Category Archives: Gambling

Massages May Feel Nice, But Can You Deduct Them at the Poker Table?

Posted on January 12, 2014 by Russ

Last week I had an inquiry that asked me about deducting massages at the poker table. At many poker rooms and major poker tournaments, you can get a massage; the cost ranges between $1 and $3 per minute (plus a … Continue reading →

Posted in Gambling | 4 Comments

1099 Time

Posted on January 2, 2014 by Russ

As we finish the first week of January, we’re running some repeats of important issues. It’s time for businesses to send out their annual information returns. These are the Form 1099s that are sent to to vendors when required. Let’s … Continue reading →

Posted in Gambling, IRS | Tagged | 1 Comment

“Unabomber” (Poker Player) Phil Laak Reportedly Hit With Tax Liens from California

Posted on December 19, 2013 by Russ

Phil Laak is a very successful poker player. According to the Hendon Mob database, he’s won more than $3,136,000 in poker tournaments. He’s also a successful cash game player. The web site TMZ has stated that Phil Laak left out … Continue reading →

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FBI Agent Structures His Gambling Into ClubFed

Posted on December 19, 2013 by Russ

Law enforcement officers are supposed to know the law. That’s obvious, but one former FBI agent remembered half the law about currency (cash) deposits to his regret. Travis Wilson is a former Special Agent of the FBI. Agent Wilson liked … Continue reading →

Posted in Gambling, IRS | Tagged | 1 Comment

It’s All Greek to Me

Posted on November 21, 2013 by Russ

In reading through the poker world today, news from Greece pushed to the forefront: The Greek government has implemented an up to 20% “Player Withholding Tax” on online gambling. It doesn’t sound like much, but like everything the devil is … Continue reading →

Posted in Gambling, International | Tagged | 1 Comment

Full Tilt Remission Deadline is Today

Posted on November 16, 2013 by Russ

Today, November 16th, is the deadline for making a remission claim from Full Tilt Poker. (There are two exceptions noted below.) If you were not an affiliate of Full Tilt Poker or a Red Pro, you must file your claim … Continue reading →

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The Real Winners of the 2013 World Series of Poker

Posted on November 5, 2013 by Russ

Nine individuals came to Las Vegas on Monday and Tuesday to compete for the championship at the World Series of Poker (WSOP). Who would be the lucky winner? And who really got to keep the money? Congratulations to Ryan Riess … Continue reading →

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Can an Indian Tribe Open a Casino on Non-Tribal Land that the Tribe Purchases?

Posted on October 20, 2013 by Russ

The Bay Mills Indian Community (Tribe) has a reservation on Michigan’s upper peninsula. The tribe decided to open a casino in Vanderbilt, Michigan–over 100 miles from the reservation. Is that legal? The tribe purchased the land and argues that since … Continue reading →

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The Affordable Care Act and Gamblers: A Bad Bet

Posted on September 21, 2013 by Russ

The Affordable Care Act (aka ObamaCare) is a complex law. For those who gamble, both professionally and as amateurs, there will be a multitude of impacts. The law includes twenty new taxes. Let’s take a look at how these will … Continue reading →

Posted in Gambling, IRS | Tagged | 1 Comment

Tax Implications of Full Tilt Poker Remission

Posted on September 17, 2013 by Russ

I did an interview with CardPlayer Media on the tax impact of the Full Tilt Poker remission. (That remission process formally begins tomorrow, September 18th. More information on that is available at the claims website run by the Garden City … Continue reading →

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