Much of the information in the last edition of Tax Help for Gamblers is still valid, but tax issues change regularly. Here are some of the changes and updates handled in this third edition, available exclusively as an e-book.
• Current legality issues for online gambling, including legal state-approved Internet-based casinos
• How to deal with wins from fantasy sports
• A new court ruling allowing professional gamblers to deduct business expenses in excess of wins
• A new procedure for obtaining tax documents (W-2Gs, 1099s, etc.) online
• The imposing of stricter rules on casinos for tracking the source of gamblers' funds
• The ramifications of increased pressure on offshore financial institutions to reveal records of U.S. citizens
• Numerous changes in state income-tax laws and reporting requirements (completely updated listings)
• Examples of Federal 2014 tax forms
• Discussion of recent court cases that support the "session" method of reporting gambling income
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About the Author
Marissa Chien is an Enrolled Agent and the president of her own firm, Advantage Tax Plus, Inc, where she provides tax accounting, financial planning, and wealth management services to her clients. She is a graduate of the University of Michigan and has approximately 300 individual and corporate clients, including Jean Scott and Phil Gordon as well as other poker champions and professional gamblers. She has limited availability for private consultations and can be reached at (702) 207-1040 or .