Live Chat With Greg A. On Monday At 3 pm ET

Diesel · Post by **Diesel** » Mon Jul 19, 2010 9:43 am

It seems like just yesterday, the Colts had to decide on what to do with their money...Keep Edge James or Reggie Wayne. They let go of James, and it worked out well...But now they're at a point where Wayne is looking for more money, and his stats declining, and his age increasing. Are we in for a Wayne holdout?

cdavault · Post by **cdavault** » Mon Jul 19, 2010 9:45 am

Originally posted by Greg Ambrosius:
ESPN reports that Chris Johnson just agreed to a new restructured contract with the Titans. Lock him in as the No. 1 QB.

Oh, and not to be outdone, Chilly went down to Mississippi to talk with Brett. Snore............ I am so excited to hear that the coach is going to see brett and try and convince him to play again....we are trapped in ground hogs day.

No holdout of CJ? i was hoping he would fall to the bottom of the first

[ July 19, 2010, 03:47 PM: Message edited by: Popcorn Maker ]

Diesel · Post by **Diesel** » Mon Jul 19, 2010 9:46 am

Greg, when Favre enters the Hall of Fame, what would you do if he enters as a VIKING?

Greg Ambrosius · Post by **Greg Ambrosius** » Mon Jul 19, 2010 10:54 am

Originally posted by Diesel:
Greg, when Favre enters the Hall of Fame, what would you do if he enters as a VIKING? HAH!!! Kill myself?

It will never happen. The Packers will definitely reach out to him when he retires and try to lock him up to a promotional contract like they tried before. He is the greatest Packer of all-time and this too shall pass. As long as he never leads the Vikings to a Super Bowl title, he's still good here.

Last year he just teased them enough to let them down HARD!!

He will always be a Packer, but there's no doubt he was FABULOUS last year as a Viking and Vikings' fans truly love watching him now. I don't blame them as long as he keeps playing like he did last year.

cdavault · Post by **cdavault** » Mon Jul 19, 2010 11:00 am

Originally posted by Greg Ambrosius:
quote:Originally posted by mattjb:
When I win the 50k for the online championship how do I enter it on my maryland tax return? Other winners can answer this better than me, but all winnings are earned income. You will have expenses that you'll want to note that helped you earn this income, but that's what this is. [/QUOTE]you will get a W-9 in the mail. that you would claim. it would be something like non-employee compensation.

[ July 19, 2010, 05:02 PM: Message edited by: Popcorn Maker ]

Diesel · Post by **Diesel** » Mon Jul 19, 2010 12:27 pm

Originally posted by Popcorn Maker:
quote:Originally posted by Greg Ambrosius:
quote:Originally posted by mattjb:
When I win the 50k for the online championship how do I enter it on my maryland tax return? Other winners can answer this better than me, but all winnings are earned income. You will have expenses that you'll want to note that helped you earn this income, but that's what this is. [/QUOTE]you will get a W-9 in the mail. that you would claim. it would be something like non-employee compensation. [/QUOTE]Is Maryland the state that only this year became a state where fantasy sports were illegal? If so, maybe this is what this question is really about. I'm pretty sure one or two states changed their outlooks on the legalities this year.

Mattjb, if this is what you were getting at, you're going to have to find a surrogate winner. You'd have to compensate someone from another state to accept the winnings...In fact, if you're signed up as a sole owner and it's illegal in your state, I'd sign someone up as a co-owner immediately to have everything set so that if you do win, Uncle Sam doesn't have any questions.

cdavault · Post by **cdavault** » Mon Jul 19, 2010 1:16 pm

hummm i claimed winnings this past tax season in MD had no problems...

mattjb · Post by **mattjb** » Mon Jul 19, 2010 4:08 pm

Originally posted by Diesel:
quote:Originally posted by Popcorn Maker:
quote:Originally posted by Greg Ambrosius:
quote:Originally posted by mattjb:
When I win the 50k for the online championship how do I enter it on my maryland tax return? Other winners can answer this better than me, but all winnings are earned income. You will have expenses that you'll want to note that helped you earn this income, but that's what this is. [/QUOTE]you will get a W-9 in the mail. that you would claim. it would be something like non-employee compensation. [/QUOTE]Is Maryland the state that only this year became a state where fantasy sports were illegal? If so, maybe this is what this question is really about. I'm pretty sure one or two states changed their outlooks on the legalities this year.

Mattjb, if this is what you were getting at, you're going to have to find a surrogate winner. You'd have to compensate someone from another state to accept the winnings...In fact, if you're signed up as a sole owner and it's illegal in your state, I'd sign someone up as a co-owner immediately to have everything set so that if you do win, Uncle Sam doesn't have any questions. [/QUOTE]i have been assured there is no issue with maryland.

Shrink Attack · Post by **Shrink Attack** » Tue Jul 20, 2010 1:21 am

Originally posted by mattjb:
quote:Originally posted by Diesel:
quote:Originally posted by Popcorn Maker:
quote:Originally posted by Greg Ambrosius:
quote:Originally posted by mattjb:
When I win the 50k for the online championship how do I enter it on my maryland tax return? Other winners can answer this better than me, but all winnings are earned income. You will have expenses that you'll want to note that helped you earn this income, but that's what this is. [/QUOTE]you will get a W-9 in the mail. that you would claim. it would be something like non-employee compensation. [/QUOTE]Is Maryland the state that only this year became a state where fantasy sports were illegal? If so, maybe this is what this question is really about. I'm pretty sure one or two states changed their outlooks on the legalities this year.

Mattjb, if this is what you were getting at, you're going to have to find a surrogate winner. You'd have to compensate someone from another state to accept the winnings...In fact, if you're signed up as a sole owner and it's illegal in your state, I'd sign someone up as a co-owner immediately to have everything set so that if you do win, Uncle Sam doesn't have any questions. [/QUOTE]i have been assured there is no issue with maryland. [/QUOTE]Don't believe everything Bernie Madoff tells you.

Greg Ambrosius · Post by **Greg Ambrosius** » Tue Jul 20, 2010 2:24 am

Guys, there isn't any state that prohibits fantasy sports. There were always six states that had ambiguous wording in their state laws that could have interpreted that winning any money from fantasy sports or sporting events or any games of skill would be frowned upon by their Attorneys General. Some fantasy games chose to stay away from those states altogether, but no state has pushed this matter with anyone who has won money playing fantasy sports.

The Anti-Internet Gambling law is very specific of how you can run a legal fantasy sports contest and pay out prizes. We are certainly doing everything that is asked of us in that federal law and have no problem allowing residents of all states to play our games.

What Diesel is talking about in Maryland is legislation that is trying to be pushed before their state Congress addressing fantasy sports. It hasn't gone anywhere, but someone is trying to better define it on the state level. Washington just did the same thing. I'm not sure why the states are doing this when it's already been addressed at the federal level, but that's what's going on.

Here's a story about that in Maryland and nothing has been done since this report:

http://mddailyrecord.com/maryland-busin ... ling-laws/

I hope this helps.