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Old 10-22-2007, 12:23 PM
CincyLady CincyLady is offline
Senior Member
 
Join Date: Nov 2005
Posts: 792
Default Re: backers and taxes?

Recently, the way I did it when I backed someone, was that we agreed that I'd get 30 percent BEFORE taxes, if he cashed. The player would then be responsible for paying the taxes. This way it works out somewhere close to a 50/50 split, and it's not my hastle in regards to taxes, it would of been his.

In the end, my player finished 6 places from the money, so we never got to test this, but IMO, this is a good plan.
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