Declaring Yourself a Corporation for Tax Purposes

[lgas]

As everyone else has mentioned, you should talk to an accountant, but one of the big advantages of incorporating is that you can buy things with pre-tax dollars from your corporation that you would otherwise buy with post-tax dollars. Unfortunately you're limited to doing this with reasonable business expenses.... in the case of a professional poker player this would definitely be stuff like books, computers, relevant software, etc... if you stretch maybe you can write off part of your rent/mortgage as a home office expense, etc... if you travel to play live tournaments then I'm guessing you could treat airfare and hotels this way.... so, the more I think about it, the more it seems to me as if it might be worth talking to an accountant about.