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Getting a large amount of money online \"out\"? (taxes)
I've contacted Party, Stars and Full Tilt and I know that they do not report on any any balances of the players.
NETeller does not, as well, however any transactions to/from your bank account above $10k are "on the radar" from what I know. You also cannot travel across the border without declaring if you are carrying more than $10k in cash. Let's say you have a large amount online (I am suggesting the lower bound of this amount to be $100k, but am implying more like 250-400k). How do you get it out without needing to pay taxes on it? Let's leave the morality of paying taxes out of this discussion - if needed, please start a second thread on it. I'm more curious as to the mechanics of getting the money into the real world without losing half of it. Let's also shoot for a reasonable time frame (1 year or less) for the purposes of buying a house or something. Obviously if you just want to "live better", you could probably just NETeller out the money via ATM without reporting to .gov, via cash -> ATM. I also understand that this might not be possible (buying a house, car, or other high priced items may just end up flagging yourself for an audit) but I am curious. |
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