Many
people play online casino games for fun, but there is also the fact
that a great number of players head online with the hope of making it
rich, and winning a massive prize. A player shouldn’t be pinning all of
their hopes on winning a mammoth prize to cure all of their money
problems, but there is nothing wrong with having a little fantasy about
winning so much money. Of course, there is always a side of reality
that some players don’t factor into the equation, which is silly
because, let's face the truth, there are always two things we can be
certain about in life, and those two things are death and taxation.
Yes, if you are an online casino winner, you need to be able to pay
taxes on your winning. No amount of clever defenses or arguing is going
to help you change that fact. Some players will try and tell you that
they are playing an online casino that is based abroad, which means
that the income derived from these games are not liable for tax. On the
one hand, it is easy to see why this would be the case, but it is also
fair to say that this completely false. If someone tries to give you
this piece of advice, please ignore it and go about paying the taxes on
any winnings that you have.
Another argument that some players will try and provide, when it comes
to avoiding paying taxes, revolves around the fact that the taxes are
earned illegally. The US Government has spent a lot of time in the past
few years trying to convince players that online casino games are
illegal, and shouldn’t be played at all. This is their stance and
players will argue against it, but the idea that these games are
illegal will not wash with the officials. You only have to think back
to Al Capone, whose downfall came over the taxes he didn’t pay on all
of his illegal activities. Therefore, no matter what you are up to,
make sure that you have money put aside to pay your taxes, regardless
of how the money was earned.
A number of people also labor under the impression that they won’t be
audited, and therefore will not have to pay any taxes. This is a
different matter to not paying any taxes at all, and if you are able to
sneak under the radar of the officials, then yes, you are likely to get
away without having to pay taxes. However, all it takes is for you to
be audited once, and then all the money that you have earned from
gambling over a number of years can be put under close scrutiny. This
will see a player left with a considerable bill, which isn’t going to
be good in the long run.
There is no doubt that paying taxes is annoying and unliked by most
people, but they have to be paid unfortunately. Anyone who says it is
okay for an online casino player to not pay taxes is not telling the
truth. |
