April Results- Tax Day Surprise

By: pgt4jc
Published: May 16th, 2017
The good news is my 2016 poker year was awesome!!! The bad news was the tax bill. I came home the Wednesday night before taxes were due and in my mailbox was a package with my completed taxes from my accountant. I knew I was going to owe some money due to having another great poker year but I was stunned to see a bill for nearly $11,000! Unfortunately, because of some of the write-offs I can take as a pastor, I couldn’t “double-dip” so my poker income had almost nothing to off-set as write-offs. In other years this has been partially compensated for because of my wife’s business, but poker has been going so well that basically she has not had to work (or at least has been able to be more selective in taking on new business).

Again it was a bit of a shock but thankfully we intentionally live off of only 60% of our income anyway so we had plenty of money saved up for emergencies and rainy days. So Uncle Sam got way more than I thought he would but even in that I’m thankful. The last results I saw showed that only about 7% of poker players even show $1 profit per year. So to have enough profit to have a tax bill of 11k on it means I’m truly blessed to be able to play a game I love in my spare time and make enough to give my wife and I a lot of freedom we wouldn’t have with strictly my pastoral income.

As for my play in April, I again continued in the midst of some serious run-bad. It wasn’t quite as bad in April and would have been basically a break-even month had I not fired 2 bullet’s in the Million Dollar Guarantee on WPN the last day of the month. However, the run bad has lasted for a few months now and I’m sure is impacting my game in other ways so I’m in the midst of taking some steps to remedy that so if the run bad continues, I’ll at least minimize it as much as possible.

Funny thing is as I look back at last year, I did ok the first few months then had a similar streak of run-bad through the summer then turned it around at the end of the year to be able to have a huge tax bill. 2015, had a similar stretch as well. So I’m not too worried about it but I do want to make sure I’m not making it any worse than it needs to be.

April was a light volume month due to some church obligations and some travel. It also marked the first time in years that I had 0 wins in a month. In fact, I had 0 top 3’s so thus my comments from above about how I think the run-bad is now also resulting in some play-bad.

April also marked my 5th year on the Merge Network. Very grateful to have been in profit all 5 years with each year increasingly being better than the previous. Hoping to keep the streak going. In any case, here are April’s results….

132…Tournaments Played
48…. Cashes (36%)
5…. Final Tables
0....…Top 3 Finishes
0……Wins

$7734.97 in total cashes (-13.72% ROI)

Now onto my Merge up-date. For those not familiar with my blog, Merge stopped allowing Pocket Fives to track scores on September 5th 2016, so what I’m doing here is tracking where I would have been had they not stopped tracking. I do play some on other networks but Merge gets out 95% of my volume so I thought it would be fun and motivating to keep things going as if though it never stopped. I use Poker Dominator to track all tourney’s so these are the most accurate and up-to-date numbers as of the last day of the month.

Merge Lifetime Total: $ 416941.99

Career Lifetime Total: $479556.46

Career number of Cashes: 3768

Follow my monthly results in real-time by following me on Twitter: @YourPokerPastor

Thanks for reading...please post a comment with your thoughts or anything you'd like me to address in future blogs.

Gilbert

    Comments

    1. nice work bud. Keep it up!
    2. Good job Sir!
      I'll take a look at your other posts, but let me ask here as well, you can PM the reply if you like.
      How do you manage playing poker (ie: gambling) in your conscience being a man of the church?
      I'm asking this because I have some second thoughts on playing poker vs my religious beliefs.

      Thanks!
    3.  
      Originally Posted by _ASA_

      Good job Sir!
      I'll take a look at your other posts, but let me ask here as well, you can PM the reply if you like.
      How do you manage playing poker (ie: gambling) in your conscience being a man of the church?
      I'm asking this because I have some second thoughts on playing poker vs my religious beliefs.

      Thanks!

      Here is an article that was written about me 2 years ago where I address some of those questions. http://betondrew.com/believe-and-you-shall-achieve/
       
    4.  
      Originally Posted by pgt4jc

      Here is an article that was written about me 2 years ago where I address some of those questions. http://betondrew.com/believe-and-you-shall-achieve/

      Thanks a lot Gilbert!
      That was an awesome read in terms of poker & religion.
      While reading I thought that I've heard some similar sentences from Alex Fitzgerald, and seeing his name as one of your coaches confirmed my diagnosis there.

      I'm a Muslim and the Holy Quran mentions gambling in 3 "verses".
      All of them are mentioned with "alcohol" (wine to be precise):

      Here are summaries of them:
      2:219 Alcohol and gambling both have some benefits for humans, but their sins exceed those benefits.

      5:90: "O you who have believed, indeed, intoxicants, gambling, [sacrificing on] stone alters [to other than Allah ], and divining arrows are but defilement from the work of Satan, so avoid it that you may be successful.

      5:91: "Satan only wants to cause between you animosity and hatred through intoxicants and gambling and to avert you from the remembrance of Allah and from prayer. So will you not desist?"

      I think there is a HUGE warning sign here for humans, but if I can keep it at "entertainment" level as you have mentioned, and don't let it get me for my duties to God, then I might have a way out. A slim chance maybe, but we'll see :)

      Thanks again!
    5. Tax bil = 70k. Cry for me. LOL
     
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