Stars Regs Thread

[0evg0]

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it means you dont hafta cash out anything which means no taxesssss.

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I do not know where you heard this but it is wrong. You have to pay taxes based on your gambling winnings, not how much you withdraw.

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he's saying unless you get audited, there's no way the gov't will know it's the same thing

[blah-blah-blah]

how does everyone here handle taxes anyway? I only started playing regularly/seriously in august so i have no idea what I'm supposed to be doing about whether to report my winnings or not. tried searching but couldn't find anything. a link if anybody has one would be great.

[hotbacon]

search in legislation.
there was a great guide layed out in legislation where you can export all your PT sessions into excel and then calc your totals won and lost, which is what i did last year...
this is what you're technically supposed to do from a tax law etc. standpoint.

you could also just find out the amount you withdrew this year and make up numbers from there, and you probably wouldn't get caught but I'd rather play it safe when dealing w/ IRS

[LearnedfromTV]

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how does everyone here handle taxes anyway? I only started playing regularly/seriously in august so i have no idea what I'm supposed to be doing about whether to report my winnings or not. tried searching but couldn't find anything. a link if anybody has one would be great.

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Talk to a good accountant with experience with gambling. The end.

Way more than half of what you read on 2p2 re taxes is crap or misleading, and even though I think I have a better handle on it than most, I'm not going to add to the noise.

[LearnedfromTV]

also, in the spirit of the thread, for whatever it's worth -

i've played like 50k hands of 1/2 last two months. I don't avoid anyone, b/c I'm dumb like that, but zekgb, dw2006, adamw005, and bmxreed are the names that I've played some with and think are decent.

Haven't played with evg enough to be sure but I think he belongs in that group.

oh, luckybacon too, though I haven't seen him much this month.

In general, I think tough 200nl reg is an oxymoron. I realize that every level is another step up, but still. Thing is, there's no one at 200, even the good players, who really take over a table and make life difficult.

[RUDIKULOUS]

You can concierge at a minimum of $500 dollars, i got a $600 amazon giftcard last week to spend on a new baller monitor [img]/images/graemlins/smile.gif[/img]

[holland3r]

So I cashed out everything but 4k then had back to back -7 BI days -- thanks Stars! So I'm going to be back at 100nl for awhile. . .

[RUDIKULOUS]

So I had a bad few days at 200 and decided some 100 would be good for the ego/mind. The games are omfg easy. It's really nice to be able to just autopilot and still crush.

[0evg0]

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also, in the spirit of the thread, for whatever it's worth -

i've played like 50k hands of 1/2 last two months. I don't avoid anyone, b/c I'm dumb like that, but zekgb, dw2006, adamw005, and bmxreed are the names that I've played some with and think are decent.

Haven't played with evg enough to be sure but I think he belongs in that group.

oh, luckybacon too, though I haven't seen him much this month.

In general, I think tough 200nl reg is an oxymoron. I realize that every level is another step up, but still. Thing is, there's no one at 200, even the good players, who really take over a table and make life difficult.

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we played a bit the other day and you played well. i dont really play 6max much anymore, but i was dabbling that night and it was just boring having to fold fold fold to you. i felt and probably looked like a stupid nit.

not going to say if i believe that is why you grouped me with some of those players.

edit: i've played tons with those previously mentioned players and all are good, winning players. some are better than others though, and i dont think i'd consider any of them the best players at 200, but then again i'm not familiar with who is still around there or how the games of some of those guys have changed in the last 2-3 months

[blah-blah-blah]

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search in legislation.
there was a great guide layed out in legislation where you can export all your PT sessions into excel and then calc your totals won and lost, which is what i did last year...
this is what you're technically supposed to do from a tax law etc. standpoint.

you could also just find out the amount you withdrew this year and make up numbers from there, and you probably wouldn't get caught but I'd rather play it safe when dealing w/ IRS

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ty hotbacon