[PDF] Gambling And Taxes Ii eBook

Author : Jean Scott
Publisher : Huntington Press Inc
Page : 176 pages
File Size : 24,29 MB
Release : 2021-07-23
Category : Games & Activities
ISBN : 0929712536

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This book deals with the innumerable nuances and grey areas of gambling and taxes. It covers all the why's and wherefores of this complex subject, including tax-code specifics, record-keeping, filing your tax return, state-tax considerations, audits and other tax problems-often citing relevant court cases to help you come to the proper conclusions. Numerous charts and forms help you see the practical application of the information. The book is for recreational and professional gamblers, including low and high rollers, machine and table-game players, and video poker, live poker, online, international, and cruise ship players.

Author : Stephen Fishman, J. D.
Publisher :
Page : 150 pages
File Size : 50,15 MB
Release : 2014-02-01
Category : Business & Economics
ISBN : 9780983290711

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Completely updated for 2014-2015, this easy-to-read up-to-date guide explains everything gamblers need to know about taxes, including: How gambling winnings are taxed; When winnings are reported to the IRS by casinos; When and how much tax is withheld from gambling winnings; How to report winnings and document losses; The myths and realities of taxation of internet gambling; Completing a tax return when you have gambling winnings; State income taxes on gambling; and How to qualify as a professional gambler. The information in this book applies to all forms of gambling, including: slots, blackjack, craps, roulette, internet poker, poker tournaments, horce racing, keno, lotteries, bingo, raffles, sweepstakes, and sports betting.

Author : Walter L. Lewis
Publisher : Lyle Stuart
Page : 180 pages
File Size : 40,96 MB
Release : 2003
Category : Business & Economics
ISBN : 9780818406324

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Want a sure bet to increase your winnings or take some of the sting out of a losing streak? Just as smart gamblers know how to sweeten the odds in their favor, the proven financial strategies discussed in this important and easy-to-follow book can increase anyone's chances of a better bottom line at tax time. Walter L. Lewis is a Certified Public Accountant with years of experience successfully navigating the confusing jumble of IRS tax laws, and his simple, step-by-step guide is designed to help every gambler minimize the tax penalties of both winning and losing. This advice isn't just for players of blackjack, craps, and other casino games; the information is equally valuable for anyone betting on the ponies, bingo -- even sweepstakes and lotteries. And remember, even if you've lost money, the tax implications can be serious. So make the smart bet ... get the facts and be a winner at tax time! Book jacket.

Author : Stephen Fishman, J. D.
Publisher :
Page : 160 pages
File Size : 11,19 MB
Release : 2011-02-01
Category : Business & Economics
ISBN : 9780983290704

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An easy-to-read guide that explains everything gamblers need to know about taxes, including: how gambling winnings are taxed when winnings are reported to the IRS by casinos when and how much tax is withheld from gambling winnings how to report winnings and document your losses the myths and realities of taxation of internet gambling completing a tax return for gambling winnings state income taxes on gambling, and how to qualify as a professional gambler. The information in this book applies to all forms of gambling, including: slots, blackjack, craps, roulette, nternet poker, poker tournaments, horce racing, keno, lotteries, bingo, raffles, sweepstakes, and sports betting.

Author : Walter L. Lewis
Publisher : Impulse Pub
Page : 106 pages
File Size : 35,28 MB
Release : 1998-01-01
Category : Games
ISBN : 9780965571616

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-- Specific ways to reduce the time spent and fees paid to the preparer. -- How to determine what is and is not an allowable gaming deduction. -- Valuable insights into how the IRS views gaming activity. -- How to document gaming activities and how to report it to the IRS. -- Answers to fifteen of the most frequently asked questions about gambling and taxes. -- A comprehensive index designed to quickly find the solution to special needs.

Author : Karl Whelan
Publisher :
Page : 0 pages
File Size : 36,9 MB
Release : 2022
Category : Gambling
ISBN :

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Sports betting is growing rapidly in the US after its legalization by the Supreme Court in 2018. This paper describes the treatment of gambling winnings and losses in the federal tax code and shows how the system may incentivize some gamblers to substantially increase the scale of their betting in order to have a chance to win. This incentive stems from the fact that gambling losses can only be deducted if taxpayers are filing for itemized deductions, meaning the scale of gambling losses has to be large enough to push a taxpayer's eligible deductions over the standard deduction. This incentive to engage in large-scale betting applies mostly to lower and middle-income households.