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Gambling Tax Consulting Washington DC

This page provides useful content and local businesses that can help with your search for Gambling Tax Consulting. You will find helpful, informative articles about Gambling Tax Consulting, including "Taxes on Gambling". You will also find local businesses that provide the products or services that you are looking for. Please scroll down to find the local resources in Washington, DC that will answer all of your questions about Gambling Tax Consulting.

Wilson Gray Barmeyer
(202) 383-0824
1275 Pennsylvania Ave., Nw
Washington, DC
Specialties
Litigation, Class Action, Tax
Education
University of Georgia
State Licensing
Georgia

Nicole M Bielawski
1090 K Street Northwest
Washington, DC
Specialties
Tax
Education
Harvard University Law School,Albion College
State Licensing
DC

Douglas S Pelley
(202) 942-5423
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Tax, Estate Planning, Workers Compensation, Employee Benefits, Employment
Education
Cornell Law School,Atlantic Union College
State Licensing
DC

Natalie Mclean Leino
(202) 778-5427
1201 Pennsylvania Ave Nw
Washington, DC
Specialties
Tax, Litigation, Insurance
State Licensing
DC

Heather L Vinhateiro
(202) 862-2292
1201 F Street, N.W.
Washington, DC
Specialties
Tax
Education
Catholic University of America, School of Law,New York University School of Law,Stonehill College
State Licensing
DC

Jean C Blackerby
(202) 637-5834
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Business, Financial Markets And Services, Tax, Corporate, Investment Fraud
Education
Vanderbilt University Law School,Dartmouth College
State Licensing
DC

Bruce E. Gardner
(202) 271-0552
Ste 600, 1101 Pennsylvania Ave Nw
Washington, DC
Specialties
Tax
Education
Syracuse University
State Licensing
DC, Texas

James P Joseph
1001 PENNSYLVANIA AVE NW OFFICE BLDG
WASHINGTON, DC
Specialties
Tax, Estate Planning, Election Campaign, Government
Education
Georgetown University Law Center,Georgetown University
State Licensing
DC

Akemi Kawano
(202) 756-5588
950 F ST NW
WASHINGTON, DC
Specialties
Tax
Education
Manhattan School of Music,The Julliard School,The Julliard Schoo,George Washington University
State Licensing
DC

Jeffrey A Friedman
(202) 383-0718
1275 Pennsylvania Avenue Nw
Washington, DC
Specialties
Tax, Business, Litigation
State Licensing
DC

Taxes on Gambling

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Taxes on Gambling

Gambling is one of the most popular activities in the United States. Unfortunately, you have to pay taxes on gambling winnings.

Before we get into taxes, we need to discuss how the IRS defines gambling. Generally, the IRS wants you to pay taxes on anything you win that has monetary value. Obviously, this includes the slot machines in Las Vegas, winnings at Indian Casinos, your haul from the horse races and so on. Many people, however, fail to realize gambling winnings also include things such as winning trips, tickets or the lotto. [I would just like to say that I am more than willing to pay the taxes associated with winning the lotto. Guess I have to play!] Put in simple terms, you've got to pay if you win it.

When preparing your tax return, the total gambling winnings for the year are reported on line 21 of Form 1040. You can deduct your gambling losses on line 27, but only if you itemize deductions. Unfortunately, you can only claim a deduction up to the amount you one, i.e., you can't claim a gambling loss on your taxes. If you use one of the other 1040 forms, you'll have to read the instructions to find the correct lines.

Taxes on gambling seem like a truly unfair concept. Fail to pay them, however, and the IRS will make sure your luck runs out.

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