Where to go to file taxes?

So... I am thinking about going down the street to H n R block tell them I won this much from poker, file my tax. Is this how its done? any tips would or tricks on the issue would be cool.

Don't claim poker. Lie to the Government!

On March 17 2010 03:39 XoXthajmanXoX wrote: Don't claim poker. Lie to the Government!

well. i want to buy a nice house/car eventually in the future and I need a source for my income.

Taxation: how the sheep are shorn.

Probably best if you can find someone more experienced in poker tax I'd think. Most of the ppl at HnR block probably dont' have any experience in dealing w/ poker player taxes

definitely don't go to H&R, research accountants based in las vegas to start your search, there are lots of good ones

I know in Aus H&R Block basically just specialise in personal returns and their accountants generally aren't qualified CAs or CPAs, but if your tax is simple H&R Block should be fine if you can't do it yourself.

On March 17 2010 04:20 Rekrul wrote: definitely don't go to H&R, research accountants based in las vegas to start your search, there are lots of good ones

Dan it. i wish i lived in vegas.

due to things like the internet, your accountant can be based in LV while you are based in American Samoa.

cool. any one want to refer a good cpa friend that they had a good experience with as a poker player? via pm or posting here etc.

Good question, I've been pondering this and wonder what the other people that live off poker do with taxes. I too want to eventually start paying taxes but i know if you report the earnings as "poker" earnings you're going to get boned reallly hard.

sigh uncle sam takes a bigger piece if you're a degen ;(

On March 17 2010 03:35 JohnnyBologna wrote: So... I am thinking about going down the street to H n R block tell them I won this much from poker, file my tax. Is this how its done? any tips would or tricks on the issue would be cool.

I've done HnR Block the last few years mainly due to being a procrastinator, its just 2 blocks from my apt. The employees don't really know much, you basically tell them how much you've made, and answer a couple questions about yourself and 20-30 min later you're done. I feel a little guilty forking over a few hundred to them for something that can seemingly easily be done on my own, but at the same time I've tried navigating through turbo tax before and its a bitch.

If you're filing as a pro ask a lot of questions about what u can write off, but don't file as a pro unless you have no other occupation (in which case ur legally obligated to).

What about claiming gambling earnings online through Turbotax or TaxAct? They always ask me that when I file, seems easy enough. I mean the only reason to file is if you are worried you will eventually be audited.

live abroad, save 40k a year

ps if u PM i can give u my tax person's contact who deals with a lot of poker players

You don't have to report VPPs. Don't worry about it. 8)

People actually pay poker Taxes?

Thank god I live in the civilised part of the world

On March 17 2010 21:27 JohnnyBologna wrote: Show nested quote + On March 17 2010 04:20 Rekrul wrote: definitely don't go to H&R, research accountants based in las vegas to start your search, there are lots of good ones Dan it. i wish i lived in vegas.

There's this new phenomena called the internet where you don't necessarily have to physically be some where to be provided services. Look into it.

http://www.google.com/search?q=internet

On March 18 2010 06:44 Steal City wrote: live abroad, save 40k a year ps if u PM i can give u my tax person's contact who deals with a lot of poker players

so what's the best way to avoid paying taxes on poker earnings. Cash-out via check and have it cashed at one of those shady check-cashing places? One of my friend's friends has a friend who wanted to know.

You don't have to report VPP's? Where did you get that from? You have to report all winnings, including vpp bonuses

lol at income tax

what's the chance of getting caught anyway? one of my closest friend doesn't pay tax and he's been cashing out over 500k/yr for last 3yrs. I'm about to just say fuck it. i paid well over 200k in tax so far and i dont want to do this shit anymore. seems like so much ppl are getting away

Yeah but I think if you get caught it's like gg life.

how does the government not notice someone cashing out 500k a year?

anyway if anyone wants information on it, 2p2 has a pretty detailed list for it that should probably help...

http://forumserver.twoplustwo.com/57/...orting-gambling-income-2007-a-437114/

if that doesn't help enough, ask on the poker legislation forum and i'm sure someone will be able to help you or point you to the right direciton.

i just contacted an account for gambling. Estimated rate was minimum $500 to $1,000 to file a tax? Are you guys getting butt sexed too?

