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

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Old 04-27-2017, 12:23 AM   #1
Gramps
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Effect of Trump Tax Proposals on US professionals

Would post in the existing sticky thread, but it's locked.

Anyone think there's possible changes on the horizon affecting US professionals? (i.e. territorial system mention for expat grinders or potential for business income rates via pass-throughs, etc.)
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Old 05-01-2017, 09:19 PM   #2
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Re: Effect of Trump Tax Proposals on US professionals

I imagine it will have a much bigger effect on amateurs. Professionals should be able to continue to deduct tournament fees and cash buy-ins as business expenses. It seems like those deductions will go away for non-professionals unless gambling somehow becomes a separate category like capital gains.
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Old 05-02-2017, 08:26 PM   #3
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Re: Effect of Trump Tax Proposals on US professionals

If the 15% tax rate for pass-through entities (Partnerships, Corps, S-Corps, LLCs, etc.) is enacted into law, that could have a huge effect on professionals who structure themselves/business in such a way.

*If* *could*
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Old 05-03-2017, 04:05 PM   #4
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Re: Effect of Trump Tax Proposals on US professionals

Yes, obviously if a business's taxes are significantly lowered, that would have a big effect. However, for amateurs, it is the deductions side of the equation that makes a big difference.
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