Page 1 of 4 1234 LastLast
Results 1 to 20 of 70

Thread: Professional gambler deductions

  1. #1
    I thought it would be appropriate to start a separate thread about professional players and their tax deductions, since we have some pros here and APs who want to maximize their returns both in casinos and with the IRS.

    Here are a couple of bits of info from the IRS that might be useful and might start off the conversation:

    To be deductible for tax purposes, expenses incurred for travel, meals, and entertainment must be ordinary and necessary expenses incurred while carrying on your trade or business. Generally, you also must show that entertainment expenses (including meals) are directly related to, or associated with, the conduct of your trade or business.

    For 2014, the standard mileage rate for the cost of operating your car for business use is 56 cents per mile.

    lodging and meals: your lodging and meals if your business trip is overnight or long
    enough that you need to stop for sleep or rest to properly perform your
    duties. Meals include amounts spent for food, beverages, taxes, and
    related tips.


    You cannot deduct expenses for meals that are lavish or extravagant. An expense is not considered lavish or extravagant if it is reasonable based on the facts and circumstances. Expenses will not be disallowed merely because they are more than
    a fixed dollar amount or take place at deluxe restaurants, hotels, nightclubs, or resorts.


    50% limit on meals. You can figure your meals expense using either of the following
    methods.
    Actual cost.
    The standard meal allowance.

    But, regardless of the method you use, you generally can deduct only 50% of the unreimbursed cost of your meals.

  2. #2
    Not the entire book Alan, hardly, but it probably doesn't matter since there probably aren't any full-time pro gamblers here.

  3. #3
    You also have to pay into FICA on your own.

  4. #4
    Originally Posted by arcimede$ View Post
    You also have to pay into FICA on your own.
    True but FICA is a limited amount.

  5. #5
    Originally Posted by Rob.Singer View Post
    Not the entire book Alan, hardly, but it probably doesn't matter since there probably aren't any full-time pro gamblers here.
    Wanna bet?

  6. #6
    Originally Posted by slobdinger View Post
    Wanna bet?
    Yes, I would. A schedule C would suffice as evidence.

  7. #7
    Originally Posted by Rob.Singer View Post
    Yes, I would. A schedule C would suffice as evidence.
    LOL! No bet. Do you really think I would divulge any information about myself to you? I've watched you operate for years. You take any and all information you have about someone, twist it around, and use it to disparage them. In the dinner thread you cried about all the people who called you a fraud. Who brought that on themselves. In all the gambling forums you've participated in, and eventually got banned from, countless people have respectfully disagreed with you on video poker tactics. For being nice they got called morons, stupid, idiots, pathetic, degenerate, and a host of other disparaging terms by you. Then you have the gall to say its not nice of them to call you a fraud? Get real, Rob. Some people fire back at you. Live by the sword die by the sword.

  8. #8
    mickey lets see you come up with one instance of someone RESPECTFULLY disagreeing with me on vp strategy or anything else I said and me come back and call them any of those aforementioned names prior to them either attacking me or lying about me. I'd ask for a bet on this but you neither have the money, the fortitude (see above post of running for cover) or the truthfulness residing anywhere inside of you. But I would be happy to bet a tube of toothpaste if you're so inclined.

    Look who's talking about getting banned.... At least I never come back as an alias.

  9. #9
    Originally Posted by Rob.Singer View Post
    At least I never come back as an alias.
    What's that you say, aces hii, er, Robbie? And I do believe someone told me Alan caught you using an alias twice. Maligno Robbie is an honest man.If you don't believe it just ask aces hii
    Last edited by slobdinger; 12-08-2015 at 03:16 PM.

  10. #10
    Originally Posted by Rob.Singer View Post
    mickey lets see you come up with one instance of someone RESPECTFULLY disagreeing with me on vp strategy or anything else I said and me come back and call them any of those aforementioned names
    Hmmm.... how many times have you brought up my divorces and how many times have you called me an addicted gambler. I don't think I ever called you one of those "names."

  11. #11
    Originally Posted by Alan Mendelson View Post
    Hmmm.... how many times have you brought up my divorces and how many times have you called me an addicted gambler. I don't think I ever called you one of those "names."
    LOL! You're busted, Rob.

  12. #12
    Originally Posted by slobdinger View Post
    What's that you say, aces hii, er, Robbie? And I do believe someone told me Alan caught you using an alias twice. Maligno Robbie is an honest man.If you don't believe it just ask aces hii
    mickey my pal, you should know by now that whenever you use "Robbie" you give away the store about making up another story.....just like you do with those false tales to reel in the vpFree newbies trying to make them think your something. I've never once posted under an alias anywhere without first identifying myself and why--like I did using babybubba on videopoker.com.

