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Forum: Poker Legislation 02-13-2007, 12:05 AM
Replies: 14
Views: 83
Posted By ADS
Re: Shouldn\'t the RAKE be tax-deductable?!?!?

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Im not sure u guys now what u r talking about.No offence
My question is :
if the rake u pay is tax deductable, how do u etimize it in ur tax return?

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Forum: Poker Legislation 02-12-2007, 05:57 PM
Replies: 11
Views: 74
Posted By ADS
Re: Bonuses and Rakeback are discounts not income?

I will make it more clear. ASOLUTELY FALSE!

You are mixing things up. Your analogy is simply off. And not only that, I will go further to say that it would not be to your benefit if it was not...
Forum: Poker Legislation 02-10-2007, 07:53 PM
Replies: 21
Views: 120
Posted By ADS
Re: Q: Why does the definition of a \"session\" matter for tax purposes?

Thanks,

But can you expand a some on this? It still would affect your personal exemption levels, correct? Or are you saying it would not?

Would this be the only difference?

The reason I...
Forum: Poker Legislation 02-09-2007, 05:10 PM
Replies: 21
Views: 120
Posted By ADS
Re: Q: Why does the definition of a \"session\" matter for tax purposes?

Jively,

Good post. I am a CPA as well, but don't really deal with personal taxes that much....except my own.

Question for a quick analysis: Can you do the same analysis for someone who is:...
Forum: Poker Legislation 02-08-2007, 04:57 PM
Replies: 53
Views: 228
Posted By ADS
Re: NETeller rolls over, gives all your information to the IRS

Ok...so reporting and paying taxes on withdrawls from Neteller is a no-brainer...especially now.

But what about profits sitting in online poker rooms? Is this a no-brainer?

The latest...
Forum: Internet Gambling 01-31-2007, 08:50 PM
Replies: 16
Views: 83
Posted By ADS
Re: I think I\'m going to be sick.

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2. Can some stranger cash my check? I remember my friend's mom used to cash my smaller checks when I didn't have a bank account, no question asked.

this is what...
Forum: Poker Legislation 01-24-2007, 07:00 PM
Replies: 8
Views: 59
Posted By ADS
Re: Is UB about to jump ship? Disturbing wording

This is what I just got from UB:


Member,

At this point, we are offering Chexx. Chexx works the same way as an E*Check, and is a regular paper check that we send by mail to US customers...
Forum: Poker Legislation 12-28-2006, 08:51 PM
Replies: 68
Views: 247
Posted By ADS
Re: Pay on withdraws or earnings?

My post did not intimate (at least it was not meant to) that the question of the legality of the income had any bearing on the legal reportability of the income. Nor do I want to intimate that the...
Forum: Poker Legislation 12-28-2006, 07:46 PM
Replies: 68
Views: 247
Posted By ADS
Re: Pay on withdraws or earnings?

Just a quick note/question on this:

I am a CPA as well...do not really work on taxes though...except my own.

I want a refinement of the term "constructive receipt".

How can money which is...
Forum: Poker Legislation 12-13-2006, 04:26 PM
Replies: 28
Views: 129
Posted By ADS
Re: How to get gross winnings/gross loss number?

I am also a CPA, though not heavily involved in tax work.

A couple of points:

ONE)The REAL reason you do NOT want to file as a pro (unless you are truly a pro with it being your main income)...
Forum: Poker Legislation 12-06-2006, 03:04 PM
Replies: 29
Views: 468
Posted By ADS
Re: American company opens Online gaming site

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i agree with everything you've said so far until these parts.

