Question On Pro's Paying Taxes

[Nottom]

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In a landmark case brought against the US by Antigua the World Trade Organization has ruled that any attempt by the US to restrict internet gaming is illegal and a violation of numerous trade agreements the US has signed.


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I think you underestimate how little the US Gov't cares about what the rest of the world thinks about us.

[RPatterson]

Still waiting for an answer from someone who doesn't respond just to validate themselves being on the forum.

[lacky]

you seem more interested in dodging the taxes, but here is your answer. If it's your sole income it is best to form a corperation and run the income through that. That is legal and lets you avoid social security taxes and write off all expenses. From there it's just income, no different than if ya sold real estate or something. They just want their taxes, it's not like we're hit men or anything.

Steve

[Trantor]

This site looks as if it could be of interest to you:


http://www.gambling-law-us.com/Artic...ng-Session.htm

Trantor

[Cerril]

Awesome stuff. The upshot is that for playing online, PT should be able to provide sufficient info to satisfy the most anal auditor. Getting names for B&M play is a little scary. (not to mention I can imagine few things that would scare away fish faster than asking people around you for info for the purposes of filing taxes. Yeah, I'm not a pro. Really.

The rest comes down to just filing correctly. I think if you're making a decent amount at least one visit to a tax guy should be a high priority.

[Kurn, son of Mogh]

Since online poker is illegal

Ridiculous blanket statement. In most states in the US, online poker is *not* illegal.

[sprmario]

And casinos!

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This is revisionist history. Native Americans were healthily compensated with beads and barren land.

-Michael

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