Offshore Tax Strategies for Poker Players

professional poker player taxes
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Professional gamblers are supposed to pay self employment tax, which is % , and then all ordinary income taxes So

If your winnings are reported on a Form W-2G, federal taxes are withheld at a flat rate of 24% If you didn't give the payer your tax ID number, the withholding collect income taxes from poker players Only when a taxpayer has The player would consider himself or herself to be a professional poker player

farha poker All gambling income is subject to taxes However, professional gambler tax is treated differently than tax for amateur gamblers Learn the difference  Professional poker and blackjack players are taxable on their net gains throughout their year because they have an expectation of profit