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The rest of the world captured the U.S. online gambling market by opening illegal businesses

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Forum: Poker Legislation 11-19-2006, 12:21 AM
Replies: 316
Views: 2,189
Posted By ADS
Re: Mason\'s Statements

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This has long been my theory as well -- that a rabidly pro-Israel and anti-Arab stance in the US government is so important to Mason that he's willing to sacrifice his livelihood and...
Forum: Poker Legislation 11-15-2006, 09:15 PM
Replies: 13
Views: 85
Posted By ADS
Re: Mirage CEO comments

So at least we now definitely know what HIS position is.....not that there was ever any real question.
Forum: Poker Legislation 11-15-2006, 09:13 PM
Replies: 13
Views: 85
Posted By ADS
Mirage CEO comments

http://today.reuters.com/news/articleinv...6&type=qcna...
Forum: Poker Legislation 11-08-2006, 07:43 PM
Replies: 58
Views: 223
Posted By ADS
Re: Poker won Virginia.

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Why do you think the Dems are pro online gambling? Did you see who voted for the bill?

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That is the wrong question. The right question is WHY was this bill pushed down...
Forum: Poker Legislation 11-08-2006, 06:00 PM
Replies: 42
Views: 229
Posted By ADS
Re: Election Results impact on gambling ban?

Well...while not technically changing anything, the fact that there will not likely be much "pressure" from congress to make the regs stringent, to go along with Bernanke stance on additional banking...
Forum: Poker Legislation 11-01-2006, 07:41 PM
Replies: 760
Views: 5,450
Posted By ADS
Re: Official Poker Site/Network Tracking thread

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Scout just added a 7 Day Avg of the AVG (not peak) traffic. You can also see this graphed out at his effects link.

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Thanks,

I am trying to find the above, with no...
Forum: Poker Legislation 11-01-2006, 07:00 PM
Replies: 760
Views: 5,450
Posted By ADS
Re: Official Poker Site/Network Tracking thread

This is a great thread. And thank you Scout. Your site is on my favorites list now.

I do have a comment though, not sure if anyone touched on this before. As you all can see, the number of...
Forum: Poker Legislation 10-24-2006, 06:02 PM
Replies: 113
Views: 354
Posted By ADS
Re: President Obama, Poker Player??

This might have been mentioned before...did not read every post in the thread.

But...He has Oprah in his camp...that is half the battle.

/images/graemlins/smile.gif
Forum: Poker Legislation 10-23-2006, 04:08 PM
Replies: 85
Views: 314
Posted By ADS
Re: Counter Offensive, How we deter our politicians and keep our game

Very good post.

Although you are right in pointing out that a pinpoint approach is better for this "assault", I just thought I would post the senate seats that are in contention, at least to have...
Forum: Poker Legislation 10-17-2006, 03:40 PM
Replies: 14
Views: 105
Posted By ADS
Re: Rasmussen Reports poll on online gambling

"Overall, 40% believe online gambling should be illegal and 41% disagree."

"Forty-seven percent (47%) of Republicans say online gambling should be illegal and 33% say it should not. Democrats are...
Forum: Poker Legislation 10-16-2006, 05:38 PM
Replies: 23
Views: 130
Posted By ADS
Re: How long until we play on Bellagio.com?

Being a CPA, I understand that the online poker industry is not HIGH labor cost intensive, nor is it HIGH manufacturing cost intensive. Sure, they have other costs that are maybe higher than normal,...
Forum: Poker Legislation 10-16-2006, 05:03 PM
Replies: 23
Views: 130
Posted By ADS
Re: How long until we play on Bellagio.com?

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Draining dollars from the US economy? PokerRoom's that are owned abroad, taking rake $$$ off of US players IS draining money from the US economy. This is a game symantics, because we are...
Forum: Poker Legislation 10-16-2006, 04:35 PM
Replies: 23
Views: 130
Posted By ADS
Re: How long until we play on Bellagio.com?

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First off, the number being circulated is 12Billion. Second, that figure DOUBLED in the last 12 months. Third, the U.S. accounts for at least HALF of that figure. If the...
Forum: Poker Legislation 10-16-2006, 02:59 PM
Replies: 23
Views: 130
Posted By ADS
Re: How long until we play on Bellagio.com?

First off, the number being circulated is 12Billion. Second, that figure DOUBLED in the last 12 months. Third, the U.S. accounts for at least HALF of that figure. If the growth is going to...
Showing results 1 to 25 of 36

 
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