Tax Tips for Gamblers

Filed in archive Poker News on March 22, 2006

As tax time is less than a month away, many gamblers are scrambling to File their taxes for last year. Should i file as a professional gambler? Can I deduct my travel expenses and my losses against my winnings? These are just some of the questions that must be answered as far as gambling and taxes are concerned. According to Poker News, these are the top 10 tips for gamblers and poker players.
I was personally unaware of #2 "If you have a neteller or similar account with $10,000 or more at any time you must report it to the government." As with all tax matters, you are recommended to discuss your situation with a professional.