FISHHEAD Posted February 16 Author Report Share Posted February 16 Granted, if one is netting over $500,000, throw the bastards a few bones...............most of us don't. Quote Link to comment Share on other sites More sharing options...
brokerstip Posted February 16 Report Share Posted February 16 Owe single every year. 2 years ago bought geothermal furnace, last year bought a new Suburban Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted February 16 Report Share Posted February 16 REITs are your friend men. Quote Link to comment Share on other sites More sharing options...
KingKolzig Posted February 17 Report Share Posted February 17 Yep more dew Quote Link to comment Share on other sites More sharing options...
KingKolzig Posted February 17 Report Share Posted February 17 Time to leave. Begging failed Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted February 17 Report Share Posted February 17 ^^^ Last post ever from this asshole. Quote Link to comment Share on other sites More sharing options...
mikeman Posted February 18 Report Share Posted February 18 41 minutes ago, Jimmy Hoffa said: ^^^ Last post ever from this asshole. Jimmy throwing his weight around. Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted February 18 Report Share Posted February 18 10 minutes ago, mikeman said: Jimmy throwing his weight around. I don't want him here anymore Mike. Bullshit crybaby stuff from him all over the forum. I've asked him 100 times but his alcohol pickled brain couldn't comprehend... Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted February 18 Author Report Share Posted February 18 1 hour ago, Jimmy Hoffa said: ^^^ Last post ever from this asshole. LOL Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted February 18 Report Share Posted February 18 I'm going to miss his PMs begging for money, his tranny porn and all his posts I've had to hide behind the curtain because they're profane ignorant and overtly immature. I'll publish them all. Elsewhere. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted February 18 Author Report Share Posted February 18 LOL Quote Link to comment Share on other sites More sharing options...
mikeman Posted February 18 Report Share Posted February 18 1 hour ago, Jimmy Hoffa said: I'm going to miss his PMs begging for money, his tranny porn and all his posts I've had to hide behind the curtain because they're profane ignorant and overtly immature. I'll publish them all. Elsewhere. Wow, begging for money, why would he think you would give him money? He never PM'd me, I might have fallen for it(up to a point). Quote Link to comment Share on other sites More sharing options...
JTGAMBLE Posted February 18 Report Share Posted February 18 Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted February 18 Report Share Posted February 18 2 minutes ago, mikeman said: Wow, begging for money, why would he think you would give him money? He never PM'd me, I might have fallen for it(up to a point). That's how he extracted money from boat. PM Quote Link to comment Share on other sites More sharing options...
PatrickBateman Posted February 18 Report Share Posted February 18 24 minutes ago, Jimmy Hoffa said: That's how he extracted money from boat. PM How much? Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 18 Report Share Posted February 18 thanks to getting hand pays (and no hand jobs) all over the country, my son and i each have to file in around 10 fukking states, and do 10 separate schedule c's listing our income and expenses in each state separately what a joke Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted February 18 Report Share Posted February 18 Reps. Reschenthaler, Titus urge IRS to raise reporting threshold for slot machine winnings BY DAVE KOVALESKI | FEBRUARY 13, 2024 U.S. Reps. Guy Reschenthaler (R-PA) and Dina Titus (D-NV) expressed their support for a recent recommendation made by the Internal Revenue Service Advisory Council (IRSAC) on reporting slot machine winnings. © Shutterstock The IRS Advisory Council recommends increasing the reporting threshold for slot machine jackpot winnings to $5,000, to account for inflation. “We urge you to follow the IRSAC’s recommendation and exercise your authority to raise the threshold for slot machine jackpot winnings to $5,000 and to consider periodic increases to the threshold based on inflation. Taking this action will align with the IRS initiative to strategically use data to improve tax administration and modernize tax reporting for our constituents,” the lawmakers wrote in a letter to IRS Commissioner Danny Werfel. Reschenthaler and Titus are co-chairs of the bipartisan Congressional Gaming Caucus,. Under the current IRS policy, slot machine jackpot winnings of $1,200 or more require a W-2G tax form. However, this threshold has not been updated since 1977, despite a substantial increase in the number of W-2G forms filed each year. Due to inflation, the lawmakers said this outdated standard has significantly increased compliance burdens on taxpayers and operating costs for casinos across the country. Last year, Reschenthaler and Titus introduced the Shifting Limits on Thresholds (SLOT) Act, which would raise the tax threshold for slot winnings from $1,200 to $5,000. The IRSAC now supports this recommendation. The proposed change has the support from the gaming industry. “The antiquated slot tax threshold creates unnecessary burdens for consumers, casino operators and the IRS,” American Gaming Association (AGA) President and CEO Bill Miller said. “The AGA commends Representatives Reschenthaler and Titus and other Congressional leaders for their dedicated efforts to modernize this long-outdated policy and join them in urging Commissioner Werfel to raise the threshold.” Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 18 Report Share Posted February 18 $1200 really is stupid especially when you consider so many of these must-hit-by machines, if it pays $2k but on average you have $1950 into the thing, you are only making $50 when you sit down Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted February 18 Author Report Share Posted February 18 18 minutes ago, milwaukee mike said: thanks to getting hand pays (and no hand jobs) all over the country, my son and i each have to file in around 10 fukking states, and do 10 separate schedule c's listing our income and expenses in each state separately what a joke PAIN Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted February 18 Author Report Share Posted February 18 10 minutes ago, milwaukee mike said: $1200 really is stupid especially when you consider so many of these must-hit-by machines, if it pays $2k but on average you have $1950 into the thing, you are only making $50 when you sit down Its insanity factoring in the inflation factor. This really needs to be doubled. Quote Link to comment Share on other sites More sharing options...
