How to Avoid Online, Internet and Sports Gambling Tax

So you won some money at gambling, and you want to know if you have to pay the Government, income taxes on your winnings. Well, the short answer to that is yes, but there are some exceptions to the rule.If you had gambling winnings you’re required to report them as other income on IRS Form 1040. The tax rate for online, internet and sports gambling winnings is the same as your regular income.If you had gambling losses you are allowed to deduct what you lost, up to the amount that you’ve won. You are not allowed to deduct gambling losses that exceed your winnings, and you are not allowed to carry-over your losses from one year to another.A Form W-2G is used to report gambling winnings from, internet, online, casino, sports betting, horse racing, lotteries, bingo and other legal gambling activities.You’ll receive a Form W-2G if:
Income taxes were withheld from your winnings
You won at least $600 or more and your winnings were at least 300 times the amount of your bet
Your winnings were from a slot machine or bingo in the amount of $1200 or more
Your winnings were from keno in the amount of $1500 or more.
How to deduct your losses from your winningsIn order to avoid paying gambling tax you’ll need to itemize your losses on Schedule A tax form (itemized deductions). As with most itemized deductions you are required to keep a record of gambling winnings and losses. You should keep the date, time, type, place, tickets, receipts and any other records you have as proof.By keeping accurate records of your online, internet and casino gambling you can pay less tax when you win. When you pay less gambling tax, you win again!

Wooden Board Games – Top 3 Best Sellers

The three best sellers according to records reported by a section of the online business community were1. Shove Halfpenny.Shove halfpenny is a wooden board game that has been a popular pastime for centuries. In medieval England it was such a popular gambling game that the board had to be kept in a room at the back of the Inn so that only trustworthy customers could play. King Henry the VIII of England was a regular player, and history records that even he had to lay out significant sums of money to courtiers who had the skill (and no small amount of courage) to beat him.2. Backgammon.Backgammon has been played by Ancient Civilisations, including the Egyptians and can be dated back to 3000BC. Many civilisations had games that would combine the use of dice and markers to play territorial “war” games where opponents were able to develop strategies of defence and attack. However, by the 18th Century it became very popular among English clergy.3. Chess.Chess dates back to 2000BC in India and Persia and was known as chaturanga. The original Chess Pieces were of carved Horses, Chariots, Elephants and Infantry Soldiers. Chess as we now know it came in to being about 2000 years ago.Throughout history some form of board game has been played as a leisure pastime by most civilised societies. Some were even being played before the civilisation had developed their literacy skills. The same basic concepts exist today and many of the ancient board games have transformed into the ones that we play today.Wood as a material was abundant in most regions and was commonly used as a material of choice and has the benefit of great longevity and style.Many of these traditional wooden board games are seeing a revival in popularity today due to the keenness of parents to provide an alternative to electronic games.

Texas Hold Em Poker Tips – Feeling the Game When Betting

Read these Texas Hold Em Poker tips on how important it is to get a feeling for the for game when you’re betting.To be able to bet properly – the right amount at the right time – you need to have a good feeling for the game. When playing Texas Hold Em Poker, making a crucial bet tips the game in your favour. You need to get the most things working for you as possible if you are ever going to make it in ruthless No Limit Hold Em.Texas Hold Em Poker Tips – How To Make Sure The Time Is Right For The Perfect BetYou starting hands, bets, style of play and grasp of the other players style of play and possible hands all need to line up together in order for you to make huge leaps and bounds and grow your stack into a monster.At certain times in the game, the last thing you want is for your opponent to call your bet. Think of an extreme example, like your completely bluffing 7-3 because you’ve lulled your opponent into thinking you are tight and only play premium cards.In this instance you absolutely do not want your opponent to call your bet so you need to bet a large enough amount that he won’t possibly consider it. The aim is to force them to fold and you seriously want to, need to, achieve this sometimes.Texas Hold Em Poker Tips – Tricking Opponents With Crafty BetsIn a different situation say, you definitely do want your opponents to bet. Maybe you’ve been playing very loose and raising almost every pot. Then you hit those great pocket kings, so you really want your opponents to call you.You’re sure you’ve got the best hand and you are keen to increase the size of the pot that is most surely yours. You want to get the most value out of your hand as you possible can. You’ll need to bet an amount of money that, at least you think, is modest enough that most of the other players will call you. Then you can earn a little extra on that hand.Betting decisions are complex and there is no end to having to deal with these when playing No Limit Hold Em. The crux of the game, that you can bet up to no limit, means that practice and experience in betting are crucial.Any amount you bet likely tips the game in another direction and this is what makes it so crucial to the overall game. Like anything, you need to get a good amount of experience in order to be able to best determine the amount you should bet in a given situation.


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