Bradford Tax Institute

Blog

  • Home
    • About the Publisher
    • About the Site
  • Resources
    • Free Newsletter
    • New Articles
    • Webinars
    • Tax Courses
  • Contact
  • Search

Odds Are the Tax Law Doesn’t Consider You a Professional Gambler

January 16, 2024

“Odds Are the Tax Law Doesn’t
Consider You a Professional Gambler”

To get my complete, FREE article
with all the details…

Here’s a fact that many people don’t know…

Tax law treats gamblers unfairly.

Although not a buddy of the professional gambler, tax law does treat the professional far better than the recreational gambler.

The professional gambler is in the business of gambling. But tax law doesn’t give the professional gambler regular business treatment.

Instead, the law allows the pro special breaks.

Here’s what it takes to become
a professional gambler

You must meet two separate requirements to achieve professional gambler status:

  • Your gambling activities must be continuous and regular.
  • You must gamble primarily to earn a profit.

Five tips to prove you’re a professional gambler.

You keep good business records

Keep a separate checking account

You create a business plan

You get expertise

You change strategies

Want to find out more before you start betting?

CLICK HERE to read my completely new article titled:

“Odds Are the Tax Law Doesn’t
Consider You a Professional Gambler”

Filed Under: Filing tips, Gambling, Legislation, Losses, Tax Planning, Tax Policy

Test It Out

If you are not yet a subscriber, CLICK HERE. You’ll get a no-obligation 7-day FREE trial during which you can read, not only the article above, but all of our helpful tax-saving tips. This trial is absolutely free, you don't need a credit card, and there are no strings attached. That’s a personal promise.

Free Ezine

Email:

Are you a tax professional (CPA, EA, tax lawyer, tax preparer)?
   

For Tax Professionals

Learn how the Bradford Tax Institute can help you as a tax professional help your one-owner clients pocket more after-tax money and become raving fans.

Learn More »

For One-Owner Businesses

If you or you and your spouse own the business and you are looking for tax benefits, learn how we can help you keep more of hard-earned money and give less to the IRS.

Learn More »

Articles by Category

Bradford Tax Institute Blog

Operations

1050 Northgate Drive, Suite 351
San Rafael, CA 94903
E-Mail: contactus@bradfordtaxinstitute.com
Telephone: (415) 446-4340
Fax: (415) 446-0127

Editorial

1701 Pennsylvania Avenue, N.W., Suite 300
Washington, DC 20006
E-Mail: contactus@bradfordtaxinstitute.com
Telephone (202) 652-2293
Fax (202) 580-6559

Copyright © 2015 BradfordTaxInstitute.com