Collection Thread #2 for "Granny Goes To Vegas!"

[GrannyMae]

[ QUOTE ]
How do taxes work in a group buy type of deal? I really have no idea. Another question, say that a group wins the lottery for an estimated 10 million before taxes. Will the total taxes on this buy be more if there is 1 person in the group versus 10 million people in the group? Or will it be the same?

[/ QUOTE ]


the answer to the tax part is something that is still being worked on and will be finalized with all of the investors if this goes off.

i can say this as a generalization. investors will probably have the choice of me paying the taxes for them and them getting the actual net, or me issuing them a 1099 after the event.

for each individual investor, they would simply decide which route they want to go *before* the tourney.

i'll be sending a private letter to all shareholders once the kitty is "closed" that will explain it all. each person will be responsible for their own taxes. if they want me to pay them and send them a net check i will. however, if i get lucky and cash BIG, my tax bracket will be higher than yours so you may want to go the 1099 route as it may net you a bit more.

as i said, all will be 100% kosher, and all will be explained privately to you guys.

hope that helps some

[maryfield48]

Mike, great job you're doing here.

I did the first share on the weekend. I even got an acknowledgement from True Poker Marketing.

I want a second share. Should I just repeat the process, in which case I will have 2 requests in, each for one $40 share? Or what?

[Mike Haven]

I want a second share. Should I just repeat the process, in which case I will have 2 requests in, each for one $40 share?

yes please - but also add a line to tell them to note that this will make your total transfer up to $80, to try to avoid any confusion

[Adde]

yes please - but also add a line to tell them to note that this will make your total transfer up to $80, to try to avoid any confusion

I've sent two emails (the last one 24 hours ago), trying to buy 2x$40, but only got one reply (after the first one). Perhaps they think I only want one share?

Adde

[Mike Haven]

That is a distinct possibility, Adde. [img]/images/graemlins/frown.gif[/img]

I'm hesitant to advise you to send a third e-mail, yet, but if you do, please make it clear that you want $80 only in total to be transferred from your account, ( not $40; not $160 [img]/images/graemlins/tongue.gif[/img] ).

The trouble is we've all been spoiled by the expertise of Party's Support, so we expect similar everywhere.

All will be well.

All will be well.

All will be well.

[Adde]

<font color="red"> Hi TruePoker.

Sorry for filling up your mailbox, but to avoid any misunderstanding, I've sent two separate emails asking for $40 Granny shares. This means I would like a total of:

2 x $40 = $80

My username is: adde1971

Thanks.

Adde </font>

[benedetti]

No confirmation email, money still in my True account.

[GrannyMae]

hi everyone,

here is a brief recap of where we are at.

as of this morning, according to numbers i got from david and mike, we are about 50 contracts short ($40 contracts. $2k total)

i need to tell david (CEO) by wednesday morning whether to buy the ticket for me.

sooo, the decision will have to be made late tomorrow night. (fear not. if this does not fly, everyone would simply get their dough back immediately)

therefore, if you have been away for the weekend, please do the transfers today and tomorrow morning.

if, by any chance, there are any of you that were unable to get a true account open, i will take a transfer from you via stars or paradise. while we did not want to do this, unfortunately we are short so it may be needed for the last few shares.

therefore, if you were not able to do the transfer via true, you can send money for contracts ($40 multiples) to me via transfer to account GrannyMae at stars or paradise. if neither of these are good either (i know some investors that want in but play NO online poker), please PM me and we will try and find a third alternative.

if you go with a transfer via another route, just make the transfer and PM me here with a quick note on how much you sent, what your username is at those sites, and i will give this money directly to david with my share. i do NOT need your full name yet if you go this route. we have a very solid plan in place to formalize this with emails when the pool is closed.

if by tomorrow midnight(tuesday ET), we are still significantly short, we will cancel and refund, or perhaps come up with an alternative of me playing 2 smaller events instead. this would be up to the investors.

i wish the deadline was not tomorrow night, but david is doing a really great thing by putting up the $10k for us, but he is buying the tickets wednesday so we need an answer.

the support has been AMAZING, so i can't imagine that gettting another $2k in investments between now and midnight tomorrow will be too difficult.

fingers crossed!

[Ro-me-ro]

Request for a share was sent 05/22 @ 18.12 GMT but still no response.

Should I be concerned about not having the funds transferred yet?

Ellis

[GrannyMae]

[ QUOTE ]
Request for a share was sent 05/22 @ 18.12 GMT but still no response.

Should I be concerned about not having the funds transferred yet?

Ellis

[/ QUOTE ]

rut-roh

while this won't surprise many people, i actually have no idea how the truepoker part works. i've been taking only stars xfers [img]/images/graemlins/wink.gif[/img] and mike handling the rest.

he will be here soon ellis and will give the answer.

sheesh, how embarassing that i don't even know how to answer much less check.

oye