Zac M

🙏

Take of the century goes to Colin Cowherd

@noahkagan It’s not 100%; maybe like 3-7% of the spend depending on which method, entity type etc

The R&D tax credit gives companies 100% money back on anyone inventing in the USA. With Claude Code / Codex 👉👉 All companies should look how they can move more of their employees to creating and innovating.

@BojanRadojici10 Thanks

360 years. That is the collective Excel experience of my team of 30 people, in one room. I have personally used Excel for 20 years. Since the very beginning. We’ve spent decades "crushing it" when it comes to financial modeling. We knew every shortcut. Every nested formula. We thought we had reached the peak of efficiency. (They are better then me, just to admit) But I have something to tell you. The game just changed. In my opinion, we are witnessing the biggest innovation since Excel was first released. It’s not a new function or a Power BI update. It’s Claude. Specifically, Claude’s ability to build and manipulate Excel models. For 40 years, the "manual labor" was the tax we paid. Hardcoding formulas. Spending hours formatting cells. Manually linking sheets and building tables from scratch. That era is over. Claude can now handle the heavy lifting of building the structure, the logic, and the formatting in minutes. But here is the part that really surprised me: It actually understands accounting. It understands the relationship between a Balance Sheet and a Cash Flow statement. It understands how operating drivers flow into a P&L. We aren't replacing our expertise. We are finally liberating it. Instead of spending 80% of our time building the model, we spend 100% of our time analyzing the results. If you want this Prompt and Excel model, just drop a comment and I’ll send it to you. (Important: follow me so I can DM you!)

@victorjcook @EricTopol Are you sure it’s not because of sharks?

Cycling is great until you do it a lot, then, sadly, "all cause mortality" starts to include getting run over. Swimming - there is too much crap in the pool. Not sure about the running stats, but walking is better except at the extreme tail. For real exercise, rowing and tennis are both more full-body and more fun than stair climbing.

Physical activity and the reduction of all-cause mortality, from 2 very large prospective cohorts 1. The relationship is non-linear, suggesting a threshold effect for many types of exercise as seen below

@ankurnagpal Curious, thanks

This is the last call for my tax planning guide I break down every single tax saving strategy that I wish I knew 3 years ago in a 30,000 word Notion guide Most of these need to be implemented by December 31 to save money RT / comment below and I'll DM you a free copy

@blknoiz06 Sell May or June 2025 puts at $75k, calls at $95k; collect the premiums and let them expire worthless (if you’re right)

how do i bet on weekly not closing above 95k or below 75k for two months whats the option bros saying

@nrehiew_ How many letters do the words of this question contain (45)

Is it just me or are these questions not human answerable too? Like what is happening?

Ah just stumbled across this gem from exactly 2 years ago- a little premature eh @economist ?

@MikeSyl36625988 @IDdoITtheSAME 🎯

@IDdoITtheSAME So what are we expected to do? For every client every year if they have under payment penalties we override them and tell the client they will get a notice and have to pay it because only the IRS can calculate it?

Looking for help from other tax pros. We have three clients who got refund checks with no explanation for their 1040's. Shout out to the Internal Revenue Service. For goodness sakes, please stop doing this. Please mail out the notice that EXPLAINS the change in plain English then send the check a week later. This is NOT rocket science. Fix your damned system. You are creating more work for us and you. Mailing the check with no explanation is STUPID. The person in charge of this at the IRS should be fired tomorrow. One of the clients finally got a notice. Basically in 2023 Allen County was declared a Federal Disaster area. I walked around our office today and none of the ten of us had any idea that this happened because nothing bad happened in 99.99% of Allen County. I got an explanation for one of the three clients via notice from the IRS. It said that the IRS lowered the form 2210 penalties for the taxpayer. I went and read the Form 2210 instructions. Per the instructions: "Federally declared disaster. Certain estimated tax payment deadlines for taxpayers who reside or have a business in a federally declared disaster area are postponed for a period during and after the disaster. During the processing of your tax return, the IRS automatically identifies taxpayers located in a covered disaster area (by county or parish) and applies the appropriate penalty relief. Don't file Form 2210 if your underpayment was due to a federally declared disaster. If you still owe a penalty after the automatic waiver is applied, the IRS will send you a bill.?" Note I had no idea this was the case. None. Nada. Zero. Zilch. So of course we figured the under penalty in our software. In our software we can over-ride the penalty; however, we cannot easily calculate it due to the Federal disaster area. Without further research I am not sure what the penalty reduction is or how to calculate it. Then the IRS calculated the "Correct" amount of penalty and sent my clients a refund. There is zero chance that I am going to override the penalty and have the IRS calculate it and send my client a bill likely with interest. That makes zero sense. None of these clients were in any way affected by a Federal disaster. I am sure this is automatic penalty relief. I have to think this is due to a 2020 or later Act of Congress. Those of you with a ton of clients in a Federal disaster areas are you seeing this? I am assuming those of you in Florida and California know a lot about this? Are you letting the IRS calculate this for you clients and send them a bill? This is really stupid. Poll question: How do you handle this on a 1040 you file if client is in a Federal disaster area? #irs #danielwerfel #cpa #ea #taxpro

