I have been doing very well the past 6 months in a few specific casinos. I'm keenly perceptive of the environment and look like the textbook "dumb girl" so I don't have many problems with pit bosses and floor managers. However, its only logical that sooner or later they will see that I don't leave their fine establishment down any money. I do all the right things: flirt, look unfocused at the table, occasionally place a large bet when the count is neutral, cash chips in in groups not large enough to cause them to ask for my player card(that happened once before I figured out to split my winnings), and yes, I do have a friend's card to use but have been called on that once already. Sooner or later they are going to catch on right? Someone's monitoring all that player info, analyzing the data, and learning who loses/wins the most right? To add to it, one of my favored places does the whole chip-tracking-in-the-table thing. Am I just being paranoid? If not, how long do I have before these places are not an option for me?
Next question, and this one is the million dollar one. I am familiar with tax law and would never pose a threat to myself by not paying taxes BUT is there an amount I can win at a table at one time that will cause me to have to fill out paperwork? If so, what it is? What about over time, will there come a day that they walk up to me and say "Ms. Dalton, according to our records you've won $XXXXX in this casino and we need you to fill out a form for that."? And if so what is that form, is it the IRS Form 103 or is it something else? I have recently met some people who have told me horror stories of how they were asked to fill out paperwork for LOSING more than ten thousand dollars(unfortunately I do not know them well enough to ask them specific details about their form-signing in casinos). Would similar paperwork be necessary for a win of similar amounts?
And here is the question I’d like to know the answer to most, I have researched enough thus far to have discovered the Form 103/Form 103N but I’d like to know if the form is used for $10,000 in money changed one way(either won or lost) or is it used whenever that much is changed in a day(maybe cashing in $4,000 and changing $6,500 of chip back into cash)?
I know that accounting is all about putting the right transactions into the right time periods but that leads to another question: Since the verbage on the instructions for Form 103 says in one business day, when do casinos usually start their business day for accounting purposes? Is it different for different casinos?
I know you are busy and I know I've overloaded you but I have one last question. I will be in Las Vegas soon and would love your opinion on the places on the strip and in the old downtown as to where the best single deck and double deck games are?
Next question, and this one is the million dollar one. I am familiar with tax law and would never pose a threat to myself by not paying taxes BUT is there an amount I can win at a table at one time that will cause me to have to fill out paperwork? If so, what it is? What about over time, will there come a day that they walk up to me and say "Ms. Dalton, according to our records you've won $XXXXX in this casino and we need you to fill out a form for that."? And if so what is that form, is it the IRS Form 103 or is it something else? I have recently met some people who have told me horror stories of how they were asked to fill out paperwork for LOSING more than ten thousand dollars(unfortunately I do not know them well enough to ask them specific details about their form-signing in casinos). Would similar paperwork be necessary for a win of similar amounts?
And here is the question I’d like to know the answer to most, I have researched enough thus far to have discovered the Form 103/Form 103N but I’d like to know if the form is used for $10,000 in money changed one way(either won or lost) or is it used whenever that much is changed in a day(maybe cashing in $4,000 and changing $6,500 of chip back into cash)?
I know that accounting is all about putting the right transactions into the right time periods but that leads to another question: Since the verbage on the instructions for Form 103 says in one business day, when do casinos usually start their business day for accounting purposes? Is it different for different casinos?
I know you are busy and I know I've overloaded you but I have one last question. I will be in Las Vegas soon and would love your opinion on the places on the strip and in the old downtown as to where the best single deck and double deck games are?
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