[joseki]

I guess I'll keep looking through old threads, but nearly every thread returned by the search function is some phrasing of the question, "Do I have to pay taxes". That is not what i'm interested in. If you're so certain that this has been hashed and rehashed, perhaps you could point me to the thread or provide more focused search parameters (an author, approximate date, forum, etc.).

I understand that you are happy with filing as a professional gambler, but it is not the same as incorporating. While you may have maxed your FICA contribution with some other income source, most have not, and avoiding these payments (legally, I might ad) would be very nice for many. Incorporating also moves the the tax liablity to the corporation, thus sheltering your assests from possible fines/interest/etc. if any unintented errors, from you or your CPA (believe it or not, CPA's make mistakes), show up down the line.

Basically, claiming status as a professional gambler is expensive or unavailable to many, and is based on ambiguous language that is often challenged by the IRS. I'm sure you are aware of the problems with the alternative of claiming per-session winnings and deducting losses. Thus, the impetus for another, LEGAL, method for dealing with this issue.