Re: Setting up a Corporation for your gambling business
Sorry, but you're wrong. You can't deduct all of those computer screens and other things you buy for poker unless you file as a professional gambler, incorporated and use a schedule C.
Other reasons you might want to incorporate is if you have funny backing deals where you want to sell shares of yourself.
There are lots of reasons to incorporate, and liability is not the primary motive to incorporate for most gamblers.
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I think you should incorporate if you make more than $80k / Year on poker, and you have like $30k / year in business expenses (travel, computers, accountant, NOT ENTRY FEES).
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Sorry but that is awful advice. The only reason to ever incorporate as an individual is to insulate yourself from personal liability
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