Tax's - how MUCH do they take out anyway??? 2 questions

[Webster]

Let's say I win profit $10,000 - on average - how much should I pay.

What about if a person becomes a small business and gambling is his business ??? Tax write-offs??

[Lazymeatball]

The problme is that the IRS doesn't look at your profit, they want to tax you on your wins and then deduct your losses.

[SamJack]

If you don't have a day job. You can file as a professional. In which case you can write off airfair to tournaments. Partial cost for computer etc. (% you use for poker, etc.).

But really. Please do a search. This topic has been talked to death many times.

SamJack

SamJack

[cardcounter0]

The IRS uses a form called the 1040, which you fill out and calculate the exact amount you need to pay.
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