taxes & legality?
 

Assume I am an affiliate of a party skin.

I play 8-12 tables, and in order to get my rakeback, I have 2 accounts signed up under my affiliate. Now, these accounts must use unique netellers accounts right? So, if my very generous and helpful brother and sister each create a Neteller account and allow me to tie a poker account to it, I can no play 8-12 tables at once.

However, when it comes around to tax season do they have any obligations? I mean.. when I withdraw the money from their party accounts to their netellers, I immediately transfer the money to MY neteller account. They never have over $10,000 in any of their accounts.

When I file taxes, I will file everything as ganbling revenue for myself.

Do I have all my bases covered?

Re: taxes & legality?
 

Also, does anyone know if Neteller files with the IRS?

Re: taxes & legality?
 

You can use the same neteller account for different skin accounts.

Re: taxes & legality?
 

I hope you, your brother, and your sister get put in federal pound-me-in-the-ass prison for creating your gnome accounts and trying to evade taxes. If you do file honestly, I hope you all get slammed with the AMT.

And for the honest answer, to keep everything on the up-and-up your brother, sister, and you would have to file tax returns with the gambling earning on each of their accounts.

And Neteller will provide the IRS with records if subpoenaed. Use the search to find the correspondence

Re: taxes & legality?
 

[ QUOTE ]
If you do file honestly, I hope you all get slammed with the AMT.

[/ QUOTE ]

What is the ATM?

I want to play 8-12 tables at once, on the same skin. This is obviously done by many people on this site and those people proabbly are getting rakeback. Thats all I am trying to do...nothing more.

I was wondering if my brother and sister will have to file anything with the IRS. They are not playing poker.

Re: taxes & legality?
 

This is NOT obviously done by many people. The main advantage of having multiple skins, from a players prospective, is to have access to more tables than the parent site allows. If you want ot play 8 tables on party poker you can play 4 on party and 4 on Empire and they are all the same players and tables.

Do you even know what a skin is?

Re: taxes & legality?
 

If you play in your brothers and sisters name, which is against every T&C out there by the way, they will have to pay taxes on that money. To think otherwise is naive at best.

My wishes for prison or the AMT still stand.

Re: taxes & legality?
 

not a good idea. Primarily because the skin will soon dump you for inactivity once you do not get any new revenue producing signups.

Just get an account at each skin with a decent affiliate.

btw, your bro and sis would not be responsible for the taxes. You are going to pay the member to member transfer fee rather than deposit into the sibs accounts? Although, it really doesn't matter if it is deposited into their bank account and they gave you a check after every deposit, it sure would NOT be fun to explain in an audit.

Re: taxes & legality?
 

AMT, not ATM. Stands for Alternative Minimum Tax. One of the more enjoyable aspects of the US Tax Code.

Re: taxes & legality?
 

ok thanks for the replies everyone! very informative. It sounds as if I would be much better jsut setting up accounts at multiple skins.