Keep in mind $800 donation was send directly to his stake account along with other juicers. But yes, he essentially had $2000 that was all his deposited and used for gambling. Lost it all.
Yes, basically he's getting people to send money to his Stake wallet, which they all count as deposits. They have no way to see if it was Austin or one of his retarded paypigs sending money in.
It's even worse, on one of his streams last night he played a couple of 100 and 200 dollar Keno games. It's completely buck breaking him.
The IRS considers every crypto transaction a taxable event period (buy, sell or simple transfer).
BMJ really is retarded. Said in this stream he has never paid taxes in the 4 years he's been streaming. The thing about taxes is that if you're retarded and "forget or miscalculate", they just work with you on repayment plans. But gross negligence or intentionally not paying taxes is fraud. He's too broke for them to care but one day he's gonna get fined up the ass.
First of all even talking about "illegal" crypto websites doesn't mean you can't be taxed for it. Stake.com may not be regulated and allowed in USA but plenty of Americans play it, you are required to file it on taxes. Gambling isn't illegal just the website is.
Breaking it down into categories:
This is the main one. The thing is he's always earned checks from Twitch and has likely received a 1099 form every year but I can't imagine he made more than $20,000 at any point. It simply wasn't worth the IRS time.
Wow. He is fucked if he is anywhere close to that amount. That seems quite high though, considering we can see how much he has waged on Stake in total. It's something like $500,000 if I remember correctly, and even with Austin being an awful gambler that works out to only a $20,000 loss with an average 4% house edge. Although who knows how much money went to weed or content powder.
It's $500,000 wagered since AUGUST 14. This is his second stakeUS account. He had a sponsorship with punt.com prior, made a second account there after his first got glitched. He then went to stake sometime in July, went back to punt for a couple days before stake offered him a better deal. That wagered amount is only for the past month, he's been gambling since February.
That's how it works with security clearance investigations. The FBI already knows the answer to every question they'll ask during your polygraph, they just need to know what you'll lie about.
Kinda but not really. For most of us who work one job and get a paycheck everything gets sent to IRS anyway. It's not that easy for them to keep track of 130 million tax payers, they are already underfunded. Those who are self employed like BMJ should always work with actual accountants because tax law gets very complicated, especially when you work with crypto.
Geez, he is fucked. Thanks for clarifying that, I didn't realize that his Stake account was so new. That means he burned through at least $20,000 in a month, all of that taxable. Your $250k estimate makes a lot more sense now.
Damn he is easily into the six figures of income then, just with that and his current Stake account. He will owe the IRS at least $20k or $30k from what you documented above.
Not sure his daily counts if he never withdraws it. He isn't getting "paid" 200 a day, he's getting 200 dollars worth of Stakes tokens which can be redeemed for crypto. I'm no Tax Guy, but I don't think that would count as income if he just loses it gambling without withdrawing it.
