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Search: Posts Made By: rocketplayer
Forum: Business, Finance, and Investing 06-09-2007, 12:19 AM
Replies: 7
Views: 57
Posted By rocketplayer
Re: IRA and Poker

[ QUOTE ]
You will need to file as a a pro and not go over the max to put money in an IRA.

[/ QUOTE ]

You do need to file as a pro and pay SE tax.

However, there is no MAX you can not go...
Forum: Business, Finance, and Investing 06-09-2007, 12:07 AM
Replies: 19
Views: 385
Posted By rocketplayer
Re: estimated taxes

[ QUOTE ]
I was in the same situation as the OP and this year decided to just stop paying estimated taxes and invest the money but pay the penalty at the end of the year. Does anyone see anything...
Forum: Business, Finance, and Investing 06-08-2007, 11:59 PM
Replies: 24
Views: 113
Posted By rocketplayer
Re: Stop contributing to my Roth IRA?

a professional's profit is subject to SE tax and thus IS EARNED INCOME
Forum: Business, Finance, and Investing 05-26-2007, 04:11 PM
Replies: 10
Views: 218
Posted By rocketplayer
Re: Maxing out my SEP-IRA for 2007?

A sep is much more complicated calculation then an IRA. Can you put money in now? Yes, but if you have no income your penalties are huge to withdraw. Best to have income for sure before you take a...
Forum: Business, Finance, and Investing 05-26-2007, 01:29 AM
Replies: 10
Views: 95
Posted By rocketplayer
Re: Business Mileage Question

start reading on page 14

http://www.irs.gov/pub/irs-pdf/p463.pdf
Forum: Business, Finance, and Investing 05-26-2007, 01:19 AM
Replies: 10
Views: 218
Posted By rocketplayer
Re: Maxing out my SEP-IRA for 2007?

you can't contribute until u have earned the money making the contribution legit
Forum: Business, Finance, and Investing 05-24-2007, 12:11 AM
Replies: 10
Views: 95
Posted By rocketplayer
Re: Business Mileage Question

since you have no assigned office you could write off your auto from the moment you leave your house and decide if actual epxenses or the mileage rate work better.

You also probably qualify for a...
Forum: Business, Finance, and Investing 02-25-2007, 09:18 PM
Replies: 1
Views: 89
Posted By rocketplayer
Re: Contributing to a SEP IRA and later filing as unemployed

Where did you get the idea you qualified as a professional?

Also, you face 6% excise tax on excess funding a SEP that is not allowed.

I also think you run a dangerous prescedent that you looked...
Forum: Business, Finance, and Investing 02-09-2007, 03:09 AM
Replies: 1
Views: 88
Posted By rocketplayer
Re: Tax Question??

you will likely lose under audit if have a full-time job but maybe you can be the case we are all waiting for who takes it to court and wins
Forum: Business, Finance, and Investing 02-09-2007, 03:03 AM
Replies: 2
Views: 219
Posted By rocketplayer
Re: IRA for a minor

absolutely subject to self-employment tax at 15.3%
Forum: Business, Finance, and Investing 02-06-2007, 02:44 AM
Replies: 3
Views: 75
Posted By rocketplayer
Re: Is there anywhere online you can access stock price pages?

[ QUOTE ]
The Wall Street Journal and other newpapers have pages of stock and bond quotes. Can you view something like that online?

[/ QUOTE ]

man now we know where the fish came from
Forum: Business, Finance, and Investing 02-06-2007, 02:43 AM
Replies: 6
Views: 91
Posted By rocketplayer
Re: tax question regarding stock sales

[ QUOTE ]
yeah, i looked at the 1099 and noticed this.

so what should i do? so the irs gets this form, from tdameritrade, but no info about my basis, am i more likely to get audited? thanks.
...
Forum: Business, Finance, and Investing 02-05-2007, 02:41 AM
Replies: 6
Views: 91
Posted By rocketplayer
Re: tax question regarding stock sales

Not putting the cost basis into the program
Forum: Business, Finance, and Investing 02-02-2007, 02:35 AM
Replies: 4
Views: 58
Posted By rocketplayer
Re: Capital Gains Tax

[ QUOTE ]
Do u still pay capital gains tax even when u re invest profit immediatly

[/ QUOTE ]

You don't have a great record in cashing out winners do you?

There is no such thing as...
Forum: Business, Finance, and Investing 01-26-2007, 12:17 AM
Replies: 9
Views: 78
Posted By rocketplayer
Re: Can I deduct health insurance for my sister\'s family?

S corp will not work. You need to have a salary 9wages) to qualify for employee health benefits

and yes your sister would have to pay social security and medicare and you as employer would have to...
Forum: Internet Gambling 01-25-2007, 11:23 PM
Replies: 24
Views: 118
Posted By rocketplayer
Re: PTRACKER PAT IS THE SHIZNIT!!!!!!!!

he has done this for me as well refunding my money
Forum: Business, Finance, and Investing 01-25-2007, 12:17 AM
Replies: 9
Views: 78
Posted By rocketplayer
Re: Can I deduct health insurance for my sister\'s family?

neither on schedule a nor as self-employed medical unless they are your dependent
Forum: Business, Finance, and Investing 01-25-2007, 12:15 AM
Replies: 3
Views: 54
Posted By rocketplayer
Re: Financial Show Podcasts

http://www.businesstalkradio.net/weekday_host/Archives/gk.shtml

gary kaltbaum is excellent
Forum: Internet Gambling 01-24-2007, 11:17 PM
Replies: 23
Views: 234
Posted By rocketplayer
Re: Anyone Receiving NETELLER Debit Cards?

I paid $21 and got it in 3 days and have made 3 cashouts already
Forum: Internet Gambling 01-21-2007, 03:17 AM
Replies: 7
Views: 56
Posted By rocketplayer
Re: It All Started with some crummy Chads in Florida

[ QUOTE ]
[ QUOTE ]
Do you think the US Govt would be spending so much money and time trying to hassle some poker players if some friggin chads had not screwed up the election in Florida in 2000? ...
Forum: Business, Finance, and Investing 01-04-2007, 02:24 AM
Replies: 26
Views: 274
Posted By rocketplayer
Re: Financial Adviser Worth It?

[ QUOTE ]
most have less money than you do. so why ask them for advice. but if you want advice, only pay an hourly rate and nothing else unless you are a fool.

[/ QUOTE ]

maybe one of the...
Forum: Business, Finance, and Investing 01-04-2007, 02:17 AM
Replies: 12
Views: 431
Posted By rocketplayer
Re: Quick tax question

gambling income is reported on misc income line and rakeback and bonuses are most definitely gambling gross income.
Forum: Affiliates/RakeBack 12-31-2006, 05:57 PM
Replies: 127
Views: 871
Posted By rocketplayer
Re: bodog rakeback

Can you close your Bodog account (existing) and wait a few months and sign-up anew and get rakeback?

If so please PM me
Forum: Internet Gambling 11-30-2006, 03:45 AM
Replies: 7
Views: 188
Posted By rocketplayer
Re: Play at Party from within the US?

Sure and when they call you sometime for verification and they can't reach you they freeze your account and maybe seze it.

Sounds like a sound plan
Forum: Internet Bonuses 11-29-2006, 07:57 PM
Replies: 8
Views: 206
Posted By rocketplayer
Re: Does Bodog tell you when your bonus is cleared?

Easy to keep track of. Just check your points when you deposit (write it down so you remember) and mutliply bonus by 3, add this to point balance above and then you know the balance you need to...
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