[26-Mar-2020] Philip's 341 Creditor Meeting - When what should be 5 minutes becomes an eternity.

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Also remember, DSP's $5K in personal expenses DOES NOT include the $3K in credit card monthly payments he would be making before and if his bankruptcy is denied.
 
Am I the only one completely unaware that DSP's middle name was Paul?

Phillip Paul Burnell.... truly a name for a slime ball
 
Haunter said:
Sorry for the delay with updates. I've edited the OP to include info on @nohandsboi. Since he hasn't returned to the site since the day of the call, we don't actually know whether or not he's legitimate and purchased any of Phil's debt.
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I think at this point he’s not coming back. A lot of people are pressing x to doubt and it looks like we won’t find out, at least for now. Top notch gay ops, if that’s what it was. He raised some good questions and didn’t sperg out for the most part.
 
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Rausch said:
This really reminds me of China. Anyone who has been even for a short time knows about the mainlanders' habit of public throat clearing, usually soon accompanied by spitting phlegm. Utterly disgusting of course and there are undoubtedly power move aspects to how they do it. It's peculiar to think of DSP using the same moves as a Chinese peasant; snorting and belching in the vicinity of both detractors and sincere fans alike.
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Its very ironic, considering Phil’s history of vehement Racism against Asians, or “chinky Charlie Chan’s” as he liked to call them frequently.
 
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Phil claims ~5K a month to run his business

Itemized list of known things he needs to run the streams/upload his trash to Youtube. (Feb-Mar)

Internet line - did some research and found you can get gigabit for about $80 a month. Phil probably doesn't have that but lets give him the benefit of the doubt and say it cost $120-140 for what ever he has

Electricity - average in WA is $88, BOTD $120-140 again cuz muh streams eat the electricity.

One time cost of consoles/Systems -

PS3 = $600 at launch
PS Vita = $249-299 at launch depending on config
PS-VR = $400 at launch
PS4 = $400 at launch (Not functional according to Phil)
PS4 Pro = $400 at launch (Was donated to Phil)
Xbox 360 = $299-399 depending on config
Xbox One = $500 at launch
Nintendo 3ds with capture card = $400 pre-installed (Guesstimate) Not a lot of info on how much this would cost
Nintendo Wii = $249 at launch
Nintendo Wii U = $299 at launch
Nintendo Switch = $299 at launch
PC#1 = around 1-1.5K (CT PC)
PC#2 = 3K (The Lemon)
I-PAD = $$Apple (Doesn't function)

Non of these came out / were purchased in the last Year

Annual Subscriptions -

PS Plus = $60 (The one he uses the most)
Xbox Live = $60 (Scarcely uses his xbox online)
Nintendo Online = $20

Micro-transactions - Unknown (Doesn't buy DLC/MT on stream for games often)

New AAA $60 Games purchased for the months of Feb-March -

Nioh 2
Animal Crossing: New Horizons
Doom Eternal
Granblue Fantasy: Versus
DBZ: Kakarot

These 2 months were very heavy with new releases

Old games purchased for lower cost due to age/discounts $200 (Guesstimate)

New Equipment (buahahahahaha) $0

Maintenance on said Equipment (buahahahahaha) $0

Cellphone - Iphone = $$$Apple (It's personal Dood FFS)

Realm of Gaming Costs = WTF does this mean????

My Totals = $900 is a generous total for this time frame.

Feel free to add to this
 
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TrophiHunter said:
Phil claims ~5K a month to run his business

Itemized list of known things he needs to run the streams/upload his trash to youtube.

Internet line - did some research and found you can get gigabit for about $80 a month. Phil propably doesn't have that but lets give him the benefit of the doubt and say it cost $120-140 for what ever he has

Electricity - average in WA is $88, BOTD $120-140 again cuz muh streams eat the electricity.

