They took withholding on the whole prize amount. I thought they may deduct the buy in but they did not.
Gross income 1862. Net 1303.40. Federal tax withheld 558.60
This is one area where seneca could improve.
This is an ongoing "disturbance" among canadian players and is a big reason why many avoid seneca events. I've tweeted @senecapoker many times to tell them how peeved we are at the way they do their withholding.
This is an ongoing "disturbance" among canadian players and is a big reason why many avoid seneca events. I've tweeted @senecapoker many times to tell them how peeved we are at the way they do their withholding.
+1. And the fact that withholding tax is taken on any/every cash.
+1. And the fact that withholding tax is taken on any/every cash.
+1 and why I won't play tournaments there any more.. It doesn't matter how bad players are, with a 30% withholding on top of rake I don't see how any Canadian player can possibly make money there long term. Too bad because I liked there staff and their tournaments otherwise.
+1 and why I won't play tournaments there any more.. It doesn't matter how bad players are, with a 30% withholding on top of rake I don't see how any Canadian player can possibly make money there long term. Too bad because I liked there staff and their tournaments otherwise.
Unless you already have significant winning from WSOP or other US tournies during the year, I still still values for playing as most of prize pools you could win at Seneca will be justifiable through other tournies' buy in/expenses.
But I do hate Casinos that withhold gross amount without minimum.
(Binion, Rio, etc would withhold for Net amount over 5k.)
Unless you already have significant winning from WSOP or other US tournies during the year, I still still values for playing as most of prize pools you could win at Seneca will be justifiable through other tournies' buy in/expenses.
Not sure I really understand what you are getting at here, but the only way a Canadian should logically be playing tournaments at Seneca is if he already can show enough losses during the calendar year so that he can get the withholding back if he "binks" one..
Any "winning" payer (and thus can't use his losses to offset winnings) would be foolish imo...
But I do hate Casinos that withhold gross amount without minimum.
(Binion, Rio, etc would withhold for Net amount over 5k.)
I think that all (or at least most Vegas and AC casinos) only withold on the net amount over 5K. Borgata in AC is an exception and as I recall the Mirage in Vegas although I believe they stopped that practice a year ago or so.
Comments
GL, let me know how u guys do and turnout was. I think I will go on Fri.
Hope tomorrow is a little bigger
Im sure the regular turnout from Western New York would have been least a little impacted.....
They have given away 35 satty entries already for Sat 1000 event.
Well run again and nice structure.
They took withholding on the whole prize amount. I thought they may deduct the buy in but they did not.
Gross income 1862. Net 1303.40. Federal tax withheld 558.60
This is one area where seneca could improve.
This is an ongoing "disturbance" among canadian players and is a big reason why many avoid seneca events. I've tweeted @senecapoker many times to tell them how peeved we are at the way they do their withholding.
+1. And the fact that withholding tax is taken on any/every cash.
+1 and why I won't play tournaments there any more.. It doesn't matter how bad players are, with a 30% withholding on top of rake I don't see how any Canadian player can possibly make money there long term. Too bad because I liked there staff and their tournaments otherwise.
Unless you already have significant winning from WSOP or other US tournies during the year, I still still values for playing as most of prize pools you could win at Seneca will be justifiable through other tournies' buy in/expenses.
But I do hate Casinos that withhold gross amount without minimum.
(Binion, Rio, etc would withhold for Net amount over 5k.)
Any "winning" payer (and thus can't use his losses to offset winnings) would be foolish imo...
I think that all (or at least most Vegas and AC casinos) only withold on the net amount over 5K. Borgata in AC is an exception and as I recall the Mirage in Vegas although I believe they stopped that practice a year ago or so.
Frst pays around 45k.
You mean $30k for Canadians.
Just card dead, got the last 11bb in on a nut flush draw in the small blind on a limped pot. Miss, miss EL Busto.
A nice tourney with the 60 min blinds and 30,000 chips.