Re: Question for pros, how do you \"pay\" yourself?
[ QUOTE ]
[ QUOTE ]
Another question to add to this.
When going in the bank I often have problems getting some credit services due to not having contractual employment (and thus more guarenteed income for them).
Do you class it as simply income? Self employed? How do you get around not having a contract?
[/ QUOTE ]
I've often wondered this as well...
Do pros incorporate themselves, perhaps creating a LLC with themselves as the sole employee?
I've heard of groups of independant computer consultants that all work under a shell organization in order to take advantage of tax and insurance related stuff. Not sure if this type of thing would relate to the cash based poker world, but still curious...
[/ QUOTE ]
My dad gave me this advice. He said I should start a company as me as the sole employee. Then give myself a paycheck, and write off crazy buisness expenses instead of claiming pro gambler. He was vague on the details but it seemed like he knew what he was talking about. This is also what drug dealers do.
|