What If We Decide to play Full Time?

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What If We Decide to play Full Time?

Postby asiangravy » Tue Jan 08, 2008 10:34 am

If we're gonna play full time. How are we suppose to be filing for our income tax or can we remain "unemployed"
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Re: What If We Decide to play Full Time?

Postby Nicefingers » Tue Jan 08, 2008 11:31 am

Self-employed. i think u will be taxed like in the us.
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Re: What If We Decide to play Full Time?

Postby ohboy » Tue Jan 08, 2008 3:12 pm

if you declare income from poker, be prepared for a knock on the door
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Re: What If We Decide to play Full Time?

Postby felixleong » Wed Jan 09, 2008 6:49 pm

Singapore Law hor... there is not selection for "professional poker player" as an occupation
but in the US hor... you can select the above PPP as an occupation and pay tax accordingly
most PPP keep a journal and it should be submited along with other tax forms.

In singapore hor, just keep quiet and earn from poker , most probably they think u doing some odds jobs ( example working in coffee shop, selling tissue paper, collecting cans ) and they wouldnt find u.

But if u are getting cheques in hundred thousands or millions from your poker site and depositing into your local bank account....... i can only say "GG" be prepared to be on the newspaper front cover ^_^
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Re: What If We Decide to play Full Time?

Postby asiangravy » Wed Jan 09, 2008 7:28 pm

Shit then how? Are there any loopholes? The moneybooker limit is running out, how to withdraw then?
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Re: What If We Decide to play Full Time?

Postby ohboy » Thu Jan 10, 2008 7:14 am

u can deposit in my account

i will take full responsibility for the risk=)
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Re: What If We Decide to play Full Time?

Postby felixleong » Thu Jan 10, 2008 4:48 pm

Just draw out the $$ via cheque to your house, cashing in 3-5 figures to your local bank account is fine ^_^
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