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innovative tax and bankroll theory??
so i pay my taxes... i think people who don't are A) dumb and B) cheating the system. However, consider this.
Taxes need only be paid when they enter a bank account that the government can trace - like a savings account or a checking account. I.E something is taxable once it offficially enters into your income stream. I dont know quite how to articulate this, but I hope that makes sense. As such... considering everyone is always talking about building a bankroll and being able to handle the swings, does it not make sense to NOT put your money into a bank account yet. if you want to cash out, why not leave the money in a firepay account. It is always there and your bankroll will build upon itself more quickly this way, no? At the end of the day, you might say that you will end up paying more because if you make 33k a year playing poker instead of paying taxes on 33 k you will be in the 100 k bracket after 3 years. You could, however, just report the income as 33 k a year for 3 years ... i suppose you dont even need a firepay account and you could just keep it in your poker accounts anyway. Thoughts? is this legal? is it smart? |
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