DSP's Loan & Savings Company

[Commander Keen]

IIRC, Destiny is in Nebraska and he does fine streaming. While I don't know the taxes and shit, it's not a coastal state, and by virtue of that, the cost of living is probably far lower than it would be in Connecticut, Seattle, or most anywhere else. Any decent sized mid-west city would've been more than enough for him; but he needs to flex on the haters... while begging his fanbase for money.

The dude is a yankee. He ain’t gonna live in the Midwest or south or southwest (Texas/New Mexico) because he thinks the people there are cavemen. Happens all the time, people from the northeast or west coast move to the Midwest or southern areas for work and they constantly bitch about how shitty everything is.

DSP actually said Nashville was full of “down home country music” and “down home country boys”. Nashville is so infused with pop culture it’s pretty much a plastic city and tourist trap. Calling something a “Nashville sound” is a backhanded compliment.

Edit: I shudder to think of DSP meeting some “down home country boys” in a bar or some other social setting. Some real white trash rednecks. The meth bootlegging type.

 

[Grotesque Bushes]

I'm not following mr Burnell that closely, so I'd like someone to shed some light on this video made by some dude:

https://www.youtube.com/watch?v=N9H5rbXxxB8

It states that Phil has to pay 16k worth of taxes by April. It also states that last year he owed 10k. I see two basic options here:

1. Phil didn't pay a single cent of last year's taxes [or rather, hadn't paid off the credit card debt that paid for said taxes], so Anno Domini 2019 he has to pay off 10k from before, and another 6k for this year.
2. Phil paid off last year's taxes [including credit card debt that actually paid for said taxes] and has to shell out 16k to cover the taxes for 2018 alone.

I'm not a burger, have no idea how your tax system in general, or Washington's specifically works. I've just used http://us.icalculator.info/tax-calculator/annual.html to look up some values. For Phil's federal taxes to be high enough to cover the two cases above his income has to be respectively:

1. Just barely under 60k in 2018, which puts him alone at the median household earning value for USA. With the income of his girlfriend/spouse/whatever they're comfortably above that.
2. Phil had to earn 104k in 2018, and he had neither paid a cent of tax throughout the whole year, nor saved up anything to pay the goddamn thing.

At this point I'm not sure if I want to know which option is true, either way the man is retarded.

 

[KingjadVCMP]

Just curious, would it make any difference if Kat is officially a resident of the Renton kahndo or not? Purely from the point of view that a household's monies owed to the taxman and such could be dependant on such details. Or is Phil's income so high (and yet mainly wasted) that such thinking is irrelevant?

 

[actually]

I'm not following mr Burnell that closely, so I'd like someone to shed some light on this video made by some dude:

https://www.youtube.com/watch?v=N9H5rbXxxB8

It states that Phil has to pay 16k worth of taxes by April. It also states that last year he owed 10k. I see two basic options here:

1. Phil didn't pay a single cent of last year's taxes [or rather, hadn't paid off the credit card debt that paid for said taxes], so Anno Domini 2019 he has to pay off 10k from before, and another 6k for this year.
2. Phil paid off last year's taxes [including credit card debt that actually paid for said taxes] and has to shell out 16k to cover the taxes for 2018 alone.

I'm not a burger, have no idea how your tax system in general, or Washington's specifically works. I've just used http://us.icalculator.info/tax-calculator/annual.html to look up some values. For Phil's federal taxes to be high enough to cover the two cases above his income has to be respectively:

1. Just barely under 60k in 2018, which puts him alone at the median household earning value for USA. With the income of his girlfriend/spouse/whatever they're comfortably above that.
2. Phil had to earn 104k in 2018, and he had neither paid a cent of tax throughout the whole year, nor saved up anything to pay the goddamn thing.

At this point I'm not sure if I want to know which option is true, either way the man is exceptional.

Hi, one of the resident math-tists here. He claimed (in the Thanksgiving begging video, I think) that he put the $10k from last year on credit cards. This is a tacit admission that all the money he was given during his #savethehouse fundraisers at the end of 2017 went, in fact, to moving Kat in and buying her things. But that's an aside.

As for this year, the $16k is just for taxes in 2018 and correspond to some who made $100k+, as you note in your 2nd point 2. So yes, by his own claims, and by the amount he asked people to give him above and beyond what he normally expects, he made more than $100k+ in 2018 and put absolutely none of it aside for taxes. This seems, by the way, to be how he has always operated--putting his taxes on credit cards and then making payments on those instead of paying the taxes directly. Meaning he pays a shitload in interest.

