4 ms·

I watched about half of the video. Tbh his excuses about not properly counting sales tax to me just sound weird. if you have a business you need to hire someone

by mlazos 4y ago

I watched about half of the video. Tbh his excuses about not properly counting sales tax to me just sound weird. if you have a business you need to hire someone who has expertise in this area if you grow to the size where it matters. I also find how he only shares his error rate and not the absolute numbers a little sus. I highly doubt the government would be auditing him if there wasn’t a lot missing. Meanwhile the rest of hn is ready to jump on the “I hate the government, it’s so dumb” bandwagon when it’s actually really hard to create a system that works as well as it does. I think it should be simpler and clearer for everyone but it’s a hard problem.

ruste 4y ago
He has! One of the things he mentions in this and other videos is that not even the CPAs he hired can answer if something is legal. He's also got recordings of him calling the city repeatedly about a fine and nobody can tell him how to avoid it, when it applies, or whether what he's doing is even legal.
- Spooky23 4y ago
  Sales tax is a state tax, so calling “the city” is like calling your US Senator about potholes. Guys like this are usually full of it; the people he is railing about conveniently can’t respond.
canucker2016 4y ago
In the video at ~3:30, he mentions that the NY state govt says he owes ~$45.7K for one quarter - he says the amount owing would total high six figures, maybe low seven figures if that amount owing would be extrapolated from one quarter to the whole audit period in question (as he says in the video - more money than he is worth). In a later video ( https://www.youtube.com/watch?v=OXvuOD1D0gM https://www.youtube.com/watch?v=OXvuOD1D0gM ) where he pays the amount owing, he states that he has to send ~$6700 to the govt. So over one year of state govt auditing reveals ~$6700 that the state govt didn't get. But he's also mentioned in the video where he's getting audited again ( https://www.youtube.com/watch?v=YvHt1Q3k-44 https://www.youtube.com/watch?v=YvHt1Q3k-44 ) that he, via the first audit, has discovered he actually overpaid his taxes. He may try to claw back that money in the second audit.
larossmann 4y ago
> I watched about half of the video. Tbh his excuses about not properly counting sales tax to me just sound weird. if you have a business you need to hire someone who has expertise in this area if you grow to the size where it matters. I also find how he only shares his error rate and not the absolute numbers a little sus. I highly doubt the government would be auditing him if there wasn’t a lot missing. I don't feel like sharing my gross revenue with people I do not know. I do hire an expert, which is why a business with so many different and complex income streams had a 0.1% error rate over a very long time period. If you get a 99.9% on a final after a group of professors spend a year reviewing your test & essay answers, wouldn't you be happy?

by mlazos 4y ago

ruste 4y ago

He has! One of the things he mentions in this and other videos is that not even the CPAs he hired can answer if something is legal. He's also got recordings of him calling the city repeatedly about a fine and nobody can tell him how to avoid it, when it applies, or whether what he's doing is even legal.

Spooky23 4y ago
Sales tax is a state tax, so calling “the city” is like calling your US Senator about potholes. Guys like this are usually full of it; the people he is railing about conveniently can’t respond.

canucker2016 4y ago

In the video at ~3:30, he mentions that the NY state govt says he owes ~$45.7K for one quarter - he says the amount owing would total high six figures, maybe low seven figures if that amount owing would be extrapolated from one quarter to the whole audit period in question (as he says in the video - more money than he is worth). In a later video ( https://www.youtube.com/watch?v=OXvuOD1D0gM https://www.youtube.com/watch?v=OXvuOD1D0gM ) where he pays the amount owing, he states that he has to send ~$6700 to the govt. So over one year of state govt auditing reveals ~$6700 that the state govt didn't get. But he's also mentioned in the video where he's getting audited again ( https://www.youtube.com/watch?v=YvHt1Q3k-44 https://www.youtube.com/watch?v=YvHt1Q3k-44 ) that he, via the first audit, has discovered he actually overpaid his taxes. He may try to claw back that money in the second audit.

larossmann 4y ago

> I watched about half of the video. Tbh his excuses about not properly counting sales tax to me just sound weird. if you have a business you need to hire someone who has expertise in this area if you grow to the size where it matters. I also find how he only shares his error rate and not the absolute numbers a little sus. I highly doubt the government would be auditing him if there wasn’t a lot missing. I don't feel like sharing my gross revenue with people I do not know. I do hire an expert, which is why a business with so many different and complex income streams had a 0.1% error rate over a very long time period. If you get a 99.9% on a final after a group of professors spend a year reviewing your test & essay answers, wouldn't you be happy?