Do I have to pay tax on gambling winnings If I am a foreigner on vacation to the US?
If a person who is not a citizen of the United States, travels to the US and wins say $20k gambling in vegas, would they be required to report that and pay taxes to the US?
for what reason do we have to pay taxes on literally everything (even gambling winnings, which to me is just stupid) but other people are exempt from it because of some title they hold?
I live in Nevada. This past year I was a full time student and worked for the school for 9 months, 10 hours a week. My income from that was around 16k. Also last year I spent way more than 10 hours a week for 9 months playing poker. I have about 20k in W-2Gs from that, but when counting losses, my net profit was only around 5k. It's my limited understanding that if you have a job then you have to pay taxes on gambling winnings and can't deduct your losses, but if you file as a professional gambler then you can deduct your losses and also deduct business expenses, though you have to file self-employment taxes. Some years ago I was a full time poker player and filed as such, but I had a gambling tax accountant do my returns for me. I'd rather avoid his fee and just do things myself. I do have copies of the prior returns so I can somewhat work off those to do my own return. FWIW I do have complete logs of every session as well as my relevant poker-related expenses, including a mileage log for my car. Any advice on how I should file?
Yes, this is another tax thread. These are the direct answers I received from my CPA who has 25+ years of experience filing for gamblers, both professional and not. Don't shoot the messenger. Do I report winnings gross or net? Surely net, right? Right!?? Winnings are reported on a gross amount. If you open an app and it shows a ledger of $30,000 winnings, $28,000 bets wagered, Win/Loss $2000, the IRS needs the $30,000 number. The $28,000 gets reported on a Schedule A under gambling losses, and only factors into your net tax liability if you itemize. But isn't sports betting on an app just one long session? I don't pay taxes on every hand of blackjack I win. No. Unfortunately this matter relies on case law, for which the precedent for online gambling is an "every bet is a session" accounting. So if I don't itemize and I have huge gross winnings, that means I could owe thousands in taxes? Yes. If you have thousands in gross winnings and didn't plan to itemize, you will essentially owe taxes on the difference between your standard deduction and your pre-gambling itemized tax amount when switching to an itemized gambling loss deduction. If I report net winnings instead of doing it by the book, what are the odds I get audited? Almost zero. Obviously my CPA didn't advise me to do this, but of the thousands of filings she had done in her career, she has only had 3 audits, and all of them were due to inconsistencies on a Schedule C filed only by professional gamblers. She also said that due to COVID delays, the odds of getting audited are even smaller. Are there any other hidden downsides to having an inflated Adjusted Gross Income when I have gross winnings of tens of thousands of dollars? Yes. Student loan interest deductions and child tax credits go away at certain AGI. On the state tax side, she said certain states don't allow ANY deduction for gambling losses on state taxes. I.e. if you live in IL, you probably just shouldn't ever gamble. Every bet you win comes with a 4.95% tax on gross winnings. If your state doesn't allow gambling loss offsets, there is no limit to what you could owe regardless of your year-end profitability.
I wrote a long reply on why gambling, and loot boxes in particular, are bad...
So, inside some other post, I was asked why gambling is bad... My reply ended up being really detailed, so I'll promote it to a post of its own (just copy-pasting it here; no new words)... [Note: list of 3 points about loot boxes at the end...] (I work at a company that sells gambling services... I see how the sausage is made...) By the way, I love PoE and GGG. Still, loot boxes are bad. I personally get to see the statistics side of oddsmaking. It's always about suckering you out of your money, because by definition all you are doing is paying more money as the price of getting less money (on average), but you also need to feel like you have a chance at getting the upper hand, even though in the long run you don't. For example, sometimes, if you're really "good" at betting, you just end up working for the oddsmaker on a bad deal. It's really hard for them sometimes to get the odds perfectly right (although the profit margin still takes care of 99.9% of punters). So, if you're a professional gambler making a regular profit, what's basically happening is that you are investing an enormous amount of time and expertise to try and make tiny profits at the margins, and the bookmaker monitors your activity and learns about the market from you, at what ends up being a lower cost than if they hired experts to give them the same info on a salary. Plus you constantly run high risks! Which is why my company is full of ex-gamblers who were able to make a profit for a while, and intelligent enough to realise that they were still getting a bad deal, and come to the company and offer their services directly. (For another way gambling companies guarantee their own profits by passing on the risk to gamblers, research "balancing the books": yes, a professional gambler could make some profits this way, but if you're possibly making profits by taking on a risk that a large gambling corporation wants to get rid of, do you really think you're getting a good deal, especially considering how much time and expertise you sink into the activity? EDIT: more info) The only way I know of to make a consistent and considerable profit off gambling is when a pro gambler is allowed to make a profit off other gamblers, in a move that a company makes to increase total amounts played. So, for one person to profit, many others are being seriously scammed, and the company is safely skimming its percentages off the top. There are many different ways a gambling company presents bad deals to you, hoping that your intuition misfires about one of them and you decide to throw away your money. Examples... There are single bets, of course. But then there are also combinations, and these screw with your intuition--you can convince yourself based on a narrative (e.g. team 1 wins first half, team 2 comes back in second half), where in fact the actual hard cold odds are against you. There is "cash out" where you take a fraction of a likely-seeming win early (but at a loss), which of course simply taxes you for your risk aversion. There are "systems", creating more and more complex bets, until you convince yourself you've set up the perfect deal, and yet the company's profit margin keeps growing the more complex you make it. Anyway, those are the parts I work on as a software guy. (By the way, this isn't the worst thing in the world, it's not as bad, as, say, the military industry or the military itself, or say religions or banks, because at some level gambling is voluntary. And making gambling illegal is a terrible idea-we should fight it through education, not prohibition. Still, I only work there because I'm currently a completely non-creative software grunt (and currently satisfied with that). If I get to the point of pursuing higher-level jobs, I'll look elsewhere.) But the most nefarious part of all is the psychological work they pull on you. That's not my area of expertise, so if you want it explained you need to look elsewhere (recommended book: Thinking Fast and Slow--it's not about gambling, it's about psychology). They are constantly doing things to 1) give you false hope and 2) artificially trigger some pleasure response in you. E.g. most people are naturally risk averse and loss averse, e.g. losing $10 brings more pain than winning $10 brings pleasure. In reality, a gamble is about paying, say, $10 to win an average of, say, $9, so that's a terrible and painful deal. In addition to all the advertising and bright colours and encouraging sounds and making you read success stories and all the other psychological manipulations, they can also straight up befuddle you with numbers. So, losing $10 brings more pain than winning $10 brings pleasure, but what if you pay $10 but you're not really at a risk of losing that much, because on average you win $9 back, so you're only really risking a single $, and yet if you get lucky you won't win a mere $10 but millions? Suddenly that sounds good, right? Risk $1 to win $10000000? Of course not: you're still risking $10 and taking $1 losses on average each time you play, and the high rewards are vanishingly rare and built into that average. That's it about gambling for money. On loot boxes I'm no expert, but, beyond the basic problems (encouraging addiction, exploiting minors who beg money from parents and don't understand how they're throwing it away, generating gambling "pleasure" while giving you "bits" instead of any real value, etc), I can point out a couple of extra scummy aspects:
They can say "the box costs 30 points but all the possible rewards are worth at least 50, the average reward is worth 70 and the best is worth 400"... really??? Those prices are completely arbitrary... Who says the footprints are "worth" 50 or some random hideout decoration is "worth" 200? Talking about average microtransaction point values in a loot box is completely misleading.
Either you (a) lose on the statistics of getting complete sets or you lose on (b) being psychologically manipulated into buying extra stuff you didn't actually want so much (or (c) you just lose by getting useless stuff). Let's say you decide to pick up a couple of boxes and see what you get before buying more stuff. You might just get useless stuff, of course (case c). But what if you get the body armour or wings? Now you might say "I'll get more boxes to complete the set". But the chances of getting any one part of a set are not anywhere near as bad as your chances of completing a set (like map lab trials, but much worse because loot boxes contain many more items), so you are getting totally fleeced (case a). Alternatively you could go "oh look, I got x in the box, I'll buy matching items y and z from the shop later" so you think you got x cheap and y and z at normal prices. But you are being manipulated into buying y and z. Would you really have bought x and y and z from the shop if there had been no loot box? Only rarely. The rest of the time you are overspending (case b).
Loot box gifts are another scummy behaviour, considering people don't have good intuitions about statistics. Most of us get bad results from the gifted boxes, but some will get lucky. Those of us who are already gambling on loot boxes won't be affected by the outcome of a few extra boxes. Those who wouldn't ever buy them normally, and get bad results, who cares. But those who wouldn't normally buy them but get lucky a few times in a row might decide it's a good deal after all. So, it's manipulating us psychologically in a way that is statistically designed to fail at no cost most times and succeed sometimes, which makes money. (While also giving everybody holiday presents or race prizes, making the company appear generous.)
Well, I’ve seen a ton of posts on here recently about taxes. Everyone arguing about who is right, who is wrong. The constant “that’s dumb. Nobody would gamble if they did taxes like that”. Well, I filed my taxes last night. Everyone saying that you report total winnings as income and report losses as a deduction is correct. You do NOT claim net winnings. I don’t care if “FanDuel’s app says net winnings”. I used Credit Karma to file. In the income section it specifically states “Gambling Winnings (excluding losses)” in the deductions section, it asks for “Gambling Losses”. This is where you report your losses. So, if you won $5k, you report all $5k as income. If you lost $4500, you report that in deductions. You will then pay taxes on the $500 net profit if you can itemize. YOU DO NOT PUT $500 IN THE INCOME SECTION. As we all wondered, unless you have enough deductions to actually itemize, you’re stuck paying taxes on all of the winnings and your losses get lumped into the standard deduction. Not here to argue or get into “dude, you’re wrong and stupid” back and forth. I’m not wrong, I’m correct. If you do not believe me, file however you would like to and hope the IRS does not come knocking. Happy tax season y’all.
Spending 10% of your paycheck on failing lotto tickets for the rest of your life would still be a more worthwhile investment than spending it on tithe
This is probably like a common knowledge kind of thing for this community, but I really wanted to dig into it more than a cynical look at it. As is common tradition, Churches usually advertise(read: enforce) tithing. Akin to like a second tax, the congregation is encouraged to pay 10% of their paycheck(we'll use take home for ease of argument) to the church for tithe. Now tithing is usually given the connotation that should you tithe, God is going to "reimburse" you in some way. Most people give tithing credit for "blessing" them with a better paying job. An example would be NFL Raiders Quarterback Derek Carr who paid a huge tithe to his church. So it stands to reason than many church members will tithe in the hopes that God will "bless" them with better living. What bugs me is that most of the "blessings" these people get would most likely have happened without church or tithing regardless. The difference would be is they could've put that tithe into their savings and have a bigger savings account. Now the lottery can have a bit of a bad reputation since it's essentially gambling, and a gambling addiction can be crippling and a severe problem. However, I sat and thought about how much the tithe takes out of one's paycheck vs a $2 (USD) lotto ticket. So let's say you make $24,000 (USD) a year. 10% of that is is $2,400. Let's also say the "average" jackpot is $1,000,000. Again for sake of argument, we're going to ignore the smaller and larger prizes. 1,000,000 divided by 2,400 is 500. So it would take roughly FIVE HUNDRED years of FAILED lotto tickets for the funds to outweigh the worth, at least in the case of comparing to tithe. Specifically FAILED, because within your life span; if you consistently spent 10% of your paycheck on lotto tickets, you could win the jackpot. But spending 10% of your pay to those charismatic megachurch pastors to help furnish their private jets and lavish mansions literally benefits you in NO WAY. If the church you pay tithe at is actually genuine in helping impoverished communities, then I would compare that to donating to charity. Which goes against tithing in hopes of reaping some kind of divine "blessing" So please, put that money in the bank, or buy a lotto ticket. Stop making charismatic liars rich. Or do, I can't make you live your life.
