How to Keep More of What You Win: A Gambler's Guide to Taxes
by Walter L. Lewis
Publisher: Impulse Publishing, Incorporated
ISBN: 0965571610
Many casino players are surprised when they finally hit the big jackpot. Most are even more surprised at tax time when they suddenly find Uncle Sam claiming his share of their winnings.
In How to Keep More of What You Win: A Gambler's Guide to Taxes, CPA Walter L. Lewis tells the story of an unlucky fellow who hits the jackpot on New Years' Eve. This unfortunate fellow has no chance to offset his win because he kept no records of his gambling activities. The federal government allows you to offset gambling wins with your gambling losses providing you have documentation. The book will show you how to determine what is and is not an allowable gaming deduction.
Lewis is one of America's most experienced CPA's with over 25 years experience in tax matters. His book will take you step by step through the procedures for properly keeping track of your gambling activities so you will be ready come tax time. How to Keep More of What You Win answers the most frequently asked questions about Gambling, Taxes and the IRS. He will show you the right way to report winnings and substantiate losses using sample tax forms to illustrate the procedure.
The author also supplies you with sample logs that you can copy and use. There are different ones for Slots, Horse Racing, Bingo and the lottery. If you participate in any gambling activity, you need to read this book. The information will save you money at tax time next year. Make your win more enjoyable by keeping more of it.
Bill Burton, your Guide for Casino Gambling