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Taxes...The Shock
First of all, I paid my taxes on winnings last year, and of course intend to do so agains this year.
Going over my records though, I'm facing a sort of "poker shock." I booked a decent win last year, and it will be quite significant this year. That's no big deal. I'm feeling a little weird about the numbers that will go in both the "gambling winnings" and "gambling losses" lines. The only thing to avoid that is to file as a "professional gambler," also a bit weird living in Arkansas and all (go ahead and laugh, i'm used to it). 1. Is anyone else ever astounded at their tax numbers at the end of the year? 2. For those with a "real job," but who make more playing poker, do you file as an amateur or professional? 3. Also, I went with H & R block last year, decent I guess, but i don't want to deal with a 90 year old retiree in shock at the degenerate, sinful gambler before him again this year. I plan to hire a real CPA to do and sign off on my taxes this year. Pleas PM me if you can recommend someone good who understands gambling law here in Northwest Arkansas. I know this is a bit early, but I want to sit down and actually ask questions of someone who is paid to know the answers, as I'm compiling my records/sessions, etc. 4. Also, who's been audited or had "a friend" who was re: net poker. How did it go? |
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