I'd like to know if any of you guys have opened any offshore banking accounts to keep your winnings from betting (I live in the states). I've coughed up enough $$$ on my income tax (and betting on the Celtics/Nuggets) and I'll be damned if I get slammed again by the Great one, Obama. I have about 3 checks I've yet to deposit into my bank from withdrawing from my sportsbook, totaling about $9,000 but I don't want to raise any red flags (I may just be paranoid). Any insight you guys have into this matter is appreciated.
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I wouldn't hold onto those checks for too long depending what book they're coming from. You may get a bounced one with the way some books are operating. Cash them asap!Comment -
why are you holding them ??Comment -
1. I don't want to leave a paper trail by going through a US bank
2. I don't want to pay taxes on them should the IRS come knocking on my doorComment -
I googled IRS and gambling a few months back. They were talking about having to claim taxes on total profit for the year, not on every win. Good luck on anyone proving that you're up at the end of the year... Your best bet is to open a European account in England. Germany and Luxembourg have very solid banking systems also. On par or better than the states. Gambling is legal over here. Have them send you your debit card, and handle your account online. The debit cards can be used worldwide. Cash out at ATM's or just buy cool shit with your winnings. Oh yeah, in England, they direct deposit your winnings to your bank in 2-5 working days FOR FREE! The only downside is that you might be charged 1-3% for foreign transactions. If you have any more questions, hit me up. I've got a lil' experience on this subject...Comment -
Don't disrespect Gretzky by giving his nickname around to politicians.
On a side, should talk to people educated on this matter outside the web.Comment
