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this mnth has been going pretty good , im no where near goals , but im up close to 3k in june , ive also been playing a ton of Heads up sit n go's , i only play the $22 + 1 and have been doing pretty well , im curious to know whats considered a good ROI ,
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The Borgata Summer Open has started and there have nice tourneys every day for the next few weeks , so ill def try to play a few
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heres an article that was sent to me by the woman in the article , we played a few sit n go's in the bahamas together and she ontroduced me to her client , chris moneymaker , and at one point when me and her got heads up , moneymaker came to sit down and sweat his friend , and root against me , lol...heres the article
Heres the Link in the
Atlanta Journal newspaper, but i pasted it below, enjoy
WHY I LOVE MY JOB
Ann-Margaret Johnston, Accountant for professional poker players
Published on: 06/06/08
• Job: Accountant for professional poker players, Cumming
KARL W. RITZLER/Special
(ENLARGE)
Ann-Margaret Johnston enjoys the company of her dog, Madison, at her accounting office in Cumming. Johnston specializes in the tax issues of professional poker players and wrote a book about the business of poker. Some of her clients have won millions of dollars at poker tables.
• What I do: Good poker players know when to hold 'em and when to fold 'em. Ann-Margaret Johnston knows when it's deductible.
She's a certified public accountant; president of Johnston and Associates, a Cumming accounting firm; and a pretty good poker player herself.
Her full-service firm does tax returns and tax planning and helps small businesses and professionals with their accounting and tax needs. But she specializes in professional poker players and has written a book, "How to Turn Your Poker Playing Into a Business."
She found her niche in a way any accountant would love. As a poker player who makes frequent trips to Las Vegas and to tournaments elsewhere, Johnston, 40, was looking for a way to write off her travel expenses on her taxes. The book was the first way, and now her travels include meetings with clients, business promotion and, of course, poker.
Among her clients are some of the stars of the World Series of Poker, including Jeff Williams and Chris Moneymaker, both of whom have won millions at the poker table.
Gambling expenses aren't like other business expenses, she said. A gambler can deduct losses only up to the amount of his or her winnings. If you've had a bad year, the Internal Revenue Service isn't sympathetic.
"It's not easy to keep up with gambling income and expenses," Johnston said. "It's all cash."
She advises her clients, many of whom are still in their 20s and makings hundreds of thousands of dollars a year, to save some of their winnings for retirement. "You can lose a lot of money very quickly," she cautioned.
On the expenses side, any trip to a poker room can be a deduction, she said, and there are poker rooms all over the world since the recent popularity of games like Texas Hold 'Em, the game played on television and in the World Series of Poker.
Johnston brings her card-playing expertise to the table, too. "Poker has a different language. I can relate to the guys," she said.
She said she can speak poker lingo and understands how the money flows in and out.
Johnston has played in the World Series of Poker Ladies Championship and said she's "in the black" in her in-person and online playing.
• What got me interested in this: Johnston said she got hooked on poker when her husband took her to Las Vegas about 10 years ago.
Looking around at the poker room at one of the casinos, "I wanted to know what was going on," she said. She took a poker lesson and sat down at a table. "I entered a tournament and did well," she said.
Soon, she was going to Las Vegas three times a year and began to look for ways to write off the trips.
Johnston has run her accounting firm for 14 years; she started taking on poker players as clients about a year ago.
• Best part of my job: "I can bring my dog to work every day," Johnston said. "And I love to travel. [Because of] the book and my great staff, I'm able to travel."
• Most challenging part: "Tax season is the worst part of this job," Johnston said. "On April 16, I love my job."
• What people don't know about my job: "I wear many hats," she said. In addition to her own firm, Johnston also is the chief financial officer of her husband's assisted-living management company and is the treasurer for a couple of community organizations. "I have to work poker in at night online," she said.
"Only a few of my poker clients are from Georgia," she added. And she also has non-poker clients overseas — "some I've never met."
The poker players are winners, she said. "My [clients] make money, or they wouldn't need me."
• What keeps me going: "I like to see my clients succeed," she said. "I'm able to provide personal service with very quick response."
• Preparation needed for this job: Not all accountants are certified public accountants. CPAs must pass an exam and be licensed by the state. They also must take continuing education courses and renew their licenses.
In addition, accountants may become "enrolled agents" of the Internal Revenue Service to represent taxpayers on their federal taxes.
An accountant, CPA or not, generally needs a bachelor's degree in accounting.
Johnston has a bachelor's degree in accounting from Clayton State University and worked in several metro Atlanta accounting firms before opening her own.
- By Karl W. Ritzler, for ajcjobs. Got an interesting job that you love? E-mail your story to jobseditor@ajc.com.
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wish me luck
