Tax tips

[Gambler1222 1]

Say you were to start doing a pay per head bookie website in a state where all online gambling is legal..... and it started out small but now you are on pace for 6 figure profit with 30 different players.. what to do about taxes? Everything is through Venmo and cash app

[therealwintersoldier 6,632]

2 minutes ago, Gambler1222 said:

Say you were to start doing a pay per head bookie website in a state where all online gambling is legal..... and it started out small but now you are on pace for 6 figure profit with 30 different players.. what to do about taxes? Everything is through Venmo and cash app

Think we need our tax dodger expert @Gkell727 on the case for you

[ColourMeUp 1,686]

32 minutes ago, Gambler1222 said:

Say you were to start doing a pay per head bookie website in a state where all online gambling is legal..... and it started out small but now you are on pace for 6 figure profit with 30 different players.. what to do about taxes? Everything is through Venmo and cash app

Launder it into crypto, fuck tax

[andywilliams1187 1,540]

On 18/01/2021 at 16:34, Gambler1222 said:

Say you were to start doing a pay per head bookie website in a state where all online gambling is legal..... and it started out small but now you are on pace for 6 figure profit with 30 different players.. what to do about taxes? Everything is through Venmo and cash app

Speak to an accountant who can advise - not one of the ones advertising in your local paper or who has a big glamarous office. You want one of the ones who looks after people properly; they usually drive non-descript cars and dont brag about their wealth so they are always unde the radar. My old one used to drive a Fiat Punto hahaha. 

If your unsure, speak to a couple of self-employed contractors, they usually know the best guys to go to whowill do all they can to ensure you keep the most of the money without getting a knock on the door from the taxman