|
|
#21
02-19-2006, 10:23 PM
|
|||
|
|||
Re: Best place to live in world to play Internet Poker (Taxes/Cost of
[ QUOTE ]
[ QUOTE ] You can not avoid paying the US income tax simply by moving out of the country. Enjoy! [/ QUOTE ] Yes, u can. Enjoy. [/ QUOTE ] He's right. You can if you plan to renounce US citizenship or you don't mind running from the IRS. Otherwise you pay to play wherever you are. As for tax treaties, this basically means that you are paying taxes to the other country and can prove it to the US. Also as a poker player you are not exempt from self employment tax abroad. FWIW I am a poker player abroad. Enjoy. 
|
|
#22
02-19-2006, 10:27 PM
|
|||
|
|||
|
Re: Best place to live in world to play Internet Poker (Taxes/Cost of
That's capped at 80k, I believe, however.
I would still owe more taxes if I moved abroad to play poker.
|
|
#23
02-19-2006, 10:28 PM
|
|||
|
|||
|
Re: Best place to live in world to play Internet Poker (Taxes/Cost of
Er.. you guys are forgetting that it's EARNED INCOME from living abroad that is exempted. Gambling income does not qualify as EARNED INCOME for the exemption. You still have to pay taxes on it if you're a US citizen.
|
|
#24
02-20-2006, 12:02 AM
|
|||
|
|||
|
Re: Best place to live in world to play Internet Poker (Taxes/Cost of
The IRS still needs records of your income; can you play abroad and hide your poker income in some foreign bank accounts, wonder how that works?
IRS is greedy, wtf, and they're so arrogant: "I don't care if you no longer live here, you still have to pay us taxes"
|
|
#25
02-20-2006, 12:13 AM
|
|||
|
|||
|
Re: Best place to live in world to play Internet Poker (Taxes/Cost of
yeah, basically a legitamized form of the mafia.
|
|
#26
02-20-2006, 12:20 AM
|
|||
|
|||
|
Re: Best place to live in world to play Internet Poker (Taxes/Cost of
Why does everyone in every one of these threads make it such a big deal about living in the U.S.? Like giving up your citizenship is the end of your life or something.
People live happily in the U.K. and Australia. It's hard to believe but it's true.
|
|
#27
02-20-2006, 12:22 AM
|
|||
|
|||
|
Re: Best place to live in world to play Internet Poker (Taxes/Cost of Liv)
I'm Irish and I prefer to play in Thailand for about most of the year.
In Ireland poker winnings are not taxable but the cost of living is one of the highest in Europe and indirect taxes are high (21% sales tax). You still have to play with the US players evening players so I would play in the 10.00pm to 6.00am or latter range. Firstly gambling is illegal in Thailand. I believe chances of it being an a problem are quite small though some of the betting sites with pokerrooms are blocked. Thailand I play from about 8.00 to 2.00pm the rest of the day is my own. Tropical weather and beaches, very cheap cost of living, the women etc... Always be folding
|
|
#28
02-20-2006, 12:28 AM
|
|||
|
|||
|
From my experience...
I see these types of posts quite often. I play full time and live abroad.
First of all...You cannot just up and move to a country of your choice. You can easily get a lengthy (6month-1year or more) visitor Visa in most cases. But to establish permanent residence in another country typically takes a lot of effort, time, and some fees. I'm only in Canada. My wife is Candadian. Even with that it's taking me a minimum of 8 months just to get an open work permit and establish residency. If I wanted to just make the move individually it would take closer to 2 years. Not to mention that you have to qualify if it's not through marriage. I have an Engineering degree, 7 years of engineering experience, Speak the language fluently (obviously), and am in the desired age group for immigration. I would barely qualify as a skilled worker. Now...there are easier ways. However that is typically getting a temporary work permit to start...working for a period of time...and submitting an application for residency while there. This is still a lengthy process with an unbelievable amount of paperwork. And Professional Gambling wouldn't cut it. So basically...it's much much more difficult than most people think. Secondly...you are absolutely positively NOT automatically excempt from paying US taxes. There are deductions up to $80k (currently) gross income for an individual return that may apply. However, poker playing is not "earned income abroad" therefore is not necessarily exempt. Believe me, the IRS has thought about this possibility as well (not specifically with poker but generally). So really, the only way to get tax free poker income for a US Citizen is to go through a typically long and difficult process of permanently residing abroad and basically renounce US Citizenship. And...likely never be able to return to the US. Not to mention that some other countries that don't tax gambling income do tax it if it's your primary income. So...I'd suggest just moving where you prefer in or outside of the US but not doing so based on some likely inaccurate perception that it will save you a lot of tax money. It is not that simple.
|
|
#29
02-20-2006, 12:42 AM
|
|||
|
|||
|
Re: Best place to live in world to play Internet Poker (Taxes/Cost of Liv)
move to tennessee. i just visited my grandparents, and i saw a real estate mag. it had some 4 bedroom houses on 10 acres of land for less than 200k. if it didn't suck to live there, i would move in a sec. can't even buy a [censored] condo for 200k here anymore.
|
|
#30
02-20-2006, 12:52 AM
|
|||
|
|||
|
Re: Best place to live in world to play Internet Poker (Taxes/Cost of
[ QUOTE ]
Why does everyone in every one of these threads make it such a big deal about living in the U.S.? Like giving up your citizenship is the end of your life or something. [/ QUOTE ] Are you talking about just straight giving up your U.S. citizenship without taking on another one? Because that is an extremely bad idea.
|
 |
|
|
Linear Mode
