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I've been playing poker for supplementary income since 2003 and declared wons/losses and paid taxes each year 2003-2005.
I've been playing as sole source of income since April of this year. Today I get the 1040-ES in mail asking me for estimated tax by Sept15 and Jan 16. Some questions I have. 1. Can you recommend a good CPA in/near Green Bay, WI who handles gamblers filings? 2. Has anyone received these? did you receive it only after playing as sole income? 3. Based on their charts and my estimates, the amount I'll be paying on winnnings will be less than 20%. This cant be right. What am I missing? 4. Also, how do I estimate for different dates? Is Sept 15 one for all money I made from poker through then? and Jan for rest of 2006? 5. Is there any important info you can give me not included in questions above? Thanks alot, this is new to me. |
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