[Official XenoBot Lottery] Ferumbras Hat & More!

[Pinnicle]

Purchased 10 Goodluck all

Kappa

[Daniel-Sp]

Got my ticket. I never won anything and I doubt I'm going to.

Anyway, I'm participating on this to support the idea.

XenoBot is a registred business that makes over 5000$ annually on PayPal, which means I have to pay taxes. In particular, I have 34% tax on all XB profits. PayPal also takes a $.77 fee on each transaction. This works out to a total income of:

200 * (12.00 - .77) * .66 = $1482.36

This isn't counting tax deductions that can be filed, however. Keep in mind that I just paid $1640 for the hat, and the payment method I used isn't tax deductible. So, if we work out taxes with the assumption that I can only deduct taxes from the gold and world transfer (a total of $360), here is the final result:

200 * (12.00 - .77) = $2246.00
(2245 - 360) * .66 + 360 = $1604.1

So even if you count tax deduction, I am only getting $1600, after putting in $2000. I'm paying money for this lottery, but I'm okay with that because it is for publicity.


tl;dr; if you want to play math, learn how business accounting works.

[DarkstaR]

Can't you write this off as promoting?

I can write off the PayPal purchases for gold as 'assets' because they have legit receipts and allow disputes etc. I'm not sure all of the details, but my CPA says writing off things like WU can trigger audits and shit.

[PromB]

Good luck everyone and congrats to the winners in advance!

[kelviner1]

I can write off the PayPal purchases for gold as 'assets' because they have legit receipts and allow disputes etc. I'm not sure all of the details, but my CPA says writing off things like WU can trigger audits and shit.

Wu is red flagged cause it could mean you're laundering. But I don't see why you couldn't write this off you're not using wu for it

[DarkstaR]

Wu is red flagged cause it could mean you're laundering. But I don't see why you couldn't write this off you're not using wu for it

I can't write off money as expenses unless I have a receipt, and WU receipts are bad news.

Anyways, this isn't a place to discuss small business finance. If anyone thinks I'm doing this for profit, they can just not enter. I'm okay with that.

[Gordo]

move aside bitchess, that feru hat is mine.

[Eli]

Bought a ticket! good luck everyone : )

[Joshwa534]

Joshua, you just completed your payment.

:< I was prepared to buy more tickets but too lazy to make more Xenobot accounts.

[Sam]

Bought a ticket, GL everyone