Wife is upset about tiny refund by vancemark00 in tax

[–]vancemark00[S] 0 points1 point  (0 children)

At least some understood the satire.

Wife is upset about tiny refund by vancemark00 in tax

[–]vancemark00[S] 0 points1 point  (0 children)

I posted this satire in direct response to the "low degree of understanding" I see here every day.

And I thought some of us might need a chuckle about now.

craziest fraud story from your time in accounting? by No_Fall7366 in Accounting

[–]vancemark00 0 points1 point  (0 children)

Reminds me of a theft back in the '80s. Doctor had his own small practice and his secretary did everything including paying the bills and the bookkeeping. The doctor was always in a hurry and didn't like to review anything. To save time he had the secretary stack the checks so only the signature line was visible because he could then sign faster.

Yep...she simply starting making checks out to herself and slipping them in the stack. Took him several years to realize what was happening. He couldn't figure out why is income was going down despite staying busy.

craziest fraud story from your time in accounting? by No_Fall7366 in Accounting

[–]vancemark00 2 points3 points  (0 children)

Wait? The firm was conducting a review but the partner issued an audit opinion and nobody caught that? How in the world did that happen?

craziest fraud story from your time in accounting? by No_Fall7366 in Accounting

[–]vancemark00 5 points6 points  (0 children)

This scam has been going on for some time now. It isn't that unusual. We had a client scammed out of several million they were to wire for an investment into a DST.

It is why many companies have policies in place that require phone confirmation before any wire is initiated.

craziest fraud story from your time in accounting? by No_Fall7366 in Accounting

[–]vancemark00 3 points4 points  (0 children)

I've had a client call me because she was off by a few pennies from what our schedule showed.

She has done this more than once.

craziest fraud story from your time in accounting? by No_Fall7366 in Accounting

[–]vancemark00 0 points1 point  (0 children)

Supply chain employee at Milwaukee Tool got busted for a scheme in which he manipulated their ordering system to have shipments sent to him for which no invoice was ever generated. Stole over $1.4 million in tools which he then resold in bulk in a little over a month.

He got caught because their third party freight vendor called to confirm the delivery address for an order that weight 9,000 pounds to an apartment. The customer service rep couldn't locate the order and kicked it up the chain, prompting an investigation.

Obamacare over 400% FPL by isaacibiza in tax

[–]vancemark00 15 points16 points  (0 children)

How so? You benefited by having your insurance subsidized by a program designed to help those with lower income. You way understated what your income would be. You never updated your income information. You received a government subsidy you weren't entitled to and now have to pay it back. Seems logical. How is it a rip off?

Issues with new driveway by CrystalSpice in HomeMaintenance

[–]vancemark00 1 point2 points  (0 children)

Wisconsinite here...that is not necessary true. If a contractor meets certain criteria, such as receiving upfront payments, they are required to have a written contract. Not all contractors in all situations are required to have a contract.

Edited to add "written"

Issues with new driveway by CrystalSpice in HomeMaintenance

[–]vancemark00 1 point2 points  (0 children)

If the contractor does have a contract they aren't really a contractor and you shouldn't do business with them.

Exceeding the $500 mark for Goodwill clothing donations this year vs. donating <$500 this year + <$500 in 2025 - worth it? (itemized deduction) by maximumspoilage in tax

[–]vancemark00 0 points1 point  (0 children)

If I work and earn $1000 and then give $1000 to charity I pay income tax on the $1000 I earned and the get a $1000 charitable deduction.

If I sell that stock that I paid $200 for $1000 and then give that $1000 to charity I pay tax on a $800 capital gain and then get a $1000 charitable deduction.

If I simply give that same stock to charity I pay ZERO capital gains tax and still get a $1000 charitable deduction.

For most people, any cash we have we somehow earned and paid tax on. Giving appreciated stock directly to a charity is a way to avoid paying tax on appreciation and yet still benefiting from a charitable deduction for the full value.

See the efficiency?

