Did LMG ever get a sponsorship offer from TurboTax? I've been very disappointed to see Mr. Beast working with them...

[swimtome]

(The point of this discussion is not I CANT STAND MR BEAST / I DONT GET HOW PEOPLE WATCH HIM)

 

I personally enjoy his content, yes its clickbaity etc but as Linus has said on WAN show its amazing watching his growth.

However his recent sponsorship with TurboTax just flat out tells me that he is, at best, not looking too deeply into the companies he works with - and that's really disappointing.

Seeing how much TurboTax is throwing money around lately, I was wondering if LMG ever got an offer from them. 

It could be @CPotter can't really confirm nor deny, it could be they wouldn't work with a Canadian company anyway but hey we're in General Discussion.

 

So anyone have any thoughts?  Disappointed in Mr. Beast? Don't care cause he does more good then evil?

 

 

**For those unfamiliar with TurboTax:

Quick version:

TurboTax is tax software for the US.  While most countries have "Return-free filing" i.e. the government just does the math for you, companies like Intuit ( the parent company) and H&R Block have spent millions lobbying to keep taxes complicated so you are forced to keep using their software.

 

They have wasted who knows how much time and money out of American society and are definitely one of the companies that I actually wish would just disappear overnight.

 

4 minute version:

 

Other notes about TurboTax:

• For the longest time they were the only option to submit your taxes electronically - and still are for a majority of states.
• Free options have issues: They don't cover most special options, they might be available only for low income, they try to trick you into paying for a more premium option.
• TurboTax advertises that 'they've helped customer save $x' -- thats like saying LMG helped customers waste x minutes online. (OK I need a better comparison). Your job is to help people fill out their taxes, they're eligible for the same refunds. So either you're doing your job, or your not.  You're not magically finding loopholes that get out of taxes.
• The advertising everywhere leads many Americans to think that their only option is still TurboTax while the reality is that they can seek out a free option that might work for them, or to hire a local CPA.
• Oh also their representatives are NOT CPAs and their are countless stories of people getting screwed by their 'accountants'.

 

 

Sources:

https://old.reddit.com/r/LifeProTips/comments/ttq091/lpt_do_not_use_turbotax_to_do_your_taxes_the/

https://www.propublica.org/article/inside-turbotax-20-year-fight-to-stop-americans-from-filing-their-taxes-for-free

https://www.opensecrets.org/news/2023/02/turbotax-parent-company-intuit-is-pouring-more-money-than-ever-into-lobbying-amid-push-for-free-government-run-tax-filing/

https://www.nbcnews.com/business/taxes/turbotax-h-r-block-spend-millions-lobbying-us-keep-doing-n736386

https://www.theverge.com/2022/4/18/23027618/senator-warren-taxes-turbotax-intuit-lobbying-free-file

 

 

[Blqckqut]

7 minutes ago, swimtome said:

 

 

So anyone have any thoughts?  Disappointed in Mr. Beast? Don't care cause he does more good then evil?

 

honestly i dont really care

if u dont like him, then just dont install his apps and dont watch his videos

 

dont get involved in something that u dont care about

[tkitch]

18 minutes ago, Blqckqut said:

honestly i dont really care

if u dont like him, then just dont install his apps and dont watch his videos

 

dont get involved in something that u dont care about

in his defense, Intuit (Turbotax) and other companies like it are the main reason that taxes are so painfully complicated.

 

A number of other countries have tax structures that don't require complicated software to file your taxes for the average person.  

 

These companies lobby for laws and changes to make sure it's harder for normal people to do their taxes so they make more money selling services.

[steelo]

Who's Mr. Breast? Sounds like my kinda guy.

[dizmo]

Eh, there's a place for them. A lot of people simply don't want to go through the hassle of filing taxes, and find an accounting firm too expensive; this gives them an option. You can also get your payment immediately, instead of having to wait for the government to send you the money, which can also be advantageous to some.

 

I've used H&R Block a few times; one time they looked back and realized I'd missed filing for a year, 6 years prior. They got me an extra $1,400. Something I'd have not realized, or gotten, if I hadn't.

 

Quote

TurboTax advertises that 'they've helped customer save $x' -- thats like saying LMG helped customers waste x minutes online. (OK I need a better comparison). Your job is to help people fill out their taxes, they're eligible for the same refunds. So either you're doing your job, or your not.  You're not magically finding loopholes that get out of taxes.

