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Forum: The Stock Market 12-13-2005, 08:45 PM
Replies: 33
Views: 191
Posted By TheMetetron
Re: IRA Help for a Professional Poker Player

[ QUOTE ]
Consider moving to Vegas, or at least getting another home and doing most of your playing there. No state income tax in Nevada.

If you're playing at Bay 101, post your picture so I can...
Forum: The Stock Market 12-06-2005, 03:06 PM
Replies: 33
Views: 191
Posted By TheMetetron
Re: IRA Help for a Professional Poker Player

[ QUOTE ]
But it's still up to you. Realize if you don't pay social security taxes you won't get much/any social security benefits.

[/ QUOTE ]

You do realize social security tax caps at 90k...
Forum: The Stock Market 12-04-2005, 08:35 PM
Replies: 33
Views: 191
Posted By TheMetetron
Re: IRA Help for a Professional Poker Player

The reason to grab it is to buy a house. Or if this whole thing goes bust in 10 years and I have to get a real job or start a new business.
Forum: The Stock Market 12-04-2005, 03:30 PM
Replies: 33
Views: 191
Posted By TheMetetron
Re: IRA Help for a Professional Poker Player

Got an appointment to talk to a professional this week. I'll report back.
Forum: The Stock Market 12-04-2005, 03:30 PM
Replies: 33
Views: 191
Posted By TheMetetron
Re: IRA Help for a Professional Poker Player

[ QUOTE ]
[ QUOTE ]
I make between 150-250k per year.

[/ QUOTE ]

[ QUOTE ]
I'm 21 and worked for near minimum wage until about March of this year when I went pro. From march to about June, I...
Forum: The Stock Market 12-04-2005, 11:35 AM
Replies: 33
Views: 191
Posted By TheMetetron
Re: IRA Help for a Professional Poker Player

[ QUOTE ]
your bankroll is also an asset, are you already counting this? if so, you need to learn to live below your means a little...

[/ QUOTE ]

I'm 21 and worked for near minimum wage until...
Forum: The Stock Market 12-03-2005, 11:43 PM
Replies: 33
Views: 191
Posted By TheMetetron
Re: IRA Help for a Professional Poker Player

[ QUOTE ]
[ QUOTE ]
What about indivial 401k's?

[/ QUOTE ]

I believe this is only open to Companies with a certain amount of employees. I believe the SEP-IRA is other alternative.

[/...
Forum: The Stock Market 12-03-2005, 10:34 PM
Replies: 33
Views: 191
Posted By TheMetetron
Re: IRA Help for a Professional Poker Player

New question:

What about indivial 401k's?

Seems like another viable alternative that I could borrow against.

I need to make an appointment to see an accountant.
Forum: The Stock Market 12-03-2005, 10:08 PM
Replies: 33
Views: 191
Posted By TheMetetron
Re: IRA Help for a Professional Poker Player

Question:

When you deduct your IRA contribution from your taxes, is that done in the same place as your standard deduction (meaning I can't take a standard deduction to enjoy the full benefits) or...
Forum: The Stock Market 12-03-2005, 09:59 PM
Replies: 33
Views: 191
Posted By TheMetetron
Re: IRA Help for a Professional Poker Player

Thanks for the links, I'll check them out.

I definitely make too much for anything but a traditional IRA, correct?
Forum: The Stock Market 12-03-2005, 07:57 PM
Replies: 33
Views: 191
Posted By TheMetetron
Re: IRA Help for a Professional Poker Player

I'm thinking of just putting into a taxable account and paying a capital gains tax of 15% when I withdraw it.... am I correct in this thinking?

What about paying taxes on the gains each year.. is...
Forum: The Stock Market 12-03-2005, 07:48 PM
Replies: 33
Views: 191
Posted By TheMetetron
IRA Help for a Professional Poker Player

First of all... why the hell would I want to open an IRA? I tried to ask this is Internet Gambling and everyone was running around with their head cut off.

I'm not willing to concede that as a...
Showing results 1 to 12 of 12

 
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