I'll add other people's pledges here. global-employment91 - give out 20 subs (foot long) to the homeless whatsaquesarito - home gym & 500$ for habitat for humanity SwipingSwiper - lunch for friend & 25$ to wildlife charity alredopie - pay parents back 👍👍 evilvyse - giving $$ for his parents kitchen remake NotLiam19 - he's not fucking selling Geronimo-Rocket - Contributing to kids college fund 🎓🎓 Bananaman1229 - fund entire 22 month MBA programme WadeWade05 - buy lego millennium falcon & donate 100$ to defenders of wildlife Intelligent-Farm6180 Pay off mom's mortgage Tastyycakes - $1000 donation to Charity Water. Followed by a cigar & some Sam Adams. Then service the wife MeCarllChan56 - come clean to parents about his Robin Hood 'savings' Sgt_Frag - jerk off for two days straight nam_jones2004 - 911 Turbo with custom white leather Shorter_Mcgavin - let happy gilmore beat him & give his granny her house back Alles_long - $1000 to Charity One_crazy4535 - have a cry (happy) wank Onewithape buy a PSHT foam meme core sign to accompany his GME sign in the office Sarftmfb - buy property in South Beach margintraderxyz - tuna footlong from subway Tellmetheods - pay off dads mortgage and seed funding for his ideas sben10 - home gym and down-payment on a house geomanis - $10000 sponsorship to support low income students to study IT at university ironbassel - enough to pay off home in full floev2021 - build a home for a veteran with a family currently renting PoorMelminMarketing - donate 1k to his sister and brother in law adoption fund and 1k to adoption charity of their choice wrinkledpenny - Post pic of wife's tits. Then give some money to his parents and in laws because they are awesome noiz626 - take gains and put into Bill's new spac OverlyAverageJoe - go to Vegas, get a mound of blow & 2 hookers. Play craps for the some time and get crabs again BiscuitReadit - retire at 65 p640 - 1. donate subs and $ to the poor. 2. Not be obsessed with looking at his stocks. 3. Buy more stocks and break number 2 Original-Shop-9341 - buy his daughter an insulin pump RenaissanceZman - buy mom lots of lululemon & dad arctercyx jacket loopdieloop - donate to local food pantry. Buy bro some land and small house . Pay off morgage ssschaib - get back gme losses AbuZac - buy $8.5k electric Mountain bike alex21turner - 10k to charity, buy first property and porcsche if anything left HempPaper - take family to Disney world InverseInception - donate to local children's hospital & down-payment on a house Meowsii - buying engagement ring 💍 chasinggreatness - also buying engagement ring 💍 Ism29 - will shit himself idubbykny - yolo into next opportunity Freshatz - will stop bringing his phone to prayers NomadicDolphin - name his future dog afrer the merger. And give food to homeless in a zebra costume yeetlord123661 - 100$ to his local zoo, with a focus on the zebras Buckeye_browns - pimped out Minivan with ramp for his 4 year old with cerebral palsy 🙏🙏 ChiefDewy - drinks with the boys who are also in PSTH _Blaker - buy a car and pay his taxes Unclelexxx - buy a small but profitable business (subway) HedgeFundCrook - drop 20k on stocks NPIRACKS donate 10% to charity gamerrebuilt - print and frame 2 pics of Bill. One at work and one at front door flyfireyguy - yolo 2k on baccarat and if wins donate to charity thatdudenute. - 1k donation to girl in car crash with Andy Reid son. 1k donation to local school. 1k donation to friend in need. Save for c8 corvette CracknGambling - much needed dental work in mexico jcarino7 - gofund me for homeless to buy food - he will start with 1k donation Draffut40 - Build granny flat for family & rent it cheap Warmunderstanding447 - rehire nanny Foulbovine - finally tell his boss to stuff it diorgasm get an audi q8 and donate 20k to local cat shelter Honeyincoffee - donate more to charity and pay for school semester always_plan_in_advan - donate 1k to a charity of this subs choice (with proof) . Company match another 1k Tubby94 - build high end pc and yolo the rest Pomelo-blogga - give mom down-payment to buy a condo and give friend 1k in 5$ bills as a joke
Greeting Theta Gang boys and girls, I hope you're well and not bankrupt after last week. I'm just now recovering mentally myself. I saw a few WSB converts and some newbies asking for tips, so here you go. V2 of my Options guide. I hope it helps. I spent a huge amount of time learning about options and tried to distill my knowledge down into a helpful guide. This should especially be useful for newbies and growing options traders. While I feel I’m a successful trader, I'm not a guru and my advice is not meant to be gospel, but this will hopefully be a good starting point, teach you a lot, and make you a better trader. I plan to keep typing up more info from my notebook, expanding this guide, and posting it every couple months. Any feedback or additions are appreciated Per requests, I added details of good and bad trades I made. Some painful lessons learned are now included. I also tried to organize this better as it got longer. Here's what I tell options beginners: I would strongly recommend buying a beginner's options book and read it cover to cover. That helped me a lot. I like this beginner book: https://www.amazon.com/dp/B00GWSXX8U/ref=cm_sw_r_cp_apa_OxNDFb2GK9YW7 Helpful websites:
Tasty Trade (TT) and Ally Invest have helpful articles and videos.
ITM: In the money; strike is below stock value. Signif
ATM: At the money; strike is just at or above the stock value, often very highly traded. Can be very effective with moderate - long term expiry.
NTM: Near the money; strike is above the stock value, but fairly close. Slightly unofficial term.
OTM: Out of the money; price is at least a few strikes from the current stock price. I would say 10-30% over stock price.
Very OTM: Not a real definition, this is essentially a lottery ticket. Cheap, but almost certain to expire worthless unless there is explosive movement.
Understand delta in general and how delta changes with ITM and OTM options.
IV, IV crush, and how IV affects pricing. In general, you want to sell when IV is high and buy when the IV is low. Increasing IV is good for held calls/puts. IV drop or crush is generally good for sellers.
Selling options can be quite beneficial. Once you have a good general understanding, lookup thetagang . Kamikaze Cash has good youtube videos on most theta strategies (linked above). I personally believe selling options (especially cash secured) is much safer and can consistently make you profits. Θ Gang 4 life.
FOMO and how to avoid chasing a dangerous trend. DO NOT CHASE FROM FOMO!
What intrinsic and extrinsic value are. Know how they are affected by being exercised/assigned and how theta affects them.
Understand that some of WSB recommendations are straight up high-risk gambling and factor in the information accordingly. Be careful with Meme stocks and the survivorship bias on YOLO plays. However, I love the sub and think it’s hilarious. It has a lot of valuable information / DD if you are comfortable with the “colorful” language. It’s also great if you like rocket ship emojis.
Basics / Mechanics
Understand the 4 "main" option types. Buying or selling a call and buying or selling a put. Spreads and more complex multi-legged option strategies are based off these in some way (see below)
You can sell calls with 100 shares of stock or if you own an underlying longer term option; see LEAPS and PMCCs later. Selling calls naked is incredibly risky and often requires Level 4 (very advanced) permissions and usually a lot of capital. I will literally never sell calls naked since I don't want to ruin my life and end up living in a dumpster eating saltine crackers.
Puts can be sold/written cash covered (cash secured), which means you have the cash in your account to buy 100 shares. Your broker will put this money on hold until the trade is closed. Puts can be sold "naked" using Margin and Level 3 (with most brokers). Your broker will hold a percentage of cost of 100 shares (often 30-40%, 100% on meme stocks) allowing you to sell more puts. This increases your available capital/power as well as increasing risk.
General Tips and Ideas:
Don't EVER leave (short) spreads open on expiration day, close them. (more details below)
Start off trading very small. Slowly build up over weeks / months. You need to get accustomed to a fifty dollar swing a day, then a few hundred, then a few thousand. You need to ensure you don't get emotional (see below). I started trading options with 5k, then 25k, 50k, and later over 100k. I added my own funds over time and used my gains to build my account. Don’t go all in immediately, that’s dangerous and unwise.
Especially as you build up the amount of money you have invested, keep it diversified among several stocks.
Don't go all in on one thing, ever. Be able to take a hit from one stock and not mortally wound your portfolio.
A company may be doing great, then there's a major product issue out of nowhere. If you are overexposed in one stock this can really hurt you.
I had to roll options I sold that were about to expire completely worthless because FDX's CEO changed and the stock took a hard dip.
Don't trade emotionally. If you realize you are emotionally trading for vengeance, you should probably exit the trade and cool off for several days with that stock. Same if you get caught up in a wave of hysteria.
Have a plan for every trade, ideally with entries / exits that are specific values, ranges, or a set condition. This helps remove emotions. This is super important for strong movements and high volatility (see later).
Use an options profit calculator from your broker or an online one before entering a "new" trade, especially a complex multi legged trade: https://www.optionsprofitcalculator.com/
“Rolling” an option: Closing your existing option and opening a similar one at different strike and/or expiration.
Rolling a call “Up” would be selling a call you own and buying a cheaper call at a higher strike.
Rolling a put “Down and out” closes your original one and buying or selling one at a lower strike at a longer expiry.
Better broker interfaces have a literal “Roll” button. I know E-trade does. You can manually do it by selecting relevant contract legs.
If you have a losing trade, re-evaluate it. If your initial assumption is definitely incorrect, close it. Don't stay in losing trades forever and lose the entire value of the option over stubbornness. If you re-evaluate and you think your assumption was right, hold, potentially consider adding another cheaper option (or buy another call / put). Rolling out sold options can help here.
Don't try to day trade, especially with options. It's statistically unlikely to be profitable. Day-trading with options introduces extra liquidity risks and is dangerous, especially with spreads.
Try not to over-trade, you'll likely mis-time the market over time. When I get emotional I over trade, then lose additional money on wash sales. If you scale your entries into positions it should help alleviate your desire to exit positions when they turn badly against you. Whenever I buy calls I do it at larger increments after W almost made me loss my hair; luckily it eventually came back.
NEVER enter a position on a stock you have no idea about, especially when you read about it online or heard about it from some rando.
At market open options contracts are often volatile and inflated. Buying during this time can be more expensive. Options are usually cheaper mid-day, I read somewhere 2-3PM is cheapest. I’ve had success around 12-1PM EST after prices settle.
Try wheeling on cheaper stocks once you get all fundamentals down.
When selling puts if you are very bullish consider "doubling down"; note this is higher risk. Use the credit from your put sale to buy shares or a cheap call. This can be roughly inversed with puts, except I wouldn't ever recommend shorting shares.
Learn from your mistakes. You can’t go back in time and beating yourself up (to a point) is useless. Make a physical &/or mental note of it so you don’t do it again. If you don’t learn from it, then beat yourself up so you won’t do it again.
If you have friends that like to trade, I find it helpful to discuss strategies and planned plays. I talk openly with my close friends about my current holdings and planned trades, it helps keep me accountable. If I get a wide-eyed look, I might be doing something excessively risky or stupid. I’ve over-leveraged myself in calls twice and I knew I shouldn’t have done it both times. When I tell my friends what I did and I’m embarrassed, it exemplifies the face that I shouldn’t have done it in the first place. You will also get ideas for new strategies or plays from them. It’s good to stay versatile and use multiple strategies when appropriate. Beware of group think/echo chambers.
I recommend NEVER telling someone what to buy/sell and when. I’ll tell people MY plays or what I like and why, but I will not encourage them to emulate what I do. Depending on the audience, I’ll tell them my exact positions along with my exit and entrance strategy. With closer friends I’ll offer my thoughts on their trades (if asked). If my friend is doing something really risky (one of my friends does some scary stuff) I may ask them if they want my advice, and provide it, especially if they overlooked a risk/event. I will not encourage someone to execute/enter a trade since it has a high potential for hurt feelings or animosity all around.
Don’t fall in love with a stock. Just because something made you money before and you have high confidence in it doesn’t mean it will keep performing. I joke that FDX betrayed me when it started dipping and losing me money. I was over-confident of its bounce-back and sold too many puts too quickly. I’m in several losing trades because of it. However, I will keep good stocks in my rostetracking list or try different strategies or re-enter trades when they change their behavior.
As you start to both buy and sell options and get more experience in general, you'll start seeing the two sides to every trade. You will likely start adjusting your strategies or trying new trades out because of this. Things will likely click one day. Most/all the greeks and options concepts will become almost second nature. For me this was when I could build an Iron Condor from scratch, which was a watershed moment involving a good understanding of many strategies.
Understand Liquidity and volume.
Trading in low volume, low open interest contracts results in wide bid/ask spreads and difficulty having your contracts filled. Look at all the data for a contract, not just the strike and price.
Monthly Expiration dates typically have better liquidity.
Multi-legged trades (Common examples are 2-legged vertical spreads or 4-legged iron condors) have more difficulty being filled, especially on bad brokers like Robin Hood. Having very liquid options for all legs is extremely helpful in obtaining timely and well-priced fills, which maximize your potential profits.
Time in market vs timing the market:
It is extremely difficult to time the market perfectly. If you wait for the perfect opportunity forever, history has proven you will miss out on gains. Keeping all your money out of the market has proven to be ineffective. Now if there is something serious happening with a stock/the market (like say a new pandemic), don’t go all in. I recommend entering incrementally at dips. If the stock has huge upside potential it may never go down, so it might make sense to partially enter at the current price.
IMIO selling puts is a great strategy to get into a stock you like, or at least make money off it. I think buying stock in lots of 100 is usually for suckers. Selling an ATM or ITM put (assuming the math works out) on a stock you were going to buy and hold is ALMOST free money.
I recommend keeping some cash available regardless. If you have a very large account or expect a downturn, hedging with indexes like QQQ, SPY, or VIX or calls/puts may be wise.
Every trade can't be a winner. You will take some losses, you must get used to it. I don’t like having a realized loss of 1K or more on any trade. However, this will happen, especially with larger accounts.
As long as you win more often and beat the S&P that year I consider it okay. I’m kind of aggressive, so I consider 20%+ annually good. 30%+ annually is great. 40%+ and I’m dancing. After trading options I am almost baffled by my old belief that 5% annual returns (mostly from dividend ETFs) was “good”. That’s nothing to me now since I’m willing to take risks. Note: While lots of people danced in 2020, realize that’s an insane Bull Run year and is atypical.
Adhere to your own risk tolerance and never over-extend yourself, especially with margin use. Don’t make huge gambles leaving you uncomfortable. Only gamble with money you are willing to lose.
My personal strategy is to make safer gains for the year and then enter slightly riskier strategies using those gains. I can be slightly-moderately more aggressive and compound my gains. For me I often sell puts to make money, then when I see a big opportunity I’ll sell a put and buy an OTM or moderately ITM call.
Understand it’s not safe to try and get rich overnight. However, once you hit big “steps” things may start to snowball. You can enter more positions and take more risks if you choose to.
For me this when I hit 50k, then 100k. I was able to balance low and moderate risk positions to more significantly grow my account. I’ll even do a high risk thing now and again because my gains can absorb it (assuming I have them).
I can’t wait to get to 250K, then 500K. I know it’ll take quite a long time, but I am confident I’ll eventually be able to have 500K and (hopefully) 1M in my non-401k trading account with gains and additions from my job. I can only imagine how “dangerous” I will be with that kind of capital.
If you missed "the next big thing" like AAPL, TSLA, or the time machine I’m building in my basement. Don't get upset, learn from it. Adapt and become a better trader for next time.
Figure out why a company was so promising, before they mooned. Determine how you would have traded differently in hindsight. Apply those lessons to the next company you believe has long term growth prospects.
For me that's putting in 1-2.5k towards shares and/or buying LEAPS on it. Depending on my bullishness I may buy “cheap”, fairly far OTM calls. The far OTM options are sort of lottery tickets. If I'm right the (relatively) low cost will have explosive profits; if I'm wrong, they didn't cost that much so it's a calculated loss I’m willing to accept. For more serious bets I’ll buy ITM LEAPS to run PMCCs on. I also like to buy 1-2K in my 401k for very long-term plays.
The stock market hates uncertainty, it seems to crave the status quo. A shakeup can potential tank a stock, even if it's nothing. With shares you can wait it out, but this can be problematic for options. If you see volatile/uncertain times ahead (politics, disease, manufacturing, earnings, etc.), you might want to reduce your overall portfolio risks or hedge.
