DSP's Loan & Savings Company

I think too it is so dependent on what he actually owes, sounds weird I know but hear me out

Say he owes 250k altogether Its actually more including houses and gone over credit cardsso lets say 350k. His earnings are about the same, @actually I have been out the loop for about 5 months in earnings is it looking about the same as last year. I know there has been no major whales yet so that will affect his outcome but if he is making about 100k he is still owing 20k in tax minimum to the IRS plus state taxes.

So my personal bet is he is going to ask to put that on another payment plan but its going to just keep mounting up. Also they could deny him that repayment and ask to actually investigate his spending because in the end if he is earning 100k and not putting it away and going on payment plans the companies usually have a tolerance limit.
 
Sparkletor said:
Has anyone here ever been in Phil's tax position? What would a monthly payment be? How long could you go without making a payment?
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The closest I've been to Phil's position is one year after doing taxes, I got a letter saying "You fucked up, you owe us ~$100." The letter was nice enough to tell me where I fucked up my math, to contact them to sort it out, and that payment plans can be discussed if paying that ~$100 would create a financial hardship. The main thing I took away from it was that the IRS knew exactly what I owed them. So when Phil started doing his "The IRS wants money, but don't know how much I owe" I had to question the truth. Granted, I was employed and he is self-employed and YouTube tax documents are different. But the IRS can do the leg work if they know it's wrong and fix it for you. But instead, oh, he needs to talk to a professional, and pay him, to figure out what the IRS wants. I don't buy it. If the IRS didn't know, they would do the math themselves and figure it out, then send you a letter; or maybe even dispatch an auditor to go over all your tax documents and shit with you. Instead, they wrote a letter saying "We don't know where or how, but you're in the wrong." I don't buy it, shit stinks.
 
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Kheapathic said:
The closest I've been to Phil's position is one year after doing taxes, I got a letter saying "You fucked up, you owe us ~$100." The letter was nice enough to tell me where I fucked up my math, to contact them to sort it out, and that payment plans can be discussed if paying that ~$100 would create a financial hardship. The main thing I took away from it was that the IRS knew exactly what I owed them. So when Phil started doing his "The IRS wants money, but don't know how much I owe" I had to question the truth. Granted, I was employed and he is self-employed and YouTube tax documents are different. But the IRS can do the leg work if they know it's wrong and fix it for you. But instead, oh, he needs to talk to a professional, and pay him, to figure out what the IRS wants. I don't buy it. If the IRS didn't know, they would do the math themselves and figure it out, then send you a letter; or maybe even dispatch an auditor to go over all your tax documents and shit with you. Instead, they wrote a letter saying "We don't know where or how, but you're in the wrong." I don't buy it, shit stinks.
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Odds are that's the kind of letter Dave got too.
When I underpaid my taxes, I got the same letter. Basically saying "You fucked up. You can either go to www.irs.gov to pay or setup a payment plan or dispute us and show your work - your call". That's about the extent of the 'audit' these days. Rarely does it require a face to face meeting, and even rarer for there to be an audit like we think of them.

Funny thing is if Dave had used a real tax guy to do his taxes and then got that audit, usually the tax people would eat the loss - they guarantee the accuracy.
 
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Something else to speculate about: Since Phil & Kathy still seem to maintain themselves as separate financial entities despite being married are they going to file taxes jointly or separately when tax time rolls around? Or is Phil just going to take all her information and dump it on his Tax 'Attorney, CPA, Guy, Whatever' along with his and just tell him to do his magic? Would Kathy even consider not getting a refund to bundle their finances together for tax purposes so they pay less total money as a couple for taxes? Maybe she was counting of her tax return to buy a new gamer toy and will refuse?
 
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Sparkletor said:
A while ago I posted questioning how Phil maxed out a credit card and spent his entire life savings going to Evo. Well, today we got the answer.

"When you go to Vegas you need to get the fanciest most expensive hotel room you can"

There you go.
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And I'm willing to bet EVO didn't have enough clout to get group rates that year. If you stay at the fanciest/most expensive, you're talking the Mandalay Bay... and that's almost $230 for the basic room with group rates. Sure the current prices have gone up since Phil's days; but not as much as you'd think. It's the Bay, they're allowed to charge what they want. Take weekend rates (higher than average) and EVO happens in the summer (peak tourist season). Then he probably ate at all their in house restaurants for every meal (3+ a day). Then got souvenirs and other shit too.
 
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Muppetmode said:
I wish I marked it down, but Phil recently said he made a big tax payment. Can’t remember if it was during the 11/24 wwe stream or the 11/25 Pokemon stream
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Immortal Technique said:
It came up during his "tour" of his Minecraft village when visiting the tax office he built in the game. (Date 11/25 Timestamped 00:42)
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April 15, 2019. June 17, 2019. September 16, 2019. Those are the dates in 2019 for 2019 quarterly tax payments (the last being January 2020). Sounds like Phil hadn't been keeping up with his tax payments and had to scramble. State taxes aren't due until Jan 2020 as well.
 
