July 24, 2018 | BY Joshua Bondy
Taxes are not generally at the forefront of people’s minds when entering a casino or a racetrack. However, gambling winnings or losses can carry significant tax implications. Any money you win gambling is considered taxable income by the IRS.
Gambling income has its own set of rules, and is subject to strict recordkeeping requirements.
Here are 4 key tips about gambling and taxes: (more…)
#gambling - income tax - taxes