Cause no matter the weather, niggas be needin' chedda

Nah you won't be gg life, it is like a corp crime, so they do not punish you in the ass, just hit you with a large fine and demand instant payment basically. The thing is, even if you missreport 10 years later they can still come and pwn you, unlike canada which is 4 years

On March 17 2010 23:36 NMcNasty wrote: Show nested quote + On March 17 2010 03:35 JohnnyBologna wrote: So... I am thinking about going down the street to H n R block tell them I won this much from poker, file my tax. Is this how its done? any tips would or tricks on the issue would be cool. I've done HnR Block the last few years mainly due to being a procrastinator, its just 2 blocks from my apt. The employees don't really know much, you basically tell them how much you've made, and answer a couple questions about yourself and 20-30 min later you're done. I feel a little guilty forking over a few hundred to them for something that can seemingly easily be done on my own, but at the same time I've tried navigating through turbo tax before and its a bitch. If you're filing as a pro ask a lot of questions about what u can write off, but don't file as a pro unless you have no other occupation (in which case ur legally obligated to).

you forked over a few 100,000$ to the us government? You are evil.

enough is enough. How can it possibly be that the greater the economy gets the greater the government gets. Government has a strictly limited function, Why does its funding increase with the economy. The income tax is fucking unconstitutional. I dont give a shit even if they ratify and put it in the constitution cause politicians are thieves. We need the government, to protect us from foreign nations, So they don't take over this land and try to rule us. I doubt they will try to take more than 40% of your income. Fuck let a foreign government take us over theres got to be a higher chance they are more freedom minded than this, this is madness.
8% of all sales transaction, something like 25% of all income, goes to institutions who are funded involuntarily. Hows this not evil? They are stealing power out of the hands of people and concentrating it into these evil organizations. If the foundation of the organization is evil the whole goddamn thing is evil.

FLESH OF MY FLESH

BLOOD OF MY BLOOD

Citizens often want government to solve problems, despite its dismal track record. Such a viewpoint represents the triumph of hope over wisdom and fails to take into account that it is incentives, not intentions, that determine results.

Wealth can only be created by production. Government cannot produce wealth. Its capacity is only to dispose of it with fiscal policy and erode it with monetary policy--which it does relentlessly.

The American government was constructed by our founders to protect individual rights, not destroy them. We were to be a voluntary society, not a compulsory one. The greatness of America resides in its capacity for freedom.

Citizens should love their country, but never trust their government. Political power always comes at the expense of individual liberty. As a result, each of us should be keenly aware that the Constitution is our friend and that most politicians are not.

yeah i think income tax is bullshit too. mostly goes to the overpaid salaries of politicians.

politicians are not making their pockets green from their salaries brother...

On March 19 2010 03:22 AndrewSong wrote: what's the chance of getting caught anyway? one of my closest friend doesn't pay tax and he's been cashing out over 500k/yr for last 3yrs. I'm about to just say fuck it. i paid well over 200k in tax so far and i dont want to do this shit anymore. seems like so much ppl are getting away

ur friend is likely to get raped by the government unless hes being smart about it...

On March 19 2010 05:18 edzwoo wrote: Yeah but I think if you get caught it's like gg life.

but the government doesn't want to take away your earning power if you're acutally paying taxes so.. you will likely get hefty fines but they dont' really wanna put you in jail unless ur being pretty damn terrible, they just want that $

On March 19 2010 03:22 AndrewSong wrote: what's the chance of getting caught anyway?

the chances of getting audited in any given year is roughly 1%. there are many ways to reduce the chances of getting flagged for an IRS audit, just google it and if you stick to it, your chances of getting audited drop even furthe. you can't get caught if you don't get audited.

however, if you do get audited, the IRS will bend you over and fuck you hardcore. that is unless you are meticulous about not leaving any paper trails.

On March 19 2010 21:35 TenBagger wrote: Show nested quote + On March 19 2010 03:22 AndrewSong wrote: what's the chance of getting caught anyway? the chances of getting audited in any given year is roughly 1%. there are many ways to reduce the chances of getting flagged for an IRS audit, just google it and if you stick to it, your chances of getting audited drop even furthe. you can't get caught if you don't get audited. however, if you do get audited, the IRS will bend you over and fuck you hardcore. that is unless you are meticulous about not leaving any paper trails.

I will fucking take my money to 200/400 NL and go allin every hand and set all my paper on fire before i give the IRS anything greater than 10% of my annual income.
unless i already spent 50% my annual, then they can have 10% of what remains but if they want 20%, fuck that shit ill use my remaining money to rent a blimp and crash it into their building.

who cares, we make a ton of money off of a damn card game. Pay that rake you nits.

oh well taxes are retarded but ppl actually workin are payin way more i would say so i dont care about my rakeback =o

but yeah fuck all gypsies, niggas and turkeys taking my money :/

i know an EXTREMELY good accountant and attorney who specialize preparing returns for poker players, they are based in LA. pm if you want info

On March 20 2010 00:17 dogmeat wrote: oh well taxes are retarded but ppl actually workin are payin way more i would say so i dont care about my rakeback =o but yeah fuck all gypsies, niggas and turkeys taking my money :/

lol the turkeys are taking your money?

england ftw

On March 20 2010 08:32 Critterer wrote: england ftw

?