Michael Gant @mgant

@TomOatesWSJ Is it too much to ask to have our team win 25-30 games each year and make the Elite 8 every other year? Sprinkle in a Final Four run every 4yrs? I mean I think that is doable…

@markcecchini all.the.time glad I am not alone…

A snowy night in downtown Madison

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TAX MAN: Hey you! Your W-2 is ready. Pumped for tax season. ME: Awesome, so I can file my taxes now? TAX MAN: Nope, your wife’s W2 isn’t ready yet. ME: Cool. I'll see if she knows her ADP login. TAX MAN: Hey. Your 1098 is ready. ME: Great, that’s my mortgage interest right? TAX MAN: Yep. But your loan got sold last year haha. So you’ll get two 1098s, one from each bank. ME: Yea I remember getting a letter about that at some point…that's like the 3rd time our mortgage has been sold. TAX MAN: Btw only 1 of your 1098s is ready. The other isn't. ME: Cool, so I still can't really file yet. TAX MAN: Yep. But your brokerage account 1099s will come out in mid-Feb. TAX MAN: Go look for a Consolidated 1099, or separate 1099-INT, 1099-DIV, 1099-B, 1099-R. ME: I thought 1099s were for people who were contract-based employees or gig workers? TAX MAN: Nah, 1099s are for so many things man. TAX MAN: Did you sell RSUs last year? If so, you'll get a 1099-B that shows $0 basis, so you'll want to go get a Supplemental Information document from your broker. ME: Cool, thanks for the heads up. Someone will tell me that explicitly, right? TAX MAN: Not at all. ME: Cool. What’s the difference between 1099-MISC and 1099-NEC? TAX MAN: 1099-NEC (Non-Employee Compensation) reports payments to contractors. 1099-MISC (Miscellaneous) reports other types of payments like rent, royalties, and prizes, etc. TAX MAN: They changed it a few years ago but didn't really tell anyone. ME: Why are you the way you are? TAX MAN: Nobody knows. ME: Looks like I got a 1099-K this year? TAX MAN: Did you sell something online? ME: I sold a couch on Facebook Marketplace TAX MAN: For how much? ME: $600... TAX MAN: Congratulations, you’re a business now. ME: Okay I have all my 1099s, I’m ready to file. TAX MAN: Did you check for corrected forms? ME: What? TAX MAN: Sometimes they prepare a corrected one to recharacterize income or fix mistakes. TAX MAN: They come like a few weeks later. ME: So should I wait? TAX MAN: Up to you man. TAX MAN: File now and maybe amend later? TAX MAN: Or wait, and maybe it never comes. ME: Cool. ME: Oh btw, I invested in a private company last year. TAX MAN: Ah, you’ll be getting a K-1 now LOL. ME: Great, when? TAX MAN: LOL. ME: Taxes are due in a couple months... TAX MAN: Right. ME: But the form comes in October? TAX MAN: Sometimes September if you’re lucky! ME: So what do I do? TAX MAN: File an extension and make a payment. ME: I filed an extension, but I think we owe money. TAX MAN: Yeah you'll need to pay that by 4/15. ME: But I don’t know how much I owe? ME: Because I don’t have all my forms... TAX MAN: You estimate. 100% of last year's tax or 90% of this year's tax....or else you get slapped with thousands in underpayment penalties/interest. ME: What if I make over $150,000? TAX MAN: Then you have to pay in 110% of last year's tax....or 90% of this year's tax. ME: What if I estimate wrong? TAX MAN: Penalty. ME: What if I overpay? TAX MAN: They’ll refund it eventually. ME: With interest? TAX MAN: LOL no. ME: I did everything right. ME: I have all my forms ME: I filed on time ME: I’m getting a refund TAX MAN: Congratulations ME: When will I get it? TAX MAN: The IRS says 21 days TAX MAN: It’s been 12 weeks TAX MAN: Your return is “still being processed”. ME: Can I call someone? TAX MAN: You can try. TAX MAN: They’re experiencing higher than normal call volume. ME: For how long? TAX MAN: Since 2019. ME: What if I just don’t file? TAX MAN: Prison. ME: What if I file wrong? TAX MAN: Also prison, but less likely. ME: What if my accountant files wrong? TAX MAN: Still your fault. ME: Can I just move somewhere with no income tax? TAX MAN: You can try! ME: What if I leave the country? TAX MAN: You still have to file. TAX MAN: For ten years after you renounce citizenship. ME: This is tyranny. TAX MAN: That's funny because that's actually how this whole thing started.

@stoolpresidente Hope you tried that Crab Rangoon Pizza. Thing is 🔥

@TKopelman Well you may be adding The Wealth Ladder to that list… great new read by @dollarsanddata

@markcecchini Congrats on 12yrs! Will be looking forward to your reflection on the next 12.

1/ 🚨Breaking News🚨 The One Big Beautiful Bill (OBBB) Act has just been passed by the House, and is now on its way to the President's desk, where it will be signed into law. With that in mind, it's time to break it down... To read it for yourself: congress.gov/bill/119th-con…

@putt4dough24 Seems like a clear ace to me…

@markcecchini 🫡

1/ 🚨NEW Breaking Tax News🚨 After releasing 29 pages of prop legislation Friday, the House Ways and Means Committee just dropped another 350+ pages of prop legislation. Today's text is a LOT more intriguing than Friday's release. Follow along as I break it down, live...

@LouStagner Really interested in @ClubProGuy perspective in this debate….

The current market pullback has been more traumatic for some than it has been historically. While there are many reasons for this, from my perspective, 3 rise to the top: 1. It’s been a very long time since our last correction. Far longer than normal. It’s easy to forget that volatility is not the exception. It’s the norm. A correction is a drop of 10% or more, and an average correction is 14%. These happen every 10-15 months. We haven’t had a correction since October, 2022. Memories are short, especially with investing. 2. While the percentage drop of a correction isn’t historically big, the ‘points’ the market drops is now very big given where the DOW sits. A normal correction would be a 6,500 point drop. Sounds super scary. Just a few years ago a similar percentage drop in the DOW would be a 3,500 point drop. Focus on percentages, not numbers. 3. The rhetoric and policies coming out of the Trump administration - whether one agrees with them or not - has many people more on edge. There’s a lot more sensitivity around political influence on markets. There are few things people are more sensitive to than politics and money. Mix them together and you get an emotional firestorm for some.

@TKopelman Love Hanalei! Strong Recco for the Happy Hour and Pizza at Tahiti Nui (Tiki Man). Dinner at Postcards. BFast at the Bread Company. Then just chill on that magnificent beach!!

@TheBadgerNation I have felt all year that this team will only go as far as Klesmit and Crowl will take them. Need to see more consistency.

@putt4dough24 @Sand_Valley I would definitely say the most “fun” day in golf at @Sand_Valley is Mammoth in the morning with Sand Box in the afternoon…

@SMB_Attorney Take two weeks off… then quit

@marshal @joshuatheard “Feature, not a bug”

@Top100Rick We did a trip to Pinehurst in September and played 2, 4, 10. I thought 10 was a great track for being so new. Definitely understand how that is above #4 which I thought was the average one of the 3.

@MichaelKitces The Retirement and IRA Show for deep dives (into the weeds) on all things Retirement and especially Social Security topics. podcasts.apple.com/us/podcast/the…