Tax Advice

[Mr J]

I know that some states have different laws. I was hoping to get a little insight, I live in Wisconsin. I know the law regarding slots is 10K, then you pay taxes. Not that I care, I hate slots. My concern is the table games, mainly roulette. If there is a law (even in Nevada) how can anything be proven? Lets say the law is also 10K.

Is that per day? Who is to say the difference between net and gross? What if my gross is 10K but my net is under that? Is the burden of proof on me OR is the burden of proof on the IRS? I'm not asking this question in terms of being 'tricky', how to slowly cash out.

I know all that stuff already. I'm only curious in terms of how the heck am I suppose to *SHOW* my net is under the 10K while my gross was over it. Also, lets say you were a moron and DID go to one cashier cage with over 10K of chips. Will they not give you the cash until IRS papers are filled out, SS number etc. This is alot on one thread, sorry.



Ken

[xman1970]

Hey there ken  

Didn't Spike used to go on about a "&$&*($% form" ?? Sorry mate I cannot for the life of me remember the name of it  

For some reason I thought it was a form that people HAD to sign when cashing out more than $4000  in the USA ??

Re the slots tax, isn't the tax different for "table games " ?? as in they KNOW you have won $10,000 at the slots  but with table games you could of started with $9,000 to win $10,000 ??

I'm hoping Nathan Detroit / Herb will answer for you here, as I'm sure they will have a better idea....

that's all I know, more questions than answers sorry......

[Steve]

The tax authorities are unlawful institutions in the first place. Many things to point out, and I now know of a few people who dont pay tax anymore. For one thing, the tax office is a registered corporation - they are subject to the same corporate laws and are not exempt. And you never signed a contract (legal or otherwise) making it clear you have ANY obligation to them. Most of what you pay actually goes to the banks, to pay interest on government loans. It doesnt go to roads, community services etc..

It will not be long before the fraud is fully exposed. Do I still pay tax? Yes, for now. But I'll be making that change soon, and helping to expose it.

[xman1970]

I thought Oz casino winnings were tax free Steve ??

[pins]

if i could claim for losing  i would be rich.

[Steve]

I thought Oz casino winnings were tax free Steve ??

They are, to a certain level, IF the winnings are not part of a business like mine. But I do a lot more than just roulette. Most of my income has nothing to do with it.

[Mr J]

"For some reason I thought it was a form that people HAD to sign when cashing out more than $4000  in the USA? >>> 4K? I never filled anything out for 4K. The 'protocol' ....... (I posted this in the past) cage would fill out a paper regarding my description...eye color, hair color, weight, height etc. Its good for 48 hours in case I get pulled over by the police. I didn't sign anything.

Ken

[Mike]

The tax authorities are unlawful institutions in the first place.

I agree. It's nothing but robbery at the point of a gun. The worst injustice is something we have in the UK called "death duties", the government takes 40% of a deceased person's estate above a certain threshold, and this in spite of the fact that the person has already paid taxes throughout their life. 

[Steve]

Mike that is astounding. It is legal crime. A few years back the local governments here wanted to introduce a FART TAX, if you have livestock such as cattle. No it is not a joke - well it probably is a joke to the people who tried to push the tax upon us, because they know they get away with murder.. because of complacency. We live in complete tyranny, but over the next few years it will be getting worse. There goes the saying "the only way for evil men to triumph is for good men to do nothing."

That law you highlighted would not be lawful because you cannot pay tax twice - it is unlawful. But the courts support a corrupt system. Anyway large corporations exploit this loophole by paying tax offshore, even just $1. They they cant be charged tax again by local institutions. It's a legal loophole, but risky if not done right. Although paying tax once is fraud too. But it's not like you can argue with them when you are dead. I guess that's the point. I could go on forever about this stuff really, and soon I'll be focusing solely on exposing banking and government fraud. I'm closing two of my companies solely so I have time for it. If anyone is curious, the forums will sure still be here as roulette is a personal interest.

[Nathan Detroit]

Ken

Did you at anytime  last year received a 1099 WG  form at any casino? If NO then  don`t lose  any  sleep over it  

Another option would be to establish casino CREDIT  . This way there is never any question about the amount won or lost .

You can always request a win and loss statement from the casino which is  only available if you  do have  a casino card.

Nathan Detroit
HAPPY  and worry free WINNINGS!!!

[schoenpoetser]

In Holland you can play in the legal casinos taxfree.It is not allowed to play at internet. Do you play at internet and you have a profit you pay 52 % over the brute amount. Our best international pokerplayers are all living in Monaco or Malta.

[Mr J]

"Did you at anytime  last year received a 1099 WG  form at any casino?" >>> Nope, which is good! I'm also kind of asking for a reason for 2011. Soon (not sure when) I'll be playing one of my methods (4 numbers) with black chips only. As you know, thats $3,500 a pop (gross) and they can add up fast! If it starts to get high per visit (knock on wood), it could get a little tricky cashing out.

Ken

[Nathan Detroit]

Ken,

Then I would  consider one of the options  relying upon good   record keeping  by  the casino for one of the options  i have mentioned .

I know  of one  gentleman who played at the  tables  (  Ibelieve it was not roulette ) he made sure that his wife  played low key  on the  slot machines  so not to win  any jackpot for 1099 WG.

Hopefully  the casino will not play any " games " against you. The  " roulette expert" at JP`s  board lost 2.3 million Euros within a  few months  playing approx  2, 000 per spin spread over 17 numbers.


Nathan Detroit
HAPPY WINNINGS!!!

[cheese]

As you know, thats $3,500 a pop (gross) and they can add up fast! If it starts to get high per visit (knock on wood), it could get a little tricky cashing out.

Ken

You really think thats a good idea, Ken? The IRS has agents in some casinos and if you win large amounts consistently, they will go out of their way to find out who you are. Just follow you to your car and get your plate, how hard is that. They can get you if you have a lifestyle far larger than your claimed income. You would be especially at risk because you only ever play in one casino. Always remember, greed is the downfall of every gambler, from losing it all to getting caught for winning too much. Don't be greedy.

[cheese]

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