Will they adjust pay tables in 2026?

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Originally Posted by MisterV

I find it, oh I don't know, the word "ironic " comes to mind, that the Mormons are behind this bill, given the fact that it was Mormon money that backed the bent noses to build casinos in sin city when no body else would loan them money.

Google "E. Parry Thomas" if you are unfamiliar with this.

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MrV, the world is full of hypocrisy and no more so that "the religious right". Ever wonder why the Mormons and Religious Right are so anti-gay? The answer lies deep within their locked closets, occasionally spilling out into public view. :cool:

Live whatever and however you want to live. But don't try to force it on others. And don't run around in the shadows doing the very shit you preach against. Is that too much to ask?

The Mormons should stay the hell in SLC, with their half dozen wives and 22 kids, and leave the rest of us alone to live our lives as we see fit.

KJ, I'm not really anti-Mormon; I am anti-hypocrisy.

From what little I see the Mormons offer much more "positive" than "negative," e.g. if you tithe and are in good standing they'll support you in time of need.

But those "magic underpants..."

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Originally Posted by MisterV

But those "magic underpants..."

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Yeah those are weird!

Bryce Harper.
Roy Halliday.
Merlin Olsen
Steve Young
Andy Reid.

Not all Mormons are bad. But really, my issue is just live your life and don't try to force other to live by your beliefs. And that goes for not just the Mormons. Live and let live!

Just so happens that living here in LV, where there is a large Mormon population BTW, Mormons always seem to be behind everything that you say "what the fuck is that about". .

Hey, just thought of something. Maybe this 10% "penalty tax", is the Mormons way of trying for force their tithing on to everyone, starting with gamblers. :cool:

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Originally Posted by accountinquestion

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Originally Posted by mickeycrimm

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Originally Posted by accountinquestion

All I will say is I posted a picture of 100k in a fanny pack once and no one accused me of it being fake. You posted a safe of money and everyone was just LOLed at the nonsense with the e-bay prop money.

This is readily verifiable to anyone who cares to track down the messages.

So ........ LOL. That shit won't fly.

Never claimed to be rich but I live comfortably and given how little I've worked for others, hours, etc, I've done pretty fucking good for myself. You were a wage slave most of your life then some made up story about a double up bug where you inserted yourself into the picture years later when no one could verify it.

and lol the phyiscal photo-taking framing of your big jackpot win. You had a hard time taking the picture on just the front side without the actual machine. You neglected that fact that it reflected the rest of the room because you're too slow to notice such things.

You'd never made it outside of a government job.

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No one said a word about the money in Rob’s pic for days. Then boz posted that propmoney could be bought. Then you guys all of a sudden assumed the roles of prop money experts. LMAO it was some funny shit.

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I believe your memory has failed you somewhat. I knew prop money could be bought (as I have bought some) and I believe another person called him out. The stacks of bills looked weird from the side. Like a pad of paper.

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Nope, no one here said anything about prop money until boz. And Boz didn't accuse Rob of buying prop money. He said only that prop money could be bought. Then you guys pounced, becoming overnight prop money experts, at least in your own minds. Boz would verify if he could.

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Originally Posted by mickeycrimm

Nope, no one here said anything about prop money until boz. And Boz didn't accuse Rob of buying prop money. He said only that prop money could be bought. Then you guys pounced, becoming overnight prop money experts, at least in your own minds. Boz would verify if he could.

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How would one go about proving or verifying it, short of a visit to Rob's safe. :confused:

being one that you think jumped on the prop money band wagon, I will say this. When Boz mentioned the amazon prop money, if you look closely, the money looks a slightly different shade. I think Rob attempted to fix this by placing a single real $100 on top of a stack of prop money. That makes the top bill look more real because it is. But it also shows more contrast to the slightly different shade of the edge of the rest of the stack, IMO. It just sort of looks phony.

But none of the really even matters. Let's say for sake of argument the money was real. It was still staged. Rob posted a picture of a safe with a stack of 100's and a gun, was all staged. For what purpose....I don't even know. Rob always wants people to think something that isn't so or true. ;)

I am pretty sure almost anyone on this forum could get their hands on 10k, or even 40, 50K without much trouble, even Rob. So I don't know why Rob would post a picture of fake money. But I think he did! :D That is Rob Singer! That is what MAKES him Rob Singer! I mean go try to figure out why Rob does any of the shit that he does. You will go loony trying.

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Originally Posted by MisterV

KJ, I'm not really anti-Mormon; I am anti-hypocrisy.

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How about this for hypocrisy MrV. How about a gay right wing billionaire, married to a man, with younger male "Boyfriends" that funds far right candidates that rail against gays and try to pass anti-gay bills. He funds the opposition to the very thing that he is.

Ok, I will stop with the politics and try to say focused on the issue here, regardless of who is behind it.

