Tax Question with Staker in UK

[HojoMofo]

Hello, I was wondering what the proper tax protocol is when you have a staker who lives outside of the country (UK). Recently had a sizable score, and need to get this all straightened out so I am not vulnerable.
138k, 30% to me (42k) other chunk going to staker in UK.
Thanks

[DeadMoneyDad]

[ QUOTE ]
Hello, I was wondering what the proper tax protocol is when you have a staker who lives outside of the country (UK). Recently had a sizable score, and need to get this all straightened out so I am not vulnerable.
138k, 30% to me (42k) other chunk going to staker in UK.
Thanks

[/ QUOTE ]

Who are you in the deal, where do you live, and has there been any withholding in the player's name?


D$D

[Clayton]

whatever your share is should be wired into your american bank account, and whatever that amount is should be what you have to pay taxes on.

everything else goes to the UK guy, and he handles that with his own tax situation.

i had a 50% share of a 240k score, and I simply xferred the other 50% to my backer, then wired out my share of which I will pay taxes on next year.