Profit Retention / Loss Mitigation
If selling options, it is a viable strategy to close early after a large gain with many DTE left until expiry. See TT videos / strategies on this.
Don't hold options through earnings unless you literally want to gamble. I like playing on earnings run ups, but that can be risky.
If you hold options through earnings, IV crush will happen immediately afterwards, devaluing the option. However, if the option is profitable enough, IV crush won’t matter, which will still make money for a call buyer. A sold put sufficiently far OTM will benefit from IV crush, even if the stock dips after slightly bad or lukewarm earnings.
Don't throw good money after bad. Don't gamble on a recovery if your assumption appears to be wrong or the market is flat out tanking. If you are wrong and still believe in the company, wait twice as long as your original plan (wait for your 2nd entry point vs 1st) before adding to your position.
Consider using stop losses to lock-in profits on rides up or sometimes use them to prevent losses. Note, stops can be easily triggered in volatile options. Now when I'm up a lot on calls (especially around earnings or large momentum run-ups) I always set stop losses. I have been burned too many times. In December 2020 I didn't set a SL on several thousand dollars of FDX calls I was already up on and I "lost" ~$5K of unrealized gains. If you're up big, don't get too greedy.
A possible strategy if a stock is on a tear and you have multiple options open: Close some positions (I prefer to do this incrementally if the stock has momentum), but leave 1+ open in case the stock goes into outer space/the floor. Next, set a stop loss with a little buffer below its current movement / range so it doesn't get hit unless the stock falls hard. Finally, watch the stock closely and if it keeps rising, keep moving the stop loss up in little bits incrementally. This will let you keep more profits on a hot streak, but give some protection and secure more gains. It will also help eliminate FOMO if a stock exceeds your expectations.
Have rules when to roll out, down & out, or up & out. I like TT’s roll at break even or at 1x loss and to always roll for a credit (or for me a very minor cost). Obviously these rules need some monitoring. Know your stocks, the news, and technicals so you don’t jump the gun.
If you roll early for a credit and you’re right, it’s not the end of the world. You’ll just need to hold longer, which will obviously tie up capital. Sometimes it’s better to tie up some money (especially if you aren’t paying interest) than eating a huge loss.
Rolling too late can be worse though. I currently have a very underwater FDX put I sold that is over 2x loss, rolling it does almost nothing unless you want to pay a debit or extend it extremely far out.
On huge options gains, I strongly you recommend taking profits by rolling up/down or incrementally sell your contracts at several different prices (this is why having multiple contracts is nice).
Rolling up involves selling your initial call, then using a fraction of your proceeds to buy a cheaper, further OTM call with the same expiry; puts are inverse this. When rolling up I like to ensure the new option’s cost is 15-40% of my realized gains. I’ll buy a more or less expensive new optoin based on my convication to the stock and predicted movements. You can also roll up and out to get a further expiry and strike.
This is monumentally important if you are playing with incredibly high rising stocks or during a short squeeze.
Sad story time: I completely screwed up when I forgot to roll up, twice, during the GME gamma/short squeeze. I didn’t take my own advice; I didn’t have a real exit or transition plan and I got emotional. It all happened so fast and I was at work; the insanity of the run up and subsequent gamma squeeze caught me off guard. I should’ve clocked out and thought through the situation for 15-30 minutes to form an impromptu plan, then executed trade(s). My moderate risk tolerance coupled with my desire to take profits took over. When the stock partially cratered after a run up, I sold to retain gains. In the heat of the moment I thought the squeeze was squoze and it was going to plummet into the ground and I wasn’t being rational.
On 1x 4K call I would’ve made an additional 15-25K if I rolled up to a cheaper contract with some of my profits.
I know I missed out on significantly more with a 2nd call I had. Depending when I rolled it, it would likely have been an additional 25-50k in profits.
I talked about learning from your mistakes above. This mistake is branded into my brain due to the massive gains I missed out onby not rolling up. I’m furious with myself as I write this 1 week after the GME gamma squeeze, I’m a planner and I didn’t plan. If anything I own is significantly up ever again, I’m rolling up (or at least setting a stop loss). If necessary, I’ll roll up a trade multiple times to keep extracting profits.
Learn from my mistake so you don’t miss out on gains too. I strongly recommend rolling up when you are up big on a call / roll down when you are up big on a put. This enables you to take profits, stay in the game, and keep extracting more gains.
If you trade a lot of options, talk to your broker about a discount. I was getting the standard $.50/contract with E-Trade, but I traded over 300 contracts a quarter and was able to get the fee reduced by over $.10 by just asking. I am now doing more spreads and condors, so once my volume gets very high, I’ll ask again.
If you have a broker that isn’t great and you want to switch, leverage your current trading fees to the new broker. Tell them you’ll move over $### thousand if they beat your current options trading fee per contract.
Trade Planning & Position Management Tips
As you gain experience, start monitoring what kind of Delta, OTM, DTE, etc. you are most profitable with. Use it in your future trades. You'll often see the tasty trade 30-45DTE .3 Delta strategy for selling.
Before entering a trade, look at rough technicals like resistances and supports to consider your relevant strikes as well as entry/exit points. Look at upcoming earnings & dividend dates as well as stock/market news.
Consider staggering strikes and expirations for safety and diversity; it’s nice to avoid assignment on 3 puts at once because you used the same strike for all 3.
Incrementally enter positions on large rises/falls. One of my favor strategies is to buy dips after over reactions. By doing this slowly in large price "steps" it helps combat FOMO and helps you avoid getting slaughtered.
This will also help you avoid "chasing a falling knife". It also ties into having a plan.
I set alerts at several predetermined prices and I REALLY try not to enter new trades unless I hit my preset points. It makes me less emotional and usually more effective.
Don't buy far expiration options with poor liquidity for shorter term plays. I bought 1x GME 1-year+ LEAPS call before the 2021 short squeeze. That was stupid, I should've bought 2-3x 60-120 day calls to have better liquidity. I also paper-handed it and missed out on my lambo.
If selling options, consider rolling (for a credit) to avoid assignment when it makes sense / meets your plan. Rolling closer to expiration can be a valid strategy to get theta on your side. On the flip side, if the stock moons or plummets it could've been better to roll before it got crazy deep ITM. See rolling “rules” above.
Covered Calls:
If a stock has a large movement range, I think it can be worthwhile to wait to open a CC after the last one is closed/expires. I have been more successful waiting for another opportunity vs. opening one immediately on the Monday after the second the last one expires.
Consider selling covered calls at all time highs/peaks. If you sell a CC and the stock dips significantly, and you think it’s temporary, you can buy to close your CC for a quick profit, then reopen it later.
If you own Meme stocks, selling covered calls runs the risk of missing out on large gains. On these stocks I typically only sell them further OTM than I normally would or not at all. If I do sell CC on a Meme stock I try to ensure I have 25-100 other shares that won’t be called away.
-Advanced Beginner- Spreads
Spreads (with 2 legs) are neat because they manipulate how delta and theta act. It caps your gains and losses, but you can profit with less stock movement. Try several spreads on a P/L calculator to see for yourself.
Spreads usually require margin trading.
Spreads allow you to define max losses (assuming you close before expiration day) and use less capital.
Experienced traders will open many spreads at identical/similar strikes to heavily profit off movement. Spreads can make you/lose you a lot of money if you are right.
For example. I could make a $200 premium off a $500 risk trade, max loss would be $300. This is much more effective capital utilization than a naked or cash secured put, however it does not have the same downside protection or “wheel” potential as a sold put. Higher risk, higher reward.
Vertical Debit spreads: I think of these like mini calls/puts. I personally don’t use them unless calls are outrageously expensive or the break even is absurdly high, but there’s nothing wrong with them. A call debit spread will lower your breakeven and overall cost vs just a call. You can do clever things like making a positive theta call spread if you’re creative. I like doing this since I hate losing money to theta.
Vertical Credit spreads:
Very good theta strategy to define downside/upside risks.
A put credit spread is bullish and allows you to bet on upward movement with less capital and defined losses.
A call credit spread is a bearish strategy that allows you to bet on downward movement. These are very cool since they allow you to sell calls without selling naked calls, which can ruin you financially. I see selling these as better than buying puts since it’s so much easier to be profitable; to be redundant, Θ rocks.
I repeat this on purpose: Don't EVER leave short spreads open on expiration day, close them. If you don't close, they better be VERY far from the strike on a non-volatile stock. In after hours a stock can jump/dip below your strike and be exercised without the other leg to protect you. This can lead to massive, life ruining losses. This is not an exaggeration, google this and be scared. It happened to a fair number of people with TSLA. Video explanation: https://www.youtube.com/watch?v=rtVFj9nRRDo&t=315s
Short Straddle:
Trading Mechanics, Taxes, Market Manipulation
Learn about wash sale rules. They suck and are very easy to activate with options. This will eliminate your ability to write off losses. Over trading can easily cause wash sales. https://www.investopedia.com/terms/w/washsalerule.asp
Short attacks:
Learn to recognize these sketchy attacks by hedges/firms. They manipulate the market, it’s been documented countless times. A common one is rapid short selling, which pushes the price down.
Some people say short ladder attacks don't exist. I've seen some very strange stock nosedives off low volume, so I tend to think they do.
If you plan well enough and the market doesn’t give up on the stock you may be able to use it as a great opportunity to buy the dip.
Cramer explains how he intentionally manipulated the market when he ran a hedge fund years ago. Multiple links to the video are below since this video gets pulled often, Cramer / The street never wanted this to go public.
Due to this video I don’t fully trust Cramer. His show can give you stock ideas to buy (or inverse), but you never know where his true loyalties lie.
Plan for taxes if you are up big. You may need to over withhold or contribute to taxes quarterly depending on your situation. https://www.irs.gov/taxtopics/tc306
-Intermediate / Advanced Strategies (work in progress)- You’ll notice many of these strategies inverse one another. Options Strategy Finder This website is great for learning about new strategies, you’ll see many links to it below. https://www.theoptionsguide.com/option-trading-strategies.aspx Short Strangle / Straddle
Both of these strategies profit from little price movement. I recommend using a P/L calculator to determine BE, profit, etc.
A straddle sells (or buys) two options at the same expiry and strike.
A strangle sells (or buys) two options at same expiry with different strikes.
Both these strategies involved selling a Call and a Put for a credit. Straddle uses ATM legs, strangle uses OTM legs.
Limited max profits and unlimited risk. Due to the unlimited risk, I am not a fan. However, many people like these a lot.
These strategies profit from neutral or mostly neutral stock movement. They receive a credit to open and benefit from theta decay. If your stock is range bound, these may be a good choice.
These are both 4 "legged" trades, so you will have 4 trading fees to enter or exit the trade. A lower cost or zero cost broker shines here. However, “bad” free brokers will give you poor fills, which may not be worth the discount.
Condors and butterflies have "wings" which are your purchased puts and calls. The wider the wing the higher the max profit/risk. The condor body can be riskier and skinny with a narrow high profit range or wider for a much greater chance of success with lower payout.
An iron condor is built by combining a put credit spread and a call credit spread with the same expiry.
An iron condor can be thought of as a modified short strangle with limited risk, and therefore a bit less profit. I prefer defined limited risk.
The butterfly is similar except instead of a plateau it has a sharp peak. My personal mental note is that a condor looks more like a strangle with wings, while a butterfly looks like a straddle with wings.
Pay attention to earnings dates when you open these, I have forgotten to check before and it led to bad trades.
The debit version of an Iron Condor. You expect the price to stay inside your defined range. This strategy profits from neutral or mostly neutral stock movement. I’ve never tried this, Iron Condors make more sense to me.
Inverse of an Iron Condor. You expect the price to go OUTSIDE your defined range. These are useful when you expect significant price movement. Credit to open.
Limited risk / limited reward.
Can be harder to set up. I want to try these, haven’t yet.
Inverse of an Iron Condor. You expect the price to go OUTSIDE your defined range. These are useful when you expect significant price movement. Debit to open.
LEAP Options are options that are long term with many DTE, often over a year until expiration. LEAP calls are great for long term growth plays (downtrends with LEAP puts) or simply when you really like a company and can't afford 100 shares. LEAPs (or any "longer term" option) enables you to sell a PMCC or PMCP (below)
PMCC / PMCP
PMCC or PMCP are poor man's covered call (or poor man's covered puts). They are diagonal options often used with purchased LEAPs. You sell a shorter DTE call/put with a further OTM strike than your purchased call/put. For PMCC/PMCPs it is often recommended to recoup your extrinsic value as soon as possible, some recommend with your first call CC or put sale, to ensure you are positive if the option is assigned early. These have a lot of moving parts and strategies. If you buy a barely ITM call/put and sell a nearby strike call/put you run the risk of the purchased option getting "blown by" on large stock movement and ending up with a very negative losing trade. Keeping your purchased LEAP deeper ITM should protect you. Check your initial PMCC using an options calculation to make sure you don't screw up.
I'm currently tinkering with these myself. So far I like .7-.9 delta call LEAPS with 30-45 DTE calls on my CC. The goal is to hold the LEAP long term, potentially until expiration, and constantly sell calls/puts on it that expire worthless. Typically the call/put is rolled up and out or down and out if it's going to be assigned, unless you don't want your LEAP anymore.
Some people look at these many sold CC or puts as profits, I look at them as lowering my cost basis until it's zero (or even negative). I have a page in my notebook I write each CC on my NIO LEAP (I Meme stock sometimes). I find it satisfying to slowly see the cost of the original option disappear. When I originally wrote this I had ~2 years left on it and it's 9-10% paid for; that doesn't even count the actual gains the LEAP has.
TT states this is considered an IV play, which I partially agree with. You want to buy these during low IV times since an IV drop will hurt your LEAP value. I look at them more as a way to sell calls/puts on a high IV company with a lot of price movement and potential upside/downside.
Good brokers will allow you to set these up, some will require a desktop to do it. This lets you link one action to another. In programming think of it like an if-then. You’ll tie a buy/sell to another buy/sell
Setting trailing stops on options is very chaotic since their price movement can be drastic due to volatility. I prefer to set my trailing stop to a stock.
