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Avoiding the deadly W2...

Discussion in 'Misc. Vegas Chat' started by CasperGemini, Apr 11, 2013.

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  1. CasperGemini

    CasperGemini Newbie

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    Any advice on how to avoid W2's to stay under government radar? (just doing a dare from a bud of mine :) )
     
  2. Joe

    Joe VIP Whale

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    This is kind of a duh:poke:
    Don't play any machine that has a potential payout over $1,199.
     
    Christmas
  3. Kickin

    Kickin Flea

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  4. shifter

    shifter Degenerate Gambler

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    the obvious answer is only play table games. that's a big reason why I don't play any HL slots even just for fun. don't want to deal with the hassles of W2s on every other hit. if they just gave you one W2 at the end of a session if you were up, I wouldn't mind so much.
     
  5. vegasvette

    vegasvette Low-Roller

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    I love how people refer to W2'G's as evil. Folks, it means you won over $1200 in a single pull. If you play slots, be greatful for it, and enjoy most of your winnings.
     
  6. shifter

    shifter Degenerate Gambler

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    that's because it's totally evil. it's all phantom income because it's a negative expectation game and you usually have more losses than wins at the end of the year. also $1200 has been the value since way back when $1200 could buy you a nice brand new car. inflation adjusted it should probably be at least 10x as much. so it's nothing more than a big, outdated, pain in the ass, greedy, money grab. basically the definition of evil.
     
  7. alexanbo

    alexanbo High-Roller

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    Plus depending on what state you live in, it goes above the line and can screw up benefits as well as your taxes.
     
  8. saintpauljeff

    saintpauljeff VIP Whale

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    I'll gladly deal with that evil if I win $1200 or more on a slot machine! Hot Hot Penny has never netted me anything close to that...
     
  9. hammie

    hammie VIP Whale

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    Like he said.....

    Your "win" is not income, it is from to the losses of others.

    Just like Steve Wynn said when asked "How do you make money at a casino?" He replied "own one".
     
  10. WrongWayWade

    WrongWayWade VIP Whale

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    This would be tax fraud and a felony. (I know, I know, they have to catch you.) I'd never use a fake ID for this purpose.
     
  11. DeMoN2318

    DeMoN2318 The DERS

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    Holy resurrection Batman!

    I think the fake ID thing was a joke no?
     
  12. JosieCat

    JosieCat VIP Whale

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    Wow, couldn't have said it better myself.

    I mean, sometimes you have more then $1,200 in a machine (I mean, I've never done that :rolleyes2:), and now you have to deal with taxes when you are basically just getting your money back. It would be nice if based on your players card a W2 wouldn't have to happen unless the $1,200 was TRULY winnings.
     
  13. oghuman

    oghuman High-Roller

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    The way this works is so antiquated. If you play with your card, and most people do, the casino knows exactly how much you won and lost each day.
    There is no reason this couldn't be programmed to give you a W2-G only when you win money for a trip. The rest of my thoughts can't be written here because they involve the government.
     
  14. Joe

    Joe VIP Whale

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    With video poker you can never have more than $1,200 in the machine. With TITO, it always spits out a ticket for the difference between your win and $1,200. At least at every Boyd casino I have every played.

    So, if you built up credits to lets say $1,100 and hit a $300 win, (now you are at $1,400) it will spit out a ticket for $200. You can continue on like this all night, as long as there are no single wins over $1,199. Once that happens, then the W2G comes into play.

    I only know video poker, but I would think slots follow the same rules, if they are TITO?
     
    Christmas
  15. Kickin

    Kickin Flea

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    LOL yeah...the link I posted is dead now but it was to a template for McLovin's fake ID from Superbad.
     
  16. wormhole

    wormhole Low-Roller

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    I had a nickle slot machine at the MGM Grand spit out a $1600 TITO 3 or 4 years ago, but I inserted a $635 TITO to start with (hit a bonus round for $1000 after a few max bet spins), so it was a gain of slightly under $1000, not tripping the W2-G threshold.
     
  17. Kickin

    Kickin Flea

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    Must be a Boyd thing. I often have well over 1200 in the machine and cash out well over that amount on single tickets.
     
  18. JosieCat

    JosieCat VIP Whale

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    No, I mean sometimes you've LOST $1,200 in one machine and then hit something for over $1,200, basically just getting your money back.
     
  19. DeMoN2318

    DeMoN2318 The DERS

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    Hmmmm this is very interesting...so if you are at $1199 on your machine and you hit $2 it will print a $1 TITO and leave you $1200 in the machine? what is the point of this? Can I not insert more than $1200 into a machine?

    Only justification I can think for this is that they dont want the people at the cage to think a $1400 TITO requires a W2G...but other than that it seems like a waste of paper...
     
  20. SH0CK

    SH0CK Stylin' and Profilin' Quasi Tech Admin

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    Any win over $1200 locks up the machine and requires a hand pay. I doubt the cage would think twice about a large ticket.
     
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