Re: anyone making a living from SSNL?
 

Go ahead and don't take any deductions. As you know I'm sure, poker winnings are taxed as ordinary income, not gambling winnings, and therefore you can take any and all reasonable deductions. If you use a halfway decent CPA to do your taxes and keep records of all expenses you should not be paying anywhere near the taxes you would if you earned that money as a salaried employee.

Re: anyone making a living from SSNL?
 

whether you're paying 30% of your winnings to uncle sam or bypassing him alltogether, the point is you can make a decent living from SSNL without going to heroic measures (8-tabling 10 hours a day). I'm just curious if anyone is doing it.

Re: anyone making a living from SSNL?
 

I think there are a lot less small stakes pros than people think.

Re: anyone making a living from SSNL?
 

Anyone making a living playing small stakes could very easily move up in stakes after a month of three of 40 hour weeks. Why would you stay at smaller stakes when you are bankrolled for higher, even after deducting living expenses+entertainment?

Re: anyone making a living from SSNL?
 

[ QUOTE ]
any small stakes pros out there?

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yep. I don't plan on doing it forever, but for the next 5 months or so

Re: anyone making a living from SSNL?
 

it's been done before!

Re: anyone making a living from SSNL?
 

[ QUOTE ]
Anyone making a living playing small stakes could very easily move up in stakes after a month of three of 40 hour weeks.

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I suppose so, but I enjoy a 5-hour work week

Re: anyone making a living from SSNL?
 

Im assuming these ssnl pros are over at mhnl now

Re: anyone making a living from SSNL?
 

I love it as a part time summer/school job, I think I'd hate it full time.

Re: anyone making a living from SSNL?
 

[ QUOTE ]
Go ahead and don't take any deductions. As you know I'm sure, poker winnings are taxed as ordinary income, not gambling winnings, and therefore you can take any and all reasonable deductions. If you use a halfway decent CPA to do your taxes and keep records of all expenses you should not be paying anywhere near the taxes you would if you earned that money as a salaried employee.

[/ QUOTE ]

Yeah, actually, I've heard if you can prove that you're a professional gambler, your gambling activities will count as earned income (not as unearned income).

As for small stakes full-time, I definitely think it's possible. I've been doing it for 2 months to pay the rent/food in college, and just moved up to $100NL.

Even with my mediocre play, I crunched the numbers and came up with $30/hr off 4-tables, I do it 8PM-4AM EST, so there's your 8-hour shift. There are even good tables up until around 7AM. Rakeback will be at least another $5-$6, so you can realisticly pull $35/hr. If you take care of yourself and play a little overtime you can easily pull 80 gees a year.