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Just putting this here for future reference anytime someone says: "but I have never been audited on it"
#taxtwitter
AICPA SSTS 2.1.8(a)
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Tyler Menzer
21K posts
Tyler Menzer
@Tyler_Menzer
PhD CPA Assistant Professor at @TCU. Argues with people who agree with me. Official Matt. All views are my own. (He/Him) @ menzer on the other one
Katılım Temmuz 2010
815 Takip Edilen957 Takipçiler
@MaskedHottiee Food service is about flipping tables, 1 diner eating a meal for 2h is much less profitable than 2 diners eating for 1h each. This is especially true when you may only get 1-2 flips during the busiest part of the night
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@MaskedHottiee You suggest it is not a "per person" thing, but it 100% is...
It's about revenue/seat/night. If a party of 10 brings in cake and stays an extra 45m at the table, that is a loss of 10 people that could have been sitting at the table ordering dinner
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$16 per person is unconscionable yall are very unserious people
the german gentleman aka grubauer's #1 fan@midaeros
Replies like "I'll just keep my cake at home" Yes, that is ideal for both sides. The restaurant doesn't want to incentivize you to bring in food from somewhere else, make them cut it, and waste a table eating food you didn't buy from them
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@bsuecannon Yup. When strung up on fishing line, a bunch of CDs create a very random light pattern that birds appear not to like. I have heard it works when basically nothing else does. Not entirely sure if it will work with ducks, but I have heard it works for pidgeons and seagulls
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@Tyler_Menzer CDs? The round silver things? Because it reflects the sun?
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We have a duck problem in our pool. At first they were cute, then I noticed their nasty 💩, so they need to go. I asked them to leave, but they aren’t taking me seriously. What should I get to scare them away? I’m leaning toward the shark because I make a fun drink called Shark Bite. 😂
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Tyler Menzer retweetledi
Smart move by Iran. This makes them user fees that score as outlay reductions rather than a tax increase, which avoids violating the @taxreformer pledge.
OSINTtechnical@Osinttechnical
Iran says it will not toll ships in the Strait of Hormuz, instead charging fees for “environmental protection.” -IRNA
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@corsaren Without looking up anything, I would rate the question as 99% likely it is a yes. I have a whole section in my tax class where I have students debate whether a snuggie is a blanket or clothes.
Even before Trump, tariff and excise tax classification were enormously complex
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@rowanfornow The problem there is that UBI to be worthwhile needs to be a redistributive. You can stop inflation through offsetting taxes, but you are going to have a problem stopping the relative price changes (because the rich people you are taxing have different consumption patterns)
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@Tyler_Menzer raise taxes to mitigate it enough that the shininess of the checks politically outweigh the price increases
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I still believe the only way out of the affordability deflation vortex is UBI. You'll never lower prices to the extent people want, so you have to raise earnings in a way you'll actually get credit for.
Hydro Spinning@SenatorLuma
a lot of people are pretending not to understand that what americans want is for price levels to go down. they don’t care about real wage increases or inflation rates, they want nominal price levels to decrease. there is nothing you can do about this.
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@BlakeKellii @rowanfornow The OP was specifically talking about UBI as the "fix" for the affordability issue, though, which is where I was disagreeing.
If you want to have a conversation about there being real costs to your preferred policy, that is just being honest.
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@Tyler_Menzer @rowanfornow Well, that’s true but you could raise a lot of money cutting pollution in half I bet, and it’s also true that people apparently wouldn’t like it but that’s too bad for them, that’s between them and God as far as I’m concerned
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@BlakeKellii @rowanfornow Second, when income AND prices increase, people still get upset. During the most recent bout of inflation, real incomes increased (i.e. income increased faster than inflation), yet people were still quite angry. Higher prices + higher incomes is not a stable policy.
2/2
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@BlakeKellii @rowanfornow A few problems, first, you have to generally either choose to reduce pollution OR raise money. If you want to maximize revenue, you actually will still allow quite a bit of pollution. If you want to minimize pollution, you will not raise much money.
1/
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@bsuecannon Seriously though, I think the best bird repellent is actually stringing up CDs
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@BlakeKellii @rowanfornow That reduces inflation (an overall increase in prices) but not changes in relative prices, which people also get upset about (see tariffs)
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@number_pizza111 @DoorASHkeeper Do you just not do that many business returns? When I was working in PA, I generally saw a few loss firms a year. Its super common with any business that has Fixed Assets, and I wouldnt describe it as an edge case
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@DoorASHkeeper @Tyler_Menzer They just tell us this and demonstrate that it can happen in certain edge cases.
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If you work as a tax preparer the issue with Uber/Lyft becomes pretty obvious.
At IRS mileage rates, drivers hardly take home anything. We have to train for how to handle *negative* adjusted incomes because of them!
Alex Feinberg@Alexfeinberg
Judging by the comments, Uber & Lyft are effectively high yield payday loan companies as drivers are aware of the high depreciation rates of their driving but still drive because they need cash today
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@DoorASHkeeper You misunderstand me, I know what an individual NOL is...it is not that rare or uncommon, and is not that hard to deal with on a tax return...My confusion is that any competent preparer would need to "train" for this. I literally begin discussing this in my intro tax class
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@Tyler_Menzer After deducting your expenses, your gross income is negative. It normally occurs for businesses that are running a loss, and is rare for individuals. But with certain gigwork, like uber it can happen.
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How DARE these hipsters not use locally sourced banana leaves instead of normal to-go containers!
Stephen Nass@FoodFreedomNH
Stopped at a super hipster farm to table cafe in Michigan and look what pulled up:
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@kerckhove_ts Except in software development, if you can prolong thr pain long enough, you can still win the game 🤣
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There's a rule of thumb in Factorio: "avoid item/fluid buffers" which you only tend to learn after quite a while. (Buffers don't really save you, but do prolong the time before you find a broken process)
I think about this a lot in the software industry.
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Tyler Menzer retweetledi
I was worried that the UCSD math preparation report would *not* be a wakeup call, but it looks like there is coalescing agreement among UC STEM faculty that SAT should be reinstated.
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All the critics of Peter Thiel’s steroid Olympics have been silenced as Fred Kerley finishes astonishingly close to the (1968) world record
Enhanced Games@enhanced_games
World's fastest man at the #EnhancedGames belongs to Fred Kerley (9.97s). Captures the $250,000 grand prize.
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