NBA FORUM

Comments

  • Timmayer33

    good evening all,
    I am going to do a 2 day set the beginning of this week. it will be very similar to last week. i will give first shot to previous investors. I am looking to sell up to 60%. i will post links to all tournaments entered. Once i confirm your percentage PayPal will need to be received by Tuesday at noon CST. Here are the games included.
    It is a total of $378 in entries. It will be $38 for 10% / $19 for 5% / $3.80 for 1% ect
    Tuesday 11/18 $25 NBA Slam – 4 entries $100 $10 NBA Rebound – 4 entries $40 $5 NBA Layup – 4 entries $20 $2 NBA Shot – 4 entries $8
    Wednesday 11/19
    $25 NBA Super Slam 350k gtd – 5 entries $125
    $10 NBA Rebound – 5 entries $50
    $5 NBA Layup – 5 entries $25
    $2 NBA Shot – $10

    Moderation Note:

    Hey guys,

    This is something we are trying on the RotoGrinders forums, and this will be case by case. There was a lot of interest in this post by driverseati on 2+2, so we want to step into this slowly and see how it goes.
    Here is our disclaimer:

    Neither RotoGrinders.com nor its moderators take responsibility for transactions in this thread. RotoGrinders.com does not endorse this poster and all purchases are made at your own risk. RotoGrinders.com will also not facilitate any transactions. Be sure that you have a full understanding of any potential tax consequences.

    To be clear, we do not know Timmayer33. Any transactions are done at your own risk. Moderation@Rotogrinders.com with any questions.

  • Timmayer33

    Otcprofits – confirmed/received
    Brahma21- confirmed/received

  • ItzJamesFTW

    Man, I don’t want to ruffle the waters or anything here, but I am kind of surprised that mods are allowing this.

  • louiescards

    DK KoTH winner

    • Moderator

    @ItzJamesFTW said...

    Man, I don’t want to ruffle the waters or anything here, but I am kind of surprised that mods are allowing this.

    This is a case by case basis. Timmayer33 was allowed to do this last week and handled everything exactly as you would hope. The approval comes from RG prior to a user posting. If they don’t get pre approval we pull the post until it is decided on.

  • stevietpfl

    Morning Grind co-host, Lead NASCAR Analyst

    • 223

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    • 2015 FanDuel MLB Playboy Mansion Finalist

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    @Timmayer33 said...

    good evening all,
    I am going to do a 2 day set the beginning of this week. it will be very similar to last week. i will give first shot to previous investors. I am looking to sell up to 60%. i will post links to all tournaments entered. Once i confirm your percentage PayPal will need to be received by Tuesday at noon CST. Here are the games included.
    It is a total of $378 in entries. It will be $38 for 10% / $19 for 5% / $3.80 for 1% ect
    Tuesday 11/18 $25 NBA Slam – 4 entries $100 $10 NBA Rebound – 4 entries $40 $5 NBA Layup – 4 entries $20 $2 NBA Shot – 4 entries $8
    Wednesday 11/19
    $25 NBA Super Slam 350k gtd – 5 entries $125
    $10 NBA Rebound – 5 entries $50
    $5 NBA Layup – 5 entries $25
    $2 NBA Shot – $10

    Hey guys,
    This is something we are trying on the RotoGrinders forums, and this will be case by case. There was a lot of interest in this post by driverseati on 2+2, so we want to step into this slowly and see how it goes.

    Here is our disclaimer:
    Neither RotoGrinders.com nor its moderators take responsibility for transactions in this thread. RotoGrinders.com does not endorse this poster and all purchases are made at your own risk. RotoGrinders.com will also not facilitate any transactions. Be sure that you have a full understanding of any potential tax consequences.

    To be clear, we do not know Timmayer33. Any transactions are done at your own risk.

  • ItzJamesFTW

    @louiescards said...

    This is a case by case basis. Timmayer33 was allowed to do this last week and handled everything exactly as you would hope. The approval comes from RG prior to a user posting. If they don’t get pre approval we pull the post until it is decided on.

    Everything looks to be handled very proficiently. It’s an interesting concept. Thanks for the info.

  • steelbus

    I put in on the other thread for 5%, please let me know if I am in. Thanks.

  • Elmacho

    Any spots still available?

  • danliebl

    Out of curiosity, if you spike a big one, and each share takes home say over $1000, how are taxes handled?

    Best of luck to you and the group!

  • Jk1492

    Payment made. Thanks.

  • ZClothier

    @Timmayer33 said...

    Thank you all for the interest. Most of the original investors are in for the 2nd time around. I will be opening up a set of games for Friday / Saturday for new investors. Here is what I have for Tuesday and Wednesday.
    Jonathan627 11% paid
    Anonymous 10% paid
    Jimmyrad 10% paid
    Bhdevault 10% paid
    Skankinmat 5% paid
    Einars 5% paid
    Zclothier 1% reserved
    Sabersrock 1% reserved
    DevonD9 1% reserved
    JK1492 15% reserved

    If on reserved please send paypal by tomorrow at noon to timmayer33@yahoo.com

    Payment sent

  • Stewburtx8

    • 2012 FanDuel WFBC Finalist

    @danliebl said...

