RecentPoker RecentPoker.com
Home Page RecentPoker.com Online Poker Rooms Casino Bonus Online Casinos Casino News Gaming News gaming News Gambling Articles World Series Of Poker No Deposit Bonus
Online Slots
        Gambling Affiliates     |     Gambling Guide     |    Slot Tournaments Finder     |     Poker Pros    |     Recentpoker Twitter
   
Online Casino
Biggest Casino Bonuses
SlotsLv
$22 No Deposit Bonus
SlotsLV no deposit
Betonline Casino
$900 Signup Bonus
Betonline Bonus Code
Bovada Casino (Bodog USA)
$3000 Signup Bonus
Bovada Bonus Code
SlotsPlus Casino
$7000 SignUp Bonus
SlotsPlus First deposit bonus
ManhattanSlots
$767 x2 Signup Bonus
ManhattanSlots
Biggest Poker Bonuses
Bovada Poker (Bodog USA)
$1000 Sign Up Bonus
bovada poker bonus code
888Poker
$88 No Deposit Bonus
888 Poker no deposit bonus
Party Poker
$500 Sign Up Bonus
PartyPoker no deposit bonus
BetOnline Poker
$900 Sign Up Bonus
Betonline Poker bonus code
USA No Deposit Bonus

No Deposit Bonus : SlotsLv casino currently is offering everyone a $22 no deposit bonus. New Players Only. Fully Cashable. USA and Canadian Players are welcome. Please see our SlotsLv review page for the no deposit bonus info. SlotsLv Review

Best USA Casino Bonus

Big Casino Bonus : All USA Players Welcome: Bovada Casino the #1 USA Online Casino offering all new signups a $3000 table game and slots bonus + weekly cash back. All new accounts qualify thru our link. No codes needed. For full bonus information please see our Bovada Bonus review.

 

Bovada Casino Bonus Code

 
High Noon Casino no deposit bonus

Two of this year's WSOP main event finalists get a free tax ride

Tuesday  November 15, 2011 :  TAXING TIMES FOR POKER WINNERS
 
Two of this year's WSOP main event finalists get a free tax ride
 
The publication Taxable Talk published an interesting and unusual take on this year's World Series of Poker main event finalists this week, examining the tax liability on their multi-million dollar winnings.
 
The tax experts who undertook the study concluded that the nationality of this year's heads up duo, a German and a Czech, means that this year the US taxman picked up less than in previous years due to tax treaties.
 
Nevertheless, the spread of nationalities around the table ensured that taxmen elsewhere earned a cut, and Taxable Talk published a chart to summarise the overall picture:
 
Amount won at Final Table $28,279,219
Tax to IRS $3,819,362
Tax to Czech Tax Administration $814,963
Tax to Office of Revenue Commissioners (Ireland) $695,018
Tax to State Tax Service (Ukraine) $171,656
 
Total Taxes $5,500,999 or 19.5 percent of the final table prize pool, compared with last year's more American-oriented affair where the tax bite was 42.99 percent.
 
This year, two of the November Nine were exempt from any taxation.
 
Winner Pius Heinz is a German, and as such benefits from the German-US Tax Treaty, meaning he did not have a US tax liability on his $8.7 million plus main prize, saving him 30 percent of the win. Then, because Germany very sensibly treats gambling as the use of monies that have already been taxed, Heinz does not have to pay a cent to the German tax authority.
 
Contrast this with the case of an earlier winner, Peter Eastgate of Denmark, who had to give an estimated 73 percent of his 2008 win of $9.1 million to the Danish tax office.
 
The main event runner-up this year was Czech Republic citizen Martin Stazko, who also escaped the IRS tax net due to a Czech-US tax treaty. Stasko won the useful $5.4 million plus second prize, and therefore faces only Czech taxes as a professional player earning income, and will likely pay only 15 percent of his windfall over in tax - still a hefty hit at $814,963, Tax Table Talk points out. If Stasko was an amateur player he could claim his winnings entirely tax-free.
 
Taxable Talk looked at other players around the table, too. Professional ace Ben Lamb finished in the third spot, earning just over 4 million. Being a US resident, he'll be parting with over $1.5 million to the IRS in federal tax, although as a resident of Nevada he escapes state tax.
 
Matt Gianetti, who finished fourth, is in a similar position; as a Las Vegas resident he has no tax liability, but the IRS will claim an estimated $1 million or more from his fourth placing pay day of just over $3 million.
 
Phil Collins is also a Las Vegas professional and finished fifth to claim a prize of $2.2 million plus, from which the IRS will extract $852,480.
 
The remaining final tablers were all non-US players, and Taxable Talk reports on their individual tax liabilities, starting with Irishman Eoghan O'Dea who is exempt from US taxation through the Irish - US Tax Treaty, but as a professional player will have to cough up $695,018 of his $1,720,831 sixth spot win to the Irish government - at 40.4 percent the highest tax rate of any of his opponents.
 
Seventh-placed Belize resident Bob Bounahra earned $1,314,097, but due to the absence of a tax agreement between his country and the United States he has to fork out 30 percent ($394,229) of that to the US taxman. He can only hope that he will not also be faced with a 15 percent demand from his own government too.
 
Ukrainian poker pro Anton Makiievskyi, who finished eighth, collected a check for $1,010,015 and is again fortunate that a treaty with the US has been signed by his government. That means no US tax liability, although as a professional he will be required to pay over something like $171,656 to the State Tax Service of the Ukraine.
 
Finally, ninth-placed Sam Holden hails from the United Kingdom, and benefits from the UK-US Tax Treaty, losing nothing to the IRS. Like Pius Heinz, he is also in the happy position of not having to pay tax to his home government, because Britain does not tax gambling winnings.
 
The Taxable Talk assessment is an interesting and relevant piece that can be read in full here: http://www.taxabletalk.com/2011/11/09/the-real-winners-of-the-2011-world-series-of-poker/

Limited time offer for all our Readers. All Countries. A brand new No Deposit Bonus. No Max Cashout. Claim It Here.



Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

  Top 6 Poker Sites - Editor’s Pick
Poker Room
Info
Code
Bonus
Bovada Poker
1349384
$1000
BetOnLine Poker
None Needed
$900
ACR
None Needed
$1000
Fulltilt Poker Bonus Code Fulltilt Poker
None Needed
$10 ND
888 pacific poker 888Poker
None Needed
$400
PartyPoker PartyPoker
500free
$500
  Top 6 Casino Sites - Editor’s Pick
Casino
Info
Code
Bonus
SlotsPlus Casino
Claim20
$20 ND
Bovada Casino
1349384
$3000
MapleCasino Bonus Code MapleCasino
None Needed
Free Spins
SlotsLV
Slots22
$22 ND
Buzzluck Casino
Buzzluck
$868
SlotLand
FREE33RCNT
$33 Nd

Casino No Deposit Bonus Copyright © 2004-2016 | Recentpoker.com | All Rights Reserved. Copyscape Protected No Deposit Bonus Codes
Recentpoker.com

Please Note : Gambing might not be legal in your area. We bring you www.recentpoker.com as an information and gambling news site only. We hope that you find all the information and gambling news found in www.recentpoker.com to your liking. Please tell your friends about us and visit us again soon.

http://www.recentpoker.com