Just curious, would it make any difference if Kat is officially a resident of the Renton kahndo or not? Purely from the point of view that a household's monies owed to the taxman and such could be dependant on such details. Or is Phil's income so high (and yet mainly wasted) that such thinking is irrelevant?

Her being there would only matter if they filed jointly, for the most part. There might be a few other points that it could affect, but nothing major.

 

[ReentryPhantom]

Just curious, would it make any difference if Kat is officially a resident of the Renton kahndo or not? Purely from the point of view that a household's monies owed to the taxman and such could be dependant on such details. Or is Phil's income so high (and yet mainly wasted) that such thinking is irrelevant?

Well, she is registered to vote in WA, so I would consider her a Washington native now.

 

[Grotesque Bushes]

he made more than $100k+ in 2018 and put absolutely none of it aside for taxes. This seems, by the way, to be how he has always operated--putting his taxes on credit cards and then making payments on those instead of paying the taxes directly.

This man is violently retarded. He is almost 40, and he's either the most fiscally irresponsible person that's not a drug addict, or an abusive scanner. I am sorry that I've ever looked into the stream masturbator, I never thought it could get this bad.
I am stayings to understand his "detractors".

 

[Prince Lotor]

I'm not following mr Burnell that closely, so I'd like someone to shed some light on this video made by some dude:

https://www.youtube.com/watch?v=N9H5rbXxxB8

It states that Phil has to pay 16k worth of taxes by April. It also states that last year he owed 10k. I see two basic options here:

1. Phil didn't pay a single cent of last year's taxes [or rather, hadn't paid off the credit card debt that paid for said taxes], so Anno Domini 2019 he has to pay off 10k from before, and another 6k for this year.
2. Phil paid off last year's taxes [including credit card debt that actually paid for said taxes] and has to shell out 16k to cover the taxes for 2018 alone.

I'm not a burger, have no idea how your tax system in general, or Washington's specifically works. I've just used http://us.icalculator.info/tax-calculator/annual.html to look up some values. For Phil's federal taxes to be high enough to cover the two cases above his income has to be respectively:

1. Just barely under 60k in 2018, which puts him alone at the median household earning value for USA. With the income of his girlfriend/spouse/whatever they're comfortably above that.
2. Phil had to earn 104k in 2018, and he had neither paid a cent of tax throughout the whole year, nor saved up anything to pay the goddamn thing.

At this point I'm not sure if I want to know which option is true, either way the man is exceptional.

You're just getting a little confused on the terms. The $10K that Phil put on his credit cards occurred during June 2018, and was to pay his Washington State Business & Occupation backtaxes from 2014 to 2016 that he wasn't paying because 'It's naht a business'. The B&O Washington State tax rate that he seems to be paying is 1.5% and puts his 2014 through 2016 income also at $100K+. Not all of the $10K went to pay his backtaxes, he also paid a "Tax Attorney" thousands of dollars to file the paperwork for him probably around $3K to $4K+ as part of that $10K. He paid his 2017 B&O state taxes January 2018 when they were due, likely around $1,500, but cried that this issue had already cost him 'thousands and thousands of dollars' so also in January 2018 likely paid his "Tax Attorney" $1,500 or more. He presumably paid his 2018 B&O taxes recently in January 2019, likely one of the "bills" he was crying about with his daily $200+ Tip Goals.

In April 2018 Phil stated that after the preparation of his 2017 Federal Income Tax filing, for which he paid his "Tax Attorney" another $1K, he had been found to owe the Federal goverment more money for his Federal Income Tax than he had paid in 2017 for his Quarterly Estimated Income Tax payments to the tune of around $2K to $3K. This would indicate he made a good deal more money in 2017 than in 2016.

Every year before 2018 he would put his Federal Quarterly Estimated Income Tax payments on his credit cards, but due to all these other payments in 2018 he had 'maxed out' his credit cards, and so decided not to make the Quarterly payments and instead just pay his entire Federal Tax liability on his 2018 $100K+ annual income all at once in April 2019. . .somehow. This is the current $16K he is begging for.

