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Party Poker Million Guarenteed
Hi everyone, this is my first post... I had some questions regarding big payouts and taxes.... How would I withdraw my money so I get taxed least possible...thanks all who supported me today and go UCSD!
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#2
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Re: Party Poker Million Guarenteed
Cashout through neteller and use their debit card. It's not traceable like putting straight into your bank accout is.
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#3
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Re: Party Poker Million Guarenteed
[ QUOTE ]
Cashout through neteller and use their debit card. It's not traceable like putting straight into your bank accout is. [/ QUOTE ] This is what I would do, as well. Never had a big poker payout, but have had a couple good sized sports bets cash for me and this kept it under the radar. |
#4
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Re: Party Poker Million Guarenteed
Does neteller charge a fee for this, and what amounts per time would be good for this?
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#5
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Re: Party Poker Million Guarenteed
Better be careful. It seems like you're asking for advice on how to avoid paying taxes that you legally owe. As such, it could be seen as a criminal enterprise of some sort. While I doubt the IRS monitors this website, or could connect up to who you really are through it, if they did, you could be in for a nasty audit.
Later, Greg Raymer (FossilMan) |
#6
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Re: Party Poker Million Guarenteed
Yes they charge a fee. For every $1,000 you take out through the debit card it will cost you about $6 all together. You should take out most of the money through your debit card and some through your bank account so aren't entirely evading taxes.
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#7
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Re: Party Poker Million Guarenteed
Greg has a very good point here. The IRS is known to very aggressively prosecute people they decide are taking active measures to evade taxes as opposed to people who just make mistakes and underpay their taxes (who usually just face small penalities and interest). Schemes like Neteller debit card and going to check-cashing places are unlikely to be found out, but if they do find out, you could be subject to huge fines and/or jail time.
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#8
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Re: Party Poker Million Guarenteed
[ QUOTE ]
Greg has a very good point here. The IRS is known to very aggressively prosecute people they decide are taking active measures to evade taxes as opposed to people who just make mistakes and underpay their taxes (who usually just face small penalities and interest). Schemes like Neteller debit card and going to check-cashing places are unlikely to be found out, but if they do find out, you could be subject to huge fines and/or jail time. [/ QUOTE ] Is the overseas debit card idea definitely illegal, or a gray area? eastbay |
#9
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Re: Party Poker Million Guarenteed
As long as you fully report everything, I doubt any of these means of withdrawing funds are illegal per se. However, if you use one of these withdrawal schemes, don't report the income, and then get caught, it's going to be pretty hard to sound believable when you try to explain how it was an honest mistake on your part.
Later, Greg Raymer (FossilMan) |
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