Best Methods for Filing Casino Wins and Losses and more Casino Tax Advice

Casino taxes are way more complex than just declaring your W2Gs, especially for serious players. There are various tax advantages by filing a specific way, reporting and tracking methods that can benefit long term, and so much more. Craig Shacklett, CEO of URComped and Trio360, interviews Ray Kondler, Founding and Managing Partner of Kondler and Associates, to learn how casino players can minimize their tax liability from casino winnings, track and report win/loss, the differences in filing as a professional versus amateur, and other interesting topics!

Topics Discussed Include:
– What do high-level players need to think about when filing taxes
– Tax advantages of filing as a professional
– Tax advantages of filing as an amateur
– What is the difference between filing as an amateur vs. professional
– Should retired gamblers file taxes as a professional
– When can you determine how you will file?
– LLCs and S corps benefits
– Status of changes on the amount that triggers a W2 in the casino
– Do table games trigger a tax form
– International casino wins reporting to the IRS
– State requirements for filing casino wins
– Tax implications of cryptocurrency
– The Loophole with cryptocurrency taxes
– Money laundering in casinos
– How “Know Your Customer Restrictions” has impacted money laundering
– The best way to track your casino win/losses for tax filing
– IRS tracking of W2Gs

To learn more about How to Minimize Taxes on Slot Machine Jackpots and more Casino Tax Advice, watch our former interview: https://www.youtube.com/watch?v=1rkWBUOdR-U
Listen to podcast version: https://open.spotify.com/episode/25VqRGHvXOrUmLrcQWQO0s
See more: https://trio360.vip/best-methods-for-filing-casino-wins-and-losses-and-more-casino-tax-advice-video/