Re: Taxes question
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You dont need an accountant. Turbo Tax handles it just fine. You already know that you need to seperate your wins and losses. You dont need an accountant to do the math for you.
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Well my father is very knowledgabke when it comes to taxes so i plan to use him. Im just curious if anyone has an idea on how much ill owe.
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Did you have any other job during the year?
If poker was your only source of income I would definitely file as a professional.
I'm not sure of the exact tax rates for 2006, but the lowest brackets are generally 10 to 15 percent. So depending on your deductions and credits I would expect to owe around $500 if you haven't paid any tax into the system.
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