rakeback and taxes

straight6 · #1 03-16-2007, 06:52 PM

how is rakeback handeld for taxes?
taxfree because its a deduction of the rake?

Niediam · #2 03-16-2007, 08:32 PM

You owe taxes on it because you didn't declare the rake you paid as income.

straight6 · #3 03-16-2007, 10:16 PM

well rakeback is a reduction of the rake .. why pay taxes on rake you didnt pay technically ?

KEW · #4 03-16-2007, 11:25 PM

Rakeback is taxable..If you want an explanation goto the legislation forum it has been discussed about 1,000,000 times since Jan 1st...

straight6 · #5 03-17-2007, 12:43 AM

i tried the search function and cant find it
any help?

KEW · #6 03-17-2007, 01:18 AM

[ QUOTE ]
i tried the search function and cant find it
any help?

[/ QUOTE ]

Here's one link..

http://forumserver.twoplustwo.com/showfl...rt=all&vc=1

There are more just search rakeback in subject or body..Make sure you change the date range...

straight6 · #7 03-17-2007, 08:16 PM

thank you!