Satoshi Pacioli Accounting
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Satoshi Pacioli Accounting
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The Bitcoin Accounting Firm
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SATS
2 days ago•••
When people say “you got lucky” to me I think I’m going to start responding “actually I’m one of the people who made this happen”
I suggest you do the same.
Collectively together. We did this.
No normie envy can ever undo that simple fact.
33 hours ago•••
This is a perfect response! ty!
47 hours ago•••
I got a thank you note from someone I explained bitcoin to years ago. Those saying “you got lucky” today may be those who will say thank you tomorrow.
2 days ago•••
Is an S-Corp Right for You? 💼
✅ You’ll get tax savings, liability protection, and a professional edge. ⚠️ But it comes with admin work and rules to follow.
The bottom line: If you want to cut taxes AND grow your biz, it’s worth a look. Just talk to a tax pro before diving in!
👉 Got questions? Drop ‘em below or DM us—We’ve got you!
3 days ago•••
Who’s a Good Fit for an S-Corp? 🤝
S-Corps shine for: ✔️ Small-to-medium businesses with steady profits. ✔️ Owners actively working in the biz who want to save on taxes. ✔️ Anyone okay with handling the paperwork and payroll.
But they’re NOT ideal if: ❌ You’re chasing big investors. ❌ You’ve got foreign partners or need multiple stock types.
Got steady cash flow? This might be your sweet spot.
4 days ago•••
The Downsides of S-Corps 😬
Not everything’s sunshine and tax savings. Here’s the deal:
⚠️ Strict Rules: Max 100 U.S. shareholders, and only one type of stock allowed. ⚠️ Admin Work: Meetings, minutes, payroll, filings. ⚠️ “Reasonable Salary” Rule: The IRS expects owner-employees to pay themselves a fair wage (yes, even if profits are tight).
Make sure the benefits outweigh the hassle for your business.
5 days ago•••
The Perks of an S-Corporation 🎉
S-Corps have some awesome benefits:
✅ Tax Savings: Only taxed at the owner level, not the biz level. ✅ Lower Self-Employment Taxes: Pay yourself a salary, take the rest as tax-free distributions. ✅ Liability Protection: Keeps your personal assets safe. ✅ Extra Tax Deductions: Like up to 20% off qualified biz income (QBI).
Sounds like a win all around, right?
6 days ago•••
This week we will be highlighting S-Corporations!
What is an S-Corporation? 🤔
An S-Corp is a business structure that combines tax perks with personal asset protection. You avoid double taxation by passing profits (and losses) straight to shareholders.
✨ Key Facts: • No corporate taxes 💰 • Limited liability 🛡️ • Max 100 shareholders 👥
Thinking about an S-Corp for your business? Check back tomorrow for the pros and cons! 👇
16 days ago•••
💼 Resources for Filing Your FinCEN Report If you need assistance with your Beneficial Ownership Information report, consider using services like Doola, Fondo, or Accountalent. Some payroll providers (like Gusto) may also help. There’s a YouTube video available that walks through the process step-by-step: YouTube Link. Non-compliance can lead to penalties of $500/day, so it’s worth completing on time.
20 days ago•••
📢 New FinCEN Reporting Requirement for Corporations and LLCs If you own a Corporation or LLC (including Partnerships, S-Corps, or Single-Member LLCs), FinCEN now requires that you register your business by January 1, 2025. Most business owners will need to file, with limited exceptions, like large companies with 20+ employees and $5M+ revenue or certain tax-exempt entities. Filing can be done on the FinCEN BOI website. Make sure to check if this applies to you.
16 days ago•••
Would a checkbook IRA need to file a BOI report?
16 days ago•••
It looks like the answer to this is yes.
Shoot us an email at tax@satoshipacioli.com and we'll forward a message we sent out to our clients with further details.
nprofile1qqs88hajw9x3wqr4h6tg8m532eyxadw7356d6wdg089d4e29rpjkg4gpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq37amnwvaz7tmwdaehgu3wv45kuatwv3a8wctw0f5kwtnnwpskxegur4wzj
19 days ago•••
👥 FinCEN Compliance: Required Information To comply with FinCEN’s new rule, businesses must report “Beneficial Owners” (anyone with at least 25% ownership or control) and, for 2024 registrations, information on “Company Applicants.” Be prepared to upload a U.S. passport or driver’s license for these individuals. This is a one-time filing, though any changes in ownership or company details will need to be updated within 30 days.
20 days ago•••
Monday - Mining Tuesday - Nashbitdevs Wednesday- Nostrville 2.0 + afterparty
🎉🥃🎶🌮
20 days ago•••
🔥🔥🔥
23 days ago•••
The libertarian avengers uniting. 🙃
23 days ago•••
Ron Paul 👀
23 days ago•••
The libertarian avengers uniting. 🙃
24 days ago•••
I had never tinkered with mining before...
So I grabbed an Ultra from @AVERAGE_GARY.
Then my Ultra got lonely...
So I grabbed a Supra from @npub1k8s...6y88.
Then they got lonely...
So I grabbed a Gamma from @CryptoCloaks™.
I love these Bitaxes! Thank you for leading the way, @npub1ql2...rxya!
