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Old 11-24-2005, 11:12 PM
swiftrhett swiftrhett is offline
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Join Date: Jul 2005
Posts: 61
Default Re: Setting up a Corporation for your gambling business

Right. My point is that I don't get why anyone would want to be a professional gambler. Why don't I just stay non-professional and not file a schedule SE and not pay the extra taxes?

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The real issue, which i assumed the original question really was, is if you should file as a professional gambler. That is where I think most people shouldn't because of the huge Self Employment tax penalty.


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I'm really not trying to pick on you but, If you file as a sole proprietor/Pro gambler and get paid (show a profit) you pay the double Fica and Medicare taxes anyway by filing Schedule SE.

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