Brian wrote: As a Canadian, I have a tax id number from prior years.
They still deduct witholdings. .
For this reason I could never play for high stakes. Every time a
hand-pay is hit they would deduct 30% of the win. Wouldn't take too long
before the bankroll has disappeared into witholdings.
Wouldn't see the refund for many, many months. You would effectively be giving Uncle Sam an interest-free loan.
I can see objecting to an "interest free loan" being a gut-level "principle of the thing" reaction, but in practice, interest rates are so low it's pretty negligible.
Insofar as the 30% of W2G amount goes, yes that would require a loan to the US for a half-year on average --- but you get it back. It's a factor to consider bankroll-wise, but it doesn't have to be a showstopper. By the time your bankroll is getting small from this year's withholdings, you're getting your refund check from last year! In a way, it's a forced savings account.
If the games were good enough (big if!), this could be managed easily enough
Bob
[Non-text portions of this message have been removed]
Posted by: Bob Dancer <bobdancervp@hotmail.com>
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