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poker winnings and taxes

Started by Balloon guy, May 02 2005 11:48 AM

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14 replies to this topic

#1 Balloon guy

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Posted 02 May 2005 - 11:48 AM

When I win the WSOP 2005, I'm going to need to know what to do with all that money.Does incorporating as a Nevada Corp allow me to hire myself to play poker, and then pay myself dividends which are only taxed at 16% this year?Side question: Do all the big cash game players report all winnings won in a casino where they bought chips?Just wondering

#2 KTW

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Posted 02 May 2005 - 12:09 PM

1) No idea. Not a Nevada resident.2)Obviously not.

#3 Lord Ben

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Posted 02 May 2005 - 12:13 PM

Sure, but then the corporation would have to pay taxes.

#4 donk4life

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Posted 23 July 2008 - 09:11 AM

Balloon Guy= Joe Hachem?

#5 Balloon guy

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Posted 23 July 2008 - 09:16 AM

Yea..nice


Let's make fun of the fat guy.


I should go back and change all my old posts.


No that would be....sad


Besides this idea has merit, I just haven't figured out the details yet.
I use my cigar smoke as idiot repellent


"The whole modern world has divided itself into Conservatives and Progressives. The business of Progressives is to go on making mistakes. The business of the Conservatives is to prevent the mistakes from being corrected." G.K. Chesterson 1900

View Posttimwakefield, on 18 April 2012 - 10:38 AM, said:

Things are only rights because the government decides they should be rights.

#6 Franchise632

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Posted 23 July 2008 - 09:17 AM

QUOTE (donk4life @ Wednesday, July 23rd, 2008, 12:11 PM) <{POST_SNAPBACK}>
Balloon Guy= Joe Hachem?


I thought he looked familar...he hid the accent well
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#7 donk4life

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Posted 23 July 2008 - 09:23 AM

QUOTE (Balloon guy @ Wednesday, July 23rd, 2008, 12:16 PM) <{POST_SNAPBACK}>
Yea..nice
Let's make fun of the fat guy.
I should go back and change all my old posts.
No that would be....sad
Besides this idea has merit, I just haven't figured out the details yet.


So, by changing all your posts, you would in turn disrupt that general scheme of things in the forum, causing threads to make no sense, and confuse the hell out of members. Thus, causing a disturbance in the force.

Balloon guy= Darth Vader?

#8 Balloon guy

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Posted 23 July 2008 - 09:25 AM

QUOTE (donk4life @ Wednesday, July 23rd, 2008, 10:23 AM) <{POST_SNAPBACK}>
So, by changing all your posts, you would in turn disrupt that general scheme of things in the forum, causing threads to make no sense, and confuse the hell out of members. Thus, causing a disturbance in the force.

Balloon guy= Darth Vader?


Strangle ONE guy with a thought and the DV label sticks.

I'm sick of it
I use my cigar smoke as idiot repellent


"The whole modern world has divided itself into Conservatives and Progressives. The business of Progressives is to go on making mistakes. The business of the Conservatives is to prevent the mistakes from being corrected." G.K. Chesterson 1900

View Posttimwakefield, on 18 April 2012 - 10:38 AM, said:

Things are only rights because the government decides they should be rights.

#9 Franchise632

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Posted 23 July 2008 - 09:28 AM

QUOTE (Balloon guy @ Wednesday, July 23rd, 2008, 12:25 PM) <{POST_SNAPBACK}>
Strangle ONE guy with a thought and the DV label sticks.

I'm sick of it



in all fairness you were wearing a black cape at the time.....

im just sayin
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#10 donk4life

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Posted 23 July 2008 - 09:29 AM

There's only one reason you'd want to change all the posts you've ever made,

and that'd be for world domination.

#11 HighwayStar

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Posted 23 July 2008 - 09:31 AM

QUOTE (donk4life @ Wednesday, July 23rd, 2008, 6:11 PM) <{POST_SNAPBACK}>
Balloon Guy= Joe Hachem?


Nice prediction!
.

#12 Balloon guy

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Posted 23 July 2008 - 09:31 AM

QUOTE (Franchise632 @ Wednesday, July 23rd, 2008, 10:28 AM) <{POST_SNAPBACK}>
in all fairness you were wearing a black cape at the time.....

im just sayin


It was TWO WEEKS after the Matrix came out.

EVERYONE had a black trenchcoat and I didn't own one!

What could I do really?
I use my cigar smoke as idiot repellent


"The whole modern world has divided itself into Conservatives and Progressives. The business of Progressives is to go on making mistakes. The business of the Conservatives is to prevent the mistakes from being corrected." G.K. Chesterson 1900

View Posttimwakefield, on 18 April 2012 - 10:38 AM, said:

Things are only rights because the government decides they should be rights.

#13 Suited_Up

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Posted 23 July 2008 - 10:44 AM

QUOTE (Balloon guy @ Wednesday, July 23rd, 2008, 12:31 PM) <{POST_SNAPBACK}>
It was TWO WEEKS after the Matrix came out.

EVERYONE had a black trenchcoat and I didn't own one!

What could I do really?


Get a tight black leather outfit and play Trinity like the rest of us!


-Kurt

#14 Franchise632

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Posted 23 July 2008 - 02:46 PM

QUOTE (Suited_Up @ Wednesday, July 23rd, 2008, 1:44 PM) <{POST_SNAPBACK}>
Get a tight black leather outfit and play Trinity like the rest of us!




Thank you for ruining every single Trinity fantasy I have ever had... so sick
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#15 empythree

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Posted 23 July 2008 - 02:57 PM

QUOTE (Balloon guy @ Monday, May 2nd, 2005, 2:48 PM) <{POST_SNAPBACK}>
taxed at 16% this year?


The question is.. Can you pull money from your self-directed Roth IRA to send your Investment (yourself) to the wsop and then win and keep the money tax free when you start to collect?.... hmmm



hah.. just noticed 2005
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