Re: WSOP & the IRS.
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Yeah thats the same thing here in Canada. If I was to win 10 Mill on the loto, I win 10 Mil.
I think its so worng to take taxes away from the winniers, What happen last year when people won just over 10K, did they actully win less money then their buy in (after taxes).
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Not true.
There is no tax payable on Canadian ** Government ** lotteries.
Since the payout is a ridiculous 40%...
You are being taxed 60% up front when you buy the ticket.
That's why only a "moran" would buy a lottery ticket.
All other gambling income is taxed as ordinary income...
So keep good records and hire a good accountant...
If you want to keep your money.
rm+
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