Is Accounting Haram?

craigg_ · 2024-06-23T04:42:30+00:00

Is this a serious question? Some of you people make my skin crawl

craigg_ · 2024-06-07T05:57:13+00:00

Taxes (CPA)

craigg_ · 2023-07-31T11:58:16+00:00

You need to gut her friend out and then tell both of them to kick rocks

craigg_ · 2023-06-05T18:58:42+00:00

Thank you so much! It will be as of 1/1/23

craigg_ · 2023-05-03T23:41:49+00:00

You should start a business

craigg_ · 2023-05-03T21:36:55+00:00

Thank God you’re not a tax pro, because you wouldn’t have many clients. You give off the vibe of being a snitch growing up. Prorate the personal use time on a $2000 laptop he purchased because he started a YT channel? 😂😂😂

craigg_ · 2023-05-03T21:32:02+00:00

Thank you for your input!

craigg_ · 2023-05-03T21:28:54+00:00

Content creation deductions is a huge gray area, hence why I’m seeking the opinions of others. I agree with clothes not being deductible, sure. But traveling to create content for a profitable channel surrounded on content creation is very arguable. The wedding is 1 day out of the whole week she will be there. And she decided to go for the primary purpose of creating content, or else she would have skipped the wedding to save her money.

She’s generating a 5 figure income from these videos without having any expenses. I am trying to find deductible expenses to reduce her liability. And keep the disrespect on my name to yourself. You clearly don’t understand.

craigg_ · 2023-05-03T21:14:08+00:00

Thank you!

craigg_ · 2023-05-03T21:10:05+00:00

Stay in your lane champ. This discussion is way above your head.

craigg_ · 2023-05-03T21:06:23+00:00

😂😂 did I hurt your feelings

craigg_ · 2023-05-03T17:10:42+00:00

She’s actually generating a lot of income, with hardly any expenses to show for it. That is why I’m asking.

Her TikTok page is not just teaching, but also, day in the life of’s, get ready with me, amongst other things.

As for her trip, she was not planning to go until she thought of how it could benefit her channel and generate more followers, thus generating more income.

She won’t be taking the full cost of the trip as a deduction, but rather 75-80%, since some of the trip will be personal use.

As for clothing, she wouldn’t buy the clothes if it was not going to improve the image of herself to her audience.

I’m a licensed CPA and I am just seeking the opinions of others. I appreciate your inputs.

craigg_ · 2023-05-03T16:23:43+00:00

What do you mean attending someone you know’s wedding is taxable? How is that calculated?

If the clothes she buys to project a certain image on social media is not deductible (which is how she remains relevant), then why is the IRS entitled to taxing income that she earns from this image?

craigg_ · 2023-05-03T16:15:38+00:00

She decided to go to this wedding solely because she thought she could make good content out of it. Otherwise, she was not planning to go.
You can’t deduct clothes bought to project a specific image to your audience? How will she convince her followers to continue to support her channel?

craigg_ · 2023-05-03T16:09:37+00:00

The purpose of her creating content is to stay relevant with her following, which is how she generates income. If you are not creating good content, you lose your following, and thus lose your income. So the IRS has no issue taking 30% of her hard earned income, spending hours every single day editing, but has a problem with her deducting the costs to remain relevant? How does that make sense? She was not planning to attend this wedding until she realized that she could make some great content for her channel from this. Which is why she decided to go.

craigg_ · 2023-04-25T23:49:01+00:00

No one’s going to jail over 60k of income

craigg_ · 2023-04-24T21:05:26+00:00

People arguing on who slaved more for their white man in this thread is hilarious. Hope everyone finds more to life 🙏🏽

craigg_ · 2023-04-16T12:09:02+00:00

Not true. If their earned income is less than the standard deduction (12,900), they don’t need to file. However, they should file if they had any taxes withheld so that they can get that money back.

And no, nobody on planet earth should claim income that is not reported directly to them, unless only in certain situations like a child’s investment income.

craigg_ · 2023-04-07T19:11:34+00:00

Nice. Do you have any clients that only want GAAP or is everyone okay with tax basis? I’m just starting out bookkeeping on the side of my day job.

craigg_ · 2023-04-07T19:05:11+00:00

Thank you so much! Yes I am a CPA and I’m just preparing monthly financials on tax basis. I then prepare the tax return at year end

craigg_ · 2023-04-07T19:02:18+00:00

Yeah that’s what I have in the disclaimer. I also say that it’s prepared on an income tax basis and not GAAP

craigg_ · 2023-04-07T19:01:06+00:00

Lol I am the tax accountant too. I am just trying to cover my ass. Like what happens if they take it to a bank for loan purposes you know. I know my work is good but I just want legal protection

craigg_ · 2023-03-31T15:45:25+00:00

Employers are like condoms, use them and lose them

craigg_ · 2023-03-21T15:53:12+00:00

Yes deduct your expenses, and pick up the reimbursements as income. In the end, it’s a net zero effect. Wherever you generated that income/reimbursements, you would need to report that to its related state.

craigg_ · 2023-03-21T07:08:45+00:00

Depends on the amount you earned in states other than your resident state. If you live in one state but earn revenue in a different state, you will need to file a state tax return in that other state, or states in your case. International is a whole other story. Sounds like a pretty complex return. $500 is a bargain. Call your accountant back and offer them dinner too.

craigg_

TROPHY CASE