What is my responsibility to income taxes as a professional poker player?
Nick P asked:
I have been playing poker professionally for the past few months and semi professional for awhile before that. I’m wondering what my responsibility is going to be to income taxes? Obviously the government is going to wonder how my house payment is being paid every month when I’m not showing any taxable income. What am I going to have to do come next tax season? Would it be a good idea to somehow launder my income by opening up a front business? Any advice will be appreciated.
Thanks in advance!!
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