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Old 04-17-2007, 06:42 PM
FoxwoodsFiend FoxwoodsFiend is offline
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Join Date: Nov 2004
Location: i ain\'t got my taco
Posts: 4,497
Default Re: Official April Thread: General Discussion/etc

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you bring up a good point: it is my belief that everyone is playing over their roll right now. i mean esriously, how can anyone be properly rolled for 5/10 after taxes?

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i put aside money for taxes (always a rough estimate of what i'll owe in addition to my previous quarterly payments) and don't count it as my bankroll, and i also only play stakes i'm overrolled for. is that a good enough answer?

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Is "quarterly payments" the recommended play when it comes to paying taxes from poker? also, are there any forums specific to taxes?

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I can't understand how many poker players don't have accountants: if you're not paying quarterly estimated payments as a professional gambler you are going to get hit with fines (pretty massive ones that are big enough that you should go to an accountant and talk to him) if this is your 2nd year as a professional gambler. I'm pretty positive about that last part (2nd year), but I'm absolutely sure about the fines: I paid about $900 in fines just for underpaying in my estimated payments last year.