    Out of curiosity, if you spike a big one, and each share takes home say over $1000, how are taxes handled?

    Best of luck to you and the group!

    He could just send a 1099 to each of the winners.

  • danliebl

    @Stewburtx8 said...

    He could just send a 1099 to each of the winners.

    I am asking this to be clear, not to try to get people worried about selling shares, i think it is great fun.

    so lets say Timmayer33 wins $20,000, and he has sold 50%, so he ends up paying out $1000 per 5% share. If he sends out 1099’s for each person, that would be enough so that he is paying taxes only on the 10K he kept, and not the 20K he won? (hope that made sense)

  • Stewburtx8

    • 2012 FanDuel WFBC Finalist

    @danliebl said...

    I am asking this to be clear, not to try to get people worried about selling shares, i think it is great fun.

    so lets say Timmayer33 wins $20,000, and he has sold 50%, so he ends up paying out $1000 per 5% share. If he sends out 1099’s for each person, that would be enough so that he is paying taxes only on the 10K he kept, and not the 20K he won? (hope that made sense)

    Correct. He would still have to claim the $20k on his tax return because that is what Fanduel will send to the IRS in his name. But then he could deduct the $10k he paid out as expenses/deductions. Each individual would then have to claim their respective amounts they won. The IRS would have the paper trail of 1099’s from Fanduel to Timmayer33 and from Timmayer33 to each of his investors.

    This way, everyone just ends up paying taxes on their own personal net profits. It’s not a bad problem to have if he wins $20k regardless, haha. Would be pretty cool.

  • einars

    @danliebl said...

    I am asking this to be clear, not to try to get people worried about selling shares, i think it is great fun.

    so lets say Timmayer33 wins $20,000, and he has sold 50%, so he ends up paying out $1000 per 5% share. If he sends out 1099’s for each person, that would be enough so that he is paying taxes only on the 10K he kept, and not the 20K he won? (hope that made sense)

    yeah. because he would get a 1099 from dk/fd for the full 20k (less entry fees) and then would deduct the 10K he paid out and would be able to use the 1099s to support the deduction (i am pretty sure). The investors would then include in their income the amount that they won

    moral of the story the government is happy as long as they get their share

    EDIT: somehow missed Stew’s response which is much better than mine

  • danliebl

    Stew and einars, thanks, that makes perfect sense.

    A friend and i have gone in a few bigger tournies, under my account, if we ever hit a big one, i was wondering how that would work out, but now i get.

    Good luck again for those in this share buying group, sorry for thread derail.

  • KingLion22

    • 2015 FABC Finalist

    • 2018 DraftKings NFL KOTB Finalist

    @Timmayer33 said...

    For this weekends NBA I will do the following for new investors.
    Friday and Saturday
    Nba slam 5 entries
    Nba rebound 5 entries
    Nba layup 5 entries
    Nba shot 5 entries
    Nba swat 5 entries

    Total entries $430
    10% $43 5% $21.50
    Below is who I have reserved once confirmed and sent I will update.
    Madchuck 10%
    Otcprofits 20%
    Elslappo 10%
    Brahma 5%
    Jscott2493 5%
    Kinglion 10%

    Are these for Friday/Saturday entries?

  • jimi238

    I’d like to be in 5% if spots are open. I posted in the other thread as well.

  • madchuck

    Sent 10% for Friday and Saturday

  • ElSlappo

    I may have just missed it above but what is the email address to paypal to for this?

  • ElSlappo

    I PM’d you Tim

  • Timmayer33

    @Stewburtx8 said...

    Correct. He would still have to claim the $20k on his tax return because that is what Fanduel will send to the IRS in his name. But then he could deduct the $10k he paid out as expenses/deductions. Each individual would then have to claim their respective amounts they won. The IRS would have the paper trail of 1099’s from Fanduel to Timmayer33 and from Timmayer33 to each of his investors.

    This way, everyone just ends up paying taxes on their own personal net profits. It’s not a bad problem to have if he wins $20k regardless, haha. Would be pretty cool.

    The above is correct. if a big score is hit a 1099 will be sent to each investor. Like it was said, it will be an “ok” problem to deal with.

  • TimPich

    Hey would love to buy some %
    Let me know if u have room left

  • Timmayer33

    King lion – yes that is a Friday / Saturday set

    Friday and Saturday
    Madchuck 10% received
    Otcprofits 20% received
    Elslappo 10% received
    Brahma 5% received
    Steel bus 5% received
    Jscott2493 5% reserved
    Kinglion 10% reserved

  • Timmayer33

    All investors for tonight’s games. I will be sending you my lineups for tonight’s games a little later. It will be about 8pm when I get them out. Just wanted to keep you informed.
    Thank you
    Tim

  • Elmacho

    Timmayer33, any room in your upcoming games?

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