What is the best way to avoid taxes?

[RollaJ]

My online roll has gotten rather large, and I very rarely withdraw.... but the time has come. I know many will argue that it should be paid, but I dont wanna. That being said, what is the best way to avoid taxes?

[Baulucky]

Depending on how large you may want to consider getting citizenship of another country before cashing out.

[RollaJ]

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Depending on how large you may want to consider getting citizenship of another country before cashing out

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LOL, I wish it were that much

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don't earn any money


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Too late [img]/images/graemlins/tongue.gif[/img]

[RiverMel]

He would need to not only get citizenship from another country, but also give up his U.S. citizenship and move out of the country.

[Baulucky]

Right. That's the new 'sport' of the US billionaires and millionaires.

[dink]

Best way to avoid taxes

don't earn any money

[El Barto]

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selling neteller money for 90 cents on the dollar for cash or paypal money

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This is an interesting option. If you had a bunch of friends who were into casual gambling (not making a lot of money) this would work well. Even to transfer funds to someone that they could use for ebay purchases or something. As long as you don't get ratted out. Anyone try something like this?

We could set up a network to transfer funds from people in countries that get taxed to those who don't.

[Patrick del Poker Grande]

[ QUOTE ]
[ QUOTE ]
selling neteller money for 90 cents on the dollar for cash or paypal money

[/ QUOTE ]

This is an interesting option. If you had a bunch of friends who were into casual gambling (not making a lot of money) this would work well. Even to transfer funds to someone that they could use for ebay purchases or something. As long as you don't get ratted out. Anyone try something like this?

We could set up a network to transfer funds from people in countries that get taxed to those who don't.

[/ QUOTE ]
I can't claim to have much knowledge in the subject, but I believe you can call this any number of the following:

1) money laundering
2) fraud
3) racketeering
not to mention:
4) tax evasion

All of which Uncle Sam doesn't take kindly to - for either the main offender or the accomplice(s). I think the best advice is just to suck it up, pay the taxes, and quit bitching.

[fsuplayer]

deathvalley-

I know that you already said you dont wanna hear it, but I will post it anyways. Pay your taxes. The money is too easy to track if you start withdrawing it, and too tough to launder it.

I was also gonna avoid it until I started winning much more than I ever thought I would, and my girlfriend freaked out and said that she would only let me play as much as I do, if I become more responsible about it... [img]/images/graemlins/crazy.gif[/img]

I am glad I listened to her. If you talk to a CPA as I did five days ago, you'll find out that you will have to pay MUCH less than you think. You can deduct a sh*tload of stuff if you file as a business professional. So much so that I will probably only have to pay about 10-15% of my net profits to Uncle Sam.

Pay the taxes, clear your consious, and you wont have worry about it five years down the road.
And just think, when I come to the Borgata and take your money, you can subtract that loss from your net profits AND you can deduct your train ticket! [img]/images/graemlins/grin.gif[/img]

fsuplayer

pm me if you have any questions

[RollaJ]

Isnt it true that you can only deduct things if you file as a pro gambler?