[Muppetmode]

Speaking of taxes, if phil ACKTUALLY has no money saved up, how fucked is he for April?
I know a shitload of my money gets sucked up by taxes (~24% not including Social Security, Medicare etc.). If Phil hasen't saved up at all up to this point, he would be in serious financial trouble trying to start to save now.
Can you be on two payment plans to pay back your taxes? At what point do they just seize your assets/audit your ass?

Also depends on how many whales are in the water waiting/saving money

 

[DukeMorty]

Speaking of taxes, if phil ACKTUALLY has no money saved up, how fucked is he for April?
I know a shitload of my money gets sucked up by taxes (~24% not including Social Security, Medicare etc.). If Phil hasen't saved up at all up to this point, he would be in serious financial trouble trying to start to save now.
Can you be on two payment plans to pay back your taxes? At what point do they just seize your assets/audit your ass?

I'm not sure if it changes because he's a sole proprietor. But you can add another year's taxes to your installment plan they'll just add that tax and whatever is left of the previous years and continue the payment plan.

I'm not sure if there is a limit as I couldn't find one. But he can in theory add this coming tax season "debt" to his current payment plan. I imagine after you do this enough time like maybe the third year in a row the IRS will start getting a little curious.

I was looking into this too and basically, you are right. It seems you can modify the current Installment Agreements (IA) to include a new amount. Now what I also found out is that if you don't tell the IRS that you want to modify your current IA and just apply for a new IA then the IRS will automatically Default the Old IA. This means that the IRS can garnish his wages, seizure of assets, and freeze his bank and investment accounts.
Also, there are other ways the pigroach can Default on his IA:

"If your monthly payment doesn’t go through or if your check bounces, the IRS considers that to be a payment plan default. An IRS installment agreement default may also happen in other situations. Namely, if you refuse to provide financial information as requested or if the IRS finds out that you provided incorrect information when applying for your payment plan, you may be in default. Additionally, if you obtain a new balance, or fail to file a tax return, your payment plan can also be terminated. Finally, if you fail to make required estimated tax deposits or estimated tax payments, this can lead to default as well." (Source: https://www.taxdebthelp.com/tax-problems/irs-letters/cp-523)

 

[Adamska]

Yesterday DSP talked ranted about people estimating his monthly income.

View attachment 940385
















Here are the main quotes, some of them paraphrased for brevity:

- No one actually knows what I make. Everyone tries to guess based on the chat and adding stuff up, but that doesn't equate to being an accurate number.
- People don't know how much PayPal keeps from transactions, who tries to charge stuff back and what I get when.
- People are completely wrong 9 times out of 10 when they try to estimate what I make. A lot of people completely overestimate what I make.
- It doesn't matter how much I make - I could be making a million dollars a month, but if I have that debt, it means that the million dollars gets pissed away to paying payments on things like loans and credit cards.
- I have all these financial responsibilities every single month. I don't have money that I can just pocket and keep and spend on frivolous shit. All that money goes right to bills and I don't ever see any of it.

Sounds like we're spot on with his six figures a month and he's arbitrarily saying no because we might be off at best by a few hundred at the end of a year.

 

[James Smith]

Can you be on two payment plans to pay back your taxes? At what point do they just seize your assets/audit your ass?

But you can add another year's taxes to your installment plan they'll just add that tax and whatever is left of the previous years and continue the payment plan.

I was looking into this too and basically, you are right. It seems you can modify the current Installment Agreements (IA) to include a new amount.

You can only do this before you owe more money. Since he already owes more money from not making estimated payments he might not be able to do this. If he waits until his taxes are filed he won't be able to do this.

 

[DukeMorty]

You can only do this before you owe more money. Since he already owes more money from not making estimated payments he might not be able to do this. If he waits until his taxes are filed he won't be able to do this.

Ok I am bit confused on what you said so let me see if I understand. You are saying since he declares himself as Self-employed, and as a Self-employed, he needs to pay the quarterly payments (QP). You are assuming he doesn't pay those QPs, which will mean he owes the IRS money. And if the IRS sees he wasn't paying those QPs then they probablywon'tt let him modify his Installment Agreement since he is degenerate who doesnt pay on time. Is that what you are saying???

 

[James Smith]

Ok I am bit confused on what you said so let me see if I understand. You are saying since he declares himself as Self-employed, and as a Self-employed, he needs to pay the quarterly payments (QP). You are assuming he doesn't pay those QPs, which will mean he owes the IRS money. And if the IRS sees he wasn't paying those QPs then they probablywon'tt let him modify his Installment Agreement since he is degenerate who doesnt pay on time. Is that what you are saying???

The IRS expects you to pay your taxes by the time they're due. You do that with estimated payments whether you do it daily, all at once the day before it's due, or something in between. If you don't make those estimated payments you're late. Part of your installment agreement with the IRS is that you will pay future taxes on time. If he doesn't pay 90% of his 2019 owed tax by the due date OR a dollar amount equal to 100% of his 2018 tax liability by the due date, whichever is less, he's late. If he's late he's in default on his installment agreement and he cannot get another and his existing one is void.

 

[DukeMorty]

The IRS expects you to pay your taxes by the time they're due. You do that with estimated payments whether you do it daily, all at once the day before it's due, or something in between. If you don't make those estimated payments you're late. Part of your installment agreement with the IRS is that you will pay future taxes on time. If he doesn't pay 90% of his 2019 owed tax by the due date OR a dollar amount equal to 100% of his 2018 tax liability by the due date, whichever is less, he's late. If he's late he's in default on his installment agreement and he cannot get another and his existing one is void.

You are saying for the Piggy to be qualified to MODIFY his current installment agreement (IA) he needs to pay 100% of the 2018 taxes or 90% of the 2019 taxes??? That makes no sense since the whole point of an IA is to allow you to get on a payment plan to pay the taxes you owe over a period of time. Even on the IRS's website about IAs it states to contact them if you cant pay future taxes so that way they can modify your existing IA to reflect that issue. So unless the Piggy is late on his current IA payments then he will default. Unless there is some rule on modifying IAs because I couldn't find any except just contacting them if you need to modify your existing IA, especially if you cant pay your next year's taxes.

Source: https://www.irs.gov/payments/payment-plans-installment-agreements
In order to avoid default of your payment plan, make sure you understand and manage your account.

• Pay at least your minimum monthly payment when it's due.
• File all required tax returns on time and pay all taxes in-full and on time (contact the IRS to change your existing agreement if you cannot).

 

[James Smith]

You are saying for the Piggy to be qualified to MODIFY his current installment agreement (IA) he needs to pay 100% of the 2018 taxes or 90% of the 2019 taxes??? That makes no sense since the whole point of an IA is to allow you to get on a payment plan to pay the taxes you owe over a period of time.

I'm saying he needs to modify his current installment agreement before his tax payment deadline OR pay an amount equal to 100% of his 2018 taxes or an amount equal to 90% of his 2019 taxes toward his 2019 tax bill THEN modify it after his deadline.

The key word is "before" because I wonder if that deadline is when the full balance is due or when his first 2019 quarterly estimated payment was due. I imagine it's when the full balance is due but if it's when his first estimated payment was due he cannot modify his installment agreement and is already in default.