  13. #13
    Originally Posted by Alan Mendelson View Post
    Hmmm.... how many times have you brought up my divorces and how many times have you called me an addicted gambler. I don't think I ever called you one of those "names."
    Nope, I don't believe you've ever called me any names. But why lie about something so obvious as "divorced". If you're divorced, you're divorced. Are you now claiming you have never been divorced? And addicted gambler? That's a very accurate description of many people, including you. Why pretend it's just a name? I've admitted to being one in the past. Would I call myself a "name"?

  14. #14
    I never lied about being divorced. Where did that come from? In fact I've said it here several times, and I'm open about it. It's you Rob who threw that into your posts as some sort of badge of shame and weakness when you responded to my opinions. And yes you accused me of being an addicted gambler many times. You throw these insults into your posts routinely. Just like you have to mention how Arc's wife was ill and died -- you have to say it all the time.

    So why do you? Probably because your own arguments are weak and you need insults and spam to cover the weakness of your own responses.

    Instead of showing strength your insults show your own weakness.

  15. #15
    Exactly right, Alan. That is why his insults have never bothered me. They clearly show his weakness which almost everyone can see.

    Now, where is belly boy to save the day?

  16. #16
    Originally Posted by arcimede$ View Post
    Now, where is belly boy to save the day?
    I am happy to oblige and mediate.

    Originally Posted by slobdinger View Post
    For being nice they got called morons, stupid, idiots, pathetic, degenerate, and a host of other disparaging terms by you.
    Originally Posted by Rob.Singer View Post
    mickey lets see you come up with one instance of someone RESPECTFULLY disagreeing with me on vp strategy or anything else I said and me come back and call them any of those aforementioned names prior to them either attacking me or lying about me.
    The aforementioned names are "morons, stupid, idiots, pathetic, degenerate"

    An instance was not provided where Rob called anyone, who respectfully disagreed, any of those names without having been attacked first.

    Originally Posted by slobdinger View Post
    In all the gambling forums you've participated in, and eventually got banned from, countless people have respectfully disagreed with you on video poker tactics.
    Originally Posted by Alan Mendelson View Post
    Hmmm.... how many times have you brought up my divorces and how many times have you called me an addicted gambler. I don't think I ever called you one of those "names."
    slobdinger refers to "gambling forums you've participated in, and eventually got banned from",
    which I consider to mean other forums...not this one.

    Although Rob has been temporarily suspended here, he is not banned, so this forum doesn't apply to Rob's reply above.

    I don't consider "divorced" to be a disparaging term, so that wouldn't be name-calling.

    "addicted gambler" could be considered disparaging, if the target is not an addicted gambler.

    I haven't read where the target has denied being an addicted gambler...but that doesn't make him a bad person.

  17. #17
    I am not an addicted gambler. I consider being called an addicted gambler not only insulting but also libelous and made to damage my good name, reputation and business. There you have it, coach.

  18. #18
    Here's one comment Singer made about Jean Scott. I wonder how belly boy will dismiss all the slams.

    "If the link has anything to do with Sin City & Old Biddies, it's got
    something to do with Jean Scott nonsense. I don't waste time with
    that phony's baloney. She gives me enough material to write about
    with her constant complaining to my publishers. They think....know,
    she's a cook and a fake, and she writes useless columns only to
    appease her longing for the 'good ol days' when she was a school
    teacher helping others, and wasn't addicted to BJ or video poker with
    a need to bamboozle unsuspecting players into buying the junk she has
    to sell in order to feed her gambling habit."

    https://groups.yahoo.com/neo/groups/...s/messages/138

  19. #19
    Originally Posted by arcimede$ View Post
    Here's one comment Singer made about Jean Scott. I wonder how belly boy will dismiss all the slams.
    Rob claims that she attacked him first...constant complaints to his publisher.

    Any reason not to assume that is true...that Jean Scott complained about Rob to his publisher?

    I didn't read through the link you sent, is there anything else within that applies?

  20. #20
    Originally Posted by Alan Mendelson View Post
    I am not an addicted gambler. I consider being called an addicted gambler not only insulting but also libelous and made to damage my good name, reputation and business. There you have it, coach.
    OK...thanks for clearing that up.

    And you consider Rob a friend?...lucky for him that you do.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •