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Old 08-28-2007, 06:57 PM
brandysbich brandysbich is offline
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Join Date: Apr 2006
Posts: 783
Default Ever appropriate to ask SSNL how they handle poker taxes?

If this isnt allowed please delete this post and accept my apologies.

I know theres a lot of us here who make decent money at poker, whether it be on the side of a job or college or whether it be your only source of income. I think a large majority of SSNL is in the 4k-8k range/month (i know theres a few that make a lot more) but it just feels like a bit of an overkill to go and hire a poker tax specialist for hundreds an hour to work out our moderate winnings.

Are most of you guys filing as a pro? (I feel a bit awkward about going to a specialist and calling myself a pro if i'm only making 4k/5k a month)

Are you guys happy filing it as a hobby and paying slightly more taxes with less legwork to do come taxes time?

Does anybody know how much of a chunk taxes takes out of our profits? Even doing a bit of research its hard to put a % on it cos it varies on so many things

Any advice from guys out there who have gone through this a year or 2 already on what kind of records we need to keep besides PT to make taxes time easier.

I know its nowhere near taxes time but it never hurts to be prepared and its something we all going to have to go through come April no matter how we file it.

Any feedback would be helpful (yes we know you guys in the UK dont pay taxes)

Thanks
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