Poli_FL_cpa

He should have used AI before the sale of the business lol! To advise him how to structure the sale, there is a big difference in ordinary and capital gains! Also, wonder if AI classified some of the gain to personal goodwill if applicable! There were many things to consider before uploading his info into an AI platform and brag about how well it performed!

@LoganGrafTax He claims to have sold a business for “1.8M” and is using Claude to report the installment sale. Even if the reporting is right, I couldn’t think of a worse time to want to save on tax prep fees.

AI is only a threat to terrible accounting firms.

@ogafroman Hahhahaha make sure you claim the the missing money on your tax return, lol causality and theft loss Hahahha!

My proooofs on the internet youtube.com/watch?v=HM8Ee6…

@Bostonbean90 @bradncpa I get what you are saying, I was more thinking from the practical standpoint and possible client exposure after an s-election, so I sent myself into a rabbit hole reading about it, like I have nothing better to do in the middle of tax season lol!

@Pv20008 @bradncpa The IRS lost those cases because all the prongs of section 269 were not met, NOT because section 269 can’t be applied to an S corp

At $80,000 to $120,000 in profit, an S-Corp starts making more sense than a Schedule C. The self employment tax savings alone can be significant depending on what a reasonable salary looks like. Some owners will wait on this switch because they think it is complicated. The entity change is straightforward when the books are clean going in. If you are in that profit range and still on a Schedule C, it's likely that you are overpaying on self employment tax. That is money leaving every year with no structural reason for it.

The original comment was regarding a CPA advising a client to make an S election at a certain income level. You brought up the anti-abuse statute, and I wasn't sure how it's relevant to the S corp election! Nowhere on the election form are you required to list your intentions, and I wondered even more if there was case law used as precedent where the IRS disallowed certain deductions using the statute in question for an S corp, concluding that the S election was made in order to evade taxes.

@Pv20008 @bradncpa I said there are many cases where the initial incorporation constitutes an “acquisition” within the reach of section 269. So I’m not sure what your argument is at this point. Are you arguing that an S election is not an incorporation for federal tax purposes?

@Bostonbean90 @bradncpa Agree on the SE avoidance not being congressional intent, but was unable to find a case where this specific section was applied to an s-corp and resulted in the gov winning the case! You mentioned you know of many, share so we can educate ourselves!

@Pv20008 @bradncpa You’re misunderstanding how sec 269 is applied. It can’t be used to disallow an election, But it can and is used to disallow the tax benefits that came from that election if those benefits were the principle purpose of the election. SE tax avoidance was never congressional intent

I would like to see at least one case where S-election was disallowed based on sec. 269! Please share! 2553 and 8832 elections determine tax classification(treatment) not the legal creation of the corporate entity. Incorporation is a state-level legal process, while these elections are IRS federal tax processes. “Modern Home Fire & Casualty Insurance Co. v. Commissioner, 54 T.C. 839 (1970): The Tax Court explicitly held that Section 269 does not apply to disallow an S election, even if the sole motivation was to offset corporate income against the owner’s losses. The court reasoned that enjoying Subchapter S benefits is “consistent with the intent of Congress” and thus not tax avoidance.”

@Pv20008 @bradncpa It covers S elections. Plenty of case law out there confirming that the initial incorporation of an entity constitutes an “acquisition” for purposes of section 269. And an S election constitutes an initial incorporation.

@Bostonbean90 @bradncpa To my understanding, Sec. 269 is irrelevant here! It covers acquisitions, not S elections! Feel free to correct me if I am wrong, but I do not find language in the statute addressing entity elections.

@bradncpa Uhhh have you read section 269? You can’t elect to be an S corp for the principal purpose of saving on tax

Deloitte report on AI, interesting read!!! deloitte.com/content/dam/as… #tax #TaxTwitter #AI

Yep interest free loan! No imputed interest when IRS is the recipient! -#taxes #TaxFriday

@BarbellFi While it's a good idea, the taxman will get involved—there is no such thing as an interest-free loan.

When my son is ready to buy a house We’ll loan him the full purchase price He’ll make monthly payments to us 30 year mortgage at 0% interest Thanks to the bank of Mom & Dad 💰

Just having some coffee and getting ready for a fun-filled day at work. Refresher on some Tax Court hall of shame: • Al Capone: Guns? Nah, taxes did him in. • Leona Helmsley: “Little people pay taxes”—says the billionaire who got jail time. • Chesty Love: Deducting boob jobs as “biz tools”? Denied! • Ugly mini donkeys: Hairball hobby losses? Approved. IRS: Where dreams die hilariously. Your fave tax flop? 😈💸 #TaxTwitter #CPALife

@TropicalTax @IRStaxpros What if they reorganize, restructure, and their new occupation is an OnlyFans influencer (aka model)???