What is interesting to me is that there are 3 politicians representing Nevada and Las Vegas which seem pretty vocal in the fight to overturn this. The 2 Nevada Senators, Rosen and Cortez Masto in the Senate and as mickey said, Dina Titus in the house who has a different bill. But there are several more house of Rep folks that represent Las Vegas, like Susie Lee and Horseford that you are hearing nothing from.

Titus in particular seems very invested. She is running a ton of commercials saying how she is fighting for this. Almost seems like she is all-in (poker term) on this and it could cost her seat if she fails.

Got a hand pay for $2900, with state and federal withholding net I received was $2100. Had the JP been $1950, would have received $1900. Kind of apples to oranges in some way, but not really on the other hand s.

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Originally Posted by theywontpayontuesday

Got a hand pay for $2900, with state and federal withholding net I received was $2100. Had the JP been $1950, would have received $1900. Kind of apples to oranges in some way, but not really on the other hand s.

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Is the state tax taken out automatically without you having any say or as with federal tax is it a voluntary move?

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Originally Posted by kewlJ

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Originally Posted by DGenBen

It’s more likely the industry missed it because they were asleep at the switch.

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See, THIS is actually the part I find hard to believe. :rolleyes: Makes more sense to me that these gaming protection consultants and groups, in their own self- interest convinced the industry this isn't such a bad idea. That it would end all the advantage play.

I guess some of that is just me thinking not very highly of the industry and decision they make or have made over the last 20-25 years, and those making the decisions, which is about the time it has been since real casino people ran things. So many decisions over the last 20 years just have not been very sound decisions.

And just to be clear, I am not suggesting the industry was behind this bill. It is clearly the Mormons who are. But maybe the industry was erroneously convinced that this isn't such a bad thing.

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People in the gaming industry have already come out against the 90% provision.

And eliminating it has bipartisan support within the Nevada Congressional delegation.

If the casino industry did not want it changed you can bet that no one from the Nevada Congressional delegation would be supporting the change no matter how bad it screwed the general public over.

The headline on the linked article below is “ It needs to be done now:’ Nevada casinos, lawmakers eager to reverse gambling deduction change”

https://thenevadaindependent.com/art...duction-change

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Originally Posted by DGenBen

https://thenevadaindependent.com/art...duction-change

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Thank you. That was an interesting read. I did not know a law has to have taken effect to be 'fixed". Which it now has.

It is encouraging that there seems to be bi-partisan support. There was only one thing in that article that seemed discouraging and that is where someone said it must be fixed by April 2027 (tax time). That is incorrect. As Derek Stevens said "it need to be fixed NOW". Could already be having an effect.

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Originally Posted by mickeycrimm

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Originally Posted by accountinquestion

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Originally Posted by mickeycrimm

No one said a word about the money in Rob’s pic for days. Then boz posted that propmoney could be bought. Then you guys all of a sudden assumed the roles of prop money experts. LMAO it was some funny shit.

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I believe your memory has failed you somewhat. I knew prop money could be bought (as I have bought some) and I believe another person called him out. The stacks of bills looked weird from the side. Like a pad of paper.

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Nope, no one here said anything about prop money until boz. And Boz didn't accuse Rob of buying prop money. He said only that prop money could be bought. Then you guys pounced, becoming overnight prop money experts, at least in your own minds. Boz would verify if he could.

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Don't need to be an expert in prop-money.

Next to be an expert in real bills, son.

stacked.

It is pretty obvious when you see prop money in a high res photo.

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Originally Posted by kewlJ

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Originally Posted by DGenBen

https://thenevadaindependent.com/art...duction-change

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Thank you. That was an interesting read. I did not know a law has to have taken effect to be 'fixed". Which it now has.

It is encouraging that there seems to be bi-partisan support. There was only one thing in that article that seemed discouraging and that is where someone said it must be fixed by April 2027 (tax time). That is incorrect. As Derek Stevens said "it need to be fixed NOW". Could already be having an effect.

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I agree with you there.

Something dawned on me after rereading this article. To illustrate the new tax law it says “A gambler who wins $100,000 and loses $100,000 will owe taxes on $10,000 of phantom income.”

This is the same example all the articles about this are using and they are obviously just trying to keep the example simple so that the average person will understand it.

The problem though is almost no one loses exactly the same amount they win.

Most people lose much more then they win, and professionals or someone who got lucky with a big score usually wins more than they lost.

So although the law is bad for a variety of reasons, it is not quite as terrible as people think when they constantly read about taxes on phantom income by losing the exact same amount as you won.

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Originally Posted by kewlJ

While running some errands this morning, I was thinking about this new tax 'penalty'. I am expecting pushback from the casino industry and their lobby. But so far it has been almost non-existant. There is pushback from analysts and such in the industry speculating some negatives, and from lawmakers representing Las Vegas and Nevada, but really not much from the industry itself. You would think they would be up in arms.

