Kevin Slater

Moderator’s note: Let’s get back to the subject of this thread, the passing of Adam Rich.

There are a lot of interesting little (and not so little) changes in there. For example some RMD changes even higher catch-up contributions for ages 60 to 63 (starting in 2025) solo 401s can now be established and funded by employee contributions after the calendar year but before the filing deadline (starting with tax year 2023-- drat!) SEP and SIMPLE IRAs can now be Roth Thanks for posting. Kevin Slater

Just that the phishing spam messages always say he's an engineer from Nigeria. You'd have to ask him. Kevin Slater

The clients. 😜 Kevin Slater

Scratch that. The plan had to be set up during the calendar year, and employee contributions had to be made in the calendar year as well. Kevin Slater

That’s on my radar for tax year 2022. Kevin Slater

Thanks. The rack rate remains constant, but there's noise: rentmen (the dominant site) doesn't allow one to publish rates, so those may be a little loosey goosey. Never to the downside in my case, but I may sometimes quote a higher number. the business model is increasingly moving away from hourly sessions in any case. Kevin Slater

That is not the standard for financial reporting. Kevin Slater

Why lose the weight? You're great the way you are. Kevin Slater

Yeah, I stole the schema after seeing a friend's course schedule from UC Davis. Although to really nerd out, it really ought to be H, which is unique only to Thursday, whereas Friday shares the R. Kevin Slater

Cuz T and S are taken. Kevin Slater

So you're the asshole stealing all my Tuesday business! Kevin Slater

Lifetime revenue, by day of the week. Kevin Slater

I was brand new to the biz. Give a guy a chance to learn the ropes! Kevin Slater

You joke, but there is a non-negligible chance of something similar. In which case I'd be happy to amend the report. 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

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

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

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

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

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

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

Also depends on what happens to the fixed rate portion. Kevin Slater

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