I hate these fake accounts.
The Cincinnati Bengals are trading for Indianapolis Colts RB Jonathan Taylor, sources tell ESPN.
Cincinnati adds one of the NFL’s premier running backs as the Bengals look to make a push in the AFC.Community noteNo trade has occurred; the Bengals are not acquiring Jonathan Taylor. This is from a parody account, not real ESPN reporter Adam Schefter, contrary to reports of Colts owner opposition and only potential targets.
x.com/AdamSchefter/s…
newsweek.com/sports/nfl/ada…
espn.com/nfl/story/_/id…
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Have a little faith, Jeff
One game at a time
One game at a time
Hey @grok how many teams have come back from a 3-0 series deficit to win the World Series?
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This is a credit-card sales pitch dressed up as a tax loophole.
Borrowed money isn’t income because it must be repaid. Rev. Rul. 78-38 doesn’t make every card purchase deductible. And a 6,000-lb Escalade isn’t automatically a 100% Section 179 write-off.
Borrowed money isn’t income because it must be repaid. Rev. Rul. 78-38 doesn’t make every card purchase deductible. And a 6,000-lb Escalade isn’t automatically a 100% Section 179 write-off.
My neighbor spent 14 years auditing rich people for the IRS
Asked him the craziest thing he ever saw in an audit
He said "I audited a guy in Dallas who made $1.1M, bought 3 houses, drove a new Escalade, and the IRS had to mail HIM a $7,430 refund check for being low-income"
I thought he was bullshitting me until he walked me through the guy's file
The auditor went into that office expecting to nail him for tax fraud. Six weeks later he had to close the audit with zero changes and release the guy's $7,430 low-income check
You know why? Because the US tax code has two rules that turn into a legal money glitch when you stack them together
First rule is that borrowed money is never taxable income. You can borrow $500k tomorrow morning and the IRS cannot touch a penny of it
Second rule is IRS Revenue Ruling 78-38. It says any business expense, equipment, or heavy vehicle you buy on a credit card is 100% tax-deductible the exact day you swipe the card, even if you don't pay the bank back for 18 months (go look that ruling up btw, it's wild)
His business brought in $420k in net profit, plus he pulled $680k in tax-free cash-out refinances off three rental houses. That's $1.1M in cash hitting his bank account in one year
A normal W-2 earner making $420k bends over and wires $130,000 to Washington
Instead, this guy used his 740 credit score to open $250,000 in 0% APR business credit cards under his LLC's tax ID across Chase, Amex, US Bank, and Wells Fargo
Before December 31st, he swiped all $250,000 of the bank's 0% money on a $95k Escalade (over 6,000 lbs so Section 179 writes off 100% of it on day one), rehab materials for his rentals, and prepaid vendor invoices
Stacked with bonus depreciation on his rentals, those credit card swipes legally dropped his personal Adjusted Gross Income all the way down to $21,400. With three kids on his return, the IRS computer automatically mailed him the $7,430 Earned Income Tax Credit
And because EIN business cards only report to commercial bureaus, none of that $250k balance ever showed up on his personal credit report. He paid the cards off a year later from rental cash flow before Chase charged him a dime of interest
Problem is when most guys with a 700+ score try to apply for $250k in business credit on their own, they apply in the wrong order, rack up 5 hard pulls on Experian, and get capped at $10k
(if you have a 700+ credit score and want my team to sequence and unlock your 150k-250k 0% funding stack under an EIN, book a call using the link in my bio)Community noteRev. Rul. 78-38 only covers charitable contributions by credit card, not business expenses or vehicles. andrewmitchel.com/charts/rr_78_3… Credit card charges are deductible when incurred under standard cash method rules, not via any unique glitch, and the IRS auditor anecdote has no corroboration. irs.gov/publications/p… fitsmallbusiness.com/tax-deduction-…
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Escalades fall under IRC Sec 280F and are capped
The most embarrassing part is he thinks taking on a loan is income and it’s not
The most embarrassing part is he thinks taking on a loan is income and it’s not
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TaxMan 🇺🇸 retweeted
New episode @BearBetsPod. BYU was never a Top 10 team. And you don’t need to “know ball” to bet sports. Fun show today @chrisfallica @geoffschwartz. youtu.be/OXCvnycTVW4?si…
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It appears the QBs have been force feeding the TE’s today
Does Patty do the same with Travis Swift?
Does Patty do the same with Travis Swift?
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