Best place to live

[supercoolmancool]

Where is the best place for a professional gambler to live? I'm thinking maybe Australia because I hear they don't pay taxes on gambling winnings. Since here in the USA you have to pay 15% income tax and online gambling is illegal, I'm thinking that would set us pretty far down the list. If you are an Australian citizen could you live in Vegas and not have to pay taxes? Why wouldn't everyone do this?

 

[EasyRhino]

Correction, in the US, you're supposed to pay whatever your tax rate is, be it 15% or 35%.

Also in the US, the gubbermint lays claim to taxes gambling winnings that you may make anywhere else in the world. I don't know if Australia has similar rules.

 

[ihate17]

perhaps for a poker player

Last time I was there, the blackjack and VP lead me to believe it was not the right place for a gambler.

ihate17

 

[halcyon1234]

Where is the best place for a professional gambler to live? I'm thinking maybe Australia because I hear they don't pay taxes on gambling winnings. Since here in the USA you have to pay 15% income tax and online gambling is illegal, I'm thinking that would set us pretty far down the list. If you are an Australian citizen could you live in Vegas and not have to pay taxes? Why wouldn't everyone do this?

Canada. You don't pay taxes, you're close enough to Vegas, and you can open a Neteller account.

=)

 

[Rspeirsmlb]

Whoa! you don't pay taxes on larger gambling winnings in Canada? Perfect for me.....next stop....Casino Windsor!!! :cool2:

 

[RJT]

Don't pay taxes on your gambling winnings in the UK either. Government ruled that if you had to pay on your winnings, your loses would have to be tax deductable lol.
Online gambling is perfectly legal over here and there are somewher in the region of 200 more casinos due to open over the next few years.
The draw backs are that most of the casinos seems to be moving towards shuffle machines and they really sweat the money. Anyone with even a faint US accent will get watched of here lol.

RJT.

 

[shadroch]

It is next to impossible for a US citizen to immigrate to Australia.Unless you have a specfic skill they need or are a multi-millionaire.
If you really want to gamble,go to Iraq. Semi-skilled truck drivers are making $5,000 a month or better

 

[21forme]

Are there any CPAs on the forum? I believe US citizens are required to pay taxes on their earnings wherever they are earned (with appropriate credits for foreign taxes, if paid.)

 

[supercoolmancool]

Wow. Canada sure sounds sweet. I'll have to look into becoming a citizen sometime.

 

[ScottH]

Just because you have to pay more taxes here, doesnt mean canada is a better place to be a pro gambler. I dont know, but I assume there are more oppurtunities in Vegas, so it could be better even though you have to pay taxes. Besides, I think most professionals move around a lot anyway.

 

[supercoolmancool]

Just because you have to pay more taxes here, doesnt mean canada is a better place to be a pro gambler. I dont know, but I assume there are more oppurtunities in Vegas, so it could be better even though you have to pay taxes. Besides, I think most professionals move around a lot anyway.

I'm thinking about being a Canadian citizen, but live in Vegas. I'm pretty sure you can do that.

 

[ScottH]

I'm thinking about being a Canadian citizen, but live in Vegas. I'm pretty sure you can do that.

Good idea. Get the tax benefits of being a canadian citizen, and get the playing benefits of living in Vegas. Sounds like a plan!

 

[jetace]

Good idea. Get the tax benefits of being a canadian citizen, and get the playing benefits of living in Vegas. Sounds like a plan!

Much better rules in Vegas too AY?

 

[bj bob]

South of the border!, Man

MEXICO... That's the ticket! Much closer to Vegas, better weather, food, cost of living and, if you join up, you can also achieve illegal status when sneaking back across the border. Think of all those free government comps! Why hell, you don"t even need car insurance.

 

[shadroch]

I'm thinking about being a Canadian citizen, but live in Vegas. I'm pretty sure you can do that.

Have you even looked into becoming a Canadian Citizen?They don't exctly have a welcome mat hanging out there.
Secondly,changing your citizenship for the purpose of avoiding paying taxes would quite possibly be construed as tax evasion.What gives you the impression that foriegn Nationals living in the Us don't pay US taxes?

 

[SystemsTrader]

I'm thinking about being a Canadian citizen, but live in Vegas. I'm pretty sure you can do that.

Taxes in both the US and Canada are based on residency and not citizenship. So if you become a Canadian citizen and live in the US, you will still have to pay tax on that money to good old Uncle Sam!

 

[21forme]

Also, taxes in Canada are a lot higher than here. Socialized medicine, etc. Canada makes our Libs look like Republicans!