The gaming industry is booming. New sports betting parlors and casinos are popping up all over the country, Las Vegas is booming, lotteries and betting parlors are popular, and online...
Posted by Dennis Jao on 07/01/2022
An overviewBefore claiming gambling losses in income taxes, you must declare gambling winnings as income. Here's all you need to know in a nutshell: You can deduct gambling losses...
Posted by Abundant Wealth Planning LLC on 04/30/2022
Whenever you see a dollar from a lottery win, please remember that the IRS has taken its 25%. Up to 13% can be withheld in local and state taxes (depending on where you live). However,...
Posted by Pat Raskob on 09/30/2021
Winning the lottery is a two-way thing. While receiving a massive sum of money might solve your entire financial problems, you might be faced with new opportunities that could leave...
Posted by Tiffany Gaskin on 08/24/2021
Sports betting and gambling is a two-edged sword – fun or depressing depending on your outcome. On top of that, gamblers have to deal with the complication of taxes as Uncle...
Posted by Pat Raskob on 06/06/2021
The legislative arm of the government, known as Congress, is in charge of formulating the Internal Revenue Code (IRC), also known as the tax code. This tax code guides tax collection,...
Posted by Pat Raskob on 05/24/2021
Your 1040sIf your income is over a specific amount, paying the federal income tax is mandatory. You might have to pay income tax in some states as well. The income tax rate is a matter...
Posted by Pat Raskob on 04/30/2021
The tense relationship between the U.S. government and Native American tribes has led to recurring disputes and confusion over tax issues. Native Americans do pay taxes, but some quirks...
Posted by Dennis Jao on 01/14/2021
The gambling industry in America is booming because fresh casinos and sports betting centers are springing up in various parts of the country. People that enjoy gambling know and realize...
Posted by Tiffany Gaskin on 01/06/2021
