- This topic is empty.
-
Posts
-
Originally posted by SlotChik
it can’t be taxed if it isnt money that is made in this country.Makes zero difference. If you are a US citizen, all income you make from any source that isn’t specifically exempted (like child support or something like that) is taxable. Makes no difference where you make the money, or even how. If you sold drugs illegally in Nigeria the income you made would be taxable.
Whether you pay or not is your business, but it is definitely taxable income.
Whoa, girl! 😮
If you’ve been thinking the income from your site isn’t taxable all this time and have not been keeping books and claiming it…and setting some aside………….Whoa! It is absolutely taxable income.
While you could probably get away with not claiming the odd win at an online casino, not claiming a steady income from a website would be a little riskier.
You have two choices: Ignore it and hope your name never comes up in the IRS audit “lottery”, or get a GOOD accountant to help you with your taxes so you can sleep at night.
I strongly suggest that you have all your “i”s dotted and all your “t”s crossed, especially in this industry.
All laws, tax and otherwise, need to be followed religiously.
I report all my gambling wins cuz I lose way more then I win…..but how do you claim this as income? I make very little but do I give them neteller statements? I’ll have to call my tax guy then and do an amendment but it’s not a lot of money. I havent done anything with my site in awhile. It’s just the little bit that trickles in every now and then.
I just found that money in iglobal but found out its 105.00 LOL
Thanks for the advice though. I know site owners who dont report the income at all, and make way more then I do….so I didnt know.
SlotChik please ask an accountant what would be best to do for your locality.
While it’s fun to exchange ideas on message boards, when it comes to legal or tax issues we ALWAYS recommend you consult an attorney or accountant before making any assumptions/decisions on what is or isn’t allowed or advisable.
