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Forum: Sports Betting 11-12-2007, 11:53 AM
Replies: 200
Views: 2,210
Posted By broiler
Re: 2007-2008 CBB mechanical Home small faves System

Scoresandodds and covers have the opening lines listed for the games. I would be careful with scoresandodds, however, since I've noticed that the opening number occasionally changes to the number...
Forum: Sports Betting 11-08-2007, 04:55 PM
Replies: 27
Views: 314
Posted By broiler
Re: What about this sport...

I realize that it would be nearly impossible to detect an attempt to throw a match. The betting action would have to point directly at that situation and even then it might still be hard to tell. ...
Forum: Sports Betting 11-08-2007, 04:08 PM
Replies: 27
Views: 314
Posted By broiler
Re: What about this sport...

The current payout structure on the telecasts are 25k-13k-6k. I'm not sure if it would be possible to bet enough with the low bet maxes to make up for the possibility of the bowler winning more by...
Forum: Sports Betting 11-08-2007, 01:56 PM
Replies: 27
Views: 314
Posted By broiler
Re: What about this sport...

Pinny did offer lines on the PBA telecasts for 3 or 4 weeks before they shut down US wagers. The lines would go up on the day of the telecast and they would create a line for the final match during...
Forum: Poker Legislation 11-07-2007, 01:23 PM
Replies: 27
Views: 328
Posted By broiler
Re: Online Poker Article

There is no way that the PPA could be a 501(c)(3) with its activities. Lobbying efforts alone would pretty much finish that possibility. They are a 501(c)(4) membership organization.

I found...
Forum: Business, Finance, and Investing 10-31-2007, 09:09 AM
Replies: 2
Views: 56
Posted By broiler
Re: study tips the final cpa exam?

It really depends on what section he has left to pass. A good trick is to see if he knows anyone that has taken that section in this testing window. Our staff in the office have found a frequent...
Forum: Poker Legislation 09-18-2007, 10:48 PM
Replies: 33
Views: 152
Posted By broiler
Re: FPP porsche- taxable?

The article does not say that frequent flyer miles are not taxable. The paragraph merely says that the IRS will not assert that a taxpayer has understated their personal taxes for the personal use...
Forum: Poker Legislation 09-18-2007, 10:21 PM
Replies: 33
Views: 152
Posted By broiler
Re: FPP porsche- taxable?

The credit card argument is comparing apples and oranges. In order to have a valid argument, you need to have an expense that was deductible for tax purposes that is not taxable when you receive a...
Forum: Poker Legislation 08-19-2007, 11:48 AM
Replies: 31
Views: 395
Posted By broiler
Re: Filing as a \"pro\" - minimum number of hours required?

I agree completely with your point about the desires of the OP as to how he and his tax advisor should proceed. His line of questioning led me to believe that he wanted to file as a professional and...
Forum: Poker Legislation 08-18-2007, 08:47 AM
Replies: 31
Views: 395
Posted By broiler
Re: Filing as a \"pro\" - minimum number of hours required?

The best case for working and being a professional poker player at the same time would probably be Tschetschot (TC Memo 2007-38). Mrs. Tschetschot had a full-time job that paid $49k and played in...
Forum: Business, Finance, and Investing 08-18-2007, 08:32 AM
Replies: 5
Views: 56
Posted By broiler
Re: Public Accounting

thing pretty much nailed all of the big points on why people leave public accounting. The only point that I would add is that money outside of public accounting is very good and the opportunities...
Forum: Poker Legislation 08-17-2007, 07:09 PM
Replies: 31
Views: 395
Posted By broiler
Re: Filing as a \"pro\" - minimum number of hours required?

I don't know why you would want to beat a dead horse. Russ Fox and I already gave you a full list of reasons and explanation of how cash is pretty much the only basis of accounting for professional...
Forum: Poker Legislation 08-17-2007, 05:45 PM
Replies: 31
Views: 395
Posted By broiler
Re: Filing as a \"pro\" - minimum number of hours required?

