🚨Government is still shutdown.

They finally meant it.
Washington stopped pretending to work, and just stopped.

It’s been a week since the government decided to put the "Out-of-Office" sign up.

But don’t get too excited. The circus may be closed, but the 🤡 clowns are still getting paid.

Here’s your GOV Shutdown Roll Call:

🧾 IRS – Half the staff furloughed.
↳ Refunds? Delayed.
↳ Customer service? As dead as Caesar.
↳ Don't LIE! Some of you threw a party when you read about this one 🥳

💰 Small Business Administration (SBA) –
↳ No new loans for you!
↳ Bootstrap season is back in fashion.

🏛️ Museums –
↳ Closed.
↳ History is taking a sabbatical.

🏞️ National Parks –
↳ Visitor centers shuttered.
↳ Trails open, bathrooms not.
↳ Nature: now with extra trash.

🌎 EPA –
↳ Regulation paused.
↳ Polluters, start your engines.

🎓 Department of Education –
↳ Still fighting over who gets to teach what.
↳ Time to re-think homeschooling

💼 USPTO (Patents & Trademarks) –
↳ New ideas? Public domain, baby.
↳ Your million-dollar invention? Now worth $0.00.

Romeo, how long will this go on?

I don't know. Tax season's over in 3 days, ask me again after my vacation.

🟠Crypto didn't crash, it cratered

Well, sort of (in one place, in-particular.)

If you owned BTC, you were fine. It had what most consider a market correction.

But Altcoins got wrecked. And they all got wrecked in the same spot, Binance

Over at Binance, the gods of decentralization learned a very centralized lesson: don’t announce your weakness before you’ve patched it. ​
​
Apparently, some bright minds found a design flaw in Binance’s margin system and rather than quietly exploit it like civilized degenerates, they nuked it in broad daylight.

Here's how it unraveled:

🧩 The Setup
↳ Binance lets you use random tokens as margin collateral.
↳ But prices were based on Binance’s own internal markets, not external ones.
↳ That’s like valuing your 401(k) based on vibes and hope.

⚡ The Domino
↳ Prices dropped → collateral dropped → margin get called.
↳ Margins called → forced selling → more price drops.
↳ Add a sprinkle of leverage and boom:💥 liquidations galore.

🎯 The Blunder
↳ Binance announced they found the flaw and were working fixing it.​
↳ Translation: “Hey hackers, the vault’s open! Come on in, the waters fine!"​
↳ Exploiters rushed in and drained $500M to $1B before the door slammed shut.

Moral of the story?

Even in crypto, pride goeth before the margin call.

💸 Judgement day, in t-minus 3 days...

• For those who extended, you got 3 more days.
• Admit it, if you ain't filed by now, you just gave up.
• Personal & C Corp tax returns, due Oct 15th

💸 All payments & refunds use Direct Deposit

You may not pay the IRS or receive refunds from them by check anymore.

So, if you haven't already, set up an IRS.gov account.

🏠 Housing Corner

Interest rates are at the new normal, for now.

Expecting more dropped before the end of the year.

Here's a quick list of this week housing stats:
​
🏠 Mortgage rates: 6.38% (up a few bps)
📈 Inventory: 862,883 homes (up 1,400)
📉 Price reductions? Up 41.4% (same-ish)
💰 Median list price? $444,900 (same-ish)
🕰️ Days on market? 112 (+1)

Market Highlights

Market got wrecked ~ S&P 500 $6,552 (-2.98%) ~ NASDAQ $22,204 (-3.36%) ~ BTC $115,498 (-7.09%) ​

Gold still chillin! ~ GOLD 4,062 (+1.73%)

What's been going on with your Favorite CPA

​

I went on a podcast a few weeks ago, and it's going to drop next week.

I'll let you guys know as soon as it drops!

Until next week, ❤️

Romeo Razi, CPA ​Taxedright.com​

​

600 1st Ave, Ste 330 PMB 92768, Seattle, WA 98104-2246
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