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[QUOTE="thetaxman1, post: 1025397, member: 47605"]
As a tax Preperation professional you may want to consider the tax consequences of professional poker play.  I have no professional clients but you would need to consider the consequences of profession vs hobby.  As a profession your wins are netted against your losses and you would pay tax on differnce income tax and self employment taxes.  Of course you can deduct any expenses associated with making those incomes.  As  a hobby your income is taxed at your top marginal tax rate and your losses are deductable on itemized deductions to the extent of your winnings.  
 
It has been a while since i have looked into professional gambling but i beleive you need a federal liscense to be considered a pro gambler for tax purposes so irs nails you for your wins but may limit the losses deductable.  
 
I am suprised that there is not withholding and other tax tracking going on at these sites.  I generally report on my tax return any winnings I actually bank leaving everything else at the sites i play or the clearing account that i use to transfer money.  Technically that clearing account should be considered income but i am going to chance it.   
 
Talk to your CPA before you make a decision to quit your job.
 
As a pro your expenses to travel and play in tourneys would be deductable business expense as a hobby they would not.
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