24 days ago•••
THIS IS THE WAY 🤙
27 days ago•••
Bitcoin Tax Tip of the day.
Bitcoin held over a year is taxed at a lower rate in the US.
Even the IRS wants you to Hold.
25 days ago•••
Following up on yesterday's tax tip...
You might have heard about tax lost harvesting. Selling bitcoin and then buying it right to recognize a loss for a given tax year.
But would you ever want to harvest a tax gain? Maybe if your gains are taxed at zero percent.
Let's walk through an example.
You are retired/didn't have any income for the year. You have 1 bitcoin purchased over a year ago at $60k. Bitcoin goes up to 100k. You could potentially sell, buy it right back. Realize the $40k gain taxes at zero %. And your new cost based goes from $60k to $100k
27 days ago•••
Bitcoin Tax Tip of the day.
Bitcoin held over a year is taxed at a lower rate in the US.
Even the IRS wants you to Hold.
26 days ago•••
What do you do when you can’t determine or prove the cost basis of a UTXO? Take the L and use $0 or will the IRS accept an educated estimate?
25 days ago•••
Hard to say what position the IRS would take. I'm not aware of any active cases to reference. I would say it doesn't have to tie back to an individual UTXO, but ideally some record of activity either from a wallet or exchange.
25 days ago•••
Gotcha
26 days ago•••
Please keep these coming 🙏
26 days ago•••
I'll be reaching out soon. Thnx for the reminder.
26 days ago•••
Did you know that the lowest rate for long-term capital gains is actually 0%?
If you earn under $47k as single filer or $94k as a married couple, your gain on bitcoin held over one year might be ZERO!
Tax Tip of the Day.
27 days ago•••
Bitcoin Tax Tip of the day.
Bitcoin held over a year is taxed at a lower rate in the US.
Even the IRS wants you to Hold.
26 days ago•••
Plus standard deduction, yes?
26 days ago•••
Correct, those amounts are taxable income, which is after standard/itemized deductions.
26 days ago•••
The more you know 🤔
26 days ago•••
Did you know that the lowest rate for long-term capital gains is actually 0%?
If you earn under $47k as single filer or $94k as a married couple, your gain on bitcoin held over one year might be ZERO!
Tax Tip of the Day.
27 days ago•••
Bitcoin Tax Tip of the day.
Bitcoin held over a year is taxed at a lower rate in the US.
Even the IRS wants you to Hold.
25 days ago•••
Following up on yesterday's tax tip...
You might have heard about tax lost harvesting. Selling bitcoin and then buying it right to recognize a loss for a given tax year.
But would you ever want to harvest a tax gain? Maybe if your gains are taxed at zero percent.
Let's walk through an example.
You are retired/didn't have any income for the year. You have 1 bitcoin purchased over a year ago at $60k. Bitcoin goes up to 100k. You could potentially sell, buy it right back. Realize the $40k gain taxes at zero %. And your new cost based goes from $60k to $100k
27 days ago•••
Bitcoin Tax Tip of the day.
Bitcoin held over a year is taxed at a lower rate in the US.
Even the IRS wants you to Hold.
25 days ago•••
POST MORE NOTES. ZAP MORE NOTES. REPOST MORE NOTES. FOLLOW MORE NPUBS.
BE THE CHANGE YOU WANT TO SEE IN THE WORLD.
24 days ago•••
25 days ago•••
🫡
25 days ago•••
Stop telling me what to do, dad.
25 days ago•••
I AM NOT ANGRY.
JUST DISAPPOINTED.
25 days ago•••
I think we are used to massive user bases on legacy apps but most of that base is fake and always has been.
25 days ago•••
LESGOOOOOOOO 🚀
25 days ago•••
I am literally shaking right now amboss.space/stats
#lightningnetwork
26 days ago•••
#memes #funny
27 days ago•••
IT IS INSANE THAT VOTING MACHINES ARE NOT OPEN SOURCE.
27 days ago•••
It would be if the states using those machines didn’t want to have the option to cheat
If every state wanted an honest election they would have paper ballots like FL and they would count them all on election day
27 days ago•••
Insane that we even have voting machines. Paper only.
27 days ago•••
FAIR BUT ALSO OPEN SOURCE ELECTRONIC MACHINES WITH A PAPER RECEIPT YOU MANUALLY DROP IN AN AUDIT BOX IS A FINE COMPROMISE.
26 days ago•••
True. I’m ok with that.
27 days ago•••
They want to have the option to cheat and have plausible deniability
Simplest explanation
35 days ago•••
hey @ODELL, almost exactly a year ago I was one of the top 5 boosts on RHR where I shared that I completed half-marathon in under 2 hours and reached out to health conscious #bitcoiners . Of course your immediate response was "wen full marathon?" Well, today's that day. I did it. Please repost for visibility.
35 days ago•••
IMPRESSIVE SIR. 🫡
YOUR LN ADDRESS IS BROKEN.
34 days ago•••
thanks Matt 🫡 hmmm, I have my Fountain address as my LN address on Nostr I believe. a couple of people sent a few sats to that address successfully today. but also a few people failed to zap. is it possible to zap to Fountain addresses? I'm hoping someone will tell me help me set up my Nostr so I can receive zaps 😄
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