Huge Pair 0 Posted September 11, 2005 Share Posted September 11, 2005 I have a little over $10,000 in my account on Full Tilt, I was just wondering what you have to do in regards to taxes. I would like to get around paying them but what are the rules when it comes to this issue. Thank you. Link to post Share on other sites
allinbluff35 0 Posted September 11, 2005 Share Posted September 11, 2005 http://www.amazon.com/exec/obidos/tg/detai...=books&n=507846 Link to post Share on other sites
Socko669 0 Posted September 11, 2005 Share Posted September 11, 2005 Easy. Get a neteller atm card and withdraw in increments of 500 or so. Hold on to the cash, and make smaller deposits to your bank account everyonce in awhile, always less than 500 bucks. You can also just leave it in neteller for as long as you deem necessary.Shred and or hide any documents that show your neteller/poker account info.Off shore companies like neteller and poker sites are pretty much unavailable to most if not all IRS inquiries. To be safe do the neteller atm withdrawal method and keep it in cash (put the cash somewhere safe and hidden)... do not, do not ever make a large cash deposit into a standard us bank account. Taxes shmaxes.Neteller/Online poker rooms are very convenient for tax evasion and money laundering. ohyeah. Link to post Share on other sites
Huge Pair 0 Posted September 11, 2005 Author Share Posted September 11, 2005 How do you get a Neteller ATM card? I just have a Neteller account where the money goes straight to my bank account. thanks Link to post Share on other sites
Socko669 0 Posted September 11, 2005 Share Posted September 11, 2005 Follow the link on the neteller home page after you sign in...it is free to receive and usually comes within a matter of days.There is obviously a little juice on transfers (like 2 bucks per), but you will more than make up for that by not paying taxes on some or all of your winnings.Oh Yeah. Link to post Share on other sites
heyalex40 0 Posted September 11, 2005 Share Posted September 11, 2005 Dude.... Just think of all the people on wellfare that you are screwing by not paying your taxes. Link to post Share on other sites
fourfour44 0 Posted September 11, 2005 Share Posted September 11, 2005 Link to post Share on other sites
calumet 0 Posted September 11, 2005 Share Posted September 11, 2005 Is to admit being a poker professional....declare your income from winning and deduct your legitimate business expenses...internet accessnew computertrip to Vegaslosses at the tableslosses on the golf course (all sucsessful poker players give it back on the tees)sunglasses100's of poker booksTrip to Camp HelmuthI'm sure you get the idea...unless you really like the idea of playing cards at Levenworth! Link to post Share on other sites
Bijjy 0 Posted September 11, 2005 Share Posted September 11, 2005 Dude.... Just think of all the people on wellfare that you are screwing by not paying your taxes.I will sleep better tonight knowing that this is one of the side effects of my not paying taxes. Thank you. Link to post Share on other sites
Guest Posted September 11, 2005 Share Posted September 11, 2005 Dude.... Just think of all the people on wellfare that you are screwing by not paying your taxes.I will sleep better tonight knowing that this is one of the side effects of my not paying taxes. Thank you.If I don't get my government cheese next month, I'm gonna so pissed at you guys!! Link to post Share on other sites
Spademan 94 Posted September 11, 2005 Share Posted September 11, 2005 Dude.... Just think of all the people on wellfare that you are screwing by not paying your taxes.I will sleep better tonight knowing that this is one of the side effects of my not paying taxes. Thank you.Haha, same here.The majority of welfare users are white.Who cares about starving white children.Hahah, stupid kids parents, hahah. Link to post Share on other sites
Socko669 0 Posted September 11, 2005 Share Posted September 11, 2005 Dude.... Just think of all the people on wellfare that you are screwing by not paying your taxes.whaaa. whaaa. whaaa. whaaa. whaaa. Link to post Share on other sites
PAYforUSC 0 Posted September 11, 2005 Share Posted September 11, 2005 Easy. Get a neteller atm card and withdraw in increments of 500 or so. Hold on to the cash, and make smaller deposits to your bank account everyonce in awhile, always less than 500 bucks. You can also just leave it in neteller for as long as you deem necessary.Shred and or hide any documents that show your neteller/poker account info.Off shore companies like neteller and poker sites are pretty much unavailable to most if not all IRS inquiries. To be safe do the neteller atm withdrawal method and keep it in cash (put the cash somewhere safe and hidden)... do not, do not ever make a large cash deposit into a standard us bank account. Taxes shmaxes.Neteller/Online poker rooms are very convenient for tax evasion and money laundering. ohyeah. Link to post Share on other sites
