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#1
06-28-2007, 06:25 PM
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Fult Tilt Rakeback... is it too late?
I have been playing on FTP for a while now and have only found out about rakeback two weeks ago. I don't want to switch sites because I like it here, the games are soft, and I make a good deal. However, I lose a ton to rake (as does everyone else). Am I just totally [censored] then and have no chance of getting rake back for this site?
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#3
06-28-2007, 06:28 PM
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Re: Fult Tilt Rakeback... is it too late?
[censored].
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#4
06-29-2007, 03:38 PM
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Re: Fult Tilt Rakeback... is it too late?
Set up a new account using the name of a close relative. I just set up an account using my mother's name. When I cash out I will have a check sent to her. I'm going to have her deposit it and transfer me the money.
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#6
07-02-2007, 01:51 PM
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Re: Fult Tilt Rakeback... is it too late?
I just made a new login back then, however I never deposited to the login I used to have without the registered rakeback.
They found out and said that they will close my old one and let me use the new one I made, so it worked out.
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#7
07-04-2007, 06:47 PM
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Re: Fult Tilt Rakeback... is it too late?
[ QUOTE ]
Set up a new account using the name of a close relative. I just set up an account using my mother's name. When I cash out I will have a check sent to her. I'm going to have her deposit it and transfer me the money. [/ QUOTE ] I'm entertaining this idea, but what would I do if I want to be legit as far as the IRS is concerned? Who claims the winnings and pays the taxes -- myself or my close relative to whom the check is sent?
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#8
07-04-2007, 08:43 PM
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Re: Fult Tilt Rakeback... is it too late?
[ QUOTE ]
[ QUOTE ] Set up a new account using the name of a close relative. I just set up an account using my mother's name. When I cash out I will have a check sent to her. I'm going to have her deposit it and transfer me the money. [/ QUOTE ] I'm entertaining this idea, but what would I do if I want to be legit as far as the IRS is concerned? Who claims the winnings and pays the taxes -- myself or my close relative to whom the check is sent? [/ QUOTE ] Dont pay taxes LDO
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#9
07-05-2007, 01:39 AM
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Re: Fult Tilt Rakeback... is it too late?
[ QUOTE ]
[ QUOTE ] Set up a new account using the name of a close relative. I just set up an account using my mother's name. When I cash out I will have a check sent to her. I'm going to have her deposit it and transfer me the money. [/ QUOTE ] I'm entertaining this idea, but what would I do if I want to be legit as far as the IRS is concerned? Who claims the winnings and pays the taxes -- myself or my close relative to whom the check is sent? [/ QUOTE ] I am not 100% positive about this, but I would have to assume, technically, they would be ultimately responsible since the check is made to them regardless of who played on the account or who really was receiving the money.
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#10
07-05-2007, 02:28 AM
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Re: Fult Tilt Rakeback... is it too late?
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Set up a new account using the name of a close relative. I just set up an account using my mother's name. When I cash out I will have a check sent to her. I'm going to have her deposit it and transfer me the money. [/ QUOTE ] I'm entertaining this idea, but what would I do if I want to be legit as far as the IRS is concerned? Who claims the winnings and pays the taxes -- myself or my close relative to whom the check is sent? [/ QUOTE ] I am not 100% positive about this, but I would have to assume, technically, they would be ultimately responsible since the check is made to them regardless of who played on the account or who really was receiving the money. [/ QUOTE ] The person who actually earns the income would be responsible for paying the taxes. It's like if you had your paycheck deposited into your mother's bank account -- you would still have to pay the taxes, not your mother. There is of course the issue that the checks will be in your mother's name. If for whatever reason your mother was audited and the auditor saw these checks being deposited into her account she would have to explain why. It would certainly help if there was a solid paper trail whereby the auditor could see the income was reported on your tax return. Perhaps on your return report gambling income deposited into your own bank account on one line, and write in "other gambling income" and then report the amounts that were deposited into your mother's account. You may also want to have your mother sign the checks over to you so they can be deposited directly into your account. If there was an audit the whole thing would come down to a verifiable paper trail and credibility. Your mother would have to be able to convince the auditor it was you and not her (or her husband) who was making money by playing poker. However, you have to be aware the auditor doesn't have to accept any of this and based on the checks being in your mother's name he could determine it was all her income and it should be reported on her return. She would then face penalties and interest on the unreported income. If your mother has a very basic tax return (just employment income) and the amounts of these poker deposits aren't that great then the liklihood of her ever being audited is probably remote. Also please advised this is all just my opinion and not the position of the IRS.
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