Taxes >:(

Discussion in 'Beginner Zone' started by Norseman, Jun 17, 2012.

  1. Norseman, Jun 17, 2012

    Norseman

    Norseman Member

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    Kinda wishful thinking considering the most $ i have made at any casino game was $1200 from craps at Silver Legacy, Reno...
    but was wondering at what amount does the casino make you pay taxes? $5000 $10000 ? (california and nevada)
    Any tips for avoiding getting taxed ? For instance, assuming i will be taxed at $5000, what if i just go to cashier and turn in $4000 and come back later and cashout the other $1000 ? How closely are" they" watching once i color up at the taxation theshold ?
    Or do they basically escort you to the cashier once you color up and shake you down for taxes ? If the Or scenario is true, is there a grey area where i am better off staying in the game because the taxes will actually bring me below an amount that would require taxation ? Also how does your buy in amount factor in ? (buy in for $1000 , win $4000... do i get taxed even though $1000 was from buy in ?)
    Hopefully i will face this problem someday.

    Skol
     
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  2. The Midnight Skulker, Jun 17, 2012

    The Midnight Skulker

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