Thanks for posting russ and clearing up

Quaternion also coming up to sign papers tonight
Ezmogee and Noname will have to be at a later date
And the three shares under 5K payout im guessing stay the same?
Thinky pm me your name for online transfer

George paid cash - waiting on papers to pay rest
thinky has been paid on ftp - under 5k
quaternion paid on FTP - waiting on papers for rest
Klink paid in cash -waiting on papers for rest
ezmogee wants cash but isnt around
noname bank transfer once i get home - up to him whether he wants to fill out forms with me or just take the taxed amount
birgit paid on ftp - under 5k

shipped back

Hey Peter, I appreciate the prompt payment but I would like to get my full share for reasons stated in this thread. I can fill out the required forms and fax/scan them to you. I just sent you a PM. We can take this offline instead of cluttering this thread. Thanks.

Might be a good idea to sticky a Tax Info thread with some of the informative information on here for future people asking for a stake or looking to back people.

No problem man, once the forms reach me the rest will come as said in PM. Anyone know the laws on under 5K piece? Does he even have to claim it? And if he doesnt I still have to id imagine, as its part of the whole?

Peter,

I really wanted to resolve this issue offline but you seem to not understand that I have to report all my stakes/shares as part of my tax filing. I keep good records. You claim that under 5k does not have to be reported but I am pretty sure this is not true. You can verify that with your tax consultant.

I would like the full share amount and I do not see why you would have problems with me filling out the required forms and sending them over to you. This is obviously a mess but we could make it easier for everyone if we do what is RIGHT!

Thanks

meh, with all due respect, this is not what you mentioned in the PM. I double checked to make sure!!! You just claimed that 5k does not have to be reported and that you will ask around!!

I think Peter is ok on this one. I think he is fine in making sure the forms are sent and squared away before sending the remainder of the $.

It is absolutely OK if thats what he said. But nowhere in the PM does he address this. I could post the PM if required but I am guessing a mod's permission or something would be needed.

I am not sure if you are saying that under 5k does not have to be reported.

The law is the same no matter the size of the piece.

Situations where its hard to tell if the person is an idiot or a scumbag are always very tough to make right. I'm glad this worked out and he finally came around. I thought about posting basically what CTS said but I don't think its right to intervene in other people's business.

Not everyone does this everyday, its confusing, and its not as simple as some make it out to be. All someone has to do is put the wrong social on any of these forms and im left holding the bag on the money owed. As I said in the beggining I wanted to make sure this was how this was supposed to work. Still on the edge and really dont understand it nor does my mom, but my uncle says the forms are correct Granted they get turned in and have right social on them (not insinuating anything, simply stating the truth) Cause if they dont im stuck holding the bag and on the hook. There are alot of concerns to digest in like 8 hours from having this sprung on you at the cage

Kudos to walkmyline for apparently making things right. That doesn't excuse the fact that he drastically mishandled the situation and put undue stress on his backers.

Yep, this is one of the reasons why I will not sell action to people I don't trust.

hey peter, I dont know how we can actually meet up, but is there some way that I could mail you the forms? (obv before you send me the money..)

Personally, as someone who had financial interest in this whole thing, I think that some of the posters were being harsh, to say the least.

I basically feel along the lines of ezmogee's posts and I want to thank you peter for not getting mad and just doing the correct thing.

Just got the rest of my money from Peter and the appropriate tax forms. Can say 100% truthfully that he had good intentions the whole time and genuinely wasn't looking to screw anyone over. Obviously it could have been handled better at the start but everything worked out in the end.

does anyone know if futur stakers are entitled to a vig if he refuses to play the next events he already received the money for ?

I'd obviously understand if it was a health/family issue but I don't know what is the standard if the stakee made #4 in a event.

I dunno what you're entitled to but I'd be perfectly happy with getting my $ back.

shipped back on ftp

yup this.

Klink Jason paid in full cash information and forms in my possesion
George Paid in Full cash Information and forms in my possesion
Quaternion (chris) paid 70% FTP awaiting forms and info to release rest (coming by tonight, unless hes doing well in event hopefully)
Thinky paid 70% FTP untill forms and info are in my possesion

Noname5620 waiting on faxing of forms and his info so I can do bank wire
ezmogee see you in a few weeks with cash bud, and we can do paperwork when you get into vegas.

Thanks everyone for understading i need to figure this out before hand. Everyone was paid within 5 hours of cashing that is available at the time. And paid in full upon proper forms being filled out.

My concerns were simple and legit, all someoen has to do is not fill out any of the forms and im stuck holding the bag, even a simple wrong info on the form. Took my time, made some calls, figured it out with help from family cpa and some on here (thanks sub) and its all set now. Not everyone does this everyday and when you start signing forms it gets confusing to say the least.

CONGRATS TO US ALL ON MAKING SOME MONEY

glad this all worked out in the end and was eventually handled it the correct way.


nice score/congrats to all the backers

+1