1. By continuing to use the site, you agree to the use of cookies .This website or its third-party tools use cookies, which are necessary to its functioning and required to achieve the purposes illustrated in the cookie policy.Find out more.
    Dismiss Notice
  2. Dismiss Notice
  3. Follow Casinomeister on Twitter | Facebook | YouTube | Casinomeister.us US Residents Click here! |  Svenska Svenska | 
Dismiss Notice

Poll:Best Screenshot of the Month?



Candidates Revealed...Cast your vote!.
Dismiss Notice
REGISTER NOW!! Why? Because you can't do diddly squat without having been registered!

At the moment you have limited access to view most discussions: you can't make contact with thousands of fellow players, affiliates, casino reps, and all sorts of other riff-raff.

Registration is fast, simple and absolutely free so please, join Casinomeister here!

will they tax us on rackeback

Discussion in 'Casinomeister's Poker Room' started by rockycatt, Nov 22, 2012.

    Nov 22, 2012
  1. rockycatt

    rockycatt meistercatt CAG MM

    Occupation:
    carpenter
    Location:
    Boston
    so how do you think the u s a will treat rake back when its legal will they tax us on rakeback
     
  2. Nov 22, 2012
  3. Cleveland

    Cleveland Meister Member

    Occupation:
    Professional problem solver
    Location:
    Texas
    I'm not sure what that is :( . Can you explain so I don't have to google....yea I'm being lazy :oops:
     
  4. Nov 22, 2012
  5. rockycatt

    rockycatt meistercatt CAG MM

    Occupation:
    carpenter
    Location:
    Boston
    never join up at a poker room with out first going through a rake back affiliate they code you when you sign up and pay you back usually 35% of your rake back on a monthly basis on line poker roars through a gazillion hands i know peeps that play break even poker and get there profit from there rake back ,and its treated as cash no no w/r just cash it out if u want


    PS we should get it from slot play, and its for life


    cleave ref -------->You must register/login in order to see the link.
     
    2 people like this.
  6. Nov 22, 2012
  7. pokeraddict

    pokeraddict Webmaster

    Occupation:
    Pro Poker Player
    Location:
    Las Vegas
    The Nevada regulations only posts net withdrawals although the same type of tournament rules apply for W2Gs, which is a net win of $5000 or more. That does not mean that is what the IRS thinks, but one would assume the IRS had some input there because there is no state income tax in Nevada. The IRS would also be able to see how much money you had in your account if there was a court order.

    I have not heard of any Nevada online poker room even discuss rakeback. I would not count on it existing but nothing is live yet so who knows. Currently, rakeback is only taxed as part of net win. In other words, if you lost $10 but your rakeback was $10 then you had a $0 session.

    Disclaimer: Not an accountant, seek professional advice at tax time.
     
    1 person likes this.

Share This Page