From tracking gambling sessions to offsetting winnings with losses, professional gamblers and enthusiasts alike need to know how to beat the house when it comes to taxes. Join Certified Public Accountant Zak Zimbile, owner of a remote CPA firm specializing in gambling taxation, as he breaks down federal and state requirements for reporting gambling income. Zak leverages his decade-plus of experience advising recreational and professional gamblers across the country to explain what counts as gambling income, how to properly track activity, when winnings must be reported, and how losses can be used to lower your tax bill. With insights ranging from tax forms to watch out for to foreign reporting requirements, this episode helps gamblers and tax professionals alike formulate strategies to minimize the house's take.
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Connect with Our Guest, Zak Zimbile
Twitter: https://twitter.com/ZakTheCPA
LinkedIn: https://www.linkedin.com/in/zachary-zimbile-cpa-5a4b2224/
Learn more about Zachary Zimbile, CPA
Website: https://www.zakthecpa.com/
Connect with Blake Oliver, CPA
LinkedIn: https://www.linkedin.com/in/blaketoliver
Twitter: https://twitter.com/blaketoliver/
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