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You're right about one thing though.
I am on the fringes of the AP community. I've never pretended otherwise. That's why you don't see me trying to argue with full time APs about AP matters, unless it seems like they're blatantly lying.
But this isn't an AP matter. This is a tax matter, and when it comes down to it, the cash poker world is very similar to the AP world when it comes to tax reporting.
Here's a post on X from Derek Stevens:
https://x.com/DerekJStevens/status/1999221271419294103
On one hand, I'm glad he's engaged with the issue and trying to get it repealed.
But what he's suggesting is useless. It sounds good, but it's ultimately useless. That's what I'm seeing from most people on this matter.
Whining on forums or X won't change the situation. Going on podcasts about it won't change the situation. Calling your Congressman or Senator will not change the situation. These are what are known as slacktivism -- actions which feel like you're doing your part for a cause, when in reality you are having zero impact.
Here's what I tweeted back to Derek:
Quote:
Calling Senators doesn’t work anymore.
You probably know some powerful people who can get this in the hands of someone more influential than Dina Titus, and can get this repealed.
That’s who can fix it. The gambling community is not big enough for a grassroots movement here.
For example, the AGA can engage in lobbying efforts to get this matter over to influential politicians to make this repeal occur, or at minimum, lean on the IRS to give "guidance" which is favorable to the players.
That may end up being the ultimate solution.
I just refuse to take part in slacktivism or exaggerated sky-is-falling outrage.
One more post about slacktivism, and I promise no talk of root canals.
In 2016, there were protests called "The Standing Rock Protests", in reference to an oil pipeline being built on Native American land in South Dakota.
At one point, a rumor went that police were looking at "check-ins" done on Facebook at the site of the protest, in order to identify who was there, and then targeting them for arrest. This rumor turned out to be a hoax, but at the time it wasn't clear if it was real or not, so for the purposes of this story we will pretend it wasn't a hoax.
A viral post went around Facebook asking EVERYONE to check in there, thus flooding the system with check-ins, and making it impossible for police to ascertain who was really there.
Within hours, it had a million fake check-ins. Mission accomplished, right?
But I still had lots of well-meaning, left wing Facebook friends sharing this, urging people to check in.
Finally I said something. I noted that with a million check ins already, if the police really were using this tactic, obviously it wouldn't work anymore. I stated that further check-ins were just virtue signaling, and would have zero impact on the situation. 2,000,000 check-ins accomplishes the exact same thing as 1,000,000 check-ins for this purpose, so why continue to share this?
Well, this enraged people. They hated me for posting this little bit of logic. They wanted to feel like they were helping! They wanted to feel like their sharing this clever countermeasure was doing their little part to stand in solidarity with the Natives and those protesting on their behalf. They were very angry that I was pointing out that their efforts at this point literally had zero usefulness.
I got back some very nasty and angry responses. Some unfriended me, some blocked me.
I found this an interesting view into human psychology. From a very age, we are conditioned to get satisfaction from "helping". Recall when you were 2 years old and your mom would let you "help" her cook. In reality you were just getting in the way, but she was letting you feel like you were helping because it made you feel good.
So when a human thinks they're helping a good cause, and they're told that they've actually been wasting their time, they respond defensively.
A form of that is happening with this law.
Gamblers will not start fudging their win/loss numbers. That’s because they were already doing it long ago. They will just continue doing what they were already doing.
Yes that's been one of my points the entire way.Quote:
Originally Posted by mickeycrimm
People fudging income numbers will fudge another 11%, and this will be negated.
I entered the above post into my dung woo-to-English app and it returned the following translation....Quote:
Originally Posted by jdaewoo
Quote:
Originally Posted by jdaewoo
Would you be shocked to discover that greater than "hardly anyone" on this site claim to have been audited?Quote:
Originally Posted by Dan Druff
I'm not shocked by any claim on this site.Quote:
Originally Posted by coach bellyWould you be shocked to discover that greater than "hardly anyone" on this site claim to have been audited?Quote:
Originally Posted by Dan Druff
If you flake out on filing tax returns, then yeah, you might be audited.
But any AP who duly files their return each year and claims a reasonable income that corresponds with their lifestyle isn't very likely to get audited, with the possible exception if they are claiming big losses against individually large W2-G forms (like if you hit a jackpot for $800k and still claim to have only won $50k for the year).
So now, in his latest Las Vegas Advisor blog, Dancer says he is not going to retire from gambling. It stems from "new information" received by him. I think Dancer has been somewhat confused on the new tax issue. He says he was going to quit because he would have to pay 10% tax on W2G's which he says he gets about 6 million dollars worth a year. And he got that information from Russel Fox, a gambling tax expert.
