Quote:
Originally Posted by George Lind III
Okay I can't help myself anymore, the fact that you're withholding 29% of the winnings for taxes is ridiculous. I received PM's from 2 of your other investors so far telling me that they're annoyed with the situation but, to quote one of them, "peter wrote me in his pm that he discussed the tax situation with you and you agreed on his handling regarding the tax situation". Well this is not true at all and you know it. I am very annoyed and do not agree at all with the way you're handling it and for you to tell someone that is just deceitful (assuming you did tell them that). You advertised a package at no markup but are effectively charging about 41% markup. Do you see that it's likely that most of your investors wouldn't have bought the package had they known this?
My choices now are either to illegally launder my share of the winnings that you gave me, or to claim it and effectively be taxed twice on it. I showed you the correct way to transfer the tax liability and you refuse to do it. Many others would tell you that I'm giving you correct advice if you would simply ask, but you refuse to do so.
But seriously though congrats on the score and I sincerely do thank you for prompt payment on the part that you gave me. I just hope you can see that you're putting your investors in a horrible position by handling things this way.
Completley understand george, and i think ive explained my point of view a ton. No one but me is on record anywhere for winning anything but me. I signed for alot of money and am looking out for myself. I didnt fill out forms to accept the pieces of the buy in, so not sure why that would cange on winnings. I also have a day job, im not a proffesional gambler and she/my mom/accountant, says this is the best way to go. I was under the assumption (ya I know assuming is stupid etc) that this was how it works.Thus not bringing it up in the sale. I spent an hour on the phone while filling out the paperwork with my mom (tax attorney) asking what I should do. They had me signing all sorts of stuff and I called her to make sure. What makes sense for you, isnt always what makes sense or makes me feel comfortable
Anyway it all comes down to what im comfortable with and advised to do. I do agree this all should of been noted in the beggining. And as i said I will be noting it in my other packages before the events start to allow investors to chose if they still want to invest. You gave me links to discussion of it on here. Whats on here isnt script. It comes down to what I feel comfortable with. And wiring the money directly home so I can, send a check to cover tax this week is what makes me feel comfortable knowing the liability is taken care of. I really wish someone told me this in the beggining not now. I would of asked my mom then and told everyone this is what i was comfortable with.
I dont feel at fault, I do though feel naive for not knowing this, and I do feel bad you are mad with me, as we talked about. I am in the end doing what makes me feel comfortable.
I offered to refund half the cost of the investment when you explained to me its almost like a 29% markup. To meet in the middle, to try and show you im sorry I guess in a way. I would extend this offer to anyone, and will note in my other packages what makes me feel comfortable by tommorrow, to all investors a chance to re think there investment
Brilliant way to end a fun run, sigh.
We all generally assumed i guess (this cant be all my fault) as no one even brought this up before and it was never stated (nor did i even think about it) Whatever i suck, but my mom being mad at me for not taking her advice, sits a little higher with me then others being mad at me i guess. I dont like being pressured into what im not familiar with or uncomfortable with though. Not much more i Can say
Last edited by walkmyline; 06-11-2010 at 01:41 PM.