Some questions about Taxes

[Dr.Gonzo]

Amazing how many think tax authorities rely purely on a paper trail.
If they have cause to investigate you it opens up everything to them.
The onus may well be on you to demonstrate how you maintain your lifestyle if you are concealing income.

Amazing how I already said it I don't care because it doesn't effect me. Not from the states. But if I was I wouldn't pay this shit anyway. Go see an accountant. I'm sure they have a scam to get around this bullshit paying the least amount possible.

[Thremp]

Amazing how many think tax authorities rely purely on a paper trail. If they have cause to investigate you it opens up everything to them. The onus may well be on you to demonstrate how you maintain your lifestyle if you are concealing income.

Yes. This is getting what I like to call "Super Pwned". For a further understanding of this see Mr. Bigg's definitive work "Trial Time". Here is a pertinent snippet: "They know about the down payments on my third house. They know about diamond in my littler sister's mouth. They know about the Benz and the black Pathfinder. They know about the vacation trip I took to China... Saying how the fk you bought this shit? How the fk you don't work but drive different cars, we got you on the interstate in a Jaguar."

What is taxes? LOL, if you are w/d less than $2000 a week you don't have to claim taxes. What you should do is make a deal with your book that you want those MU to go to your friends names. Spread the wealth and not have it trailed all back to you. Give your friend some kickback on the side for the hassle of receiving the money.

No. This is true. And the second part is fraud. Would I claim that a withdrawal from a friend got overlooked in an accounting error? Who knows. I def wouldn't organize a massive withdrawal scheme to launder a large sum of money.

Yeah make as many people as possible accomplices to tax fraud as you can! Never mind that the bookie at least has his licence/livelihood on the line helping you out!

Well said.

Amazing how I already said it I don't care because it doesn't effect me. Not from the states. But if I was I wouldn't pay this shit anyway. Go see an accountant. I'm sure they have a scam to get around this bullshit paying the least amount possible.

So you don't know... But are sure you'd commit a crime.

[Fishhead]

What is taxes? LOL, if you are w/d less than $2000 a week you don't have to claim taxes. What you should do is make a deal with your book that you want those MU to go to your friends names. Spread the wealth and not have it trailed all back to you. Give your friend some kickback on the side for the hassle of receiving the money.

If your making any significant amount of money, you better worry about serving jail time.

My guess is you don't profit much from this business.

[FishFace5]

Sorry OP, I don't wanna hijack your thread but I think I'm in a similar position to the 1 u r in. I have a full-time job on the books and a real estate license on the side. I don't play any games with those incomes. I don't even get crazy with write-offs. The income I report is in line with my lifestyle.
On the other hand, I enjoy gambling, always have, but I'm not on a professional level. I think the most I ever withdrew in any one given year was approx 30k from various books and poker sites. Always small checks, nothing over 2,500 and no more than once a month from any given site. I've been doing this for like 5 years though. I have no records and never reported a dollar. Am i about to get my door kicked in?? what should I do?? Fellas if I gotta give up 30% on my winnings this gambling thing is no longer worth it. I'm starting to hate my country?? How can a professional gambler survive in the US. I know most of you are probably a whole lot sharper than me but who the heck can afford to give up 30%???

[Thremp]

You think you're effectively going to hide an extra 100k?

[Skaramouche]

well thats the whole thing. if you are making 100k plus in gambling winnings and dont report it, eventually the IRS is gonna become real interested in you and start an investigation.
I am sure most of the people on here dont have that kind of gambling income. however if you do get audited for some other reason and they see suspicious activity on your bank accounts, you are likely to get in trouble.
so its definately best to avoid cashing checks. person to person cash transactions under 10k are much safer.
i mostly lose these days though so i have nothing to report anyway

SKA

[Thremp]

lol

p2p is even shadier. If you're making enough to hide, you're making enough to get caught IMO.

[sportsbetwin]

Maybe you big winners should go down Costa Rica, make a cash withdrawal in person, and have the holiday of a lifetime - year after year.
Of course don't forget to declare it to the IRS the next year - along with the stolen robes!

[Timmay]

I'm kind of in the same boat, I'm trying to make a profit online and I wanted to know about the rules before January. I heard that it's illegal to have online books in the U.S. and that is why they have them offshore. People using there services wasn't illegal, that's what I thought and now they're trying to make it hard for the better to get withdrawals because there in disagreement to it because of the lack of a controlled tax on it. I don't know lol, but all I know is that all these pro poker players live in the U.S. and advertise and play a lot online, so I guess checking with a pro that plays online would be a good person to talk too.