105 replies to this topic

[cardcore]

GOOOOOD LUCK

[RDog]

king1305, on Monday, August 18th, 2008, 1:26 PM, said:

He doesn't need that though he has skype!

Yeah, but I am talking about social interaction with adults.

[mtdesmoines]

Acid_Knight, on Monday, August 18th, 2008, 11:48 AM, said:

I'm gonna be giving my 2 week's notice at my job on Wednesday

so much for coming to vegas, staying at your house, and "getting comfortable" while you're at work

[CBass1724]

mtdesmoines, on Monday, August 18th, 2008, 4:43 PM, said:

so much for coming to vegas, staying at your house, and "getting comfortable" while you're at work

Just go into his bathroom to rub one out instead of sitting on the couch.

[mase_gotsem]

Dude if most of your play is gonna be online dont pay taxes find some one in vegas that will swap online for cash for a small % or even free. only claim your live play winnings as income. imo good luck with it and have fun

[Balloon guy]

mase_gotsem, on Monday, August 18th, 2008, 1:53 PM, said:

Dude if most of your play is gonna be online dont pay taxes find some one in vegas that will swap online for cash for a small % or even free. only claim your live play winnings as income. imo good luck with it and have fun

Yea cause in a couple years they will have internet in prison so you can totally commit to like 18 hours a day and really bring up your win rate

[silkyjonson]

Hope you really do MM gl man!

[mase_gotsem]

Balloon guy, on Monday, August 18th, 2008, 3:59 PM, said:

Yea cause in a couple years they will have internet in prison so you can totally commit to like 18 hours a day and really bring up your win rate

heh i new i was gna start contraversy with that post lol but why pay taxes on something your goverment doesnt keep track of or legalize ?

[RDog]

mase_gotsem, on Monday, August 18th, 2008, 2:10 PM, said:

heh i new i was gna start contraversy with that post lol but why pay taxes on something your goverment doesnt keep track of or legalize ?

Cause its always the tax man that puts it in your ass. If there is one thing this country doesn't joke about it is getting its tax money.

[dt1313]

RDog, on Monday, August 18th, 2008, 5:19 PM, said:

Cause its always the tax man that puts it in your ass. If there is one thing this country doesn't joke about it is getting its tax money.

Si Senor. Ask Capone ?Acid, Good Luck. I'll be pulling for you. btw, Thanks for all the strat posts. Hopefully now you'll have even more time to post in there.Dan

[wwmoon85]

GL man, hope it works out for ya. I love poker but if I played it full time I probably would end up hating it. I tilt easy and have bad bankroll management.

[rcgs59]

gl , and if you need another job you can always teach us losers how to play lol

[Vtlaxer09]

mase_gotsem, on Monday, August 18th, 2008, 4:53 PM, said:

Dude if most of your play is gonna be online dont pay taxes find some one in vegas that will swap online for cash for a small % or even free. only claim your live play winnings as income. imo good luck with it and have fun

It'd be alot easier to do it the other way around imo. Just keep the cash in a deposit box in a casino etc.

[Gallo]

Good luck!!Oh and as others have said, keep receipts of everything. You'd be surprised at the stuff you can write off, I'm pretty sure others know more about this than I do.Like if you have dinner with Mark, WRITE-OFF.

[NoSup4U]

Acid_Knight, on Monday, August 18th, 2008, 12:50 PM, said:

And fwiw, I already know how badly I'm about to start running, so you can save your breath reminding me of that

QFT monkey brain.Important stuff: - Schedule a session anywhere you travel on vacation so you can write off your expenses. Save all your receipts including travel, car rental, hotel, food, etc which you incur because of your trip- I keep a spreadsheet for my live winnings where I basically declare enough of my live winnings to jive with my declared travel deductions, and give that plus my complete poker tracker summary sheet for the year to my accountant.- You'll need to find some decent health insurance. I think I used blue cross/blue shield before I moved under Shannon's recently.- Save receipts for all the improvements you do to your new house- You'll need to pay quarterly as everyone has already said. If you forget or don't, the penalties aren't horrible just fyi. Few hundo or something probably.- I know I've told you this before, but you REALLY need to sock away (and already should have) about 6 months of living expenses that are outside your working poker roll so when you have downswings (I know you don't have them but thats besides the point) you can play without any stress from having to make money to pay the bills.Kudos and congrats!Mark

[timwakefield]

Come to Florida.Or wait, no, I meant we're all coming to Vegas.

[MadKennedy420]

wwmoon85, on Monday, August 18th, 2008, 5:31 PM, said:

GL man, hope it works out for ya. I love poker but if I played it full time I probably would end up hating it. I tilt easy and have bad bankroll management.

great SIG!

[Acid_Knight]

Ok:1. I knew about quarterlies to avoid paying 5 figure tax bills2. I currently have 5 months of expenses in the bank and my poker roll could easily have the 6th month taken off without making me remotely concerned about having a proper bankroll 3. When I travel, if I'm writing things off, doesn't that kind of imply that I have a business set up or something like that?4. Thanks for all of the advice and well wishing (and PWYGB, etc)So, who can recommend a good accountant? Other suggestions?Edit: And I get paid Thursday, have $800 coming back from Escrow money and if my last day is the 29th, I'll have another 2 weeks pay, so 6 months in the bank - CHECK!

[Balloon guy]

NoSup4U, on Monday, August 18th, 2008, 3:57 PM, said:

QFT monkey brain.Important stuff: - Schedule a session anywhere you travel on vacation so you can write off your expenses. Save all your receipts including travel, car rental, hotel, food, etc which you incur because of your trip- I keep a spreadsheet for my live winnings where I basically declare enough of my live winnings to jive with my declared travel deductions, and give that plus my complete poker tracker summary sheet for the year to my accountant.- You'll need to find some decent health insurance. I think I used blue cross/blue shield before I moved under Shannon's recently.- Save receipts for all the improvements you do to your new house- You'll need to pay quarterly as everyone has already said. If you forget or don't, the penalties aren't horrible just fyi. Few hundo or something probably.- I know I've told you this before, but you REALLY need to sock away (and already should have) about 6 months of living expenses that are outside your working poker roll so when you have downswings (I know you don't have them but thats besides the point) you can play without any stress from having to make money to pay the bills.Kudos and congrats!Mark

If you're a single young man I would skip this, personally.If you're a father, or have so so health, then get a Health Savings Account.In a nutshell, you get a catastrophic care only type policy, with like a $5,000 deductible. So it's >$100 a monthThen you deposit the maximum each year into a seperate Health Savings Account, which is just a checking account with a bank that does this.Any and all medical expenses, from seeing the doctor, to buying asprin, you use the checking account to pay, and all the money you put in is tax free. Any money at the end of the year stays in there, and you max it out the next year. All this money is tax free and you can withdrawl any money in there when you retire without any tax implications. If you are going to have health care as a self employed person, this is the best way to do it by far.

[cardcore]

Acid_Knight, on Monday, August 18th, 2008, 3:15 PM, said:

So, who can recommend a good accountant? Other suggestions?

I use a guy on Long Island who is incredible. He's moderately priced and does an amaaaazing job.