One time cost of consoles/Systems - PS3 = $600 at launch
PS Vita = $249-299 at launch depending on config
PS-VR = $400 at launch
PS4 = $400 at launch (Not functional according to Phil)
PS4 Pro = $400 at launch (Was donated to Phil)
Xbox 360 = $299-399 depending on config
Xbox One = $500 at launch
Nintendo 3ds with capture card = $400 pre-installed (Guesstimate) Not a lot of info on how much this would cost
Nintendo Wii = $249 at launch
Nintendo Wii U = $299 at launch
Nintendo Switch = $299 at launch
PC#1 = around 1-1.5K (CT PC)
PC#2 = 3K (The Lemon)
I-PAD = $$Apple (Doesn't function)
Non of these came out / were purchased in the last Year

Annual Subscriptions - PS Plus = $60 (The one he uses the most)
Xbox Live = $60 (Scarcely uses his xbox online)
Nintendo Online = $20

Microtransactions - Unknown (Doesn't buy DLC/MT on stream for games often)

New AAA $60 Games purchased for the months of Feb-March - Nioh 2
Animal Crossing: New Horizons
Doom Eternal
Granblue Fantasy: Versus
DBZ: Kakarot
These 2 months were very heavy with new releases

Old games purchased for lower cost due to age/discounts $200 (Guesstimate)

New Equipment (buahahahahaha) $0

Mantinance on said Equipment (buahahahahaha) $0

Cellphone - Iphone = $$$Apple (It's personal Dood FFS)

Relm of Gaming Costs = WTF does this mean????

My Totals = $1,000 is a generous total for this time frame.

Feel free to add to this
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You're combining one-time purchases with annual subscriptions and monthly expenses. Not super helpful, especially when some of the things you estimate (electricity, for instance) are listed under his personal expenses in an amount that suggests he's probably not counting a percentage of the total to his business. We also don't know what he would report for the expenses for the month. I'm working on one for July 2019, where we have the amount that he claims as business expenses and what he claims for personal expenses. It should provide a clearer picture of the gap between reality and what he's claiming.
 
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actually said:
You're combining one-time purchases with annual subscriptions and monthly expenses. Not super helpful, especially when some of the things you estimate (electricity, for instance) are listed under his personal expenses in an amount that suggests he's probably not counting a percentage of the total to his business. We also don't know what he would report for the expenses for the month. I'm working on one for July 2019, where we have the amount that he claims as business expenses and what he claims for personal expenses. It should provide a clearer picture of the gap between reality and what he's claiming.
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I didn't add any of the consoles cost to the total, and I was being very generous here. I should have posted the time frame when I was adding totals (Feb-Mar) but I did add the Subscriptions like 1 time purchases my bad
 
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DSP's Business Expenses Monthly:
$500 - Video Games
$200 - Internet and Electricity

That's it.

Even video games is optional. He can go a month or several without buying new games if necessary.

There's a reason why most Twitch video game players are a bunch of college kids: there are no fucking expenses if you already have internet and the game. Just a one time cost to get the computer setup and capture card.

DSP could literally go the entirety of April if he wanted to with his only business expense being his internet line and a few extra bucks on his electric bill.
 
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TrophiHunter said:
Since this is a personal filing I wonder if Nancy will be looking into what exactly his business expenses are and if she just assumes that 5K is correct because she is ignorant of what it takes to do a live stream in Phil's situation. Phil treats his business expenses like classified military black ops, everything is redacted.
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She cares, she just didn't get this far into his nonsensical filing to figure out this glaring lie. The meeting had been going on over 40 minutes and it was lunchtime. She was just ready to move on with her day when she ended the questioning.

It would be so easy for someone like Phil to inflate their expenses in order to get a more desirable outcome to their bankruptcy, so all of his figures will be scrutinized down to the dollar, they aren't taking Phil's word for it. I'm sure she'll start working on this nightmare this week.

actually said:
Whole place is 1610 sq. ft. I would venture a guess that maybe 150-200 sq. ft. would be a generous estimate of the office space.
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Something of note is although he can expense this shit on his taxes, this is one of the business expenses that don't apply to his bankruptcy O&N expenses. I remember reading this somewhere but can't find the link ATM. I think the logic is that whether or not he had the business, the cost of his home is the same, so the business just existing in his gout-room doesn't decrease his income at all.

For example, if he quit streaming and went to work at Fred Mayer's, he won't be buying PS4's and paying for business class Internet, but he'll still have to pay his mortgage, cell phone, and electric bill, among other things Phil claims are reducing his income. And if Nancy considers vidya games as capital expenses, he won't even be able to use those purchases either.

