Marcus A. Mire, CPA

@LoZabransky Well… what ate you gonna do?

Is my little cutesy TikTok account, or the inaccurate tax advice they publicly give on social media that lacks economic substance (in my opinion) more damaging? #taxtwitter

@DianeGilabert Signed up! This is a great idea

I finally decided to write down the M&A tax war stories, due diligence disasters, F reorg issues, QSBS problems, and “how did THIS happen?” moments from deals. Launching a free weekly newsletter: M&A Tax Brief Subscribe here: …t-hopkins-llp-5bisob.subscribepage.io

@DianeGilabert @AccountingAsArt @Padres Also… Petco is a great place to watch a game. Super cool!

@DianeGilabert @AccountingAsArt @Padres I’m working on it Diane! I’m sold!

It's TIME!!! #FridayWins!! NO WIN TOO SMALL!!!!! Let's celebrate the victories we've had!! - I am packed for vacation! - I still got some returns out the door this week! - Things are starting to actually be green here!!

@DianeGilabert Ouch. It’s the worst when 751 EXCEEDS the total gain creating a capital loss!

Client expectation: all capital gain. Actual result: hello §751. What’s your go-to way to break that news? #MandATax #Deals

@DianeGilabert Send me a DM please. I couldnt get to yours. Thanks!

Client: “I’m selling my business.” You: “I don’t do this every day.” That’s where I come in—structure, deal terms, tax modeling. You keep the client and handle compliance. #TaxTwitter #MandATax

@Wolsoncpa @CPATaxTeam Dang…

@CPATaxTeam It’s a nice fairy tale, nothing more.

Not enough people realize that Easter is the biggest day of the year. Without Jesus’ resurrection, nothing else matters in terms of the afterlife and salvation. Christmas gets the accolades but Easter is the GOAT.

@CPATaxTeam Agreed. But you still have ding dongs on other platforms dismissing AI as AOL or Netscape navigator

The future for professional services firms is changing rapidly. A $2mm revenue firm should consider hiring a technology role over another professional. Scalability will be key as the labor pool adjust to a new normal.

@cordes_tax touche

@MireCpa It could be that I hate not being familiar with it. 😉

I don't think I hate Xero. I just think I only get in it once a year for 2 clients. So, I shouldn't say I hate it. Right?

@msmith_cpa @cordes_tax curious why you'd ever want to make an AJE to cash. That's what I LIKE about it... plus the reports are HANDS DOWN better and easier to customize... so much flexibility

@CPATaxTeam @LoganGrafTax gotcha... we're figuring out Claude's place (among others) in our firm. Wild times!

@MireCpa @LoganGrafTax We don't put sensitive information in Claude. We use it mostly to create generic schedules/documents and then edit.

I've been testing out the Blue J AI tax research platform for the past couple of weeks… It's become my default AI for tax research. #sponsored Blue J gave me a free trial and partnered with me to share my experience during tax season. (reply with a bird emoji 🐦 if you've already tested it out) It's built specifically for tax research and isn't a general AI tool trying to answer tax questions, so I have a lot of confidence in its output. Over the last couple of weeks, I've used Blue J to: 🔹 Write a client newsletter about the IRS no longer accepting checks 🔹 Respond to a client email with complex “quick questions” 🔹 Research state filing requirements 🔹 Explain the expense allocation for a rental property used personally 🔹 And look up everything else tax related that's under the sun What I like most about BLue J: 🔹 It's easy to use 🔹 Clear explanations you can actually follow 🔹 The UI is so clean State work is not a threat to me anymore. If you're in tax and want to try it… Blue J is offering a free 7 day trial (no credit card at sign up) and then 20% off (automatically applied at checkout) for my audience. But the offer expires March 31, so start the free trial NOW to see how great Blue J is for yourself.

@CPATaxTeam @LoganGrafTax @CPATaxTeam how are y'all handling sensitive docs w/Claude specifically CoWork? I'm just kicking tires w/Claude so haven't looked at the security yet

@LoganGrafTax $2500 to do research that Claude can do included with our CoWork subscription?

@jasononfirms Just use @Xero. So much better

Seriously tho what even is this

Keep shooting, 10!

@ignatiuscpa Bro... I can't even

@MireCpa It’s beyond ridiculous! 🤦🏽‍♂️

Is this really where we’re at as a society? Arguing discrimination to THE SUPREME COURT but can’t define the thing they’re discriminated from competing as

@karbonhq users... is there a workaround to get notified when clients upload files to K4C that AREN'T tied to a client request? We have lots of clients that provide documents to us year round for ease but we're NOT getting notified. Build something using the API? #TaxTwitter

@natesosa_CPA Agreed. I’m def advising grouping of equip rental leasing LLC w Op Co where leasing LLC’s only reason for existence is to lease to Op Co. THAT is an economic unit IMO

@MireCpa Yeah I mentioned two biz’s can make it happen and what you describe is possible But triple NNN to a charter school is not gonna fly

Pace’s tax guy needs to help him because the IRS is ACTIVELY targeting chartering planes right now Here’s why: Passive loss rules (IRC 469) Normally this hurts real estate more. It actually hurts equipment leases even worse When you triple net lease it, you’ve given yourself a ‘no way out’ part of the code You have to be ‘active’ to deduct this against other ‘active’ income And equipment rentals NEVER get this regardless of the hours you spend unless: 1. You rent it less than 7 days at a time OR 2. You provide extraordinary services (provide a flight crew) The only shot left is you have is maybe grouping two similar businesses with it that you ARE actively working in But that gets blown up by the IRS 99.99% of the time because its never legit Oh yeah, the IRS is ACTIVELY targeting chartering of planes going forward (new little checkbox here) And they ask for 500 pages of documentation during the audit (Links below me).

@natesosa_CPA Scratch the 2nd part of what I said… identical ownership only supersedes the “insubstantial” concept

@natesosa_CPA Gotcha. Even if the only reason for the separate entity is to own equipment used in the op co? Also.. going from memory.. doesn’t the identical ownership supersede the economic unit requirement?