W
WillySmackYoAss
Rock Star
Silver Level
It's been awhile since I've posted here, good to be back.
Hypothetically speaking.
If someone netted $75K for the year in poker. Are they subject to pay any taxes other than income tax? Do they have to pay social security tax, medicare tax, etc?
I'm not finding anything when I google what taxes do professional gamblers have to pay, it gives me a whole bunch of wording that I don't understand completely and doesn't give me a straight answer. I just want to know other than federal and state income tax, what other taxes have to be paid? Thanks.
Hypothetically speaking.
If someone netted $75K for the year in poker. Are they subject to pay any taxes other than income tax? Do they have to pay social security tax, medicare tax, etc?
I'm not finding anything when I google what taxes do professional gamblers have to pay, it gives me a whole bunch of wording that I don't understand completely and doesn't give me a straight answer. I just want to know other than federal and state income tax, what other taxes have to be paid? Thanks.