A popular Twitch streamer who purchased a petrol station has hit back at an accountant who tried to school her on tax deductions.
Amouranth has “destroyed” an accountant who called her petrol station purchase a “fantasy”.
The popular Twitch streamer, whose real name is Kaitlyn Siragusa, made headlines last week when revealed she had purchased a petrol station for US$4 million.
She explained part of the reason for the investment was to reduce her taxes.
“I invest $1,000,000 and borrow the rest ($3,000,000) easy so far right?” she wrote on Twitter.
“Now since we bought this gas station & in accordance with applicable laws (&/once structured correctly) I will take an accelerated depreciation charge of approximately $3m 3,000,000 * .37 (my marginal tax rate) = $1,110,000.
“So for 2021 I will owe $1,110,000 LESS in income tax.”
She later explained, “We will not own this gas station forever (though we could), we will likely sell and roll capital gains forward.”
A man named Chris, who claimed to be a certified practising accountant with a masters degree in tax, blasted her purchase saying it was “wrong on so many levels”, warning about limitations on tax deductions.
“First, any profit from the business is (conveniently) ignored,” he wrote in a missive.
“Second, the allowable deduction is limited to stuff bought that has a ‘useful life’ of 20 years or less.”
He then questioned how much was paid for the land and whether she bought the building.
“This is just fantasy. I wouldn’t sign that return with somebody else’s pen,” he concluded.
But his mansplaning didn’t go as planned. Amouranth hit back on Twitter writing, “Cold day in hell when an e-girl destroys a CPA with a masters degree in his chosen field.”
She posted a reply to Chris stating, “Wow you’re a bad CPA.
“Full expensing (100% bonus depreciation) is in effect through 2022, after which it begins to phase out (reaching 0% by 2027). Because the industry often relies on debt to finance investment, limits on net interest expense deductions might increase tax burdens for some taxpayers in the industry.”
A Twitch data breach in September revealed Amouranth is one of the highest paid streamers on the platform. She makes at least $133,000 every month from subscribers and donations.
But the bulk of her income is from OnlyFans where she earns about $1 million a month.
She also earns $18,000 a month from Patreon, $17,000 from Fansly $10,000-$25,000 on Instagram and $5,000 to $15,000 on Twitter.
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