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. Definitions of gambler categories Gambling winnings are reported differently based on the different categories.

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. Gambling losses can be deducted above the line as business expenses.

Gambling 80

Gambling Tax Account accountant 80

PYMNTS

FEBRUARY 4, 2020

The legalization of sports gambling requires an important policy choice, but the choice is not ours to make,” Justice Samuel Alito wrote in the 6-3 opinion. Congress can regulate sports gambling directly, but if it elects not to do so, each state is free to act on its own.”. But I knew weather and sports,” Roth noted.

Gaming 53

Gaming Gambling Sports Rhode Island 53

PYMNTS

AUGUST 24, 2018

A few years ago, for example, Scientific Games Corporation and InComm released North America’s first lottery retail gift cards. Pat McHugh, senior vice president of North American lottery systems at Scientific Games, said at the time that the gift cards will add a degree of flexibility to an already popular market. “Any

Ohio 41

Ohio Gambling South Carolina Connecticut 41

PYMNTS

SEPTEMBER 11, 2018

Reports out of the Bluegrass State say Damon Thayer , the Republican who serves as majority floor leader for the Kentucky State Senate, anticipates that lawmakers from both parties want to introduce pro-gambling legislation during the 30-day legislative session that starts January 8, 2019. “I

Sports 40

Sports West Virginia Kentucky Rhode Island 40