Quote:
Originally Posted by mement_mori
How is it pointless to directly buyin, but not pointless if you satelite into them?
Taxrules for livetournies are pretty sweet for me (as long as the events are in Europe) and I have no idea how it works in the US. But don't you pay the same % no matter if you win it live or online?
i should of clarified my statements a bit. US taxes suck with live winnings if ur not full time poker player cuz it puts u in a higher tax bracket and u end up profiting maybe like 30% of what you actually won. im not tooting my own horn but i won roughly $80k live in 2008 and claimed I loss $20k in BI. I should have seen maybe 40% of the $60k but instead i owed the IRS $22k, $20k federal and $2k state. now $30k should of went to the IRS but after all the expenses i should have maybe, and im prob overestimating, owed them like $5k, not $22k.