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delta k
01-26-2007, 03:28 AM
I live in the US. I made $15k from poker according to PT in 2006 playing part-time during school, and another 5k or so in bonus/rb, so about $20k total. What am I looking at for taxes? Specifically, how much (roughly) am i going to need to give back? Is it worth paying taxes on this small amount (what are the risks of not paying on such a puny income?). Since everything is tracked via neteller and my bank account deposits, the govt will know/probably already knows how much i've made, right?

thanks

The Worm
01-26-2007, 03:30 AM
Pay your taxes. Since you are a student you will pay less.

delta k
01-26-2007, 03:42 AM
[ QUOTE ]
Pay your taxes. Since you are a student you will pay less.

[/ QUOTE ]

ok well my records are iffy, because i've played on a few different computers, no record of rakeback/bonuses, etc. so if i'm going to say $20k why not just say $17k? Or $13k or just not pay? Is it worth just picking some comfortable number and going with that? If I knew the exact number that'd be one thing, but as it is I'm just going to be guessing, is there any reason not to have a very low guess? and at some point aren't i exempt from taxes (or did i make too much?)

The Worm
01-26-2007, 03:50 AM
You arent exempt. YOu also have access to all the deposits you made and that is enough info to figure out how much money you made.

BLdSWtTRs
01-26-2007, 04:52 AM
[ QUOTE ]
[ QUOTE ]
Pay your taxes. Since you are a student you will pay less.

[/ QUOTE ]

ok well my records are iffy, because i've played on a few different computers, no record of rakeback/bonuses, etc. so if i'm going to say $20k why not just say $17k? Or $13k or just not pay? Is it worth just picking some comfortable number and going with that? If I knew the exact number that'd be one thing, but as it is I'm just going to be guessing, is there any reason not to have a very low guess? and at some point aren't i exempt from taxes (or did i make too much?)

[/ QUOTE ]

Your results are iffy? Just check your bank statements.