There's a relatively narrow band of annual play results, near-breakeven, where a player incurs tax liability on winnings, but has no expectation of a tax benefit from losses. (From a simplified standpoint, above this band, wins and losses have equivalent tax implications, assuming you itemize ... below this band, both are without consequence)
This merely suggests an appropriate discount to your EV when in the band ... not hanging up your hat until next year. Some play may become inadvisable, given a greater tax liability. However, it's entirely possible that other strong play is still viable.
---In vpFREE@yahoogroups.com, <Nordo123@...> wrote :
speaking of taxes I have an old years (2014) resolution for some of you to make. If for 2014 you are "close to even" gambling your resolution should be I will quit gambling for the rest of the year. The logic is infallible: if you win closing out the year you have a partner - The IRS. If you lose your "partner" abandons you. With friends like these you don't need enemies. You may begin gambling on Jan. 1, 2015 when hopefully your swings will be much larger.
Sent from my iPhone
[Non-text portions of this message have been removed]
Posted by: harry.porter@verizon.net
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