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    All Forums | College Football

    If I lay $55,000 on Clemson +3 in Vegas and win, do I have to pay taxes on my winnings?

    «First Previous 123
    jimmydafreak
    vanzack
    Mikey_Likey
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    jimmydafreak
    jimmydafreak
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    Posted: Dec. 9, 2015 - 7:36 PM ET #51

     of s
    Quote Originally Posted by Cooler999:


    Yeah, I love seeing the IRS having HUGE bonus's given out for such a job well done. Gotta love the $500.00 toilet seats the government purchases with the hard earned money you handed over to them. Hey, it's not their money, thats why their isn't an oversight committee to watch them.
    And don't forget those extravagant parties they had last year on our dime.  The economy is not growing, people starving for a good job, and not one person was fired or admonished for wasting OUR money.

    Those slime dogs will take every last penny you own, even if your totally in the right.  The burden is always on you, and it's their mission to have you spend all your money on lawyers just to prove what you said in the first place, then end up settling with both devils.

    I don't know why Van is such a advocate for the IRS.  I understand explaining the rules that were asked of him, but he seems almost offended if you even try to save any winnings you may make.

    And SKIPSTER......Nice advise coming from someone who isn't from America, or ever even paid a penny in taxes.....DOUCHE.
    It sounds like I've had IRS problems.  Never have, but read enough horror stories about innocent people who were treated like criminals, and spent everything they had to just get back to normal.

    The End

    Good post, except the money collected by the IRS does not go to the federal government to pay for $500 toilet seats.  The money goes directly into the  pockets of those who own the Federal Reserve Bank.  They in turn lend that money back to the federal government at interest.

     

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     of s
    Quote Originally Posted by Cooler999:


    Yeah, I love seeing the IRS having HUGE bonus's given out for such a job well done. Gotta love the $500.00 toilet seats the government purchases with the hard earned money you handed over to them. Hey, it's not their money, thats why their isn't an oversight committee to watch them.
    And don't forget those extravagant parties they had last year on our dime.  The economy is not growing, people starving for a good job, and not one person was fired or admonished for wasting OUR money.

    Those slime dogs will take every last penny you own, even if your totally in the right.  The burden is always on you, and it's their mission to have you spend all your money on lawyers just to prove what you said in the first place, then end up settling with both devils.

    I don't know why Van is such a advocate for the IRS.  I understand explaining the rules that were asked of him, but he seems almost offended if you even try to save any winnings you may make.

    And SKIPSTER......Nice advise coming from someone who isn't from America, or ever even paid a penny in taxes.....DOUCHE.
    It sounds like I've had IRS problems.  Never have, but read enough horror stories about innocent people who were treated like criminals, and spent everything they had to just get back to normal.

    The End

    Good post, except the money collected by the IRS does not go to the federal government to pay for $500 toilet seats.  The money goes directly into the  pockets of those who own the Federal Reserve Bank.  They in turn lend that money back to the federal government at interest.

     

     
    vanzack
    vanzack
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    Posts: 60107
    Posted: Dec. 9, 2015 - 9:26 PM ET #52

    Quote Originally Posted by Cooler999:


    Yeah, I love seeing the IRS having HUGE bonus's given out for such a job well done. Gotta love the $500.00 toilet seats the government purchases with the hard earned money you handed over to them. Hey, it's not their money, thats why their isn't an oversight committee to watch them.
    And don't forget those extravagant parties they had last year on our dime.  The economy is not growing, people starving for a good job, and not one person was fired or admonished for wasting OUR money.

    Those slime dogs will take every last penny you own, even if your totally in the right.  The burden is always on you, and it's their mission to have you spend all your money on lawyers just to prove what you said in the first place, then end up settling with both devils.

    I don't know why Van is such a advocate for the IRS.  I understand explaining the rules that were asked of him, but he seems almost offended if you even try to save any winnings you may make.

    And SKIPSTER......Nice advise coming from someone who isn't from America, or ever even paid a penny in taxes.....DOUCHE.
    It sounds like I've had IRS problems.  Never have, but read enough horror stories about innocent people who were treated like criminals, and spent everything they had to just get back to normal.

    The End

    I dont know how I can be less opinionated than what I wrote.

    I laid out the facts.  What he does with them is his decision.

