NETeller to internet stock broker?
 

I've seemed to amass quite a bankroll now, but am hesitating to withdraw them, due to the fact that the Danish tax laws regarding poker winnings are very unclear.

Do any of you know of any online broker firm, to which I can deposit from my NETeller?

Re: NETeller to internet stock broker?
 

You could get a Neteller Debit Card and withdraw it in cash. [img]/images/graemlins/shocked.gif[/img]

Re: NETeller to internet stock broker?
 

Yes, but that still wouldn't get the money into the stock market. Then I would still have to make a deposit at my bank and then transfer them or get a check issued.

Re: NETeller to internet stock broker?
 

Just to let you know, it sounds like you're asking us how to launder money. That's illegal. So, yeah, don't do that. Taxes really are +EV in the long run.

Re: NETeller to internet stock broker?
 

Hmmm, OK, I can see how it may appear that way. Not the case, however.

The following is to the best of my knowledge:
There has been a case in Sweden (Lindbergh-case) where the person had withdrawn from the pokersites, and the tax authorities wanted their cut. However it was taken to the EU court, and it was deemed that since it was earned within another EU country (UK) he should not pay taxes in Sweden.
I assume that since Denmark is part of EU too, the same rules would apply.
But according to the Danish tax authorities, you do have to pay taxes of your winnings, regardless. However, they have also stated that they do not want to pursue recreational gamblers. But still if they decide to change that policy, they can always go back 5 years and claim taxes.

So bottom line, no this is not a laundering scheme, but a mixture of waiting for some clear rules, and if in the end I do have to pay taxes, just prolonging the payment, investing them in the meantime (which is normal procedure in Denmark with retirement-savings for instance)

Re: NETeller to internet stock broker?
 

I'm going assume you are not a pro since you mentioned not withdrawing anything. In that case, you have another profession. What I would do is get a NeTeller Debit card and use that for daily expenses (i.e. take out money for lunch, entertainment, etc.). Then, take the money saved which should still be in your bank account from your employer deposit and transfer that to your stock broker.

If ever questioned, just state that you made financial descisions to stop wasting money ('I bring my lunch to work now', 'I don't go out on Friday nights anymore', etc.). No one will know that you haven't changed your lifestyle at all. You are just paying for parts of it from a different source.

Tough to track IMO. Now, if you are talking about pulling out 10K a month, I guess you should just pay the taxes on it.