What I like to do is set a trailing stop on a stock (or just link it to a stock price drop) and have it sell 1 share I own. Then it immediately executes a market order to sell my call. I’ve had good luck doing this with incredibly volatile plays were stop losses aren’t effective. I’ll often have an order saved and ready saved for when a strong run up starts. When my price alerts start blowing up my phone, I’ll immediately hit execute to turn it on.
Disclaimer: I’m not a financial adviser, I'm actually an engineer. I’m not telling you to invest in a specific stock/option or even use a specific strategy. I’ve outlined and more extensively elaborated on what I personally like. You should test several strategies and find what works best for you. I'm just a guy who trades (mainly options) part-time for financial gain and fun. I don't claim to be some investing savant.
FuboTV DD (First time making DD, please give advice)
I tried to make it easy to skip around if you just want to see the financials or estimates. Just scroll to them if you don't care what the company is or their sectocompetition/management. TL;DR at bottom with final thoughts. Introduction “FuboTV ($FUBO) is an American streaming television service that focuses primarily on channels that distribute live sports, including NFL, MLB, NBA, NHL, MLS and international soccer, plus news, network television series and movies. Launched on January 1, 2015 as a soccer streaming service, FuboTV changed to an all-sports service in 2017 and then to a virtual multichannel video programming distributor (vMVPD) model. As a vMVPD, FuboTV still calls itself sports-first but its expanded channel lineup targets cord cutters, offering a selection of major cable channels and OTT-originated features that can be streamed through smart TVs, mobile and tablets and the web. The service is available in the United States, Canada and Spain as of 2018." From their home page: They are the only competitors in their space of digital sports broadcasting, offer 4K streaming and upscaling of live sports, cloud DVR capability ranging from 250 or 1000 hours on standard plans, and is available on Roku, Apple TV, Amazon Fire TV, Chromecast, Samsung Smart TVs, Xbox One, Android TV, Android Smart TVs, and Android/iOS smartphones and tablets, with plans ranging from $24.99/month to $79.99/month (not including add-ons). They have also recently acquired one company and have made plans to acquire another to allow for in-house sports betting. They have stated in a press release that they plan to release a sportsbook before the end of the year. This will push them into a broader spectrum outside of only TV and sports streaming, and into the sports betting sector along with DraftKings ($DKNG), FanDuel ($PDYPY), and Penn National Gaming ($PENN). Plans and Add-ons FuboTV offers three standardized plans as of February 8, 2021: the Family plan is priced at $64.99/month (normally $75.97/month), Elite at $79.99/month (normally $100.95/month), and Latino Quarterly at $24.99/month, along with offering additional add-ons. Each plan offers a range of channels, cloud DVR capabilities (which allows fast-forwarding through commercials), and casting to multiple devices simultaneously. Only the Elite plan does not offer a 7-day free trial (Channels page). The Family plan includes 117 channels (mostly news and entertainment with roughly 40 that offer sports, including ESPN), up to 250 hours of DVR space, and casting to 3 devices at once. The quarterly prepaid includes a free upgrade to 1000 hours of DVR space and 5 casting devices at home with 3 on the go (Channels page). The Elite plan includes 164 channels (includes an additional “47 entertainment channels”), up to 1000 hours of DVR space, and casting to 5 devices at home with 3 on the go. This plan does not offer a quarterly prepaid (Channels page). The Latino Quarterly plan includes 250 hours of DVR space and can be streamed on up to 3 devices at once, but only has 32 channels. This plan needs to be prepaid every 3 months for a total charge of $74.97 and does not offer a monthly service (Channels page). Upgrades include additional DVR space--1000 hours for an additional $6.99/month for the Family and Latino Quarterly--and increased device casting--an additional 2 devices at home with 3 on the go for another $9.99/month for the Family and Latino Quarterly plans. You can also add a variety of channels and sports packages (the Latino Quarterly has fewer channel add-ons compared to the Family and Elite plans, which both have the same channel varieties). Sports Plus with NFL RedZone is an additional $10.99/month, but includes all professional and college sports broadcasting services for football, basketball, baseball, hockey, tennis, fighting, etc. (Channels page). Fubo has recently removed its former Standard plan, which included only 65 channels, up to 2 casting devices, and only 30 hours of DVR support for $60/month. Financials and Growth Fubo has yet to file an annual report as they have gone public in October of 2020, but they have filed a 10-Q for Q3 2020. All numbers in thousands. Assets- Between December 31, 2019 and September of 2020, assets have increased from $368,225 to $799,313 (a 117% increase) . Total current assets increased from $17,973 to $58,016, but accounts receivable decreased from $8,904 to $6,975--this may be attributed to the increase in prepaid subscriptions which increased from $1,445 to $12,177 which shows strong customer satisfaction and retention. Liabilities- Liabilities have increased from $145,049 to $290,376 (a 100% increase). The largest contributors to their liabilities are “Due to related parties” increasing from $665 to $85,847, “Warrant liabilities” increasing from $24 to $28,085, and “Accounts payable” from $36,373 to $61,679. Long-term borrowings have decreased from $43,982 to $25,905. Revenues- Subscription revenues increased by $53,433, totaling $92,945 for the year. Total revenues including advertisements and licensing have increased by $61,202, totaling $112,669 for the year and an increase of 47% YOY. Q4 revenue is estimated to be between $94,000 and $98,000 which would be a 77-84% increase YOY. Expenses- Subscriber related expenses total $114,315 for the year. Total expenses have totaled $500,249 for the year. Subscribers- Ended Q3 with 455,000 paid subscribers, a YOY increase of 58%, and plans to end 2020 with over 545,000, an increase of 72% YOY. Competition Its closest competitors are Hulu + Live TV (owned by Disney ($DIS)), YouTube TV (owned by Alphabet ($GOOG)), and Sling TV (owned by Dish Network ($DISH)). Hulu + Live TV
Includes league networks
50 hours of free DVR (200 hours for $9.99/month)
More than 74 channels
Unskippable ads on DVR without upgrade to 200 hours
2 streams at a time
$64.99/month
Can add ESPN+ and Disney+ for an additional $7/month
YouTube TV
Includes league networks
Unlimited DVR storage
More than 85 channels plus YouTube Red Originals
3 streams at a time
Sports Plus package for an additional $10.99/month
NBA LeaguePass for an additional $40/month or $119.99 annually
Starting at $64.99/month
Sling TV Blue
Includes league networks
DVR up to 50 hours (200 hours for $5/month)
More than 45 channels
3 streams at a time
Sports Extra package for an additional $11/month
Starting $35/month
Can be combined with Sling TV Orange for a total of $50/month
Sling TV Orange
Includes league networks
DVR up to 50 hours (200 hours for $5/month)
More than 30 channels
1 stream at a time
Sports Extra package for an additional $11/month
Starting at $35/month
Can be combined with Sling TV Blue for a total of $50/month
Merger with FaceBank for $100 million revolving credit
Analysts and Estimates Average analyst ratings put Fubo at a Buy to Strong Buy rating with an average price target of $45.50 with a high of $60 and a low of $30. EPS estimates are estimated to be -5.23 for 2020 and -1.64 for 2021. Currently has a short float of about 75%, but the short volume has been holding at roughly 15-20% over the last month and has drastically declined from its October short volume of over 50%. Originally valued at $700 million less than a year ago, a current valuation of $3.19 billion is respectable for this company and is on par for its current performance. Risks
Marketing fails and Fubo is never known as a household name, so consumers stick with other more known providers
Their sportsbook fails and becomes dead weight and wasted money
Subscriber count and streaming drops as quarantine lifts, reducing revenues while maintaining expenses
Consumers opt for cheaper options
People paying for the sports package cancel when the season is over, creating a boom and bust cycle if not managed correctly
Final Thoughts / TL;DR With its drastic growth over the last year (400% in the last 4 months), support from FaceBank and well-known investors, and plans to join the sports betting sector, FuboTV has potential to become a household name and grow well beyond its current valuation by combining both sports broadcasting and online sports betting into one convenient place. Although unlikely to overthrow any of the current forces, it can become the best live sports broadcaster that people can turn to when they cut cable but want to keep live sports. It has many hurdles to overcome (creating their sportsbook, better marketing, increasing subscriber count, etc.) before it is any real competition to its already established competition. At a $3.19 billion market cap and very high (75%) short interest, it will be very difficult to realize consistent growth, but it is on par for a company with almost $100 million in revenue. My Position 25 shares at $47.30 Edit: edited final thoughts/TL;DR Please provide feedback! First time actually researching and compiling information for a company and not just reading about them on here. Also, please ask questions to clear up any confusion; it was kinda hard to put everything together neatly, so I might have accidentally left stuff out or oveunder explained some things.
The black nobility is the base of the global crime syndicate that controls this planet. The black nobility or black aristocracy are the aristocratic families that sided with the papacy under Pope Pius IX after the army of the Kingdom of Italy led by the Savoy family entered Rome on September 20, 1870, overthrew the pope . and the Papal States, and took over the Quirinal Palace, and the nobles later ennobled by the Pope prior to the Lateran Treaty of 1929. Any family that produced popes for the Vatican is royalty. Most of the black nobility are Vatican royalty. The black nobility consider themselves sovereign princes. These families earned the title of "black" nobility for their relentless unscrupulousness. They used murder, rape, kidnapping, robbery and all kinds of deception on a large scale, without resisting the achievement of their objectives. The black nobility were the families that financed and created the holy corporation of the Vatican with the aim of imposing world slavery as a necessary institution, with the sole belief that some are born to rule and others to be ruled. The idea that certain families were born to rule as an arbitrary elite, while the vast majority of a given population is condemned to oppression, servitude, or slavery became the theological position of this elite. The "New World Order" is an attempt to take control of society by these fascist families with the purpose of the total slavery of humanity. The Vatican is an imperial nation and is the largest empire in this world. The Vatican City, or the Holy Vatican Corporation, officially the Vatican City State, is a nation that operates as the largest intelligence network in the world. The Holy See is the "All-Seeing Eye" in society and a corporate entity connected to many other corporations and governments through papal and royal statutes. Archbishops and high-level bishops are the overseers of society within their districts and oversee politics, police, business, and organized crime. The same year that the professor of ecclesiastical law and practical philosophy at the University of Ingolstadt, Adam Weishaupt, created the Order of the Illuminati, was the same year that they created the United States as a corporation to run it as their private army and lead I dig the agenda of a "New World Order" for the elites, mainly, thanks to the infiltrated Freemasonry and directed by the Jesuits. The New World Order is a conspiracy of lineage at the top. They are ancient and evil bloodlines that build and destroy empires for control through an order out of chaos. Royal and noble houses are corporate entities and claim to rule and own land, resources, and people. Landlords have always been the dominant owners of gold and precious metals. They empower and finance bankers and entrepreneurs to work for them through their corporate homes. They authorize and issue the creation of laws, agencies, the military, companies, and universities. They create and run religions and secret societies. They also finance and organize organized crime syndicates as if they were commercial enterprises. Some of the major royal bloodlines include Savoy, Bourbon, Medici, Glücksburg, Wittelsbach, Nassau-Weilberg, Saxe-Coburg and Gotha, Romanov, Grimaldi, Orleans, Braganza, Habsburg, Hannover, Windsor, Saud, Thani, Khalifa, Alouwite , Zogu, Hohenzollern, Orange-Nassau, Bonaparte and Bernadotte. Many royal bloodlines still rule their nations as heads of state such as the United Kingdom, Belgium, the Netherlands, Denmark, Monaco, Spain, Saudi Arabia, Bahrain, Morocco, Sweden, Norway, and Luxembourg. The Vatican City State is also a kingdom with the Pope of Rome as its monarch. The Black Nobility are the ancient bloodlines of the Papal States and they own the Holy See and the Vatican. They produced the first popes of Rome and held leadership positions in the Vatican from its inception. The Colonna and Torlonia still hold the hereditary positions of the Assistant Princes to the Papal Throne. The black nobility consider themselves sovereign princes. The Vatican is used as a central point of control and the Holy See is one of the oldest and most criminal corporate entities in existence. The Spanish Catholic Church is immensely rich, it has not suffered the crisis and also enjoys a true tax haven, being free to pay taxes, such as the IBI, works, companies, etc. The vast majority of the assets in their possession and on their accounts are completely opaque. This situation is illegitimate, unfair and presumably illegal, and this occurs with the complicity and consent of the public powers. The Erlach and Brandi families are Swiss tax advisers who enable corruption, bribery, criminal financing, and money laundering. The Swiss Guard is the one that protects the Vatican City State. The Swiss cantons have been in contract with the Vatican for centuries and Switzerland is basically a papal state with the noble Roman saints claiming partial ownership. The German house of Baden-Zahringen founded Bern, in Switzerland. The House of Savoy ruled the regions of Switzerland for hundreds of years. Some of the most important bloodlines of the Black Nobility are: Massimo, Colonna, Pallavicini, Odescalchi, Ruspoli, Orsini, Aldobrandini, Sforza-Cesarini, Boncompagni-Ludovisi, Chigi-Albani-Della Rovere, Doria-Pamphilj, Rospigliosi, Giustiniani , Torlonia, Corsini, Borghese, Del Drago, Lucchesi-Palli, and Gaetani. The Pecci and Pacelli families are more recent bloodlines of the Black Nobility. The black nobility share ownership over the Holy See, which is a corporate entity based in the Vatican City State that was established as a nation in 1929 under Benito Mussolini, who was put in power by the House of Savoy. The Mussolini and Franco families became nobles after their fascist regimes. The Black Nobility also owns the Knights of Malta, the Jesuits, and the Cosa Nostra. The Black Nobility established branches in southern Italy and married Sicilian-Campanian nobles such as the Lanza di Scalea, Adragna, Sanseverino, Tomasi di Lampedusa, Paterno, Cattaneo, Serena di Lapigio and Rocco di Torrepadula families. Many Italian crime families were Sicilian