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How Much Does the Government Make Off of Gambling?
In the fourth installment of our “Sin Tax” series, we explore the financial implications of gambling on Uncle Sam’s bottom line. It’s no secret that the government makes some income from gambling. But,...
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Cashing Out: Lottery Winnings After Taxes
Last Friday everyone scrambled to get that last mega millions lottery ticket and anxiously awaited the announcement of the biggest jackpot in U.S. lottery history. A record $656 million BIG! That’s...
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America’s Obsession with Fantasy Football [Infographic]
Fantasy sports continues to grow in the United States, with Fantasy Football scoring as the most popular (and obsessive) fantasy sport that people love to play. It has become a billion dollar industry...
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Does March Madness Boost Employee Morale and Productivity [Infographic]?
March marks the countdown to the tax deadline and the long-awaited March Madness office pools. While employers complain that they lose money during the NCAA tournament, employees score on their office...
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Sports Gambling and How Your Winnings are Taxed
You may be headed to the racetrack, casino or to make your sports bet, hoping to win big. But you might be surprised that Uncle Sam has his fingers crossed for your good fortune as well.
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How Are Gambling Winnings Taxed?
Most people don't think about taxes on their way to the casino. But what might seem like nothing more than a fun night in Las Vegas actually carries significant tax consequences if you win. Failure to...
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How Do Game Show Winnings Affect Your Taxes?
Imagine this: you’ve made it to the final showcase of a popular game show. You have just guessed how much a 72” television, a red 2017 Chevrolet Camaro and a week-long trip to Thailand would cost....
View ArticleThe 5 Types of Sports Gamblers [Infographic]
With football season in full swing, fantasy football as well as other sports gambling has been increasing in popularity. Let’s take a look at the 5 types of sports gamblers you’ll meet and what the tax...
View ArticleQuiz: What Kind of Sports Fanatic Are You?
Are you a betting man or woman? Between the MLB World Series, football season in full swing and basketball about to begin, you’re probably putting money on something. Find out just what type of sports...
View ArticleThe Tax Implications if You Bet on the Big Game [Infographic]
The Big Game is coming up soon and wagers are being made on everything from who will make the first touchdown to how many times half-time performers name’s will be heard. But if you win big, just how...
View ArticleWinner Winner Chicken Dinner: Betting & Your Taxes [Infographic]
The Big Game is one of the busiest times of year for gambling in America. Whether you put $20 in the pool at the party, or double down at the Sports Book, there may be some implications for your...
View ArticleMarch Madness: How is the Madness Affecting Your Taxes [Infographic]?
When March comes around, sports enthusiasts everywhere start to watch the top college basketball teams compete against one another from the sweet sixteen, final four to that last game of the March...
View Article3 Tax Reasons for Why You Should Think Twice Before Betting on the Big Game
Are you ready for some football? If so, maybe you’ve been thinking about putting a little money on the game, and if you are, it’s important to know that there may be tax implications. Like other...
View ArticleHere’s How Gambling on College and Professional Sports Affects Your Taxes
Every year, I join a fantasy football league with my friends and every year, I lose. So for me, unfortunately, my limited sports gambling has no impact on my taxes. But if you frequently place bets on...
View ArticleHow Much Your March Madness Bracket Will Cost You at Tax Time
Last year, ESPN estimated that March Madness bets would total to the whopping amount of about $10 billion. That’s real money, and real money comes with real tax implications. How much your March...
View ArticleThere’s Madness In The Numbers Of March
Every year Americans gather together to focus their attention on the last couple of weeks in March--and not just to celebrate St. Patrick's Day. These are the weeks of some of the nation's most...
View ArticleAre Taxes Considered in Your Football Fantasies?
Fantasy sports players are constantly monitoring their team rosters and checking their winners, but are they monitoring the impact of gambling winnings on their taxes? Our guide below talks about the...
View ArticleThe Vices of March: Sin Taxes Meet March Madness
Whether we're talking about the Super Bowl, Fantasy Football, or March Madness, we all may have to pay "sin" tax. Check out our infographic showing how much revenue is generated from March Madness and...
View ArticleTop 5 Smartest and 4 Dumbest Ways to Use Your Tax Refund
With tax season here and many people expecting a tax refund, I thought it would be fun to list some of the smartest (and dumbest) ways you can spend your money.Full Story
View ArticleHow Will You Be Taxed If You Win the Powerball Jackpot?
Have you caught Powerball fever? Much of the country has, creating long lines at convenience stores and driving today’s jackpot to a record-breaking $1.5 billion dollars as of publishing. Admittedly,...
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