[mtgordon]

For the record I know very little about the whole tax issue. One that I do know is that you don't just declare your profit, you declare your all of your winnings and deduct all of your losses. So in the end I beleive it will have basically the same effect.

Now on to the point of your post. If all the above is true, it is still a question of EV. Just look at it from this point of view: Would you enter the tournaments if it only cost you 6.5k instead of 10k or is that still a losing proposition for you.

Just because something is half off doesn't mean you should buy it.