nobles like the Bonanno and Bellomo families. Both the mafia bosses and the Italian and Spanish nobles call themselves Dons, which is the equivalent of Boos (boss) of crime. The Savoy, Savoy-Aosta, Medici, Borbon-Dos Sicilias, and Borbon-Parma families are members of Italian royalty and are married to various European royal bloodlines and Black Nobility. Most of the monarchs are members of the Sovereign Military Order of Malta. Prince Carlo Massimo has been overseeing the Sovereign Military Order of Malta as President of the Italian Association of SMOM. The Knights of Malta have an undercover operation at the Jesuit School of Foreign Service in Georgetown, run by Joel Hellman. The Jesuits and the Knights of Malta basically run the Defense Department alongside British Crown agents and high-level Freemasons. Prince Carlo de Borbón-Dos Sicilias is a high commander of the Society of Jesus through his Sacred Constantinian Military Order of Saint George. The Jesuits were authorized by Pope Paul III of the Farnese family. The Bourbon-Dos Sicilias and Borbon-Parma families are the continuation of the Farnese family, the name Farnesivs is engraved in the Jesuit headquarters called the Church of Gesu in Rome. The Farnese family lived in a pentagonal fortress called Farnese Villa Caprarola, which is the basis for the design of the American Pentagon. Jesuits are involved in education, politics, banking, science, law, and especially military intelligence. The Italian Bourbons have established residences all over the world, including Florida. Jesuits need to be investigated and banned, they have rightly been expelled from almost every country in the world, but they always end up coming back. In Spain three times, his last return was at the hands of General Franco. The Holy See is a corporate body that issues laws and bills, such as the Golden Bull, which claims ownership of the Kingdom of England and identifies the emperor as the sovereign of the only legitimate universal empire, directly chosen by God. The Pope claims temporal power or ownership over the Earth and also claims Papal Supremacy or Papal Rule and Papal Infallibility. Infallibility means incapable of being wrong. The Roman Curia or Papal Court is the highest organized council in society and is directly supervised by the two “Assistants of the Prince to the Pontifical Throne”, these two positions are held by the princes of the Colonna and Torlonia families. They work with a higher level princely council of the Italian nobility that works with another council made up of the Roman nobility. The Italian and Austrian nobility are married to each other and work closely together leading the Sovereign Military Order of Malta, which is a sovereign entity equivalent to that of a sovereign nation. The Italian Nobility, La Cosa Nostra and the German and Austrian Nobles, run the Jewish Mafia. Royalty and nobles have massive amounts of wealth in private bank accounts in Switzerland. They use the Nazi-founded Bank for International Settlements to steal wealth from central banks through fraudulent tax contracts and then launder and hide the wealth in private bank accounts in Switzerland. The main Italian lineages still active include the Massimo, Colonna, Pallavicini, Torlonia, Aldobrandini, Ruspoli, Orsini, Gaetani-D'Aragona, Borbón-Parma, Odescalchi, Borghese, Adragni, Chigi, Medici, Borromeo, Doria-Pamphilj, Sacchetti, Savoy, Grimaldi and Bourbon. These bloodlines oversee the various specters of society. Outside of this power structure is the Committee of 300 with an inner circle made up of the leading monarchs and princes of Europe and the former Holy Roman Empire with members from Windsor, Spencer, Cecil, Percy, Hohenlohe-Langenburg, Habsburg, Bonaparte, Orleans, Bernadotte, Lagergren, Glucksburg, Hannover, Furstenberg, Austria-East, Hohenberg, Hesse, Nassau-Weilberg, Habsburg-Lorraine, Saxe Coburg and Gotha, Saxony-Weimar-Eisenach, Saxony-Meiningen, Braganza, Orange-Nassau, Hohenzollern , Hohenzollern-Sigmaringen, Liechtenstein, Rothschild, FitzJames, Lobkowicz, Ligne, Merode, Romanov, Thurn and Taxis, Schwarzenberg, Orsini-Rosenberg, Windisch-Graetz, Esterhazy and other families. Many members who do not have noble status on the Committee of 300 are representatives of the royal families. These families are all enemies of humanity and have conspired to enslave the world for centuries. They authorize and create corporations and billionaires, run religions, states, secret societies, the mafia, and organized crime syndicates. Royal families in Europe are mainly divided into two factions, and this dates back to the Guelph merchants and Ghibelline landowners. All other groups like Bilderberg, CFR, and the Trilateral Commission are lower-level organizations. All roads lead to Rome, which is the basis of its control system. The European Constitutional Monarchies are branches of the corporate empire of Rome. Constitutional Monarchies are ruled by blood-appointed heads of state and serve Rome through the Sovereign Military Order of Malta. The Pope claims temporary or physical ownership of the Earth. The Pope claims to be infallible of error. The Pope claims ownership over all souls through the papal doctrine of "Papal Supremacy." The Pope is a leader for the Black Nobility of Italy. The Jesuits are a military priesthood officially established by Pope Paul III A.K. to Alessandro Farnese of the Farnese family. The Jesuits were officially established under the Papal Bull called Regimini Militantis Ecclesiae, which means Military Regiment of the Church as the continuation of the Templars. The Black Nobles are the true owners and controllers of the Vatican and maintain their control throughout the centuries by installing their relatives as high-level popes and bishops. At present the Torlonia and Colonna families who have the hereditary positions of Prince Assistants to the Papal Throne are those who supervise the pope. In turn Pope Francis supervises all members of the Catholic Church and also supervises the various secret societies that are connected with the Church. The Jesuits are also a Masonic order and were the continuation of the Templar orders when they were banned. The Roman Catholic Church mocks Christians by performing rituals where they pretend to drink blood and eat human flesh known as the Eucharist, also called Holy Sacrifice. The New Testament did not exist until about 1600 and the Old Testament is even more recent than the new. It was the Vatican and European monarchs who created both the New and the Old Testaments. The last official version of the bible was published in 1777. The bishops and priests operate as supervisors and the Jesuits function as spies trained in deception and are infiltrated everywhere. The Pope claims temporal power or ownership over the Earth and also claims Papal Supremacy or Papal Rule and Papal Infallibility. Infallibility means incapable of being wrong. Archbishops are the overseers of society within their districts and oversee politics, police, business, and organized crime. The Latin phrase Novus Ordo Seclorum means New Order of Ages (or Ages), or also "New World Order", and is on the US dollar bill and Great Seal of the United States. The Vatican uses Latin as an official language and for documents. America is named after the Italian Americo Vespucci who worked for the Medici family of Florence and Rome. Vespucci created the term New World for America. The Bank of America was originally called the Bank of Italy and was founded by Amadeo Giannini, who was financed by Italians. Nations were formed as companies or corporations to exploit their citizens as merchandise. Corporations are fraudulent constructions because they are considered a person with rights under the law, and because the owners and controllers of the corporations can disregard responsibility for crimes committed by the corporation. That is fraudulent. Corporations are not people and therefore cannot have rights. Corporations are also monopolies that use subsidiaries to hide their dominance over industry. Private companies cannot compete fairly with corporations. Citizens are also classified as legal persons (companies), robbing them of all their human rights. Corporations shouldn't exist. Royalty and nobles issue charters establishing representative covert property agents controlled by corporate households or crowns of royalty and nobles. They claim to own foreign governments in this way. Royalty and nobles claim to own the United States as a continuation of the Virginia Company. Roman royalty such as the Hanover, Hesses, Wurttembergs, Hohenzollerns, Glucksburgs, Orange-Nassaus and Saxe-Coburg and Gothas claim a share of ownership over the British Crown. This is why the British royal family has so much German ancestry. The United States is defined as a federal corporation under US code 3002. Section 15. Most of the founding fathers were Freemasons and worked for the British Crown and German royalty. American political families, such as the Bushs, Clintons, Romneys, and Kennedys, take their names from European noble families that still exist. The Von Dem Bussche family are German nobles and relatives of the Bush family. The Clintons and Romneys are also British nobles. The Kennedys are Scottish-Irish nobles and an American political family involved with the Democratic Party. Mars, Walton, Rockefeller, Guggenheim, Getty, Hearst, Sackler, Lauder, Sachs, Busche, Johnson, McMahon, Forbes, and Cox are some of the billionaire American families that work with royalty and nobles in Europe. The Mars family is worth about 70 billion and works with the Windsor, Savoy, Thurn and Taxis families. The Waltons are worth around 130 billion and work with German nobles like the Württemberg, Baden, Hohenzollern and Isenberg families. The various Johnson families in the United States are collectively worth tens of billions and serve as agents for the House of Hannover. They own Johnson and Johnson and Fidelity Investments. The Hanovers are powerful royals and merchants who established the Hanseatic League. The Hearst family is worth more than 25 billion and several members were educated at Harvard University of the British Crown. The McMahon family is a billionaire and owner of the WWE and works under the Bonapartes and Savoys as their noble ancestors who were served militarily by the MacMahons during the Second Italian War of Independence. Today there are MacMahons in France with Italian and French titles of nobility. The Lauder family works for the House of Esterhazy in Austria and the House of East in Austria and Italy. The Guggenheims have assets worth hundreds of billions and are married to the House of Stuart. The Getty family are billionaire American oil merchants and are married to the Italian House of Ruspoli. The Forbes family are billionaires and American descendants of Scottish nobles who still exist. All gang stalking and cult organizations are owned and controlled by members of royalty and nobility. Criminal organizations such as Royalty itself, Royal Institutions, The Company of Jesus, The Black Monks, The Hellfire Club, The Templar Orders, Freemasonry, The Grand Orient of France, The York Rite, The Scottish Rite, Prince Masonry of Prince Hall, Shriners International, The Royal Order of Jesters, The Cabal Society, Chabad, Scientology, Skull & Bones, The Boulé Society, The 5% Nation, The Nation of Islam, Black Israelites, The Ordo Templi Orientis ( OTO), The Temple of Set, The Church of Satan, Rosicrucian, Golden Dawn, Opus Dei, Mormons, Knights of Columbus, The Bohemian Club, Knights of Phintias, Ancient Order of Druids, Wicca, Santeria, Obeah, Voodoo, Sufism , Greek Fraternities and Brotherhoods, New Age and Gnostic Cults, Nazi Cults, KKK, Mafias, Prison Gangs, Biker Gangs and Street Gangs. The Rockefeller family uses their charitable foundations to fund harassment gangs and bribery in the United States, as well as globalization agendas and vaccination programs. The Rockefeller Foundation funded Almighty Vice Lord Nation, which is an organized crime group, and also funded the Tavistock Institute. Hollywood, the Church of Scientology, and Silicon Valley are military operations like the US DARPA agency and run by European royalty and nobles like the Oettingen-Spielbergs, Schaumburg-Lippes, Anhalts, Hanovers, Windsors, Passi di Preposulos, Ruspolis, Torlonias and Odescalchis. The Ferragamo family is also involved in the management and financing of corruption in Hollywood. The House of Nassau-Weilberg, which is married to the Torlonias, funds human trafficking and human sacrifice in Hollywood. Idols in the entertainment industry are a dangerous cult with leaders who have access to electronic weapons. Most of modern electronics is being broadcast covertly with GENISIS and NEURON bio-piracy software controlled by Kabbalists and Scientologists. European monarchies function as extensions of Rome and run secret societies that infiltrate government agencies and run corporations for monarchs. The Sovereign Military Order of Malta is the main military council and works closely with the Orders of St. John administered by Protestant royalty such as the Windsors and the Hohenzollerns. The Order of Malta and the Order of Saint John are Masonic organizations with grand masters and titles for initiation. The royal and noble bloodlines are all working together as a global crime syndicate and part of a modernized Roman corporate empire. They also have several competing factions that create the illusion of division. The British crown and Scottish nobles such as the Bruce, Stewart, Sinclair, Campbell, Montagu, Scott, Hamilton, Percy, Boyle, Bowes-Lyon and Sutherland families administer a large part of Freemasonry. All of these families produced Grand Masters of the Grand Lodge of England. There are thousands of Masonic lodges in Europe and in the United States. Freemasonry must be investigated and outlawed. The Greek-German Royal House of Glucksburg directs the Greek fraternities and brotherhoods and uses initiates as its agents. Glucksburg nobles and Italians run the Boule Society, Boule is a Greek fraternal society for African Americans. Martin Luther King and Jesse Jackson have been members of Boule, among many other high-profile, successful, and wealthy blacks, including Barack Obama, Bill Cosby, Al Sharpton, and Thurgood Marshall. The Glucksburg family rules Denmark and Norway and recently ruled Greece. Among its members are the ex-queen Sofía of Spain and Duke Felipe de Edimburgo. Former Greek nobility and royal merchants such as the Mavroleon, Onassis, and Niarchos families are billionaires who have a monopoly in the shipping industry and work with British nobles. The Greek royal family currently lives in London from where many Greek consignment merchants operate. The British Crown authorized and controls universities such as Yale and Harvard which are used to recruit Crown agents through fraternal orders such as Skull & Bones and Book and Snake. Royal and noble families also do undercover business in the City of London Corporation, which dominates global markets. Some of the major London merchant families include the Goldsmith, Stuart, Rothschild, Grosvenor, Sassoon, Barclay, Sutherland, Montagu, Bailey and Guinness families. The Sutherland family created the HSBC bank that has a long history of financial scandals around the world (Emilio Botín, Fernando Alonso, Mohamed VI, Jorge Trías and Jordi Pujol Jr. had accounts at HSBC when it was chaired by Stephen Green, Baron Green of Hurstpierpoint). The Bailey family is co-founder of Janus Henderson through a merger. Janus Henderson manages around 190 billion in assets. The Stuart family owns the Hudson Bay Company and has an alliance with the Bavarian House of Wittelsbach, which is the covert owner of some of the Hudson's Bay Company subsidiaries, which were founded by Bavarian merchants. HBC has approximately $ 12 billion in assets and has had fiscal contracts with the United States through the Organic Law of the District of Columbia of 1871. The Orange-Nassau family are influential traders through the Netherlands Trading Society and have a large number