good work man keep it up

where are you getting 48bb/100? I'm winning at 4.6bb/100 + 40% rakeback. 1k hands/hour

Any American state for a Canadian citizen

most of my winnings are live/in tournaments.

from live, I just recently moved to online. I joined the upswing poker lab and studied it like crazy. Took a lot of convincing for my mum to leave me alone about poker XD. I've been playing for a few hours, but seriously for about 3-4 months now.

It sounds like you are now ready to take shots at 1/3 on the weekend when the game are soft.

My bad. Forgot you were playing zoom.

Seriously? You have 30% take from every tourney cash out that goes to the individual states? Maybe you have my question confused with the difference between federal tax and state tax.

BTW, there are no states in the Union that have an income tax rate that comes close to 20% let alone 30% (California's 13.3% is the highest? )

TBF, a typical college degree costs $56,000 and 4 years of hard studying to likely make 40-60K your first half decade. Investing in poker thru a loan is as novel an idea as any of the 80% of college degrees that are useless **** guaranteeing either no job or under 40K a year. Assuming one puts in vast amounts of training, studying and maybe 1/3 of the time actually playing it has every opportunity to work. I believe Alex (myth of poker talent) in that if you put in the time, you will see the results......the key to any of this, with training costing thousands is money. That said, school loan is laughably out. These days they do not give out many open lines of credit.....cannot say you need 5,000 for books like you could 10 years ago.

As a Canadian citizen when you go to claim your prize money they automatically take 30% off your winnings

You stated you had state tax taken out. My point is....it is not a state tax but a federal tax.

Why can't you file as a professional player? Do you earn a large portion of your yearly income from poker? If so, you can file UNITED STATES federal return and maybe recoup some of the taxes that have been taken out (by law). Maybe if all the income you earn in the USA is gambling income...you may have this avenue.

I am not a CPA and I am only suggesting that this may be a possible solution. You really should consult a tax professional about using the laws to your favor.

This is just for Canadian's playing in USA. It's a different story if I was an American. They just take 30% and that's the last you see of that money. A bunch of friends went down for WSOP and came back early/just played cash there because of that reason alone. Even if we win high hand/bad beat bonuses they take 30% and pay you out the 70% and you never see that 30% again.

I assume you make more than $1000 in winnings playing poker in the USA. True?

Are you required to fill out a 1040 USA tax return every year on the income that you earned in the USA?

I'm not sure, I haven't been to states to play poker, this is just what I've been told by other Canadian poker players that went down to play the WSOP

Maybe has something to do with NAFTA. I'm not sure.