Why did svb not go to the china open…
- Thread starter trob
- Start date
Maybe tax law has changed, but in my experience, tax paid to a foreign country is directly deductible from your tax on that money in the US. Also, there are individual tax treaties with each country, and that complicates things. Some foreign nationals are exempt from the 30% withholding on winnings in the US, for example.
Exactly what I know it to be, who knows now though but I have never heard of being double taxed.
Might be easier for SVB to say he prefers a tournament with a weak field.
Accounting issues aside, it's probably both the weaker field and the dramatically lower expenses. He was essentially guaranteed a top-2 finish in Denver, which, including the calcutta payout, was probably at least the same expected return as he'd get in China...without the long, expensive flight, extended hotel stay, and all the hassle of getting to the other side of the planet and dealing with time zone shifts, navigating a bustling country that speaks a foreign language, etc.
I don't blame him one bit. Bonus points because I happened to be in Denver at the time and got to watch him (and have to explain to my family why the best American player of all time, and arguably the greatest pool player of all time was playing in a strip mall pizza joint in Aurora. No really, guys).
Do we think US Open Barry pocketed the tax money he was “withholding” from foreign payees?
Fedor and SVB both played the one pocket at Texas Open. Fedor left for China Open and won. SVB played the 9 ball at skinny bobs where he finished 9th-12th. Maybe the field was stronger in the Texas Open? Hmmm
Shane played in at least ten China Opens and never won it, so maybe it's outside his comfort zone. The tax situation is what it is, and the same argument he made will apply to participation in most Asian events.
I think we must respect and support his decision to play in Colorado 100%. We now live in a world in which the top players need not play in every big event to earn an income. Shane can pick his spots, and I think that's a good thing.
I think we must respect and support his decision to play in Colorado 100%. We now live in a world in which the top players need not play in every big event to earn an income. Shane can pick his spots, and I think that's a good thing.
He should just say that then, not make shit up that’s obviously wrong to anyone with a brain.
Like he owes anyone an explanation. You think the guy even knows/cares that AZ even exists?
jax_joe
Well-known member
Maybe SVB actually knows his own tax implications vs everyone on here who don’t know shit, no matter how many times they post the hot air
He used to post here long ago.
Thread 'Good News from SVB.. SVB ENGAGED'
https://forums.azbilliards.com/threads/good-news-from-svb-svb-engaged.136902/
No one forced him to post an explanation; he did so of his own volition. Dubious claims posted online usually get fact checked. It's not difficult to find the relevant information, that his foreign earnings would not be double-taxed.
There's lots of legitimate reasons one might choose to skip a foreign tournament. Double taxation is not one of them.
If he doesn’t feel like he owes an explanation, why did he post one?
He’s full of BS on this one. Not the first time or the last time a pool player is wrong about something unrelated to hitting a ball in a hole.
he gave good reasons why not to go. to go there the prize fun has to be much large to attract players from a far.
your foreign earnings are double taxed. you can deduct the tax from your gross not from what you owe in us tax. so you do pay less tax on your gross but more tax overall.
besides what he does is for his benefit, not fans .
your foreign earnings are double taxed. you can deduct the tax from your gross not from what you owe in us tax. so you do pay less tax on your gross but more tax overall.
besides what he does is for his benefit, not fans .
Fishing guides too expensive in China.