vpFREE2 Forums

Taxes and EV

#1

This subject has never been addressed to my satisfaction.

I'll make 3 assumptions:

1)The filer is honest.

2)Being an advantage player, net win exceeds loss by a significant
   amount.

3)Filer plays $ VP.

It seems that it would be rare indeed to have a positve EV game even
with CB considerations. Using a 36% combined fed and state tax, I
come up with 98.8% for JOB by subtracting 36% from the contribution of
the RF (2%) to the return. For DB it comes out to 99.57%.

How does the $ player make a profit? This is what keeps me from going
up from quarters or from playing a prog. when the RF is over $1200.

I'd appreciate some input on this.

George in SF

#2

Assume gross win (1040-G's) at $150,000
Assume net win at $60,000
Pay taxes.
There is still a LOT left over.

···

On Sun, 31 Aug 2003 20:49:20 -0000, you wrote:

This subject has never been addressed to my satisfaction.

I'll make 3 assumptions:

1)The filer is honest.

2)Being an advantage player, net win exceeds loss by a significant
  amount.

3)Filer plays $ VP.

It seems that it would be rare indeed to have a positve EV game even
with CB considerations. Using a 36% combined fed and state tax, I
come up with 98.8% for JOB by subtracting 36% from the contribution of
the RF (2%) to the return. For DB it comes out to 99.57%.

How does the $ player make a profit? This is what keeps me from going
up from quarters or from playing a prog. when the RF is over $1200.

I'd appreciate some input on this.

George in SF

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