Re:What Winning $250k at Poker Taught Me About Money
by topmonk on Wednesday March 27, 2019 @08:59PM
(#19508049)
This tax rate is for general work when self employed. It's not specific to gambling.
Re:What Winning $250k at Poker Taught Me About Money
by baking on Wednesday March 27, 2019 @11:05PM
(#19508829)
Honestly, it is for ordinary wages also. The self-employment tax is basically the same as the employee and employer portions of the FICA taxes. (I think the only difference is that the self-employment tax basis is the before tax income while the wages tax basis is after the employer portion has already been paid.)
Government policy should incentivize constructive industries.