1. 01-07-22 11:03 AM #71
    Reload
    Winning Aint Easy
    Reload's Avatar SBR PRO
    Join Date: 03-23-08
    Posts: 12,184
    Betpoints: 14864

    Paypal has been OK to deposit money into US books but when I've gotten withdrawals, they end up sending tax forms. Even when I'm just withdrawing my own money back to me without a profit. Would recommend just using echeck or bank transfer for withdrawals now.
    Nomination(s):
    This post was nominated 1 time . To view the nominated thread please click here. People who nominated: KVB
    Reply With Quote Reply With Quote 1
  2. 01-07-22 11:49 AM #72
    KVB
    It's not what they bring...
    KVB's Avatar SBR PRO
    Join Date: 05-29-14
    Posts: 74,849
    Betpoints: 7576

    Quote Originally Posted by milwaukee mike View Post
    that's why i got out of the business! all the simplification that was done is now reversed, with stimulus payments, advance child credit payments, etc etc


    Reply With Quote Reply With Quote
  3. 01-07-22 11:53 AM #73
    JIBBBY
    JIBBBY's Avatar SBR PRO
    Join Date: 12-10-09
    Posts: 83,078
    Betpoints: 11886

    Just keep it under $600 with every income transaction you make to your banking institutions you tax evading thieves!! ..

    Seems like a simple solution to this.
    Reply With Quote Reply With Quote
  4. 01-07-22 12:00 PM #74
    jjgold
    jjgold's Avatar Become A Pro!
    Join Date: 07-20-05
    Posts: 388,190
    Betpoints: 10

    lol so much mis information here
    Reply With Quote Reply With Quote
  5. 01-07-22 12:05 PM #75
    KVB
    It's not what they bring...
    KVB's Avatar SBR PRO
    Join Date: 05-29-14
    Posts: 74,849
    Betpoints: 7576

    Quote Originally Posted by jjgold View Post
    lol so much mis information here
    I say things got twisted but truthfully we were having two different discussions here, one clarifying the law and to how it might apply to bettors in the US and offshore.

    Kind of three different things.

    Will they apply these thresholds to individuals? Have they in the past?

    It’s a changing landscape Gold, what was once good info changes. It can be hard to grasp it all and see how it applies to us.
    Reply With Quote Reply With Quote
  6. 01-07-22 02:17 PM #76
    Headsterx
    Headsterx's Avatar SBR PRO
    Join Date: 12-03-16
    Posts: 18,405
    Betpoints: 2146

    Damn, there goes my slush funds.
    Reply With Quote Reply With Quote
  7. 01-07-22 02:27 PM #77
    KVB
    It's not what they bring...
    KVB's Avatar SBR PRO
    Join Date: 05-29-14
    Posts: 74,849
    Betpoints: 7576

    Quote Originally Posted by Headsterx View Post
    Damn, there goes my slush funds.
    The boys at Fade and Get PadeTM are just going to have to find another way to move all those massive profits.

    Reply With Quote Reply With Quote
  8. 01-07-22 07:40 PM #78
    DontTailMe
    DontTailMe's Avatar Become A Pro!
    Join Date: 03-24-19
    Posts: 2,897
    Betpoints: 6810

    Quote Originally Posted by JIBBBY View Post
    Just keep it under $600 with every income transaction you make to your banking institutions you tax evading thieves!! ..

    Seems like a simple solution to this.
    It has already been explained several times in this thread, that this does not solve the problem. The $600 threshold is cumulative for the entire year across all transactions, not per each transaction.
    Reply With Quote Reply With Quote
  9. 01-08-22 07:26 AM #79
    seaborneq
    It's time to collect
    seaborneq's Avatar Become A Pro!
    Join Date: 09-08-06
    Posts: 22,556
    Betpoints: 13422

    Quote Originally Posted by DontTailMe View Post
    It has already been explained several times in this thread, that this does not solve the problem. The $600 threshold is cumulative for the entire year across all transactions, not per each transaction.
    Some don’t read or think for comprehension, just for a response.
    Reply With Quote Reply With Quote
  10. 01-08-22 11:36 AM #80
    JIBBBY
    JIBBBY's Avatar SBR PRO
    Join Date: 12-10-09
    Posts: 83,078
    Betpoints: 11886

    ^^ Well I don't give a rats ass and yes I didn't read every post in this thread.

    My transactions are in the $5000 range almost always and will remain that way with bookie payouts and coinbase transfers and I will just report it all as "other income" on my tax returns. Keep it all honest and legit and the IRS can't sting you, bottom line.

    I comprehend that..
    Reply With Quote Reply With Quote
  11. 01-08-22 02:55 PM #81
    Koldazzice
    Koldazzice's Avatar SBR PRO
    Join Date: 11-08-11
    Posts: 2,392
    Betpoints: 4257

    thats silly shhhh I am not reporting any of that. I pay and get paid by a local thru cash app. And I own the etf for ethe and gbtc in my roth ira so when I doubled and took profit I don't have to claim as its in my ira. But no way would I claim anything via paypal / venmo etc. Come and get it. So much for only taxing the rich...... moron democrats
    Reply With Quote Reply With Quote
  12. 01-08-22 03:03 PM #82
    Mugsy777
    Update your status
    Mugsy777's Avatar Become A Pro!
    Join Date: 08-26-20
    Posts: 418
    Betpoints: 6494

    you are right son about moron Democrats , but a local WILL BURY you young man , God Bless and good luck
    Reply With Quote Reply With Quote
First 123
Top
« Previous Thread | Players Talk | Next Thread »