of shares in Royal Dutch Shell, Philips Electronics and ABN AMRO Bank. The Orange-Nassaus and their Dreyfus agents run the Rand Corporation, which has a contract with the US military. Rand's founder was a Dutch gentleman. The Orange-Nassau family also runs the Loyal Orange Institution in Ireland, which has infiltrated the police, justice and politics. The Luxembourg Nassau-Weilburg family are international bankers connected to the World Bank and the International Monetary Fund. The royal families of Luxembourg, Belgium and the Netherlands have shares in the European Investment Bank and all of these royals are recently married to Italian nobles. The Ligne family from Belgium are wealthy diamond and gold merchants. The Belgian Crown and its nobles are stealing wealth from the United States through fraudulent tax contracts established through the Organic Law of the District of Columbia of 1871 and continue to do so through the Bank for International Settlements. The Barons Strange heads the Masonic Order of Oddfellow. The Russell family are the Marquesses of Tavistock and they run the Tavistock Institute, which is an organization involved in mass mind control. The Russell family also co-founded the Yale University and Russell Trust Association, which is named after the New Haven, Connecticut company based on the Skull & Bones secret society. Skull & Bones is a death cult military complex run by the Bush family from the USA who are like a European royal family in the USA. The Furstenberg family runs the Royal Order of Jesters who wear a jester on their coat of arms. The Clintons work closely with the House of Furstenberg, who have residences in the United States. The Italian Orsini family and the Holy Roman Rosenberg family lead the Rosicrucian Order of alchemists who infiltrate food and drug companies for chemical warfare. The Medici family, who have a statue of Hermes (Mercury) in their palace in Rome, administer the Hermetic Order of the Golden Dawn, an alchemical secret society. The Medici were architects of modern banking. The Pierleoni family of Rome and the Spanish House of Bourbon-Anjou run the Kabbalah Society, which uses the Spanish lion for its logo. The Pacelli family of Rome and the Crescenzi family of Italy administer the Wiccan witchcraft cults. The Bavarian Wittelsbach family from Bavaria created the Bavarian Illuminati and administers the Benedictine Monks and is also part of the Jewish Mafia in the United States who are white collar criminals. The Pecci family of Italy also owns the Jewish mafia in the United States through their marriage to the Blumenthal family. The House of Wittelsbach is involved with Zionism, Nazism, Freemasonry, and the Society of Jesus. The Jesuits function as Roman intelligence and infiltrators and use their universities to recruit and train agents for Rome. Jesuit agents dominate leadership positions in the United States military and intelligence and especially in the CIA. The Knights of Columbus are owned by the Casa de Colonna. Christopher Columbus was Pedro Madruga, the Count of Caminha, a relative of the Colonnas who settled in Pontevedra at the time of the Romans. Many Knights of Columbus are police officers, mayors, lawyers, and judges, protecting the Italian mob while targeting free-thinking people. The Knights of Columbus are heavily involved in gang harassment. Court Jews such as the Rothschild, Warburg, Goldsmith, Oppenheimer, Walton, Sassoon, Kadoorie, Lewis, Javal, Lauder, Sackler and Dreyfus families work through the Roman Curia or royal courtrooms such as Buckingham Palace. The French Rothschilds work for the Black Nobility of Rome and the French House of Orleans. The British Rothschilds work for the British Crown. The Sassoon and Kadoorie families work for the British Crown and oversee banking and business in China and India. The Swiss Rothschilds work for the House of Habsburg and the House of Hesse. The Oppenheimers work for the German House of Wurttemberg and the Cologne Oppenheim branch. the Austrian House of Habsburg granted them titles of nobility. The Warburgs work for the Italian House of Borghese and the German House of Hesse and the House of Hannover. Warburg Pincus had a contract with Unicredit that merged with the Borghese Family's Bank of the Holy Spirit. The Warburgs were Venetian bankers and the Borghese family now hold Venetian titles of nobility. The Warburgs financed the Nazis. The Dreyfus family works for the Dutch House of Orange-Nassau and the French House of Bonaparte. Jewish banking families work for Christian nobles and royalty. These billionaire Jewish bloodlines run many rabbis who run a criminal intelligence network that works with Mossad. The French House of Bonaparte and the Swedish House of Bernadotte control many of the main European companies through their knights of the Order of Seraphim and the Legion of Honor, who are also members of the Round Table of Industrialists of Europe, which it has a great economic influence on the markets. The Wallenbergs run corporations worth hundreds of billions and work for the Swedish House of Bernadotte. The Wallenbergs and the Swedish Crown also work with the Jesuits and the Vatican. The Black Nobility and other royal families have been hiding billions in private banks in Luxembourg, Liechtenstein and Switzerland. The royal families of Luxembourg and Liechtenstein own and run their own national and private banks. Austrian and Eastern European royalty and nobles, such as the Habsburgs, Esterhazys and Schonberg, use private banks in Liechtenstein and also own Israeli and Jewish mafias. The Esterhazy family together with the Lucchesi-Palli family run a faction of the Russian mafia through the mob boss Semion Mogilevich from Budapest. The Torlonia family owns the Fucino Bank in Rome and functions as Vatican bankers and treasurers. The Torlonia family of Rome and the Hohenzollern family of Germany are the main owners and controllers of the Bank for International Settlements which was founded and administered by the Nazis during World War II. The Torlonias are architects of fascism and the Hohenzollerns are architects of Nazism. The East, Rothschild and Hottinger families are some of the leading Swiss bankers. The Romanian Sturdza family also owns a private bank in Switzerland. The Casanova family of Italy and Spain is one of the leading political families in Switzerland. The East and Savoy families run the Bank for International Settlements, which has a contract with most of the major central banks and is embezzling the wealth of nations through fraudulent loans and contracts. The Savoys live in Switzerland and Prince Lorenz of Austria-Este works at the Gutzwiller bank. The Bank for International Settlements must be investigated and closed. The Gutzwiller family is one of the leading banking families in Switzerland, owning its own private bank and managing 35 other Swiss banks. The Swiss Guard is a military body in charge of the security of the Pope and the Holy See. The ceremonial head of the Swiss Guard is the Pope, sovereign of Vatican City. Italian mafias are Rome's enforcers involved in extortion, money laundering, murder and drug trafficking, and they pay their dues to the Sicilian mafia, which in turn pays them to the black nobility. The mafia channels its earnings and tributes to the Black Nobility through the Vatican charitable foundations and then from the Vatican bank they are transferred to the private accounts of the Swiss Bank. The Savoy’s Genovese crime family specializes in extorting Wall Street. The mafia is rigging professional sports for gambling and they also launder their criminal winnings through the casinos. The Torlonia family owns the Kansas City crime family and shares ownership of the Pittsburgh crime family with the Borghese family of Rome and the Rocco di Torrepadula family of Sicily. The French House of Orleans owns the New Orleans crime family and the Franco-British Beaufort family oversees and owns the Dixie Mafia factions along with other British peers who have French ancestry. Cox's billionaire family is involved in multimedia communications and is part of the owners of the Dixie mob, which is involved in tobacco and ginseng sales as well as arms, drug and human trafficking. The Goldsmith and Sassoon families own Pakistani and Hindu human trafficking networks operating in the United Kingdom. The Imperial House of Brazil, Orleans-Braganza and the Belgian House of Ligne are married and have shares in the Brazilian companies AmBev and Belgian Anheuser-Busch InBev. The House of Orleans-Braganza owns Brazilian drug cartels that are also involved in human trafficking. The Sforza family owns the Stidda Mafia clans operating in the Sforza-Visconti territory in Milan and the Sforza and Visconti families have greater control over the Italian Stock Exchange or the Milan Stock Exchange. Milanese billionaire Silvio Berlusconi works for the Sforza and Visconti families and has a monopoly on Italian media and politics. Berlusconi founded the Forza political party in Italy named after the Sforzas. Some northern Italian nobles such as the Visconti, Borromeo, Este, Gonzaga, Valenti, D’Adda, and Passi di Preposulo families are closely related to billionaire families such as the Rothschilds, Agnellis, Benettons, Armanis, and Ferreros. The Sforza and Visconti families own the Seattle crime family with the Gaetani family as partial owners. The Seattle crime family controls billionaires Bill Gates and Jeff Bezos through blackmail. In 2017, Microsoft and Amazon employees were caught in a sex trafficking scandal. The Colonna family owns the Knights of Columbus and also owns the Colombo crime family and partially owns the Chicago Outfit along with the Capponi and Roselli families of the Florence Turk. Al Capone was an agent of the House of Capponi and John Roselli was an agent of the Roselli del Turco family. Roselli also worked for the CIA. Colonna means column like Colombo and Colón. The Knights of Columbus infiltrate police departments and work with the Italian mafia. The Massimo and Gaetani families own and run the Gambino crime family and the Philadelphia crime family. The Massimo-Brancaccio family also owns and runs the Magliana or Roman Mafia and the Armed Revolutionary Nuclei, as well as the Graviano de Brancaccio crime family in Palermo, Sicily, which is part of the Corleonisi mafia clan. The Massimo family receives tribute from most of the Italian crime families and even from the Russian mafia and Eastern European mafias. The Massimo de Roccasecca family, who live in London, own the Clerkenwell crime syndicate, also known as the Adams Family or the London A-team and are part owners of the Irish Mafia, including the Rathkeale Rovers. The Borghese family is also the main owner of the Sicilian Mafia and the Mafia Magliana. The Lucchesi-Palli and Pallavicini families own the Lucchese crime family to which the Russian mafia in Brighton Beach pays tribute. The Pallavicini family owns the Armenian mafia that operates in Hollywood and works closely with the Kardashian family. The Romanovs are partial owners of the Russian mafia and have established several residences in the United States. The Giustiniani family oversee the Philadelphia Greek Mafia along with some Greek merchants. Royal and noble families finance organized crime. The Jewish Mafia reorganized into a white collar crime and worked with the black hand of the Italian Mafia. The head of the Jewish mafia in the United States is billionaire Michael Bloomberg. Leon Black is another one of the leading Jewish mobsters in New York. The Jewish Mafia participates in professional sports with white-collar mobsters such as Daniel Gilbert, Robert Kraft, Joshua Harris, Tom Werner, Jerry Reinsdorf, George Kaiser, Peter Guber, Joe Lacob, Mark Cuban, and Micky Arison. The European Union is based on the Treaty of Rome that was signed at the Capitol in Rome. The president of the European Central Bank is Mario Draghi, born in Rome and educated by the Jesuits at the Massimo Institute. Mario Draghi is an undercover relative of the Borghese and Del Drago families. The Erba-Odescalchi family with ancestry from Cernobbio, Italy, runs CERN with the Roman Fabiola Gianotti as CERN Director General that is used to generate pressure in the lower atmosphere in order to oppress society. CERN, HAARP, The Church of Scientology, Chemtrails and electronic devices are being used to covertly oppress society. The US military administers a HAARP electronic harassment system in Puerto Rico that is controlled from Guantanamo Bay in Cuba, which is under the command of Captain David Culpepper. The CIA and the Italian Mafia have a large criminal operation in Cuba. The CIA and Cosa Nostra work closely to this day. Islamic royal families were named after European royalty in the 19th and 20th centuries and especially after the First World War. Middle Eastern royalty run the oil industry and use their massive wealth to fund globalist agendas that allow them to rule their nations. The house of Saud is worth at least a billion. The House of Thani and the House of Al Khalifa work with the House of Saud and are also wealthy oil traders. Royals from the Middle East run the Muslim Brotherhood and the Five Percent and the Nation of Islam, which are violent mobs of cult and harassment. These organizations need to be investigated and banned. They also own an Arab mob that is based in New Jersey and Detroit. The royal family of Morocco are wealthy merchants and owners of the Abergil crime family of Israel and Morocco. The House of Bourbon and Spanish nobility such as the Osorio, Fitz James, Alvarez (Alba), Pignatelli, Arteaga, Borja, Zuniga, Ruspoli, and Aragon-Escobar families own the majority of the Mexican and South American drug cartels. The Osorio and Borja families own MS-13. The Borgia and Borja families are also partial owners of the Mongels motorcycle gang. The Bourbons own the Gulf Cartel and the Lating Kings. The Ruspolis are partial owners of the Sinaloa Cartel and the Primeiro Comando da Capital in Sao Paulo, where their Matarazzo cousins reside. The FitzJames and Alvarez families own the Los Zetas Cartel. The Álvarez and Osorio families also own the Bandidos motorcycle gang. The House of Bourbons are the founders and owners of Banco Santander. The King of Spain has the official right to the throne as King of Jerusalem.
For the first time in my 13 years of filing taxes, I OWE MONEY. I'm hoping there's something I'm missing here... Please help!
According to TurboTax I owe $2600 in taxes this year. I made $22,500 via W-2s for three different serving jobs (1 in VA and 2 in CA) and $19,250 via unemployment (which was not taxed.) How the fuck am I supposed to pay $2600?! I file individually with 1 allowance. I earned income in Virginia and California. I have no children, do not own a house, have not made substantial donations to charity, have no assets other than my 14 year-old car, do not have any investment accounts/crypto currency/stocks/retirement funds, did not receive any 1099 income (besides the unemployment) or gambling winnings, have no student loan debt, and am not blind/native/a victim of natural disastea student/etc/etc/etc. In Virginia, servers earn wages of $2.13 an hour. We also claimed 100% of our tips at the restaurant where I worked. I never received a paycheck because my wages all went to taxes... however it still wasn't enough to cover the spending spree Uncle Sam has gone on on my behalf. So there's THAT. Yes, I was stupid not to tick the little box that tells the state of Virginia to withhold taxes from my unemployment checks. No, I did not think that I was going to receive them for 6 months... Or that I would only be able to go back to work for 2.5 months before getting furloughed when my state shut down again 😑. I'm also baffled over how anyone could believe that an unemployed person could cover the tax on their unemployment. ANYWAY. I don't qualify for the EIC or any other obvious tax breaks and now I'm staring down the barrel of an insane tax bill that is 7 times my current net worth. Am I missing something that would make this number not so scary??
