Payout 2011 WSOP

After looking into it more, I am just going to give you guys $321.00 each.

It breaks down like this:

Payout: $7,482.00

My Share (70%): $5,235.00

Group Share (30%): $2,247.00

Group Share ($2,247.00) Split 7 ways (rounded): $321.00 x7

I rounded to the nearest whole dollar. You can ignore the rest of this post.

Hey guys, 66th place came with it a prize of $7,482.00. I estimated the taxes (I used 30% after consulting with an accountant) on that amount (minus deductions) and after removing my share, the payout to the group is $1,806.00 or $258.00 each. See below for a more detailed break down.

Payout: $7,482.00

Deductions:

Buy in - $1,500.00

Room - $850.00

Gas - $100.00

Food - $150.00

Payout ($7,482.00) minus Deductions ($2,600.00): $4,882.00

Estimated Taxes (30%) on Payout minus Deductions ($4,882.00): $1,464.00

Payout ($7,482.00) minus Estimated Taxes ($1,464.00): $6,017.00

Adjusted Payout ($6,017.00) Split:

My Share (70%): $4,212.18

Group Share (30%): $1,805.22

Group Share ($1,805.22) Split 7 ways (rounded): $258.00 x7

If I end up paying less than the $1,464.00 in taxes next year, I will pass on the extra money to you guys.