I haven't read this yet, I was just talking about this with a friend who was saying some of these things, here's the link he just gave me.


http://www.mysanantonio.com/sports/O..._99993654.html

I guess there is no evidence of an 80% tax, but I assume it's totally possible to end up being close to that for casual players. I fixed my post.

http://forumserver.twoplustwo.com/69.../#post20916822

fwiw just through variance you are going to spew sometimes when you fight for a lot of pots

you are all *****

Most of Wizs spewy plays are very good if hes selecting the right villains, which since hes crushing i assume he is. Wiz out of interest whats your standard deviation?

In 1979 the tax on unearned income in the UK was 98%.

and?

186bb, dont know what this means

lol there wont be an 80% tax

Batman1421 I'd be interested in hearing what the SD means as well.

http://www.onlinepokerfaq.com/guide/us-taxes.html

http://www.pocketfives.com/articles/tax-qa-585513/


"The worst part about US tax law regarding gambling is that your gross gambling winnings count as gross income, while your gambling losses count as deductions, maybe. The IRS considers each gambling session separately when computing the numbers: all your winning sessions add up as gross income, and then your losing sessions add up as a potential deduction. This is true even if you are a net loser for the year. Also, the amount of losses you can deduct is limited by the amount of your wins, so if you have a losing year you can't claim a net loss. The only exception is if you file your taxes as a professional gambler (see below).


For example, let's say you play poker once in January and win $1,000. Then you play again in July and lose $1,500. The win counts as part of your gross income. It goes on the first page of your 1040, or “above the line”. If you want to itemize your deductions, you can claim $1,000 (not $1,500) on Schedule A. Then that flows onto the second page of your 1040, “below the line”.


There are several negatives here. If you weren't already itemizing deductions, by itemizing now you lose the standard deduction that you had before. In 2003 the standard deduction was $4,750 for single filers. If you have $5,000 in winning sessions and $5,000 in losing sessions, you will add $5,000 to your gross income, lose your standard deduction of $4,750 and add a new itemized deduction of $5,000. Although you broke even for the year, your income has increased by $5,000 and your deduction has increased by only $250. Dave Barry would say, “I am not making this up!”


It gets worse. Let's say you are a serious recreational player and play five 4-hour sessions every week, two $15-30 tables at a time. Depending on how you count your sessions, this could be either 5 or 10 sessions per week (the IRS is not clear on the definition of a session, since online poker didn't exist when they wrote up the regulations). Let's say this is 250 sessions per year. Suppose you win 130 of them with an average profit of $1,000 (that's $130,000 in winning sessions) and lose 120 of them with an average loss of $1,000 (that's $120,000 in losing sessions).


The good news is you have a $10,000 net win for the year. Congratulations. The bad news is, the $130,000 you must declare in gross income is going to cost you. First of all, while you can deduct the $120,000 losses, your other deductions will be limited. For example, medical deductions are allowed only so far as they exceed 7.5% of your income, so you have just lost 7.5% of $130,000 = $9,750 in medical deductions. Even deductions like mortgage interest phase out as your income gets higher. You might find you owe the dreaded AMT (alternative minimum tax). You may also lose eligibility to make deductible contributions to IRAs, or to contribute to a Roth IRA at all. All this for winning just $10,000 during the year."

So, in short, you can play where over a years time you take in 130K in prizes But spend 120K to get there
for a 10K profit but

Is flatting or 4betting better?
Villian is 20/14/1.5 3bet 5.9 over 288 hands

Grabbed by Holdem Manager
NL Holdem $0.50(BB) Replayer
SB ($49.50)
BB ($57)
UTG ($76.69)
UTG+1 ($50)
Hero ($80.94)
BTN ($60.37)

Dealt to Hero J J

fold, fold, Hero raises to $1.50, fold, fold, BB raises to $5.50, Hero

If only there was a legislation forum with a thread about taxes and such written by people way more knowledgeable than we are. That'd be super cool.

depends on how you were playing also, but if you were playing tagish, i would flat.

also i think you might've mistaken me for someone elese

twice the average standard deviation, it means you have an extremely high variance style

You win the fighrnjudtvwat ched family related volience knock the ****. Outbid noucer **** him
Z

folded a T-high flush because I give 35/10 fish at 25NL so much credit that I thought he could only raise better flushes on a non-paired board.

its what happens when run QQ into KK, KK into AA, and having to fold AA on a river c/r allin.

my punishment for running hotter than the sun the first 1khands. =/

that and I'm bad.
/tilt

Grabbed by Holdem Manager
NL Holdem $0.25(BB) Full Tilt
Hero ($28.05)
BB ($19.93)
CO ($26.92)
BTN ($17.15)

Dealt to Hero 8 8

CO raises to $0.85, fold, Hero calls $0.75, fold

FLOP ($1.95) 8 5 K

Hero checks, CO bets $3.25, Hero raises to $6.50, CO raises to $9.75, Hero raises to $13, CO folds

Hero shows 8 8

Hero wins $20.38

lol

------------------------------------

Grabbed by Holdem Manager
NL Holdem $0.25(BB) Full Tilt
Hero ($37.58)
BB ($27.04)
UTG ($25)
UTG+1 ($25)
CO ($31.33)
BTN ($8.84)

Dealt to Hero K A

fold, fold, CO raises to $1.75, fold, Hero raises to $5.50, fold, CO raises to $9.25, Hero raises to $37.58 (AI), fold

Hero shows K A

Hero wins $18.75

against same villain, jesus christ im in tears :\

I pride myself on my ability to accurately decipher Marks posts.
































But not even god can help us now.

Grabbed by Holdem Manager
NL Holdem $0.25(BB) Full Tilt
SB ($31.42)
Hero ($54.47)
CO ($66.02)
BTN ($27.44)

Dealt to Hero 6 4

CO calls $0.25, fold, fold, Hero checks

FLOP ($0.60) 7 3 5

Hero bets $0.75, CO calls $0.75

TURN ($2.10) 7 3 5 A

Hero bets $2.10, CO calls $2.10

RIVER ($6.30) 7 3 5 A Q

Hero bets $10, CO raises to $62.92 (AI), Hero calls $41.37 (AI)

Hero shows 6 4
(Pre 18%, Flop 96.7%, Turn 77.3%)

CO shows A A
(Pre 82%, Flop 3.3%, Turn 22.7%)

Hero wins $107

SHIIIP

Totally nitrolled him while I made sure I had the nuts

so, im sitting in thr bar, a bit of ooo i am a a hard man bar, piss on the walls type bar, some fella gives me a dirty look, being drunk and coked, i turn around and say. here lad, wtf u want, he mutters something abt him being a hard man, im like huh, dude what the **** u want, the ppls with me want to fight and cause a riot, but like i want a few beers, then that **** swings at me and misses, then mate goes in, graps him by the throat takes him out intot the beer garden and make him say sorry for trying start, he gets 5-7 kicks in the ace, im like, dude forget it, his mate then cames out and starts his weekly swinging, and they end up getting him down and kicking him in the face till he calms down.....WTF IMO

If they legalize online poker, it can only get better imo

fyp

lol this made me laugh a lot