How do you figure taxes as being at 45%?
If you are not a professional gambler, gambling income is reported on other income line 21. Its treated exactly the same as income from other sources. You pay the appropriate amount for your bracket. For somebody making $65000, with standard deductions, etc. that works out to about 15%. Arizona will hit you with another 4.25%. All told, you're looking at less than 20%.
That is assuming that you aren't filing as a professional gambler. If you do file as a professional gambler, you get to claim deductions for expenses, etc. From your description, it sounds like you would qualify as a pro.
I'm trying to figure out where the 45% number comes from.
How do you figure taxes as being at 45%?
If you are not a professional gambler, gambling income is reported on other income line 21. Its treated exactly the same as income from other sources. You pay the appropriate amount for your bracket. For somebody making $65000, with standard deductions, etc. that works out to about 15%. Arizona will hit you with another 4.25%. All told, you're looking at less than 20%.
That is assuming that you aren't filing as a professional gambler. If you do file as a professional gambler, you get to claim deductions for expenses, etc. From your description, it sounds like you would qualify as a pro.
I'm trying to figure out where the 45% number comes from.






 You lost any interest from myself and 99% of the people on Covers when you strongly defended Obama and the Universal Health-Horse-Garbage.  Please take this shit onto a forum that Strong Liberals and Lost Democrats give a flying fuck.  We are here to make money gambling on disinterested sports' professionals who change their motivation daily on whether or not they want to perform as we carefully assess whether or not to wager our hard earned money on their team.  Obama talk is the last fucking thing most everyone on the site wants to hear someone tout right now...Especially from a guy who is gambling his money away and then bragging about government handouts.  Beat-it.
 You lost any interest from myself and 99% of the people on Covers when you strongly defended Obama and the Universal Health-Horse-Garbage.  Please take this shit onto a forum that Strong Liberals and Lost Democrats give a flying fuck.  We are here to make money gambling on disinterested sports' professionals who change their motivation daily on whether or not they want to perform as we carefully assess whether or not to wager our hard earned money on their team.  Obama talk is the last fucking thing most everyone on the site wants to hear someone tout right now...Especially from a guy who is gambling his money away and then bragging about government handouts.  Beat-it.
                             You lost any interest from myself and 99% of the people on Covers when you strongly defended Obama and the Universal Health-Horse-Garbage.  Please take this shit onto a forum that Strong Liberals and Lost Democrats give a flying fuck.  We are here to make money gambling on disinterested sports' professionals who change their motivation daily on whether or not they want to perform as we carefully assess whether or not to wager our hard earned money on their team.  Obama talk is the last fucking thing most everyone on the site wants to hear someone tout right now...Especially from a guy who is gambling his money away and then bragging about government handouts.  Beat-it.
 You lost any interest from myself and 99% of the people on Covers when you strongly defended Obama and the Universal Health-Horse-Garbage.  Please take this shit onto a forum that Strong Liberals and Lost Democrats give a flying fuck.  We are here to make money gambling on disinterested sports' professionals who change their motivation daily on whether or not they want to perform as we carefully assess whether or not to wager our hard earned money on their team.  Obama talk is the last fucking thing most everyone on the site wants to hear someone tout right now...Especially from a guy who is gambling his money away and then bragging about government handouts.  Beat-it.Not day after day... i won last night on Phoenix big.
65k a year is big, even if you are living with your g.f and have 2 pets, you can survive...
you can or cant hope with insentives etc...
but sure thing if they gave it to you, you accept it. hehe.
HUNGRY YOU ARE A FULL OF CRAP AGAIN. I THOUGHT YOU ARE A CHANGE MAN. LOL
Not day after day... i won last night on Phoenix big.
65k a year is big, even if you are living with your g.f and have 2 pets, you can survive...
you can or cant hope with insentives etc...
but sure thing if they gave it to you, you accept it. hehe.
HUNGRY YOU ARE A FULL OF CRAP AGAIN. I THOUGHT YOU ARE A CHANGE MAN. LOL
 Guess I am blessed with being born in Norway and will never have to rely on insurance companies to back me up. God knows I would never trust them.
Guess I am blessed with being born in Norway and will never have to rely on insurance companies to back me up. God knows I would never trust them. Guess I am blessed with being born in Norway and will never have to rely on insurance companies to back me up. God knows I would never trust them.
Guess I am blessed with being born in Norway and will never have to rely on insurance companies to back me up. God knows I would never trust them.Not day after day... i won last night on Phoenix big.
65k a year is big, even if you are living with your g.f and have 2 pets, you can survive...
you can or cant hope with insentives etc...
but sure thing if they gave it to you, you accept it. hehe.
HUNGRY YOU ARE A FULL OF CRAP AGAIN. I THOUGHT YOU ARE A CHANGE MAN. LOL
 
                            Not day after day... i won last night on Phoenix big.
65k a year is big, even if you are living with your g.f and have 2 pets, you can survive...
you can or cant hope with insentives etc...
but sure thing if they gave it to you, you accept it. hehe.
HUNGRY YOU ARE A FULL OF CRAP AGAIN. I THOUGHT YOU ARE A CHANGE MAN. LOL

 
                            
 
  
                             
 
         
    
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