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May 11th, 2013 at 8:18:52 PM
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I'm looking for some general advice on how to handle this topic.
Lets use Bovada as an example. Lets say your doing well getting multiple max (3K) checks per month.
You're proabably not going to be getting involved with bank transfers and such because of the larger amounts, unless someone can convince me that this wouldn't be an issue. You're using this money to pay bills, debts etc and some into savings. All the profits are being used to make ends meet and you're not at a point where any account continues to grow to an amount that would be concerning to anyone who may be looking.
Any advice is appreciated.
Lets use Bovada as an example. Lets say your doing well getting multiple max (3K) checks per month.
You're proabably not going to be getting involved with bank transfers and such because of the larger amounts, unless someone can convince me that this wouldn't be an issue. You're using this money to pay bills, debts etc and some into savings. All the profits are being used to make ends meet and you're not at a point where any account continues to grow to an amount that would be concerning to anyone who may be looking.
Any advice is appreciated.
There's always an edge, are you sharp enough to find it?
May 11th, 2013 at 8:29:37 PM
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What exactly is your question?
I doubt that Bovada reports your aggregate net win to anyone. And the size of your withdrawals doesn't have anything to do with taxability.
But, of course, you are legally obligated to report your wins to the IRS yourself.
I doubt that Bovada reports your aggregate net win to anyone. And the size of your withdrawals doesn't have anything to do with taxability.
But, of course, you are legally obligated to report your wins to the IRS yourself.
"So as the clock ticked and the day passed, opportunity met preparation, and luck happened." - Maurice Clarett
May 12th, 2013 at 9:45:56 PM
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I understand that Bovada wont be reporting anything in terms of personal wins.
I guess I'm asking if anyone has a consistent gambling income and how they handle their accounts. If they don't want to share anything publicly, feel free to private message me.
I guess I'm asking if anyone has a consistent gambling income and how they handle their accounts. If they don't want to share anything publicly, feel free to private message me.
There's always an edge, are you sharp enough to find it?