Quote:
Originally Posted by SoUnreal
Since you refer to us as US players, you probably don't live in the US and might not know that the income tax alone takes almost 35% of yearly wages. On top of which, the US government won't allow poker players to play on all sites or help poker players whose bankroll were stolen/confiscated via hackings or account locks for what could be unjust reasons. Taxing tournament winnings makes them -ev for almost all players. That's why pros here consider moving to Canada, Australia, etc.
I live in Michigan, and I have been a tax preparer in the past. I think you missed my point.
Cheaters want to cheat, and logic doesn't convince them otherwise. In the case of this thread, someone cheated/stole/defrauded, and not a lot of minds are going to be changed about it being wrong.
I have told US players in various threads that ALL gambling winnings are taxable income, and they come up with ten reasons why they shouldn't pay taxes: income tax is illegal, they can't trace my cash winnings, I don't make enough (might be true only if it's under 5K or so and they have no other income), I haven't cashed out, etc., etc.
I declare every cent, even if it's $50 cash for a music gig. That's what the tax law says I must do.
Last edited by Poker Clif; 03-06-2008 at 03:10 AM.
Reason: spelling