I came across something that I thought people in this forum would find interesting. Let me know what you think!
“I know it’s blue, but can it be green?” - all my clients, every time.
“Blue-green maybe? Can we work with that?”
Honestly, it depends on the situation.
I always tell my clients it’s blue. They keep arguing it’s yellow, so I tell them to hop on one foot and see it’s clearly blue!
Okay, but what you’re missing is it’s just not typical! Try it again!
Well, it might be blue now, but over the next five years, it’ll change shades from teal to forest green, mint, pear, and lime. You could also use red if you have a bottle of ketchup upside down in your fridge. Once you choose red though, no going back.
And of course, California doesn’t follow along, so it’ll still be blue on your CA returns.
But 6 months after the deadline, they’ll retroactively change it to match.
So, is being blue an exemption from yellow, or is that a separate rule?
Neither. It’s a deduction.
Ah, so we’re talking about direct taxes here. Do secondary colors cover indirect taxes then?
But this guy on TikTok said it could actually be purple.
Oh yeah, just form your LLC in Rhode Island and it’s all sorted.