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actually said:
April 15, 2019. June 17, 2019. September 16, 2019. Those are the dates in 2019 for 2019 quarterly tax payments (the last being January 2020). Sounds like Phil hadn't been keeping up with his tax payments and had to scramble. State taxes aren't due until Jan 2020 as well.
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Quarterly tax isn't mandated, it's just a convenience for the business owner. It's especially handy for store fronts with employees and small margins.

Dave's situation is pretty static, there shouldn't be any surprises on what he owes... But we know he'll be surprised
 
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Just some randoms things I noticed:

- DSP hasn't reached his daily tips goal of $200 (or $100 for when he did only one stream on a day, like Ask the King) since November 29th - a sign of his supporters saving up for big contributions for (the lead-up to) the Christmas event?

- I haven't heard him complain about his bank account being overdrawn since the end of October (but I could have easily missed it), so in two days that's a streak of two paychecks - PigPigGo also doesn't show any results newer than October 29th when using corresponding keywords.

- DSP bought a small Christmas tree for "under $30" while still owning a big tree that "held up" and is still "beautiful" (I think he tried to link the purchase to them being afraid Jasper would mess around with the big tree or something), less than a week before he gets his Twitch paycheck. Clip:


















This all seems so different from how he usually comes across money-wise.
 
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Comma said:
- DSP hasn't reached his daily tips goal of $200 (or $100 for when he did only one stream on a day, like Ask the King) since November 29th - a sign of his supporters saving up for big contributions for (the lead-up to) the Christmas event?


This all seems so different from how he usually comes across money-wise.
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I didn't say anything about the tips goal for the November roundup (mostly so as to not encourage the 101st Rolling Wheelchairs), but Phil only got $200 in a day a few times during the month. His tips goal has not really worked in the sense of pushing the daily tips to $200 or more.

As for why the lesser amount of begging? Well...I'd guess he's counting on getting a large amount of money from his Christmas begathon, and let's be honest, he's probably right. Wouldn't be surprised if Jeff shows up with another $1000. I'd guess harder begging will come once he has his tax numbers around January or so. That's also when he'll have to make his 2019 state B&O tax payment. Assuming his income is in-line with previous years, that'll be somewhere in the ballpark of $1500-$2000 lump.
 
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actually said:
I didn't say anything about the tips goal for the November roundup (mostly so as to not encourage the 101st Rolling Wheelchairs), but Phil only got $200 in a day a few times during the month. His tips goal has not really worked in the sense of pushing the daily tips to $200 or more.

As for why the lesser amount of begging? Well...I'd guess he's counting on getting a large amount of money from his Christmas begathon, and let's be honest, he's probably right. Wouldn't be surprised if Jeff shows up with another $1000. I'd guess harder begging will come once he has his tax numbers around January or so. That's also when he'll have to make his 2019 state B&O tax payment. Assuming his income is in-line with previous years, that'll be somewhere in the ballpark of $1500-$2000 lump.
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he mentioned a week long tips goal for christmas, which will probably be the 2k he needs for b&o

planetjeff has probably already emailed him behind the scenes about a big dono, so anything on top is speficially to debunk detractors, and prove he is successful
 
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Since alotta peepul were asking due to the 'Foreclosure Saga', 'Where did all Phil's YouTube money from before moving to Washington go?' and I was also curious, I went looking. I had heard it mentioned several times that before the YouTube money started rolling in Phil had been in quite a bit of debt. As you listen to Phil here a pattern seems to emerge.

Phil, in his own words, had been just racking up credit card debt his entire adult life. He got the receptionist gig at the helicopter parts warehouse at the end of 2006, and instead of paying off his credit card debt he made minimum payments, then bought the CT condo in 2009 for $130,000 while still having credit card debt. This video is from Thanksgiving 2012 and he is talking about how the YouTube money has allowed him to finally ALOMST pay off his credit card debt. Around this time he started leasing a BMW. In 2014 he bought the Wakando, paid for the entire move with credit cards, and began leasing a different BMW after returning the old one. Essentially with the downpayment on the Wakando as soon as he saved up any money he immediately sank it into saddling himself with a 2nd mortgage and racked up a shitton more credit card debt doing so.

If anyone knows anything more specific about how much his pre-YouTube debt was I'd be interested to hear.
I found this fairly illuminating. Big ups to https://PigPigGo.net for adding 'Start Date' and 'End Date' parameters to their search functionality. Timestamped at 5m06s
 
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