This statement makes little sense. A lot of people don't have the time or will to search out those loopholes, and having a service that does is incredibly valuable.

[ToboRobot]

1 minute ago, dizmo said:

Eh, there's a place for them. A lot of people simply don't want to go through the hassle of filing taxes, and find an accounting firm too expensive; this gives them an option. You can also get your payment immediately, instead of having to wait for the government to send you the money, which can also be advantageous to some.

 

I've used H&R Block a few times; one time they looked back and realized I'd missed filing for a year, 6 years prior. They got me an extra $1,400. Something I'd have not realized, or gotten, if I hadn't.

 

This statement makes little sense. A lot of people don't have the time or will to search out those loopholes, and having a service that does is incredibly valuable.

Just because doing your own taxes takes time and effort and accountants cost money, doesn't mean there isn't any other way to do your taxes without a giant company that lobbies the government to prevent the government from making it easier for people to do their own taxes like other countries do.

 

How do you justify this sort of business activity?
https://www.propublica.org/article/inside-turbotax-20-year-fight-to-stop-americans-from-filing-their-taxes-for-free

 

[dizmo]

1 minute ago, ToboRobot said:

Just because doing your own taxes takes time and effort and accountants cost money, doesn't mean there isn't any other way to do your taxes without a giant company that lobbies the government to prevent the government from making it easier for people to do their own taxes like other countries do.

 

How do you justify this sort of business activity?
https://www.propublica.org/article/inside-turbotax-20-year-fight-to-stop-americans-from-filing-their-taxes-for-free

 

Please. The government chooses to make it difficult. They don't have to bend to the lobbying, that's a choice made by them.

[ToboRobot]

1 minute ago, dizmo said:

Please. The government chooses to make it difficult. They don't have to bend to the lobbying, that's a choice made by them.

Because of efforts of lobbyists.  As detailed in this and other news articles if you do your own research and read the link before replying.

 

[SorryBella]

2 minutes ago, ToboRobot said:

How do you justify this sort of business activity?
https://www.propublica.org/article/inside-turbotax-20-year-fight-to-stop-americans-from-filing-their-taxes-for-free

I was about to post this. My issue with Intuit is simple: IRS knows what americans owe. Intuit fucking takes that away.

 

For comparison, Indonesia still has a manual filing system, but you can come to any General Tax Directorate office, call them, or go to their website and use their built in (albeit hellishly clunky) tools to calculate how much you owe. Hell, certain employers handle your income tax and sets aside your salary for it. Other countries have it even easier.

[swimtome]

21 minutes ago, dizmo said:

Eh, there's a place for them. A lot of people simply don't want to go through the hassle of filing taxes, and find an accounting firm too expensive; this gives them an option. You can also get your payment immediately, instead of having to wait for the government to send you the money, which can also be advantageous to some.

 

I've used H&R Block a few times; one time they looked back and realized I'd missed filing for a year, 6 years prior. They got me an extra $1,400. Something I'd have not realized, or gotten, if I hadn't.

 

This statement makes little sense. A lot of people don't have the time or will to search out those loopholes, and having a service that does is incredibly valuable.

 

There's plenty of smaller CPAs out there.  You don't need big accounting firms to get an accountant.

The immediate is drinking cool-aid: "Hey give me money, but I'll also give you some other money that's coming to you anyway".

It's nice that H&R checked, but would be the same if you used a CPA or just kept track yourself.

 

The loopholes are not magic.  For the average person, the money back is the same - the service is not 'discovering' anything that a CPA, or any other software, wouldn't discover.

If you are doing deductions you'd be better off with a CPA anyway.

 

[dizmo]

17 minutes ago, swimtome said:

There's plenty of smaller CPAs out there.  You don't need big accounting firms to get an accountant.

The immediate is drinking cool-aid: "Hey give me money, but I'll also give you some other money that's coming to you anyway".

It's nice that H&R checked, but would be the same if you used a CPA or just kept track yourself.

 

The loopholes are not magic.  For the average person, the money back is the same - the service is not 'discovering' anything that a CPA, or any other software, wouldn't discover.

If you are doing deductions you'd be better off with a CPA anyway.

 

It's still cheaper than going with a smaller firm, at least where I am. I checked.

While that's true, that's not always the situation. Paperwork gets lost, things get misplaced, things get forgotten.

 

Correct, but it's doing it faster, and with less work than is otherwise required.

