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Old 11-05-2005, 10:48 PM
LImitPlayer LImitPlayer is offline
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Join Date: Nov 2004
Posts: 162
Default Re: Paying taxes on Poker Winnings...

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Online gambling is a stickier situation but luckily the CRA has decided in our favour on this one

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They haven't, thats the point you seem to be missing.

First you said we were lucky that we were fortunate because the accountants give bad advice. Now you say that we are lucky because the CRA is not the IRS.

If poker is your sole source of income, it is taxable. I didn't just say to myself Joe Schmoe on the 2 + 2 forums says it's not taxable so it must not be, or a buddy of mine knows about this stuff so he must be right.

I make over 6 figures from poker income and it is my sole source of income. I thoroughly researched the tax liabilities that effect me.

I called the CRA myself, was told it was taxable and I did not like the answer I was given.

I went to an accountant, who called the CRA and he was told it was taxable and I Still didn't like the answer I was given.

I went to a 2nd accountant, who also told me it was taxable.

I may not like the answer but it doesn't change it.

If you rely on poker as your sole source of income, it is taxable end of story.

Don't confuse winning 150K in a jackpot at the casino or winning the super 7 or lotto 649 lotteries which are not taxable with having a job (which is poker) with taxable income.

If you want to keep liiving in denial thats up to you.

You asked where i live, I live in Ontario, sounds like the same province as you since you are driving to windsor
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