Description
Book Synopsis: Everything You Need to Know About Gambling and Taxes
The complete tax implications of winning and losing at gambling are pretty much a mystery to accountants, gamblers, and even the Internal Revenue Service itself. The IRS offers surprisingly few details to guide gamblers through the tax maze. Furthermore, what the IRS does say is often general, vague, open to individual interpretation, and contradictory; IRS publications and personnel often leave you with more questions than answers.
Tax Help for Gamblers deals with the innumerable nuances and gray areas of gambling and taxes, including changes implemented in the Tax Cuts and Jobs Act of 2017. It covers all the whys and wherefores of this complex subject, such as tax-code specifics, record-keeping, filing your tax return, state-tax considerations, audits, and other tax problems–often citing relevant court cases to serve as a foundation for your conclusions. Numerous charts and forms help you with the practical application of the information.
This book is for recreational and professional gamblers, low and high rollers, and machine and table-game players. It's applicable to casino, online, international, and cruise-ship gambling; video poker; live poker; and daily fantasy sports.
Do you know the answers to these questions: When must you show official ID in a casino? When must you show your Social Security card in a casino? How should you report the W-2Gs and 1099s a casino issues you? Do you need a gambling diary if you have win/loss statements from all the casinos where you’ve played? Are you safe from an IRS audit if you’ve received no paperwork from a casino? Must you account for gambling wins on your tax return if you’re a net loser for the year? Can you get a refund for taxes withheld from a jackpot hit in a state in which you aren’t a resident? If you don’t know, you should. And you will by the time you’re finished with Tax Help for Gamblers, now in its fourth edition.
Whether you're a do-it-yourself tax filer or you use a tax professional, Tax Help for Gamblers is an indispensable guide to staying on the right side of the taxman.
Details
Are you a gambler who's tired of dealing with the uncertainty and confusion of tax implications on your winnings and losses? Look no further than Tax Help for Gamblers: Poker & Other Casino Games 4th Edition! This comprehensive guide is your key to understanding everything you need to know about gambling and taxes. With the recent changes in tax laws, staying informed is more crucial than ever. Let this book be your ultimate resource in navigating the complex world of gambling and taxes.
Don't leave your tax situation up to chance – take control with Tax Help for Gamblers. From filing your tax return to understanding state-tax considerations, this book covers it all. Packed with practical advice, relevant court cases, and helpful forms, you'll be equipped to confidently address any tax issues that come your way. Whether you're a casual player or a seasoned pro, this book caters to gamblers of all levels and types, ensuring that you stay compliant and informed.
Do you find yourself with unanswered questions when it comes to reporting your gambling winnings and losses? Tax Help for Gamblers has the answers you need. Discover when you need official ID in a casino, how to handle W-2Gs and 1099s, and more. This book is your ticket to a stress-free tax season and peace of mind when it comes to your gambling activities. Don't let the IRS leave you in the dark – empower yourself with the knowledge found in this fourth edition guide.
Ready to tackle your tax responsibilities head-on? Take the first step towards financial clarity and order Tax Help for Gamblers: Poker & Other Casino Games 4th Edition today. Arm yourself with the knowledge and tools needed to navigate the complex world of gambling and taxes, and ensure that you're on the right side of the taxman. Let this book be your trusted companion in safeguarding your financial well-being.
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