[vpFREE] Scot Krause's LVA Players Club Bonus Points Update - 12 APR 2015

 

Scot Krause's LVA Players Club Bonus Points Update - 12 APR 2015

http://www.lasvegasadvisor.com/greatdeals-slotpromotions.cfm

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Posted by: vpFREE3355 <vpfree3355@gmail.com>
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Re: [vpFREE] Re: Tax question

 

A friend won a car in Laughlin .."Riverside Casino."7. ..she received .   much less fhan the car was  worth. ( she had taken  cash instead  of car). Quite a hassle  with  fhe IRS..... so beware with choosing cash over "won  item"

Sent from Yahoo Mail on Android

From:"aonsf@reallymymail.com [vpFREE]" <vpFREE@yahoogroups.com>
Date:Sun, Apr 12, 2015 at 17:11
Subject:[vpFREE] Re: Tax question

 

Thanks, this helps a bit. As for cars, I would think you'd get a 1099 or some such from the casino with it, though I can imagine many years ago casinos might not have given you tax papers for it . I think the book even mentions a specific instance and a discrepancy between the value the casino said the car was worth and what it was actually worth.

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Posted by: Keno Caryl <mail4caryl@yahoo.com>
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[vpFREE] Re: Tax question

 

Thanks, this helps a bit. As for cars, I would think you'd get a 1099 or some such from the casino with it, though I can imagine many years ago casinos might not have given you tax papers for it . I think the book even mentions a specific instance and a discrepancy between the value the casino said the car was worth and what it was actually worth.

[Non-text portions of this message have been removed]

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Re: [vpFREE] online poker bot, supposedly unbeatable ...

 

Ed, that was a great article by Paradis. BTW, I have Small Stakes No Limit Holdem on kindle. Its a great read. No limit holdem hands have varying degree's of both showdown equity and bluff equity. That's very good. I had never thought about it in such terms before. It cuts right to the chase.

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Posted by: mickeycrimm@yahoo.com
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[vpFREE] Vegas Values Report - 12 APR 2015

 

Vegas Values Report - 12 APR 2015

http://www.americancasinoguide.com/vegas-values/vegas-values-report-for-april-12-2015.html

or

http://goo.gl/XC5ZGx

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of the linked article's content by vpFREE. Any
discussion of the article must be done in
accordance with vpFREE's rules and policies.
*************************************************

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Posted by: vpFREE3355 <vpfree3355@gmail.com>
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Re: [vpFREE] online poker bot, supposedly unbeatable ...

 

I'm not a heads-up pro. But I know a number of them who were at the top
level of the game before people basically stopped playing limit hold'em
heads-up for real money. Linked below is an article by one of these pros,
who made millions playing and is well-respected as one of the best.

http://poker-blog.srv.ualberta.ca/2015/01/08/humans-robots-and-the-consequences.html

The IGT bot has nothing in common with this one, except that they are both
computer programs that play the same game.

The claims in this thread are backed with essentially zero evidence. The
claims the UofA team has made are backed by a number of peer-reviewed
papers, and the scrutiny over at least 8 years of some of the top players
in the world. There's not much else to say.

Ed

On Sun, Apr 12, 2015 at 4:25 AM, mickeycrimm@yahoo.com [vpFREE] <
vpFREE@yahoogroups.com> wrote:

>
>
> I somewhat followed a 2+2 thread on the limit heads up holdem machines a
> few years back. The best article I ever read on the game was "Investigating
> Heads Up Texas Holdem Poker" by Nick Christensen. You can google it. He
> gives a great analysis on how the game plays.
>
> There is no rake in the game but I think it was estimated that maybe 1% of
> players had the talent to beat the game. Some people questioned why, if
> these 1%'ers could beat the game, they weren't playing it. The reply was
> with the limits offered they had better hourly rates in other spots.
>
> I'm not a heads up expert and play very little poker these days. I'm
> spoiled rotten by my video poker, video keno and video line game play. But
> I knowEd Miller to be a heads up pro. If he says this Caephus bot is
> virtually unbeatable then I take his word for it.
>
>

[Non-text portions of this message have been removed]

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Posted by: Ed Miller <ed.miller@gmail.com>
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[vpFREE] Re: Tax question

 

I'm a CPA. I file a sch C. I think all of these are gifts and are not taxable, except #3 and then only if you take the free play.
Although there was a case where a high roller was given a car and it was ruled as taxable. I've heard more than once a taxpayer being told by an agent "I don't want to hear it" about comps. The law about being rebates on taxable items (gambling) being taxable is quite clear, though.

Posted by pede1976:Any chance you can send these questions off to Marissa or speak to how you specifically deal with them? I acknowledge that I am just asking for informational purposes, there is no engagement letter, there is no formal relationship between me and anyone else that offers advice, etc.

1. A casino gives me a $50 dining coupon via mailer - it has an expiration date. Is this taxable income when I use it?

2. A casino gives me a $50 dining coupon after I played for an hour - it has an expiration date. Is this taxable income when I use it?

3. I earn 1000 points at a casino and can use them to get $10 freeplay or $20 worth of food at the restaurant. Are either of these taxable income when I use them, and if spending my points on food is, do I say that was $20 (food value) or $10 (cash value) worth of income?