TL;DR Because for years he wasn't paying his State business taxes, in 2018 he had to pay 4 years worth of business taxes (1.5% of $400K to $500K) and he paid a "Tax Attorney" $5.5K to $8K to deal with it for him. This caused him to 'max out' his credit cards so he decided not to pay the installments on his 2018 Federal Income Tax liability, he now is demanding that his fans pay that Federal Income Tax liability on his $100K+ for him. He has known and openly stated he was not making these payments since he skipped the first 2018 payment on April 17th, 2018 (actual due date April 15th got pushed back due to weekend and a Federal holiday).

Just remember anytime this fat fagot cries poor every year since 2014 he has made $100K+ and before that he was making even more for 2 years.

 

[James Smith]

Also remember when we say DSP makes $100K+ a year we're being conservative. He really makes a ton of money, potentially in the $150K range.

 

[actually]

Also remember when we say DSP makes $100K+ a year we're being conservative. He really makes a ton of money, potentially in the $150K range.

Yeah, this is a good point. While cheers can be tracked well, and most of subs can be as well, we can only count tips that show up during stream (or that Phil calls out as having happened off-stream). If someone actually did donate, say, $1000 directly to Phil and he didn't say anything, nobody would ever know. Youtube revenue is also a total crapshoot wherein only a wide range can be put on it.

 

[thebonesauce]

Hi, one of the resident math-tists here. He claimed (in the Thanksgiving begging video, I think) that he put the $10k from last year on credit cards. This is a tacit admission that all the money he was given during his #savethehouse fundraisers at the end of 2017 went, in fact, to moving Kat in and buying her things. But that's an aside.

As for this year, the $16k is just for taxes in 2018 and correspond to some who made $100k+, as you note in your 2nd point 2. So yes, by his own claims, and by the amount he asked people to give him above and beyond what he normally expects, he made more than $100k+ in 2018 and put absolutely none of it aside for taxes. This seems, by the way, to be how he has always operated--putting his taxes on credit cards and then making payments on those instead of paying the taxes directly. Meaning he pays a shitload in interest.



Her being there would only matter if they filed jointly, for the most part. There might be a few other points that it could affect, but nothing major.

While I’m unsure of tenancy law in Washington, but in my state, if the person in question stays within the residence 2-3 days a week (can’t remember if it’s 2 or 3) they are considered residents. As far as finances, I don’t think she really gives Phil any money for shit neither of them need. That is Phil’s job to buy useless shit to add to his hoard.

 

[Salubrious]

Does Twitch pay him on different days of the month or something?

He just said that he needs tips tonight because he doesn't get Twitch money until the 15th and he's already spent the Patreon money and tips money from last week and his bank account is zeroed.

Is it a surprise that Twitch money isn't coming in for 10 days? When does Youtube money come in?

Also, wouldn't this be the $12K from Emerald Seven, or is that in March?

 

[ReentryPhantom]

Does Twitch pay him on different days of the month or something?

He just said that he needs tips tonight because he doesn't get Twitch money until the 15th and he's already spent the Patreon money and tips money from last week and his bank account is zeroed.

Is it a surprise that Twitch money isn't coming in for 10 days? When does Youtube money come in?

Also, wouldn't this be the $12K from Emerald Seven, or is that in March?

It's usually the 15th of the month and yes, the Emerald Seven money comes in this month.

 

[James Smith]

his bank account is zeroed.

No it's not. He just got $500+ from Patreon and like $75 in tips today. He'll be fine.

Also, wouldn't this be the $12K from Emerald Seven, or is that in March?

That's this month. $17K paycheck. woe is he.

 

[James Smith]

Spoiler: DSP said he could lower his credit card payments by $2500 if he refinanced.

DSP said if he can refinance his condo in Washington he may be able to lower his payments (he didn't say which payments) by up to $2500.

A refinance of the condo in Washington would have no effect on the payments toward the condo in Connecticut. He was not talking about this payment.

DSP has repeatedly said his mortgage payment for the condo in Washington is about $1500. It's impossible for him to lower that payment by $2500. He was not talking about this payment.

DSP has said he has a lot of credit card debt. It's possible he has a minimum monthly payment of over $2500. He was probably talking about these payments.

Spoiler: DSP owes over $63K in credit card debt.

Typical minimum monthly payments for credit cards are between 2-4% of the total balance.

To convert a minimum monthly payment to a total balance owed you divide the minimum monthly payment by 2%-4%.

In DSP's case you divide $2500 by 2% to get $125K. You divide $2500 by 4% and get $63K.