I am 35 years old, make $56,000 ($231k combined), live in Seattle, and work in higher ed administration
Note: I was technically supposed to post this earlier this week, but noticed that no one was signed up for today (plus I was super busy earlier), so I'm posting a bit late, under a throwaway account! Fair warning: I'm VERY verbose, so this will be long! Section One: Assets and Debt As I mentioned above, I make $56k per year as an administrator in higher education. My husband (K) just got a raise to making $155k per year. He works as a lawyer, has been in the workforce for about 12 years. I won't get into too many details but he works for a small boutique firm, not Biglaw. He also sometimes gets a yearly bonus of around $10k-20k but it's not guaranteed or anything like that. K and I have totally combined finances, so the below numbers are for both of us. I have a humanities PhD but I decided to leave academia and find an alt-ac job. My current position has good work-life balance (I never work past 5 pm), but pays terribly and my university is very badly run. I'm hoping to leave higher education all together in the future and am currently enrolled in a certificate program to try to make a career transition to instructional design. The big elephant in the room is that my husband, K, makes a lot more money than me. When we first met, he was paying off massive amounts of student loans and making much less, and I was debt free with a lot of savings, so we both spent about the same amount. Now he makes 3x what I make and we are both debt-free, so the difference is much more noticeable. We do argue about money sometimes (more in the past), but the reality is that I have a humanities PhD and will likely never out earn him, and he knew that when I married him, lol. Because of all the labor I do around the house and in our lives to support him as he works a much more intense job, I was very clear that I believed we should split our finances equally as soon as we got married. We don't have separate accounts and we generally check in with one another whenever we are planning to spend more than $100. This system works for us for now. I also want to address the question about parental or family support. Although I technically paid all of my own bills since I got my Bachelor's degree, my parents supported me a lot by paying for my flights home to visit at Christmas or in the summer as Xmas presents/birthday presents. My parents also paid for my undergraduate degree (and K's parents paid for his undergraduate degree as well). They also gave us about $15k to pay for our wedding. Finally, my parents recently gave me $20k as an "early inheritance." They told me they plan to do this every year (depending on the stock market). We put this money into a brokerage. I don't consider my parents rich, as they both worked hourly jobs in health care my entire life (as a nurse and respiratory therapist - both with only associate's degrees). We never owned a new car, when we went on vacation we stayed in hostels , and shopped almost exclusively at Goodwill. But they scrimped and saved and now they have over $1 million in a retirement account. So I want to acknowledge my financial privilege in that I came from this kind of background. K's parents are similar. Retirement Balance: $186k (combination of 401k, 403b, 457, 2 Roth IRAs, and taxable brokerage account). Equity: None, we rent. Savings account balance: Approximately $45k. Checking account balance: Right now, around 8k. Credit card debt: Right now, around $3k. But we pay it off each month with our checking account balance. Student loan debt: $0. We finally paid off my husband’s law school loans (around $130k), last year. I didn’t have any student loans from undergrad (parents paid) and my MA & PhD were fully funded. Section Two: Income Income Progression: I’ve been working in my current field for 3 years. I started off making about $53k and got tiny 2% “merit increases” twice. Then in July my payroll title was changed, which triggered a required raise of about $2k. (I am dramatically underpaid). Before my current position, I was in academia. I worked as a visiting assistant professor for one year at my alma mater (made $50k for 9 months of work) and before that I was a graduate student for 7 years. I was paid $18k-21k in stipends each year and my tuition & benefits were covered. Luckily, I lived in a very low cost of living area and this was enough for me to live on without going into debt. I got my PhD in 2017. Before I was a graduate student, I taught English in Japan for three years and made around $36k per year. In high school and college, I had random jobs that provided grocery/spending money, but I was lucky enough to have parents that paid my tuition and my rent in college. I’m currently trying to make a career change (as you will see in my diary) and enrolled in a certificate program which runs from Autumn 2020 to Spring 2021 in order to help with that. Main Job Monthly Take Home: $7,634. This probably seems low relative to our joint income, but we max out our 401k (K) and 403b (me). I work for the state government, which means I’m also eligible for something called a Deferred Compensation Plan (457b). This is basically the same as a 401k but you can withdraw contributions and gains from the account at any age without penalty (of course, you still have to pay taxes). I also max this out, and the limit is the same as a 401k/403b - $19.5k. Also this number is before K’s raise is accounted for. It won’t increase until his end of February paycheck. Other deductions - I have health insurance taken out (about $80 a month for me, K’s firm covers his premiums) and taxes. WA has no state taxes, so it’s only federal taxes. I used to have to pay $50 / month for a bus pass (K's was free), but I don’t pay any longer because I’m working from home during COVID. Final note - the sum I mentioned in the headline includes a variable bonus my husband gets. My base pay is $56k and his is $155k (as of February 1). This year he also got a bonus of $20k, which is set up a bit strangely. About $4k of this was structured as a 3% matching contribution to his 401k and the rest was taxable income. In small law firms, it’s unusual to get any 401k match so this was nice. Side Gig Monthly Take Home: None. Any Other Monthly Income Here: We get some interest from our savings account… like $25 a month. Section Three: Expenses Rent: Rent comes to approximately $2,050 total for a one-bedroom apartment. Rent itself is $1886, then we have pet rent ($25 per month), bicycle parking ($15 a month) and water / sewage / gas, which is usually $120-150 (variable cost). Renters insurance: $157.76, paid annually. $13 a month. Retirement contribution: In addition to the 401k, 403b, and 457, which all come out before taxes, we max out our Roth IRAs. That means $500 each per month per person (for a yearly total of $6k each). As I noted up top, we match out our 401k and 403b (19,500 each) and our 457. My employee also offers a 7.5% match. K's employee offers a 3% match but it is included in his yearly bonus so it's not guaranteed (confusing). Savings contribution: We put $500 per month into our emergency fund. We also put about $860 a month into our “sinking fund,” which covers large and small annual or sporadic purchases such as vacations, gifts, Amazon Prime renewal, car insurance and renters insurance, etc. Investment contribution: $875 per month into a taxable brokerage at Vanguard. In total, we save about 47% of our gross income. We can do this because we keep our housing cost low relative to our high income, we don’t have any debt remaining, we don’t have any kids or parents who need financial support, and we’re very privileged in a lot of ways. We are hoping to FIRE within 10 years. Debt payments: None. Donations: We budget $100 per month for donations, which includes one-time donations as well as some reoccurring donations. My husband does pro bono work as well. I would like to increase this by quite a bit, but I still have a hard time budgeting for donations because I spent 7 years living on approximately $20k a year. To go from that to making more than 10x that amount within 3-4 years is obviously something that I am very privileged for, but it is still hard for me emotionally to comprehend at times. Electric: ~$50-100 (billed every other month) Wifi/Cable/Landline: An extortionate $87.12 for slow internet that only works for Zoom calls about half the time. Do I really live in one of the tech cities of the future? Cellphone: $170 (This includes both service and paying off two new iPhones. We could have paid them off up front, but it was actually cheaper by like $50 to go on a payment plan.) Subscriptions: BritBox ($7.70), Spotify ($16.50), HBOMax ($16.50), We Hate Movies Patreon (my favorite podcast - $8.81). My parents pay for Netflix and my sister pays for Hulu, and we all share. Gym membership: None. K and I both run and do yoga with YouTube videos. Before the pandemic, we went to yoga classes pretty frequently in person. I’d like to do some online synchronous yoga classes but find it hard to make time. Pet expenses: Varies, but I budget $50 per month and also include an emergency fund for my cat’s vet bills in our sinking fund. She’s 11 years old and probably asthmatic, so I know her vet bills are going to increase over time. Car payment / insurance: We own our car outright. Insurance billed yearly is $2,097, about $174 per month. Regular therapy: $0 Paid hobbies: Nothing regular, sporadic language classes and art supplies. Other expenses: Right now I’m doing a certificate to hopefully help with a career change. The total cost for tuition is about $5k and we already saved it up (included in our 'sinking fund') basically through spending less during the pandemic. I’ve paid two quarters so far, and the last quarter (due in March) will be a bit more - about $2.3k. __________ Day 1 Morning: I wake up at 5:30 am. Ever since the pandemic, my sleep schedule has been shot. At first, I was so happy not to have to leave the house at 7:15 for my 45 minute bus commute and I slept in a lot. But the stress (and maybe getting old?) has made me an early riser, no matter how much I try to sleep in. I do value my early mornings with just me, my cat, and my coffee, though. I start work at 8 am and begin by triaging my emails. I have a bunch of deadlines this week, so it’s busier than usual. My job tends to be very seasonal, and sometimes I have a ton of work and sometimes I have none and can work on other longer-term projects. I have a piece of toast for breakfast and place a Whole Foods delivery order for the following day at 10:30 am. We made a meal plan and put everything in the cart the day before ($117.36, including tip). Afternoon: I have my lunch break from noon to 1 pm. It doesn’t really matter when I take my lunch break, since I’m salaried, but the others in my office are hourly so in the before times we used to always close our office during the same time. I have a piece of leftover delivery pizza and some spinach risotto that I made a few days earlier. I also have half a brownie – the last one from a batch I made a few days ago (K gets the other half). He also has leftovers for lunch. I should say at this point that both K and I are lucky enough to have been working almost entirely from home since early March. An area near Seattle was one of the first places to get hit by COVID-19, and my state and both of our employers have been taking it very seriously ever since. Working from home hasn’t always been easy since we live in a 600-square foot apartment. Also, there is a three-story townhouse being built directly next door to us and I can hear the pounding in my dreams at this point. Around 2 pm, I go for a 2-mile run. I feel like some money diarists tend to toss off things like “oh, I went for an easy 7 mile run,” at the drop of a hat, so I want to be clear – running for 2 miles isn’t easy for me; it’s exhausting, annoying, sweaty, and generally gross. Also I am very slow. But it has kept me sane during quarantine. Meanwhile, my husband goes to our local pet store to get an enzymatic cleaner (our cat peed in one of our suitcases… I think it’s probably a lost cause, but it was basically brand new, so worth a try) and special weight-loss cat food. Our cat is an 11-year-old rescue from the Humane Society and she is a chonky girl. We had to sign a waiver when we adopted her, saying that we understood that she was very overweight, lol. Our vet recommended a special diet food, rather than just restricting her intake as we have been doing, so we will give it a try ($78). My husband also stops buy our local wine store and picks up two bottles. We’ve been doing a dry January, so this will be our first drink for a while ($27.53). I have a phone interview scheduled for 4 pm – just a preliminary interview with an internal recruiter. It’s the first ‘corporate’ job interview I’ve ever had, since I’ve been in academia my entire life. I’m trying to make a pivot into instructional design / training and development. I’m just excited to get an interview. It seems to go pretty well, but who knows. They tell me they will probably get back to me by the end of this week. Evening: My husband whips up a random meal of fridge remnants – pesto pasta with sausage and a fridge salad with feta and bell peppers. It’s pretty tasty with a little Sauvignon Blanc. During dinner, we play a card game we call gin rummy, although it bears no resemblance to the actual game. After dinner, I make a chocolate cake with orange buttercream frosting and we watch Cobra Kai. Daily total: $222.89 Day 2 Morning: Up early again, a piece of toast for breakfast (very exciting). We’re out of eggs until our Whole Foods order arrives. I’m working on creating some tedious but necessary spreadsheets this morning. Noon: Our Whole Foods order arrives around noon. Excitement! They’ve given us a half-rotten bag of romaine lettuce and substituted pecans for hazelnuts. I should probably just double mask and go to Trader Joe’s myself (our regular spot, only a 5-minute walk from my apartment). I’m just getting anxious about these new variants. I have leftover meatloaf and spinach risotto again for lunch. Lots of meetings and more organizing spreadsheets in the afternoon. Around 3 pm, I go for my daily ritual - a 20-minute walk around my neighborhood. It’s still raining slightly but I need to get out. Halfway through the walk, I get an email from my apartment manager telling me the apartment will no longer accept debit card payments, direct deposit, or credit card payments for paying rent. In other words, only checks or money orders (?!). Ugh. Our lease is up in 4 months and we will not be renewing our lease. Our last apartment manager was a gambling addict who may have been stealing people’s identities, but by God, he kept things working. Ever since they fired him, this place has been going downhill. Evening: I check my bank statements to update my budget spreadsheet and realize that I have been billed the wrong amount of rent. They actually charged me less than they should have. I don’t trust my apartment manager not to start charging me a late fee or something for this, so I call them up. They are baffled by how to fix this, which you would think would be the one thing you would want to get right, if you’re renting out apartments. K cooks dinner – steak with a Roquefort sauce and glazed brussels sprouts. It’s from a French cookbook we recently bought and it is delicious. I work on classwork for my certificate program while he cooks. After dinner, I do the dishes and buy the 13th season of RuPaul’s Drag Race. I watch the first episode – lots of shocking twists and turns! I’m planning to watch the rest of the episodes together with my younger sister, M ($22.01). Daily total: $22.01 Day 3 Morning: K has an 8 am dentist appointment, so he takes off early. He already paid for the work last month, so there’s no charge. I have a piece of toast for breakfast and get to work checking my emails. It’s 8:20 am and the construction crew building a townhouse next door is blasting mariachi music. I’m glad someone is having fun. At least the sun is coming out. Someone at work has made a critical error, but it wasn’t me, thank God. I was the one who found out about it, but it’s still going to cause a big old headache for me. I’m ready to be done with this job. K and I go for a run so that I can exhaust myself enough to no longer be furious about said careless error. Noon: I have leftover spinach risotto and meatloaf again – exciting. I’m busy at work but frankly, not a lot going on other than that. Still no word about fixing my rent payments. I’m not really willing to pursue this any further at this point. Evening: I start making chili (Turkey Chili from the NY Times) and cornbread (from my new cookbook, Jubilee). K is doing some work on our investments when he announces that, somehow, a transfer was scheduled from our checking account to our savings account of $55k (?!) We obviously don’t have $55k in our checking account, so we start frantically trying to figure out what’s going on. Numerous phone calls later, we still don’t know if that was a hack, if my husband somehow mistakenly scheduled the transfer himself, or if the bank messed it up. Either way, it doesn’t seem like any harm was done since the