by emmasdad » Mon Apr 03, 2006 3:38 pm
As promised, I have been looking into the taxation of poker income for me and my fellow degenerates. Xas, have you been making estimated quarterly payments? Are you filing as a professional? Have you talked to Kenny about his experiences?
The CPA nightmare described in Wintermute's journal sounds like it is pretty common. I was at a $110 SNG at the WPT in Reno and the players at the table were having a frank discussion about taxes. There was a pro at the table that had gone to a CPA like wintermute's, and had an even worse experience.
There is a . Read that. I like Kuso's idea of paying more than you think you owe and filing for an automatic extension. Then see a CPA that knows what they are talking about. For the love of all that is holy do not go to a mall tax refund shop.
[edited for addition of link to ITH forum]
Last edited by
emmasdad on Mon Apr 03, 2006 8:48 pm, edited 1 time in total.