Taxes

[supercoolmancool]

Do all you guys pay taxes or is there some good precautions you can take?

[zengrifter]

..."Don't ask, don't tell!" zg

[ScottH]

Originally Posted by supercoolmancool

Do all you guys pay taxes or is there some good precautions you can take?

Well, you are SUPPOSED to pay taxes on any gambling winnings. Whether or not people actually do is another story...

[Mikeaber]

Originally Posted by ScottH

Well, you are SUPPOSED to pay taxes on any gambling winnings. Whether or not people actually do is another story...

If I ever had any winnings, I'd claim them! That's my story, and I'm stickin' with it!

[tedloc]

Originally Posted by zengrifter

..."Don't ask, don't tell!" zg

Remember, you pay your taxes at the end of the year. In theory, if you come out a winner for the year, you claim your winnings. How many can make that claim? In any casino, you may have to go to the IRS window, to fill out documentation if you win a Jackpot or Horse Race bet, that pays more than 300 to one for a total of at least $600. If you bet $5000 a hand and get a BJ and win $7500, no such documentation is needed as you didn't get paid more than 300 to 1