CTP

FEBRUARY 29, 2024

American gaming has boomed since sports betting and online gambling were legalized. Complex tax laws for filing and deducting gambling winnings and losses provide new hurdles for taxpayers. Without knowing that information, you can’t serve your client the legal help required to avoid paying IRS tax debts.

Gambling 105

Gambling Tax Account accountant 105

CPA Practice

JANUARY 10, 2024

The legalization of sports betting and online gambling has led to an explosion in gaming across America. With millions trying their luck, complex tax rules for reporting and deducting gambling winnings and losses present new challenges for taxpayers. Most importantly, it avoids any impact on adjusted gross income (AGI).

Gambling 80

Gambling Tax Account accountant 80

CPA Practice

JUNE 15, 2023

The Tax Blotter is a round-up of recent tax news. Taxpayers can claim a limited deduction for gambling losses, but the IRS keeps close tabs on these write-offs. Gambling losses are deductible only up to the amount of you winnings for the year. In a new case, a taxpayer gambled extensively at three casinos in 2019.

Gambling 52

Gambling Tax Nevada audit 52

SkagitCountyTaxServices

FEBRUARY 4, 2021

So, to that end, I’m here today with a large tax checklist that you can work from for your personal income taxes , understanding that every situation is a little different. A Checklist For Skagit County Business Owners’ For 2020 Personal Income Taxes “Don’t wait. So … here we go.

income tax 53

income tax Tax Real Estate tax return 53

Anders CPA

MAY 24, 2022

This bill would establish the State and Local Tax (SALT) Parity Act allowing partners and shareholders in flow-through entities to take full advantage of federal tax deductions and allowing credit for taxes paid in other states.

Missouri 98

Missouri Tax income tax Gambling 98

Going Concern

JANUARY 19, 2023

The IRS Criminal Investigation unit has released its top cases for 2022 and in it we get reality TV personalities, a rogue tax preparer, some garden variety PPP fraud, and even a former decathlete with his own Wikipedia page. Burnell did not report any of the money he received from victims in 2011 or 2012 on his income tax returns.

Tax 62

Tax tax return Gambling tax preparation 62

ThomsonReuters

FEBRUARY 6, 2024

Types of indirect tax The value of indirect tax to tax professionals Differences between direct and indirect tax Tax planning and management is one of the primary areas accountants help their clients. Taxes are either direct tax or indirect tax.

Tax 52

Tax income tax Manufacturing corporation tax 52