Re: Is rakeback taxable?
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For the standard tax reporting professional, is your rakeback considered a "gift" and therefore not taxable as income? what about deposit bonuses?
These add up to signifigant (tens of thousands of dollars) amounts of money at years and and not having to declare them would be a godsend
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Why do you guys insist on trying to get around paying taxes?
Yes, it is taxable.
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