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 Madness bracket will cost you at tax...
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 sporting events, and...
Sports gambling has become a popular year-long hobby. Are you feeling lucky? If so, you may be headed to the racetrack, casino or sports bar to make your bet, hoping to win big. However, you might be surprised to learn...
The Mega Millions lottery jackpot is at 1.6 billion! Everyone is scrambling around today getting last minute tickets and hoping to be the winner of the largest jackpot in lottery history. But lottery participants aren’t the only ones excited about...
Most people don’t think about taxes on their way to a racetrack or casino, but what might seem like nothing more than the chance to win some extra money actually carries significant tax implications. As is often the case, federal and state...
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 sources of income, gambling...
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. Suddenly, the host announces...
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 Madness Tournament. For the next few weeks, millions...
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 taxes...
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 much of...
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 Madness bracket will cost you at tax... 
