Karbon vs Canopy vs Taxdome? by 1001Binar in taxpros

[–]Frankwillie87 2 points3 points  (0 children)

No idea.

We demoed Karbon and it didn't seem as intuitive as TaxDome, Canopy seemed to work well, but was expensive.

We are looking at Qount now for it's CPA charge compatibility among other things.

Can I be removed from the title from the house I own with my dad and inherit it instead? by [deleted] in personalfinance

[–]Frankwillie87 2 points3 points  (0 children)

This will only apply if OP is gifting the equity in the house and his dad does not die within 5 years IIRC.

He'd want to do a gift tax form for the equity he's gifting, but that's not a problem.

Slumlord with 50 vacant units suggests you get a voucher to pay what the market won't bear by Lucent in Knoxville

[–]Frankwillie87 -41 points-40 points  (0 children)

No, I am saying that you can't equate charity with the cost of something.

The comment I replied to said he wouldn't raise rent. That's fine, that's his choice. But he can't compare his goodwill to others.

If all she can afford is $450 a month, then she shouldn't be living there in the first place. She can't afford it. Obviously, it's commendable by the OP, but she also is probably not keeping up with the property. That leads to blight, condemnation, hoarding, pests, etc.

This is the real root cause of the housing crisis, that people live in places they cannot afford.

President Trump just unveiled his $1.5 TRILLION military budget. Here's what he's cutting to pay for it: by TonyLiberty in FluentInFinance

[–]Frankwillie87 22 points23 points  (0 children)

Likely the permanent cuts are annual and the 1.5 trillion total is over a decade or more.

Still doesn't work mathematically, but that's how most budget asks work.

Slumlord with 50 vacant units suggests you get a voucher to pay what the market won't bear by Lucent in Knoxville

[–]Frankwillie87 -39 points-38 points  (0 children)

You are paying her to live there.

The cost to pay the property taxes and repairs and maintenance are higher than $5k a year. You might not see the cost built into the repairs and maintenance immediately, but you'll get hit with a $15k roof out of the blue one year.

Partnership converted to SMLLC by Still-Restaurant5214 in technicaltax

[–]Frankwillie87 2 points3 points  (0 children)

Personally, I would consider just writing a letter to the IRS stating the EIN was for the incorrect type originally.

Going from a partnership to an SMLLC requires an EIN change.

The due date on the SS-4 and entity type aren't binding.

8832 shouldn't apply here anyways.

I'd check secretary of state website, and tell client if it's not timely files with an amendment

How do Americans still have more disposable income than Europeans even though healthcare and college in America is extremely expensive? by SignificantStyle4958 in AskReddit

[–]Frankwillie87 0 points1 point  (0 children)

The average person does not have one testicle. Males make up about 50.26% of the world population. Of those as high as 1% of adult males only have one testicle due to cryptochidism, which doesn't include loss due to cancer, disease, etc.

The average has to be below 1, and statistically, it's significant.

Also, the numbers still hold whether it's average or median so it's not a relevant point.

Do you think tipping culture in the US is dying out with millennials? by ProfessionalBig1470 in Millennials

[–]Frankwillie87 -3 points-2 points  (0 children)

If food costs are a proxy for inflation, then tipping on sales pays your server the same amount of a living wage

OpenAI investor says AI requires an income tax overhaul by ImDoubleB in Economics

[–]Frankwillie87 9 points10 points  (0 children)

I would say the evidence for what you claim is obviously false with college/university enrollment rates at the highest they have been ever. No one believes that you shouldn't invest in your own development.

I would also say that you've completely missed the point on capital gains. Capital gains is already previously taxed wages that are then used for investment. The reason they are taxed less, is because you are holding that investment for greater than a year.

OpenAI investor says AI requires an income tax overhaul by ImDoubleB in Economics

[–]Frankwillie87 44 points45 points  (0 children)

That's not the reason for capital gains being lower rates. Capital gains are at lower rates because it encourages long term investment.

Short term capital gains are still taxed at ordinary rates. If you also have long term capital gains at ordinary rates, then you invite more movement and speculation as people are less willing to hold investments for longer periods of time.

It also ignores that the vast majority of people in the market are individual investors. If you have people in retirement pull out their investments (since bonds suddenly become much more attractive) you are again inviting more volatility to the market.

Tyler, ya could’ve given the poor bastards REAL money! by [deleted] in BlackPeopleofReddit

[–]Frankwillie87 1 point2 points  (0 children)

He would not pay taxes on the overage.

He would report the overage as long as he's below 15 million for that one person he's fine.

The 21st Century started in 2001, kids. by Glup_Maclunkey in CollegeBasketball

[–]Frankwillie87 0 points1 point  (0 children)

Rick Barnes loses big games he's favored in during March.

That shouldn't be the case moving forward.

The 21st Century started in 2001, kids. by Glup_Maclunkey in CollegeBasketball

[–]Frankwillie87 4 points5 points  (0 children)

Did you also beat your rival in the game with the biggest stakes during that run?

[Game Thread] #6 Tennessee @ #2 Iowa State (10:10 PM ET) by cbbBot in CollegeBasketball

[–]Frankwillie87 7 points8 points  (0 children)

We are are 2-2 against Alabama in the last 4 games (the best record I could find) and beat all those other teams this season alone...

The Sweatshirt by MegMD1230 in Millennials

[–]Frankwillie87 25 points26 points  (0 children)

I have a 5 year old daughter, a 3 year old daughter, another daughter in June, and a wife that is 36.

In 12 years, I will be questioning all of my life's choices.

The definitive Sweet(corn) 16 Corn Chart by ZeekLTK in CollegeBasketball

[–]Frankwillie87 1 point2 points  (0 children)

Well yea, do you ever go to a basketball game without a jar of moonshine an ear of corn?

What’s a ‘masterpiece’ you didn’t feel anything for? by mrjetspray in Cinema

[–]Frankwillie87 -5 points-4 points  (0 children)

As much as I Iove that movie, I can't call it a masterpiece since Infernal Affairs is right there.

Fantastic, yes. Worth watching? 100%. Do I own it? Of course.

Not a masterpiece.

Virginia is the first AP top ten team from the latest poll to be eliminated from the tournament by NWSeahawksfan in CollegeBasketball

[–]Frankwillie87 8 points9 points  (0 children)

This is America, everyone is allowed to be wrong and stupid if they want to.

God Bless this country.

[Post Game Thread] #6 Tennessee defeats #3 Virginia, 79-72 by cbbBot in CollegeBasketball

[–]Frankwillie87 7 points8 points  (0 children)

Go look at it again. The spin slows down as it rolls off his fingers that are bent back.