View Full Version : Probably the Most important post for Online players
Hello everyone hows it going tonight....I really would like this post to be a big disucssion as there are ALOT of posts on 2+2 internet forum about the Taxes and legality of online gambling but they are all very short and vague, and I would like to come up with a GOOD decision based on everyone what to do here. I am wondering How many of you guys Pay your TAXES and your situation you are in (IE. are you filnig as a professional, is this your only source of income, is this a substantial source of your income etc.) We can all get very screwed by the IRS if not paying taxes as the interest will be compounded for years to come and you are required to give taxes on all income. For those that do not pay taxes...do you try to hide it. Also is it possible to open a bankaccount in a third world country and send money there and it wont be illega??? if you dont bring it to the us or just withdraw from neteller in small amounts from ATM...
Ok also, Does anyone here worry about online poker being illegal in the states??? What are the penalties if it is illegal and you get caught and are there any ways to get caught.
Please lets have an open discussion no this for SNGers that are playing fulll time and or part time. As i am sure we woudl all like to feel safe playing and make sure nothing is gogni to happen. Also shoudl we all sign a petition to try and legalize online gamblign in the states...why is it illegal
SORRY IN ADVANCE FOR THE INFORMAL STRUCTURE OF THE POST, JUST JOTTING DOWN THOUGHTS.
PS. Please no flaming for this post if you do not wish to discuss, please do not. Thanks in advance
gildwulf
11-09-2005, 03:43 AM
This post should be in internet gambling.
Yes, I stated that, But i thought it would be ncie to put it in the SNG forum as well as it pertains to everyone, and i respect many of the players here and would like their opinion.
PS. If this truly does not belong here. then take it off...i just thought it would be interested to put it here and say whaat many of the sNGERS had to say tHAnks
lastsamurai
11-09-2005, 03:56 AM
By law internet gambling is taxable in the United States. I believe penalties is 3x plus interests for late payments depending on how much you win or lose. However you can write off your loses up to your gains...what it comes down to is what you could prove to the IRS in writing (re: records)
HesseJam
11-09-2005, 04:00 AM
You know, it might be shocking to you, but, there are online players who play outside of the jurisdiction of the US tax authority. So it might be a bit of a stretch that this is the most important post for all online players.
raptor517
11-09-2005, 04:52 AM
the best way to get around is is send only summaries to yer email that you dont make the money. hah. i proved to them im a loser, and my money comes from drugs. holla
tigerite
11-09-2005, 05:25 AM
I live in the UK, so obviously the answer is No.
Freudian
11-09-2005, 06:32 AM
Yes. But my taxes on poker are a whopping 0%.
Please label your posts more honestly, you just wasted 30 seconds of my life.
I don't pay tax because it is not a requirement.
Lori
bawcerelli
11-09-2005, 07:22 AM
[ QUOTE ]
and my money comes from drugs. holla
[/ QUOTE ]
they didn't make you pay taxes on dope?
Degen
11-09-2005, 10:16 AM
anybody who would discuss this here has advice that you would likely be foolish to follow...anybody whose advice you should take on this topic, would be foolish to post their opinions here
this thread is worthless
yid3655
11-09-2005, 10:53 AM
you lucky so and so /images/graemlins/wink.gif
Questions like these are for attorneys who specialize in United States tax law.
TheNoodleMan
11-09-2005, 02:09 PM
Believe it or not, the majority of us can look in Internet Gambling if we want to read any of the hundred of threads that already exist on this subject.
Thanks for signing up with the intent of showing us all the most important post ever, but no thanks. Try lurking for a couple weeks and you ought to be able to figure out how to avoid these kinds of flameouts in the future.
microbet
11-09-2005, 02:11 PM
Selling drugs carries stiff criminal penalties. Tell them you beat up and mug old ladies.
Kurn, son of Mogh
11-09-2005, 02:18 PM
Does anyone here worry about online poker being illegal in the states??? What are the penalties if it is illegal and you get caught and are there any ways to get caught.
Gambling is regulated at the State level in the US. Right now, the only states I know of that specifically outlaws online gambling are Nevada ans (I think) North Dakota. The rest of the states' laws are vague.
Use Google. There's a web site that links to all applicable gaming laws from the 50 states.
Next: Use the search function here. This topic has been discussed ad nauseum on 2+2.
sofere
11-09-2005, 02:19 PM
Revenue from dope sales are taxable in the US
hellite
11-09-2005, 03:11 PM
This is certainly not the most important post for online players. Why you ask? the majority of online players are clearly losers. Hence, their tax liability is usually null.
MrEngenic
11-09-2005, 03:21 PM
In the EU you pay gambling taxes in the country you won the money in. Most sites are in Gibraltar, Malta or the UK and they don't have gambling taxes.
= EU players don't have to pay any taxes.
Alobar
11-09-2005, 03:26 PM
this is definately not the most important post.
also the title of your post should actually be "help me learn to use the seach function"
Guthrie
11-09-2005, 04:33 PM
And your post was utterly unimportant to me.
Schwartzy61
11-09-2005, 04:37 PM
I haven't paid taxes on my poker yet because 2005 is the first year I've played poker, I voted yes anyways because I will pay taxes on it.
As far as the illegality of online poker. I'm wondering how playing in an illegal card room in New York (ala A-Rod and Hellmuth) isn't against the law and yet they will prevent us from playing poker over the internet? If operating a poker room in New York is illegal but playing is not, technically isn't internet poker in a similar situation? It would depend on the law of your state/locality but it seems most people are safe from jail and/or fines for playing poker online.
Schwartzy61
11-09-2005, 04:38 PM
Quick question...
Can't you just click "View Results of Poll" if you just want to see the answers?
jman220
11-09-2005, 04:58 PM
[ QUOTE ]
PS. Please no flaming for this post if you do not wish to discuss, please do not. Thanks in advance
[/ QUOTE ]
Anyone ever notice that posts that carry this disclaimer are almost always those that need to be/ will be flamed?
It is like they KNOW what is going to happen .... and then post anyway. /images/graemlins/grin.gif
Mike Haven
11-09-2005, 06:51 PM
TheNoodleMan
11-09-2005, 07:07 PM
beautiful
LoveDub
11-10-2005, 06:43 AM
[ QUOTE ]
Selling drugs carries stiff criminal penalties. Tell them you beat up and mug old ladies.
[/ QUOTE ]
Unless those old ladies are poker players, this probably won't work either. Cat food is expensive!
excession
11-10-2005, 04:56 PM
nope not a penny - and as a UK player that is fine - my poker is legal and tax free
Kurn, son of Mogh
11-10-2005, 05:14 PM
On the other hand, he pays a higher tax on non-gambling income and about a 17% Value Added Tax on most purchases.
"I'll tell you how it's gonna be.
One part for you, 19 for me,
I'm the taxman" - The Beatles
protocol
11-10-2005, 05:46 PM
Why did you allow both options to be checked?
Oh, its for those 24 people so far that voted for yes and no...
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