2018 P/L

Discussion in 'Advanced Craps' started by Robchell, Jan 16, 2019.

  1. Robchell, Jan 16, 2019

    Robchell

    Robchell Member

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    Another year has passed me by and I look at myself and cry......+$914. Anyone else?
     
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  2. Clay

    Clay Member

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    Congrats: Does that include the free scotch !!!!!!!!!!

    Not sure on 2018 - But I had a 300.00 cup of coffee Sunday morning at my local table......
     
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  3. MisterInside, Jan 16, 2019

    MisterInside

    MisterInside Member

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    No way, Jose!

    Lost on craps but had a helluva year on the horses. I BROKE EVEN. Maybe won a few bucks
    and I mean a few. That's a tough game to beat, but I love handicapping. Probably played about 15 times throughout the year.

    My wife bailed my ass out AGAIN when she hit $10,000 at The Cal:
    10x-7-10x......plus a lot of comps.

    Can't deduct on my taxes this year, but I ain't bitchin.
     
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  4. Robchell, Jan 17, 2019

    Robchell

    Robchell Member

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    Hopefully it was one hell of a cup...
     
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  5. eagleeye2, Jan 17, 2019

    eagleeye2

    eagleeye2 Member

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    Misterinside,

    I haven't gotten into 2018 Taxes due in 2019 yet, but I doubt that they have eliminated the Deduction Of ""Gambling Losses = To Gambling Wins""!

    You may well have to pay Taxes From that $10K win on Slots, but all other Verified Losses can be deducted (unless TAX LAW has been changed for 2018); against it, resulting in paying Taxes on only a Part of that $10K, not the whole thing!

    eagleeye2
     
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  6. MisterInside, Jan 17, 2019

    MisterInside

    MisterInside Member

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    You are right. The IRS did not eliminate the deduction of gambling losses up to the extent of the winnings.

    The issue for me is that the standard deduction, $25300 for us, makes it impractical to itemize deductions. I can't get to that $25300 threshold, to make itemizing the best option. I have no mortgage and I live in Ohio, therefore low real estate taxes (and eternal bliss).


    I found the 2018 tax rules slightly better for us than 2017. It's certainly easier. What I like the best is that it was easy to do in December and withdraw IRA funds and take benefit of the lowest tax rate possible. Taxable income < $19050 =10%; $19050-$77400 =12%. No more guessing. It's cheaper to pay 10% now, rather than 12% when the IRS make you withdraw at 70 1/2 years old. Withdraw principal funds when it is best for you to do so. That can change year to year.

    At least, that was my thought.
     
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  7. eagleeye2, Jan 17, 2019

    eagleeye2

    eagleeye2 Member

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    Misterinside,

    Yes, that doubling of "Standard Deduction" will eliminate Itemizing for many, possibly myself.

    Just wanted to make sure you didn't pay Uncle Sam too much in taxes!

    eagleeye2
     
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  8. VDC

    VDC Member

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    I remember a fellow who use to be on these boards... Well he threaten not to give me a Manual i lent him on Craps unless i provided him with $15,000 worth of my losing sport bet tickets. I use to keep my losses from the year in case i hit a parlay, or a future in a craps table paying better then 300:1 odds to where they took the tax out. Then i would offset tax loss by showing losing sport bet tickets.

    Well this guy was going to keep a manual worth $2995 retail unless i gave him $10,000 and another guy $5000.

    I thought that was pretty shady to be honest. And no we dont talk anymore.

    Peace and profits to all of you!
     
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  9. lone irish digit, Jan 18, 2019

    lone irish digit

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    This is Barney,

    Two/thirds of the Trinity possibly?
     
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  10. eagleeye2, Jan 21, 2019

    eagleeye2

    eagleeye2 Member

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    Misterinsider,

    Right-On, whenever the Liberal Dem's get back in, those TAXES will SKYROCKET back UP!

    eagleeye2
     
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  11. Robchell, Jan 22, 2019

    Robchell

    Robchell Member

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    I guess we are off topic?
     
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  12. DeMango, Jan 22, 2019

    DeMango

    DeMango Member

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    It’s what Harley does best.
     
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  13. eagleeye2, Jan 23, 2019

    eagleeye2

    eagleeye2 Member

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    DeMango,

    You need to look in a MIRROR!

    eagleeye2
     
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  14. Robchell, Jan 29, 2019

    Robchell

    Robchell Member

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    2019 - $175...
     
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  15. Robchell, Jan 31, 2019

    Robchell

    Robchell Member

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    Another $110.....2019 P/L - $285
     
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  16. twodicebilly, Jan 31, 2019

    twodicebilly

    twodicebilly Member

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    VDC



    Nice to see you here...…..


    TDB
     
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  17. Robchell, Feb 4, 2019

    Robchell

    Robchell Member

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    Dropped $115 - 2019 up $160....
     
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  18. The Midnight Skulker, Feb 4, 2019

    The Midnight Skulker

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    I take it this includes a $10 toke?
     
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  19. Robchell, Feb 4, 2019

    Robchell

    Robchell Member

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    Bad Math! $175....I don't toke. Always make $2;5,6,8; $1 field and build the 5,6,8 from there. so that the dealers are printing from the start....
     
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  20. James Hall, Feb 4, 2019

    James Hall

    James Hall Member

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    Harley , harley , harley
     
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