*** OFFICIAL *** Druff, Drexel, and Vwls Show Thread for 7/31/2012 -- SPECIAL POKERSTARS BUYS FULL TILT EDITION! ---- plus $59 freeroll & $10 contest

[Dan Druff]

Please be more specific.

10 on top for favor you did for me

You're right. Okay, make it $59 for this freeroll then.

1st 35, 2nd 16, 3rd 8

[pikachar]

What's the o/u on the episode length tonight?

How much we talking about?

[Dan Druff]

Here is a pic literally taken of Katie just minutes after our prank call (tit shot, not safe for work):

 

[Hockey Guy]

Here is a pic literally taken of Katie just minutes after our prank call (tit shot, not safe for work):

 

She sent you that?

See, you should have called her back. It could have been(& still could be)epic.

She seemed like a great sport.

[Dan Druff]

Here is a pic literally taken of Katie just minutes after our prank call (tit shot, not safe for work):

 

She sent you that?

See, you should have called her back. It could have been(& still could be)epic.

She seemed like a great sport.

We will call her next week.

She didn't send this to me, but it was taken moments after we hung up.

The show is in the archives, by the way:

http://pokerfraudalert.com/forum/sho...wn-Dickonomics

[Action]

Druff I said on twitter I'd put $10 towards the tourney. Let me know where to paypal it. Great show tonight!

[Dan Druff]

Druff I said on twitter I'd put $10 towards the tourney. Let me know where to paypal it. Great show tonight!

Glad to see you over here, Action.

Missed the tweet somehow.

You can either retroactively put this $10 towards the prize pool (and I'll update the 1st, 2nd, and 3rd prizes), or you can apply it to next week. Up to you!

Let me know.

[NaturalBornHustler]

She sent you that?

See, you should have called her back. It could have been(& still could be)epic.

She seemed like a great sport.

We will call her next week.

She didn't send this to me, but it was taken moments after we hung up.

The show is in the archives, by the way:

http://pokerfraudalert.com/forum/sho...wn-Dickonomics

So where did the pic come from and how did you acquire it?

[Drexel]

We will call her next week.

She didn't send this to me, but it was taken moments after we hung up.

The show is in the archives, by the way:

http://pokerfraudalert.com/forum/sho...wn-Dickonomics

So where did the pic come from and how did you acquire it?

I sent it to Druff. It seems I handle the process of getting the up and coming porn stars on radio. We will call her in two weeks. She will be all over the Internet by then. Katie King. A real up
and cummer

[Hockey Guy]

I sent it to Druff. It seems I handle the process of getting the up and coming porn stars on radio. We will call her in two weeks. She will be all over the Internet by then. Katie King. A real up
and cummer

Still think it was a mistake not to call her back right away.

[Baron Von Strucker]

Smack crackhead pot yall

FYP

[Belly Buster]

Tonybags and tuffturf broke the tourney site by both sitting out and I just found it stuck in an infinite loop. They share 1st place.

Tournament=Radio Donkament
Number=86
BuyIn=0+0
PrizeBonus=12000
MultiplyBonus=No
Entrants=54
Start=2012-07-31 19:40:09
Place54=simpdog (0)
Place53=donkey (0)
Place52=dwai (0)
Place51=Charham (0)
Place50=Edward_Teach (0)
Place49=VegasJim (0)
Place48=theGerman (0)
Place47=flawlessbink (0)
Place46=Bootsy (0)
Place45=bingo (0)
Place44=PocketPits (0)
Place43=Daredevil (0)
Place42=Hockey_Guy (0)
Place41=snowtracks (0)
Place40=Achilles6 (0)
Place39=ftpjesus (0)
Place38=DonkCrusher (0)
Place37=Jefferson (0)
Place36=Fergie72 (0)
Place35=SenseiKreese (0)
Place34=drexel1 (0)
Place33=DirtyErnie (0)
Place32=Action071 (0)
Place31=Sandwich (0)
Place30=ltrainkoja (0)
Place29=potripper (0)
Place28=marke2601 (0)
Place27=SpewArtist (0)
Place26=RevJohn (0)
Place25=tradershky (0)
Place24=pikachar (0)
Place23=TheGreek23 (0)
Place22=RolloT (0)
Place21=Muck_Ficon (0)
Place20=BCR (0)
Place19=gauchojake (0)
Place18=xtremepedro (0)
Place17=MrGreenthumb (0)
Place16=Deal (0)
Place15=lee_cutter (0)
Place14=BUBBLES (0)
Place13=EatMyTaint (0)
Place12=MRobot (0)
Place11=Cornbread (0)
Place10=shortbuspkr (0)
Place9=SixToedPete (0)
Place8=DrPeters (600)
Place7=PoolGrizzly (720)
Place6=MdwstHstlr (840)
Place5=FPS_Russia (960)
Place4=bigslick7878 (1200)
Place3=tigerpiper (1680)
Place1=tonybags (3000)
Place1=TUFFTURF (3000)
Stop=2012-08-01 10:31:37 (Abort)

[Vwls]

LOL EatMyTaint in 13th. Who is that?

