WSOP ME Runner-Up Felix Stephensen to Pay 50%+ Taxes

Here's an interesting article from a Norway English-language news service:

http://www.thelocal.no/20141114/norw...-sum-loses-sum

According to The Local, 2014 World Series of Poker Main Event runner-up Felix Stephensen will have to shell out just over half of the $5,000,000+ prize to pay taxes.

The 50.4% tax rate is due to his "self-employment" as a professional poker player. Although he can claim expenses associated with job to lower that somewhat, it is still likely that the final tax bill will be above $2.5 million.

Would tournament buy ins be considered expenses?

The article quotes Norwiegan business lawyer Trond Erik Andersen who says that "starting fees" can be deducted.

If that's the case then hopefully he can deduct all tournament fees and related expenses in a given fiscal year to at least bring that $2.5m tax-payable amount down some.

I'm sure hes happy about winning it, but OUCH thats quite the rake :O