bank with our checking account just declined the transaction. But it seems really strange and worrisome. We get to work changing the passwords on all of our accounts, just in case it was some kind of hack. After dinner (and chocolate cake), I have a Zoom happy hour with a local friend. We occasionally see each other outside but it’s nice to have a longer chat from the comfort of our living rooms. We both love murder mysteries, so we signed up for a service where a company sends us letters with clues and we try to solve the mystery together. It’s a fun way to stay connected and look forward to something during the pandemic. The service costs about $15 per month, but I paid for it in lump sum for 3 months, so it’s not included in my budget above. I drink some wine and we vent about work (we work at the same place) before getting started on the puzzle. Daily total: $0 Day 4 Morning: I sleep in a bit, which is nice. Get up around 7 am. My parents are both getting their 2nd vaccine today – they’re both in their 70s and I am so relieved. I send my mom a “congratulations on being vaccinated!” text and we chat for a bit. I have leftover cornbread with honey and butter for breakfast – soooo good. Work is not particularly exciting today, but someone sends me a last-minute request for something that does not need to be so urgent. I feel annoyed. Still no word from the interviewers on Monday, and I’m beginning to suspect I wasn’t selected to move forward. Too bad. K pays for a Wordpress website for the year (it’s a work-related website, but sadly his work doesn’t reimburse him). It costs $92.48. Noon: The mariachi music is particularly loud today. I stand out on my balcony in the sun for a while and watch the workers. It’s been interesting seeing a house go up next door in real time, especially since I’m at home all the time. The workers are balancing on the top of the third story wall without, as far as I can see, anything like a safety line. It seems unsafe, but I presume they know what they’re doing. We booked a cabin for the upcoming weekend in the Hood Canal region of Washington to do some hiking and birdwatching. I want to be as safe as possible and not go to any grocery stores or risk spreading COVID in any way while I’m there, so I place another grocery order with Whole Foods just for some special treats for the weekend. The cabin has a small kitchen and a grill, so we’re planning to make a fancy steak salad on Saturday. I order chips and hummus, some fancy cheese and meats, Tate’s cookies (I’ve heard a lot of good things about these), a baguette, and the ingredients for the steak salad. I also order a few staples I forgot in our last order, like sweet potatoes, more coffee, and half and half. It comes to $87.41, including tip, but that does include like $30 worth of steak. For some reason, I can’t order a small amount of steak online, so I’m planning to freeze half of it for later. (I include this purchase in our vacation fund budget, rather than under our regular grocery budget). Around 2 pm, K makes a quick trip to our local wine store to buy an Oregon pinot noir and some port to enjoy at the cabin ($59.45). This store has an outdoor walk-up counter where you can tell the owner what you’re looking for, and he brings you some options (the store is way too small to allow customers to enter during Covid). It’s fun to chat with another human being, even briefly. Evening: After work, we spend a little time rebalancing our investing and retirement accounts. We decide to put more money into bonds and a little bit into REIT’s as a hedge against a potential crash or recession in the future. Then I start making dinner – Broken Eggs (Huevas Rotas) from the NY Times cooking site. You basically cook the potatoes in a skillet in water, spices, and olive oil, and then sauté them to crisp them up once the water evaporates. Then you add onion, lots of garlic, and finally some eggs. It is delicious. I eat it with leftover cornbread while watching RuPaul’s Drag Race season 13 with my sister – we watch the first two episodes. It’s full of twists and turns. A note about this – we have an elaborate procedure for watching shows together developed during quarantine whereby we start the show at the same with an earbud in one ear, while FaceTiming. I also have chocolate cake, of course. Later, I get an email that I’ve signed up for HBO on Amazon Prime. I definitely have not. I text my mom, who shares my account, and she tells me she signed up by mistake. I cancel right away and luckily they won’t charge us for it. Meanwhile, K is doing an online Japanese language class over Zoom. He’s been interested in learning ever since we went to Japan last January. I lived in Japan for 3 years so I was able to take us around to a lot of more obscure places and he really enjoyed the trip – it was a blast. K starts a YouTube yoga class (from Do Yoga With Me – my favorite channel) and I join him for part of it before bed around 10 pm. Daily total: $239.34 Day 5 Morning: I get up around 7 am and we go for a run first thing. I prefer running early in the morning because there are fewer people to avoid during COVID. We do a different route today – it’s longer (3 miles) but has fewer hills. It’s a slog, as always, but I feel good when I get back right around 8 am. I jump straight onto my computer to start checking work emails and my husband makes us avocado and egg toast for breakfast - it is absolutely delicious. We talk about how our bathroom smells distinctly mildewy (yay for being a grown-up because I guess this is what we talk about now) and we buy two big buckets of DampRid on Amazon ($26.60). I’ve found this to be a necessity in Seattle. Mid-morning, I take a break from work and start packing for our trip to the cabin. Noon: I have leftover potatoes and cornbread for lunch, and my husband has the leftover chili. We finish getting ready to leave and head out right after lunch, taking a half day. The only problem is that I have attend a meeting at 3:30 pm, so we head out hoping to get there in time. Our cabin is near Quilcene in the Hood Canal region of Washington, about a 2 hour drive or a 2 hour ferry ride + drive. We are initially planning to take the ferry both ways, but realize that we mistimed the ferry departure, so we drive the whole way instead. Luckily, there’s little traffic mid-day, and we arrive at our Airbnb around 3:00 pm. The Airbnb is beautiful! It’s a small cabin handmade by the owner, whose house is next door. It’s very rural, with a beautiful view. It’s tiny, but has a little kitchen and a waterfall-style shower with river rocks on the floor. It’s a great place to get away for a short time. Luckily, it also has good reception and I’m able to sit in on my meeting with no problems. My husband also does a little work, and then at 5 pm we’re free! In our planning, we decided to get takeout on Friday night, since the little kitchen isn’t designed for any serious cooking. We call ahead to a local restaurant to order burgers (one of only 2 restaurants in the whole town). It’s around 5:30 pm and the place is deserted. It’s a microbrewery, but they tell us they haven’t been making beer since COVID-19 hit. None of the workers are wearing masks when I walk in, but they put them on when they see I’m wearing one. I pick up our order - a few bottled beers and burgers and fries ($49.52 including tip). Back at our Airbnb, we watch Big Trouble in Little China and enjoy our very messy, but delicious, burgers (it costs $4.39 to rent). The movie is very campy but fun. I love silly action movies, as you will see with my other viewing choices. We wrap up the night in a very exciting fashion, eating chocolate cake and watching old episodes of the original Star Trek. Daily total: $80.51 Day 6 Morning & noon: When we wake up around 8 am, the weather is looking thankfully clear and even sunny! We were expecting rain, so we’re really glad. We decide to go hiking today, and we head out before even having breakfast, with snacks and lunches packed. Our first destination is a hike called Mt. Zion, but unfortunately, we run into enough snow 2 miles before the trailhead that we decide to turn back. We don’t have any traction for our Subaru and don’t want to risk getting stuck on a very narrow mountain road. Instead, we drive another hour or so to the Lena Lake trailhead, a very popular and less strenuous trail. It’s about 7.5 miles roundtrip with 1200 feet of elevation gain. By this time, it’s around 11:30, but luckily there is still parking. It’s a great hike up, and we run into relatively few people. We always mask up whenever we pass anyone, as does about 50% of the people we meet. The others… not so much. Around a mile from the lake, we start to run into snow. It’s turned into a beautiful sunny day, and I’m loving seeing all this snow! It’s a bit slippery, but not too bad. We make it to the lake mid-day, and it’s super jammed – there’s only a small viewpoint accessible, so everyone is crowded in there. I feel a bit uneasy with all the unmasked people, but we manage to find a spot away from the crowd and sit down to eat our lunch of apples, chips, and energy bars. There are a ton of robber jays there (Canada Jays) which try to eat our chips. It is fun watching them, but I’m annoyed to see some kids feeding them – it’ll just make them that much more aggressive. Bad trail manners. On our way back down, we get stuck behind a group of 5 unmasked adults, who refuse to cede the narrow trail to faster hikers. I’m a slow hiker myself, so, to be clear, I’m not angry at slower walkers being on the trail but have some self-awareness and let people pass! especially if you’re going to go hiking in a big group during a pandemic! We finally get back down and head back to our Airbnb. Evening: Back home, we explore some of the trails our Airbnb host has set up around his extensive property, and then relax on the deck. The sun is breaking through the clouds and it feels wonderful to sit out in nature and feel the sun on my back. We open up a bottle of wine and have a few pre-dinner snacks (more chips and hummus). For this night, we brought ingredients to make a steak salad. Our Airbnb host has kindly set up a charcoal grill for us, so we grilled the steak and toast some bread on the side. We eat dinner while watching the truly terrible Jean Claude Van Damme movie Bloodsport and finish up the very last of my chocolate cake. It’s amazing that anyone ever let Van Damme act… or should I say ‘act.’ I also have a Tate’s chocolate chip cookie or two, accompanied by a little port. My husband and I are truly very old people at heart, so we finish up the night watching a few episodes of Columbo. Daily total: $0 Day 7 Morning: Unfortunately, K had insomnia last night, so he sleeps in pretty late. I drink coffee in bed and enjoy looking at the view out our big windows. Once he’s up, we get packed up and write a thank you note for our host. It was a great stay. One of my big hobbies is birding and K enjoys wildlife photography, so we go out to look for some lifers! (The first time you see a new species of bird). Did I mention we are very old people in (relatively) young bodies? We first go to Dosewallips State Park and see some bald eagles, great blue herons, lots of various ducks, and a flock of Canada Geese, which, strangely, includes a domesticated gray goose. He’s much larger than the Canada Geese and seems to be watching over them. It’s kind of cute. Unfortunately, a lot of the birds are too far from shore to be seen clearly. Our next stop is Point No Point (I love all the sad & disappointed names that early Westerner explorers gave places in the Washington/Oregon coast), a popular birding spot. We see a ton of birds here, and I can understand why it’s so well-known - Red-Breasted Mergansers, Western Grebes, Common Goldeneyes, Pacific Loons, and a few others I can’t identify yet. Most excitingly though, we see a whole pile of otters! They’re lounging around together on a rock just offshore and a ton of people are watching. We watch as they all slip off the rock and go hunting in the shore. It’s my first otter sighting in the wild, and it’s so cool! We also see some seals and possibly a sea lion. It’s a great spot for wildlife. We eat some snacks (hummus, chips, some sliced meat & cheese) before we head out. I really want to come back to this area another time and explore further, but K has decided that we need to get back home in time for the Big Game. We take the 3:00 pm ferry back to Seattle ($16.40) and get home around 3:45 pm. I veg out at home while my husband watches football. He’s a Patriots fan but he still loves Tom Brady (??) so he’s happy to see Florida win. I don’t understand sports team loyalties at all, but whatever, I’m glad he’s happy. We order from a new Indian place called Spice Box and get vindaloo, roganjosh, and vegetables pakora – so tasty ($53.96). Happily, there’s enough left over for lunch the next day, since I have no plans for what we will eat yet! I’m really dreading work the next day, as I know that it will be obnoxious. I want to get out of my job so badly, but it doesn’t look like I’m going on to the next interview stage for the job I interviewed no back on Monday. I’m feeling kind of down about it. I try to stay positive and promise that I’ll apply for at least 2-3 new jobs next week. I bake up some frozen cookie dough I had in the freezer and feel sorry for myself. We end the night by watching another episode of Columbo. Daily total: 70.36 Food + Drink: $395.23 Fun / Entertainment: $26.40 Home + Health: $26.60 Clothes + Beauty: $0 Transport: $16.40 Other: $170.48 Grand Total: $635.11 I think this week was pretty normal for us. Obviously we spent a bit more than usual due to the weekend cabin trip, but nothing outrageous. Our largest consumer spending category is definitely food and drink – we live in a very busy area of Seattle with tons of restaurants and bars so believe it or not, we actually used to spend even more on eating out. We still try to support our local places by getting takeout or delivery during the pandemic and even occasionally getting a few drinks outside. I spent more than usual on groceries due to stocking up for the weekend away.
Online gambling winnings are not taxed Denmark. Players can gamble at land based casinos or online without paying taxes on winnings. The casino operators in the country are responsible for paying 45-75% taxes on their gross gaming revenue. The oldest (and one of the most elegant) casino in the country is Casino Marienlyst in Helsigor. I’ll cut right to the chase: yes, you do need to pay federal taxes on gambling winnings in the United States. This is especially true when you net a big win and receive a W-2G form. According to the IRS, a gambling establishment should issue a W-2G when you win an amount that’s subject to federal income tax withholding (24% of win). Table games in a casino, such as blackjack, roulette, baccarat, or craps are exempt from the W-2G rule. This doesn’t mean you don’t have to claim the income and pay taxes on it if your winnings aren’t enough to warrant the tax form. It just means that the institution won’t send a Form W-2G. You can deduct your losses…to an extent In other words, you want to pay your gambling winnings tax on times, although some people will not let the law stop them. Consequences of Not Claiming Casino Winnings on Your Taxes. The answer to this question depends on several things. For the most part, you will have to take into consideration the amount you have failed to report, your overall earnings, as well as your overall tax history Gambling income plus your job income (and any other income) equals your total income. Fortunately, you do not necessarily have to pay taxes on all your winnings. Instead, if you itemize your deductions, you can claim your losses up to the amount of your winnings. *Note, under the new tax reform law, the gambling loss limitation was modified. Is Gambling Taxable In The UK? No, gambling is tax free in the UK. While players in some countries such as the USA, France, and Macau have to deal with gambling taxes between 1% and 25%, bettors in the United Kingdom have the privilege of keeping the entirety of their winnings. Your gambling winnings are generally subject to a flat 24% tax. However, for the following sources listed below, gambling winnings over $5,000 will be subject to income tax withholding: Any sweepstakes, lottery, or wagering pool (this can include payments made to the winner (s) of poker tournaments). In contrast, nonresident aliens are generally taxed only on income earned or sourced in the U.S. If a nonresident alien visits the United States and wins the lottery, prizes, or has gambling winnings, those earnings are generally subject to U.S. withholding taxes at source. As stated earlier, the federal government levy tax on both cash and non-cash winnings. Returns gotten from wagers placed on bingo, keno, lottery, raffles, sweepstakes and slots including non-cash winnings like trips and vehicles are taxable. It is the Fair Market Value (FMV) of non-cash winnings that are taxed. You can't reduce your gambling winnings ($500) by your gambling losses ($400) and only report the difference ($100) as income. If you itemize, you can claim a $400 deduction for your losses, but...
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