Re: Going Pro?
Why does everyone want to go "Pro"? Why can't you be happy playing poker for extra cash? Even if you make 10 times more then your job, why do you have to label it "Pro"? It must be an ego thing, because filing Schedule C, keeping records, and paying self employment tax is enough to keep me from "Going Pro".
IMO 95% of the so called "Pros" would be better off keeping it as ordinary gambling income. You either don't have the deductions, knowledge, or desire to persue the tax advantages of filing as a true Professional Gambler.
I guess I am just tired of reading another "Going Pro" thread from someone who doesn't understand all of the ramifications.
Sorry for the rant
|