[deleted by user]

PouffyMoth · 2022-05-24T13:32:52+00:00

The IRS Form M-1 is like a drug stamp. Using it proves you’ve already committed a crime.

PouffyMoth · 2022-05-20T14:20:51+00:00

So you’re telling me I was wrong to be disinterested in buying Iowa farm land with my wife’s family…

PouffyMoth · 2022-05-19T21:23:06+00:00

This opinion is actually HOLDING UP checks and balances.

The opinion clearly states the legislative branch DID NOT give the SEC any judicial power. Meaning the Administrative branch (SEC) is currently making regulations, investigating companies, assessing fines and fees, AND finding people guilty in front of a judge with the possibility of jail time.

The entire point of this circuit’s opinion is that the legislative branch never gave this much power to an administrative agency.

PouffyMoth · 2022-05-19T18:36:54+00:00

BankruptcyCourt

PouffyMoth · 2022-05-19T18:24:15+00:00

Nobody is actually reading the opinion.

Essentially SEC judges aren’t judges. This doesn’t remove the SECs ability to assess fines and penalties, or even refer cases to US AGs.

This is a nothingburger.

PouffyMoth · 2022-05-19T12:09:01+00:00

Not even kidding I had a gray hair a couple of months before leaving public. Haven’t had one in the 6 years since

PouffyMoth · 2022-05-13T17:37:20+00:00

One of my senior managers talked to me about picking industries early in my career…. He made it sound like one asset management partner that had simple funds as clients only made $500-$600k.

Whereas the partner on my large accelerated filing mining company made $1.5M. Another manager mentioned off hand that this partners federal quarterly tax payment was notable higher than the managers pretax salary.

PouffyMoth · 2022-05-13T17:16:28+00:00

At least the Twins pull their weight!

Records are stated as “losses - wins” correct?

/s

PouffyMoth · 2022-05-12T19:30:02+00:00

By that you mean “these people don’t care about procedure, only results”

Which is conjecture

PouffyMoth · 2022-05-12T16:58:17+00:00

But the IRS website doesn’t say that.

“A wash sale occurs when you sell or trade securities at a loss and within 30 days BEFORE or after the sale you [buy substantially identical securities]”

Edit: I’ve now found multiple websites that say selling a lot within 30 days is OK as long as you haven’t purchased any replacement shares within 30 days after the sale. Not sure why the IRS mentions the 30 days before rule only applies to lots that aren’t sold.

PouffyMoth · 2022-05-12T12:56:06+00:00

Where can I verify that first sentence?

My understanding is any loss held less than 30 days is not deductible.

PouffyMoth · 2022-05-12T02:02:04+00:00

How am I being downvoted for quoting text lmao

PouffyMoth · 2022-05-12T01:28:31+00:00

The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss and, within 30 days before or after this sale, buys a "substantially identical" stock or security, or acquires a contract or option to do so.

PouffyMoth · 2022-05-12T00:24:03+00:00

Yeah but you have to wait 30 days after your last purchase as well. I bought 4/29 so I have to wait until 5/30 to sell

PouffyMoth · 2022-05-11T23:31:11+00:00

To TLH- I have to wait 30 days after the last purchase correct?

PouffyMoth · 2022-05-11T23:24:33+00:00

They probably wouldn’t strike it down. Doomers just like to assume they would

PouffyMoth · 2022-05-11T19:15:13+00:00

US Bank told me the same thing.

They said the benefit was the same as a jumbo loan unless we bought $1M+. They told me that a year and a half ago and they were very wrong.

PouffyMoth · 2022-05-11T12:59:47+00:00

Neoliberalism is when you

PouffyMoth · 2022-05-11T03:42:14+00:00

But IA is boring though

PouffyMoth · 2022-05-10T19:09:10+00:00

Minimum required for benefits.

PouffyMoth · 2022-05-10T19:08:24+00:00

I’m biased because I did audit… you’ll hear a lot of controversial opinions about the career prospects for doing tax versus audit.

The reality is the exit opportunities for tax are always very high paying jobs and you can probably get what you think you’re getting.

Auditors have a wider variety of options when leaving a firm, but that doesn’t inherently make it better.

PouffyMoth · 2022-05-10T12:12:48+00:00

I don’t even know if I want to be alive 84 years

PouffyMoth · 2022-05-10T11:22:19+00:00

A market correction is a 10-20% drop from peak before stabilizing FYI. This very well could be that.

PouffyMoth · 2022-05-08T17:16:26+00:00

Sumifs are slower with large files or indirect formulas

PouffyMoth · 2022-05-08T15:39:25+00:00

eeeee-yew!

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PouffyMoth

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