For, I guess, a full decade after I called Harveys' Tahoe in '91 and
applied for casino credit I sought out any info I could find on a
manner to file as a Pro with IRS. I'd go by LV Gambler's Warehouse on
the seedy industry street next to I15 and while I could take a used
roulette layout there was totally nothing. So I looked backward to
local means. It seemed that to be a real business, get organized as
one.I went to the courthouse and took a DBA Doing Business As form
and sent it off to TX Sec of State. For a slight fee I was deemed a
Texas Business with a unique name and certificate. I now filed using
that business name with IRS until March '01 when we pleaded on a
different matter in US Tax Court. One day in an upstairs office at
IRS San Antonio, I spread out basic 10 years records concerning a
deed return on a condo in '91. Two IRS attorneys sifted all and
amazing, the DBA Pro Gambler was in the approved pile!It met all
requirements. When the lazy Political hack Judge found for IRS I had
trouble not kissing the lady from Austin. As we left the court she
said," I'm glad you have no mortgage, it makes it makes so much
easier to file a lien!" Was $14K involved and I simply sold shares
and paid. What it did was offer tax relief like a recent
decided '04 audit. Instead of an extra $4,000 tax on W2G income I
mentioned my Tax Court status. I was given $400 tax on Social
Security first time ever and $92 penality and interest from that
undeclared. The $45K W2G was recognized on Form A from a family
small business which saw a $19,000 loss. Figure free suites and meals
for many as 5 of us and seems a small profit at least mental. So,
when some who want to sell you advice on how difficult it is to be a
filing gambler? Think of what it takes to sell hotdogs in the park.
Usually it needs the day and date, the cost and receipts. Why is
casino play any different at all? IRS don't think so. And this case
the park sends annual profit/loss for nothin! And is on some camera!
EA
Great Enemy in the Sky; Casino and IRS
Maybe you shared some good information in this posting, but I can not
find out. I am not sure what you are talking about, as my mind reading
skills have disappeared, along with my savings.
Maybe you shared some good information in this posting, but I can not
find out. I am not sure what you are talking about, as my mind
reading
skills have disappeared, along with my savings.
I guess you should answer can you read Bill Buckley?
Could ask Harry for lessons or perhaps even ask me to explain any
esoteria. Almost all the words are found in a std dictionary and
stringing them in sequence between punctuation is fairly normal stuff.
It's even possible to make a career writing large volumes without
punctions and a noted musical comic made them verbally for many years.
I like to include them for reading ease. Ask away it all happend just
two weeks back and I have good short term still as, long term, does
IRS. I tend to rely on one's ability to recall what happened about 6
words back. Eases repeatition needs and even with IRS time is money.
Says so some'rs in the 60,000 pages. EA
···
--- In vpFREE@yahoogroups.com, "movedtoomuch" <movedtoomuch@...> wrote:
For, I guess, a full decade after I called Harveys' Tahoe in '91
and
applied for casino credit I sought out any info I could find on a
manner to file as a Pro with IRS. I'd go by LV Gambler's Warehouse
on
the seedy industry street next to I15 and while I could take a used
roulette layout there was totally nothing. So I looked backward to
local means. It seemed that to be a real business, get organized as
one.I went to the courthouse and took a DBA Doing Business As form
and sent it off to TX Sec of State. For a slight fee I was deemed a
Texas Business with a unique name and certificate. I now filed
using
that business name with IRS until March '01 when we pleaded on a
different matter in US Tax Court. One day in an upstairs office at
IRS San Antonio, I spread out basic 10 years records concerning a
deed return on a condo in '91. Two IRS attorneys sifted all and
amazing, the DBA Pro Gambler was in the approved pile!It met all
requirements. When the lazy Political hack Judge found for IRS I
had
trouble not kissing the lady from Austin. As we left the court she
said," I'm glad you have no mortgage, it makes it makes so much
easier to file a lien!" Was $14K involved and I simply sold shares
and paid. What it did was offer tax relief like a recent
decided '04 audit. Instead of an extra $4,000 tax on W2G income I
mentioned my Tax Court status. I was given $400 tax on Social
Security first time ever and $92 penality and interest from that
undeclared. The $45K W2G was recognized on Form A from a family
small business which saw a $19,000 loss. Figure free suites and
meals
for many as 5 of us and seems a small profit at least mental. So,
when some who want to sell you advice on how difficult it is to be
a
filing gambler? Think of what it takes to sell hotdogs in the park.
Usually it needs the day and date, the cost and receipts. Why is
casino play any different at all? IRS don't think so. And this case
the park sends annual profit/loss for nothin! And is on some
camera!
EA
Well that's wild. Probable the clearest thing I've written in last 6
years since Tax Court. Scans straight through( drat, wasted letters
again, getting to be a bad habit) Or perhaps you don't even care
there is such?
It describes how to become a professional gambler and declare
expenses beyond income shown on the W2Gs. I doubt as it sets up you
work making wages in a casino. That's the meaning of a W2, wage
earner and withholding info form. Simple directions on how to go
about setting it up and most important what IRS says as late as April
4, this. Maybe should ask have you ever had a W2G and had to ask how
it should be filed to best advantage instead of can you read. The
answer is declare; on direction of IRS APPEALS; you following this?
as business income and transfer to the section of Form A where that
crap goes. They want or need to see the rest, just give it to them
or send a simple declaration in lieu of filing which seems to work
about as well. I quit lessen you wish more explains. EA
···
--- In vpFREE@yahoogroups.com, "DIP" <crazydonconcepts@...> wrote: