CPA Practice
FEBRUARY 9, 2024
However, if you are among the 68 million people expected to place bets on the big game, you need to know that taxes are part of the equation. So, as we start tax season, here’s what you need to know about what your Super Bowl bet has to do with your tax return. And income from gambling winnings is taxable.
PYMNTS
MAY 6, 2020
The COVID-19 pandemic has had a noted effect on how several industries can operate and interact with their customers during this time including retail stores, movie theaters and casinos. The year 2020 was already set up to be an interesting year for digital gambling, with states opening increased access to online casinos and sportsbooks.
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PYMNTS
MAY 8, 2020
consumers more frugal, but other individuals are still turning to retail therapy to cope with stresses. Online gambling or gaming is one possible outlet, and the sector may even make it through the pandemic with less financial damage than other industries. Online Gambling Changes . Shopping on mobile devices has increased 7.7
Withum
FEBRUARY 27, 2024
When it comes to sports betting, taxes play a crucial role in shaping the industry. Each state has its own approach to taxing sports betting revenue for operators, resulting in a diverse landscape. The state levies a tax rate of 36% on sports betting revenue. billion since legalization in January 2022.
PYMNTS
JUNE 5, 2019
Cards (as in prepaid, stored-value cards that consumers can use for gambling, payroll and a variety of other uses, many of them novel) are only half the battle. Placing A Bet On Online Gambling. The rise of online and mobile (legal) gambling is providing benefits to reloadable and store-value cards, and driving innovation.
PYMNTS
MARCH 22, 2020
With the closure of nearly all casinos nationwide, the online gambling trade group iDevelopment & Economic Association (iDEA) is asking states to free up restrictions so casinos can replace some revenue lost from shutting doors — and help refill state tax coffers, The Wall Street Journal reported.
CPA Practice
APRIL 4, 2024
of embezzling money invested by a business partner into a company they set up to buy Texas properties sold at auctions due to unpaid taxes. The company was to serve as a real estate joint venture between the two to invest in Texas properties that were being sold at public auctions due to unpaid taxes.
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