Swift_Psycho 1 Posted September 11, 2005 Share Posted September 11, 2005 Easy. Get a neteller atm card and withdraw in increments of 500 or so. Hold on to the cash, and make smaller deposits to your bank account everyonce in awhile, always less than 500 bucks. You can also just leave it in neteller for as long as you deem necessary.Shred and or hide any documents that show your neteller/poker account info.Off shore companies like neteller and poker sites are pretty much unavailable to most if not all IRS inquiries. To be safe do the neteller atm withdrawal method and keep it in cash (put the cash somewhere safe and hidden)... do not, do not ever make a large cash deposit into a standard us bank account. Taxes shmaxes.Neteller/Online poker rooms are very convenient for tax evasion and money laundering. ohyeah.Why is getting a neteller atm card better than just having a regular neteller account and depositing money into your bank account that way? As long as you make transfers in small deposits, what's the difference? Link to post Share on other sites
Erik67 0 Posted September 12, 2005 Share Posted September 12, 2005 Alot of good responses. If you have a full time job, don't get 1099'd on poker winnings and pay taxes on those you are stupid beyond belief. Link to post Share on other sites
Socko669 0 Posted September 12, 2005 Share Posted September 12, 2005 Easy. Get a neteller atm card and withdraw in increments of 500 or so. Hold on to the cash, and make smaller deposits to your bank account everyonce in awhile, always less than 500 bucks. You can also just leave it in neteller for as long as you deem necessary.Shred and or hide any documents that show your neteller/poker account info.Off shore companies like neteller and poker sites are pretty much unavailable to most if not all IRS inquiries. To be safe do the neteller atm withdrawal method and keep it in cash (put the cash somewhere safe and hidden)... do not, do not ever make a large cash deposit into a standard us bank account. Taxes shmaxes.Neteller/Online poker rooms are very convenient for tax evasion and money laundering. ohyeah.Why is getting a neteller atm card better than just having a regular neteller account and depositing money into your bank account that way? As long as you make transfers in small deposits, what's the difference?Offshore company bro...extremely hard for the us govt to access unless we are talking major criminal network involvement...the neteller atm card allows you to withdraw directly from neteller in cash, leaving no paper trail...you can then make cash deposits into your bank account...which, again, leaves no paper trail. If you transfer from neteller directly to your bank account...paper trail...paper trail is no good. In the face of an audit or such the IRS can look at your banking records and say, hey, why didnt you claim all these small deposits (which total a big amount when added up)? Then they bend you over and ream you...which never would have happened had you just gotten the free atm card from neteller and left no trail other than small cash deposits, which are stupid easy to avoid paying taxes on.I mean, cmon dude, its pretty obvious... Link to post Share on other sites
adidas freak 0 Posted September 12, 2005 Share Posted September 12, 2005 I like the neteller ATM idea but why deposit the money into a bank. That does leave a paper trail of deposits. Why not just use the cash to buy money orders to pay your bills with. This way you can just keep the legit money in the bank??? Link to post Share on other sites
PoppinFresh 0 Posted September 12, 2005 Share Posted September 12, 2005 I honestly can't understand why anyone doesn't pay their taxes without a really good reason(I want the extra cash isn't a good reason). If you ever get caught you'll be in a world of hurt.Please don't listen to the people telling you to fuck with the IRS. Link to post Share on other sites
Socko669 0 Posted September 12, 2005 Share Posted September 12, 2005 I like the neteller ATM idea but why deposit the money into a bank. That does leave a paper trail of deposits. Why not just use the cash to buy money orders to pay your bills with. This way you can just keep the legit money in the bank???Yep. That works too, but money orders do leave a paper trail, in that the IRS or other such inquirying minds can look at the history of certain bills you have paid and as a result see that you have paid a number of bills by money order....which in turn shows them that you spent/had money that was not accounted for in your filings. That is why the best thing to do is keep it in cash and use that money for cash purchases only.As for the guy who said why not pay taxes...because it is +EV if you do it the right way. You can do it legally by creating tax shelters and liberal use of write offs.As for getting caught...its extremely unlikely if you use the neteller atm cash out method.Oh yeah.Taxes schmaxes. Link to post Share on other sites
