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Thread: Would you play this game D Schles

  1. #14
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    Quote Originally Posted by DSchles View Post
    And so, you're happy adding another 9% to the bill??? Who would be dumb enough to want to do that?

    Don

    Quote Originally Posted by Eye of the Eagle View Post
    I was just wondering if the TAX would be to much to overcome. I have never declared winnings ever so if that helps.

    This leads me to believe OP is not claiming his winnings on his US tax returns, and if so, is not making the "donations" to Uncle Sam, and if so the 9% Mexican tax would be less than US income tax...albeit depending on how the Mexican tax is calculated.
    Last edited by Wave; 02-16-2020 at 12:47 PM.

  2. #15
    Senior Member JBourne's Avatar
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    Quote Originally Posted by CEO1 View Post
    Is it a 9% tax on everytime you win a session or for the entire trip. Do wins and losses offset?
    That's a really good point. If it is session based, you have to consider what happens over multiple sessions. I'm sure they are not giving you back 9% of your losses, so if you are getting taxed when you cash out that's probably going to wind up being a lot worst than 9% of net profit.

    Personally, I want to avoid foreign tax rules wherever possible. I would also worry about who gets upset with you if you happen to get backed off. Just thinking back to the old days in Vegas.

  3. #16


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    Quote Originally Posted by Eye of the Eagle View Post
    In Mexico, PV. The game is 6 deck H17 DAS spilt to 4 hands 1 card one ACES, Surrender, 3/2 BJ hand shuffle.
    One pass shuffle?

  4. #17


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    You guys are looking at it all wrong, based on brief explanation of OP. The 9% cash out tax applies regardless of whether you win or lose, exclusive of expenses generated to win or lose. Further, the 9% works out to be much more if you don’t cash out correctly over multiple sessions. You will have to overcome the 9% “cash out tax” with your 1-2% gross margin - not very inviting.

    Tax payable is Your marginal tax after all expenses, and payable only if you win. No different than a commission salesman reducing income by expense. Further, your winnings are going to be in the range of your expected value which will range likely from 1 to 2%.

  5. #18
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    Quote Originally Posted by Freightman View Post
    The 9% cash out tax applies regardless of whether you win or lose, exclusive of expenses generated to win or lose.
    Well, if that's the case, then nothing more need be said...but OP said: "there is a 9% Mexican Tax on winning"...not win or lose.

  6. #19


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    Quote Originally Posted by Wave View Post
    Well, if that's the case, then nothing more need be said...but OP said: "there is a 9% Mexican Tax on winning"...not win or lose.
    It’s a topic that has been brought up before. I may be wrong, but tax is payable on cash out with no allowance for amount of buy in. Therefore, you want a profit right off the back with as low a gross total buy in as possible, cashing out only once when it’s time to go home.

    Hopefully you’ll have a profit, and casing out once only, minimizes the tax payable to a max if 9%.

  7. #20


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    Quote Originally Posted by bjarg View Post
    One pass shuffle?
    One pass

  8. #21


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    Quote Originally Posted by Eye of the Eagle View Post
    One pass
    The 9% tax is on winnings? Or on every cash out? Sorry if you already cleared this.

  9. #22


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    You only pay tax on winnings not on your buy in. A players card is required. All chip bought are recorded on the card. In order to cash chips you have to have a players card. One time a couple of years I was with a friend he lost $300 on his card. I won $250 I gave him my chips to cash and no tax was paid. You will pay tax everytime you cash. You could hold on to them and not cash until the end of the trip that would work. Cashing on every session would not. Win $100 cash in, Loose $100, Win $100 next day cash in. You just paid $18 in tax for 3 days. If you held the chips for 3 days your reduce it by 50%.

  10. #23
    Senior Member Goatlife's Avatar
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    One time 10 percent would work. Any luck on getting them to raise the limits . Can u lock up a table and play all 6 or 7 spots

  11. #24


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    So if I buy in for $1000 and I cash out $900 I pay 9% of $900?

  12. #25


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    Quote Originally Posted by Goatlife View Post
    One time 10 percent would work. Any luck on getting them to raise the limits . Can u lock up a table and play all 6 or 7 spots
    Don't know. There are only 2 tables.

  13. #26


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    Quote Originally Posted by bjarg View Post
    So if I buy in for $1000 and I cash out $900 I pay 9% of $900?
    Example buy in for 1000 pesos cash out for 1100 pesos you pay 9 pesos in tax on your winning which was 100 pesos.

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