#11
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Re: My accountant says that I cant...
Your social security benefits are also relient on earned income. Like that's going to be around by the time most people here retire anyway. [img]/images/graemlins/confused.gif[/img]
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#12
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Re: My accountant says that I cant...
thanks for all the help guys.
just sucks now that i have to go back to a very shitty internship this summer to make that money. well its still money, im gonna stop complaining now. -light |
#13
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Re: My accountant says that I cant...
[ QUOTE ]
thanks for all the help guys. just sucks now that i have to go back to a very shitty internship this summer to make that money. well its still money, im gonna stop complaining now. -light [/ QUOTE ] Look at it this way...if you just had your internship, you would put x% of all your "earnings" into savings. With your poker play, you can put more money into savings and have it be a lower percentage of your total earnings (earned income plus poker). Another thing...IRAs are not the only way to save for the long-term. You can open up a typical brokerage account to save if you would prefer to save your poker winnings and not take on an internship position. Acme |
#14
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Re: My accountant says that I cant...
I'm curious why you ended your subject with '...' instead of writing out "fund IRA", or "Fund IRA w/ Poker $" or something like that.
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#15
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Re: My accountant says that I cant...
If you file under Schedule C as a professional gambler, you can invest up to $42,000 in a Uni-K 401 plan, the first $15,000 of which is deferred taxable income.
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