hey guys, sorry if there is a thread out there already for this. it is my first time heading down to Vegas specifically to play some WSOP events so I am looking for the best way to approach the following (I am canadian):

-some clarification on the 30% tax rule and is it possible to get all $ back, or what is the avg. price to get the $ back? how long would it take, and how should this work if i was to sell action?

-any recommendations for lodging (i wouldnt have a car). what is the most efficient place (just need a basic place reasonably close to RIO)

-any other advice you could provide would be greatly appreciated!

tyvm and best of luck

Gold Coast is across the street from Rio. Orleans is a bit nicer and has more variety of food options, but have to take ~20 min. shuttle to Gold Coast. Another option would be the cheaper CP properties on strip (Ballys, Flamingo, Harrahs, Linq) and then take taxi/Uber.

Since it's your first trip to Vegas, you should understand how deceptive the walking distances are on the strip, due to the sheer scale of the structures. It's sorta like "eyes are bigger than mouth," except it's "eyes are bigger than feet." In some cases you may think "oh, that's only two casinos over" or w/e, without realizing that you'll actually walk the better part of a mile or more each way from start to finish. You can easily walk 2-3+ miles per day without even trying, so it's good to budget time, energy, and perhaps money for whichever mode of transportation you choose.

Great thanks very much i will check those places out for sure!

Another question i was going to ask was: what is the best way to manage funds for buyins? Im going to be playing tourneys 500-10k in buy ins...what is the best method with currency exchange and paying for buy ins?

shuttle runs every 30 mins to and from Rio from both Ballys and Harrahs so dont necessarily have to use taxi/uber if you stay on the strip. theres also an extended stay right down the street from the Rio on Valley View where you can stay if you want to have a kitchen.

Agree with Bally's

Ive gone 4 times, Ballys 3 times and Harrahs once.

I can't recommend Ballys enough! One of the cheaper hotels, but the rooms are not disgusting like some other hotels. Its literally right in the middle of the strip, so you can go walk anywhere. Also the free shuttle to the Rio runs every 30 min, so you save $ from cabs!

thanks very much guys i appreciate the help im definitely gonna look into the above places

I stay at Downtown Grand near Freemont to get away from hustle and bustle of strip, but still many conveniences. Uber rides are minimal, just budget for it... can also save by ride sharing to event (Rio, PH, Wynn, Venetian, etc).

I cannot speak for Canadian taxes.

As far as getting funds to Vegas. You can wire funds to Rio, pay for tournaments in advance, etc. Or split it up: wire 1/3 funds to Rio, carry 10k with you, keep rest in your bank acct and withdraw as needed to give you options and reduce theft.

There are some other things that are not mentioned any where... this is poker and scammer heaven. Dont fall victim! Double check doors and windows of hotel room; dont give a "friend" combo to safe in room to get you funds; etc. You get the drift... most are on the uppity up, but there are still shady cats out there.

Dont let the atmosphere eat you up, and enjoy the moment. The sheer numbers of poker players in Rio can be overwhelming, wait until you have to pee on a short break. Lol. The table games, drinks, clubs, strippers, etc are there and lure many ppl off their A+ game. Everything in moderation is good plan. Additionally, with so much live poker over a short-ish period of time can be mentally and physically exhausting. Incorporate workouts (find a place that has at least a small gym with AC), breaks (mental refresh, chillin at pool helps), get rest (after you wrap up day1 and have a beer or two, day2 shows up soooo quickly).

I know you didnt ask for that last piece of advice, but I lived in the city of sin for over 10yrs, and Ive seen alot... these are basic tips that are often overlooked when caught up in the action.

Cheers and GL

The 30% tax rule is based on the fact that the US taxes gambling winnings and Canada doesn't. There is no tax treaty between the US and Canada on gambling winnings so the US withholds 30% of gambling winnings above a certain threshold (I believe for poker if your net win in a tournament is over $5000 tax is withheld on your net winnings). The only way to get this tax back is to file a US non-resident tax return. You can do this yourself or hire a company to do it for you. Since the winnings are "income" you'll need to be able to claim expenses to offset some or all of your income in order to get a refund. The tax is not refundable on its own - you need to be able to offset your gambling winnings with losses and/or other deductible expenses. If you hire a company to file for the tax refund I think they generally charge 25% or 30% of the refund. The company will prepare a US tax return for you (and they will obtain a US ITIN for you if you don't already have one). Just remember that you will have to sign the tax return and you will be responsible for what is on the return. You would be liable for any misrepresentations that are made on the return and you will have to deal with the IRS, the same as any other person who files a US tax return, should they decide to audit your return. Probably not a high probability, but still a risk nonetheless.

Timing wise, you would have to wait until January of the year following your win to file a US tax return and the wait for the refund once the return is filed could be anywhere from several weeks to several months (I've filed returns in January of the year following "taxable" wins for my wife a few times. Once the refund did not come until July, another time it came within 4 weeks.)

I don't know how it works if you sell a piece of your action, but I think there are ways to account for this. Someone with experience would have to comment on this.

thanks very much some great advice there i appreciate that and will keep it in mind!

thanks very much for that information i appreciate it!