Edit:

After writing the above, it occurred to me this is probably what Phil is doing with his expenses: he's double-dipping. He claims 100% of his mortgage as a personal expense on his Schedule J, then also considers a portion of it as a business expense. He is essentially subtracting it down twice, once on the Schedule J as a personal expense, and then again on the Means test inside of his "business expenses".

In fact this is exactly what he is doing, and as many has suspected, his business expenses are also list as his personal expenses. Think about it, he admitted that he claims his cell phone as 100% a business expense, but guess what? Its listed as $160 on his Schedule J! The same with his utilities and his mortgage. Maybe this has already been pointed out, but I just noticed it now... yeah he's fucked.
 
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darkwingosonichugorl said:
I think Phil still has the highest "business" internet plan with Xfinity, which is $180/month after introductory plans. Which is a complete waste btw.
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he's also entitled to a percentage of his mortgage as an expense, depending on how many ft^2 his office is

that same percentage can be applied to water, gas, electricity, and household upkeep/maintenance

then he probably has office equipment as expenses, however it's probably ink & paper to print recipes and game guides

he's also probably claiming his tax bill from 2018 as an expense

you could probably tally his entire games catalogue for a year and average it out to a monthly figure
 
Salubrious said:
$500 - Video Games
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Fun fact, this is high :lol:

JohnnyBoi said:
"Once she has the Paypal statements and income tax filings, she'll have the info she needs."

Are we sure phil is going to be honest and not try to mask earnings?
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He had accurate monthly income numbers in his filing. He failed to list at least one paypal account on the initial filing. On the amended filing, he seems to have added the 2nd, but he also appeared to have timed things so that one of the paypal accounts was empty.
 
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JohnnyBoi said:
"Once she has the Paypal statements and income tax filings, she'll have the info she needs."

Are we sure phil is going to be honest and not try to mask earnings?
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I think Phil's masking what he's spending his Paypal on, not his earnings. He wishes he could have hid his earnings, but then there was 0 chance this bankruptcy would go through.
 
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Salubrious said:
Yeah, $500 implies two new $60 games every week.
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I should probably clarify that I'm not mocking you. I just tallied up how much he spent in July on games (when his "expenses" were just over $9000), and it was $170.

Edit: Fuck it, I'll just go ahead and put up the numbers I've come up with.

These are the business expenses I've come up with for Phil during July 2019. He claimed total expenses of $9,086.95 for the month on his Income and Expenses form.

Games Purchased:

Wolfenstein: Youngblood ($30)
Marvel Ultimate Alliance 3 ($60)
Dragon Quest Builders 2 ($60)
Stranger Things 3: The Game ($20)

Total = $170

Equipment:

Hori gamepad (gifted by grazydream)

Total = $0

State B&O (assuming $1800 a year = $120,000 gross income): $150
2019 Federal Tax Payment (assume he's saving monthly for the quarterly payments): $1500
Internet Line: $200 (one is for personal and should not be claimed)
Equipment Maintenance: $0
XBox Live Membership (annual divided by 12): $5
PSN Membership (annual divided by 12): $5
Nintendo Switch Online (annual divided by 12): $1.67

Total = $1861.67

THINGS LISTED IN PERSONAL EXPENSES:

WA mortgage (in full)
Utilities (probably in full)

Total = $2,037.67

So here's the thing. He can't claim the entirety of the federal tax he has to pay. He can only claim the "employer" portion of it. I have no idea how to calculate that (and neither does he), so I just listed the whole amount. In addition, he listed the entirety of his mortgage payment in the personal expenses, so unless he's stupid enough to be double-dipping on it, he isn't claiming that. Similarly, his electricity/water/sewer amounts seems to be roughly the full amount. He hasn't bought any equipment since early 2019 (the PS4 Pro and TV). He only "premiered" the 4 games listed during the month of July. He potentially purchased Mario 64 on WiiU, but he also received at least $55 in Nintendo store credit during July 2019 as well (the 12th and 18th, according to the wishlist). He was also gifted a Hori controller by grazydream to play Mario Maker 2. This was the controller he immediately bitched about.

So my question to anyone reading this: what am I forgetting? I'm $7000 off from what he claimed. Obviously, he's probably trying to claim the WWE Champions microtransactions (@BT9494 and @tzgnilki, were there any big events going on then?), but I feel safe saying he didn't drop $7000 on it. Someone tell me what I'm getting wrong on this, because I honestly expected to get a little higher.
 
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