Para-Mutual Investing & the I.R.S. & Security

[VoodooFan]

Please, some feedback from consistant winners or consistantly semi-consistant.

Maybe most of us will never have this problem, or at least, not for a long time, anyway, if ever.

But dealing with the Feds(IRS):

What has worked for you over the years, or the best piece of advice when doing taxes from winnings, like....

Is there a tax specialist who knows proper deductions and write-offs from Para-Mutual Investing?

Do you save ALL tickets, whether winners or losers?

Do you file long, as a corporation, capital gains, etc,.?

In general , how do the Feds treat consistant winners, and whats the best way NOT to throw up RED FLAGS their way and forever stay under the radar and OUT of their sight..?.....if that is at all possible.

Wonder what Brohamer or Bob Cochran, or even THE HAT would say or other charter teaching members?

Boy, what's it like to win enough to have these problems? Are there problems ? Or will there be problems?

Don't you got to watch your back, as far as security? Aren't there scum bags who hang around the track watching and waiting for a sucker to take?

Just remember that story about a stinking drunk dude at Hollywood park who won the pick 6 and had maybe $72,000 or so in cash, and just would'nt shut up about it. Kept bragging all the way out the door, on his way home, nice and loud for everybody to hear.

They found him dead, later, with his cash gone.

I guess to talk and dream about success is one thing, but to actually deal with it is alright also, maybe it's not as romantic as we fanticize.

But more money in yer pocket is better than less money you don't have.

VoodooFan