Playing Games of Craps at Digital Casino Sites

A lot of individuals out there have an appreciation for gaming, but up until the last few years, it has always been a huge hassle for many to want to pile in the vehicle and drive to the closest gambling casino, which may be located several hundred miles out. With this in mind, even those dedicated people who enjoy gambling a lot wind up only doing it once every couple of years.Welcome to the modern times. It appears cyberspace has altered this whole process. Internet casinos are nothing short of a industry-changing concept to the domain of gambling, placing bets, and playing games. Now you can compete blackjack against actual people across the world, and what’s even better is how you can do that in your sleep clothes at 1 o’clock in the morning!It started out as only a enjoyable way to play a multiplayer game online, but anymore, a handfull of online casinos in reality allow you to place real wagers! This hands you all the rush of playing gambling casino games right on your own computer. You could possibly even go to the e-casino every single day if you so desired!No matter what you’re into, you can be guaranteed that there is a place that offers it somewhere out there. That’s the reward to there being so many gambling sites on the net: If you get sick of one online casino, you can just move on to the next one!Getting started is as uncomplicated as stumbling upon a place you like and signing up for it. Some places may require a activation fee, while others simply make their money by taking a percentage of the payment. Either way, an internet gambling site’s reduced operating expense makes it a great option for gratifying the risk taker in all of us.

All In Against the IRS: Every Gambler’s Tax Guide by Attorney and Tax Professional Stephen Fishman

I am not really a gambler, and while I provided basic tax information to clients that I helped with business matters, I’m not a tax attorney, and therefore referred my clients to tax professionals for their tax needs. With that said, I enjoyed reading “All In Against the IRS: Every Gambler’s Tax Guide” by attorney and tax professional Stephen Fishman, J.D. The book is short, very readable, and believe it or not, very interesting, even though the subject is one that most people would consider boring – taxes.One of the things that made it interesting, as well as readable for anyone, not just those of us with J.D. or CPA behind our names, is the fact that Fishman wrote the book in plain, easy-to-understand, language, and with a more conversational tone, rather than a boring tax guide. He starts the book with a short chapter on the rules of the game, and his first rule states that gamblers are not treated fairly by the IRS, he suggest that it is perhaps because gambling is viewed as sinful, but regardless of why, gamblers are treated very harshly by the tax laws. If you are a gambler, or if you assist gamblers with their taxes, this is a very valuable book. (Then you might just be strange like me and find reading about the way the IRS treats some categories as interesting.)After his ten short rules of the game, chapter two discusses what the IRS knows and when it knows it. This chapter covers things such as Forms W2-G, 1099-MISC, and Form 5754. What you need to know is that certain winnings are reported to the IRS. Fishman explains what they are. In the third chapter he explains how and when taxes are withheld from your winnings.Chapter four is where the book became more interesting in how the IRS wants you to determine your annual wins and losses. You can’t just come to tax time and say, “Well, I won about 10,000 last year, but I lost more than that, so I don’t have to do anything.” That’s not how the IRS makes you report things, and if you get caught not reporting the correct way, it can cost you.Fishman shows you how to document your wins and losses in chapter five, and then how to report them on your tax return in chapter six. He then address state income taxes in chapter seven. Up to this point, everything was aimed at casual or recreational gamblers. In chapter eight, the author shows what it takes to qualify as a professional gambler, and how the tax laws are different if you actually qualify per IRS guidelines for this status. The book concludes with a sample gambling log in an Appendix.After reading this book, I bet (pun intended) that most people who gamble are not reporting as required by the IRS. Reading this book will enlighten you on what the IRS wants and requires to keep you out of hot water if they ever come looking. Fishman also points out when they look more and when they don’t. I also like that he included that the IRS wants you to report illegal gambling winnings and they won’t turn you over to law enforcement authorities for illegal gambling, they just want their cut. Hmm, I’d still want to think that one over, but remember how Al Capone was finally put in prison.As with any legal book, laws change, and that goes for tax laws too. The laws in this book are current and accurate right now, because Fishman just wrote it, however, they could change. So I always encourage people to use books like this as guides, but check to make sure the laws are still accurate, or work with a tax professional who keeps up with the changes. The book does provide places to go check laws, and the author also recommends working with a tax professional for certain circumstances. If you are a gambler, or assist gamblers with taxes, this is a very good guide, that is simple to read, outlining what the IRS wants and requires when doing your taxes. It provides the information the author says it will, and it really is every gambler’s tax guide.