***Official Political Discussion Thread***

[dwalk31]

yes. Those who are older tend to give more to churches, community, etc. I’ve seen some making that amount giving less than $1k a year. A lot those people are trust fund babies who don’t give a **** about anything though

Well obviously Im speaking more towards folks who itemize. But it would seem that this would show that people who benefit the most from the contributions itemize and give more. I think it illustrates my point.

 

[dwalk31]

No, you can’t deduct hobby losses

You also don't pay taxes on hobby income, right?

 

[junglejim]

You also don't pay taxes on hobby income, right?

Hobby or Business? IRS Offers Tips to Decide | Internal Revenue Service

Small Business Week Tax Tip 2017-04, May 3, 2017

www.irs.gov

I know you can ****ing read and google man.

 

[dacomeup]

Was Keisha at Haywire Weekend?

 

[dwalk31]

No, you can’t deduct hobby losses.

My guess is all the people who didn’t fill out a schedule C or Schedule E last year to report business or self employment income and claimed this (Delk) are probably going to get audited because they don’t have a real business

I haven't paid my taxes yet. Waiting until the deadline, like usual.

 

[dwalk31]

Hobby or Business? IRS Offers Tips to Decide | Internal Revenue Service

Small Business Week Tax Tip 2017-04, May 3, 2017

www.irs.gov

I know you can ****ing read and google man.

You'd make a great witness.

You intentionally readjust your argument to serve your purpose.

I say calling it a hobby would reduce tax liability, and you respond "No, you can't deduct hobby losses"

Brilliant

You're probably second to dacomeup at doing it in here in an actually persuasive way

 

[junglejim]

You'd make a great witness.

You intentionally readjust your argument to serve your purpose.

I say calling it a hobby would reduce tax liability, and you respond "No, you can't deduct hobby losses"

Brilliant

You're probably second to dacomeup at doing it in here in an actually persuasive way

I don’t understand what you are saying. The income is ****ing taxable like all types of income and you can’t deduct losses in excess of income, so there is absolutely zero way in any universe that I can reduce tax liability with it. It literally only increases tax liability.

I was even kind enough to provide a well written IRS publication where it even states as much in there

but I shouldn’t be surprised that you would ***** about free tax advice.

 

[DLF]

Crazy that the (Washington football team) are going about the name change despite the leader of our country telling them not to. If that’s not treason I don’t know what is.

 

[dwalk31]

I don’t understand what you are saying. The income is ****ing taxable like all types of income and you can’t deduct losses in excess of income, so there is absolutely zero way in any universe that I can reduce tax liability with it. It literally only increases tax liability.

I was even kind enough to provide a well written IRS publication where it even states as much in there

but I shouldn’t be surprised that you would ***** about free tax advice.

But you can deduct the hobby business expenses.

I guess I’m confused as it relates to your initial assertion of buying/selling shoes as a hobby compared to a business when you have to pay taxes on the income.

It sounded like initially you were saying that it was a hobby so I’m not qualified for the sba advance without being a scumbag, and now you are saying hobbies only increase tax liability.

Like always, I’ll take your word on the tax stuff.

 

[RustyShackleford]

You'd make a great witness.

You intentionally readjust your argument to serve your purpose.

I say calling it a hobby would reduce tax liability, and you respond "No, you can't deduct hobby losses"

Brilliant

You're probably second to dacomeup at doing it in here in an actually persuasive way

Da hypocrisy of this man

 

[junglejim]

But you can deduct the hobby business expenses.

I guess I’m confused as it relates to your initial assertion of buying/selling shoes as a hobby compared to a business when you have to pay taxes on the income.

It sounded like initially you were saying that it was a hobby so I’m not qualified for the sba advance without being a scumbag, and now you are saying hobbies only increase tax liability.

Like always, I’ll take your word on the tax stuff.

you can only deduct the expenses to the extent you have income or it does not exceed the income you make. If I make $100 and have $200 in expenses, my hobby income is $0. If I make $100 and have zero expenses, my hobby income is $100

The definition of business versus hobby is in the ****ing article I sent you. Just read the god damn thing.

 

[dwalk31]

you can only deduct the expenses to the extent you have income or it does not exceed the income you make. The definition of business versus hobby is in the ****ing article I sent you. Just read the god damn thing.

What does that have to do with your initial assertion or mine?

You act as if I’ve said hobbies and businesses are treated the same for tax purposes. You brought up the entire hobby convo.

 

[junglejim]

What does that have to do with your initial assertion or mine?

You act as if I’ve said hobbies and businesses are treated the same for tax purposes. You brought up the entire hobby convo.

because selling your crusty *** dunks isn’t a ****ing business it’s a ****ing hobby. The money you stole from the government is meant for businesses, not ****ing hobbies.

 

[RIP sleazyy]

because selling your crusty *** dunks isn’t a ****ing business it’s a ****ing hobby. The money you stole from the government is meant for businesses, not ****ing hobbies.

you get a 1099 with a certain amount of sales/income through StockX totaling 200 and $20k+ respectively, I think it is.

 

[dwalk31]

because selling your crusty *** dunks isn’t a ****ing business it’s a ****ing hobby. The money you stole from the government is meant for businesses, not ****ing hobbies.

