How much to live at Bellagio?

[AceCR9]

living at the Bellagio- BBV style super baller!

[bav]

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No problems on the mortgage. Just show your income on your tax returns. Income is income for the mortgage folks. Credit ratings matter more.

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And you HAVE been declaring your poker income, right?

Several times I've seen folks complaining about how they can't get a loan or a mortgage 'cause their 1040 only shows $25K/yr of income, but they ACTUALLY make $80K with tips or under-the-table income. It's just NOT FAIR!!! Yeah...like the rest of us who actually pay our income tax are gonna be sympathetic?

[Guthrie]

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or 25k in tax writeoffs per month. I know this is how many actors live, bouncing from hotel to hotel intentionally without a home.

TT [img]/images/graemlins/club.gif[/img]

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You can't get a tax writeoff for living in a hotel. If you go somewhere temporarily to work, you might write off living expenses. If you live in a hotel however, it's no more a writeoff than rent or a mortgage payment on a house, condo or apartment. Being a poker player or actor confers no special status with the IRS.

[dlk9s]

If someone doesn't want to be tied down to a house, he could always rent a house or a nice apartment.

[*TT*]

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or 25k in tax writeoffs per month. I know this is how many actors live, bouncing from hotel to hotel intentionally without a home.

TT [img]/images/graemlins/club.gif[/img]

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You can't get a tax writeoff for living in a hotel. If you go somewhere temporarily to work, you might write off living expenses. If you live in a hotel however, it's no more a writeoff than rent or a mortgage payment on a house, condo or apartment. Being a poker player or actor confers no special status with the IRS.

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without a home was subjective, I meant going somewhere else to work as you stated.

TT [img]/images/graemlins/club.gif[/img]

[KurtSF]

I have a good friend who is in a profession where all of his income is under-the-table (not poker). Its well known in the biz that if you report your income and pay your taxes its easy to get a home loan. With a 10 year history of making $$$ its no different than a normal "job". Don't report your income and you're a cash-only degen for life.

If it really is a hobby and you make a little money on the side - what [consored] ever. If this is your profession just report your income, it leads to a lot less hastle - and jail time - in the end.

Damn I wish I was Canadian.

[Rosencrantz1]

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You just . . .write it off.

Write WHAT off?

I don't know. But they do, and they're the ones writing it off.

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YES!!!

[MicroBob]

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[consored]

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