[Uttamattamakin]

3 hours ago, swimtome said:

 

**For those unfamiliar with TurboTax:

Quick version:

TurboTax is tax software for the US.  While most countries have "Return-free filing" i.e. the government just does the math for you, companies like Intuit ( the parent company) and H&R Block have spent millions lobbying to keep taxes complicated so you are forced to keep using their software.

 

They have wasted who knows how much time and money out of American society and are definitely one of the companies that I actually wish would just disappear overnight.

 

 

To be fair it's not just the tax prep companies that want a complicated tax code.   Lots of big moneyed interest and political interest view the tax code as a way to reward friends, punish enemies, help groups that help them and hurt groups that don't. Every large interest here does this....sadly. 

It's like CGP Grey pointed out in a video. 

 Odds are a lot of those countries have a flat tax or a simpler tax code in general.  i.e. My home state has a flat tax of like 5% of your income above a certain cut off.   You do well up to a point and pay nothing on it.  Then over that you PAY.   The tax code in the US is so complicated that if you don't just have 1 W2 Job  and instead are self employed or get a 1099 instead it is necessary to use tax prep software or a company like H and R block.  

I don't think Linus would ever want to have any part of tax products especially* if they apply to a country he does not live in or do business in.  Like, why would US Americans take the advice of someone from a country with a totally different tax system about our tax system? 

*They have been sponsored by companies like Freshbooks and other business management and accounting software.  Things that are alternatives to Intuit Quickbooks or Quicken.

[tkitch]

1 hour ago, Uttamattamakin said:

To be fair it's not just the tax prep companies that want a complicated tax code.   Lots of big moneyed interest and political interest view the tax code as a way to reward friends, punish enemies, help groups that help them and hurt groups that don't. Every large interest here does this....sadly. 

It's like CGP Grey pointed out in a video. 

 Odds are a lot of those countries have a flat tax or a simpler tax code in general.  i.e. My home state has a flat tax of like 5% of your income above a certain cut off.   You do well up to a point and pay nothing on it.  Then over that you PAY.   The tax code in the US is so complicated that if you don't just have 1 W2 Job  and instead are self employed or get a 1099 instead it is necessary to use tax prep software or a company like H and R block.  

I don't think Linus would ever want to have any part of tax products especially* if they apply to a country he does not live in or do business in.  Like, why would US Americans take the advice of someone from a country with a totally different tax system about our tax system? 

*They have been sponsored by companies like Freshbooks and other business management and accounting software.  Things that are alternatives to Intuit Quickbooks or Quicken.

both turbotax and taxcut have canuckistanian versions.

 

They could easily advertise with LTT for both countries at once.  

[Heliian]

I doubt most of either followers even do taxes. 

 

In any case, in Canada there are free options for efiling your taxes right on the CRA website.  

 

Canada doesn't use paper forms anymore for the most part.

[Uttamattamakin]

10 minutes ago, Heliian said:

I doubt most of either followers even do taxes. 

 

In any case, in Canada there are free options for efiling your taxes right on the CRA website.  

 

Canada doesn't use paper forms anymore for the most part.

Not really.  LInus himself pointed out that quite a lot of IT related decision makers watch his channel.   It's easy to imagine.  He started doing this what mid 00's  early 10's .  Wikipedia says active since 2007.  People who have watched him since the 00's are now 16 years older.  A 16 year old who watched him day 1 would be 32 now.    He grew and grew up so did his viewers.  

 

5 hours ago, tkitch said:

...

I did not know this and it might work to an extent. Those in the US who view him trust him and LTT and would at least give it a look.  In the end though US Americans can be not the best about being advertised to about specific US centric things by a non US person.   IT could be like a Brit talking about the queen/king on Independence day. 

[Heliian]

11 hours ago, Uttamattamakin said:

pointed out that quite a lot of IT related decision makers watch his channel. 

Sure they do, doubt many care about turbotax.  

It's tax season, shillers gon shill. 

[Uttamattamakin]

2 hours ago, Heliian said:

Sure they do, doubt many care about turbotax.  

It's tax season, shillers gon shill. 

If they make good money they want to keep it. 

Speaking of which it is only a matter of time before someone uses GPT-4 to do their taxes or one of those tax products has it built in.  You fee it your w2's and 1099's and just does it all for you. 

[LogicalDrm]

*** Thread locked ***

 

Seems like this thread is mainly about how taxes are done in US, with companies and governments actions related. If you have complains about actual LMG sponsors, you can use this thread: