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Old 05-17-2004, 12:54 PM
TXTiger TXTiger is offline
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Join Date: Sep 2003
Posts: 13
Default Tax ? - Setting up an S Corp

I met with a CPA last week about paying taxes on internet poker winnings. He did not really have any experience with internet poker. He suggested that I set up an S Corp (my own business). Doing this would allow me to get the usual working from home small business write offs. And it will also allow me to avoid paying self employment tax on some of my winnings. I was wondering what you guys thought about this. If you just claim your winnings under other income do you still pay the self employment tax on it? How do you full time internet poker players file? This year I will have income from a traditional job as well as poker winnings. I recently quit so it's poker winnings from here on out. How does the S Corp idea sound to you?
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