Staking Money Transfer Question...

[SheetWise]

If it's being played offshore, then bringing it into, or back into the US is silly -- and raises a lot of issues. Set up with offshore bank that provides access to funds for casino credit lines, etc. I will private e-mail you a US contact I use.

[poker-penguin]

I wouldn't try to get cute and avoid the 10K reporting limit. It's not worth ***ing with the IRS or whoever it is.

I'm a little out of my depth with the number of zeros involved here. What sort of other thoughts were you looking for?

[ChewyMint]

Well, if I simply deposit $50K into my personal account, how do I avoid being taxed, as it isn't income?

ChewyMint

[Lawrence Ng]

If you are going to play online, then why not just have your backer set up a poker account and have you play it? It's easier that way and you won't have to worry about taxes and doing anything evasive. If you need to play live, just take whatever amount from your backer to play in cash.

Why not have your person set up a Neteller account with $50K in it, and work off of that?

Tim

[poker-penguin]

I don't think you don't need to avoid being taxed - unless you get your salary yearly or play in the NBA very few people have income payments of 50K. The bank will report it, I think, because it's over 50K, and most likely, nothing else will happen.

If the IRS look into it, then you say that you sold X a valuable pornography collection, antique table, or whatever.

Having your backer set up a neteller account isn't a bad idea either. Although if you want the money for live games it might be a little inconvenient to put it all there.

[dogmeat]

Yes, I have an insight - your full of BS, or your friend/business associate is trusting his money with somebody that has no experience or background in any type of financial matters, which is really strange.

Dogmeat [img]/images/graemlins/spade.gif[/img]

[lordfoo]

get your head out of your ass