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possible solution

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possible solution - Sun Apr 17, 2011, 05:57 AM
(#1)
XXChris123's Avatar
Since: Jul 2010
Posts: 1,512
BronzeStar
negotiate in court to have USA players
tax their deposits
and tax their withdrawals
automatically by poker stars
to give to usa
5% in and 5% when going out
 
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Sun Apr 17, 2011, 06:05 AM
(#2)
spike8998's Avatar
Since: Apr 2010
Posts: 853
Why tax it going in
It's already be earned and taxed
Maybe tax it on the way out
We used to have this stupid law in the UK on horse race betting
as the slip would say bet amount and a tax box next to it
But if you didn't pay the tax in you was taxed on the winnings
Both cases were either 10% of bet placed or 10% of monies won

Last edited by spike8998; Sun Apr 17, 2011 at 06:10 AM..
 
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Sun Apr 17, 2011, 12:52 PM
(#3)
LIL Kicky's Avatar
Since: Jun 2010
Posts: 32
I think it should be as simple as USA players can play you just have to report a win/loss at the end of each year?
 
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Sun Apr 17, 2011, 01:08 PM
(#4)
XXChris123's Avatar
Since: Jul 2010
Posts: 1,512
BronzeStar
no one would report
usa just wants a piece
 
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Sun Apr 17, 2011, 01:12 PM
(#5)
XXChris123's Avatar
Since: Jul 2010
Posts: 1,512
BronzeStar
Think about it
USA the only country in entire world not allowed to play poker
land of the free ?
over taxed
over ruled
laws strangling people and business's
land of the free ... not anymore
 
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Sun Apr 17, 2011, 01:14 PM
(#6)
XXChris123's Avatar
Since: Jul 2010
Posts: 1,512
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one prosecutor can decide what millions are allowed
thats not democracy either
 
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Sun Apr 17, 2011, 01:17 PM
(#7)
Flabo's Avatar
Since: Jul 2010
Posts: 17
BronzeStar
Massachusetts taxes any winnings over $600 for one bet. an example: So if you win 500 on a scratch ticket you don't pay taxes, if you win 1000(500 on one and 500 on another you don't pay taxes, if you win 1000 on one ticket you have to pay taxes. so why would I or should I have to report a withdrawal of $1000 if I won 3 tourneys, one for 500, one for 400, and one for 100? According to the law in my state I don't have to report any on it but your idea would make me have to pay 5%, It just can't be a flat 5% across the board on withdrawals and deposits, that makes no sense and each state is different. Another thing is that if I have a summer home in Florida and the taxes are cheaper there(just saying for the point of my argument don't really know) why not withdraw to my Florida address? It is gonna take a while before they figure it out.

Last edited by Flabo; Sun Apr 17, 2011 at 01:19 PM..
 
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Sun Apr 17, 2011, 01:19 PM
(#8)
XXChris123's Avatar
Since: Jul 2010
Posts: 1,512
BronzeStar
the feds want it , later states will want their share
 
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Sun Apr 17, 2011, 02:04 PM
(#9)
IroncladMerc's Avatar
Since: Jun 2010
Posts: 581
Yeah they see the billions in rake generated, and they want a cut of that. They also want a cut of player's winnings too, to tax you on the money that you already paid tax on (withholding taxes). In fact the USA is so heavily taxing its citizens, it's ironic, as the reason the US became a country was to get rid of the over taxation of the British empire. Now they have become just as bad or even worse than the tyrants they sought freedom from.
 
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Sun Apr 17, 2011, 02:08 PM
(#10)
TrumpinJoe's Avatar
Since: Jun 2010
Posts: 4,557
Quote:
Originally Posted by XXChris123 View Post
negotiate in court to have USA players
tax their deposits
and tax their withdrawals
automatically by poker stars
to give to usa
5% in and 5% when going out
IMO, this is only feasible if this "tax" is treated as a withholding toward income tax obligations (just as if you made a large cash in a B&M casino). Then you could deduct gambling losses up to the amount of your winnings so you only actually pay tax on any net winnings.
 

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