@Melt_Dem Wow

big macs don’t lie 📈

@NFT_Shooter Viewed through the right lens I think the book “Paradox of Choice” may have a lot of wisdom for you about this (I’d liken it to maximizing on always needing to get a fair value, even when it’s arguably or objectively non-material) if you haven’t read it

@NFT_Shooter Generally a valuable skill, especially navigating large companies and clipping coupons, eye for value when building wealth etc- less helpful with friends, family, small service providers, local businesses etc- would be nice to have a calibration for it

@euriya The correct way is to $0 out the W2 wages and have it corrected, and by having the 941’s amended, it will probably take years to get the withheld tax refunds back after doing this

Owner of single-member LLC paid himself wages as an employee. How does he fix this?😭

@itsurboyevan @FoundersPodcast LeBron

I've been looking for an example of this for a year and I'm pretty sure they don't exist: - Worth 1B+ - Married to original spouse - Outstanding moral virtue - Kids are all relatively successful - Kids have a good relationship with parents Any idea? cc @FoundersPodcast

@AccountingAsArt Dm if you want to chat; can explain to you on a quick call if it’s helpful

#TaxTwitter: Client, who has a W2 job, did the DraftKings Reignmaker thing in 2023. Bought NFTs, put those NFTs in contests (no entrance fee for the contest) and either won or lost $$. Got a 1099-Misc for some $$$. Is this gambling income? A new Sch C? Are the NFTs capital assets? Thoughts??

@nikitabier Fast forward to when the REDDIT meme coin surpasses the value of the actual equity of the company 🚀

Guys, I have an idea.

@cobie @TaikiMaeda2 I think if you just keep being your transparent self then it’s absolutely reasonable, to say the least; happy to strategize in more detail- hmu if helpful

IMO running an echo group is basically the only audience-aligned way for someone to "monetize an audience", since with echo: 1) you can't post something to echo unless you are also investing on the exact same terms (ie. taking symmetric risk), and 2) you only get paid if your group members get paid (since you take a % of their profits). if they break even, you get nothing. if the investment loses money, you get nothing (and also lose your own investment). so ya it seems way better than doing ads/sponsorships/tweeting about your own bags or whatever ppl do

Hey everyone, I have a personal dilemma and would appreciate your honest feedback. Since 2020 I've built my platform/brand in a specific way (no ads/shills, private deals, etc) but sometimes it's mentally difficult to look at all the deals I've passed on which have 10-100x'd and more. My thinking has been that if I only participate in liquid markets, I can better empathize with my audience (i.e. retail), which will hopefully lead to better content. So here's my personal dilemma/question: @cobie soft-launched @echodotxyz, which is a way for people to create syndicates to share deal flow with whoever the "leader" lets in. Would you guys view me any differently if I chose to start a syndicate there? Small caveat is that I don't even know what the process is to start one and if it's even possible for me. Even if I do make one, I also don't know how to best gatekeep the syndicate. But let's assume I am able to make one and the gatekeeping is "fair." I don't want to compromise on the brand I've built, but the idea of a syndicate feels like a more ethical way to participate in these private deals because I can at least share some of the deal flow with those who don't have the privilege to get them in the first place. But I just wanted to start this dialogue because I create content FOR YOU and YOUR opinion means a lot to me. Please feel free to be very blunt and honest with your feedback.

@0xMummy Yeah we can create a rolling balances report for you for any coins - you can just ask intercom or your reconciliation rep to run it for you - or dm me your info and I can have it made- thanks

@zac_tweet Is there a way to check historical balances on token tax or just current estimated holdings via the harvesting dashboard?

@TheBTCGame @inthepixels @ZacharyMcClure I’m at this handle or @TokenTax I got sim swapped back in the day and they never gave back my twitter account sadly- good to see you @TheBTCGame glad you’re still in the space- that podcast was a long time ago!

@inthepixels @ZacharyMcClure Yeah, unsure why. Has been suspended for years now.

So the tax preparer I was planning to work with doesn't seem to have the capacity to take me on as a client. Please let me know of tax preparers you trust who are knowledgeable about crypto. Getting my taxes right is essential to reducing my political attack surface.

For so many people around the world it just makes way more sense to keep your money in BTC or stablecoins (or ETH if you want some yield) as opposed to your own local currency; we’ll probably see situations like this happen around the globe in the next few years