Monthly Archives: May 2023

WSOP and Taxes: 2023 Update

Posted on May 31, 2023 by Russ

The 2023 World Series of Poker (WSOP) began yesterday here in Las Vegas at the Paris and Horseshoe hotels (the hotels are linked). There are also several other tournament series that have either begun or will soon begin at the … Continue reading →

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Colorado: Let’s Implement a 1207800% Marginal Tax Rate!

Posted on May 25, 2023 by Russ

Consider two taxpayers who enjoy gambling; both are single and residents of Colorado.  Both are amateur gamblers who earn $100,000 of wage income and rent.  Joe Unlucky broke dead even in his gambling, winning $299,000 (using the session method) and … Continue reading →

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Why Were California Returns Extended Again from May to October? (A Theory)

Posted on May 8, 2023 by Russ

Back in January, severe winter storms impacted California.  Much of the state was declared a federal disaster area; these declarations are always county-by-county.  As of today, only two counties in California (both in the northeastern corner of the state) are … Continue reading →

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