Inspired on many levels from events of the past two weeks. I will "mark my words" create a future of prosperity and self reliance. Although there's a few months left in this year, I shall push forth and start a project, very worthy of my time and energy.

Inside jokes:

• flip flops

• We look good, but not you guys

• And what's wrong with you?

 

I am thankful for what I have and the people in my life - I can not dwell on the things I don't have or the strike against me, no one cares!

 

People who help themselves will recieve more help from others once they see you are "making it" Give what you have to others, it really will come back to you in time.

 

Looks like this works -  just seeing if this will post and if a smart phone ca read the screen.

If you wouldn't subscribe to your own products or services then WHY would you think your customers would use the product. The notion that there is a magic button you can press to make your business run perfect or that there is only one way to promote that business (on-line or newspaper). Put all your eggs in one basket and you'll see what happens. Diversify the process of advertisement and quantify the results to gain a better understanding of "Why" the customer walks through your doors and give you his business. In learning the needs of the client you are able to provide the product or service they want and are willing spend their money on. . Ex. A Restaurant owner doesn't eat the food he would sell to his own customers. Or an Insurance sales man doesn't use his own company's policy to cover himself.

Recently the laws in Florida were passed and will change the amount of money a player can "buy in" for a poker game. These laws will go in effect on July 1st 2010.

 

 

Remember bigger buy-ins will lead to bigger pay outs. With more money also comes the need to pay the IRS the taxes you owe, if you hit the final table and won.  The example of a possible problem would be, lik Mike Mizrachi just had here.    Paying you taxes on winnings is needed, just as making sure you have deductions to off set the income.

Consult a tax professional to assist you with these questions, but also understand the accountant Mike had might have been a bad choice. Do you homework!

 

 

• Use  separate a checking account to pull your bankroll from and you'll still need to show where THAT money came from.

• Set a budget for how much you will spend in tournaments / cash games and stick to it.

• Keep track of travel and milage as expenses. Hotels and food could be considered as expense too as long as it deals with your poker playing business. ( Check with a CPA)

• Partners or backers  that you have an aggreement  weather friends or not, there should a something in writing to  protect the  friendship and business relationship.

• Remeber if you can to get a receipt for you buy-ins at the casinos, it can't hurt.

 

 

 

On a side note here is  a link to an Associated Press story written by Christopher Willis, the poker players are polictical people as you will see.