Two Plus Two Publishing LLC Two Plus Two Publishing LLC
 

Go Back   Two Plus Two Poker Forums > >

Notices

Poker Legislation & PPA Discussion hosted by Rich Muny Discussions of various poker-related laws and steps players can take to push for better laws.

Reply
 
Thread Tools Display Modes
Old 03-26-2017, 10:32 PM   #2751
ItsOnlyChips
veteran
 
ItsOnlyChips's Avatar
 
Join Date: Nov 2003
Location: Alberta, Canada @Its0nlyChips
Posts: 2,149
Re: Canadian Online Poker Tax Thread

^ interesting, thx for the info
ItsOnlyChips is offline   Reply With Quote
Old 03-28-2017, 11:23 AM   #2752
Mossberg
Pooh-Bah
 
Mossberg's Avatar
 
Join Date: Dec 2005
Posts: 5,810
Re: Canadian Online Poker Tax Thread

I'm guessing the AI would determine that almost every poker-related case is non-taxable (based on the real world data it would be basing its predictions on). In any case, it's very cool to see you at the forefront of innovation in your industry, Mr. Alarie. Good luck with the venture, and thanks for keeping us updated.
Mossberg is offline   Reply With Quote
Old 03-28-2017, 08:03 PM   #2753
TaxGuru
journeyman
 
Join Date: Nov 2008
Location: Canada
Posts: 216
Re: Canadian Online Poker Tax Thread

Quote:
Originally Posted by Mossberg View Post
I'm guessing the AI would determine that almost every poker-related case is non-taxable (based on the real world data it would be basing its predictions on). In any case, it's very cool to see you at the forefront of innovation in your industry, Mr. Alarie. Good luck with the venture, and thanks for keeping us updated.
Thanks for the kind words. In back testing real cases, the AI correctly predicts the vast majority correctly, including where taxpayers are found to be taxable.

The new functionality is expected to go live on March 31.

If anyone's accountant or lawyer is interested, give them this link and they can request a trial account:

http://gettaxnetpro.com/tax-foresight
TaxGuru is offline   Reply With Quote
Old 04-26-2017, 03:36 AM   #2754
DJSpinThat
centurion
 
Join Date: Nov 2014
Posts: 184
Re: Canadian Online Poker Tax Thread

Hi. Im hoping for some insight,

1. Does every canadian online poker player who grinds full time declare an income of zero and claim that they were unemployed year after year?

2. Say they are successful and has a ton of withdrawals to their bank account and total in the range of high 5-6 figures every year, they still declare zero? (won't that cause problems if you're asked how you pay for your rent/car/food etc.)

3. or instead of zero do you claim the minimum amount ($11,474) even though you clearly have way more deposits to your bank account?

4. Say you win mid six figures to a million from a spin and go or a tournament and you withdrawal that to your bank account. For that year you still declare an amount of zero or.. ? (because its considered a windfall)

Thank you.
DJSpinThat is offline   Reply With Quote

Reply
      

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Forum Jump


All times are GMT -4. The time now is 04:30 PM.


Powered by vBulletin®
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
Search Engine Optimisation provided by DragonByte SEO v2.0.33 (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.
Copyright ę 2008-2010, Two Plus Two Interactive
 
 
Poker Players - Streaming Live Online