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| View Poll Results: What is your monthly average score for 2002/2003? | |||
| $ 200 or less |
   
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7 | 9.59% |
| $ 200 - $ 500 |
  
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14 | 19.18% |
| $ 500 - $1000 |
  
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18 | 24.66% |
| $ 1000 - $ 1500 |
  
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9 | 12.33% |
| $ 1500 - $ 2000 |
  
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4 | 5.48% |
| More then $ 2000 |
  
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21 | 28.77% |
| Voters: 73. You may not vote on this poll | |||
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#51
07-07-2004, 08:27 PM
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Re: What is the best way to avoid taxes?
No, it will take 17 years to get TWICE the amount of the chips in the box.
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#53
07-07-2004, 08:29 PM
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Re: What is the best way to avoid taxes?
[ QUOTE ]
I guess if a B&M player never converts his profits from casino chips to cash, the "chips" can be compounded tax free till he decides to convert. Could this be correct?. [/ QUOTE ] There is very little legal difference between the unconditional right to receive income, and the income itself.
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#54
07-07-2004, 08:32 PM
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Re: I have a question..
A man dressed in black will come to your door and tell you.
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#55
07-07-2004, 08:34 PM
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Re: What is the best way to avoid taxes?
WOW. I guess you are REALLY that stupid.
100-34% tax= 66, 1.02**17=1.40 (without taxes), 66x1.4= 92.42 (You still owe me 7.58 in chips PAL). May I suggest a search on Amazon for a basic math book?.
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#57
07-07-2004, 08:44 PM
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Re: What is the best way to avoid taxes?
I have no idea what you are trying to calculate.
I think you are trying to show that if you leave 100 chips in winnings and never cash them, at the end of 17 years, you have more than if you had paid the taxes on the winnings and invested the other 66% very poorly. Of course, at the end of 17 years if you finally cash the chips, you are back to only having 66%, you didn't magically avoid the tax. Maybe you are planning on having the chips buried next to you in your casket. That will teach em! What was the point of winning 100 chips in the first place? [img]/images/graemlins/confused.gif[/img]
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#59
07-07-2004, 08:48 PM
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Re: What is the best way to avoid taxes?
The revenue is recognized (and the owing of taxes) occurs when you cash in the chips. If you never cash in the chips, what was the point? When you do cash in the chips, next year, next 20 years, you will owe taxes (and unlike stocks you don't get a reduced tax rate for long term investments).
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#60
07-07-2004, 08:52 PM
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Re: What is the best way to avoid taxes?
Since I never knew what your point was to begin with, you really got me there!
If one didn't have to pay any taxes on anything, he would have more money? Was that the point?
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