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taxin question

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  1. Pboy987 Pboy987 is offline

    Christiansburg, VA
    United States

    Posts: 169
    Joined: May 07

    Aug 30th, 2009 (8/30/2009 4:07pm)

    A bud of mine told me that if you pay for school with your poker money then its a Tax write off like he said up to 25k is only taxable for 1500 any truth to this? Or is he just avoiding paying his poker winnings
     
  2. dtools22 dtools22 is offline

    Worcester, MA
    United States

    Posts: 2,579
    Joined: Apr 07

    Aug 30th, 2009 (8/30/2009 6:43pm) in reply to Pboy987

    Don't mind those two, they clearly haven't read it if they think sending you there does any good with your specific question.

    I have heard of companies doing this for employees but I have no way of knowing for sure if this works for poker players. It sounds plausible but I would recommend talking to a professional about it.
  3. Denty Denty is offline

    Silver Spring, MD
    United States

    Posts: 1,148
    Joined: Jan 06

    Aug 30th, 2009 (8/30/2009 6:44pm) in reply to Pboy987

    sounds like its only applicable if you're not a dependent of someone else so that ends the discussion for me, not sure about your situation tho. found some good stuff here:

    http://answers.yahoo.com/question/in...0033059AAdHhSu
     
  4. bef99hwk bef99hwk is offline

    Manhattan, KS
    United States

    Posts: 7,332
    Joined: Apr 07

    Aug 30th, 2009 (8/30/2009 7:55pm) in reply to Denty

     
    Originally Posted by Denty View Post

    sounds like its only applicable if you're not a dependent of someone else so that ends the discussion for me, not sure about your situation tho. found some good stuff here:

    http://answers.yahoo.com/question/in...0033059AAdHhSu

    This is retarded if so because all schools consider you a dependent until like age 24, so if tax laws say one thing and schools say another that is absolutely retarded...but then again the USA IS retarded so I dunno.
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