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#1
07-25-06, 02:27 PM
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Live game losses are a bitch.
Keep good records. |
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#2
07-25-06, 03:35 PM
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Bingo.
 Although this brings up an interesting point. Your online profits and losses are technically trackable. But what happens with live games? I would guess that The IRS would not count non-legal home games or underground clubs for reported losses. The ATM idea is smart. Here's another thought. Some casinos are trying to introduce those little monitors in place of real cards right? Basically an online game at the casino. Govt bans online poker. If you want to play poker online or live, it must be at a casino. You must log-in, swipe players card or whatever and presto, they now have records of every penny you win/lose. (excluding homegames/clubs of course). Kind of scary thought isn't it? I'm not saying this WILL Happen, just that it's not that far off of an idea.
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3rd Grade Reading Level! Last edited by ChipFish; 07-25-06 at 03:43 PM. |
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#3
07-25-06, 03:55 PM
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The ATM is always a good idea. You'll see me there at least a few times while in Vegas this week.
As for live play, the IRS accepts your written records (your poker log) as backup for your reported wins/losses. As long as you keep good records, they have no choice but to accept them. |
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#5
07-25-06, 05:43 PM
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Not against random strangers, but if that game is against people on the forum I am sure the IRS would accept it becaue it's been well documented he gets his ass kicked in that circumstance.
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If aces didn't get cracked they would be writing books about me! |
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#6
07-25-06, 05:56 PM
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You must have missed the last few Heads Up tourneys we had. That curse has long since been broken.
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#7
07-25-06, 05:58 PM
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Your right, I missed it. Here's a thought, get heads up at the WSOP final table and prove me wrong.
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If aces didn't get cracked they would be writing books about me! |
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#8
07-25-06, 05:56 PM
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Actually, the IRS has the right to "audit" your log, so to speak. That's why a true log has details of the games... not only where you were playing, but the names of some of the other players (good luck with this). If you can have someone verify, "Yes, I saw him take an ass kicking at the craps tables after that big tourney cash of his," that can go a long way.
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#9
07-25-06, 07:11 PM
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So you decide to visit Lou in Philidelphia or whereever he's from.
He takes you to this brand new underground poker club that just opened that night. Coincidently, it's run by the Philly Mafia. You play in the $25/50 No limit game. You lose $10k on the night. At what point do you take down names and phone numbers? The players won't give you their names, because they sure as heck aren't claiming the win. If you report the club that you lost it at, the club is shut down, and you become very unpopular very quickly in Philidelphia. So it just comes down to the fact that you can "TELL" the IRS that you lost it, but they won't believe you right? If you are on the side that they will believe you because Lou said it happened, What's to stop you from winning $10k in that same game, but have Lou back up your story that you lost $10k? Just a conspiracy theory, but Isn't that what the USA is all about? Taxes?.
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3rd Grade Reading Level! |
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#10
07-25-06, 09:37 PM
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There is nothing to stop you from cheating on your taxes.... other than the fear of what happens to you if you get caught cheating on your taxes.
Well, that and moral obligation, etc... |
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