[Action]

Druff I said on twitter I'd put $10 towards the tourney. Let me know where to paypal it. Great show tonight!

Glad to see you over here, Action.

Missed the tweet somehow.

You can either retroactively put this $10 towards the prize pool (and I'll update the 1st, 2nd, and 3rd prizes), or you can apply it to next week. Up to you!

Let me know.

I'll put it towards last night's tourney. Paypal?

[GrenadaRoger]

re: FTP payback tax questions

I am a CPA in the business of preparing tax return


1 - will the IRS get involved? Only if 1099's are sent out for the payments. The payment registration process will probably require you to give your name & tax ID info, and probably any payment above $600 will result in a 1099. The 1099 will give the IRS something to match to your return. With no 1099, no taxable income is reported to the IRS, thus you have no need to include the payout in your return.

2 - what year to report the income? In the year you get the money---2012. Just about every person is a cash basis taxpayer, meaning that income isn't reported on your tax return until you can take the cash and can spend it. So as your cash was unavailabe to you before the payout, you wouldn't have to report it even if you won the money in years prior....thus you recognize/report income only when you receive the payout .

3 - how do you report? non-professional gamblers Report on line 21 (other income) of your form 1040 the money you receive as per the Form 1099, and on schedule A in the miscellanous deduction section report the money you put into Full Tilt. Professional gamblers prepare a Schedule C

4 - Is it worth the IRS' time to bother? Yes, the 1099 process is highly automated , and the 1099 issued by PokerStars/the Fund will easily fit into the existing IRS machinery. Indeed, the IRS already sends notices for 1099 seemingly omitted for amounts for as little as $10. This Full Tilt payout will require little additonal work to the IRS if the payers report the payments via 1099s.

[Belly Buster]

Meanwhile, over at donkdown ...

[Dan Druff]

re: FTP payback tax questions

I am a CPA in the business of preparing taxes


1 - will the IRS get involved? Only if 1099's are sent out for the payments. The payment registration process will probably require name & tax ID info, and probably any payment above $600 will result in a 1099. The 1099 will give the IRS something to match to your return. No 1099, no tax reported, no need to include it in your return.

2 - what year to report the income? In the year you get the money---2012. Just about every person is a cash basis taxpayer, meaning that income isn't reported on your tax return until you can take the cash and spend it. So as your cash was unavailabe to you before the payout, you recognize/report income when you receive it.

3 - how do you report? non-professional gamblers Report on line 21 of your form 1040 your receipts, and on schedule A miscellanous deduction report the money you put into Full Tilt. Professional gamblers prepare a Schedule C

4 - Is it worth IRS time to bother? Yes, the 1099 process is highly automated , and the 1099 issued by PokerStars/the Fund will easily fit into the IRS machinery. The IRS already sends notices for 1099 seemingly omitted for amounts as little as $10. It will require little additonal work to the IRS.

Are you sure a 1099 is going to be issued? Why the $600 limit to not get one when the Rio no longer sends them out for lower 4-figure cashes?

[Jasep]

re: FTP payback tax questions

I am a CPA in the business of preparing taxes


1 - will the IRS get involved? Only if 1099's are sent out for the payments. The payment registration process will probably require name & tax ID info, and probably any payment above $600 will result in a 1099. The 1099 will give the IRS something to match to your return. No 1099, no tax reported, no need to include it in your return.

2 - what year to report the income? In the year you get the money---2012. Just about every person is a cash basis taxpayer, meaning that income isn't reported on your tax return until you can take the cash and spend it. So as your cash was unavailabe to you before the payout, you recognize/report income when you receive it.

3 - how do you report? non-professional gamblers Report on line 21 of your form 1040 your receipts, and on schedule A miscellanous deduction report the money you put into Full Tilt. Professional gamblers prepare a Schedule C

4 - Is it worth IRS time to bother? Yes, the 1099 process is highly automated , and the 1099 issued by PokerStars/the Fund will easily fit into the IRS machinery. The IRS already sends notices for 1099 seemingly omitted for amounts as little as $10. It will require little additonal work to the IRS.

Are you sure a 1099 is going to be issued? Why the $600 limit to not get one when the Rio no longer sends them out for lower 4-figure cashes?

I've only ever gotten a 1099 on 5k and over live

[Steve-O]

Are you sure a 1099 is going to be issued? Why the $600 limit to not get one when the Rio no longer sends them out for lower 4-figure cashes?

I've only ever gotten a 1099 on 5k and over live

The $600 is the threshold for reporting independent contractor income I believe. So if I were to pay a gardner $500 i wouldn't have to have him fill out a 1099, but if I pay him $600 he has to fill one out. Grenada would probably be a better person to ask, but I know $600 is an important tax threshold for one-time payments.

I think you guys are thinking a W-2G form, not a 1099

***EDIT*** I only know this because I used to do payroll when I was a manager for a health club and we had a shit-ton of 1099 employees

[tigerpiper]

I came in third. $8 roll into next week please. When it gets more than $2000, I'll claim my prize.