    I am not an advocate for the IRS.  There were questions, and I gave him the answers as the IRS would answer them.  If you are seeing any between the lines advice - it is you who is seeing it and none is intended.
    Support your local animal shelter. I am on twitter.
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    Quote Originally Posted by Cooler999:


    Yeah, I love seeing the IRS having HUGE bonus's given out for such a job well done. Gotta love the $500.00 toilet seats the government purchases with the hard earned money you handed over to them. Hey, it's not their money, thats why their isn't an oversight committee to watch them.
    And don't forget those extravagant parties they had last year on our dime.  The economy is not growing, people starving for a good job, and not one person was fired or admonished for wasting OUR money.

    Those slime dogs will take every last penny you own, even if your totally in the right.  The burden is always on you, and it's their mission to have you spend all your money on lawyers just to prove what you said in the first place, then end up settling with both devils.

    I don't know why Van is such a advocate for the IRS.  I understand explaining the rules that were asked of him, but he seems almost offended if you even try to save any winnings you may make.

    And SKIPSTER......Nice advise coming from someone who isn't from America, or ever even paid a penny in taxes.....DOUCHE.
    It sounds like I've had IRS problems.  Never have, but read enough horror stories about innocent people who were treated like criminals, and spent everything they had to just get back to normal.

    The End

    I dont know how I can be less opinionated than what I wrote.

    I laid out the facts.  What he does with them is his decision.

    I am not an advocate for the IRS.  There were questions, and I gave him the answers as the IRS would answer them.  If you are seeing any between the lines advice - it is you who is seeing it and none is intended.
     
    Mikey_Likey
    Mikey_Likey
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    Posts: 149
    Posted: Dec. 11, 2015 - 4:01 AM ET #53

    Easy man.. just spread your bet through multiple casinos!
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    Easy man.. just spread your bet through multiple casinos!
     
    dwchopper46
    dwchopper46
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    Posts: 216
    Posted: Dec. 11, 2015 - 10:45 AM ET #54

    you can use me   I  do not pay any taxes on anything
    disabled veteran
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    you can use me   I  do not pay any taxes on anything
    disabled veteran
     
    rubberneck
    rubberneck
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    Posts: 3216
    Posted: Dec. 11, 2015 - 8:57 PM ET #55

    too bad you don't have 50k
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    too bad you don't have 50k
     
    RyanTRuchie
    RyanTRuchie
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    Posts: 4008
    Posted: Dec. 12, 2015 - 2:48 AM ET #56

    darn the IRS and tell them to pound sand. 


    I have a huge man crush on BLB
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    darn the IRS and tell them to pound sand. 


     
    TreyInventor
    TreyInventor
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    Posts: 13775
    Posted: Dec. 12, 2015 - 7:13 AM ET #57

    Quote Originally Posted by jimmydafreak:

    Quote Originally Posted by Skipster:

    Pay your fugging taxes, you scumbag thief.

    So people who want to keep their own money are thieves?

    LOL!!!
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    Quote Originally Posted by jimmydafreak:

    Quote Originally Posted by Skipster:

    Pay your fugging taxes, you scumbag thief.

    So people who want to keep their own money are thieves?

    LOL!!!
     
    dytide
    dytide
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    Posted: Jan. 2, 2016 - 6:20 PM ET #58

    update ?
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    update ?
     
    Zoot
    Zoot
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    Posted: Jan. 2, 2016 - 6:45 PM ET #59

    And not all books will accept a 50k bet
    Best to do several smaller bets at different books
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    And not all books will accept a 50k bet
    Best to do several smaller bets at different books
     
     
    TheGeneral01
    TheGeneral01
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    Posts: 731
    Posted: Jan. 2, 2016 - 6:57 PM ET #60

    Quote Originally Posted by DonChrono:

    If I lay $55,000 on Clemson +3 in Vegas and win, do I have to pay taxes on my winnings?

    $55K wins $50K for a total of $105K.

    Must I pay taxes on it or can I just keep it in cash and not be approached by the IRS?

    Does anyone know how that works?

    Thanks

    You put down 55K to win 50K. You only win the 50 K not 105 K.  So ur left with ur orig. 55K plus ur 50 K you won.
    Reply
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    Quote Originally Posted by DonChrono:

    If I lay $55,000 on Clemson +3 in Vegas and win, do I have to pay taxes on my winnings?

    $55K wins $50K for a total of $105K.

    Must I pay taxes on it or can I just keep it in cash and not be approached by the IRS?

    Does anyone know how that works?

    Thanks

    You put down 55K to win 50K. You only win the 50 K not 105 K.  So ur left with ur orig. 55K plus ur 50 K you won.
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