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SCC-Faust United States. Dec 03 2009 10:20. Posts 53 | | |
Srsly now, when do I claim taxes?
I've read so much bullshit on this subject and learnt nothing. I'm withdrawing $25 a week and haven't been paying taxes because it is such a meager amount.
However, I know when it comes to making money in other things than a job, once you exceed $600 in a year, you need to fill out a W-9 form. So how do you guys do it? What happens when I want to cash out over $600?
I asked my father just to see what he'd say and he is like "just pay taxes at the end of the year". Either way WTF someone guide me please this shits gay.
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Ket  United Kingdom. Dec 03 2009 10:33. Posts 8665 | | |
britannia rules the waves..... |
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iop Sweden. Dec 03 2009 10:43. Posts 4951 | | |
in sweden you have to pay 30% on every pot you play weather you win or lose (if the poker room is based outside of europe)
yeeeah sweden rules
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| Milkman lol i didnt spend half a thousand on a phone so i could play it cool and be all stealth | |
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longple Sweden. Dec 03 2009 10:47. Posts 4472 | | |
| | On December 03 2009 09:43 iop wrote:
in sweden you have to pay 30% on every pot you play weather you win or lose (if the poker room is based outside of europe)
yeeeah sweden rules
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ohhh thats scary :O
u sure? though it only was 30% of the cashouts
scary to play on stars ^^ |
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PoorUser United States. Dec 03 2009 11:12. Posts 7471 | | |
you need to pay if its more than 5 or 10k a year i forget which, i think its 5 |
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Critterer United Kingdom. Dec 03 2009 11:19. Posts 5337 | | |
| | On December 03 2009 09:33 Ket wrote:
britannia rules the waves..... |
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| LudaHid: dam.ned dam.ned dam.ned. LudaHid: dam.ned northwooden as..hole | |
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SugoGosu Korea (South). Dec 03 2009 11:37. Posts 1793 | | |
damnit, i dont wanna pay taxesssssss.
Bye bye 50 buy-ins T_T |
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| Say this outloud! Why was six afraid of seven?......Because Seven Eight Nine | Last edit: 03/12/2009 11:38 |
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SCC-Faust United States. Dec 03 2009 11:48. Posts 53 | | |
Is there links to clear documentation for USA players on this?
Eventually I might just go to H&R block because I failed Algebra for a reason. |
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youa re withdrawing so little money you seriously can't get burned in any meaningful way... don't worry about it lol |
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NewBornBaby United States. Dec 03 2009 12:53. Posts 413 | | |
A meaningful amount worth claiming is 10k+ min. Technically all income is reportable obviously but for such a meager amount I can't see the IRS breaking down doors for $600. If you really wanted to report it then you'd report your gross winnings and gross losses on a Schedule A of a 1040. Never NET the two. Meh.
-Aspiring 23 year old accountant 
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| One for tha money, Two for tha show. Clap yo hands, If you gotta bankroll | |
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LemOn[5thF] Czech Republic. Dec 03 2009 12:55. Posts 15163 | | |
people pay taxes on poker winnings somewhere? lol.
seems logical that you should get a deduction on losses
boo usa |
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LemOn[5thF] Czech Republic. Dec 03 2009 12:57. Posts 15163 | | |
| | On December 03 2009 09:33 Ket wrote:
britannia rules the waves..... |
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Fujikura United States. Dec 03 2009 13:17. Posts 1795 | | |
good to see you're doing good =D You're never on AIM anymore... |
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| aka SouL)Z(Isadie and SouL)P(Fujikura | |
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SCC-Faust United States. Dec 03 2009 16:12. Posts 53 | | |
| | On December 03 2009 12:17 Fujikura wrote:
good to see you're doing good =D You're never on AIM anymore... |
That is because I played Mabinogi for a while since I can't resist 12 year old girls.
I got a MSN because that is what they use. Maybe taxes should be the least of my worries. |
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Fujikura United States. Dec 03 2009 16:47. Posts 1795 | | |
PM me your msn, I never know what it is since it says something random.. or maybe you can get your head out of your ass and msg me =D |
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| aka SouL)Z(Isadie and SouL)P(Fujikura | |
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