Re: Setting up a Corporation for your gambling business
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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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