Paying Taxes???

HigherAce · #1 01-07-2005, 04:57 PM

If I'm cashing money from party right into my bank account do I have to pay taxes on that? all my cashouts are under 1k does that matter? If so does anyone know a site about internet taxes I can check out? Thx in advanced.

SamJack · #2 01-07-2005, 05:47 PM

Dude,

You should pay taxes on all your winnings.

SamJack

Rudbaeck · #3 01-07-2005, 06:03 PM

As you didn't post your country I'll assume it's the US. If so you have to pay taxes.

TimTimSalabim · #4 01-07-2005, 06:20 PM

You owe taxes when you win the money, not when you cash it out. Just like if you made money by selling a stock, it doesn't matter when you transfer the money out of your online broker to your checking account.

TheBeat · #5 01-07-2005, 07:24 PM

Who cares about taxes, Only idiots claim their winnings online.

Losing all · #6 01-07-2005, 07:32 PM

12 months in jail doesn't sound that bad, until you get hiv pumped into you the first night. good luck with that.