A tax issue

S

Sky123987

This is actually an online poker question, but because the people on the poker forums aren't so smart ~ this issue I've decided to post it here.


K,
what I want to do is to sign my girlfriend (not married and not soon to be) up for a poker site. When I make money and cash out, she'll receive a check in her name. I then will have her sign it over to me.

I want the tax liability to be all mine. I don't want the IRS knocking on her door and be like, well all these checks were in your name, where's the tax $s you owe.

Any ideas on what I should do?
 
Quote from trader59:

Let her file a 1099 misc. in your name to pay you most of the money for account management.
More...

---- wow this is excellent, ty. Is there a minimum percentage that she must keep?

Thanks
 
Not officially. if the IRS finds it to their advantage to have her pay tax on it, they might ask why she is paying you so much. Otherwise, any reasonable amount is not a problem.
You understand that this means you managed her account (you told her how to bet her hand). I don't know the legal implications of that visa vis state gambling laws. Either way, if this involves a significant amount of money, consult an accountant who know this stuff (LOL finding one)..
 
See I already have an account playing poker, but what I want to do is open another account to play more games...

looks like I'm going to have to consult an accountant or lawyer on this one
 
You must log in or register to reply here.
Back
Top