Anyone here routinely bet on sports? Other than Aggies obviously.
Bush School/EMPSA '21
Ha! With crypto, is it still "illegal" or just frowned upon?Cramp00 said:
gambling is illegal and immoral
i have 3 books
ifortworth said:Ha! With crypto, is it still "illegal" or just frowned upon?Cramp00 said:
gambling is illegal and immoral
i have 3 books
Not what I was told.Cramp00 said:
Is sex with a donkey legal if you pay it in crypto?
Is he in trouble for gambling or for not paying taxes on his winnings?G. hirsutum Ag said:
If you are in Texas I would highly advise you not to do it. Good friend of mine is in serious trouble with the IRS and is facing possible jail time
Not all gambling income is illegal. However recent changes in tax law eliminated the write-off of gambling losses that would offset gambling gains.G. hirsutum Ag said:
Ultimately it's from not paying the taxes off of his gambling income. But he couldn't claim it because its illegal income. He reached a point that he had too much cash to spend and started depositing it slowly. Ended up doing some structured deposits and was fine until his exwife brought up "other income" in divorce court. Yes he was dumb but it's easy to lose sight of things
G. hirsutum Ag said:
Ultimately it's from not paying the taxes off of his gambling income. But he couldn't claim it because its illegal income. He reached a point that he had too much cash to spend and started depositing it slowly. Ended up doing some structured deposits and was fine until his exwife brought up "other income" in divorce court. Yes he was dumb but it's easy to lose sight of things
Saint Pablo said:
Why is online gambling illegal lol
pbrancazio said:Not all gambling income is illegal. However recent changes in tax law eliminated the write-off of gambling losses that would offset gambling gains.G. hirsutum Ag said:
Ultimately it's from not paying the taxes off of his gambling income. But he couldn't claim it because its illegal income. He reached a point that he had too much cash to spend and started depositing it slowly. Ended up doing some structured deposits and was fine until his exwife brought up "other income" in divorce court. Yes he was dumb but it's easy to lose sight of things