If you've ever dreamed of playing poker professionally, new tax rules might make you rethink that career path. What was once a high-stakes, high-reward profession is now facing financial pressures that could push many players out of the game.
Professional poker players are facing a new tax landscape, particularly in the US, making their careers significantly less profitable.
Recent changes and stricter interpretations of existing tax laws mean that many players can no longer deduct business expenses against their winnings, leading to a much higher effective tax rate on their income.