WSOP 2019 NVG Thread (** NO SPOILERS **) - Page 156 - Poker News

Let's say someone from England has a piece of me - they still get their % after I pay 37% taxes right?

If so it would seem pretty stupid for anyone from a no-tax country to get a piece of an American.

Conversely it would seem pretty smart for Americans to buy small pieces of English and Euros for reasons.

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07-16-2019 , 02:00 PM

#3877

suzzer99

Save the Cheerleader, Save the World

Join Date: Nov 2005 Posts: 99,984

Quote:

Originally Posted by yimyammer

guess the wife got the house and he got the gal

These things always crack me up. Here let me walk you around my large but otherwise cookie-cutter suburban home. Ooooh granite countertops. Is this the laundry room? Fascinating.

I did enjoy Shaniac's Manhattan apartment with a killer view of Central Park from the bathroom window.

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07-16-2019 , 02:07 PM

#3878

NickMPK

Carpal \'Tunnel

Join Date: Jan 2006 Posts: 11,567

Quote:

Originally Posted by suzzer99

In theory, everyone is responsible for paying taxes on their own share of the winnings. You should pay out pieces pre-tax and each beneficiary should file the appropriate tax forms to take responsibility for their piece.

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07-16-2019 , 02:07 PM

#3879

ligastar

ToP 100 pAsS cAtChErS

Join Date: Jun 2004 Posts: 30,915

Quote:

Originally Posted by suzzer99

I have no idea.

Don't believe it would make any difference for the American. He would have to pay taxes on whatever amount he "wins".

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07-16-2019 , 02:08 PM

#3880

that_pope

Carpal \'Tunnel

Join Date: Dec 2006 Posts: 33,226

Just wait for Russ Fox's post about WSOP taxes that will come out tomorrow. He has one every year.

http://www.taxabletalk.com/2017/07/2...calling-again/

http://www.taxabletalk.com/2018/07/1...ries-of-poker/

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07-16-2019 , 02:09 PM

#3881

that_pope

Carpal \'Tunnel

Join Date: Dec 2006 Posts: 33,226

Last edited by that_pope; 07-16-2019 at 02:10 PM. Reason: Double Post

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07-16-2019 , 02:24 PM

#3882

aisleorwindow

newbie

Join Date: Mar 2011 Posts: 41

Quote:

Originally Posted by PeteBlow

The players get x number of tickets for the rail. It's first come first served for the rest of the viewing area.
If you really want to watch, be there early.

Thanks, sounds like it may be more trouble than it's worth. Are there still good cash games going on this late in the WSOP?

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07-16-2019 , 02:36 PM

#3883

Fluffy68

banned

Join Date: Jul 2019 Posts: 157

Quote:

Originally Posted by suzzer99

You would still have to pay taxes to the IRS for the money you received from the Euro players you had a piece of.

Quote

07-16-2019 , 02:51 PM

#3884

trob888

Pooh-Bah

Join Date: May 2008 Posts: 5,403

Quote:

Originally Posted by suzzer99

Let's say someone from England has a piece of me - they still get their % after I pay 37% taxes right?

You only pay taxes on your income. Their share is not your income, so you don't pay taxes on it.

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07-16-2019 , 03:07 PM

#3885

King~of~Diamonds

Carpal \'Tunnel

Join Date: Jul 2012 Posts: 8,514

It’s a sure bet with Hossein Ensan

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07-16-2019 , 03:30 PM

#3886

suzzer99

Save the Cheerleader, Save the World

Join Date: Nov 2005 Posts: 99,984

Quote:

Originally Posted by NickMPK

Do they take the tax out at the window? For some reason I was under that impression.

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07-16-2019 , 03:39 PM

#3887

NickMPK

Carpal \'Tunnel

Join Date: Jan 2006 Posts: 11,567

Quote:

Originally Posted by suzzer99

Do they take the tax out at the window? For some reason I was under that impression.

If you are an American, they will give you a tax reporting form, but they won't take any taxes out at the window. How would they know how much to take out in any case?

Casinos -will- withhold money from players from certain foreign countries but not others, based on whether the US has a tax treaty with the country that covers this. It's very idiosyncratic.

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07-16-2019 , 03:40 PM

#3888

NickMPK

Carpal \'Tunnel

Join Date: Jan 2006 Posts: 11,567

Quote:

Originally Posted by suzzer99

Do they take the tax out at the window? For some reason I was under that impression.

