Dan Chodan

@andreacpa0 PY + COLA

"cant you just use last year's w-2" i hate it here

@andreacpa0 @AccountingAsArt PY + COLA

SSA-1099s are now posted on 2025 Wage & Income Transcript

@andreacpa0 Sweet ponzi

i love investments that return 10% of your investment annually and then in year 10 give you ABSOLUTELY NOTHING and vanish into the ether

@OriginalLink=links-1.govdelivery.com" target="_blank" rel="nofollow noopener">links.us1.defend.egress.com/Warning?crId=6…

IRS allows common controlled exception to trigger 100% bonus on new OBBB Qualified Production Property. Previously it seemed only the operating entity could qualify for QPP. Now this appears to open the door to most related entity lessors in self-rental situations.

Trump accounts are not exciting. Contributions are not deductible. Earnings taxed at ordinary rates. Small seed $ and low limits. But perhaps the more exciting play is Roth conversion after the growth period. Use low tax years at 18- college to convert Trump account to Roth IRA.

30 years mortgages are just as bad as 50 year mortgages

@BrooksBrownEA @LoganGrafTax @JoshYoungblood Evergreen x.com/danchodan/stat…

Nobody cares if you’re an EA or CPA. We can all do taxes and make money. Let’s just get along. @LoganGrafTax @JoshYoungblood

@ignatiuscpa "This assertion(suspension testimony) is contradicted by other record evidence showing that the company continued to grow, increased gross receipts, and hired new employees." Higher receipts/profits are not fatal to ERC suspension necessarily, but they can tend to be a bad sign.

@danchodan Awesome! 👏🏾 curious what their profit was during the quarters they claimed the ERC this sounds like the poster child of who never should have entertained filing ERC claims.

Well, well, well... The #OSHAargument fails in court. No ERC for a construction company in NC arguing suspension on OSHA/CDC/state grounds. Guidance is NOT an order, folks. And even if it were - you must then demonstrate the impact of that order to suspend operations.

Yes, bad things happened to businesses due to covid. But for ERC, a suspension must be due to a government covid order to qualify.

This court didn't need to give us more. But we are given one more gem: General Disruption is Insufficient

@TheTaxNomad But like it or not, these will be around in the next five years and CPAs will need to understand them just like PTPs and oil/gas K1s.

@TheTaxNomad But aren't there cheaper, less risky avenues to doing some things? The sales pitches are coming in hot but I reflexively slow down looking at tax- motivated investment strategies. Sometimes it's just better to pay the tax.

Long short portfolio tax strategy pitches are having a moment. (Tax loss harvesting on steroids) Perhaps there was a conference somewhere which kicked off every advisor? Gone from zero to 1000% this fall. If you haven't seen it yet, you will soon.

@rledbetterCPA Most seemed to be focused on capital losses on a 1099 structure only. But yes have seen the K-1 structure pitched in this way. It's more convoluted, but don't believe it's a 469 issue. There is a specific carveout for trader funds to not be passive activities 1.469-1T(e)(6).

@danchodan Haven’t fully researched but feels like 469 is being disregarded in the pitches I’ve heard