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Old 06-21-2007, 02:56 AM
jason6633 jason6633 is offline
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Join Date: Jun 2007
Posts: 29
Default Re: WSOP Windfall... What am I to do?

If your a professional player (and your winnings suggest so) have you considered the possibilty of expatriation? Seeing as a professional online player has reasons to reside out of the united states it is an option worth thinking of. By formally moving your permanent residency out of the country you have the potential to severely limit your tax liability, and do so legally. Remember not only income earnings but investment earnings like dividends and capital gains. Think of the increased cumulation to a non-taxable brokerage account.

Not that you have to give up your homeland and country, but is spending half the year and a day elsewhere (think beeches and resort living) so bad? You can still visit whenever you like, fammily friends and B&M casino's / tournamnents. Just an idea fwiw.
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