Re: Ed Miller\'s Tax Article
[ QUOTE ]
That's why we suggest finding a real CPA that knows the tax law and is familar with the gambling laws, as opposed to going to some random at HR Block that knows less about the tax code than many of us on here.
[/ QUOTE ]
Point well taken. Is there a directory of gambling-savvy CPAs? If not, there should be (e.g. there's a market for this service!). Additionally, I wonder if you all might be able to speculate as to how much a player needs to be making in a year to justify hiring a qualified CPA and going the sched C route. I am seriously considering trying to set this up for CY2006, while paying taxes on my poker income as a recreational player in CY2005. If I'm only making a few thousand a year playing (lets surmise $8K), then is the Schedule C setup worth the cost of hiring a CPA?
|