1 definition by baby shanks777
A "Ten Percenter" is a frequent patron of casinos and horse/dog racing tracks who will cash your winnings
(if over the $600 taxable limit) for you, putting himself down as the winner, then paying you.
For this service, the Ten Percenter charges you 10%.
That way, you do not have to report the winnings.
This practice is illegal, but it happens. If you are
"connected", you will know who the Ten Percenters are.
(if over the $600 taxable limit) for you, putting himself down as the winner, then paying you.
For this service, the Ten Percenter charges you 10%.
That way, you do not have to report the winnings.
This practice is illegal, but it happens. If you are
"connected", you will know who the Ten Percenters are.
Mikey: "I just won 5 g's on the 10 horse !"
Bob: "what's that after taxes ?"
Mikey: "taxes ? I'll giv it to Vin.
He's the Ten Percenter in this joint."
Bob: "what's that after taxes ?"
Mikey: "taxes ? I'll giv it to Vin.
He's the Ten Percenter in this joint."
by baby shanks777 March 7, 2011