W/D has nothing to do with whether or not you made money.When your job pays you and it goes direct deposit, if you never touch it do you have to pay taxes still? Of course.Playing poker professionally is the same as any other self employed profession. You have your earnings, your expenses, you file taxes the same as everyone else. You are the same as a 1099 salesman.Not to be too rude, but this has been like the 3000th time this has been asked on here, I am not sure why this is so hard to grasp.
0
T P / M M
Started by Acid_Knight, Aug 18 2008 11:48 AM
105 replies to this topic
#61
El Guapo
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Posted 18 August 2008 - 06:19 PM
#62
Snamuh
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Posted 18 August 2008 - 06:21 PM
NoSup4U, on Monday, August 18th, 2008, 9:17 PM, said:
I agree on getting CPA advice. Per mine, if I play a significant amount while traveling, the trip is a business expense. Your mileage may vary based on CPA I guess :)You can and should vile based on whatever you're doing. What would you do the first year if you didn't file as a professional gambler, just not file? The govt is happy to get your money however they can imo ;)Mark
Snamuh raises to $76.75, and is all in
BigKamp: yyou lose
BigKamp has 15 seconds left to act
BigKamp calls $24.50, and is all in
Seat 1: BigKamp (small blind) mucked [Ad Ac] - a full house, Aces full of Kings
Seat 2: Snamuh (big blind) showed [Kd Kh] and won ($102.50) with four of a kind, Kings
Snamuh: you lose
BigKamp: yyou lose
BigKamp has 15 seconds left to act
BigKamp calls $24.50, and is all in
Seat 1: BigKamp (small blind) mucked [Ad Ac] - a full house, Aces full of Kings
Seat 2: Snamuh (big blind) showed [Kd Kh] and won ($102.50) with four of a kind, Kings
Snamuh: you lose
#64
Gallo
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Posted 18 August 2008 - 06:28 PM
SpeedKills, on Monday, August 18th, 2008, 9:04 PM, said:
gl Acidnot to derail the thread, but what about the occasional player that works a full time job and maybe makes an extra 300-1k a month?Im assuming you should file under extra income, but what if you dont make withdrawls and its still in the account?
QUOTE (no not baxter @ Monday, February 9th, 2009, 11:03 AM) <{POST_SNAPBACK}>
ya srsly why not just make a 2 hour dinner break so ppl can go to outback and get a fkn bloomin onion
For rakeback at:
FTP, BoDog, UB, Absolute, Cake
2008 Neg-O TOC NL Champion
#65
chgocubs99
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Posted 18 August 2008 - 06:30 PM
GLGLGLGLGLGLGLGL, this will work out great for you. Keep us posted on how you're doing.
QUOTE (dscoot @ Friday, April 10th, 2009, 3:20 AM) <{POST_SNAPBACK}>
im still not sold that many of these people that get these big online scores are winners when it comes to the live game, which, by the way, is real poker.
#66
cubsfan44
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Posted 18 August 2008 - 06:41 PM
GL Matt. Make me proud
What if the 'HOKEY POKEY' really IS what it's ALL about?
#67
Flushgarden
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Posted 18 August 2008 - 06:45 PM
My accountant advised me to keep all the money I make from poker in a safety deposit box and not report it. I dunno if I should take his advice. lolGL Acid...not that you need it since you're such an aggromonkey you dont actually need cards to run good. lol
-Danny
#68
bull62
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^I've done this before^
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Posted 18 August 2008 - 07:05 PM
bhaas, on Monday, August 18th, 2008, 7:51 PM, said:
Are you liable for income tax? Is there a law that compels anyone to file andself assess a fraudulent tax liability?Call, or write like I did to the IRS and ask them to show you or prove to youthat your liable and send it certified return receipt.You'll never get an answer, but you'll have something to take to court if theIRS tries to act above the law and steal your money.IRS=Hitman for the Fed Reserve Bank.Fed Reserve Bank=Privately owned bank. Not owned by the USA.Hmmmmmmmm. Something is fishy here.Brad
Monthly freerolls and a whole lot more at RaketheRake, please refer to member RTR22135
QUOTE (RDog @ Tuesday, January 29th, 2008, 7:43 PM) <{POST_SNAPBACK}>
He didn't get his 27/6 by mistake, he got it because he likes to use the call button.
QUOTE (chgocubs99 @ Saturday, December 27th, 2008, 8:54 PM) <{POST_SNAPBACK}>
After pissing though it's like 33% wash, 33% rinse, and 33% nothing. Sometimes I'll wash like three times in a row to balance my range though.
QUOTE
There is no such thing as failure, just useful feedback about what to do next.