Patricnz 0 Posted September 12, 2005 Share Posted September 12, 2005 I like the neteller ATM idea but why deposit the money into a bank. Â That does leave a paper trail of deposits. Â Why not just use the cash to buy money orders to pay your bills with. Â This way you can just keep the legit money in the bank???Yep. That works too, but money orders do leave a paper trail, in that the IRS or other such inquirying minds can look at the history of certain bills you have paid and as a result see that you have paid a number of bills by money order....which in turn shows them that you spent/had money that was not accounted for in your filings. That is why the best thing to do is keep it in cash and use that money for cash purchases only.As for the guy who said why not pay taxes...because it is +EV if you do it the right way. You can do it legally by creating tax shelters and liberal use of write offs.As for getting caught...its extremely unlikely if you use the neteller atm cash out method.Oh yeah.Taxes schmaxes.this guy is onto it and is now my new favourite poster Link to post Share on other sites
jmoooooo 0 Posted September 12, 2005 Share Posted September 12, 2005 you guys have it rough south of the border, here in canada, money won out of country isnt subject to federal taxation. and since no poker sites reside within canada, winnings are 8) tax free - of course, the same goes for a winning trip to vegas...... Link to post Share on other sites
Filesharer 0 Posted September 12, 2005 Share Posted September 12, 2005 As far as I know, in Ireland we don't even have to pay on winnings in land-based casinos. It's the same in Britain I think.nyall-right Link to post Share on other sites
mk 11 Posted September 12, 2005 Share Posted September 12, 2005 the neteller atm card allows you to withdraw directly from neteller in cash, leaving no paper trail...you can then make cash deposits into your bank account...which, again, leaves no paper trail. If you transfer from neteller directly to your bank account...paper trail...paper trail is no good. In the face of an audit or such the IRS can look at your banking records and say, hey, why didnt you claim all these small deposits (which total a big amount when added up)? Then they bend you over and ream you...which never would have happened had you just gotten the free atm card from neteller and left no trail other than small cash deposits, which are stupid easy to avoid paying taxes on.Um, no. The IRS will not look at cash deposits any differently than they would look at neteller direct deposits. It is unclaimed income either way. And I'm not sure what you mean by cash deposits "leaving no paper trail". They show up on your bank statements, which if subpoenaed...well, you're entering a world of pain. Link to post Share on other sites
majorleag 0 Posted September 12, 2005 Share Posted September 12, 2005 The best comment on the topic is:NO COMMENT Link to post Share on other sites
agsa6079 0 Posted September 12, 2005 Share Posted September 12, 2005 The only good advice here so far is to pay your taxes.The Neteller cash out scheme is so juvenile, it reeks of Nick Jr. Do you think financial crimes investigators are retarded?If you make enough to be worried about paying taxes, then keep detailed records. No paper trail is a legitimate gambler's worst nightmare. The government has a simple rule, prove it or lose it. If you are being taxed on gambling winnings, then losses and expenses are deductable, but must be documented. If you have a real reason to question if you owe taxes on winnings, then seek the advice of a professional tax attorney or CPA.I am constantly amazed at the number of seemingly smart people here who scream about the legitimacy of poker, then pass on advice how to commit tax evasion against the government. That's a real smooth way to get respect. If you're making $10,000 (which most people here are not), you can afford to consult with a CPA. Do it, it will save you thousands in the long run. Generally speaking, figure on 28-30% of your gross profit going to your taxes, unless you can offset some of this by your itemeized deductions. Link to post Share on other sites
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