62. Gambling Income & The Tax Implications
Episode Highlights
0:00 - Tax Implications of Gambling Income
8:20 - Tax Tips for Gamblers
Episode Summary
Have you ever hit a jackpot and ended up with less than you expected after taxes? This episode is all about gambling income and the tax implications.
We discuss the crucial yet frequently overlooked aspect of gambling winnings and losses. We'll guide you through everything from 1099 forms handed out by casinos for those wins to deductions for your losses, which are important during tax season.
We see all too often our clients owe unexpected taxes when they have gambling income, which is why this episode will be so helpful!
Remember, a little preparation and awareness can save you from the gamble of an unexpected tax bill.
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