Reply to thread

Message: [QUOTE="ChipCommander, post: 4816639, member: 363075"] Yes it is great advice. :) You should also research the tax laws for poker. They are quite complex and you will want to get a good grasp of that and the things you should be keeping track of. Also you should specifically look at the state you are in (location) and see if it is a poker friendly state. Most people don't know nearly enough about the tax system and finding information takes quite a bit of effort and you will have lots of unanswered questions even after you spend many hours researching. Messing up here can be very costly and slow your progress greatly. I'd say it is even more important to get educated about these things than poker itself as when you are not good at poker at least you have some idea you might not be so good, but if you don't do your tax research you may have no idea that you are messing up and that can ruin your chances to be successful without you knowing it until it is too late. [/QUOTE]