Do touts pay taxes?

Sound of Silence

Sound of Silence

2
Was doing my taxes the other night and I got to thinking about whether or not touts pay taxes. It is "sports consulting", but it is still a very grey area and one that I would think would be a giant red flag to the IRS saying "audit me please!".

What do you guys think? Any experiences?
 
aceduecetrey

aceduecetrey

EOG Addicted
Was a tout for seven years and paid all my taxes! Was self incorporated and had my alias registered with the state and still got 3 years of probation, 6 months of house arrest and most of my assets seized!

oooooohhhhhh CANADA.....(in 16 more months anyways)
 
B

Bama Boy

EOG Member
Hey Ace

Hey Ace

Ace/ What did you do to get nabbed by the feds? I used to live in Vegas and worked for a three months for Wayne Root under the Jim Feist umbrella in 1995. What was the name of your company and what line of work are you in today?
 
aceduecetrey

aceduecetrey

EOG Addicted
Bama Boy said:
Ace/ What did you do to get nabbed by the feds? I used to live in Vegas and worked for a three months for Wayne Root under the Jim Feist umbrella in 1995. What was the name of your company and what line of work are you in today?
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In my opinion, I did nothing that warranted the actions of the FBI. My thougths are that the GOVT believed we were doing more than just touting because of the money that we brough in. They were convinced we were getting kickbacks from VIP for the loses that our clients had. We were doing nothing that all other touts at the time were doing. The problem is when they throw the fraud charge at you and include conspiracy and money laundering and the time starts to really mount up, it is to dangerous to fight the DOJ.

Now, I have a few different things that I do, but the main thing is I am a Loan Officer w/ a mortgage company.
 
Reggie Dunlop

Reggie Dunlop

2
Tesco Vee said:
isnt there a way to look at company tax filings?
if so, we can see how much Wayne Root claims?
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If they are privately held, then I don't think there is any way to legally get a copy of their tax returns. If they are a publically traded company then they must provide the required financial information to the Securities and Exchange Commission. That would be public information.
 
Sound of Silence

Sound of Silence

2
I'd like to hear some stories if you guys are willing to share. Got a friend whose brother does it as a part time business... Probably takes in less than $10k in "subscriptions", but does at least half of it thru an online credit card processor (Clickbank I believe is what he uses), which I'm sure has a paper trail.... Should I be telling him to watch himself?
 
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