On today's @IRStaxpros webinar I learned that prostitutes and porn stars CANNOT deduct tips when they file. Curious who has these clients. What say you #TaxTwitter ?

Just in time lol! Wonder how many individuals already filed!!!! IRS published schedule taxpayers will use to claim deductions on no tax on tips, no tax on overtime, no tax on car loans, no tax on seniors irs.gov/newsroom/irs-p…

@BrianDavisTax LOL, what can I say? This tax advisory statement beats a WY LLC structuring!!!

Do you and your spouse make over $250,000 per year? Congrats, you're paying the government over $65,000 in taxes But here's what's crazy...... You Can Pay Them $0 Here's how it works ⬇️ You just don’t pay them. If they call you just say new phone who dis and they go away

With tax season underway, millions of Americans are gathering the necessary paperwork to file their income tax returns, which for many is a time-consuming, resource-intensive, and tedious task. How does your state compare? hubs.ly/Q043V-Mh0

“§163(j) planning alert for 2025+: OBBBA restores EBITDA-style ATI (add back dep/amort/depletion) → 30% limit often much higher for capital-intensive biz. More deductible interest now! Key strategies: •Maximize ATI in ’25 (accelerate deductions? time capex?) •Model carryforwards •Revisit real prop/farm opt-outs 
2025 sweet spot: Use dep add-back to boost ATI & deduct more interest. Consider accelerating large carryforwards from prior years while limit is generous. But heads up—2026+ change: Elective interest capitalization no longer bypasses 163(j) (applied first, except mandatory under 263A(f)/263(g)). Old workaround gone! Plan debt/interest timing accordingly. 
Don’t forget small biz exemption: Avg gross receipts ≤$31M (2025 threshold, indexed) = full interest deduction, no limit. Aggregation rules apply—review controlled groups! For leveraged clients: Restructure debt, generate biz interest income, or elect out if qualifying trade/business. #CPA #TaxTips #BusinessTax #TaxTwitter

FICA Tip Credit for employers irs.gov/businesses/sma…

im very busy and i dont have the time, but some rando on the internet posted a personal financial planning question and he's getting a bunch of bad answers and I NEED TO CORRECT THE INTERNET

@BuffCpa @Taxsavvyjessica @Budgetdog_ Haha! Same, waiting for AI to crank out 48 multi-state 1065! Plz!! Losing it over all the PTE, composite, franchise & withholding state reqs & tax planning!

@Taxsavvyjessica @Budgetdog_ So AI can't do this for free now? I'm confused.

🚨HIRING: Tax Advisor – Real Estate & Small Business (Remote)🚨 About Budgetdog Tax & Advisory Budgetdog Tax & Advisory PLLC is a real estate–focused CPA firm providing proactive tax strategy to real estate investors and small business owners across the U.S. We don’t just file returns. We help clients understand their tax picture, legally reduce liability, and make smart financial decisions year-round. We operate fully remote and prioritize clarity, education, and client trust. Position Overview: We are hiring a client-facing Tax Advisor focused on: - Tax strategy - Client education - Relationship management - This role does not prepare or review tax returns for filing. You will review prior-year returns, identify planning opportunities and risks, and lead proactive strategy conversations. The ideal candidate is confident on Zoom and can explain complex tax concepts clearly and simply without losing technical accuracy. Key Responsibilities: - Conduct four 1:1 strategy calls per client annually - Lead community Q&A calls - Review 1040, 1065, and 1120-S returns - Identify missed opportunities and planning gaps - Educate clients on real estate and small business tax strategies - Translate tax law into clear, actionable guidance - Document recommendations in TaxDome - Collaborate with prep and compliance teams - Stay current on tax law changes impacting real estate and small business owners Qualifications: - Bachelor’s degree in Accounting, Finance, or related field - CPA or EA preferred (not required) - 4+ years tax or advisory experience - Strong understanding of 1040, 1065, and 1120-S returns - Confident leading 1:1 and group client conversations - Strong Zoom presence - Remote work experience - Drake and TaxDome experience a plus What Success Looks Like: - Clients leave calls feeling clear and confident - Strategies are explained simply - Opportunities are identified before filing - Long-term trust is built - Advisory and compliance teams stay aligned - You confidently manage live Q&A Compensation & Benefits: - Starting salary $100,000+ (based on experience) - Fully remote - Health insurance - 401(k) - 15 days PTO - Growth opportunity in a fast-scaling firm - Work with sophisticated real estate and business owners How to Apply: Send me a DM with a video on why you feel we should hire you.

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