4. I earn 1000 points at a casino and can ONLY spend the points on gifts at the gift shop. Is this taxable?

5. I earned $50 in gas gift cards while playing (did not spend points on them), are these taxable?

In my mind, prior to reading the book, I would have thought that only 3 (both food & freeplay) was taxable, and 5 was taxable. However, after reading the book, especially when it says gifts are not taxable, I'm pretty strongly inclined to believe 5 is not taxable, and 3 may only be taxable if you take the freeplay.

[Non-text portions of this message have been removed]

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Posted by: Sam Phillips Beckerman <becksam@aol.com>
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RE: [vpFREE] Re: BJ and VP hands per hour

 

Thanks for the reply

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Posted by: lfcmja@verizon.net
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[vpFREE] Re: BJ and VP hands per hour

 

Thanks

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Re: [vpFREE] online poker bot, supposedly unbeatable ...

 

I somewhat followed a 2+2 thread on the limit heads up holdem machines a few years back. The best article I ever read on the game was "Investigating Heads Up Texas Holdem Poker" by Nick Christensen. You can google it. He gives a great analysis on how the game plays.

There is no rake in the game but I think it was estimated that maybe 1% of players had the talent to beat the game. Some people questioned why, if these 1%'ers could beat the game, they weren't playing it. The reply was with the limits offered they had better hourly rates in other spots.

I'm not a heads up expert and play very little poker these days. I'm spoiled rotten by my video poker, video keno and video line game play. But I knowEd Miller to be a heads up pro. If he says this Caephus bot is virtually unbeatable then I take his word for it.

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Posted by: mickeycrimm@yahoo.com
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[vpFREE] Re: Taxables

 

What constitues a session is another grey area. I consider a session to be my play on an indiviual machine for as long as I play it. If I cash out for any reason I close that session. If I cash out to go eat and come back to the same machine I start a new session. If I change machines for whatever reasons I start a new session.

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Posted by: mickeycrimm@yahoo.com
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[POKERHOLICS - Also at Myspace!!] File - Ad Rates

 


If you wish to advertise in this group, as opposed to actively participating, these are the rates, subject to discretion of the moderators:

Banner ad on the front of the group: $100/month
Text link: $50/month

Other types of placement will be subject to the discretion of the group owners.

Length of ad and terms subject to negotiation.

From time to time, you will be subject to third party offers off list.

Contact Gary and/or Mike for more info.

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Doylesroom.com has $4,000,000 in monthly freeroll and tournaments. And when you register, you can receive a 110% SUPER SIGN-UP BONUS on your first deposit up to $550.00.  Click here to register:   http://www.doylesroom.com/?refid=abitlucky

All posts to this group are �2007 the owners. Individuals still retain their own copyright, subject to the above.

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Re: [vpFREE] Re: Tax question

 

Marissa or I do not give out specific tax advice on public forums or in e-mails. This would not be ethical as we would not know individual facts and circumstances in each case. Marissa is an EA and has a business that includes tax preparation. You would need to contact her personally to find out her fees and set up an interview.

As I mentioned in an earlier post, all of your questions have been discussed in Chapter 3 of Tax Help for Gamblers. However, all of the subjects you mention are gray areas. Marissa has given some of her professional opinions in the book but with the disclaimer that there is no standardized interpretation of these issues by various tax preparers or even by IRS employees.

This is not really a good forum for you to get answers to your questions. Most tax professionals would not give opinions here. So the most you will get are personal opinions or personal experiences by non-professionals. Some of this information might be food for thought – but not guidance that is "God's truth." You need to check with a tax professional who will look at your total financial picture.

------------------------------------------
Jean $¢ott, Frugal Gambler
http://queenofcomps.com/
http://jscott.lvablog.com/
UPDATED TAX BOOK
(Download 2015 eBook now)

From: mailto:vpFREE@yahoogroups.com
Sent: Saturday, April 11, 2015 6:20 PM
To: vpFREE@yahoogroups.com
Subject: [SPAM][vpFREE] Re: Tax question

Any chance you can send these questions off to Marissa or speak to how you specifically deal with them? I acknowledge that I am just asking for informational purposes, there is no engagement letter, there is no formal relationship between me and anyone else that offers advice, etc.

1. A casino gives me a $50 dining coupon via mailer - it has an expiration date. Is this taxable income when I use it?

2. A casino gives me a $50 dining coupon after I played for an hour - it has an expiration date. Is this taxable income when I use it?

3. I earn 1000 points at a casino and can use them to get $10 freeplay or $20 worth of food at the restaurant. Are either of these taxable income when I use them, and if spending my points on food is, do I say that was $20 (food value) or $10 (cash value) worth of income?

4. I earn 1000 points at a casino and can ONLY spend the points on gifts at the gift shop. Is this taxable?

5. I earned $50 in gas gift cards while playing (did not spend points on them), are these taxable?

In my mind, prior to reading the book, I would have thought that only 3 (both food & freeplay) was taxable, and 5 was taxable. However, after reading the book, especially when it says gifts are not taxable, I'm pretty strongly inclined to believe 5 is not taxable, and 3 may only be taxable if you take the freeplay.

[Non-text portions of this message have been removed]

[Non-text portions of this message have been removed]

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Posted by: "Queen of Comps" <queenofcomps@cox.net>
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