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

FEBRUARY 9, 2024

States with legal sports betting Legal sports betting, including online betting, has expanded across the United States in the last few years. Supreme Court decision that allowed states to decide whether to legalize sports betting. And income from gambling winnings is taxable. That’s mainly because of a 2018 U.S.

Gambling 122

Gambling Tax Sports South Carolina 122

inDinero Accounting

OCTOBER 16, 2023

Other reasons include: Prior bankruptcy Negative taxable income Prior violent or financial felony or misdemeanor Certain industries are ineligible for SBA loans as well. Those include: Gambling Real estate Lending institutions “Adult” businesses Non-profits What Documents Do You Need for an SBA Loan?

tax return 95

tax return Real Estate Non-Profits income tax 95

Going Concern

JANUARY 19, 2023

Burnell, instead, spent the money on gambling and luxury items, including private jet trips, designer merchandise and luxury cars. Burnell did not report any of the money he received from victims in 2011 or 2012 on his income tax returns. As part of his sentence, the court also entered an order of forfeiture of nearly 2.82

Tax 62

Tax tax return Gambling tax preparation 62

FraudFiles

JUNE 14, 2021

These cases are quite often tax-related matters, but cases involving white collar crimes and drug trafficking usually include questions about income too. What happens when the government is alleging a defendant earned a certain amount of income from a legal or illegal activity?

forensic accounting 59

forensic accounting accounting and finance Legal income tax 59