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Old 12-28-2008, 03:40 AM
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Estimated tax refunds

I'm new to the forum so I apologize if this is in the incorrect section of the site, but I have a question regarding tax refunds resulting from self-employed estimated taxes. I'm in a fairly unique situation, insofar as I play poker professionally for my primary income. This past year was my first year out of college and therefore my first year filing taxes as an independent. My CPA advised that I file as a self-employed gambler, which has me paying quarterly state, federal, and self-employment taxes. Unfortunately, a lifestyle as a professional poker player comes with significant yearly variance of income. Specifically, my income in 2007 was in the low-mid six figures, which, predictably, had me paying large quarterlies for 2008, but 2008 was itself a much less productive year. I recently moved cities and will therefore likely have to change CPAs. Is there anything that I need to know in regard to getting my proper tax refund or will a standard filing job by my CPA be enough?

Sorry if this was a very simple question, I am new to handling my own taxes and am admittedly a bit worried about somehow having large sums of money slip through the cracks due to being ignorant of the taxation system. Thanks for any advice/help that you can give me.



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