Kevin Slater

Per annual tradition:

Revenue was flat from 2021 to 2022.

36% of 2022 revenue came from the year’s top three clients, down from 46% in 2021.

Kevin Slater

In 2022, there were ~100 days where I saw no clients.  That's higher than usual because I did a lot of personal travel (and plan to keep doing so).

Kevin Slater

I live in Times Square, within the cordoned-off ball drop zone.  I always love the guy who calls me at 11pm looking for an incall.

Kevin Slater

1 hour ago, John said:

Simple.  Some of us contact multiple providers before making a decision: to make sure they are interested, to check a few requirements, to see how they respond.  Doing it by text puts a lot of strange numbers in my phone and increases the risk of an inappropriate message ("hey stud, wanna....") popping up at an inappropriate time (it happens).  Of course, once the date is firm I have no problem switching to text.

Which is exactly why I require a phone number.  Hit me up when you're serious about hiring me, not kicking tires.

Kevin Slater

1 hour ago, Philly50 said:

Understood. But I'm not talking about endless messages. My initial communication might be something along the lines of complimenting their pics, followed by a brief description of the sort of session I'm looking for, the general vicinity where I'm located, and a question as to rates and if he does in or out calls. And I send a face pic.

Based on the response, I generally know whether I want to send him my number. If his rate is too high or if he only does in calls and he's too far away, I generally won't. If he's arrogant or flakey, the same. I'm just trying to find out if he is someone I might want to hire.

Heard.  But what's the fear of doing that via text?

Kevin Slater

1 hour ago, Philly50 said:

My preference is to establish communication via RM messages, and once I feel comfortable, then switch to texts. In other words, I'd rather not give out my phone number until the provider has given me some evidence that he's not a flake or worse.

 

And I don't want to trade countless rentmen messages with you until I know you're not just fantasizing.  A phone number means you have some skin in the game, not just getting the keyboard sticky.

And I'll have my communications on a platform I control (text or preferably iMessage), not one controlled by some outside party.

Kevin Slater

35 minutes ago, CJK said:

 

 

Prior to 2007, self-employment income would be verified for something like a mortgage by having the potential borrower provide a copy of his tax returns. People started filling out fake tax returns to show fake income.

Lenders started pulling tax transcripts to ensure what was handed to them was the actual return, so fraudsters started filing fake amended tax returns showing inflated income. Borrowers would often create a fictitious business and fill out Schedule C. These became known as hair-braider loans after an frequently used sole-proprietor type. The lender would pull the transcript, the figures would match. By increasing the income, the taxpayer would owe more tax, but the IRS would allow a payment plan. After the loan was granted, the borrower would file another amended return bringing the income back down and wiping out the additional taxes.

Lenders caught on and would not grant loans where there were amended returns without proof there was no increase in income and pulling transcripts up to six months after the loan closed. But the problem still existed. 

So now lenders require proof that the borrower engages in the proclaimed business. For example, with a therapist, a state license and a check with 411 to see if there is s telephone listing might work. With a hairdresser, the license and a copy of a published ad. Heck, once a plumber provided a picture of the side of his truck which showed the business name and contact information. A stripper might provide a letter from the strip club owner on letterhead, which would then be independently verified by looking up the club's phone number and business license followed by calling to get telephone verification. 

That explains a lot.  For each of my rental property purchases, the mortgage process got increasingly invasive.  I would have thought seeing my 1040 with all its schedules (and verifying that it was the same as filed with the IRS) would be enough, but this makes sense.  It's also why I recently declined to pick up a fourth property-- they were already greasing up the probe. 

Kevin Slater

57 minutes ago, ThroatCummer said:

Despite the negative news surrounding FTX and whatever your thoughts are on cryptocurrency, the fact remains it is a mostly anonymous network that allows anyone in the world to transmit money instantly to anyone, without any trusted third party, as easily as sending an e-mail. It would behoove providers to get on board (e.g., have a mobile wallet and receiving address; advertise that digital currency is accepted) as the focus on traditional payments gets tighter and tighter over the coming years. 

Or just pay your taxes.

Kevin Slater

14 minutes ago, dbar123 said:

In the future, it looks like providers who use Venmo and PayPal will be forced into filing.

There's already a discussion of that here. 

Kevin Slater

4 hours ago, Vegas_nw1982 said:

I was under the impression the reporting requirements for the client applied for hiring independent people, regardless if it's for a client's business or personal use.