milwaukee mike Posted February 18 Report Share Posted February 18 1 minute ago, FISHHEAD said: Its insanity factoring in the inflation factor. This really needs to be doubled. i would do away with it entirely for blackjack you have to win 300x your wager... but on a 10k slot, if you stick 25k in and hit 10k at the end, you lost 15k and the freaking w-2g shows a win of 10k Quote Link to comment Share on other sites More sharing options...
mikeman Posted February 18 Report Share Posted February 18 22 minutes ago, Jimmy Hoffa said: Reps. Reschenthaler, Titus urge IRS to raise reporting threshold for slot machine winnings BY DAVE KOVALESKI | FEBRUARY 13, 2024 U.S. Reps. Guy Reschenthaler (R-PA) and Dina Titus (D-NV) expressed their support for a recent recommendation made by the Internal Revenue Service Advisory Council (IRSAC) on reporting slot machine winnings. © Shutterstock The IRS Advisory Council recommends increasing the reporting threshold for slot machine jackpot winnings to $5,000, to account for inflation. “We urge you to follow the IRSAC’s recommendation and exercise your authority to raise the threshold for slot machine jackpot winnings to $5,000 and to consider periodic increases to the threshold based on inflation. Taking this action will align with the IRS initiative to strategically use data to improve tax administration and modernize tax reporting for our constituents,” the lawmakers wrote in a letter to IRS Commissioner Danny Werfel. Reschenthaler and Titus are co-chairs of the bipartisan Congressional Gaming Caucus,. Under the current IRS policy, slot machine jackpot winnings of $1,200 or more require a W-2G tax form. However, this threshold has not been updated since 1977, despite a substantial increase in the number of W-2G forms filed each year. Due to inflation, the lawmakers said this outdated standard has significantly increased compliance burdens on taxpayers and operating costs for casinos across the country. Last year, Reschenthaler and Titus introduced the Shifting Limits on Thresholds (SLOT) Act, which would raise the tax threshold for slot winnings from $1,200 to $5,000. The IRSAC now supports this recommendation. The proposed change has the support from the gaming industry. “The antiquated slot tax threshold creates unnecessary burdens for consumers, casino operators and the IRS,” American Gaming Association (AGA) President and CEO Bill Miller said. “The AGA commends Representatives Reschenthaler and Titus and other Congressional leaders for their dedicated efforts to modernize this long-outdated policy and join them in urging Commissioner Werfel to raise the threshold.” I've been seeing talk of this for the last 10 years, problem is it's only a priority for gamblers and no one cares about us. Quote Link to comment Share on other sites More sharing options...
FISHHEAD Posted February 18 Author Report Share Posted February 18 Just now, mikeman said: I've been seeing talk of this for the last 10 years, problem is it's only a priority for gamblers and no one cares about us. YES Quote Link to comment Share on other sites More sharing options...
cy1981 Posted February 19 Report Share Posted February 19 12 hours ago, FISHHEAD said: Its insanity factoring in the inflation factor. This really needs to be doubled. I think I went to a casino one time in the last year and of course I hit a $1320 slot and have a W-2G. 2 offset it I sent a 1099 to Fishhead late for $5,800 in gambling losses on Juice Free to offset it. You should be getting it soon FH. Quote Link to comment Share on other sites More sharing options...
mikeman Posted February 19 Report Share Posted February 19 27 minutes ago, cy1981 said: I think I went to a casino one time in the last year and of course I hit a $1320 slot and have a W-2G. 2 offset it I sent a 1099 to Fishhead late for $5,800 in gambling losses on Juice Free to offset it. You should be getting it soon FH. You dont need proof to offset, assuming you itemize you just do it, if you are audited you would need some but that's not happening. Quote Link to comment Share on other sites More sharing options...
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