If you are an American, they will give you a tax reporting form for any net winnings above a certain threshold (I want to say $5k), but they won't take any taxes out at the window. How would they know how much to take out in any case?

Casinos -will- withhold money from players from certain foreign countries but not others, based on whether the US has a tax treaty with the country that covers this. It's very idiosyncratic.

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07-16-2019 , 03:47 PM

#3889

michelle227

veteran

Join Date: Jul 2007 Posts: 2,177

Quote:

Originally Posted by Atinat

Yeah he's a whale. I don't know what he does professionally, but the first time I saw him was in a high roller. He didn't have any recorded cashes prior to 2013, when he was nearly 50 years old. I saw a final table profile where he said something like "I have to go to work after this is over."

You DO realize that some of us older people finally got the time to go play more frequently once we hit the twilight of our primary career, right? Homes and vehicles are paid for, those with kids have likely gotten the kid through school and now actually have time and funds to piss away on higher dollar hobbies. Some choose golf and some choose poker...some do both.

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07-16-2019 , 04:07 PM

#3890

ScotchOnDaRocks

Carpal \'Tunnel

Join Date: May 2015 Posts: 7,200

Watching the 10K 6 max with Tuchman and Hanks

Hanks is one funny dude

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07-16-2019 , 04:29 PM

#3891

King~of~Diamonds

Carpal \'Tunnel

Join Date: Jul 2012 Posts: 8,514

He’s great. When the cameras came onto him during the main, he mouthed “help me please”. Most people just sit there and try to appear unphased

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07-16-2019 , 04:43 PM

#3892

pokermon!

centurion

Join Date: Jun 2014 Posts: 119

Quote:

Originally Posted by NickMPK

Last time I cashed in an event, they had a recommended withholding % (i think 25-30%) that they could take from your cash and send to the IRS on your behalf.

You would receive a W-2G which would show how much you cashed for, how much the buy-in was and how much was withheld on your behalf. You use that to report your taxes.

You can decline to withhold any money at the cage.

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07-16-2019 , 04:45 PM

#3893

ScotchOnDaRocks

Carpal \'Tunnel

Join Date: May 2015 Posts: 7,200

Quote:

Originally Posted by King~of~Diamonds

He’s great. When the cameras came onto him during the main, he mouthed “help me please”. Most people just sit there and try to appear unphased

Tuchman was saying that one of the players Chen didn’t speak much English and the flop comes down and Hanks says,”Who needs to speak English when you can just flop trips”

I just love witty quick things that make me lol, I get his humor

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07-16-2019 , 05:38 PM

#3894

Nepeeme2008

veteran

Join Date: Mar 2017 Posts: 2,913

It was mentioned that Enson is supposed to some type of whale not too dissimilar from Gold.
He plays pretty solid from what I see. Nothing like Gold or Yang or whoever.
If he seems to just have recently appeared on the poker scene, I'm pretty sure he's been playing poker for a long time. Some people just grind small stakes private games anonymous in Germany and elsewhere for years.
Doesn't mean they're new to poker just because we never heard of them.
I know, I've been there, done that.

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07-16-2019 , 07:13 PM

#3895

badmoe92

journeyman

Join Date: May 2016 Posts: 243

Phil Hellmuth 3/11 in the 5k
would be sick if goes back to back
sadly there is no stream
the good old wsop.com streams i miss them

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07-16-2019 , 07:16 PM

#3896

patriots

adept

Join Date: Oct 2011 Posts: 1,141

anything cringier than these rails?

give them bats and chains,straight out of the warriors

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07-16-2019 , 07:17 PM

#3897

thecantonkid

grinder

Join Date: Oct 2010 Posts: 515

Quote:

Originally Posted by michelle227

Closer to a Jean Van de Velde...

You mean he´s going to have trouble at the river?

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07-16-2019 , 07:17 PM

#3898

MyDadIsTheBTK

banned

Join Date: Jan 2019 Posts: 8

The other big tax is medicare/medicaid tax as there's no cap on it. Add another 1.45% on top of the 37%

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07-16-2019 , 07:22 PM

#3899

POGcrazy94

Carpal \'Tunnel

Join Date: Jul 2017 Posts: 14,272

Hellmuth shoving with 53o in the BB after guy limped in SB with AA, he hit runner runner straight to knock him out lol.. can you imagine if it was other way around?

He said to the guy 'good trap, sorry about that' what a cheeky **** lol

https://www.pokernews.com/tours/wsop...ips.300447.htm

lol @ t wat being censored btw