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Tax Help for Gamblers

2021-07-23 Games & Activities
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Release : 2021-07-23
Genre : Games & Activities
Kind : eBook
Book Rating : 536/5 ( reviews)

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Book Synopsis Tax Help for Gamblers by : Jean Scott

Download or read book Tax Help for Gamblers written by Jean Scott. This book was released on 2021-07-23. Available in PDF, EPUB and Kindle. Book excerpt: 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.

The Gambler's Guide to Taxes

2003 Business & Economics
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Release : 2003
Genre : Business & Economics
Kind : eBook
Book Rating : 324/5 ( reviews)

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Book Synopsis The Gambler's Guide to Taxes by : Walter L. Lewis

Download or read book The Gambler's Guide to Taxes written by Walter L. Lewis. This book was released on 2003. Available in PDF, EPUB and Kindle. Book excerpt: 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.

All in Against the IRS

2011-02-01 Business & Economics
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Release : 2011-02-01
Genre : Business & Economics
Kind : eBook
Book Rating : 704/5 ( reviews)

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Book Synopsis All in Against the IRS by : Stephen Fishman, J. D.

Download or read book All in Against the IRS written by Stephen Fishman, J. D.. This book was released on 2011-02-01. Available in PDF, EPUB and Kindle. Book excerpt: 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.

All in Agains the IRS

2014-02-01 Business & Economics
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Release : 2014-02-01
Genre : Business & Economics
Kind : eBook
Book Rating : 711/5 ( reviews)

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Book Synopsis All in Agains the IRS by : Stephen Fishman, J. D.

Download or read book All in Agains the IRS written by Stephen Fishman, J. D.. This book was released on 2014-02-01. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Gambling Is My Business: A Financial Organizer for Professional Card Players & Other Gamblers

2012-09-11 Games
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Release : 2012-09-11
Genre : Games
Kind : eBook
Book Rating : 392/5 ( reviews)

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Book Synopsis Gambling Is My Business: A Financial Organizer for Professional Card Players & Other Gamblers by : Kiki Canniff

Download or read book Gambling Is My Business: A Financial Organizer for Professional Card Players & Other Gamblers written by Kiki Canniff. This book was released on 2012-09-11. Available in PDF, EPUB and Kindle. Book excerpt: DON'T GAMBLE WITH THE IRS Gambling Is My Business was written for men and women who are, or want to be, professional gamblers. It will show you how to track gambling income, explains what gamblers can and cannot deduct, and teaches you how to document gambling activities in a manner that will survive an IRS audit. A couple of winning pots taken home from card games with friends, or casual evenings at the casino, does not make you a professional gambler. A professional gambler is operating a business, not just out to win a game or two. And, in an audit, the professional gambler will most likely be asked to prove that their gambling activities qualify as a business. Tracking wins, losses, and expenses on gambling is the same whether you're reporting hobby or business income. It must be done according to IRS rules if you expect to survive a tax audit, and both professional and hobby gamblers will benefit from using this organizer to keep proper records. Maintain this organizer regularly and you should be done in less than 20 minutes each month, and when tax time rolls around it will take you less than an hour to get ready for your tax professional. All of the forms necessary for recordkeeping, as well as preparing annual income and expense figures for tax preparation, and documenting your time spent as a gambler are included. This system requires no special math or bookkeeping skill; the professional gambler simply posts all records into this organizer, which can then be used by his or her tax preparer to produce an audit-proof return.

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