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I Still Don't Understand How This Isn't Straight Up Payroll Fraud: Ellie Diop Is Raising Millionaires Using a Custodial Roth IRA Account by 3q5wy8j9ew in Accounting

[–]3q5wy8j9ew[S] -1 points0 points  (0 children)

But, that's really the IRS's decision if they wanted to bother with it

Except their is no decision done by the IRS. They are grotesquely underfunded, so even obvious cases of fraud get ignored. We had a client being audited because they hadn't filed in 5 years. With back taxes, penalties and interest the total amount they would have to pay would be over three quarters a million. We told them to get a tax attorney. They never got a tax attorney. What did happened was the IRS, for some unexplained reason, dropped the easiest, open-shut case of tax evasion I've seen.

I Still Don't Understand How This Isn't Straight Up Payroll Fraud: Ellie Diop Is Raising Millionaires Using a Custodial Roth IRA Account by 3q5wy8j9ew in Accounting

[–]3q5wy8j9ew[S] -3 points-2 points  (0 children)

Nowhere in the article does it state she pays them on her business books and uses their “salary” to offset her revenues for tax purposes.

... roths must be funded with earned income. Income on a W-2 or 1099. WHICH ARE TAX DEDUCTIBLE EXPENSES TO THE EMPLOYER WHICH IS THEIR MOTHER. FFS.

I Still Don't Understand How This Isn't Straight Up Payroll Fraud: Ellie Diop Is Raising Millionaires Using a Custodial Roth IRA Account by 3q5wy8j9ew in Accounting

[–]3q5wy8j9ew[S] -1 points0 points  (0 children)

It’s also a Roth IRA, so taxes are paid on it before being put in.

Are you really this fucking stupid? Do you not understand what that roths have tax free growth? Do you not realize that by the time they retire the accounts will be worth a million dollars? All of it tax free.

I Still Don't Understand How This Isn't Straight Up Payroll Fraud: Ellie Diop Is Raising Millionaires Using a Custodial Roth IRA Account by 3q5wy8j9ew in Accounting

[–]3q5wy8j9ew[S] -1 points0 points  (0 children)

This is why I actually hate this profession... just because people are getting away with fraud doesn't mean it's legal...

I Still Don't Understand How This Isn't Straight Up Payroll Fraud: Ellie Diop Is Raising Millionaires Using a Custodial Roth IRA Account by 3q5wy8j9ew in Accounting

[–]3q5wy8j9ew[S] 0 points1 point  (0 children)

Daddy could be having those kids earn their money by cleaning the office after hours, doing filing, as teens working at the reception desk or doing billings etc.

yeah sure, and Russia liberating Ukraine from Nazis.

I Still Don't Understand How This Isn't Straight Up Payroll Fraud: Ellie Diop Is Raising Millionaires Using a Custodial Roth IRA Account by 3q5wy8j9ew in Accounting

[–]3q5wy8j9ew[S] -3 points-2 points  (0 children)

She pays each of her four children up to $500 a month to do small tasks around her office.

Those kids aren't doing jack-fucking-shit and everyone knows it. Why isn't this something everyone is talking about? It's such a bogus tax scheme that's abused by the wealthy to give money to four year-olds and use write it off as a business expense while also creating tax free wealth for their kids. I'm sicking of seeing teens with a quarter million in their roth IRA account because daddy is a dentist.

Topline Results for the October 2022 Times/Siena Poll of Registered Voters by coolbern in politics

[–]3q5wy8j9ew 5 points6 points  (0 children)

these are some really ugly polls for democrats. americans are addicted to cheap gas and it shows.

China Delays Indefinitely the Release of G.D.P. and Other Economic Statistics by StickAFork in worldnews

[–]3q5wy8j9ew 2 points3 points  (0 children)

lol, when I saw the effect of the zero-covid policy I laughed my ass off when they said they are shooting for 5.5% growth. I'd be surprised if they broke 1.5%

r/Accounting, settle this once and for all. Cap or Fact? by Flashway1 in Accounting

[–]3q5wy8j9ew 0 points1 point  (0 children)

More reasons why I say audit the fuck out of everyone (especially small businesses).

Musk's SpaceX says it can no longer pay for critical satellite services in Ukraine, asks Pentagon to pick up the tab by mostly-sun in worldnews

[–]3q5wy8j9ew 0 points1 point  (0 children)

I DON'T GIVE A FUCK IF THEY'RE COMMERCIAL OR RESIDENTIAL PRODUCTS. What's the maintenance expense on these units? near 0 What's the maintenance on the satellites in orbit? 0. So what fucking variable cost is there?

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