The Gambler's Guide to Taxes: How to Keep More of What You Win

wilheim · Apr 13, 2004

Just ran into this at Amazon.com. Might be of interest to some. I know nothing about the book or it's author.

Amazon.com page

wil.

More about the book.Tax book

golfingarkansas · Apr 13, 2004

just pick up a bunch of horse racing losing tickets!

Fishhead · Apr 13, 2004

If you keep an accurate diary, one does not need losing tickets or receipts.......but they may assist you if you are audited.

But the IRS only requires you keep an accurate and updated diary.

LucaBrasi · Apr 13, 2004

www.rbstaxes.com

daringly · Apr 13, 2004

There are easy legal ways to reduce tax liabilities. Keep track of your losses accurately being the main one.

I have more difficult issues. One of these is that corporations are only permitted to pursue "legal purposes". I cannot incorporate easily to write off expenses, as "profitable gambling" is not an interest that can be incorporated in any state to my knowledge.

I might have over 10k in consultant fees (legitimate, with IT and Ph.D Stat guys where I assign projects). Is there a legal way to write these expenses off against my winnings?

Another question... Is there a legal way to defer my income? I'm only interested in legal methods... I'd rather pay the piper now, than take ANY CHANCE of going to jail.