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Books 'offer tips' for players
2008-03-13 18:47:41
Poker aficionados concerned about the tax implications of their successes might benefit from two freshly published books recently reviewed by one news provider.
The Detroit News states that one guide worth dipping into is How to Turn Poker Playing Into a Business.
Written by a table player, the guide has been ratified by professional accountant Ann-Margaret Johnston and offers a number of sample tax forms to clarify the returns process.
Alternatively, Roger and Yolanda Roche's The Tax Guide for Gamblers is a second option for those struggling with the Inland Revenue Service - and includes within its remit those amateur players whose winnings are high enough to warrant taxation.
The Detroit News adds its own hints and tips - for instance observing that professional players could deduct the bookprice as a business expense should they decide to make a purchase.
Such news follows the instigation of new tax rules in the US that came to force at the beginning of March, requiring casinos to report all winnings exceeding $5,000.
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