#69
Acid Knight
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Posted 18 August 2008 - 07:12 PM
Thanks everyone for all your help and advice today.Actually, after getting some dinner, I have had a change of heart (for right now), and I think I am going to go talk with my boss tomorrow about maybe staying on for a couple more months. Having this new house payment is obviously going to be a stress that I haven't had before, and I want to make sure I can handle it first before making the big leap.Thanks again, and I'm sure I will make another one of these in a few months. 
QUOTE
I just want to add that there is a fine line between the following that people tend to cross over way too easily, including myself.
1) Spewing chips all over the place while worrying about keeping your green line above your blue
2) Playing Acid's style
1) Spewing chips all over the place while worrying about keeping your green line above your blue
2) Playing Acid's style
Bit of a Downer. 10.30Let's mix it up a little
#70
bhaas
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Posted 18 August 2008 - 07:20 PM
bull62, on Monday, August 18th, 2008, 8:05 PM, said:
Ask Wesley Snipes about this.
#71
mase_gotsem
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forum bad guy
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Posted 18 August 2008 - 07:35 PM
TravisG, on Monday, August 18th, 2008, 8:24 PM, said:
wat?way to own yourself dude.
jeff(support): unfortunetly, confedrate,it looks like thats right. You were waiting to post your blind, and didnt get in. Im very sorry"
#72
chgocubs99
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Posted 18 August 2008 - 07:53 PM
Cool Acid, sure you'll be fine either way. Last thing you want to do is rush into it.
QUOTE (dscoot @ Friday, April 10th, 2009, 3:20 AM) <{POST_SNAPBACK}>
im still not sold that many of these people that get these big online scores are winners when it comes to the live game, which, by the way, is real poker.
#73
FCP Bob
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Posted 18 August 2008 - 07:56 PM
Acid Knight, on Monday, August 18th, 2008, 11:12 PM, said:
Thanks everyone for all your help and advice today.Actually, after getting some dinner, I have had a change of heart (for right now), and I think I am going to go talk with my boss tomorrow about maybe staying on for a couple more months. Having this new house payment is obviously going to be a stress that I haven't had before, and I want to make sure I can handle it first before making the big leap.Thanks again, and I'm sure I will make another one of these in a few months.
Bob
info@fullcontactpoker.com
info@fullcontactpoker.com
#74
king1305
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Posted 18 August 2008 - 08:00 PM
Acid Knight, on Monday, August 18th, 2008, 11:12 PM, said:
Thanks everyone for all your help and advice today.Actually, after getting some dinner, I have had a change of heart (for right now), and I think I am going to go talk with my boss tomorrow about maybe staying on for a couple more months. Having this new house payment is obviously going to be a stress that I haven't had before, and I want to make sure I can handle it first before making the big leap.Thanks again, and I'm sure I will make another one of these in a few months.
#75
ahosang
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Trolling FCP like everyone else...
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Posted 18 August 2008 - 08:20 PM
Congrats Acid on making the correct decision to stay in the job for a while longer...
FCP is a trollfest. If ya can't beat 'em, join 'em!!!!
#76
RDog
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Posted 18 August 2008 - 08:23 PM
Acid Knight, on Monday, August 18th, 2008, 8:12 PM, said:
Thanks everyone for all your help and advice today.Actually, after getting some dinner, I have had a change of heart (for right now), and I think I am going to go talk with my boss tomorrow about maybe staying on for a couple more months. Having this new house payment is obviously going to be a stress that I haven't had before, and I want to make sure I can handle it first before making the big leap.Thanks again, and I'm sure I will make another one of these in a few months.
#77
RDog
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Posted 18 August 2008 - 08:25 PM
king1305, on Monday, August 18th, 2008, 9:00 PM, said:
YOU JUST GOT BLUFF CHECKMINRAISED AND FOLDED
#78
Acid_Knight
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Posted 18 August 2008 - 08:28 PM
Acid Knight, on Monday, August 18th, 2008, 8:12 PM, said:
Thanks everyone for all your help and advice today.Actually, after getting some dinner, I have had a change of heart (for right now), and I think I am going to go talk with my boss tomorrow about maybe staying on for a couple more months. Having this new house payment is obviously going to be a stress that I haven't had before, and I want to make sure I can handle it first before making the big leap.Thanks again, and I'm sure I will make another one of these in a few months.
#79
Acid_Knight
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Posted 18 August 2008 - 08:28 PM
RDog, on Monday, August 18th, 2008, 9:23 PM, said:
OMG, this is the MOST awesome thing EVER!!!!!! Whoever this is, please out yourself in PM so I can send you money.
#80
chgocubs99
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Posted 18 August 2008 - 08:29 PM
LOL, woops
QUOTE (dscoot @ Friday, April 10th, 2009, 3:20 AM) <{POST_SNAPBACK}>
im still not sold that many of these people that get these big online scores are winners when it comes to the live game, which, by the way, is real poker.
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