ambtrader

@Kidai_0001 @amrndci @Geiger_Capital And Tim Apple.

@Kidai_0001 @amrndci @Geiger_Capital What about Bessent? He’s pretty gay.

The NYT is a meme at this point… "Why doesn’t this summit between global superpowers look diverse like the movies?"

@B_Wallace_in_GA @thegameisJJD @FatSlayer69 @jrhall77 @yonann No but you can explain to the irs agent, under the penalty of perjury (ask Martha Stewart how that worked out), that paying your child more than you pay your general house keeper to clean one room is a business expense. It’s literal tax fraud, just don’t get caught.

@ambtrader @thegameisJJD @FatSlayer69 @jrhall77 @yonann Easily. Is the little IRS agent coming to the house and watch her/him work? haha

Tax expert says parents can write off $15,750 by putting their own kids on payroll "Put them on payroll, you can pay your child up to $15,750 without your child needing to file a tax return" "That’s a $15,750 deduction" "Then from the $15,750, you can take $6,000 and stuff it into the Roth IRA, and that money is growing tax free"

@B_Wallace_in_GA @thegameisJJD @FatSlayer69 @jrhall77 @yonann For one room and a bathroom? Lol. Okay.

@ambtrader @thegameisJJD @FatSlayer69 @jrhall77 @yonann $288 a week? Easily doable.

@B_Wallace_in_GA @thegameisJJD @FatSlayer69 @jrhall77 @yonann Yes, correct. But very unlikely that amounts to 15k per year.

@ambtrader @thegameisJJD @FatSlayer69 @jrhall77 @yonann You're right, but what you can do is, if you have a home office and you see clients at your home, you could technically pay someone to clean your office, the bathroom, maybe a sitting area/kitchenette. Not the entire home...

@thegameisJJD @FatSlayer69 @B_Wallace_in_GA @jrhall77 @yonann You don’t have a clue what you’re talking about and it shows. The bottom line is that you can’t deduct expenses related to your house cleaners cleaning your residence. Paying your kids to do it doesn’t magically change anything.

@ambtrader @FatSlayer69 @B_Wallace_in_GA @jrhall77 @yonann There’s nothing illegal about setting up a business to do something you previously outsourced. It’s very common. People do this every day it’s allowed it’s not illegal and you’re here hell bent on going against the facts.

@thegameisJJD @FatSlayer69 @B_Wallace_in_GA @jrhall77 @yonann Yes… but that’s not a business expense. That’s a personal expense. So you paying kids to do that does not magically become deductible, especially if you’re overpaying them to do that.

@ambtrader @FatSlayer69 @B_Wallace_in_GA @jrhall77 @yonann It’s very normal to pay someone to clean your home. People do it all the time for like £15 an hour. I know so many people that do it. Wealthy and regular folk. It’s not expensive and very convenient actually.

@4thOfJuly365 5 is underrated - has a ton of air support, nuclear subs, aircraft carriers, and a sneaky amount of guns.

7 or 8.

@SlumpBusterLock @KelsTheGawd @B_Wallace_in_GA @jrhall77 @yonann Because if your home office comprises 10% of your personal residence, your kids doing dishes and cleaning the house isn’t related to your home office. It’s for your personal benefit, and is non-deductible.

@ambtrader @KelsTheGawd @B_Wallace_in_GA @jrhall77 @yonann How so?

@thegameisJJD @FatSlayer69 @B_Wallace_in_GA @jrhall77 @yonann No you can if you’re truly paying somebody to do it for your business. Paying your kids 15k per year to do your dishes and clean your house where you have a home office that comprises a small portion of your house isn’t an ordinary or necessary business expense.

@ambtrader @FatSlayer69 @B_Wallace_in_GA @jrhall77 @yonann Because you pay someone else to do it normally you can't pay your own kids?

@PerpetualAsset @saylordocs Also forgetting that he most liked won’t get a stepped up basis in the stock if it’s in an irrevocable trust, so his heirs will pay cap gains tax on the sale. Also also if you’re savvy enough to do this and get the basis step up, you’re probably in the estate tax realm @40%.

Imagine a father who secures $100K in spot Bitcoin. He holds the asset until the valuation hits a massive $5,000,000. Liquidating the position directly triggers devastating taxes on $4,900,000 of pure profit. So he executes the perfect institutional maneuver instead. He locks the Bitcoin in a legal trust, takes out a collateralized loan against the stack, and lives off the borrowed liquidity. Because he never executed a sale, his tax liability remains at absolute zero. Upon his death, the heirs receive the Bitcoin with a brand new cost basis set exactly at $5,000,000. The government cannot legally touch a single cent of the accumulated gain. This is exactly how generational wealth is permanently secured.

@worldflood1 @jimstewartson @LaurieJBarnes @DavidSacks God damn, cry harder, pussy.

Fuck David Sacks Trump‘s AI and crypto’s czar. he’s only in there because Elon Musk gave Trump something like $230 million to rescue his fledgling campaign as well as all the free propaganda on exit he could muster Hopefully, when David Sacks goes broke, he loses his mansion on pacific heights, one of the best streets in San Francisco

Back-of-envelope numbers for 1 gigawatt data center: All-in Capex: ~$50 bn Enterprise revenue generated: ~$25-30 bn/year Electricity cost: $1-2 bn/year ~2 year payback. The boom is real.

@HawkMan487 @KelsTheGawd @B_Wallace_in_GA @jrhall77 @yonann And only to the extent that “cleaning dishes” isn’t related to any family dishes, etc. like you said. Really amazing stuff here.

@KelsTheGawd @ambtrader @B_Wallace_in_GA @jrhall77 @yonann That only works if your house is a business location. CPAs will only deduct the portion of your house that is used for that business (which needs its own license), like a home office. That business also needs to be generating some kind of income.

@KelsTheGawd @B_Wallace_in_GA @jrhall77 @yonann No it doesn’t. It sounds like a tax fraud charge.

@ambtrader @B_Wallace_in_GA @jrhall77 @yonann Building maintenance associate (washing dishes, taking out trash, cleaning bathrooms) sounds pretty real to me

@B_Wallace_in_GA @jrhall77 @yonann There isn’t one. But there is a definition for ordinary and necessary business expenses that are deductible, and paying your kid 15k per year to do nothing isn’t an ordinary OR necessary business expense.

@jrhall77 @yonann Show me the definition of "real freakin job" in the US tax code!

@zachmelloh26 What if marks parents net worth was 10x that? Should he still do the same thing? 20x? 30x? When does it matter because there are differentials.

If you enjoyed this thread, be sure to like and bookmark the first tweet of the thread... And be sure to follow @zachmelloh26 for daily personal finance content that helps you reach your goals.

Mark was 42. His parents had a paid-off home worth $1.2M, large investment accounts, and no major spending habits. His assumption: “I’ll probably inherit enough one day to be okay.” So he:

@SMB_Attorney It’s between this and Ackman and Icahn fighting live on air. Both tough to beat.

This is the greatest interview in the history of television. This man, Ryan Cohen, is worth an estimated $5.1 billion dollars. He’s the founder of Chewy, the e-commerce pet food brand, and current CEO of GameStop. You can just do things, guys!

@GlobalWatchClub Neither. They’re both ugly as sin.

Daytona or Batman!? Which will it be...

@SteveOnSpeed Super cheap. Would probably be close to 250k in my area.

Just got a quote for a new garage at our lake house. $70,000. Includes: Foundation. 24x30 garage. Loft area upstairs with full plumbing. Earth leveling. Running utilities, like power, water, and sewer. This is good, terrible, or about right?