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#1
08-15-2007, 09:18 AM
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POKERSTARS checks, can I use other names???
You know how Pokerstars give you the option beofre each cashout to send a check to a current name and adddress? Well couldn't you just put in whatever name you wanted???
Hypothetically if you trusted people in your family couldn't you make out the checks to them and have them cash them for you??? You could do this in small incriments to each family memeber and then have them do inter bankaccount transfer to your account once you get the money and say it is your annnual 10k gift to a family memeber that would be considered tax free [img]/images/graemlins/laugh.gif[/img] [img]/images/graemlins/laugh.gif[/img] Just a question, has anyone done this? Thanks, GO 
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#4
08-15-2007, 11:36 AM
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Re: POKERSTARS checks, can I use other names???
If your family members are as honest as yourself, this sounds fullproof. I don't see any potential problems with this at all, and I am sure Pokerstars will be more than happy to accomodate your request.
I suggest that you implement this plan immediately.
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#7
08-15-2007, 01:05 PM
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Re: POKERSTARS checks, can I use other names???
[ QUOTE ]
You know how Pokerstars give you the option beofre each cashout to send a check to a current name and adddress? Well couldn't you just put in whatever name you wanted??? Hypothetically if you trusted people in your family couldn't you make out the checks to them and have them cash them for you??? You could do this in small incriments to each family memeber and then have them do inter bankaccount transfer to your account once you get the money and say it is your annnual 10k gift to a family memeber that would be considered tax free [img]/images/graemlins/laugh.gif[/img] [img]/images/graemlins/laugh.gif[/img] Just a question, has anyone done this? Thanks, GO [/ QUOTE ] You really offer nothing to this forum.
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#8
08-15-2007, 01:06 PM
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Re: POKERSTARS checks, can I use other names???
I'm all for looking for ways to reduce tax liablilty but there is a huge flaw in your plan, which makes it worthless. When your relative receives the check, it becomes taxable income for them. You are correct in that each year a person may "gift" a tax exempt amount of up to 11K, and that would keep you from owing any taxes. So if you want to shift the tax burden/tax evasion to your relatives, then go for it!
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#10
08-15-2007, 01:44 PM
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Re: POKERSTARS checks, can I use other names???
[ QUOTE ]
What if you owe someone money and would rather just send them a PS check to cover the debt? [/ QUOTE ] Let's stop and think about better ways to go about doing this. It may be hard, but I'll give you until tomorrow morning.
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