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#1
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I recently took a 6 month hiatus from work to play professionally and things have worked out well, good enough that I’m going to continue at least for another 6 months. By doing that, my only income for the year will be from playing poker. However, I have no idea how I should be approaching this from a tax preparation/planning standpoint. I assume I can write off some % of my traveling expenses, etc. Overall, I want to understand how to best approach this before tax season comes up and I'm left scrambling. Should I just walk into an accounting firm and ask for someone who specializes in poker/gambling law? Also, I live in the SF Bay Area so any recommendations specific to that area would be even better.
If this has been discussed before, I'd greatly appreciate a link. If this doesn't belong in BBV, if you could point me in the right direction many thanks. |
#2
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take a dump on your lawn and have your accountant clean it up, then don't invite him to your hudge party
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#3
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Do a search in the internet gambling forum. Youll find a ton of info. also, go buy "The gamblers guide ot taxes."
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#4
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[ QUOTE ]
If this doesn't belong in BBV [/ QUOTE ] R U SRS? |
#5
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the direction is down after you don't hang yourself
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#6
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There are a couple of books out there (Gambler's Guide to Taxes and "How to Turn Your Poker Playing into a Business") but even if you read both they are still lacking some important advice. I've read both then met with a CPA from a very large accounting firm and there were still many things not covered by either book that were important and relevant. A good CPA will actually read the case law/histories to find specific things the IRS has done and lessen the likelihood you get audited (or make is as painless as possible.)
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#7
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I'll ask this in the gambling forum as well - but does anyone have a good accountant doing there taxes in ATL?
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