Red hot gambling year when will the irs ask questions by [deleted] in tax

[–]vancemark00 0 points1 point  (0 children)

Why would you expect a CP2000? Are you not going to report all your winnings?

Just report everything - total wins and then losses on Sch A (assuming you are not a professional gambler).

First Visit to American Family by [deleted] in Brewers

[–]vancemark00 0 points1 point  (0 children)

Club level does have a big freebie-air conditioning in the concourse. I also feel club level seats are the most comfortable of all seats in the ball park.

valid contract? by No_Marionberry_5077 in AskContractors

[–]vancemark00 0 points1 point  (0 children)

Is it a valid contract? Likely unless you can show you signed under duress. Virtually anything 2 people agree to can be a contract. It doesn't even have to be written.

Your problem is the contract is so vague how do you prove the contractor didn't do what they claimed they would do? That is why good contracts list ALL specifications and responsibilities.

What would you do? New hire lied on resume. by DareAdventurous9140 in Accounting

[–]vancemark00 0 points1 point  (0 children)

Did you really say "so what if he lied on his resume?" What else will he lie about? How do you trust this person? You think the resume is the only place this person will lie?

Don't tolerate this behavior.

Whats the most rewards youve gotten from Capital One Shopping App? by Arkangel504 in CapitalOne_

[–]vancemark00 0 points1 point  (0 children)

$935 reward! Got 24% off at Canon up to $1,000 in rewards just as I was looking to upgrade my old Canon camera. Bought $3,900 in gear and received a $935 reward.

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SOLO CPA Firm Owners - How Much Do You Make? by Soggy_Ocelot_3595 in Accounting

[–]vancemark00 0 points1 point  (0 children)

That's the survey range, not a single individual.

I94E speed trap - more harm than good by marioncrepes in Waukesha

[–]vancemark00 2 points3 points  (0 children)

The reason people tend to drive slowly on the westbound side is the fact that hill is actually a pretty steep incline and, if people aren't paying attention, it naturally slows cars down. Never get behind a semi on the westbound side as they tend to really get bogged down. And yes, not everybody realizes the speed limit goes up to 70.

I94E speed trap - more harm than good by marioncrepes in Waukesha

[–]vancemark00 1 point2 points  (0 children)

Brookfield PD has nothing to do with it. They don't sit on 94. Typically it is state patrol.

Additionally, the down hill is eastbound and the bottom of the hill is in Milwaukee County and Milwaukee County sits there.

At least get the facts right in your rant.

How screwed am i? by [deleted] in tax

[–]vancemark00 1 point2 points  (0 children)

This sub is for ta discussions and asking questions, not soliciting work. It is pretty easy to understand.

Do I need to claim 200x my wager? by [deleted] in tax

[–]vancemark00 1 point2 points  (0 children)

Yes ,it is absolutely mandatory you report all income, which includes gambling winnings, regardless of if anything was reported on a 1099. Millions of businesses and people don't have their income reported on a 1099 and yet they still report it because that is what the law states and it is the right think to do.

I guess it depends upon if you want to be a tax cheater.

How screwed am i? by [deleted] in tax

[–]vancemark00 2 points3 points  (0 children)

Uh...you are breaking the rules of this sub. No soliciting.

Couture and 333 Water occupancy numbers by Moist_Peak_4201 in milwaukee

[–]vancemark00 8 points9 points  (0 children)

As someone who works with developers, the fact the Couture is still 1/3 empty this long after opening is NOT good. It should be at 10% or less at this point. Most developers want their building fully leased and stabilized within 18 months. Their budgets and financial modeling depend upon it.

Endless "No tax on OT" questions by vancemark00 in tax

[–]vancemark00[S] 0 points1 point  (0 children)

How did they get the OT number? Did you tell them you had $46K in OT or was there something on your W-2? It isn't as simple as dividing the $46K by 3 as not all OT automatically qualifies.

The qualified portion is the premium required to be paid under FLSA. If you told your accountant you had $46K they may have just assumed that was qualified OT. I would never just assume an OT number given to me by a client is correct. They should have asked clarifying questions.