Hi guys, Welcome to the Advanced Video Search Engine, and you are watching Sports Betting Taxes | Discussion with a CPA. That video is uploaded by OddsJam: Sports Betting, Free Picks & Best Bets at 2021-11-06T14:37:40-07:00. We are promoting this video only for entertainment and educational purpose only. So, I hope you like & enjoy it. [a2KnUIuyLrc]
| Name | Sports Betting Taxes | Discussion with a CPA |
| Video Uploader | Video From OddsJam: Sports Betting, Free Picks & Best Bets |
| Upload Date | This Video Uploaded At 06-11-2021 21:37:40 |
| Video Discription | https://oddsjam.com/ Sports betting taxes explained by a CPA (Certified Public Accountant). This is NOT tax advice you should use to independently file your return. As we state clearly in this video, you still should hire a CPA to do your taxes as a sports bettor. Data runs the world - it should run your sports betting accounts, too. Randall sits down with Jason, a licensed CPA from Illinois, to discuss how to approach handling taxes and sports betting. Jason gives a summary of the 2021 tax laws for gambling income and losses. He explains what is taxable, what you can deduct if you itemize, the tax rate and the difference in the Federal vs State taxes. Jason discusses how sportsbooks calculate the gains and losses for each sports bettor and the importance of W2G or 1099. Jason goes into detail on how you can plan for your taxes in advance and what steps you can do to avoid different penalties. Jason utilizes the OddsJam low holds page to help balance his sportsbooks. With two months left in the year, it is important to get this information in order now and not later. Keep track of your results, gather info, and ask the sportsbooks for information you need to correctly file your taxes. For 2022, there are no major changes coming to the taxes. Jason strongly encourages everyone to talk to a CPA in your state and get the proper advice you need. Follow OddsJam on Twitter here: https://twitter.com/OddsJam a2KnUIuyLrc |
| Category | Sports |
| Tags | sports betting taxes | online gambling taxes | gambling taxes | taxes on gambling winnings | paying taxes on sports betting | online sports betting taxes | sports betting | sports betting advice | how to pay taxes on sports betting | deducting losses on sports betting | sports betting spreadsheets | taxes on gambling | paying taxes on gambling | paying taxes on betting |