DSP has over $63K in credit card debt. DSP probably has about $125K in credit card debt.

Spoiler: DSP probably has $345K in residential debt.

If you look at property tax records in Stratford County, Connecticut here you can see that DSP bought the condo in Connecticut for $131K in June of 2009. If you go here you can see the 30 year fixed-rate mortgage interest rate that month was 5.42%. If you punch that sale price, sale date, and interest rate into a mortgage amortization calculator like this one and scroll down to the today you'll see DSP probably still owes $109K on that condo.

Repeat the process using this site for the sale price of $265K and sale date of May 2014. The fixed-rate 30 year mortgage interest rate for that month was 4.19%. You'll see DSP probably still owes $236K on that condo.

DSP probably has $345K in residential debt.

DSP has over $408K in debt. DSP probably has about $470K in debt.

DSP: "Please pour glasses of water on me"
> The water seeps into the ground.
DSP: "If you can keep pouring for one day, there'll be a puddle and I'll never have to ask again!"
> The puddle seeps into the ground.

repeat

 

[actually]

@SoapQueen1 -- can you break down how a refinance would (ideally) work out for Phil? With $470k in debt, I'm not clear how the re-fi would make much of a dent outside of lowering his payments and basically stretching the debt over a longer period of time (presumably with more interest?).

 

[James Smith]

@SoapQueen1 -- can you break down how a refinance would (ideally) work out for Phil? With $470k in debt, I'm not clear how the re-fi would make much of a dent outside of lowering his payments and basically stretching the debt over a longer period of time (presumably with more interest?).

He keeps saying refinance over and over again but I think what he's really trying to do it get another loan against the equity in his condo.

 

[Prince Lotor]

@SoapQueen1 -- can you break down how a refinance would (ideally) work out for Phil? With $470k in debt, I'm not clear how the re-fi would make much of a dent outside of lowering his payments and basically stretching the debt over a longer period of time (presumably with more interest?).

He has to be applying for a home equity loan against the increased property value of the Wakondo.

All paying off his credit card debt with the home equity loan would do is cut his interest payments on that debt by half, maybe more depending on how shitty the interest rates on the specific cards are. It still won't actually pay off that debt at all, he's just transferring that debt again except now he will lose the Wakondo when he can't pay that debt off.

It's literally just using his condo as the new credit card that he's daisy-chaining his credit debt through.

 

[Authentic Sauce]

@SoapQueen1 -- can you break down how a refinance would (ideally) work out for Phil? With $470k in debt, I'm not clear how the re-fi would make much of a dent outside of lowering his payments and basically stretching the debt over a longer period of time (presumably with more interest?).

https://www.mortgagecalculators.info/calc-cash-out-refi.php#begincontent

You can play around with this cash out refinance calculator, the original loan amount was 251k, would have somewhere around 305 months left on the current loan and would need to maintain 80% LTV. To @Prince Lotor point he likely can't even roll all the cc debt into the house. The refinance I believe would save him about 200 per month by eliminating the need for PMI, but this calculator ignores that anyway

Edit: this post is the source for 251k for the house which aligns with 5% down payment
DSP & where he lives/lived

 

[actually]

https://www.mortgagecalculators.info/calc-cash-out-refi.php#begincontent

You can play around with this cash out refinance calculator, the original loan amount was 251k, would have somewhere around 305 months left on the current loan and would need to maintain 80% LTV. To @Prince Lotor point he likely can't even roll all the cc debt into the house. The refinance I believe would save him about 200 per month by eliminating the need for PMI, but this calculator ignores that anyway

Edit: this post is the source for 251k for the house which aligns with 5% down payment
DSP & where he lives/lived

Thanks for that. Looks like the closing costs will be in the thousands of dollars too. I guess he might be able to get that rolled in somewhere, but that's a massive chunk of change to try and come up with. Guess we can be on the look out for any sudden REEEmergency fundraising on the order of $5-8k that's not around tax season.

 

[Sphadilcastro]

A refinance of the condo in Washington would have no effect on the payments toward the condo in Connecticut. He was not talking about this payment.

DSP has repeatedly said his mortgage payment for the condo in Washington is about $1500. It's impossible for him to lower that payment by $2500. He was not talking about this payment.

DSP has said he has a lot of credit card debt. It's possible he has a minimum monthly payment of over $2500. He was probably

Maybe he's planning on paying off the Connecticut condo with the refinance money.