So I was thinking what if the actual casino industry is on board with this bill? Maybe they think it as a way to fight back against advantage players? In the last 10 years or so there has been an explosion of machine type advantage play. You went from poker advantage play which has been around far long than 10 years, to different advantage play with all the newer type machines. There was the multi-carding period, to now the slot AP that mickey and others are doing is very big,

The industry has been slow to come up with ways to combat some of these advantage play methods and about the time they figure something out some new AP thing pops up. Maybe this new law which they are secretly or silently on board with is their way to combat the whole growing machine advantage play problem they have faced for a decade or more.

I mean we know these game protection groups and consultants feed the casinos and industry over-inflated numbers about how much advantage play is hurting their bottom line.

Personally, I think it would be a stupid move because it is going to hurt them far more driving down, just your regular gamblers. Kind of a cut off your nose to spite your face scenario. Would it surprise me if the industry made a bad decision like that? absolutely not. Anyway, just trying to figure why we haven't seen much push back from the actual casinos and casino industry. THAT is the part that doesn't make sense. (Bad) ulterior motive? :confused:

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There are videos of tax professionals and professional gamblers who have looked into this...

The casino industry is not going to speak out against this as they want you to keep feeding the machines...

It would be great if they overturn it but I am not holding my breath.

The law is pretty clear.... "You can only write off 90% of your losses"

In gambling, you can not write off more than you have won. Then you start needing to prove where those additional funds came from for one, and there is no benefit for writing off more as you are not going to get any additional deductions.

Note, that the 90% of losses is against REPORTED WINS... Reported wins are W2G or Stated Income...

If you are a slot player, your wins are shown on W2G's...

If you are a professional black jack player, your wins come from what you state...

IF you were to report EVERY WIN, and EVERY LOSS, the amount would be crazy that you would owe... Say you are a professional black jack player and you decide to be a fuckass and report every win and every loss, itemized... Based on the new law, say you won $1,000,000 worth of hands, and lost $900,000 worth of hands.... Not only are you paying tax on $100,000 worth of income but also an additional $90,000 for your losses you decided to report. Do you think you are better off itemizing and paying taxes on $190,000 worth of income even though you only made $100,000?

I'm tired of repeating myself. You guys are in denial if you think this isn't going to effect you. But if you are playing $0.25 video poker and lower it wont... $0.50 video poker player will only effect you if you hit a royal... etc etc...

It applies to W2G payouts mainly... Judging by the "Big Casino Wins and Jackpots" thread, majority of you aren't playing enough for this to matter...

Fact is, 10% of W2G's are now taxable... No additional "writing off losses" is going to cancel that out...

If you aren't getting W2G's it doesn't apply to you.

If you have gotten W2G's in the past, you know how to handle the taxes with them...

I know very very well about W2G's... Unfortunately my tax guy in 2015 tax year neglected to account for about $120K worth of W2G's... I found out when I got a tax bill for about $35K... They said I could file an amended return so I did.. They denied it because they said "I could not file additional losses"... Lawyers involved etc, we tried to explain to the IRS how it worked where you could get a W2G for a "Win" but it actually just get you even or you still have a loss for that session etc... No luck... I got fucked and had to pay $35K plus penalties etc on W2G income I didn't actually have... So I've been there before and it fucking sucks...

For you brokeass fucks, this doesn't matter to you.

For those of you who are playing, winning or not, every W2G you need to keep in mind, unless this bill changes, 10% of that win is going to be taxable winning year or not...

Fucks...

No offense but if you had a tax guy that neglected to account for $120,000 in W2Gs then your problem was a retarded tax guy.

Your best bet would be to get a tax guy that knows what he is doing regarding gambling.

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Originally Posted by DGenBen

No offense but if you had a tax guy that neglected to account for $120,000 in W2Gs then your problem was a retarded tax guy.

Your best bet would be to get a tax guy that knows what he is doing regarding gambling.

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Yes. That was 10 years ago. I no longer work with him... Complete oversight he is an idiot.

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Originally Posted by SLaPiNFuNK

For you brokeass fucks, this doesn't matter to you.

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LOL

You've no idea whether I or any other forum member is in fact a "broke ass fuck," do you?

And what the fuck does one's wealth have to do with how much he chooses to bet?

Hell, by report Bill Gates enjoyed playing very low limit blackjack.

No, what you could have said is that the law doesn't matter to gamblers who don't get any w2-G's, and left it at that.

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Originally Posted by MisterV

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Originally Posted by SLaPiNFuNK

For you brokeass fucks, this doesn't matter to you.

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LOL

You've no idea whether I or any other forum member is in fact a "broke ass fuck," do you?

And what the fuck does one's wealth have to do with how much he chooses to bet?

Hell, by report Bill Gates enjoyed playing very low limit blackjack.

No, what you could have said is that the law doesn't matter to gamblers who don't get any w2-G's, and left it at that.

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I did say that... But seems people on here don't see to understand unless you degrade people...

I do apologize for referring to people as broke asses.... I'm just really upset about this... And it drives me wild people don't understand what a big deal this actually is...

They saw billions of dollars in "winnings" and they want their piece. They don't understand or care about us...