Appreciate the update. Glad things are going well for you post-poker.

Good to hear things are going well for you!

Shipped one tonight! Reminds me of old times.

It's insane that I can barely 4 table now, when it was so simple when I played full time (used to do 8 with ease). Also, don't mind the fact that I entered this thing 5 times lol

Poker hobby in 2019 has been going decently. Apparently the secret to maximizing ROI is to *not* play professionally.

loooooool not bad at all imo

teach me imo

Going to be playing basically all WSOP.com bracelet events in the next 1-2 months (and the other stuff, but definitely the bracelet events). Considering selling action for the $3200 since my net worth is under $640k (I'm boring and don't typically take shots above my BRM rules). Lmk if any interest

I’d prob take a small piece

Cool, it's a ways off and there's a small chance I just skip it regardless but I'll contact you later on if I decide to play it

I actually have a question for you MTT guys--when you're selling action, how do you factor in taxes?

Let's say I sell 30% of my action, and win a tournament for $100k. Do I send $30k to the investor, or do I do a tax calculation first? If it's the former (which I'm guessing it is), how do I reconcile the fact that at the end of the year the IRS will see me winning $100k, when in reality I only won $70k?

I forget the name of the form but there's an IRS form you'd need to have the investor sign before you pay them that transfers their share of the tax liability to them.

My net worth is also under $640k.

Very helpful, thank you. This would only be relevant in the event of cashing, yes? (the filling out of the form, that is)

You can use form 1099. What you do is basically show a transfer of profits to the person. It’s used for sub contracting and things like this. So then that amount would be deducted from your gross income. And the amount would be income for the person who invested. It’s a separate form you send for each “investor” at the end of the year.

So you sell action and win.
Ask investor for social security number, or they can create a tax ID number TIN, if they don’t want to give up their social. Once you gave their info then u can release their winnings. At end of year (because maybe they buy more action and lose some back with you) you net their winnings and that’s all.

Thank you very much, xmarxthespot22. That was a very helpful reply.

4th in a $1k tonight

Does anyone have any idea why I can't post a new thread in the "Selling Shares - Online" subsection of the forum? When I try to do so it just gives me a sort of error message--tried PMing Bobo/posting in the small questions thread there, but to no avail.

Trying to make the thread for the $3200

Are you marketplace approved?

Yeah I figured this whole thing out, I missed a...very prominent stickies thread haha. I applied just now.

3rd in a $500 6max tonight. I'm vaguely considering starting a new PG&C, but I just don't think I have enough interesting things to say, and it would likely just become a repository for posts like this. I don't really tilt anymore either so there wouldn't even be that entertainment factor like there was here.

Hey man! Don't know if you remember me.

Funny I got the itch to dink around in the micros yesterday because I was bored and ended up coming here to read some threads, and saw yours. Me and Adam (bm303) still talk all the time and we'd frequently mention you and wonder how you were doing.

Glad you're doing well! And sick binks/finishes!

I'm also doing well putting my efforts toward something not so mentally agonizing

NJ sites pretty soft?

Hey J, yes of course I do. The 2015 Skype group--good times. What are you two up to these days?

It's funny, because I don't know what I am now--I left my tutoring gig because A) I was getting *very* bored with it (it's super repetitive after a while, and I secretly was beginning to lose patience with teenagers who couldn't grasp high school mathematics--I'm a terrible person, I know...)--and B) I was making more money from poker/enjoyed it more. But I don't have any intention of playing full time forever, I just get too bored with things when I do them too much. But for now, I'm in limbo, and since I figure to be decently +EV in MTTs, I figure I may as well play them. I could play cash again too, but I just don't care enough to be honest, even if there's money to be made--cash bores me unless it's heads up. So yeah I don't know if I'm exactly "bitten by the poker bug" currently.

(On that note, if any of you guys in the NYC area work for a firm that's seeking someone...I'm quite good at analytical work and learn extremely quickly)

My main leak before was my mental game, but I've experienced some life events in recent years that make poker variance seem meaningless by comparison, so my mental game is stronger than ever. Gameplay wise, I've gotten (I think) a lot better as well, mainly due to the advent of PIO solver.

I spend a lot of time reading and playing piano these days as well (have played since I was 4). I mess around with investing a bit as well, but I don't know how +$EV I am in that format of poker, so I'm always a bit gun-shy with it. It's worked out well so far, but that could easily be due to positive variance.

Ridiculously tough. I don't think LLinusLLove could beat these games.

3rd in a $1k tonight, good past few days


Edit--as a side thought, if you want to see just how wild variance can be, look at the difference between my WSOP sharkscope and my Stars sharkscope. I assure you I play exactly the same game on both networks.

Crazy results lately, nice work.

1st in a small one tonight. I'm not normally fond of Hypers but I'm currently getting effective rakeback of 40% or so with APPs + deposit match


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