Two Plus Two Newer Archives  

Go Back   Two Plus Two Newer Archives > General Poker Discussion > Poker Beats, Brags, and Variance

Reply
 
Thread Tools Display Modes
  #41  
Old 11-28-2007, 04:22 PM
ispiked ispiked is offline
Senior Member
 
Join Date: Dec 2006
Location: whizzing by
Posts: 437
Default Re: Ship the Cayman!

$69K?! Porsche's website says it starts at $49K MSRP, so does this mean you got $20K worth of options on it? Or is it a Cayman S?

Edit: Very solid brag, IMO, but I would've been able to live much more vicariously through you if you'd gotten a 911 instead of the Cayman. [img]/images/graemlins/wink.gif[/img]
Reply With Quote
  #42  
Old 11-28-2007, 04:29 PM
DopamineRelease DopamineRelease is offline
Senior Member
 
Join Date: Jan 2007
Location: Shippp
Posts: 2,472
Default Re: Ship the Cayman!

[ QUOTE ]
How much did you pay in rake approx.?

60k is not that much compared to the amount of rake you paid.

[/ QUOTE ]
Obviously but would you rather have nothing?
Reply With Quote
  #43  
Old 11-28-2007, 04:30 PM
rothko rothko is offline
Senior Member
 
Join Date: Jan 2006
Location: nowhere, really
Posts: 5,437
Default Re: Ship the Cayman!

ur a beast. ship it.
Reply With Quote
  #44  
Old 11-28-2007, 04:40 PM
jfish jfish is offline
Senior Member
 
Join Date: Jan 2006
Location: what else is on my mind grapes?
Posts: 8,150
Default Re: Ship the Cayman!

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I assume u have to pay income taxes on the cash value of the car.

[/ QUOTE ]

I was wondering about this too.

[/ QUOTE ]

Me too. Maybe it could be considered a gift? Right? Right???

[/ QUOTE ]

Gift from all the fishies ldo

[/ QUOTE ]

def
Reply With Quote
  #45  
Old 11-28-2007, 04:42 PM
TheMetetron TheMetetron is offline
Senior Member
 
Join Date: Oct 2004
Location: Blog Updated Dec 1st
Posts: 6,839
Default Re: Ship the Cayman!

[ QUOTE ]
[ QUOTE ]
I assume u have to pay income taxes on the cash value of the car.

[/ QUOTE ]

I was wondering about this too.

[/ QUOTE ]

Most definitely has to report the $60k stars gave him as income.
Reply With Quote
  #46  
Old 11-28-2007, 04:45 PM
bustowithnobra bustowithnobra is offline
Senior Member
 
Join Date: Dec 2006
Location: IMO
Posts: 406
Default Re: Ship the Cayman!

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I assume u have to pay income taxes on the cash value of the car.

[/ QUOTE ]

I was wondering about this too.

[/ QUOTE ]

Most definitely has to report the $60k stars gave him as income.

[/ QUOTE ]

Not true, its in consideration of the millions of dollars of rake hes paid... thought I'm not 100% sure, but its definately not a traditional free prize.
Reply With Quote
  #47  
Old 11-28-2007, 05:25 PM
fnord_too fnord_too is offline
Senior Member
 
Join Date: May 2004
Location: February made me shiver
Posts: 9,200
Default Re: Ship the Cayman!

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I assume u have to pay income taxes on the cash value of the car.

[/ QUOTE ]

I was wondering about this too.

[/ QUOTE ]

Most definitely has to report the $60k stars gave him as income.

[/ QUOTE ]

Not true, its in consideration of the millions of dollars of rake hes paid... thought I'm not 100% sure, but its definately not a traditional free prize.

[/ QUOTE ]

The sixty grand is most definitely reportable income in the US. Also, if someone just gives you 60K as a gift, you have to report that, too. (IANAL nor a CPA, but I believe the cap on untaxed gifts is 10K in the US.)

At any rate, I'm sure OP has an accountant who handles his taxes, so there is no need to speculate or take tax advice from BBV. (I am guessing people taking tax advice from BBV would result in some great BBV threads though.)
Reply With Quote
  #48  
Old 11-28-2007, 05:34 PM
Rainclouds Rainclouds is offline
Senior Member
 
Join Date: Feb 2007
Location: weeee graduated
Posts: 1,448
Default Re: Ship the Cayman!

Such a cool car. Congrats OP
Reply With Quote
  #49  
Old 11-28-2007, 06:29 PM
Slowroller13 Slowroller13 is offline
Member
 
Join Date: Apr 2006
Posts: 51
Default Re: Ship the Cayman!

I likey! Give me one in Artic Silver Metallic with the Carrera GT wheels tho. Congrats!
Reply With Quote
  #50  
Old 11-28-2007, 09:02 PM
bustowithnobra bustowithnobra is offline
Senior Member
 
Join Date: Dec 2006
Location: IMO
Posts: 406
Default Re: Ship the Cayman!

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I assume u have to pay income taxes on the cash value of the car.

[/ QUOTE ]

I was wondering about this too.

[/ QUOTE ]

Most definitely has to report the $60k stars gave him as income.

[/ QUOTE ]

Not true, its in consideration of the millions of dollars of rake hes paid... thought I'm not 100% sure, but its definately not a traditional free prize.

[/ QUOTE ]

The sixty grand is most definitely reportable income in the US. Also, if someone just gives you 60K as a gift, you have to report that, too. (IANAL nor a CPA, but I believe the cap on untaxed gifts is 10K in the US.)

At any rate, I'm sure OP has an accountant who handles his taxes, so there is no need to speculate or take tax advice from BBV. (I am guessing people taking tax advice from BBV would result in some great BBV threads though.)

[/ QUOTE ]

Yes I know you have to report gifts as income, but my point is this is not a gift, and is in exchange for mass amounts of rake. Thus therefore it is not something for nothing and could be viewed as a contract in quantum meruit, as in a contract by principal. I have my tax exam tuesday... lets hope thats right.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 07:23 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2021, vBulletin Solutions Inc.