So I re-listened to the Fox interview on GWAE. Fox didn't say that. Fox endorsed the session method with one day being a session. I already explained about W2G's won in a session and it matches what Fox said. In his case he said that if you get 20K W2G's in a session but win only 3K you attach form 8725 to the W2G's saying minus 17K losses for the session. The date on the W2G's would have to match the date in the log book where you logged in a 3K win for that day.
Dancer admitted in this latest blog that taxes confuse him. So after listening to Gary Kondler, a CPA in Las Vegas, on a podcast he has decided to hire him to do his accounting and keep playing. But from what I get here, this Gary Kondler is just repeating what Russel Fox said.
I suspect that Dancer will be cutting back on those thinnest of edges he's been playing. Or else he will wind up with a shitton of taxes to pay.
Here's Kondler talking about gambling taxes:
https://youtu.be/Bu4PhLLOdUI
LOL of course Dancer is backtracking.
He was going to retire and blame this, but the degenerate side of him went into a panic when he realized that he'd be quitting gambling for good in a week.
Expect to see nearly every other self-projected "quitter" suddenly come back, and claim some sort of misunderstanding.
Recall that Bob Dancer wrote a blog about stealing $10 continental buffets at the Hampton Inn by just paying for a regular room and strolling into the buffet as if he paid for the breakfast package. There's no way this guy has ever been 100% honest with the IRS regarding his winnings.
A Christmas miracle!
GWAE interview of Gary Kondler CPA about the new tax law:
https://youtu.be/VGmFf1FI5IE?si=ISV2C3-6Kuo3ottR
Not really holding my breath.
I'm not planning on playing anything with W2Gs next year...
Slacktivism .. if I followed your logic then why even bother complaining about it? I don't even follow. Outside of calling your rep, what should one do? Show up? I assume you say the same thing about protesting.Quote:
Originally Posted by Dan Druff
It seems you're just telling people to do nothing.
Here is a guy with a tons of viewers. He gets a lackey to go up to the roof of the building - reads a 2 page letter and sends it via social media. Whether it works or not - it is a summation of complaints that motivate people.
You're right, your calling doesn't do anything .. or it might be the one person that pushes the representative over into doing something. You don't know. At some point there is some extra little bit of something that makes them change their mind.
Unfortunately 90% of the time it appears to be money - the vector of power/corruption in this country.
Wait what ?!?! We are supposed to pay Taxes? When did that shit start? :D:D:D (just kidding uncle sammy).
This year I have gone to and participated in I think 3 demonstrations and rallys. Not going to say about what, but you can probably guess. And I KNOW that doing so will change nothing. But here in this country, we still (at least for the time being) have a right to demonstrate and make our voices heard. And I feel like I am not going to give that up without a fight.
And I have at times written to a representative. That really does no good. Unless it is really an overwhelming response, they don't care. Not going to make a difference to them. All they really care about is polling. If polls (which they pay for) say 60% of people in their district want this, they will be for it. And if there isn't an overwhelming number like 60% they will vote the way they are paid (by lobbyists and private interest to vote.
I assume none of you will be playing now since you basically have to pay taxes on 10% of your winnings...
I'm not planning on going to Vegas for anything other than a getaway and using remaining comps at spas...
I have zero desire to play video poker with the new tax law in effect.
Quote:
Originally Posted by SLaPiNFuNK
Even if you were scrupulously reporting you would only be affected if your losses were less than 111.11% of your wins, since as a non-professional you can't carry losses forward anyway.
If your losses exactly matched your wins and you accurately reported then yes, you'd have to pay taxes on 10% of your wins even with zero profit.
ETA - Google is showing me that professionals cannot carry losses forward either. Anyone know if that has always been the case?
In gambling, unlike the stock market, you can't carry your losses to the next year...
In gambling I’ve always traveled the path of least resistence. I learned a long time ago how to make money without hitting the top jackpots. A good slot AP makes money on his way to collecting W2G’s. Typically a yearly earn can be 150% to 200% of the total of W2G’s. Like on a 150K win for the year one might have only 70K or 80K in W2G’s. So the 90% cap on writing off losses and expenses dont mean nothing to a slot AP.
How is this possible? BIG EDGES. LIke 20%, 30%, 50%, 100%, and even higher. In the big edge spots you don’t need a hit from the upper end of the payscale where the odds on such hits are long. You have an advantage just on the low end of the payscale where the odds of the hits ain’t so long. So when the big hits come its all gravy.
The life of a slot AP truly is a non stressful leisure lifestyle.