There is no such thing as a 35 hour/ week test, however one of the criteria that is used in Groetzinger to determine a professional is the idea of operating full-time for the purpose of making a...
Forum: Poker Legislation 08-17-2007, 05:19 PM
Replies: 31
Views: 395
Posted By broiler
Re: Filing as a \"pro\" - minimum number of hours required?

You definitely cannot have a schedule C for a professional gambler with losses exceeding winnings. The case law is clear that the Section 165(d) limit on deducting gambling losses prevails over the...
Forum: Poker Legislation 08-05-2007, 05:17 PM
Replies: 14
Views: 70
Posted By broiler
Re: Taxes on Casino play

Bav,

There is an important point that you missed in your example. Gsmbling losses are not subject to the itemized deduction phaseout. Your example would yield zero tax liability, however most...
Forum: Business, Finance, and Investing 07-14-2007, 11:59 AM
Replies: 5
Views: 62
Posted By broiler
Re: Some CPA questions....

In my area, getting to senior manager is a very long process. Two of the big 4 offices here don't have any partners and are effectively run by the office in Pittsburgh. The lack of partner...
Forum: Business, Finance, and Investing 07-14-2007, 08:39 AM
Replies: 5
Views: 62
Posted By broiler
Re: Some CPA questions....

Most of your questions are highly dependent upon where you end up working and the regulations in that state. I will answer everything based on my experience as a mostly tax CPA in a dead/dying city...
Forum: Sporting Events 07-09-2007, 05:28 PM
Replies: 631
Views: 1,676
Posted By broiler
Re: ***Offical Summer Transfer Thread***

Adu played in a friendly match against Canada before the World Cup. I would call that a full international cap that locks him into the US squad. Apparently, he was trying to find some wiggle room...
Forum: Poker Legislation 07-03-2007, 06:29 PM
Replies: 47
Views: 274
Posted By broiler
Re: IRS training manual re : attorneys and deferring income

Poker CPA,

I am a "competent tax accountant" and I strongly disagree with your statement that the accrual basis is the only way to file for a professional gambler. Your argument fails for many...
Forum: Poker Legislation 06-30-2007, 06:30 PM
Replies: 6
Views: 69
Posted By broiler
Re: anyone have a tax accountant in uptate new york for poker pros?

Beware, Jason does not know what he is talking about. A professional still files as a sole proprietor (schedule C) for their tax return. There is no such court case that keeps a professional...
Forum: Poker Beats, Brags, and Variance 06-29-2007, 06:48 PM
Replies: 27
Views: 105
Posted By broiler
Re: +EV Lottery Ticket

The NY lotto that is at $65 million is not a raffle that is paid immediately.

From the NY lottery website:
The LOTTO Jackpot for June 30, 2007 will be $65,000,000.00, including the annuity...
Forum: Business, Finance, and Investing 06-23-2007, 08:14 AM
Replies: 14
Views: 91
Posted By broiler
Re: Becoming a CPA

The best answer that I can give you is that it depends upon the state as each state has different requirements. In NY, the work requirements are 2 years of work experience with at least 75% of that...
Forum: Poker Legislation 06-13-2007, 08:14 AM
Replies: 3
Views: 45
Posted By broiler
Re: A legal / tax issue

Income is supposed to be reported by the person who earned the money. The problem here is that the trail leads to an outside observer (IRS & State) seeing income to A, B & C.

I would assume that...
Forum: Other Other Topics 05-22-2007, 06:20 PM
Replies: 56
Views: 195
Posted By broiler
Re: Americas public schools

I can tell you about City Honors in Buffalo since I live in the area.

City Honors is a school in the city of Buffalo that takes only a certain percentage of kids from the city based upon an entry...
Forum: Internet Gambling 05-05-2007, 12:43 PM
Replies: 132
Views: 463
Posted By broiler
Re: Awful WSOP news from PokerStars

I think that you are misunderstanding my interpretation of driller's statement.

A person that gets into a tournament via satellite will have a larger taxable income for the entire tournament...
Showing results 1 to 25 of 312

 
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