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Poker Goals & Challenges Post your threads logging your travels up the poker ladder as you achieve your poker goals and dreams. "Challenges" does NOT mean prop bets, wagers, etc.

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Old Yesterday, 08:47 AM   #326
herbalerv
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Re: 1.c4: Chessman begins his poker journey

Yeah think I misread your opening paragraph , oops my mistake
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Old Yesterday, 09:05 AM   #327
Garick
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Re: 1.c4: Chessman begins his poker journey

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Originally Posted by Submerged View Post
now add on 6.7% for state income taxes (6.7% is low. I picked it to come to 40% total)
Um. No. 6.7% is not low for state income tax, especially as an effective rate not accounting for deductions/exemptions. 6.7% is higher than the top marginal tax rate for 37 states, and of those whose top tax rate is significantly higher (I used 8%+) only in Iowa does a 100K income put a single filer in the top tax bracket (8.53%). The rates you hear like 13.3% for California only kick in for income over a million dollars.

I mean, your basic point is sound, especially the self-employment tax part, but state income tax is super variable among live poker hubs, from zero (Florida and Nevada) to (at your 100K earnings estimate) 9.9% in California. This is part of the reason that many of us were trying to convince OP to stay in Texas, rather than moving to Cali.
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Old Yesterday, 09:21 AM   #328
Submerged
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Re: 1.c4: Chessman begins his poker journey

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Originally Posted by Garick View Post
Um. No. 6.7% is not low for state income tax, especially as an effective rate not accounting for deductions/exemptions.
Point taken. I didn’t do a lot of research. I saw Bart Hanson had a video that talks about why paying your taxes and investing is better, and now I see people (usually the people you know are broke and not practicing what they are saying) start to repeat it. There is a reason the majority of the live low stakes “poker pro’s” are not paying their taxes and living off the grid. And that reason is that it is very hard to grow your bankroll and stay in the game if you follow the rules.
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Old Yesterday, 11:12 AM   #329
SimpleRick
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Re: 1.c4: Chessman begins his poker journey

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Originally Posted by Submerged View Post
(usually the people you know are broke and not practicing what they are saying)
My eyes are bleeding.
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Old Yesterday, 11:57 AM   #330
Lurshy
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Re: 1.c4: Chessman begins his poker journey

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Originally Posted by AV0995 View Post
mixing 3b/calling KQ pre is std as std as it comes.
Versus an utg nit, not so much. Versus anyone else sure.
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Old Yesterday, 05:40 PM   #331
RoadtoPro
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Re: 1.c4: Chessman begins his poker journey

Thank you guys! I really appreciate the analysis. I don't know if this is the best place for a back and forth on strat so I'll leave the discussion up to you all for the most part. The feedback is great though, willing/want to improve from every hand.

Also, thank you for keeping the criticism constructive. It makes writing out the HHs more worthwhile.

RickRoll- No worries that you don't play often. You think about the game very well imo. I enjoy reading your thought process. tyty.

This thread will have a lot of life, random stuff mixed in it so might as well poast some poker hands as well. Just keep in mind that these are just a small fraction of the hands I'm playing. The interesting/stoopid/tricky spots are a small % of hands played, of course.
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Old Yesterday, 05:42 PM   #332
RoadtoPro
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Re: 1.c4: Chessman begins his poker journey

Thanks Garick. Remember, I moved to CA because A) I can live with my mom B) game selection at mid/high stakes among the best in the world. Even better than TX.

Submerged- welcome! You're also forgetting about a plethora of deductions etc.

For example, you can claim 50% of what you pay in SE tax as an income tax deduction.

OK, enough tax talk jeez.

Source: While I studied finance- I took several accounting classes, such as income tax accounting. I may become a CPA for fun one day.
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