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Old 07-23-2007, 10:10 PM
Paul B. Paul B. is offline
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Join Date: Mar 2005
Location: Thailand soon?
Posts: 5,160
Default Re: $3 Million Downsizing.............

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Guys,

FWIW, if Brian made 5M from poker last year, in California he'd owe something over 2M in taxes. Obviously a good accountant can help relieve some tax burden, but for people estimating his earnings from poker, how much he has made is far less than what his net worth is from poker. Having said that, if he has been investing wisely, his pre-tax amount could easily be far more than the amount he's made from poker alone.

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My guess is that he has won less than $10 million from poker, probably 8.

If he won 5 last year almost $500,000 would go to CA state taxes.

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So his downswing was about 1/3 - 1/2 of his total bankroll. Pretty rough. Good luck, Brian. Definitely rooting for you and I hope you make it out okay.
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