Whether you roll the dice, bet on the ponies, play cards or enjoy slot machines, you should know that as a casual gambler, your gambling winnings are fully taxable and must be reported on your income tax return. You can also deduct your gambling losses…but only up to the extent of your winnings.
Here are five important tips about gambling and taxes:
1. Gambling income includes, but is not limited to, winnings from lotteries, raffles, horse races, and casinos. It includes cash winnings and the...
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Hello, my name is Patricia McMahon. I am the owner of McMahon Bookkeeping Services.
With 25 years of administrative, and bookkeeping skills, I have earned my experience with working with small business to large Corporations such as IBM. I started my Bookkeeping business in April of 2005.
It has been an honor to help service other business owners with their bookkeeping needs. Knowing that my service helps other business owners keep their business running efficiently, gives me a lot of pride. I look forward to my work every day, and meeting more professionals to work with.
I am also a mother of a beautiful 9 year old daughter.
