52 min listen
Russell Fox 8/4/2022
ratings:
Length:
53 minutes
Released:
Aug 4, 2022
Format:
Podcast episode
Description
Our guest this week is tax expert Russell Fox on to talk about tax stuff for gamblers. He provided updates for the latest edition of Tax Help For GamblersWe welcome your questions - send them to us at gamblingwithanedge@gmail.com, or you can find me at @RWM21 on Twitter or https://www.facebook.com/GamblingWithAnEdge.Show Notes[00:00] Introduction of Russel Fox from Clayton Tax Services[00:37] Tax implications of sports betting in different states[03:14] Splitting a large DFS jackpot[04:17] Reporting recreational horse player income[07:40] Shared sports betting at online sites[08:47] FBAR[11:13] Crypto and FBAR[12:15] RV expenses[14:46] Paypal reporting transactions, 1099-K[17:08] Group slot pulls[20:03] W-2 G from a Native American casino[23:23] Gambling partnerships[25:22] Cherokee North Carolina winnings[27:08] https://SouthPointCasino.com[28:00] https://BlackjackApprenticeship.com[28:31] https://VideoPoker.com/gwae[29:21] Withholding SSN on W-2 G[31:40] Tax liability for WSOP Main Event[34:54] Deducting gambling losses[36:29] Filing as a professional for part of the year[37:15] S-corp for professional gamblers[42:12] Frequently overlooked tax deductions[43:15] Constructive receipt[45:00] Taxes and beard accounts[49:56] Recommended: Blood and Treasure by Bob Drury and Tom Clavin, Something Missing by Matthew Dicks, For Good and Evil by Charles AdamsSponsored Links:https://SouthPointCasino.comhttps://BlackjackApprenticeship.comhttps://VideoPoker.com/gwaeGuest Links:Claytontax.comTax Help For Gamblers - https://amzn.to/3P1sSEMRecommended:Blood and Treasure by Bob Drury and Tom Clavin - https://amzn.to/3zWFkkASomething Missing by Matthew Dicks - https://amzn.to/3P1cjsvFor Good and Evil by Charles Adams - https://amzn.to/3zTV5Jc
Released:
Aug 4, 2022
Format:
Podcast episode
Titles in the series (100)
Gambling With an Edge - former surveillance operator - Junior part 2: Our guest this week is a former surveillance operator named Junior. For the last 15 years Junior has worked in surveillance rooms on the Las Vegas strip. This is part 2 of our interview.We welcome your questions - send them to us at gamblingwithane by Gambling With an Edge