For example, if a household hires a person to be a nanny or a weekly housekeeper, the household doing the hiring must file Form 1099.  This does not apply if the household is paying a business who sends the housekeeper or nanny.

To me, hiring a massage or sex provider must follow the same logic.  If the massage or sex provider has a business set up and the client pays the business, then no reporting from the client is required.

You're talking about the nanny tax.  The distinction there is that the nanny is characterized by the IRS as an employee: she works exclusively for one family, they control how her work is performed and set her regular hours.  Independent contractors, however, are not subject to nanny taxes.  You would have to withhold social security and medicare taxes, unemployment insurance, etc. from the nanny's wages, but not so for the gardener (assuming you are one of his several accounts), pool boy or escort, all of whom are independent contractors.

To correct your examples above, you would not issue a 1099 to the weekly housekeeper (again, unless you hired her though your own small business). 

Kevin Slater

5 hours ago, coriolis888 said:

Zelle is not exempt for reporting amounts paid in excess of $600.00 annually for services rendered.    

Yes, it is.

5 hours ago, coriolis888 said:

On the other hand, if the sender files a Form 1099, as would be appropriate, there is expense or work involved for the preparation of the information tax return and the necessity to obtain the true name of the provider as well as his address and social security number.

That would only be appropriate if you were hiring him in the course of operating a business.  So long as it's a personal expense, there is indeed no reporting requirement on the client side.

2 hours ago, coriolis888 said:

As I wrote previously, if you see the same escort a lot and pay the escort $17,000 during a calendar year,  you must file a gift tax return if you insist that the payments were gifts rather than payment for services rendered.

It's payment for personal services rendered.  You, the client, have no reporting requirement.  End of story.

Kevin Slater

Just now, Bucky said:

Thinking there's a chance the new May rate is higher than the current?  Isn't that 'highly' unlikely?  

Also depends on what happens to the fixed rate portion.

Kevin Slater

3 hours ago, BuffaloKyle said:

How many of you guys are gonna get another $10k next month? All of us who bought i bonds this past summer can buy more in January. With the interest rate on them still better than my high interest savings account which is at 3.75% I'll buy another round.

I'll probably buy $5k in January, another $5k with my tax refund, and then see the rate announcement in late April before deciding whether to buy the third tranche in April or May.

Kevin Slater

28 minutes ago, glutes said:

How can you tell it is a burner number?

When you call it, you get some bullshit message saying “the Text2Mail number you’re calling doesn’t accept incoming calls” or the like. 
Kevin Slater 

3 hours ago, jtwalker said:

Hmm, I guess I need to burn the burner number after a bad review.  Good to know.

Which is why I don't engage with any burner number.

Kevin Slater

It's hard to parse what your post is trying to say, but it sounds like you have multiple instances of cancelling with short notice.  So why even book in advance, rather than waiting til you know you're actually free?  If you want to reply "because my time is limited and I want to be sure that he'll be available when I might be" I'd ask why the provider isn't afforded the same consideration.

Kevin Slater

So it turns out the current rate (6.89%) is better than the previous 9.62% due to the fixed rate component (.4% vs 0%).  In just four years the "lower" rate new issues will be worth more than the previous batch, as the .4% is guaranteed for the life of the bond. 

https://finance.yahoo.com/news/pays-procrastinate-6-89-bonds-175401666.html

Kevin Slater

Client just brought him into my place.  I wouldn't call it an abundance of personality.

Kevin Slater

So... what are you wearing?

Kevin Slater

Fidelity offers a Visa with 2% cash back on everything.  I do not, however, use it.

Kevin Slater

Aww hell no.  What little decorum we have would be thrown out the window if people could post with no skin in the game.  If you don't have the balls to stand behind it, it probably shouldn't be posted in a public forum.

Kevin Slater (qua member)

Oh, I don't mind when the ATMs describe me as meat.

Kevin Slater

I say it's the provider's job to keep track of time.  He's the professional in the room.  Your only job is to relax and have fun.

Kevin Slater

I'm under the impression that not speaking english would be a benefit to finding your Über, as none of the drivers do either.

Kevin Slater

My experience informs me that the likelihood of a booking actually happening is inversely proportional to the amount of advance notice.

I've always experienced it from the escort's perspective, but perhaps it holds both ways.

Kevin Slater