But nike selling the exact same dunks is a business

 

[junglejim]

you get a 1099 with a certain amount of sales/income through StockX totaling 200 and $20k+ respectively, I think it is.

If you are selling that much then yes, it’s not a hobby and more a full time job. You are also likely paying taxes on that income (or at least I’d hope so in case of an audit)

If you are doing it on the side when your main business is being a defense lawyer and you sold a couple pairs of crusty *** dunks last year, then it’s certainly not a business. Based on the questions being asked I’m guessing this income isn’t being reported on his return, nor is he putting in the requisite hours to be considered a business activity (typically around 900 hours a year)

But nike selling the exact same dunks is a business

Yes. They procure materials, have and pay employees, market said product, distribute said product, and maintain financial records. They are certainly a business.

 

[dwalk31]

If you are selling that much then yes, it’s not a hobby and more a full time job. You are also likely paying taxes on that income (or at least I’d hope so in case of an audit)

If you are doing it on the side when your main business is being a defense lawyer and you sold a couple pairs of crusty *** dunks last year, then it’s certainly not a business. Based on the questions being asked I’m guessing this income isn’t being reported on his return, nor is he putting in the requisite hours to be considered a business activity (typically around 900 hours a year)

You have no idea what you are talking about but I do appreciate you acknowledging you based your rant on a bunch of wild assumptions.

 

[ninopacino]

Just watched the Biden crime bill speech for the first time. My take away is

- There a generally accepted truth that amongst American authorities if you are from the hood, or underprivileged,you fit the description a sociopathic, predator with no conscious. I think this matches the average white people conception of “ there are normal black people and then there are n-words”. the thing about it is, the n-word itself is a loaded word so its usually reserved in the moment where people lose control, but when they say it, they are Basically mirroring what Biden said about the mentality of poor black and Hispanic People who are seen as anti social And a threat to public safety.

His views are harsh yes. I also think hes trying to Working with the mind frame of justice. Justice is supposed to be a god-like idea that karmas is dished out in equal amount as compensation to whatever you’ve done. But are we really seeing justice?

my real issue with this bill is the consequence we deal with today. Law abiding people of color are the victims more than the Biden’s of the country. The police enforcing the law have become the predators.If you are black or Hispanic and wear urban Clothes you automatically fit the description. if you drive a “black car”you fit the description. Does Candace Owens, a black doctor, or non white Hispanic business executive fit the description? Nobody is safe that’s for sure. You could raise your self from poverty, go to college become a lawyers and after a hard days work get pulled over and cracked over the head by a cop who pulled you over for generic excuse xyz

all thing considered.The poor people of the country are the lumpenproletariats (look it up) who will never get Perfect equality as a whole unless socialism/communism is implemented.

Biden’s views may be flawed but a world with him as president has to be better that what we have now. Trump said; black people, what do You have to lose?(when voting for him). Answer that quest for yourself and Dont Forget to calculate that as a factor when you say you won’t support Biden.

 

[junglejim]

You have no idea what you are talking about but I do appreciate you acknowledging you based your rant on a bunch of wild assumptions.

You are right Delk, I have zero experience in this area. As for your question about whether it’s a hobby or qualifying business, I’ve included the test from the IRS for you.

I’m guessing you do very few of these things, but again, I know very little about how this **** works and have never run into this in practice.

Given that I know you are a lawyer, I know you don’t depend on the income. Given that you don’t know the difference between profit and loss, I can tell you probably are not keeping financial statements. Knowing you are white I know that you don’t have sufficient knowledge of the business.

If this makes you feel better about stealing money from real businesses who have real employees who depend on the business to provide them a paycheck then whatever, you do you.

 

[moonman818]

jumbo jim got time today

 

[Methodical Management]

Coincidentally..they said she has it...and it's 'bad'

You already know fam.

No, Ghislaine Maxwell Has Not Tested Positive for COVID-19 in Jail

A routine review of content labeled satire.

www.snopes.com

It was meant to benefit small business owners. The fact that I would be fine without it doesn't mean that I did something against the intent of the program.

I didn't see that language on the app.

If only they’d made it clearer.

Paycheck Protection Program | U.S. Small Business Administration

www.sba.gov

Reminder:

Up to 90% of minority and women owners shut out of Paycheck Protection Program, experts fear

"I never thought I'd get anything because I am a minority and a woman," said one owner after her loan was rejected.

www.cbsnews.com

 

[aepps20]

Did Delk Fraudulently obtain PPP funds?

 

[Sharpshoeter13]

Did Delk Fraudulently obtain PPP funds?

PedoProtectionProgram funds?!

#RoyMooreApproves

 

[freeze]

No, Ghislaine Maxwell Has Not Tested Positive for COVID-19 in Jail

A routine review of content labeled satire.

www.snopes.com

If only they’d made it clearer.

Paycheck Protection Program | U.S. Small Business Administration

www.sba.gov

Reminder:

Up to 90% of minority and women owners shut out of Paycheck Protection Program, experts fear

"I never thought I'd get anything because I am a minority and a woman," said one owner after her loan was rejected.

www.cbsnews.com

Ohh good looks. I read she had it on IG again today lol. You just never know until you see Snopes say yay or nay.

 

[junglejim]

Did Delk Fraudulently obtain PPP funds?

Yes, he 100% committed fraud then came in here and bragged about it