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11-08-2005, 04:45 PM
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Poker Professional
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Join Date: May 2005
Location: Toronto, Canada
Posts: 1,615
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Are winnings taxed?
just withdrew money in the form of a check from ub.. i live in canada, so i was just wondering if the checks are taxed or not?
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11-08-2005, 04:55 PM
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Administrator
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Join Date: May 2004
Location: BC, Canada
Posts: 4,126
Limits Played: $5-$10 NL
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No they are not. My accountant at H&R block assured me of this. However, the only thing I am not sure is if you do it for a living; then it may be taxed as your income. But there is not a seperate gambling tax on it  It is taxed in the US however.
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11-08-2005, 05:42 PM
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I donk off Wota's $$$
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Join Date: Dec 2004
Posts: 5,362
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Canada WILL expect taxes if you are a professional, otherwise do what you want with it.
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11-08-2005, 06:21 PM
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Poker Expert
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Join Date: May 2004
Location: Berkeley/Kansas
Posts: 1,386
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pffft, by Alex reasoning they aren't taxed in the US either  |
11-08-2005, 06:48 PM
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Poker Hustler
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Join Date: Feb 2005
Location: Savannah, GA
Posts: 1,184
Limits Played: $0.50-$1 NL
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Quote:
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Originally Posted by NoManner
pffft, by Alex reasoning they aren't taxed in the US either |
...you're forgetting stevo too
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Bean181818: some guy came up just grabbed my hand and starting massaging it, since it wasn't you, i told him to fuck off
xcrunman02: yeah only I can do that, i don't need some gook trying to get with my life partner
Bean181818: i've been faithful
xcrunman02: me too
Bean181818: peck tried to get all this but i told him this was all taken, all of it!
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11-08-2005, 07:27 PM
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I donk off Wota's $$$
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Join Date: Dec 2004
Posts: 5,362
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Steve-O pays taxes.
Maybe being busted for tax evasion is the reason for Alex's disappearance????
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11-08-2005, 07:41 PM
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Check Raiser
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Join Date: Jul 2005
Posts: 639
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just a question i read in newsweek that ALL online gambling is illegal if you live in the states but it just isnt prosecuted because they have better things to worry about ( terrorism) so would paying taxes on illegal income be legal or a good idea ? <- not sure if that made sense
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11-08-2005, 07:43 PM
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I donk off Wota's $$$
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Join Date: Dec 2004
Posts: 5,362
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Online gambling is a very grey area in the states right now. I don't claim them as online winnings, just gambling winnings and I spend enough time in a casino that it isn't a problem
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11-09-2005, 06:55 AM
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Chaser
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Join Date: Oct 2005
Posts: 111
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In the U.S., even if you earn income illegally, you're supposed to pay taxes on it.
A common tactic by law enforcement is to charge someone with tax evasion if you can't nail them on criminal charges.
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11-09-2005, 02:14 PM
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Check Raiser
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Join Date: Jul 2005
Posts: 639
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yeah i guess your right - thats what they pulled on Al capone
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