Forum: Poker Legislation
04-19-2007, 05:15 PM
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Replies: 25
Views: 103
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Forum: Poker Legislation
04-19-2007, 04:40 PM
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Replies: 25
Views: 103
Re: Which job title?
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"What type of elections are you talking about? Thanks"
The ones everyone made a choice on, including you. If not this year then sometime in the past. But if Neteller is not an issue,...
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Forum: Poker Legislation
04-19-2007, 04:08 PM
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Replies: 25
Views: 103
Re: Which job title?
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... The title is one thing, but what about the all important elections that must be made on your first Business tax return ...
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What type of elections are you talking...
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Forum: Poker Legislation
04-19-2007, 04:06 AM
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Replies: 25
Views: 103
Re: Which job title?
I'm not talking about what's legally/technically correct. It's grey enough that you could call it "event forecasting consultant", and not get in any trouble at all if audited.
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Forum: Poker Legislation
04-19-2007, 01:59 AM
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Replies: 25
Views: 103
Re: Which job title?
I have a thread on this going right now....the conclusion i've come to is that, as long as you're filing as a pro, i don't see why you can't list anything that's a little ambiguous, as long as it's...
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Forum: Poker Legislation
04-18-2007, 06:54 PM
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Replies: 14
Views: 84
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Forum: Poker Legislation
04-18-2007, 05:30 PM
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Replies: 14
Views: 84
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Forum: Poker Legislation
04-18-2007, 04:45 PM
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Replies: 14
Views: 84
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Forum: Poker Legislation
04-12-2007, 06:18 PM
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Replies: 14
Views: 84
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Forum: Poker Legislation
03-15-2007, 04:26 PM
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Replies: 17
Views: 247
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Forum: Poker Legislation
03-15-2007, 04:20 PM
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Replies: 17
Views: 247
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Forum: Poker Legislation
03-10-2007, 03:28 PM
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Replies: 53
Views: 174
Re: Online Pros...deducting your rent?
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In theory, yes....in practice, no. I doubt most folks have filled out Schedule B and TDF 90-22.1 if they have/had over $10k in offshore accounts.
[/...
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Forum: Poker Legislation
03-09-2007, 03:50 PM
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Replies: 53
Views: 174
Re: Online Pros...deducting your rent?
Lottery - you're laying on the drama a little too thickly here. OP *is* able to deduct some home office rent. Even if he takes an extremely aggressive position by deducting way more than he should,...
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Forum: Poker Legislation
03-09-2007, 11:45 AM
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Replies: 53
Views: 174
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Forum: Poker Legislation
03-09-2007, 11:44 AM
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Replies: 53
Views: 174
Re: Online Pros...deducting your rent?
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... You can cheat the IRS all of your life. Get audited and caught ONCE and let us know if it was worth it. Lot of people like to sell crack and think the risk is worth it. The OP didn't...
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Forum: Poker Legislation
03-09-2007, 11:40 AM
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Replies: 53
Views: 174
Re: Online Pros...deducting your rent?
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Deducting this type of expense is bad stretegy, makes for a poor presentation and has a high audit risk. Keep this deduction in your "back pocket" and get creative with other deductions.
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Forum: Poker Legislation
03-09-2007, 11:38 AM
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Replies: 53
Views: 174
Re: Online Pros...deducting your rent?
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In theory, yes....in practice, no. I doubt most folks have filled out Schedule B and TDF 90-22.1 if they have/had over $10k in offshore accounts.
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If you're a...
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Forum: Poker Legislation
03-08-2007, 03:35 PM
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Replies: 53
Views: 174
Re: Online Pros...deducting your rent?
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.....Also, he also said that since we all have over $10k in offshore accounts, which includes neteller and any other e-wallet, we are more likely to get audited in the future anyway, so...
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Forum: Poker Legislation
03-08-2007, 02:58 PM
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Replies: 53
Views: 174
Re: Online Pros...deducting your rent?
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Not +EV since you are much more likely to get audited. Don't make any home office related deductions unless it will make a significant difference.
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Not true at all.... it...
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Forum: Poker Legislation
02-26-2007, 06:18 PM
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Replies: 43
Views: 313
Re: Just finished up my taxes
There are no concerns with money laundering issues. We, as players, have no legal liability. As long as you've paid your taxes (and filed form TDF 90-22.1 as necessary), you're all set. The minor...
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Forum: Poker Legislation
02-26-2007, 05:58 PM
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Replies: 43
Views: 313
Re: Just finished up my taxes
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Not gambling related. Just business structure
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Can you give us a quick summary? (i have my own business as well)
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Forum: Poker Legislation
02-26-2007, 04:20 PM
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Replies: 43
Views: 313
Re: Just finished up my taxes
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Remember to take those deductions for other things. Many times, you will have deductions that are not worth itemizing because the standard dedution is larger. Now that you are "forced"...
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Forum: Poker Legislation
02-26-2007, 12:03 AM
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Replies: 34
Views: 211
Re: Scared of the IRS
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.... I will pay taxes on as close to the net winnings as I can attain, less the amount frozen indefinitely (I will wait till the last minute to see if I ever get them).
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Forum: Poker Legislation
02-25-2007, 11:56 PM
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Replies: 34
Views: 211
Re: Scared of the IRS
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isn't it about time that the sites helped us out? they have the details needed.
the problem is that the us govt shafts gamblers in several ways...the worst is not allowing netting and...
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Forum: Poker Legislation
02-20-2007, 07:08 PM
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Replies: 117
Views: 423
Re: Frozen Neteller funds *ARE* taxable
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And chances are, the worst that would happen is that the taxpayer would only pay penalties, and that's only if they are caught. But that's more of a risk management...
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